Congressmen are Twice as Rich Now as They Were in 1984
"The rest of us are actually poorer. NYT reports that the median net worth of a member of Congress climbed 15 percent from 2004 to 2010, to $913,000; meanwhile, the median net worth for all Americans dropped 8 percent over that same period, to roughly $100,000. The lawmakers’ gains are even more noteworthy because over that same period the net worth of the richest 10 percent of Americans remained essentially flat, based on inflation-adjusted figures, says Slate. More regulations and more Wahington D.C.-based power centers result in many more wanting to influence congressmen, legally or illegally." Continue reading →