TV News LIES

Saturday, Aug 01st

Last update06:10:38 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...


Philadelphia Rep. Charged With Corruption

Philly Dem indictedThe U.S. Department of Justice has indicted a sitting U.S. Congressman on charges of corruption.Chaka Fattah,...

What do highways have to do with Planned Parenthood and Obamacare?

Highway billMitch McConnell is eyeing a major breakthrough on a multiyear highway bill that many in Congress...

Ex-diplomats urge ratification of Iran deal

Ex-diplomats urge ratificationA group of former diplomats sent a letter to Congress on Monday morning, urging members of...

Senate votes to roll back parts of No Child Left Behind

No Child Left BehindThe U.S. Senate has voted to roll back significant parts of the No Child Left Behind...
 
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!