So… a record number of Americans are out of work… take home income is plummeting, and when you factor in inflation, the average American’s buying-power is even weaker…
In a week dominated by politicians’ talk about income inequality, a new tally shows that most members of Congress are millionaires.
Of 534 current lawmakers on Capitol Hill, at least 268 had an median net worth of $1 million or more in 2012, the analysis by the non-partisan Center for Responsive Politics found. That’s up from 257 members — or about 48% of lawmakers — in 2011 and marks the first time that a majority of politicians on Capitol Hill were in the millionaire’s club.
The richest lawmaker: Rep, Darrell Issa, R-Calif., who oversees the House Oversight and Government Reform Committee and made a fortune in his car- alarms business. The center calculates his average net worth at $464 million.
Senators generally are better off than House members, with an average net worth of $2.7 million in the Senate compared with $896,000 in the House.
It’s impossible to know exactly how much money lawmakers have. They are required to report their assets in broad ranges only.
Real estate is the most popular investment vehicle, valued at between $442.2 million and $1.4 billion. For lawmakers dabbling in the stock market, General Electric was the most popular stock pick. Seventy-one lawmakers owned shares in the company last year.
Yet you expect Congress to do something about “income inequality”?
Ha! it’s Congress in league with the White House that supports the worst aspects of income inequality–and not for those who actually earn that income, but for parasites—bankers, bureaucrats, and crony capitalists—who buy government policies and favors to make their wealth from your pockets.
Look at powerful, all-encompassing governments around the world—do any of those nations have a strong middle class? Or is it a matter of the very rich and well-connected, versus the masses of poor?
Do you get it yet? Big Government is the problem, not the solution. Enjoy your government checks… crumbs from your master’s table.