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Home > Blogs > Ohio politics > Archives > 2009 > November > 05 > Entry
In Congress the rich get poorer, a little bit anyway
While regular Joes across America rely on unemployment benefits and max out their credit cards to get by, members of Congress can say they feel their pain.
Current congressional members’ median wealth uncharacteristically dipped 5 percent in 2008 compared with 2007, a Center for Responsive Politics analysis of federal personal financial disclosure reports found.
Don’t feel too badly for them, though. Congress is still a club with 237 millionaires and 50 members have at least $10 million.
“Generally speaking, members of Congress are wealthy by comparison with the vast majority of Americans. That doesn’t mean they’re immune to the effects of this ailing economy — they’re not,” said Sheila Krumholz, the Center for Responsive Politics’ executive director. “But they are much better positioned to withstand financial pressures than the people they represent.”
The CRP found that current U.S. senators have a median reportable worth of $1.79 million while House members’ median income was $622,254 in 2008. That’s down from $2.27 million and $724,258, respectively, in 2007, the report said.
U.S. senators currently serving have a median reportable worth of $1.79 million for 2008, down from $2.27 million in 2007, CRP’s analysis indicates. Meanwhile, currently serving House members’ median income was $622,254 in 2008, down from $724,258 in 2007.
Members of Congress are required to report their wealth and liabilities in broad ranges. CRP calculated members range of asset values and average estimated wealth. Here is Miami Valley delegation members’ net worth ranges and how they ranked in the House and Senate:
Steve Austria, R-Beavercreek, net worth $6,006 to $90,000, ranks 387th John Boehner, R-West Chester, net worth $1.7 million to $6.6 million, ranks 70th Jim Jordan, R-Urbana, net worth $105,008 to $327,000, ranks 319th Jean Schmidt, R-Cincinnati, net worth $2.8 million to $9 million, ranks 48th Mike Turner, R-Centerville, net worth $172,091 to $1.4 million, ranks 192nd.
Sherrod Brown, D-Avon, net worth $65,009 to $275,000, ranks 92nd George Voinovich, R-Cleveland, net worth $665,055 to $2.3 million, ranks 58th
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By Philman
November 10, 2009 5:17 AM | Link to this
Yes Laura but you failed to mention the big difference Republicans pay their TAXES, Democrats don’t, its the old do as I say not as I do, and the Really big tax cheats get hired by Obama…..