Report sez there are 237 millionaires in Congress! 44% of 'em!!!
By ERIKA LOVLEY
California Republican Rep. Darrell Issa is the richest lawmaker
on Capitol Hill, with a net worth estimated at about $251 million.
Can you imagine the 'rich man's laws he's pushing? Him and 44%
of your PUBLIC SERVANTS??
As Washington reels from the news of 12% percent unemployment, the Center
for Responsive Politics is out with a new report describing the wealth
of
members of Congress.
Among the highlights: Two-hundred-and-thirty-seven members of Congress
are
millionaires. That's 44 percent of the body - compared to about 1 percent
of Americans overall.
CRP says California Republican Rep. Darrell Issa is the richest lawmaker
on Capitol Hill, with a net worth estimated at about $251 million.
http://en.wikipedia.org/wiki/Darrell_Issa
OTHERS not as wealthy, not as eccentric --Next in
line: Rep. Jane Harman (D-Calif.), worth about $244.7 million; Sen.
Herb
Kohl (D-Wis.), worth about $214.5 million; Sen. Mark Warner (D-Va.),
worth
about $209.7 million; and Sen. John Kerry (D-Mass.), worth about $208.8
million. Diane
Feinstein who pork barrels to her hubby's contracting biz in CALIF
which is illegal. Both are nearly billionaires.
All told, at least seven lawmakers have net worths greater than $100
million, according to the Center's 2008 figures.
"Many Americans probably have a sense that members of Congress aren't
hurting, even if their government salary alone is in the six figures,
much
more than most Americans make," said CRP spokesman Dave Levinthal.
"What
we see through these figures is that many of them have riches well
beyond
that salary, supplemented with securities, stock holdings, property
and
other investments."
The CRP numbers are somewhat rough estimates - lawmakers are required
to
report their financial information in broad ranges of figures, so it's
impossible to pin down their dollars with precision. The CRP uses the
mid-point in the ranges to build its estimates.
Senators' estimated median reportable worth sunk to about $1.79 million
from
$2.27 million in 2007. The House's median income was significantly
lower
and
also sank, bottoming out at $622,254 from $724,258 in 2007.
But CRP's analysis suggests that some lawmakers did well for themselves
between 2007 and 2008, even as many Americans lost jobs and saw their
savings and their home values plummet.
Senate Minority Leader Mitch McConnell (R-Ky.) gained about $9.2 million.
Sen. James Inhofe (R-Okla.) gained about $3 million, Sen. Daniel Inouye
(D-Hawaii) had an estimated $2.6 million gain, and Richard Shelby (R-Ala.)
gained about $2.8 million.
Some lawmakers have profited from investments in companies that have
received federal bailouts; dozens of lawmakers are invested in Wells
Fargo,
Citigroup, Goldman Sachs and Bank of America.
Among executive branch officials, CRP says the richest is Securities
and
Exchange Commission Chairwoman Mary L. Schapiro, with a net worth estimated
at $26 million.
Secretary of State Hillary Clinton is next, worth an estimated $21 million.
President Barack Obama is the sixth-wealthiest, worth about an estimated
$4
million. Vice President Joe Biden has often tagged himself as an original
blue collar man. The CRP backs him up, putting his net worth at just
$27,000.
He's hardly the worst off.
Rep. Alcee Hastings (D-Fla.), freshman Rep. Harry Teague (D-N.M.), Rep.
Jeff Fortenberry (R-Neb.), Rep. John Salazar (D-Colo.) and Rep. Sander
Levin
(D-Mich.) each a net worth of less than zero, CRP says.
One caveat on those numbers: Federal financial disclosure laws don't
require members to list the value of their personal residences. That
information
could alter the net worth picture for many lawmakers.
Even so, Levinthal said, "It is clear that some members are struggling
financially.
"Over a calendar year, one's wealth can change drastically. Many peoples'
investments took a nose dive over night in the last year," he said.
A number of lawmakers are estimated to have suffered double-digit
percentage losses in their net worth from 2007 to 2008. The biggest
losers include
Kerry, who lost a whopping $127.4 million; Warner lost about $28.1
million;
Sen. Dianne Feinstein (D-Calif.) lost about $11.8 million; and Sen.
John
McCain (R-Ariz.) lost about $10.1 million.
NOW, can you imagine how many are favoring
the GILT EDGE STOCK of
MAJOR CORPORATIONS? Churning out RICH MAN's
LAW?
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