Monday, January 13, 2014

Over Half Of House Of Representatives Are Millionaires

According to a study by, for the first time in American history the House of Representatives has more millionaires than not. Of the 534 men and women in the House, 268 are now millionaires. Of those in seats in May, 2013 (the filing deadline), the median net worth of members of the House was $1,008,767 - up from $966,000 during the previous year.

It's no secret that politics can be a financially lucrative career. Many politicians get into politics after making their fortunes in the private sector - some as businessmen or entrepreneurs and many as attorneys. Barack Obama was an attorney, a community organizer, a college instructor and an author. It didn't hurt him - he's worth about 14 million dollars now. And that's OK. He earned his money legally as far as we know. However, since he said in April of 2010 "I do think at a certain point you've made enough money." I can't help but wonder Mr. Obama will ever reach that point himself?

Contrary to what some liberals preach there is nothing wrong with being wealthy. America is the land of opportunity - or it was until the economy went South and jobs began disappearing. But there are still opportunities out there for the future Bill Gates, Steve Jobs, Darrell Issa (who made his fortune as the magnate of the Viper car alarm system), etc. Some people will take full advantage of that opportunity and gain tremendous wealth and others will only live comfortably. But opportunity is there.

What's interesting about the AllGov study is that there are more Democrat millionaires in Congress than Republicans. Wait...  what? Democrats are the party of the working man and the Republicans are the evil, rich ones. That's what Democrats will tell you, anyway. But the median net worth of Democrat Representatives as of the May 2013 filing was $1.04 million versus the $1 million by the Republicans. 

".04 million isn't that much," one might say. And that's true (except to those of us who don't have it.) But that's not the point. Democrats decry wealth as evil. They demand that those evil "1 percenters" who have money share it with those who have not and they (Democrat politicians) think they should be the ones who decide how wealth sharing is accomplished. And their liberal supporters agree with them even as those same Democrat leaders (who are also 1 percenters) continue to gain more wealth!

The story is a little different on the Senate side of the House - at least now. Republican Senators currently have a greater net worth than Democrat Senators - $2.9 million versus $1.7 million. However, Senate Democrats' median net worth fell sharply when John Kerry became Secretary of State and Frank Lautenberg passed away, dropping the Senate numbers by a combined total of $335 million. That said - the four richest Senators currently serving are still Democrats: Mark Warner of Virginia ($257 million), Richard Blumenthal of Connecticut ($104 million), Jay Rockefeller of West Virginia ($101 million) and Diane Feinstein of California ($68 million).

A few years ago I posted a blog about Nancy Pelosi, her wealth, her husband's overseas companies that employ people at a wage far below the U.S.'s minimum wage, and the investments they have in companies and businesses here in the States that are non-union businesses - even as Mrs. Pelosi decries wealth and non-union businesses. It's amazing to me that liberals can support people like that who talk a good game for the liberal causes but in reality don't do any of it themselves. And when you point out the hypocrisy to those liberal supporters they somehow think it's OK or they simply choose to ignore it because their candidate is still saying the right things.

Democrats prove, over and over again, they are hypocrites of the worst kind. Some liberals like to point to the "scientific studies that prove liberals are more intelligent than conservatives." Maybe as far as a college education goes that's true. Maybe not. Many Republicans pass college by and go to work, helping to strengthen the economy. I can't help but wonder if you've got a great education and you vote for people who blatantly lie to you, tell you things you should do that they themselves wouldn't do, and want to take your money while continuing to earn far more for themselves than you will see in a lifetime - how intelligent is that?

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