Representing the little man: On average, lawmakers 18 times wealthier than regular Americans

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Your congressman will tell you he’s just like you. But if you’re still wondering how that’s true when he doesn’t understand how a modest tax could have a devastating impact on your bottom line, consider this: According to new study from the Center for Responsive Politics, the average net worth of a member of Congress is 18 times that of the average American family.

“At a time when income inequality is much debated, the representatives we choose are overwhelmingly affluent,” said CRP’s Executive Director Sheila Krumholz. “Whether voters elect them because they are successful or because people of modest means do not run, or for other reasons, is unclear, but struggling Americans should not assume that their elected officials understand their circumstances.“

The average net worth of households in America was just $56,355. That’s compared to an average net worth of $1,029,505 for the nation’s elected class.

Worse yet, as the average Americans’ net worth declined by a third between 2007 and 2013 lawmakers have seen their worth increase, from an average of $2.3 million to $2.8 million in the Senate and from $708,500 to $$843,507 in the House.

“It’s almost never a down year for Congress. Since OpenSecrets.org began publishing an annual report on lawmakers’ net worth in 2006, the numbers have increased every year but one — 2008,” the report says. “This year’s jump of over 2.5 percent is slightly less than the increase between 2011 and 2012 of 4.4 percent, but still greater than the rate of inflation.”

Many lawmakers made their fortunes before arriving on Capitol Hill but, according to the report, some have amassed considerable wealth during their legislative tenures.

One notable example appeared earlier this month with WND writer Jerome Corsi’s analysis House Speaker John Boehner’s financials:

Since the passage of Obamacare, House Speaker John Boehner has been dogged by critics pointing out his investment portfolio has benefited from owning insurance and medical company stocks that have profited from the legislation.

An analysis of Boehner’s current investment holdings includes a number of stocks benefiting from Obamacare in a total portfolio estimated at between $3.5 and $5 million in current market value.

Currently, America’s wealthiest member of Congress is Rep. Darrell Issa (R-Calif.), with an average net worth of $448.4 million. The least wealthy lawmaker, Rep. David Valadao, also a Caliornia Republican, has a net worth of negative $11.5 million.

Read the full report here.

Personal Liberty

Sam Rolley

After covering news and politics for traditional media outlets, Sam Rolley took a position at Personal Liberty Media Group where he focuses on his true passions: national politics and liberty issues. In his daily columns and reports, Rolley works to help readers recognize lies perpetuated by the mainstream media and develop a better understanding of issues ignored by more conventional outlets. Follow him on Twitter @SamRolley