Congress Members Are Getting Wealthier

Discussion in 'Politics' started by pspr, Dec 27, 2011.

  1. pspr


    Median net worth of member of Congress rose from $280,000 to $725,000 between 1984 and 2009

    Over same 25 years the wealth of the average U.S. family slipped from $20,500 from $20,600

    The wealth gap between those governing the U.S. and the people they represent has dramatically widened, research shows.

    Against a backdrop of a vast budget deficit and fears of the fragility of the economy, analysis by the Washington Post shows that the median net worth of a member of Congress has nearly tripled over 25 years while the income of an average U.S. family has actually fallen.

    It calculated that their median net worth, between 1984 and 2009 and excluding home equity, rose from $280,000 to $725,000.

    1984, one in five House members had zero or negative net worth and by 2009 that number had dropped to one in 12. 1984 was chosen as the starting point for the analysis because it is the earliest year in which consistent wealth statistics are available, the newspaper said.

    From captains of industry to former finance executives members of Congress have always been richer than their fellow Americans.

    The reasons put forward for their wealth now include the high cost of entering politics in the first place as well as inheriting wealth and marrying into money.

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  2. Lucrum


    Go big government!

    NO term limits!

    NO accountability for congress!

    NO balanced budget!

    Let's tax and spend our way into prosperity - for congress!

    Woo Hoo!

    Yes we can!

    Hope and Change!

    Four more years!