0T: Why Is Congress A Millionaire"s Club ???

[Slinky]

Congress is a club that consists of 245 millionaires. Based on 2009 data, there are currently 66 in the Senate and 179 in the House (among current voting members). So while just 1 percent of Americans are millionaires, 66 percent of senators are millionaires, as are 41 percent of House members. ...

http://www.cbsnews.com/8301-503544_162- ... 03544.html

And WE are paying 75% of THEIR health insurance premiums!!

[Lizistired]

And they get to decide if their taxes get raised.

[M.D.Hosehead]

...a rhetorical question if ever there was.

I can think of a few possibilities, not mutuallly exclusive.

1. They were successful businessmen/investors before they were elected.
2. They inherited or married wealth.
3. There's something about being a congressperson that attracts money. (I wonder what that might be?)

[ameriken]

I think a better question is why do we choose to put millionaires into Congress rather than the average American?

[Slinky]

At least some of the reasons are discussed and included in the article.

I believe, but could very easily be wrong, that the majority of our national legislators are attorneys. Or at least that that is the leading profession amongst our legislators.

[VA3AEQ]

While I am not an American, I would venture to guess that a millionaire would have the best ability to fund or fundraise enough $$$$$$ to actually win an election.

For a regular person, the amount of $$$$$ money required to win a campaign would be entirely out of reach.

[kempo]

It doesn't bother me that there are so many millionaires in congress but I understand they can receive their full salary after just one term in office if they choose to not run again plus free health insurance. That bothers me! What other job will give your that?

Plus they opted out of Obama Care. It's good enough for us but not them.

[idamtnboy]

It doesn't bother me that there are so many millionaires in congress but I understand they can receive their full salary after just one term in office if they choose to not run again plus free health insurance. That bothers me! What other job will give your that?

Plus they opted out of Obama Care. It's good enough for us but not them.

Members of Congress get the same retirement plan and health insurance plan that all Federal employees receive. A one or two term Congressman gets no Federal retirment as the minimum required service time is 5 years. The health insurance program is very good, but nowhere near free and continues into retirement only if the person retires with a Federal annuity. All Feds, including Congressmen, who started service after Jan 1, 1984 pay into Social Security.

[PST]

It doesn't bother me that there are so many millionaires in congress but I understand they can receive their full salary after just one term in office if they choose to not run again plus free health insurance. That bothers me! What other job will give your that?

Plus they opted out of Obama Care. It's good enough for us but not them.

Members of Congress get the same retirement plan and health insurance plan that all Federal employees receive. A one or two term Congressman gets no Federal retirment as the minimum required service time is 5 years. The health insurance program is very good, but nowhere near free and continues into retirement only if the person retires with a Federal annuity. All Feds, including Congressmen, who started service after Jan 1, 1984 pay into Social Security.

For some reason the story that Congress "opted out" of the PPACA continues to circulate, even though it was never true, and even though the act specifically limits Congress to coverage created by the PPACA as of January 1, 2014, the day the main provisions go into effect.

The reason this GOP talking point was always inaccurate is that the insurance exchanges established by the act will not be open to individuals who get decent health insurance from an employer. That is because one goal of the legislation was preserving the current system of employer-based group coverage for those who have it. Those who have such coverage, provided it meets minimum standards, will not be eligible to purchase individual coverage through the insurance exchanges established by the act. Members of Congress, like all other civilian federal employees, have such coverage under the Federal Employees Health Benefits Program. Early versions of the PPACA treated them like other employees with coverage, making them ineligible for the same reason that I am ineligible: my employer provides coverage. It wasn't that they opted out, but rather that by the same standards that apply to everyone else they weren't allowed in. However, in response to the bogus charge that Congress had opted out, the act was amended. Under section 1312 in its final form: "... the only health plans that the Federal Government may make available to Members of Congress and congressional staff with respect to their service as a Member of Congress or congressional staff shall be health plans that are (I) created under this Act (or an amendment made by this Act); or (II) offered through an Exchange established under this Act (or an amendment made by this Act)."

[SRSDDS]

I think what would be more interesting is to compare a freshman's class net worth with their net worth after a couple of terms. I don't know for sure, but I would bet that it would show an increase in net worth that could not be duplicated in the private sector. For instance, Pelosi, during her time as <choke, it's hard to say> Speaker of the House (4 years), increased her net worth by about $21 million. And I am sure this cuts across party lines. When you have the power to direct trillions in spending, the great personal deals that come across your desk must be pretty good slam dunk money makers.
The solution is to MAKE GOVERNMENT SMALLER so they don't have their dirty mitts on trillions.

Stephen

[Vader]

For instance, Pelosi, during her time as <choke, it's hard to say> Speaker of the House (4 years)......>snip<

solution is to MAKE GOVERNMENT SMALLER so they don't have their dirty mitts on trillions.
Stephen

Amen, brother!

[jimnsc]

Legislators are carefully identified by the super rich and are elected through their contributions. They are educated, successful looking and are well spoken. Their sole purpose in the legislative process is to ensure the rich get richer and taxes are not raised that would affect their holdings. In the process they are rewarded by the super rich and also you and me.

What one thing are the Republicans clinging to right now as they begin their compromise on raising the debt ceiling? Raising taxes that would take from the rich and distribute to the have nots. Show me a politician who is not crooked and I'll show you one who is new on the job.

[LinkC]

Because millionaires already have much of the funding to run a successful campaign.

Slinky--Contributions toward Health Insurance are part of their compensation package. If you wanna say "we" pay for it, you might as well say 100%, because what they "pay" is deducted from their salary (which comes from taxpayers).

[So Well]

Los Angeles Times

July 12, 2011 | By Brian Bennett, Washington Bureau

Administration officials today reported that a provision has been found in Obamacare that would pay all medical costs for implants of explosive devices.

Al Qaeda operatives in Yemen recently discussed surgically implanting an explosive device under the skin of a suicide bomber to get past airport detectors and blow up a U.S. passenger plane. The operatives had tabled the idea because of the expense of the surgery.

However, sources say they will now go ahead with their plan since the surgery will be paid by Obamacare beginning in 2014.

Democratic Leader Nancy Pelosi of CA commented, “I told you we have to pass the bill to find out what is in it.”

President Obama tweeted, “This is a catastrophic failure of leadership by the previous administration. My administration will bring more change to correct their failure. BRB”

The controversial clause in Obamacare can be found on page 2477, section 194, subpart II-C.

http://articles.latimes.com/2011/jul/12 ... s-20110712

[LinkC]

I love it, So Well!!!

Sadly, not far from the truth... sigh