Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
July 30, 2014

Most Members of Congress are Millionaires

As the Congress looks at the issues of poverty and income inequality, a new study shows most members of Congress are millionaires.

“Of 534 current members of Congress, at least 268 had an average net worth of $1 million or more in 2012, according to disclosures filed last year by all members of Congress and candidates. The median net worth for the 520 current lawmakers who were in Congress as of the May filing deadline was $1,008,767 – an increase from the previous year when it was $966,000.”

“Despite the fact that polls show how dissatisfied Americans are with Congress overall, there’s been no change in our appetite to elect affluent politicians to represent our concerns in Washington,” stated Sheila Krumholz, executive director of the Center for Responsive Politics, which published the study.

The number of millionaires in Congress can often be understated since the disclosure requirements for the personal wealth of members of Congress do not require the listing of personal residences, often the largest asset of a family.

Political MoneyLine’s financial profile of each member of Congress includes the personal financial report as well as a notation of the assessed tax value of their residence in the metropolitan D.C. area.

View Roll Call’s 50 Richest Members of Congress.

To search detailed money-in-politics databases, visit Political MoneyLine.

  • davidhill

    Although they are not aware most probably, inequality is the starting blocks of revolutions internal conflict and civil war acceding to history. For according to the ‘Global Wealth Report 2013’ released late last year by Credit Suisse (http://gawker.com/the-bottom-50-of-people-on-earth-have-only-1-of-the-w-1446407249 ) and where a mere 0.7% of the world’s adult population controlled 41% of the world’s total wealth and the top 10% owned 86% of all global wealth. In stark contrast 50% of the world’s adult population only owned 1% of the world’s wealth. Indeed added to these disturbing and morally wrong statistics the recent report by Oxfam, ‘The cost of inequality: how wealth and income extremes hurt us all’ (http://www.oxfam.org/sites/www.oxfam.org/files/cost-of-inequality-oxfam-mb180113.pdf ), also states that the wealth made by the world’s richest 100 adults last year (US$240 Billion) could have ended poverty four-times over.

    To read more visit – http://worldinnovationfoundation.blogspot.co.uk/2014/01/global-poverty-and-inequality-are.html

    Unfortunately these things as I have previously stated, are the genesis of revolutions and the people taking control of their nations again according to history. It should therefore be a warning to our political classes that things have to change and quickly in terms of inequality and basic poverty

    Dr David Hill
    World Innovation Foundation

  • Mountain Vista

    Except in rare instances, such as military bravery in defense of liberty, merit is incompatible with liberty because merit requires that each of us be subjectively judged by those who hold coercive power over us.

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