Net Worth of US Congress Up 25 Percent in Two Years

[housewolf]

And Congress’ Rich Get Richer
Net Worth of Lawmakers Up 25 Percent in Two Years, Analysis Demonstrates

By Paul Singer and Jennifer Yachnin
Roll Call Staff
Nov. 1, 2011, Midnight

Members of Congress had a collective net worth of more than $2 billion in 2010, a nearly 25 percent increase over the 2008 total, according to a Roll Call analysis of Members' financial disclosure forms.

Nearly 90 percent of that increase is concentrated in the 50 richest Members of Congress.

<snip> House & Senate cumulatives

These wealth totals vastly underestimate the actual net worth of Members of Congress because they are based on an accounting system that does not include homes and other non-income-generating property, which is likely to tally hundreds of millions of uncounted dollars. In addition, Roll Call's tally is based on the minimum values of assets reported by Members on their annual financial disclosure forms; the true values of those assets may be much higher.

While wealth overall is scattered fairly evenly between the two parties, there is an interesting divide in the two chambers. Democrats hold about 80 percent of the wealth in the Senate; Republicans control about 78 percent of the wealth in the House.

<snip>

read the article:
http://www.rollcall.com/issues/57_51/And-Congress-Rich-Get-Richer-209907-1.html?pos=hftxt

[kenny blankenship]

1. Oh yeah, they feel our pain.

As iridescent thundering waves of pleasure.

[FiveGoodMen]

2. I like to disagree with that, but ...

[OffWithTheirHeads]

3. Of the people, by the 1%, for the 1%

No wonder we're so fucked

[housewolf]

4. The question remains

how do we change the entire system?

[Obamanaut]

5. And there are some people who actually believe this group will change

the tax system to one that will adversely impact the congressmembers themselves and/or their country club buddies.

People really do think that.

[alp227]

6. More at Opensecrets

http://www.opensecrets.org/news/2010/11/congressional-members-personal-weal.html

Darrell Issa, one of the few members of Congress with a criminal record prior to election, tops the list. Then is followed by the Democrats Jane Harman and John Kerry. This blog names many Democrats, only a few Republicans.

[Octafish]

7. That's what we know about.

And that's now what I call the People's business.