Laura Clawson wrote about the widening income gap between Congress and the people they represent. But the wealth of Congress really hits home when you see the visual representation.
According to a Roll Call analysis of Congress members’ financial disclosure forms, the collective net worth of American lawmakers jumped 25 percent to over $2 billion in just the last two years—with 50 of the richest Congressmen and women accounting for 90 percent of the increase. [...]
Any way you slice it, the average Congress Member is a serious chunk of change richer than the average citizen of the country he or she was elected to run: Congress’s median net worth last year was $513,000, which the median net worth among American households was around $100,000 — a number which, according to the Federal Reserve Board, has dropped by $20,000 since 2008.
Remember the report released from Social Security this fall on the widening income gap in America?
The SSA said 50 percent of workers made less than $26,364 last year — and most Americans have fewer job opportunities available to them. But the wealthiest Americans are relatively unscathed, with those earning $1 million or more jumping 18 percent from 2009.
Half of Americans made less than $27,000 last year. Half. We need a new Congress, one that isn't composed primarily of the 1 percent.