For First Time, Majority of Congressmen are Millionaires

 

I made $464 million making car alarms for the American working man, because that's who I am, and that's what I do.

I made $464 million making car alarms for the American working man, because that’s what I am, and that’s who I care about.

 

Now that all 2012 tax filings are in and counted, we get the news that for the first time in our history, over half of the members of the US Congress are millionaires. 268 of 534 members of Congress have a net worth over a million, with a median of $1,008,767 — up from $966,000 the year before. That’s even with losing John Kerry’s fortune ($248 million) to the State Dept. and Frank Lautenberg ($87.5 million) passing away.

The median net worth in the House is $896,000, with Democrats (median of $929,000) out-earning Republicans (median of $884,000). In the Senate the median worth is $2.7 million, with Republicans ($2.9 million) out-netting Democrats ($1.7 million). The wealthiest member of our Federal government is reformed car-thief, Darrell Issa, whose net worth of $464 million gives him carte blanche to turn the House Oversight Committee into his personal Impeach Obama Brigade.

Given the level of success we expect from people we elevate to office, as well as the ridiculously high-cost of running  a campaign, it’s not shocking that our elected representatives are financially well-off. Even still, the above figures come in handy when you listen to what politicians say they want to do for real Americans compared to how much actually gets done. It’s already tough for most millionaires to relate to the problems facing the common man, but shit gets real when it’s your own money on the line versus unemployment insurance, universal health insurance, federal safety net, saving poor neighborhoods, and fighting income equality.

Representative democracy at its finest!

Read: Millionaires’ Club: For First Time, Most Lawmakers are Worth $1 Million-Plus – OpenSecrets Blog.