TV News LIES

Friday, Oct 24th

Last update05:59:50 AM GMT

You are here News Congress Wealth separates lawmakers from constituents

Wealth separates lawmakers from constituents

E-mail Print PDF

Wealthy congress membersBetween 1984 and 2009, the median net worth of a member of the House has risen 2 1 / 2 times, according to the analysis of financial disclosures, rising from $280,000 to $725,000 in inflation-adjusted dollars.

Over the same period, the wealth of an American family has declined slightly, with the median sliding from $20,600 to $20,500, according to the Panel Study of Income Dynamics from the University of Michigan.

All figures have been adjusted for inflation and exclude home equity, which is not included in congressional reporting. The year 1984 was chosen because it was the earliest for which consistent wealth data were available.

The growing disparity between the representatives and the represented means that there is a greater distance between the economic experience of Americans and those of lawmakers.

“My mother and I used to joke we were like the Beverly Hillbillies when we rolled into McLean, and we really were,” said Michele Myers, the congressman’s daughter, now 46. “My dad was driving this awful lime green Ford Maverick, and I bought my clothes at Kmart.”

More...


Most Recent Related Stories...


CIA didn't know it had Senate 'torture' report

CIA reportThe U.S. government inaccurately told a federal judge last month that the CIA did not have...

Ohio's James Traficant Dies, Days After Accident On Farm

TrafficantFormer Rep. James Traficant, the Ohio politician whose career included 17 years in Congress and a...

Elizabeth Warren is calling for an investigation of the Federal Reserve

Elizabeth Warren"This American Life" did a program on Friday on the information obtained by Carmen Segarra from...

GOP Rejects Obama’s ‘Creative’ Iran Nuclear Compromises

rouhaniThe Obama administration is frantically searching for “creative solutions” to get to a nuclear deal with...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!