Mail Online News Excerpt:
Nearly half of Congress are millionaires - a status shared by only one per cent of Americans. According to a new study, at least 249 out of Congress’ 535 members are millionaires.
The analysis — released by the Center for Responsive Politics — is based on the average value of each lawmaker’s assets and liabilities, which members are required by law to report every year.
Granted, some members of Congress were born with a silver spoon in their mouth. Others were millionaires in their own right before they were elected. But in a recent op-ed column in The Wall Street Journal, Sarah Palin took exception to those elected officials who arrived under modest means and now find themselves to be in the 1 percent. That is a select group.
“How do politicians who arrive in Washington, D.C. as men and women of modest means leave as millionaires?” Palin asks in her column. “How do they miraculously accumulate wealth at a rate faster than the rest of us? How do politicians’ stock portfolios outperform even the best hedge fund managers?”
Palin’s answer: “Politicians derive power from the authority of their office and their access to our tax dollars, and they use that power to enrich and shield themselves.”
Who pray tell would fit that description? Why none other than our very own Paul Ryan.
No question, when Paul Ryan arrived in Washington, D.C., he was considered a young man of modest means from a solid middle-class family from Janesville, Wisconsin. His earlier story at the time was that his mom was worried he would be a lifetime beach bum. Until age 18, he collected Social Security survivor's benefits, which he put away for college. Later, he started out working as a restaurant waiter and with insider connections, moved up to office staffer for politicians such as Sen. Sam Brownback before being elected in 1998. In 2004, Ryan pointed out that since entering Congress he has had no ties to a cousin's firm, Ryan Central Inc., a construction and earth-moving company headquartered in Janesville.
Yet according to the latest report on wealth in Congress from the Center For Responsive Politics, Paul Ryan is listed in the millionaires club with an average net worth of $2,068,050.
So how did Paul Ryan become a millionaire while collecting a government paycheck?
Well, at least Sarah Palin knows.
Center For Responsive Politics - Members of Congress Enjoy Robust Financial Status, Despite Nation's Sluggish Economic Recovery
Download the full list of disclosed wealth on all current members of Congress here.