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Ruled By Wealth, Congress Made Up Of Millionaires

September 9, 2011 by  

Lawmakers like Minority House Leader Nancy Pelosi (D-Calif.) had a banner year in 2010, as she added millions of dollars to her fortune while working in Congress.While the U.S. is struggling to recover from the 2008 recession and unemployment figures remain over 9 percent, members of Congress are doing quite well financially. The top 50 lawmakers are worth a combined $1.6 billion, The Hill reported.

The Hill released its list of the 50 wealthiest members of Congress, a group which included leaders from both sides of the aisle.

At the top of the list was Representative Michael McCaul (R-Texas) who has a reported net worth of more than $287 million. The Congressman knocked Senator John Kerry (D-Mass.) off his perch as the richest lawmaker, according to news outlet.

Minority House Leader Nancy Pelosi (D-Calif.) Pelosi saw her net worth increase by more than $14 million in 2010, due to real estate investments and stock plays, bringing the her total to more than $35 million, according to the news outlet.

The Hill released the list just weeks after Warren Buffet attacked the group of lawmakers in Congress and suggested that wealthy individuals should pay more per year to ease the burden on normal Americans, USA Today reported.

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