Monday, November 22, 2010

44% of Congress Are Millionaires

1st NW Quadrant: The Approval Matrix

From CBSNEWS Posted by Brian Montopoli

According to a report released this week by the Center for Responsive Politics, there are 237 millionaires serving in Congress, according to 2008 figures.

While about one percent of Americans are millionaires, 44 percent of those serving in Congress can claim as much.

The richest member of Congress is Republican California Rep. Darrell Issa, whose net worth is estimated to be in excess of $250 million. He's followed by four Democrats: California's Jane Harman (approx. $245 million), Wisconsin's Herb Kohl (approx. $215 million), Virginia's Mark Warner (approx. $210 million) and Massachusetts' John Kerry (approx. $209 million).

Among the top 25 wealthiest legislators – which includes boldface names Nancy Pelosi, Dianne Feinstein and Olympia Snowe – there are 14 Democrats and 11 Republicans, suggesting no clear wealth divisions between party. In the executive branch, Secretary of State Hillary Clinton is the second wealthiest, with a net worth of about $21 million; she trails only Securities and Exchange Commission Chairman Mary L. Schapiro. The least wealthy administration figure is Vice President Joe Biden, whose net worth is estimated at just $27,012. (President Obama comes in at $3,670,505.)

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