The New Millionaires Club

A new study by the Center for Responsive Politics finds that the median estimated net worth of the incoming freshmen of the 113th Congress is almost exactly $1 million more than that of the typical American household:

“While America continues to claw its way back to economic stability, voters have nevertheless chosen to elect new members of Congress who have already made it big,” noted Sheila Krumholz, executive director of the Center. “Apparently, on the whole, we don’t want people who look like us, financially speaking. What’s harder to measure is whether these new legislators appreciate the financial pain people face and can effectively represent them despite the fact that they themselves are well off.”

Jim Morrill at the Charlotte Observer follows up on the Center’s research with a closer look at North Carolina’s congressional delegation.

Three of the freshmen congressmen elected in November – Republicans Robert Pittenger of the 9th District, Mark Meadows of the 11th and George Holding of the 13th – have the distinction of being the wealthiest in the state’s House delegation.

Read Morrill’s full story here  for a better explanation of the numbers, and be sure to check out the graphic that goes with the Charlotte Observer’s story:
What they're worth

2 Comments

  1. wncgirl

    January 18, 2013 at 2:23 pm

    Meadows played the “good ol boy” card and moronic natives and move in malcontents got em elected. And this mtn. boy is actually from Florida and lives in a big ol gated ctry. club. LOL!!! Get used to seeing higher access fees and more gates in our mtns… way to go GOP

  2. Frank Burns

    January 21, 2013 at 11:07 am

    I never realized that Kay Hagan was a multi millionaire. I wonder if she was an ambulance chaser like John Edwards. Like the other Senate Democracts, there is no inclination on her part to prepare a federal budget and she is hereby indicted as not doing her job.