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Thread: Congress Gets Richer

  1. #1
    Havakasha is offline

    Congress Gets Richer

    No wonder why the Republicans are trying to protect the top 1%. lol


    Congress: The rich get richer
    “Members of Congress had a collective net worth of more than $2 billion in 2010, a nearly 25 percent increase over the 2008 total, according to a Roll Call analysis of Members' financial disclosure forms,” Roll Call writes. “Nearly 90 percent of that increase is concentrated in the 50 richest Members of Congress.” Among the richest, Reps. Mike McCaul (worth at least $294 million) and Darrell Issa (at least $295 million).

  2. #2
    SiriuslyLong is offline
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    "One interesting finding in the Roll Call analysis: Democrats, led by Sen. John Kerry of Massachusetts, hold about 80% of the wealth in the Senate. In the House, Republicans have about 78% of the wealth."

    How selective of you to omit this little factoid.

    Here's the link so people can read it for themselves.

    http://content.usatoday.com/communit...hael-mccaul-/1

    And check out the average wealth of those senators.

    http://www.opensecrets.org/pfds/averages.php

  3. #3
    Havakasha is offline
    I didn't omit anything. I just posted an article i thought was interesting. It doesnt menition
    the word Democrat or Republican. I brought up Republicans because they oppose any sacrifice
    on their part.
    Those Democrats are willing to tax themselves at a higher level
    for the good of the country and the Republicans arent.
    I think that says it all.

    P.S. I almost forgot. There are 237 millionaires in Congress. Doesnt that tell you something about
    our political system?
    Last edited by Havakasha; 11-01-2011 at 09:07 PM.

  4. #4
    Havakasha is offline
    Millionaires Support Warren Buffett's Tax on the Rich
    http://blogs.wsj.com/wealth/2011/10/...x-on-the-rich/

    Millionaires Support Warren Buffett’s Tax on the Rich
    By Robert Frank

    Warren Buffett isn’t the only rich guy who wants to higher taxes on the rich.

    A new survey from Spectrem Group found that 68% of millionaires (those with investments of $1 million or more) support raising taxes on those with $1 million or more in income. Fully 61% of those with net worths of $5 million or more support the tax on million-plus earners.

    Buffett, as you might recall, has proposed raising taxes on million-plus earners, saying the ultra-rich pay lower rates than everyday workers.

    Rich people’s opinions of Buffett remain fairly positive in the wake of his tax-me-more crusade. More than a third of millionaires and ultra-high-net-worths said they have a more positive opinion of Buffett after his tax proposal. Only 19% of millionaires and 22% of the $5 million -plus group said they had a more negative opinion of him after the proposal.

    More than 40% of both groups said their opinion hadn’t changed.

    In other words, Buffett’s proposal had more supporters than detractors among the rich — though that support declines slightly as you move up the wealth ladder.

    Explains George Walper of Spectrem: “What this tells us is that there are a number of wealthy folks who said: ‘Gee, we need to increase taxes to stimulate the economy. No one likes to be taxed more, but the reality is maybe it has to be done.’ ”

    Walper added that he was also surprised at the positive reactions to Buffett’s political agenda. “I thought that among this group there would be a feeling of ‘why doesn’t he keep his nose out of it?’”

    As part of its survey, Spectrem Group also collected comments from the respondents. Here are a few highlights, from both the pro-Buffett and anti-Buffett camps:

    PRO-BUFFETTS

    “When you have someone who made four and a half billion pay fifteen percent, and because it’s a hedge fund, I have a problem with that.”

    “Quite frankly if Warren Buffett gets taxed an extra fifty thousand dollars or your typical investor of two hundred and fifty [thousand] or larger has to pay an extra thousand dollars in tax; It’s not gonna change his lifestyle. Whatever he or she was gonna buy, he or she is gonna buy.”

    ““I think theoretically it would be good for this country and put some more money in the coffers, personally it wouldn’t be good for my family so I’m kind of at conflict between self interest and what might be good for the country.”

    ANTI-BUFFETTS

    ““I think some of that spirit of America is lost when you start penalizing so to speak, the folks who have more.”

    “I think there should be a voluntary check box on the tax form that says, if you would like to send in more please do.”

    ““For myself, if there were an increase in taxes, I’m probably gonna button up some spending.”

    The survey and comments prove that the rich are not the monolithic, entirely self-serving group that is often portrayed in the media. They are just as divided as the rest of the country. And many are willing to pay more taxes.

  5. #5
    Havakasha is offline
    Report: 237 millionaires in Congress


    By ERIKA LOVLEY | 11/6/09 12:14 PM EDT


    CRP says California Republican Rep. Darrell Issa is the richest lawmaker on Capitol Hill, with a net worth estimated at about $251 million.

    Talk about bad timing.

    As Washington reels from the news of 10.2 percent unemployment, the Center for Responsive Politics is out with a new report describing the wealth of members of Congress.

    Among the highlights: Two-hundred-and-thirty-seven members of Congress are millionaires. That’s 44 percent of the body – compared to about 1 percent of Americans overall.

    CRP says California Republican Rep. Darrell Issa is the richest lawmaker on Capitol Hill, with a net worth estimated at about $251 million. Next in line: Rep. Jane Harman (D-Calif.), worth about $244.7 million; Sen. Herb Kohl (D-Wis.), worth about $214.5 million; Sen. Mark Warner (D-Va.), worth about $209.7 million; and Sen. John Kerry (D-Mass.), worth about $208.8 million.

    All told, at least seven lawmakers have net worths greater than $100 million, according to the Center’s 2008 figures.

    “Many Americans probably have a sense that members of Congress aren’t hurting, even if their government salary alone is in the six figures, much more than most Americans make,” said CRP spokesman Dave Levinthal. “What we see through these figures is that many of them have riches well beyond that salary, supplemented with securities, stock holdings, property and other investments.”

    The CRP numbers are somewhat rough estimates – lawmakers are required to report their financial information in broad ranges of figures, so it’s impossible to pin down their dollars with precision. The CRP uses the mid-point in the ranges to build its estimates.

    Senators’ estimated median reportable worth sunk to about $1.79 million from $2.27 million in 2007. The House’s median income was significantly lower and also sank, bottoming out at $622,254 from $724,258 in 2007.

    But CRP’s analysis suggests that some lawmakers did well for themselves between 2007 and 2008, even as many Americans lost jobs and saw their savings and their home values plummet.

    Senate Minority Leader Mitch McConnell (R-Ky.) gained about $9.2 million. Sen. James Inhofe (R-Okla.) gained about $3 million, Sen. Daniel Inouye (D-Hawaii) had an estimated $2.6 million gain, and Richard Shelby (R-Ala.) gained about $2.8 million.

    Some lawmakers have profited from investments in companies that have received federal bailouts; dozens of lawmakers are invested in Wells Fargo, Citigroup, Goldman Sachs and Bank of America.

    Among executive branch officials, CRP says the richest is Securities and Exchange Commission Chairwoman Mary L. Schapiro, with a net worth estimated at $26 million.

    Secretary of State Hillary Clinton is next, worth an estimated $21 million. President Barack Obama is the sixth-wealthiest, worth about an estimated $4 million. Vice President Joe Biden has often tagged himself as an original blue collar man. The CRP backs him up, putting his net worth at just $27,000.

    He’s hardly the worst off.

    Rep. Alcee Hastings (D-Fla.), freshman Rep. Harry Teague (D-N.M.), Rep. Jeff Fortenberry (R-Neb.), Rep. John Salazar (D-Colo.) and Rep. Sander Levin (D-Mich.) each a net worth of less than zero, CRP says.

    One caveat on those numbers: Federal financial disclosure laws don’t require members to list the value of their personal residences. That information could alter the net worth picture for many lawmakers.

    Even so, Levinthal said, “It is clear that some members are struggling financially.

    “Over a calendar year, one’s wealth can change drastically. Many peoples’ investments took a nose dive over night in the last year,” he said.

    A number of lawmakers are estimated to have suffered double-digit percentage lossed in their net worth from 2007 to 2008. The biggest losers include Kerry, who lost a whopping $127.4 million; Warner lost about $28.1 million; Sen. Dianne Feinstein (D-Calif.) lost about $11.8 million; and Sen. John McCain (R-Ariz.) lost about $10.1 million.

  6. #6
    SiriuslyLong is offline
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    Quote Originally Posted by Havakasha View Post
    P.S. I almost forgot. There are 237 millionaires in Congress. Doesnt that tell you something about
    our political system?
    Sure does! And you endorse it, at least the left part of it. As a non party affiliate, I reject all of it.

    But you did omit a link and the comments about the democratic senators. Don't try to weezle out of it. It's fine to claim that "democrats are willing to tax themselves", but until it actually happens, it may as well be posturing. You kind of said it yourself - politicians are politicians.

  7. #7
    SiriuslyLong is offline
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    Did you also know, post or realize that the dreaded Koch Bros. funded the guy who recently reversed his position on warming?

    What kind of republicans are these Bros???

  8. #8
    Havakasha is offline
    This is not a thread about global warming. You know where that is posted.

    I didnt omit anything. Here is the link and the post. I started the thread with this. There is nothingabout Democrats or Republicans mentioned.

    http://firstread.msnbc.msn.com/_news...ich-get-richer
    Congress: The rich get richer
    “Members of Congress had a collective net worth of more than $2 billion in 2010, a nearly 25 percent increase over the 2008 total, according to a Roll Call analysis of Members' financial disclosure forms,” Roll Call writes. “Nearly 90 percent of that increase is concentrated in the 50 richest Members of Congress.” Among the richest, Reps. Mike McCaul (worth at least $294 million) and Darrell Issa (at least $295 million)."

    Its absolutely not "posturing". Its something Democrats support and Republicans vehemently
    oppose. As i have proven in a number of instances facts are hard things for you to sometimes acknowledge.

    You are awfully defensive for a "non-party affiliate". lmfao
    Last i checked you are a fan, even supporter of Ron Paul (and Rand Paul?) They are Republicans
    in Congress and multi millionaires. Pretty obvious where you stand on the ideological spectrum.
    Last edited by Havakasha; 11-02-2011 at 01:16 AM.

  9. #9
    SiriuslyLong is offline
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    Hava-gafa-kasha writes,

    "Pretty obvious where you stand on the ideological spectrum"

    Likewise. And you did not put a link in the original post. Would you like to see it? Here, because I know how hard it is for you to look up.

    "No wonder why the Republicans are trying to protect the top 1%. lol


    Congress: The rich get richer
    Members of Congress had a collective net worth of more than $2 billion in 2010, a nearly 25 percent increase over the 2008 total, according to a Roll Call analysis of Members' financial disclosure forms,” Roll Call writes. “Nearly 90 percent of that increase is concentrated in the 50 richest Members of Congress.” Among the richest, Reps. Mike McCaul (worth at least $294 million) and Darrell Issa (at least $295 million)."


    Nothing about democrats or republicans?

  10. #10
    Havakasha is offline
    HEY dummy. I WROTE the "no wonder why the Republicans are trying to protect the top 1%. lol.
    It wasnt part of the article. It was MY commentary.
    For the third time. You said I omit "the comments about Democratic Senators."

    There was NOTHING posted in the link about Dems or Republican Senators and their wealth statistics.

    Republicans overwhelmingly oppose taxing the top !% and Democrats overwhelmingly support it.
    That is just a simple fact so i really dont understand your defensiveness.

    The point of the thread is that it is getting increasingly difficult to be elected in this country without having
    personal and corporate wealth behind you. The Citizens United ruling by the Supreme Court is one of the reasons
    this is so.

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