There’s a belief that growing up, we all start off as fiscal liberals given we have little-to-no income and depend on others to support us. As we start supporting ourselves we turn more fiscally conservative, believing we know how to spend our money better than the government does. Finally, when we retire, or make so much money we donate our wealth sto have our names on buildings, we turn back to fiscal liberals. Do you believe this to be the case?
Below are the 10 + 1 wealthiest members of Congress, and my, what wealth they have!
1. Sen. Herb Kohl (D-Wisconsin) $300 million
2. Sen. John Kerry (D-Mass.): $188.6 million
3. Rep. Darrel Issa (R-Calif.): $160.1 million
4. Rep. Jane Harman (D-Calif.): $152.3 million
5. Sen. Jay Rockefeller ( D-W.Va.): $83.7 million
6. Rep. Michael McCaul (R-Texas): $73.8 million
7. Sen. Mark Warner (D-Va.); $70.2 million
8. Rep. Jared Polis (D-Colo.): $56.5 million
9. Rep. Vern Buchanan (R-Fla.): $53.5 million
10. Sen. Frank Lautenberg (D-N.J.): $49.7 million
* Sen. Diane Feinstein (D-Calif.): $46.1 million, but add on her husband, Richard Blum’s net worth and they are over $500 million for sure!
I’m quite apolitical because the government is inefficient and politicians from both sides are always self-absorbed, power-hungry and devious. Politics just provides comic relief and we should never rely on anybody, let alone our bankrupt government to take care of us. This is why from a personal finance perspective, we need to save, invest, and save some more.
What are some conclusions you can take away from this list, if any? Anything surprise you about the list?
Note: The approval ratings are even lower than in May , 2008. I just can’t find the chart.
Sam – “Slicing Through Money’s Mysteries”