There Are 237 Millionaires Serving In Congress Right Now

Proof  •  November 8, 2009

That’s 44%. And there are probably more, given how broad and riddled with loopholes congressional reporting requirements are (remember that it wasn’t until the Countrywide scandal broke that anyone learned Senator Kent Conrad had a $3.1 million beach house in Delaware):

Only one percent of Americans can claim to be millionaires, yet 44 percent of members of Congress are millionaires according to the Center for Responsive Politics. CRP argues that more transparency in financial disclosure requirements is needed.
The Center for Responsive Politics released a study which found that, while only one percent of all Americans are millionaires, 44 percent of congressional members can make that claim.

Here is perhaps the most interesting revelation:

According to Sphere, when the federal government bailed out several U.S. banks in 2008, “the second most commonly held stock among members of Congress was Bank of America,” the CRP study showed. Other bank stocks commonly owned by members of Congress and receiving congressionally approved funds were Citi Group, Goldman Sachs, and Wells Fargo.

Just a coincidence, I’m sure.

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  • http://Array sayanything-2

    Oh, and if you want to talk artillery systems, the one developed by Germany was BLOCKED from being adopted initially by US by you Democrats, who are in bed with UD. Your boy, Jackoff Murtha. You need to talk to him about this one.

  • AKA WOOF

    Fookin peasants, always complaining

  • farm4money

    there sure as hell is if you came by it in a dishonest fashion. no assets when you go to dc and poof your a millionaire on less than 200,000. in salary. ….. jessie james robbed banks because that was where the money was, that is also why the professional politicians who never earned a dime in the real world go into politics …. it is where they can steal unlimited amounts of money ..

  • Hanni

    Gee Rob, i wonder how many millionaires are running corporations???? Or Football teams, or baseball teams, or on and on and on.

    Are you really making the stupid argument that ALL these people are crooks?

    And how do you think that differs how crooked corporation CEOs made their money???? Off the sweat of the little guy??

  • jimmypop

    people with power always get free stuff. whether its notepads, coffee cups, shirts, trips somewhere ‘to see products being made’ or whatever. go to any place and see if the ‘little people’ have any free stuff or offers of free stuff. they dont.

    when you are talking money at this level its not shocking, even a little, that these people get paid legally or illegally.

    the answer is term limits.

  • sayanything-9974

    Is it possible that you are that thick? At least CEO’s and corporations are upfront about their loyalties and interests. Have you ever even heard of conflict of interest? Do you understand integrity or honesty. Of course not you are a Dem/Lib. I know, It’s is all Bush’s Fault. I can only hope you are able to win a Darwin award soon. Yyou guys call southerners undereducated and ignorant. Compared to you, they are all rocket scientist. You make an idiot like Al Gore look brilliant. You truly are a glittering jewel of colossal ignorance.

  • http://fu.com/ robert108

    “Are you really making the stupid argument that ALL these people are crooks?”

    They are definitely parasites, unless they earned their money before they became politicians.
    It is essentially crooked when the servant becomes wealthy at the expense of the master.
    They are “public servants”, remember?

    Under our Constitution, the people have the right to limit the compensation of the politicians; the politicians have no right to limit the compensation of the people.

  • http://fu.com/ robert108

    Isn’t it obvious that it depends on how you get it?

    Politicians produce nothing but debt for those of us who pay them.

  • TheTodd (now with child!)

    Rob: (remember that it wasn’t until the Countrywide scandal broke that anyone learned Senator Kent Conrad had a $3.1 million beach house in Delaware)

    That hyperlink goes to an article claiming Conrad’s second-home is a $1.4 million beach house in Delaware. I’m well-adjusted, so I didn’t bother to check which total is correct.

    Checking through the comments on that thread, I think it’s hilarious how little the commenters know about real estate prices…

  • Dan

    I am confused is there something wrong with having money?

  • sayanything-3960

    How many of them have ever worked in the private sector

    That is about as relevant as asking how many have inherited their money. If you want to only vote for people who have worked in the private sector that is up to you. But it isn’t a requirement for being elected to Congress.

  • jimmypop

    Checking through the comments on that thread, I think it’s hilarious how little the commenters know about real estate prices…

    if only we all had a countrywide ceo to give us loans and advice.

  • Hanni

    God Rob you are clueless:

    The difference between the private sector and government is choice.

    Are you kidding me? You mean I have a choice who my corporate CEO is? No we don’t.

    We actually have a choice who our Congressmen are.

    Private sector millionaires get their money by offering goods and services other people want and/or need.

    No kidding. But they make their money of our hard work. And often while they bankrupt the company that pays them millions.

    I know you’re not really bright enough to grasp this difference, and that you’re so afraid of having to take care of yourself

    You fool. Between the two of us, I am the only one who started and sold his own business and I actually work. You…not so much.

    I am a success and you just bitch about sh@t.

  • jimmypop

    The difference between the private sector and government is choice. Government uses coercion. I do what the government says or I get fined. Or go to jail.

    this is the exact point! whether its purchaser of products or the people that work for the ‘evil’ business owner, neither has to participate.

  • sayanything-2

    Really, where is that list of defense industry companies, seeking rent? Anytime, we will be waiting.

  • Brent

    Don’t these guys make something nearing $200k per year? If they are in for 12 years (or even less), they should be millionaires just from their congressional salaries alone.

  • Hanni

    No company says “You know what we need to do? We need to drop 500 million on a guy who’s going to do nothing but drain 500 million!”

    We wouldn’t have an economy if that’s how companies operated.

    Good lord. Welcome to 2009 Kenny.

    Do you have any f-ing idea how many bad CEOs almost destroyed our economy and robbed their employees of their wealth….you complete ignorant hack?

  • sayanything-2

    And this 237 number needs broken down by Party.

  • Hanni

    Dumb@ass says:

    I wouldn’t expect someone who has never had a job to understand how business actually works, but CEO’s don’t rob anyone. At least not in well-run companies.

    $200.00 says you have never worked for a fortune 50. You are just a small town guy who discovered the internet can give any idiot a voice.

    You don’t work with professionals in the corporate world and I will wager another $300.00 you have never sat in a round table with execs before.

    Put your money where you mouth is kid.

    Carly robbed a lot of people……as she was shown the door for making all numerous bad business decisions for HP. Splitting up business segments and isolating revenue figures had a long lasting negative impact on their storage and server business. Not that you would know anything about that.

    Sadly, our government seems to be in the business of propping up the poorly-run companies where people are getting robbed at the expense of the well-run enterprises.

    Was that supposed to make sense?

    But really, isn’t this a free country? What does it matter how a person makes their money, or how much money they make,

    I don’t know, you tell me, you are the guy who is complaining about some of our congressmen being millionaires. How do you think John Edwards made his money? You idiot.

  • sayanything-2

    Again, rent seeking has a specific meaning, which you know. So, why are you lying?

  • sayanything-2

    sanni, you are a welfare whore, the only jobs you have had are driving that taxi, selling drugs, and pimpiing your transvestite friends.

  • sayanything-2

    Thats not what rent seeking means, and spark knows that. It is why he used that specific term.

  • sayanything-70

    I checked the wrong one. I do not like this. I don’t mind wealthy people. I just mind those who make their millions off my back and my tax doller. Go away Dino.

  • Hanni

    I love private sector millionaires. They, for the most part, are the innovators and inventors and entrepeneurs who drive our economy.

    I said corporate millionaires. There is a difference.

    Corporate millionaires are seldom inventors or entrepreneurs. They are usually college educated and good ol boy network management types that

    Most of the millionaires are your small business millionaires. Doctors, surgeons, Architects, Land developers ect. ect. These are the people who earn their money.

    Corporate CEOs just rob the hard workers of making the company successful while they mismanage the company. Carly Fiorina is a prime example of this type of CEO.

  • Bill

    Considering insider trading rules, a lot of those bastards should be in prison. The rule makers should be held to an extremely high standard, if what you say about BOA, Goldman Sachs, etc, is true.

    Nothing wrong with wealth, but if the SEC can take my license away and throw me in prison, then congress should be held to the same standards.

  • sayanything-2

    Who in the defense industry is seeking rent, spark. Names, man, names!

  • sayanything-2

    Poor spark, all f&cked up again. Squeeze out a few tears for us now.

    It all depends on how they got their money. And while we are on the subject, if you are a millionaire and in elected office why are you being paid and receiving free healthcare? Why do leftards defend these thieves?

  • sayanything-2

    “How do you think John Edwards made his money? ” He stole it from people who had medical problems, you idiot.

  • sayanything-1317

    Even corporate millionaires are, for the most part, people who create wealth. Management matters in business. No company says “You know what we need to do? We need to drop 500 million on a guy who’s going to do nothing but drain 500 million!”

    We wouldn’t have an economy if that’s how companies operated.

  • sayanything-81

    If one is familiar with the Federalist papers, as Rob no doubt is given his education, one knows the exact rationale for having the affluent in congress. It is not something that the framers opposed and they provided clear reasons why they did not oppose this. I know those reasons, having read the Federalist papers. Rob knows them too. Why he is withholding the details is another story. For the effect? Who knows. Cough up the details Rob.

  • sayanything-1317

    This is bizarre on so many levels.

    Campaign finance reform was proposed by McCain and Feingold, was supported bipartisanly, and was signed into law by Bush. So not only did it happen, but it was on the backs of Republicans. Moreover, campaign finance “reform” has made it harder to unseat incumbants. Reform is the problem you’re claiming reform would solve.

    Whatever though. You and facts…kinda like oil and water. Just don’t mix.

  • sayanything-4808

    If those Dems truly meant what they like to say about the rich, then they’d pay their fair share and give that money to the Treasury IMMEDIATELY.

    They won’t of course.

    A $1M fixed annuity at current market performance pays out enough yearly for the average individual to live on quite nicely.

    Why aren’t they endowing people with those millions?

    Do they hate the less fortunate?

  • http://sayanythingblog.com robport

    Gee Rob, i wonder how many millionaires are running corporations????

    The difference between the private sector and government is choice. Government uses coercion. I do what the government says or I get fined. Or go to jail.

    Private sector millionaires get their money by offering goods and services other people want and/or need.

    I know you’re not really bright enough to grasp this difference, and that you’re so afraid of having to take care of yourself that you line up to support politicians who promise to take from others and give to you, but this nugget of information should be simple enough for even you to grasp.

  • sayanything-4808

    The usual selective thinking from the twit who thinks cops deserve to be shot.

    Did you think we’d forget about that?

    If the congress were right now controlled by Republicans and it was all Republicans who had authorized the endless bailouts, and this was posted, you’d be apoplectic about wealthy Republicans and how stingy conservatives are for not giving all of their money away to the government and you.

    You’re so far beyond hypocritical as to be self-caricaturizing.

  • sayanything-1317

    It’s not a requirement, but it’s certainly important. Seeing as they write rules that affect private sector business and all…

  • sayanything-81

    ROb
    You know why the congressmen are rich. You studied american politics didn’t you? your half-truths are disingenuous. explain it to us all and stop being such an ass. i know you know.

  • sayanything-81

    Powerful arguments here – esp from Kenny. Heh.

    Still Rob is not explaining why the framers wanted the rich in congress. Its a really naive assumption that frames the rationale. Perhaps that’s why Rob is withholding it, so as not to make the framers look bad. They have no burden to get it all right, especially across centuries and many tech revolutions. So ROb. Explain it to us.

  • sayanything-81

    united defense’s crusader? with govt funding for research, they came up with a $25M howitzer in 2002. the germans had already developed a $4.5M one with faster firing rates and similar ease of loading/fueling, et cet in 1995. rent-seekers. they then used the findings from that research for free to develop subsequent projects to hose us with. as soon as we announced the crusader was not being continued, after god knows how much money, UD got a new contract the very next day. a long term one. woo hoo. oh, and the thing was to big to be transported too. great for the proving grounds in NM, but not too good for much else.

  • sayanything-1317

    How many of those people earn their money instead of feeding at the public trough…

    Hmmm….

  • sayanything-81

    ”
    I love private sector millionaires. They, for the most part, are the innovators and inventors and entrepeneurs who drive our economy.

    I hate government millionaires, as most of them are power-hungry rent seekers looking to use their power to line their own pockets.
    ”
    IF, like many partisan scenarios, the options were that binary and clearly separated, you might have something. But its never that clear. You must feel conflicted about the rent-seeking defense industry, for example, given what you have said here.

  • http://sayanythingblog.com robport

    I don’t feel conflicted about it a bit. I think there is a lot of fraud and waste in the defense industry, as sad stories like Duke Cunningham’s fall from grace (and stories about $900 hammers) can attest to.

    I’m not sure why you would conflate my support for a strong national defense with condoning government waste.

    Except that you’re an idiot with a weak grasp on reality, and an even weaker one on history.

  • http://sayanythingblog.com robport

    I don’t think its deniable that some defense companies, usually working in concert with paid off politicians, have bilked the taxpayers.

  • http://sayanythingblog.com robport

    I am confused is there something wrong with having money?

    Nothing wrong with having money. There is something wrong with profiting through government though.

    I love private sector millionaires. They, for the most part, are the innovators and inventors and entrepeneurs who drive our economy.

    I hate government millionaires, as most of them are power-hungry rent seekers looking to use their power to line their own pockets.

  • sayanything-101

    How many of them have ever worked in the private sector?

  • sayanything-81

    hotel
    *United Defense*

  • http://sayanythingblog.com robport

    I wouldn’t expect someone who has never had a job to understand how business actually works, but CEO’s don’t rob anyone. At least not in well-run companies.

    Sadly, our government seems to be in the business of propping up the poorly-run companies where people are getting robbed at the expense of the well-run enterprises.

    But really, isn’t this a free country? What does it matter how a person makes their money, or how much money they make, as long as they’re not violating the rights of others?

    Oh yeah. The little commissars on the left care.

  • sayanything-4416

    So now you’re against wealth? Hmm. Odd.

    Kind of hard to run for office if you’re not rich. Your people made sure campaign finance reform would never pass.

    Another case of conservatives doing the wrong thing. Pretty standard stuff.

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