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Members of Congress are enjoying their own financial stimulus.
Despite a stubbornly sour national economy congressional members’ personal wealth collectively increased by more than 16 percent between 2008 and 2009, according to a new study by the Center for Responsive Politics of federal financial disclosures released earlier this year.
And while some members’ financial portfolios lost value, no need to bemoan most lawmakers’ financial lot: Nearly half of them -- 261 -- are millionaires, a slight increase from the previous year, the Center’s study finds. That compares to about 1 percent of Americans who lay claim to the same lofty fiscal status.
And of these congressional millionaires, 55 have an average calculated wealth in 2009 of $10 million or more, with eight in the $100 million-plus range.
In 2009, the median wealth of a U.S. House member stood at $765,010, up from $645,503 in 2008. The median wealth of a U.S. senator was nearly $2.38 million, up from $2.27 million in 2008.
The Net Worth of the US is only 23.79% of the Net Worth of our representatives. Do you feel very represented? Do you wonder why there is no immediate action to help create jobs or assist the poor? Ever wonder why there is no serious action taken to reduce poverty or income inequality? Wonder why they have no true desire to regulate the companies that they are making millions off of?
There is no representation in a supposedly representative government when your representatives make 4 times the average income of the general population.
They represent the top 1% of the population because they ARE the top 1% of the population!
The current salary (2010) for rank-and-file members of the House and Senate is $174,000 per year.
"Including all tax returns that had a positive AGI [adjusted gross income], taxpayers with an AGI of $153,542 or more in 2006 constituted the nation's top 5 percent of earners. To break into the top 1 percent, a tax return had to have an AGI of $388,806 or more. The top-earning 25 percent of taxpayers [have an] AGI over $64,702."
When you have the top 1% managing the assistance and creating policies to assist the poor which make up 14% of the US population, how could they possibly help them or even care to help them?
No wonder anyone who dares to challenge the establishment is kicked out, the establishment are the elites. When we think of multi-millionaires we don’t tend to think about DC but rather Wall Street. There is no worry or focus on Main Street when nearly everyone is living like they are on Wall Street.
That’s why anyone who dares to question the upper class is demonized and destroyed and labeled a Socialist because they would never want anyone in office who might break up the whole cabal.
When will people wake up and see that someone crusading for the Middle Class and talking about class issues is not someone who is committing class warfare that is someone who is defending you.