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Since senators are only required to list their personal finances in broad ranges - $250,001 to $500,000, for example - it is difficult to determine a member's precise net worth. But previous surveys have shown that nearly half of the 100 senators are millionaires
The Tennessee Republican, a former Nashville heart-lung transplant surgeon whose family founded HCA — The Healthcare Company, one of the nation's largest for-profit hospital chains, reported blind trusts in the $6.5 million to $31 million range. He also said, in the forms required of all legislators every year, that his wife Karyn and three sons each had blind trusts that earned more than $1 million apiece.
Sen. Hillary Rodham Clinton, D-N.Y., received more than $1.15 million as partial payment for her memoirs. But that sum was overshadowed by the $9.5 million that her husband, former President Bill Clinton earned making speeches around the world for as much as $400,000 a speech.
Daschle's deputy, Democratic whip Harry Reid, D-Nev., listed 160 acres in Bullhead City, Ariz., worth $500,000 to $1 million and Nevada land holdings and mining claims worth $786,000 to $1.675 million. His investments from municipal bonds and other sources, earned him $29,116-$85,050.
As always among the top millionaires in the Senate was Sen. Edward Kennedy, D-Mass., who has a family trust fund — worth $8 million to $45 million — set up in 1936 when he was four years old by his late father Joseph P. Kennedy.He also has two blind trusts in his name valued at $1,001,001 to $5,015,000 and reported unearned income of $2 million to $13 million from family and blind trusts.
Democratic presidential candidate Bob Graham said he and his wife have assets worth between $7.7 million and $31.6 million.
The forms do not list the independent assets and earnings of spouses. Sen. John Kerry of Massachusetts, a Democratic presidential contender, reported no unearned income but his wife Teresa Heinz Kerry, heir to the Heinz food fortune, is estimated to be worth more than $500 million.Kerry lists a Dutch painting owned jointly with his wife worth $250,000-$500,000.
The second-ranked Senate Republican, Mitch McConnell of Kentucky, also reported that his wife, Labor Secretary Elaine Chao, was the major breadwinner. She listed a Vanguard 500 Index fund worth $500,000-$1 million, another fund worth $100,000-$250,000 and a house worth $500,000-$1 million that the couple rents for $5,000-$15,000.
Sen. John Edwards, D.N.C., another presidential candidate, reported a blind trust worth $5 million-$25 million. The former trial lawyer claimed income of $100,000 to $1 million on that trust.
They're not really idiots persay, about 80% of politicians are criminals, and about 50% of the 80% are criminals because somebody's got something hanging over their head and if they don't go along with the system, that "something" is going to come out in the media
Originally posted by David9176
Many congressman are rich anyway.
If someone can find it, I'd like to see what each Congressmen is worth.
Let's see how many MILLIONARES have seats in Congress right now.
F YOU think Congress is out of touch with the American people, maybe it's because so many of its members do not pay mortgages, save for the education of their children, worry about medical bills or take part in many of the other experiences of middle-class life.
Already, at least 28 U.S. senators - more than a fourth of the body - are millionaires, according to federal financial disclosure records. In the House of Representatives, there are 50 millionaires at a bare minimum, or about 11.5 percent of the membership. By comparison, less than one half of 1 percent of the population has a net worth of $1 million or more. Put it another way: Millionaires are at least 30 times more common ...
It should be no surprise that the majority of the elected denizens on Capitol Hill are millionaires and multimillionaires, so they are not going to support regular Americans but other millionaires like themselves.
While typical, hardworking Americans are struggling to make ends meet and experiencing lower wages and benefits, these millionaires in Congress got 13% richer in 2007
The Senate especially is truly the millionaires club with a median net worth of $1.7 million
"Times are tough, but don't worry about most members of Congress making ends meet.
"Their collective wealth grew by 13 percent last year, leaving them in better shape than most Americans to make it through an economic downturn, according to a new analysis of personal financial reports.
"Overall, nearly two of every three senators are millionaires. That includes presidential candidates Sen. John McCain, R-Ariz., and Sen. Barack Obama, D-Ill. In the House, 39 percent of all members belong to the exclusive club.
"Only 1 percent of all Americans are considered millionaires.
"In the House of Representatives, Rep. Jane Harman, D-Calif., ranks No. 1, with $397 million, followed by Rep. Darrell Issa, R-Calif., with $343 million. Rep Robin Hayes, R-N.C., ranks third, with $173.4 million. House Speaker Nancy Pelosi, D-Calif., ranks sixth, with $62 million.
"In the Senate, the two Democrats from Massachusetts claimed two of the top three spots.
"Sen. John Kerry led the pack, with $336 million, while Sen. Edward M. Kennedy ranked third, with $104 million. Sen. Herb Kohl, D-Wis., ranked second, with $241.5 million. Overall, senators had a median net worth estimated at $1.7 million.
"The 535 members of Congress, who earn average annual salaries of $169,000 and receive cost-of-living pay increases, had a total net worth of $3.7 billion last year. Although some are likely to take a hit from Wall Street's woes, their average net worth soared by 61 percent from 2004 to 2007.
"Who's the wealthiest of them all?
1 John Kerry (D-Mass.)........$336,224,883
2 Herb Kohl (D-Wis.)........$241,545,513
3 Edward M. Kennedy (D-Mass.)........$103,560,020
4 Jay Rockefeller (D-W.Va.)........$93,715,011
5 Frank Lautenberg (D-N.J.)........$89,509,099
6 Dianne Feinstein (D-Calif.)........$84,171,162
7 Gordon Smith (R-Ore.)........$46,127,014
8 Olympia Snowe (R-Maine)........$33,308,537
9 Claire McCaskill (D-Mo.)........$32,428,089
10 Elizabeth Dole (R-N.C.)........$31,421,472
House of Representatives
1 Jane Harman (D-Calif.)........$397,412,077
2 Darrell Issa (R-Calif.)........$343,457,521
3 Robin Hayes (R-N.C.)........$173,409,173
4 Vern Buchanan (R-Fla.)........$165,748,714
5 Michael McCaul (R-Texas)........$64,073,077
6 Nancy Pelosi (D-Calif.)........$62,468,047
7 Carolyn Maloney (D-N.Y.)........$50,297,547
8 Rodney Frelinghuysen (R-N.J.)........$47,350,092
9 Nita Lowey (D-N.Y.)........$43,716,445
10 Gary Miller (R-Calif.)........$39,978,021
Source: Center for Responsive Politics
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.
Originally posted by xoxo stacie
Has it occurred to anyone that the catastrophe very well may be the banks locking down if they don't get what they are demanding? (total control and freedom from the laws) They did it once already and we all know how blackmail goes...get em once and go back for more.
Originally posted by n1zzzn
Yes, the last bailout worked, so let's throw more money intro the fray.
I love knowing that I have to pay into taxes this year and that money is going to go into the pocket of someone that doesn't care about me, doesn't know I exist and furthermore is willing to take money out of my pocket to line his or her own.
So let's keep giving money to these companies that dug their own grave. Or I just had a better idea. Let's issue some credits of this bailout to every person in the US and force them to pay off existing debt with it -- guarantee thats better than anything they've come up with yet.
Oh wait, nevermind, since my bill ideal doesn't benefit the crooks we'll never see a change from degredation of what we used to call life.
Still we don't know which country will be financing our debt.
The bill is a major test for Obama and Democrats controlling the Senate. There's unrest among Democrats such as Budget Committee Chairman Kent Conrad, D-N.D., and Ben Nelson, D-Neb., who have expressed concern that many of the items in the sprawling measure won't do much to stimulate the economy.