TV News LIES

Saturday, Feb 06th

Last update05:20:13 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...


Report: Powell, Rice staff received classified emails on private servers

Colin PowellIn a letter obtained by NBC, Inspector General Steve Linick said that a total of 12...

Congress Seeks Answers On Flint Water Crisis, Doesn't Get Them

Congress gets no answers about Flint waterMembers of Congress wanted to get to the bottom of the Flint water crisis, but several...

Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

Martin Shkreli pleads fifthEmbattled drug entrepreneur Martin Shkreli — who vigorously defended his decision to hike the price of...

The $43 million Afghani gas station that wasn't

Chuck GrassleyLast October, a top U.S. watchdog produced a doozy of a report, alleging the Pentagon had...
 
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!