Occupy protesters marched down Pennsylvania avenue to Freedom Plaza rallying against consolidation of wealth in America’s one percent.
The trend is also starkly seen in Congress. The rich are getting richer on Capitol Hill. And members of Congress appear to be getting wealthier at a faster pace than the rest of the nation.
According to Role Call, members of Congress’ collective personal net worth increased 25% in the last two years to more than $2 billion dollars.
Nearly 90 percent of the increase in wealth among members of Congress is concentrated in the 50 richest lawmakers.
According to Role Call, the average Member of Congress
is far wealthier than the average U.S. household and lawmakers are all a lot richer than any typical American.
For example, the average net worth for each Member is close to 4 million excluding homes. By comparison, according to the Federal Reserve, the average household net worth is around $500,000 including personal residences.
A handful of Members of Congress are worth tens or even hundreds of millions of dollars -which skews averages, as well
as in the general population.
We need to get money out of politics human needs not corporate greed.
Experts believe the wealth totals on Capitol Hill are vastly
underestimated because the accounting system does not include homes and other non-income-generating property, which is likely to tally hundreds of millions of uncounted dollars.