**Majority of Congress men are millionaires now** does this surprise anyone?

[easyrider]

Majority of Congress members now millionaires

By James O'Toole  @jtotoole January 10, 2014: 11:28 AM ET

 

The 1% are well-represented on Capitol Hill.

 

NEW YORK (CNNMoney)

For the first time ever, more than half of current members of Congress are millionaires, according to a new report from the non-profit Center for Responsive Politics.

Among the 534 current members of Congress, at least 268 had an average net worth of $1 million or more for 2012, the CRP said, citing disclosure forms filed last year. A year ago, the total stood at 257 members, or about 48%.

The group said the new figure "represents a watershed moment at a time when lawmakers are debating issues like unemployment benefits, food stamps and the minimum wage, which affect people with far fewer resources, as well as considering an overhaul of the tax code."

CRP executive director Sheila Krumholz said the data reflect the reality that "in our electoral system, candidates need access to wealth to run financially viable campaigns, and the most successful fundraisers are politicians who swim in those circles to begin with."

Related: Fiscal cliff deal stops many tax hikes, but leaves big issues

This year's analysis was complicated by a change in reporting rules that allows lawmakers to report the worth of high-value assets and income as simply "$1 million or more," after previously requiring more specific values.

 

What businesses want from Obama

 

Rep. Darrell Issa of California, a Republican from California, remains the wealthiest member of Congress, with a net worth that averaged $464 million in 2012 stemming from his car alarm business.

Related: See if your Congressional leader made the list

Bringing up the rear is another member of the California House delegation, David Valadao, who reported an average net worth of negative $12.1 million based on loans to his family dairy farm. Rep. Alcee Hastings of Florida also owes millions of dollars in debt stemming from legal bills incurred in the 1980's after he was charged with taking a bribe while serving as a federal judge. 

 

http://money.cnn.com/2014/01/09/news/economy/congress-millionaires/

Edited January 10, 2014 by easyrider

[The Machine]

I'm surprised there not all millionaires...

 

+1 easy

[easyrider]

I'm surprised there not all millionaires...

 

+1 easy

haha me too.

[new york kevin]

Don't forget the Majority of our U.S. Senators are millionaires now also. Apparently, as memory serves me there is a law that criminalizes insider trading on all of the US stock exchanges. Can we get an amen from Martha Stewart? There is a law that allows our Congressmen and Senators to get away with working on insider info. Specifically, if a Congressional or Senate Commitee is placing a new federal highway somewhere, your Congressperson or Senator can go in and buy said lands, before the commitees begin negotiations with the landowners on the proposed route of the new highway,l and then sell it back to the Feds at a inflated price. They can do the same thing with stocks in weapons manufacturing companies just prior to their awarding a new defense contract for widgets. The filthy rich Senator Joe Biden was by his own words dirt poor when he was 1st elected now he can buy the Vice Presidency.

 

So now the Obama and Democrat machine roars back to life with their income inequality campaigns to blow smoke before the eyes of the American people, so they can't or won't beable to focus on the failures of our current President. Fyi; I pray for my President.

[vietnam1969]

        I will be running for Congress THIS COMING SESSION  so I am asking all of you for your support.

                                                     Being poor really sucks!

 

                              And I PROMISE to make everyone in the US a millionaire.

 

     And if you believe this, YOU will see a Big CHANGE !!!!!!!!!!!    In this country.                                                

 

                               DO YOU KNOW OF ANYONE ELSE WHO WOULD DO THIS?     

 

                                            THANKING YOU ALL IN ADVANCE.

 

                                                                                                        

[gymrat76541]

Thats one thing I find as so funny.

America expects their representatives to look out for ther best interest right?

Yet you hire a rich person to go to Washington, and seem surprised when they will NOT raise the tax rate on the wealthy. Or they do nothing to improve the plight of the middle class/poor.

 

One day America will start caring about who is elected. The #1 problem in America is that no one cares until the problem hits home, & then it is too late to react. Like never changing the oil in your car & being surprised when the engine blows up. LOL

 

Even when America is outraged - they quickly forget. The Congress shuts down the government but how many will remember that and get off their backsides and vote come the next ellections?

[Rayzur]

I think I read Feinstein was worth 20 Million and someone told me her company was one of the major primaries behind that stupid, idiotic bullet train that we've been paying on for years now and I still don't think a shovel has hit earth...