Rank-and-file members of both the House and Senate are paid $174,000 a year.
That probably seems like a decent amount of money, and it is: The median household income in 2022 was $74,580, according to the US Census.
But consider that members of Congress generally have to maintain two residences — one in Washington, DC, and one in their home state — and that they haven’t gotten a raise since 2009.
Inflation, meanwhile, has eaten away at the value of that salary over time: If lawmakers’ salaries had kept pace with inflation, they would be paid over $250,000 today.
Rep. Patrick McHenry, a North Carolina Republican who served as the interim speaker of the House following Kevin McCarthy’s ouster, told The Dispatch that congressional pay needed to be raised in order to attract “credible people to run for office.”
Reality disagrees. While over half of Congress are millionaires, the highest credible number for the US population in general is 12%
In fact, the 100 highest earners in Congress more than doubled (https://ballotpedia.org/Personal_Gain_Index_(U.S._Congress) their personal wealth in a single year, with the top 10 “earners” increasing their wealth on average 422% in a single year!
Hey, everyone: he just said 12% of the United States population are millionaires. More than one out of every 10 people. Think about that.
Guess how net worth looks for the bottom 88%.
Wealth disparity in this country is insane.
First, that’s the absolute highest estimate of anyone halfway credible.
Second, that includes real estate holdings. If you own a house anywhere even halfway desirable but don’t have a penny to your name otherwise, you’re usually still a millionaire.
Absolutely 3rd world country atrocious. For some of the top 12% too, once you take their house out of the equation and only count the wealth they can spend without becoming homeless.
Definitely. Anyone who says otherwise is either an idiot, part of the problem, or both.
Isn’t a fair bit of that graft and/or insider trading?
Yeah. After all, bribes are legal in Washington as long as you don’t say out loud what they’re for. And insider trading is hardly contained, politicians who have no prior experience with stocks suddenly consistently outperforming the market.
There’s even a Nancy Pelosi stock tracker for you to profit (less than her since she doesn’t have to announce in real time) on the insider trading of her and her husband!
In Washington, the corruption is not just overlooked, it’s written into the rules and demanded by party leaders 🤬