Tuesday, December 11, 2012

Congressmen are Twice as Rich Now as They Were in 1984...

The rest of us are actually poorer.

NYT reports that the median net worth of a member of Congress climbed 15 percent from 2004 to 2010, to $913,000; meanwhile, the median net worth for all Americans dropped 8 percent over that same period, to roughly $100,000.

The lawmakers’ gains are even more noteworthy because over that same period the net worth of the richest 10 percent of Americans remained essentially flat, based on inflation-adjusted figures, says Slate.

More regulations and more Wahington D.C.-based power centers result in many more wanting to influence congressmen, legally or illegally.

1 comment:

  1. ... and that's like the low end of the scale, in that area. Consider Ron Paul's line -- "Lobbyists make more money than Congressmen because lobbyists write more laws than we do."