Most Senators Are Millionaires -- And Getting Richer

Roll Call:

The Senate's famed "millionaires club" is becoming a little crowded.

According to a Roll Call analysis of Senate financial disclosure forms filed in 2010, more than half of the chamber's membership, 54 lawmakers, reported a minimum net worth of more than $1 million. Another four Senators fell short of that mark by less than $100,000.

In addition, more than half of the Senate's membership saw their individual fortunes grow in 2009, the period covered by their most recent disclosure reports.

Read the whole story: Roll Call

Comments

[indiecratublican]

05:36 PM on 10/28/2010

Yeah, sometimes I wonder if these Dems who aren't campaigning aggressively or running on Democratic achievements in Congress have a secret motive to allow Republicans to take over so they don't have to publicly admit to supporting Republican economic interests. In a way, if the GOP dominates they will keep these rich Dems' pocketbook fat. After all, who wants to tax themselves or have the companies they invest in suffer. Dems can be just as corrupt as Republicans but due to their shame will be secretive or sneaky about it. For example, look at Chris Dodd and Rangel.

I mean, I'd like to think I'm wrong, but it blows my mind at how passively a lot of these Dem incumbents campaigned. It feels like they weren't even trying. And if we lose a number of seats it's not Obama's fault- it's theirs. Now, there's little that can be effectively done with voting on Monday.

Just a thought.

[SeaShell226]

04:18 PM on 10/28/2010

.
STOP THE
.
INSANI-TEA PARTY
.
Indeps and Dems ~ Get out and V O T E !

[glockman]

02:10 PM on 10/28/2010

Well what did we expect of our ruling class?

[twninja]

02:15 PM on 10/28/2010

They are the best of the best right?

[glockman]

02:21 PM on 10/28/2010

Not really. But we insist on sending them back every election cycle.

I'm not sure who's worse, them, or us.

[FoonTheElder]

12:57 PM on 10/28/2010

I guess that it's easy to become a millionaire in the Senate, seeing as the insider trading rules that apply to all other Americans don't apply to them.

As usual, there’s a different set of rules for Congress, the Administration, and staff.

Not only do they get gold-plated healthcare, while designing an East German system for the rest of us, they apparently aren’t subject to the same insider-trading rules that the rest of us are under.

According to Politifact,

Thomas Newkirk, a partner with the law firm Jenner and Block, told us that indeed there’s some uncertainty about how insider trading rules impact members of Congress and their staff.

For example, in 2001, a financial consultant meeting with the Treasury Department learned that the department planned to kill off the 30-year bond. In turn, the consultant tipped off traders at Goldman Sachs who proceeded to use that information to make the firm lots of money. It was considered insider trading because the consultant knew he was not supposed to release the information,

But with members of Congress, it’s different. Unless lawmakers have some express confidentiality agreement they can do whatever they want with the information they obtain on Capitol Hill, Newkirk said.

Right now, there is no duty of conflict for Congress, their staff or executive branch employees, he said."

http://www.tinyminds.net/2009/08/07/insider-trading-congress-and-admin-not-subject-to-the-same-rules/

[jJohnson1]

12:24 PM on 10/28/2010

Wait a second here, a million dollar net worth is a simple thing to achieve actually. own a home 150k, 401k after 10 years say 300K savings 200K, add in life insurance, stocks, social security, possesions such as a car, boat and so on, 1 miilion net worth is not yearly income.

[Secret Weapon]

12:13 PM on 10/28/2010

Yes, they live the good life, sit back in comfort while the true public works hard and barely survives. Share the wealth and stop worrying about your pocketbook and what new luxury item you are going to obtain next.

[Foxy Pachyderm]

11:57 AM on 10/28/2010

Funny how so many of these guys are Democrats. John Kerry? They talk middle-class, but they send their kids to private schools, support free trade, and watch their stock portfolios skyrocket.

The TEA Party might not save us, but a vote for Pelosi/Reid is a vote for 10% unemployment.

[Vernon Brown]

12:01 PM on 10/28/2010

Keep knocking back the kool~aid

[100eight]

12:18 AM on 10/29/2010

Does that electro-shock therapy tongue protector have an effect on what is left of your thinking capacity? Just what documentable wrongs did Harry Reid do? Certainly an answer Sharon Angle really never offered to the public. Just how did Pelosi/Reid create 10 % unemployment? Even Faux News can't help you on this one. No reply indicates too big a question for a big thinker like you and need for a time out.

[Foxy Pachyderm]

07:19 AM on 10/29/2010

No reply. Well, this is a reply. But I won't answer your easy questions, because you're stalking me. Creep.

[rosiebond007]

11:54 AM on 10/28/2010

I bet their home life sucks.

Ma has the credit cards and keeps mum !!

[Golfer59]

11:50 AM on 10/28/2010

Senate Democrats are really a big downer!!

[Core-Sample]

11:45 AM on 10/28/2010

That would explain the lack of urgency in creating new jobs for Americans.

[Cacey]

11:19 AM on 10/28/2010

Many of these so called millionaires made more money in the private sector before running for public office and they made money the old fashioned way, by earning it.

[Cleo Creech]

11:19 AM on 10/28/2010

We really do have to get money out of campaigning and politics, that doing the people's business and running for office has just become almost exclusively a rich man's game is not serving America well. Crunching some numbers this means a group that comprises roughly 2.5% of our population in the U.S. has over half of the real power to make laws that affect us all. Would we really tolerate this sort of outlandishly disproportate control from any other group?

[Agent672]

12:09 PM on 10/28/2010

i think we should have term limits. I know it may not be that popular on the left, but the longer people stay in office, the further reality becomes.

Term limits, public financing of ALL elections, and removal of corporate person-hood would have a very positive impact on our country.

[PC Contrarian]

10:58 AM on 10/28/2010

"the Texas Republican is among the 10 poorest Senators, tied with Sen. Saxby Chambliss (R-Ga.) in 90th place. "
Wow, I thought the Repubs were THE rich cats.

"Debbie Stabenow (D-Mich.) reported a negative net worth the previous calendar year. Stabenow reported net worth to $0. She reports no assets and no liabilities. "
Really? Not likely.

"Sen. John Kerry (D-Mass.) remains the wealthiest lawmaker, with $188.37 million. Another 21 Senators also are among the richest Members.
Sen. Herb Kohl (D-Wis.) ranks as the poorest Member of Congress in 2009, despite the fact that he likely is among the richest."
I'm sure these Dems can relate to struggling Americans; they must have a compassion gene than Repubs don't have.

[rosiebond007]

11:55 AM on 10/28/2010

Don't forget Kerry married UP.

[Vernon Brown]

12:04 PM on 10/28/2010

You're as PC as it gets.

[kwright]

10:47 AM on 10/28/2010

That is exactly what taxation without representation means to me. Someone that has millions cannot possibly know what it's like to struggle to pay bills or buy clothes for a family on
$7.45 an hour.
Also, how on earth can so few represent so many? We have no fair representation in D.C. Never have.
California has 2 Senators as does tiny Delaware. How is that fair?

[Core-Sample]

11:47 AM on 10/28/2010

We have no real democracy either. They pick a few candidates for us to choose from every time. We never really get to choose or vote into office the person we see fit. It's all planned out already.

[rosiebond007]

11:59 AM on 10/28/2010

This is a good case for more control of the election process.

Less time campaigning - 8 weeks max
Cap on money raised - no corporate interference
Term limits

That way we might have something better than all of these lawyers who have a reputation of padding their hours and fees.

Let's have some engineers, architects, businessmen - the general public in fact.
We would have more input into the structure and health of the country.

[Kris Bui]

10:44 AM on 10/28/2010

Shocker!