Wednesday, December 28, 2011
Source: AllGov
Recent economic times have been tough on most Americans. But for those representing the struggling masses, it’s been much easier to accumulate wealth.
The wealth gap between lawmakers and constituents increased substantially from 2004 to 2010, when the median net worth of members of Congress went up 15%. The rest of the country during this time period endured an 8% drop in their median net worth.
As a result, the median net worth in Congress today is $913,000, while the median net worth of all Americans is $100,000. Although members of Congress generally come from above average economic classes, they do earn a base salary of $174,000 and many of their expenses are paid for. There is also a suspicion that some members have used inside information from their work to make profitable investments.
-Noel Brinkerhoff, David Wallechinsky
Economic Downturn Took a Detour at Capitol Hill (by Eric Lichtblau, New York Times)
10 Ultra-Rich Congresspeople Who 'Represent' Some of the Most Financially Screwed Districts (by Sarah Jaffe, AlterNet)
Congress and Wealth: Considering the Influence of Race, Gender, Class and Education (by Darren Hutchinson, Huffington Post)
Members of Congress Increased Personal Wealth 25% in Two Years (by Noel Brinkerhoff, AllGov)
Richest Members of Congress Got Richer During Recession (by Noel Brinkerhoff, AllGov) Source: AllGov
