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Who Are The Richest Members Of Congress?

Who Are The Richest Members Of Congress?

 

Often, Congress gets criticized for the fact that they vote for their own pay increases.† But what about the fact that they vote on their own tax rates?

Roll Call has released a list of the 50 Richest Members of Congress, all of whom have assets valuing more than $6 million.† Each year Congress has more and more millionaires, and each year they vote on whether or not the rich should continue to get tax cuts.

Starts to seem sort of like a conflict of interest, doesn’t it?

The two richest members of Congress, Republican Representatives Michael McCall and Darrell Issa, are worth over $500 million together.† Add in number three, Democratic Senator John Kerry, and we’ve topped $700 million.† Those three are the only members to have assets of more than $100 million, but 28 additional congressmen and women have at least $10 million each to their name.† Nineteen of the fifty richest are Democrats, although only four of the top twelve are Republicans.† Republicans then dominate the list of those who are worth between $35 and $6 million.

Click here for the full list of rankings, and see if your representatives are voting for, or against, their own tax increases.

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188 comments

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12:57AM PDT on Aug 30, 2011

Another small business owner (like myself) mentioned that with high taxes business owners reinvest in our companies and hire more people to reduce taxes. For capitalists it is easy to decide when to pay themselves instead of investing.

You can see the dead simple relationship between taxes and a burgeoning middle class in that simple relationship. When I do taxes I produce all the receipts for my costs, leaving as small as possible, the amount as income and keeping my wealth in non-liquid estates.

11:56PM PDT on Aug 29, 2011

If you do a graph of those taxes,

http://www.progressinaction.com/republicans/wealth-redistribution-wealthy-americans-are-taxed-less-now-than-when-reagan-was-president/

against our national debt pattern;

http://zfacts.com/p/1195.html

The reciprocal effect is pretty visible

11:53PM PDT on Aug 29, 2011

Mind you,

That is only the top marginal income tax rate. Income Tax is our only progressive tax, falling less on "earned income" that on any other. All other American taxes are regressive, meaning that under our current state of low taxes for the rich *Plus* deep tax breaks there are literally homeless people who pay more taxes than some of the wealthy who have to accountants to game the system

11:45PM PDT on Aug 29, 2011

Ahh, You've been swallowing the libertarian/tea party koolaid

FDR came in on a "peace" and a "fix what the GOP screwed up" with the depression plank. The first thing he set about doing was raising the taxes on himself and his fellow rich citizenry. By the end of the pre-war period it was up to 79%, falling most heavily on them, dragging us most of the way out of the Depression and during the war it actually went up to 94%. Suits me and the rich still profited, since many of them were war profiteers in one way or another. We've kept the wars but not the taxes which seems wrong somehow.

8:51PM PDT on Aug 28, 2011

Once crooks, always crooks!

1:09PM PDT on Aug 26, 2011

@Pego R,
ROFLMAO - PLEASE do a little research and tell us all about the 90% tax rate we have a track record and history on. Also, tell us who was responsible for the 90% tax rates, and just how it didn't effect our national growth.

1:02PM PDT on Aug 26, 2011

@Chistopher C, - Continued -
Even when millions of people were dropped from having to pay any taxes at all, the Leftists bitched and bellyached about the wealthy getting a tax cut too. It's pretty sad when something (like the tax cuts for everyone) is given to people, they show just how much they appreciate what was done for them by bad mouthing others.

If you think you need more tax revenues for the government, try getting some of the deductions and loopholes closed that everyone uses to lower their tax burden. ALSO, ... the thing that would benefit our country the most is to make the government PAY DOWN OUR NATIONAL DEBT. Our country pays about $445 Billion in INTEREST each year because of the national debt our congress and presidents have so willfully placed on our shoulders. Paying that national debt off would allow the government to use that $445 Billion for much better use supporting OUR OWN government instead of China's, and other countries who we owe money to.

1:01PM PDT on Aug 26, 2011

@Chistopher C, - Continued -
When YOU or the others who are sucking off the governments teat pay taxes at the same rate, ... THEN, you can complain about the rich not paying their fair share. Most of the rich pay more taxes in ONE year than YOU or the other complainers will pay in your lifetime, so DON'T bitch that they're not paying their fair share.

I'm NOT a rich person, but when I see or hear a bunch of ungrateful people who feel they deserve to have part of someone else's money, and they consistently badmouth the fact that some people are fortunate enough to have made something of themselves, I'll be damned if I would stay silent about it.

Out tax system was written for ALL people to pay their fair share of taxes. Everyone had to pay taxes. The government has changed and bastardized the tax code to where about 48% of all wage earners pay NOTHING in Income TAX. Now days, people who have been removed from having to pay any taxes at all ( with many of them getting large tax refunds they don't deserve) have the balls to bitch and complain about someone who actually pays taxes is not paying enough. How about we make you ingrates have to start paying taxes again?

When the Bush Tax Cuts went into effect, the taxes rates were cut for EVERY tax payer in the country, yet, YOU bitched about the tax cuts because the wealthy also received a tax cut. Even when millions of people were dropped from having to pay any taxes at all, the Leftists bitched and bellyached abo

12:59PM PDT on Aug 26, 2011

@Chistopher C,

Warren Buffet is just talk IF he doesn't lead by example. The only reason he's saying he should pay more taxes is because he knows his vast fortune will be protected from any tax increases that come along. Why wasn't he preaching the need for him to pay more taxes when he first started amassing his huge fortune?

There's NO WAY Buffett's secretary is paying 44% of her/his wages in federal income taxes. The highest Income Tax rate is 35%. Assuming Buffett paid his secretary enough money to for her/him to be taxed at the 35% rate, The secretary is going to have numerous deductions (just like you, I, and Buffett use) to lower their Taxable Wages. If Buffett is including the Social Security and Medicare payments taken from the secretaries wages as part of the 44% in taxes, he would be wrong. SS and MC payments are not taxes. They are being collected as SS and MC INSURANCE payments, that will be paid back when the secretary retires, or becomes disabled. Buffett needs to walk the talk to be taken serious.

If you say it's not about the entitlements. What a bunch of hooey. If it weren't FOR the need to pay entitlements, the current tax rates could be cut in half without any problem. It's just your jealousy of other people's riches that make you spout off with that kind of crap. When YOU or the others who are sucking off the governments teat pay taxes at the same rate, ... THEN, you can complain about the rich not paying their fair share. Most of th

11:04PM PDT on Aug 25, 2011

Don

We have a history and track record of taxes up to 90% on them that did NOT hurt our national growth at all.

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