I’m thinking that members of Congress are the poster children for the 1%. They are doing quite well in this economy – must be all of that insider information.
The wealth gap between those governing the U.S. and the people they represent has dramatically widened, research shows.
Against a backdrop of a vast budget deficit and fears of the fragility of the economy, analysis by the Washington Post shows that the median net worth of a member of Congress has nearly tripled over 25 years while the income of an average U.S. family has actually fallen.
It calculated that their median net worth, between 1984 and 2009 and excluding home equity, rose from $280,000 to $725,000. (Read More)
Talk about income inequality.
Speaking of wealthy congresscritters, Nancy Pelosi is again vacationing at a $10k per night Hawaiian resort.