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Congressional Royals Far Outearn Constituent Proles

December 28, 2011 by  

Congressional Royals Far Outearn Constituent Proles

Over the past few decades, the wealth gap between lawmakers and their constituents has widened, says a recent report by The Washington Post.

Between 1984 and 2009, the median net worth of a member of the House of Representatives more than doubled from $280,000 to $725,000, adjusted for inflation in 2009 dollars and excluding home ­equity. During the same period, the median household income of Americans as a whole declined slightly from an already much lower $20,600 to $20,500, the article says.

The article explains that the growing wealth of Congress may have something to do with the high cost of campaigning, as wealthy individuals are more easily able to contribute to their own campaigns and gain office. Individuals running for Congressional office routinely spend into the millions campaigning, to achieve a position that pays $174,000.

The report on the growing Congressional-constituent wealth gap comes soon after a recent Congressional insider-trading scandal came to light. Lawmakers are involved in things like former House Speaker Nancy Pelosi buying stock in an initial public offering that earned hefty returns while she had access to insider information about pending legislation likely to impact those values.

A Gallup survey from last week found that only 11 percent of Americans approve of the job Congress is doing.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • s c

    I rest my case, ladies and gentlemen of the jury. If this doesn’t put a strong light on “taxing the rich” and making it impossible for anyone to be a career politician, I don’t know what it will take.
    SOAK the elected SOBs! And SOAK whoever winds up in the White House. Any adult who thinks ‘people’ go to Washington to ‘fight for America’ or be ‘good public servants’ needs a fricking brain transplant.

    • eddie47d

      Wow another brain fart from SC! Although you did get the “tax the rich” part right. Actually taxing them isn’t the most appropriate way of waking them up. They need a large demotion in how they collect their salaries and golden parachutes.Take away their piggy bank and their smugness and maybe they can see what the real world is like. What part of the wealthier are getting richer and the poor are sliding downward didn’t you grasp? Yes politicians gain income while doing their stint and every one of them is questionable. They are in bed with the crony capitalists and they pad each others bank accounts. Who are the Crony Capitalists or haven’t you figured that out yet? They are Americas capitalist system and they make piles of money while the Middle Class scrapes by. Money is flying upward and none is trickling downward. Is it time for a new revolution to stop these inequalities? Probably so but I doubt if you’d really understand why because your mind is too closed to the other side of the equation.

      • http://heisco.net Patriot II

        eddie;

        We should not blame Capitalism, Greed itself is the Culprit. Jesus was an advocate of Capitalism, but not Greed.

        To totally blame Capitalism as it’s own “entity” would mean we would hve to embrace total Opposite with is Socialism.as it’s equal opposite.

        So as not to ASSsume anything, are your comments really directed at Greed, or Socialism? Greed and Power have their place in a Socialistic Society as well, Don’t you agree?

  • wandamurline

    It also has to do with ethics and the fact that congress thinks that the laws of America that regulate the rest of the little people somehow does not apply to them. This is why we need laws passed that states, any law that congress passes they must also participate in. The fact that they have been using insider traders tips to expand their wallet should be a light to everyone and the fact that they passed Obamacare and exempted themselves. If they pass it, they participate in it and all the laws we have in America.

  • http://heisco.net Patriot II

    These ARE considered Public Servants, and we should pick them by Lottery of qualified candidates like we do for Jury Duty.

    They should get paid what they would have made if they were still working and reimbursed for expenses.

  • No fool

    Congressional Royals need to be banned from buying stock. It’s an obvious conflict of interest.

  • willy cooper

    money rules this country. always has, always will.

  • http://none Robert Waldron

    Its past time to term limit these politicians. Lets put US back in control of our Gov”t according to the US Constitution! PS. Maybe we should mail the politicians in Washington a copy!

  • http://www.dlopezforcongress.com Delia

    Martha Stewart went to jail for insider trading, why aren’t these crooks in jail? After the S & L crisis more than 1000 people went to jail. Everything these people are doing is illegal! It was not deregulation that caused the collapse it was government collusion aiding and abetting the crooks and no one is in jail. Massive corruption starting with the FED is the problem.

    • eddie47d

      I’ve been asking why more corporate crooks haven’t gone to jail (like with the S&L) or why more Homeowners weren’t bailed our because of corporate schemes. They do the crime and the public does the time. Now the Federal Reserves is private yet pulls our governments strings. The public is definitely getting the short end of the stick.

  • Patriot

    The U.S. is now officially a banana republic. Pathetic.

  • Truth Be Told

    We are Haiti!!!! The rich and the poor in America.

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