“The rest of us are actually poorer. NYT reports that the median net worth of a member of Congress climbed 15 percent from 2004 to 2010, to $913,000; meanwhile, the median net worth for all Americans dropped 8 percent over that same period, to roughly $100,000. The lawmakers’ gains are even more noteworthy because over that same period the net worth of the richest 10 percent of Americans remained essentially flat, based on inflation-adjusted figures, says Slate. More regulations and more Wahington D.C.-based power centers result in many more wanting to influence congressmen, legally or illegally.”
http://www.economicpolicyjournal.com/2012/12/congressmen-are-twice-as-rich-now-as.html
Related posts:
Investing In China's New Silk Road
Texas: Red Light Camera Firm Sues to Block Public Vote
FAA Proposes Worldwide Laptop Ban For Checked Bags On Int'l Flights
Peter Schiff: Investing Wisely While Banking on a Crash
Another 1.8 Million People Just Ditched Cable TV
Private paramilitaries guard Wisconsin mining site from protesters
Bitmine.ch - How's a bitcoin miner made - Episode #1
Texas Generally Exempts Bitcoin From Money Transmission Laws
Did Romney disqualify himself by accepting foreign cash?
Wall Street Doesn't Understand Bitcoin Yet, But It Will
Homeland Security Purchases 200 Million More Rounds of Ammunition
23 Reasons to Be Bullish on Gold
The Most Complete Criminal Organization In Human History
Google, Yahoo back doors to US intel agencies: Ex-security official
There Are Now At Least 14 Digital Currencies Worth More Than $1