I find this Reuters headline, "Get elected to Congress and get rich," fairly silly. Like many of the wealthiest Americans (the report doesn't factor in the recent economic slowdown), members of Congress have seen their net worth rise in recent years. But what the report doesn't note is that as campaign costs have ballooned, not surprisingly, the average net worth of those entering Congress in the first place has experienced a corresponding rise as well. While the Senate has always been a bastion for the well-heeled, of late, even the People's House has sprouted a growing crop of millionaires. Today, 58% of the Senate are millionaires, as are 44% of the House--a figure that's nearly doubled since just 2002.
Chris Hayes
I find this Reuters headline, “Get elected to Congress and get rich,” fairly silly. Like many of the wealthiest Americans (the report doesn’t factor in the recent economic slowdown), members of Congress have seen their net worth rise in recent years. But what the report doesn’t note is that as campaign costs have ballooned, not surprisingly, the average net worth of those entering Congress in the first place has experienced a corresponding rise as well. While the Senate has always been a bastion for the well-heeled, of late, even the People’s House has sprouted a growing crop of millionaires. Today, 58% of the Senate are millionaires, as are 44% of the House–a figure that’s nearly doubled since just 2002.
Chris HayesTwitterChris Hayes is the Editor-at-Large of The Nation and host of “All In with Chris Hayes” on MSNBC.