Report: 237 millionaires in Congress - Erika Lovley - POLITICO.com Talk about bad timing. As Washington reels from the news of 10.2 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. 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. 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 lossed 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.
Wow... Joe Biden really, really sucks. He's the vice president... doesn't he have the potential to write a tell-all memoir of his experiences with Obama? That should be worth something.
Hahahaha! I have more personal money than Joe Biden, and I'm just a college student who dabbled in stocks in high school. Can I haz VP nao?
Why do you find it so interesting? I don't see that as a statistical anomaly considering the Democrats have about 60% of the seats in Congress.
Nope. Why so partisan? Do you think this is interesting? Oh my god... of these 4 congressmen who gained millions of dollar in net worth while most people saw their median incomes diminish... 3 were REPUBLICANS!
He wont write it, somebody will ghost it and he will make millions, it always happens after their term, and he probably will be promised a high position in any company or foundation he wants.
i would just imagine that a group trying to push a welfare agenda would find it outrageous for someone to be worth anything more than 10 million dollars, they complain about people living too lavishly and not giving enough to those in need. and they have millions upon millions of dollars of disposable income that could go to the poor and they could still live a rich lifestyle. anything else blatantly obvious you need me to point out?
So, to condemn the entire group of Democrats for pushing a welfare agenda while living lavishly, you looked at 3. Seems like an honest evaluation.
think a little deeper buddy, just think about how many are worth more than 5 million, it's the fact that they put on a face that they care about the poor and believe it is immoral to have so much when others have so little, and they turn around and buy a 2 or 3 million dollar houses and brand new lexus's and bmw's. they "care" about the poor but not enough to give up their own luxuries in life. anything else blatantly obvious you need me to point out?
like I asked earlier, why so partisan? Do you think none of those people give to any of their money to charity? Why is it that buying a nice house or car means you don't really care about the poor? Does this mean shit? or this? 3/4 of the congressmen who gained millions of dollars while most Americans saw their net worth dry up and diminish... were republicans! The richest congressperson has an R next to his name! McConnell saw his net worth climb almost by 10 million dollars while the average American and congressperson lost value! These facts don't really mean anything and neither does your little point. why focus so much on the democrats?
I definitely see why being rich, while fucking over the poor is bad, but you singled out the Democrats. It's not only the Democrats who are rich, driving around their BMW's, and buying expensive houses. The Republicans did the same thing when they were in power and some are still doing it. The fact is most politicians are rich and you singling out the Democrats just proves how much you've bought into this left-right paradigm. The Republicans have been doing the same thing as the Democrats. Could you please repeat yourself again? I lol'd.
ok guys i guess the blatantly obvious was once again not pick up by your shallow brains, lets do some critical thinking here, .....what is a democrats stance on what the rich should be forced to do with their money? .....what's is a republicans stance on what the rich should be forced to do with their money? ...perhaps now you will get it (but i thought that would have happened 3 posts ago) i'll give you a hint, republicans don't hate people for getting rich. and the word hypocrisy will be in my next argument.
All democrats don't have the same stance. Same goes for the republicans. You continue to try to push your narrow worldview. Personally, I'm growing tired of it. Consider yourself ignored.