Are all congresscritters millionaires?

How possible is it that anyone that wants to run for higher office could be of "middle class" means?

Is there a site on the web that shows what our representatives are worth in $$?

Oh well, watcha gonna do.:shrug:

millionaire while his opponent the vaunted fake moderate Jim Leach is a multi-multi millionaire.

neat trick on a $160k or whatever they make a year (plus a boffo retirement package, plus the very best in health care FREE forever!)

They make $170,000/yr plus whatever they make from the jobs they left, and pay for nothing themselves.

Another of the great unasked questions, "how is it possible that so many elected officials get so damn lucky after they get into office"?

'My name is Eric Massa and I need your support'

The Iraq war turned him into a candidate. Running for Congress turned his family's finances upside down.

By Ryan D'Agostino, Money Magazine senior editor
October 25 2006: 10:40 AM EDT
http://money.cnn.com/magazines/moneymag/moneymag_archive/2006/11/01/8392432/index.htm?section=money_latest

"...If adrenaline were all that was required to win public office, Eric Massa couldn't lose. But Massa needs a lot more than energy.

A political neophyte challenging a Republican incumbent in a conservative-leaning district, Massa has to connect with voters who don't know him - and get them to open their wallets.

He'll require more than $1 million to stay competitive, and he and his wife Beverly can't exactly write the campaign a check. Not anymore. Massa took unpaid leave from his $125,000-a-year consulting job earlier this year to run full time, and he's already sold the investment property that was supposed to pay for his two teenagers' college education.

All told the Massas have put more than $90,000 of their money into the campaign, including $56,000 in loans.

"Any sane man would've walked away from this a long time ago," says Massa. "If you took what I'm doing as a business model and you presented it to a class at Harvard, they'd toss you out on the highway."


Eric Massa knows that our nation is on the line this Election Day, and he's holding nothing back.

Here is Eric's web site for anyone who doesn't really know much about him yet but would like to:
http://www.massaforcongress.com /

http://www.informationclearinghouse.info/article6418.htm

and

http://kasusa.squarespace.com/interest/2006/9/11/the-50-richest-members-of-congress-roll-call.html

here's the top 10 according to the second source above:

1. Sen. John Kerry (D-Mass.)

$750 million

Kerry's net worth may not be dropping, but his wife's rank on the Forbes list of the 400 richest Americans has.

The 2004 Democratic presidential nominee's wife, Teresa Heinz Kerry, no longer makes the long-running Forbes list. It took a minimum net worth of $900 million to qualify for that honor last year; Kerry was No. 391 on 2004's Forbes list with $750 million.

Roll Call is using the Forbes estimate because it incorporates assets not included on the Senator's disclosure form and more accurately takes into account his wife's vast portfolio.

The Senator's own 2006 disclosure form divulged a minimum net worth of nearly $167 million, a minor increase from earlier reports of $160 million.

Since lawmakers are required to report only a broad range on assets on the annual disclosure forum, this is an extremely vague account of Kerry's fortune. For instance, Kerry marked the "over $1,000,000" box 128 times on his disclosure report and thus avoided declaring an even more impressive bottom line.

In fact, if Roll Call's ranking had been based solely on disclosure forms, Kerry would have been listed as No. 2 behind Rep. Jane Harman (D-Calif.).

However, Kerry is not required to disclose his wife's income or detail her assets. Her late husband, former Sen. John Heinz (R-Pa.), was an heir to the Heinz ketchup fortune. When Heinz died in a 1991 plane crash, she inherited his assets.

During the past few years, the couple's worth has been estimated at anywhere from $600 million to $3.2 billion.

2. Sen. Herb Kohl (D-Wis.)

$243.15 million

As the Milwaukee Bucks basketball franchise continues to increase in value, so does the worth of the team's sole owner, Kohl. The franchise increased in value by 33 percent last year and is now worth at least $231 million, according to Forbes, bumping the Wisconsin Democrat to the No. 2 spot on this year's rankings.

Since the Senator does not list the entire value of the team on his annual disclosure report, Roll Call has added to that figure the rest of his reported assets and deducted his liabilities. Kohl's Congressional report disclosed a net worth of $12.15 million.

Kohl reported income from the Bucks' franchise last year at more than $68.7 million, before expenses. Kohl's liabilities exceed $105 million, which include an "over $50,000,000" personal promissory note from the Bucks, and three promissory notes for the franchise that exceed $55 million.

Last year, Kohl sold six properties through a personal trust that he controls, including residential and undeveloped lots in several states. The total value of the sales range from $382,000 to $880,000.

3. Sen. Jay Rockefeller (D-W.Va.)

$200 million

Even though Corzine is no longer included in the annual rankings, Rockefeller - a man whose name is virtually synonymous with wealth - wasn't able to move up from his No. 3 position.

There haven't been any recent public estimates about the wealth of the Rockefeller family, but in 2002, Forbes valued the family's fortune at $8.5 billion. They also reported that the Rockefeller "dynasty" includes more than 200 members.

In his financial disclosure this year, the Senator reported a net worth of $78.15 million; however, Roll Call is using the $200 million estimate from the 2002 Forbes list of America's richest politicians, which incorporates a more accurate estimate of his personal portfolio.

The Senator's uncle, David Rockefeller Sr., is ranked No. 93 on the 2005 Forbes 400 Richest Americans list at $2.5 billion. The Forbes rankings also included the Senator's cousin, former Arkansas Lt. Gov. Winthrop Paul Rockefeller (R), who died in June, at No. 283. With eight children and a widow, it is unlikely that the Senator will be a beneficiary of his cousin's estate, estimated at $1.2 billion by Forbes.

However, with relatives as wealthy as these, it is possible the Senator's wealth is significantly higher than disclosed on his report.

4. Rep. Jane Harman (D-Calif.)

$172 million

Harman moves up one spot this year from No. 5 on Roll Call's 2005 list. The veteran Democrat, who serves as ranking member on the House Intelligence Committee, has continued to see her net worth soar, increasing from $117.1 million in 2003, to $128 million in 2004, to $172 million now, although that dramatic rise also demonstrates the inherent weakness in the disclosure reports filed by lawmakers.

Harman's husband, Sidney Harman, is the founder of Harman International Industries, which has a current market value of $5.4 billion. The company, of which Sidney Harman owns 5.7 percent of stock worth more than $300 million at current market values, is an electronics manufacturer whose brands include AKG Acoustics, dbx, Harman Kardon and Infinity.

5. Rep. Darrell Issa (R-Calif.)

$140.86 million

With an increase in personal worth of almost $20 million, Issa moves up to No. 5 on the list of wealthiest lawmakers. Issa founded the company that makes the Viper automobile alarm system and other devices.

Issa, maintaining his status as the richest Republican serving in Congress, saw his holding in Greene Properties Inc. yield him an annual income of $1 million to $5 million. Issa's wife, Katherine, receives a salary from the firm.

Issa reported the same income range from his investment in DEI Professional Services LLC, which owns and manages five office and light industrial properties. Issa is a partner in that company.

The couple also holds $10 million to $50 million in both the AIM International Small Company Fund and Lord Abbett Mid Cap Value Fund.

6. Rep. Robin Hayes (R-N.C.)

$59.75 million

Even though Hayes' net worth dropped by $400,000 this year, the amiable North Carolina Republican climbed one spot on the Roll Call list.

The majority of the hosiery and textile heir's wealth, at least $31 million, is spread among three trust accounts. He earned more than $1.1 million from two of those accounts in 2005.

Hayes' only liability was a $1 million to $5 million commercial loan for an airplane, which he took out in 2004.

7. Rep. Charles Taylor (R-N.C.)

$56.1 million

Despite seeing his bottom line improve by a cool $800,000 last year, the makeup of Taylor's portfolio hasn't changed much in the past couple of years.

The majority of Taylor's wealth comes from his holdings in the Financial Guaranty Corp., where his wife works and where the Congressman serves as vice chairman. Taylor controls more than $50 million in the company's stock, according to his financial disclosure.

Financial Guaranty Corp., which has come under media scrutiny for its business dealings, issued loans in Russia during the 1990s with interest rates at times in excess of 50 percent, according to previous disclosure reports filed by the North Carolina Republican.

8. Sen. Dianne Feinstein (D-Calif.)

$42.6 million

Feinstein's portfolio, including assets she holds with her husband, financier Richard Blum, continues to show strong growth.

Her assets last year included "over $1,000,000" in Perini Corp. stock, CB Richard Ellis Group Inc. stock, Newbridge Asia II LP, Newbridge Genpar Advisors LP, Astar Cargo Holdings, KFB Newbridge GenPar LP, two Bank of America deposit accounts and a First Republic Bank deposit account.

Blum receives fees from Newbridge Capital LLC and CB Richard Ellis Group, according to Feinstein's disclosure forms.

In an 18-page letter accompanying her disclosure form, Feinstein lists her joint ownership with Blum in two condominiums and several property management companies. One of her chief assets is a 50 percent stake in the Carlton Hotel in San Francisco, which she values at $5 million to $25 million.

9. Sen. Lincoln Chafee (R-R.I.)

$39.92 million

Chafee, scion of a wealthy and politically prominent family, hasn't seen his portfolio change much since 2005, although his net worth increased by roughly $1 million, allowing the Senator to climb two spots in the 50 richest survey.

The Rhode Island Republican doesn't offer too many details about his personal assets on his disclosure forms, referring to 21 of his assets as worth more than $1,000,000 and more than 30 assets at $500,001 to $1,000,000.

The majority of Chafee's assets are held in a blind trust, which include bonds and securities. Chafee also reports trusts in each of this three children's names, and one titled "Grandchildren's Trust #2," although all of his children are still minors.

10. Sen. John McCain (R-Ariz.)

$29.21 million

The 2000 GOP presidential hopeful jumped 10 spots on our list this year, with McCain more than doubling his worth from last year's $12 million. The Arizona Republican's 2005 income included more than $1 million from Hensley & Co. stock, a beer distribution company to which is wife, Cindy, is the heir.

McCain included his wife and his dependent children's assets and income in his annual disclosure form, checking the "over $1,000,000" asset box 11 times in his report.

His liabilities total $2.52 million, including an "over $1,000,000" promissory note to Dream Catcher Family LLC, two promissory notes from JP Morgan Chase & Co. totalling more than $600,000 and $160,000 in credit card debt from six cards.

11. Rep. Rodney Frelinghuysen (R-N.J.)

$19.98 million

The New Jersey Republican, who is a sixth-generation Member of Congress, saw his net worth take a small dip from the previous year, falling by just more than $1 million.

Frelinghuysen sold off a significant portion of his securities portfolio last year, including more than $300,000 in Proctor & Gamble Co. stock.

Frelinghuysen and his wife still maintain a healthy portfolio, which includes more than $7 million in Proctor & Gamble Co. stock and $1 million in a money market fund.

They reported no debts.

12. Sen. Edward Kennedy (D-Mass.)

$19.19 million

The Senator from one of the most famous families in U.S. political history saw his net worth nearly double from 2004 to 2005, jumping him 13 spots up the annual Roll Call rankings.

Last year, Kennedy reported a net worth of $9.9 million, which included a $5 million to $10 million trust in his name, and four $1 million to $5 million trusts - two in his name and two in the names of his late older siblings, Joseph Kennedy Jr. and Kathleen Hartington.

This year, one of Kennedy's $1 million to $5 million trusts was elevated to the $5 million to $25 million range. Kennedy also assumed responsibility for a $5 million to $25 million trust held in the name of his mother, Rose Kennedy, who died in 1995.

Elton Gallegly, has been dipping from the public till since 1979 yet owns a 7,000 sq. ft. home in the district and an office building for which he paid over 2 million in 2001. Also owns a condo in Virginia worth over 900K. Wonder where the humble public servant gets the dough to afford all that?
Another corrupt bastard. Yet the idiots around here reelect him every time with a consistent 65% of the vote.

I don't think Barbara Mikulski is, either, though I could be wrong about that. I think there are a good few who may have a net worth of a million or so but who don't have the kind of cash to throw around of a Katherine Harries or a Mark Dayton.

I'm not sure how relevant net worth is, a case can be made either way. If we could publicly-fund national campaigns it would be completely irrelevant.

ambivalently,
Bright

and the reason I asked the question.

It would make possible the possible successful candidacy of "middle class folks" just like most of America...even though the middle class is shrinking.

We seriously need someone that has the knowledge of what it is to be just "folk."