Wednesday, January 14, 2015

Governed by the rich

At least as measured by net worth. The Center for Responsive Politics has published its latest survey of the net worth of our Congressmen and Senators.

The survey for 2013 shows that the median net worth of a member of Congress was $1,029,505 — a 2.5 percent increase from 2012 — compared with an average American household’s median net worth of $56,355.  That is it would take 18 average American households to equal the wealth of 1 Congressional household. Fifty percent of our Congressmen are millionaires; that's obviously not the case with we average Joes.

As is pretty obvious things are not getting better for us. The median net worth of an American family has declined by nearly one-third between 2007 and 2013. Guess what? The change for our leaders was positive, not negative. The Senate’s median net worth went from $2.3 million to $2.8 million over that period, while for members of the House the numbers went from $708,500 to $843,507.

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