Another Reason Why Congress is Clueless
December 27, 2011
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Today we have more evidence that as the average Joe and Jane get poorer members of Congress get richer… lots richer. Most of our senators and representatives are millionaires with a median net worth of $725,000. The median for the average American family is a measly $20,500. No wonder these guys don’t want millionaires to pay their fair share of taxes.
And if you’re not already worth millions, being elected to the House or Senate is perhaps the fastest way to become a millionaire. Over the past 25 years, congress’ median net worth more than doubled: yours and mine declined by 3%.
|How can lawmakers be expected to look out for the interests of everyday citizens when the biggest issues facing them — unemployment, health care, wages — are unknown to most of those who are making the laws?
—The Atlantic Wire
Contributing to the huge disconnect between the electorate and elected is the fact that many Capitol Hill millionaires have never held a regular job; many of them acquired their wealth the Wall Street way, collecting interest and dividends from tax-privileged investments, legal-for-Congress-only insider trading and via favors from political backers. They have no notion of what it’s like to work 9-to-5, or 8-to-6, or hope for overtime, or worry about layoffs and health insurance.
You and Me
So most of the folks we’ve sent to Washington to solve our problems know little to nothing about those problems. No wonder, I guess, that their only focus is on protecting the interests of the wealthiest few Americans, a group that just happens to includes them.