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Count the millionaires in Congress

Sagittarius83

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Oh, I see, she was too generous in the relief package.
She also put people out of work and devastated small businesses due to prolonged shutdowns.

Covid didn’t put people out of work. The overreaching and overreacting government reactions to it did.

I can’t give too much credit to someone offering relief to a problem they created.
 
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Lafayette

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Who cares if they are millionaires ??? Something wrong with making money ???

I don't care if anyone is a millionaire, I am writing about "Income Fairness" - a subject that is likely beyond your conception?

Try me and see. Tell me why I should love millionaires because the do sooooo-much for the economy!

Go ahead - just try ...
 

Lafayette

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She also put people out of work and devastated small businesses due to prolonged shutdowns.

Covid didn’t put people out of work. The overreaching and overreacting government reactions to it did.

I can’t give too much credit to someone offering relief to a problem they created.

"She"? Oh, really? When the economic-shat hits the fan ya-gotta-blame someone? Anyone?

Go take a course in economics! It is evident you don't know how economies function and, more importantly, how they dysfunction.

If you must absolutely blame someone - then look in the mirror! Because you are just one of millions in the midst of an economic downturn so either:
*You reduce your expenditures, which means general Demand diminishes, and
*If it diminishes too far, the companies are forced into lay-offs!
*So - ya gotta blame someone!
*Well, it's because you are one of many who reduced their consumption during Covid and thus prompted the economic downturn!

BFD, huh? That's life in a market-economy! Always has been, and always will be ...

PS: And, yes, you are also dead-wrong about Covid. I don't know what planet you live on but on this-one it has singularly reduced employment considerably everywhere - and we are just beginning to recover!
 

RetiredUSN

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"She"? Oh, really? When the economic-shat hits the fan ya-gotta-blame someone? Anyone?

Go take a course in economics! It is evident you don't know how economies function and, more importantly, how they dysfunction.

If you must absolutely blame someone - then look in the mirror! Because you are just one of millions in the midst of an economic downturn so either:
*You reduce your expenditures, which means general Demand diminishes, and
*If it diminishes too far, the companies are forced into lay-offs!
*So - ya gotta blame someone!
*Well, it's because you are one of many who reduced their consumption during Covid and thus prompted the economic downturn!

BFD, huh? That's life in a market-economy! Always has been, and always will be ...

PS: And, yes, you are also dead-wrong about Covid. I don't know what planet you live on but on this-one it has singularly reduced employment considerably everywhere - and we are just beginning to recover!

That's the problem with you.

You believe that all people should live equally regardless of their efforts, or lack of.
 

Lafayette

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From here: Economic Demographics of Democrats

Income

An individual’s likelihood of being a Democrat decreases with every additional dollar he or she earns. Democrats have a huge advantage (63 percent) with voters earning less than $15,000 per year. This advantage carries forward for individuals earning up to $50,000 per year, and then turns in the Republicans’ favor — with just 36 percent of individuals earning more than $200,000 per year supporting Democrats.

Interestingly, the median household income in the United States is $49,777 — right near the point where the Democratic advantage disappears and the Republicans take over.

About half of Democrats express satisfaction with their personal financial situation, compared with 61 percent of Republicans and 52 percent of Independents.

Ultra-Wealthy

While Democrats lose support as income increases, there seems to be a tipping point where the ultra-wealthy begin leaning Democratic. The most famous example would be the entertainment industry, where star-studded events have become a significant part of Democratic culture.

But this phenomenon is not limited to Hollywood. A review of the 20 richest Americans, as listed by Forbes Magazine, found that 60 percent affiliate with the Democratic Party, including the top three individuals: Bill Gates, Warren Buffett and Larry Ellison. Among the riches families, the Democratic advantage rises even higher, to 75 percent.
 

Lafayette

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STOP THE WORLD, I WANNA GET OFF

a net worth of a million for people who have the education to be congress critters is really not all that shocking. what is shocking is how much some ex-politicians make due to their connections

Well, it's shocking to me that the Congress political-representatives of a supposedly Left-wing party should be millionaires.

One, two or three - OK. But half the Dem representatives to Congress are millionaires.

How do millionaires represent a party the average-income of which is around $47K? At any event, with a smile and Martinis for everybody? And they get "paid" to do their job!

OUR TAXES ARE PAYING DEMOCRAT MILLIONAIRES TO REPRESENT US IN LALA-LAND ON THE POTOMAC ...
 

Lafayette

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a net worth of a million for people who have the education to be congress critters is really not all that shocking. what is shocking is how much some ex-politicians make due to their connections

Not for you evidently - but for many of us it's incomprehensible and therefore unacceptable.

Look if I have voted Dem all my life it was NOT because the party was represented in Congress by millionaires!

No way, José ... !
 

Lafayette

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I know the term "millionaire" sounds like a big deal as historically it has been. "Millionaire" would be a label that a very high percentage of reasonably successful people in the 50's and 60s would wear. It really isn't that much money in 2020 America.

In the context used in the OP, "millionaire" is portrayed "out of touch" with the America people. The reality is, unless we are talking multi-millionaires, he is very much in with the affluent middle class.

Wanna know why? Because they are ALL OVER THE TV! Mostly partying!

But, do you ever see anybody on TV from below the Poverty Threshold, which is $25K/year for a family of four!

Nope! No way, José ... !
 

Aunt Antifa

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That's the problem with you.

You believe that all people should live equally regardless of their efforts, or lack of.

Equally in terms of dignity and basic care? Oh hell yes. No one should get sick or die because they can’t afford it. That’s not what a healthy society does.
 

eohrnberger

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Been saying this for years. Millionaires like Pelosi do not represent "the people" what so ever. We would be better off hiring homeless people. Congress does not represent "the people" it represents lazy money.
'Public Service' just isn't what it used to be. Seems to have turned into 'Service to Self'.
 

Lafayette

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VIVE LA FRANCE!

Equally in terms of dignity and basic care? Oh hell yes. No one should get sick or die because they can’t afford it. That’s not what a healthy society does.
Indeed not, and yes America needs badly a National Healthcare System where taxation pays for this very costly service. And why is it Very Costly? Because ALL post-secondary education is extremely expensive in the US.

From here:

Tuition fees​

Tuition fees in France are relatively low compared with the rest of Europe. Most higher education institutions in France are funded by the state, therefore there is usually a nominal fee depending on the level of study.

The average public university in France in 2017 charged €189 (£167) per year for a bachelor’s degree, €259 (£230) for a master’s degree, €393 (£348) for a PhD and €611 (£541) to attend an engineering school.

Universities in France are known to levy administration charges, which causes some elevation in the price – however, the figure is far lower than in other countries such as the UK.

To study at one of France’s highly selective private grandes écoles or grands établissments, you could pay between €500-€600 (£443-£532) per year, however some charge up to €10,000 (£8,864) per year. Some only offer postgraduate degrees, such as Ecole Normal Supérieure in Paris, which expects students to attend two years of preparatory school or to transfer across after two or more years of undergraduate study. It costs €750 (£665) per year and charges international students the same as domestic students – like most French universities.

A private institution that teaches engineering, management or business can cost up to €30,000 (£26,592) per year.

I've not seen a cheaper cost here in Europe. And, if you want a MBA it will also cost you an arm-and-a-leg in the "international schools" that abound in France. (There is no "business school" in France that is inexpensive.)

The above indication of a 750€ fee per year for a degree in a French university that is recognized elsewhere in the world is exceptionally inexpensive ... !
 

Gaius46

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From thebalance: US Military Budget, Its Components, Challenges, and Growth

Excerpt:




And who votes the budget created by the PotUS every year? Both parts of Congress, the HofR and Senate.

And what percentage of those two entities are millionaires?

From Wikipedia (here):


No further comment is necessary ...
At least 10% of households in the US have a net worth of 1 million NOT counting their primary residence. When you add that the number doubles at least. The US has far and away the most millionaires of any country.
 

KevinKohler

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Lafayette, if you REALLY want to drive your point home a bit, do a bit more research. On the families of our congress critters. Congress critters today come from affluent families, a couple few of them from old money, and they have been groomed for that job their entire lives.
 

Lafayette

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Lafayette, if you REALLY want to drive your point home a bit, do a bit more research. On the families of our congress critters. Congress critters today come from affluent families, a couple few of them from old money, and they have been groomed for that job their entire lives.

Before I did the "research" I'll bet you did not even know that such a contingent of millionaires existed!

You seem to think that because they were fairly elected then everything is hunkey-dory? Wrong!

That is far too much presence in the highest political-office in the land - and they are millionaires! They may be representatives from their respective states - but they are NOT typical of the majority of citizens in those states.

And who runs the Democrat Party in America? More than likely, THEY DO!

No, no, no - too much BigMoney at the top - and that is not where mainstream-Democrats are financially located.

But, it's the party that has to "fix" that particular mismatch - we need no more than 10/15% of millionaires representing the Democrat Party. All the rest should be of low- to middle-class incomes - which is where most of the votes come from ....
 

Tahuyaman

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From thebalance: US Military Budget, Its Components, Challenges, and Growth

Excerpt:




And who votes the budget created by the PotUS every year? Both parts of Congress, the HofR and Senate.

And what percentage of those two entities are millionaires?

From Wikipedia (here):


No further comment is necessary ...
The president does not create the budget. He submits a request to the congress. The congress creates and votes on a budget. If the president is of the opposite party as the majority in the congress, his requests are ignored.
 

KevinKohler

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Before I did the "research" I'll bet you did not even know that such a contingent of millionaires existed!

You seem to think that because they were fairly elected then everything is hunkey-dory? Wrong!

That is far too much presence in the highest political-office in the land - and they are millionaires! They may be representatives from their respective states - but they are NOT typical of the majority of citizens in those states.

And who runs the Democrat Party in America? More than likely, THEY DO!

No, no, no - too much BigMoney at the top - and that is not where mainstream-Democrats are financially located.

But, it's the party that has to "fix" that particular mismatch - we need no more than 10/15% of millionaires representing the Democrat Party. All the rest should be of low- to middle-class incomes - which is where most of the votes come from ....
I support your argument. I'm trying to help you.


You'll notice some prominent names on that list, just at a glance. Rockefeller, Kennedy, etc.

People have never had to work a day in their entire lives.
 

Lafayette

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I support your argument. I'm trying to help you.

Yes, and thank you. But disagreement on an opinion is necessary to further the exchange and thus make it more clear. (Often, but not always admittedly.)

Better yet, this exchange-of-opinion is far, far better than the blah-blah-blah we see from politicians in either state-assemblies or LaLaLand on the Potomac (Congress).

I'm all for disallowing individual campaigns and a defined sequence of televised debates amongst the competing politicians before an election. It's one helluva lot cheaper than politicians hopscotching around the country and behaving as if they were Hollywood actors.

To my mind, clear televised debate is the best way for we-the-sheeple to understand better who we should be electing and particularly on the national political scale? And whyzat?

Because the smart-candidates will want to take soundings of voter political-sentiment before a televised debate. And I find that is an important element in the formation of their own election perspectives.

Meaning how they feel regarding different points that may be of considerable importance to the voting public ...
 

Lafayette

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The president does not create the budget. He submits a request to the congress. The congress creates and votes on a budget. If the president is of the opposite party as the majority in the congress, his requests are ignored.

Thank you for a perfect view of current democratic political stagnation and particularly as regards the key-question of upper-income taxation.

Which you probably think irrelevant given the fact that half of the HofR representatives are millionaires ...
 

skeptic llc

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Being a millionaire isn't what it used to be. For example, the average home price in the city closest to me (Boston) is $675k. Between home equity and retirement savings, reaching a $1m in net worth is no longer uncommon, especially for older workers.
Yeah, I think "millionaires" has stopped meaning very much. I mean, I guess it means you have some financial stability. And it MIGHT mean you are doing pretty well, if you live in an economically undeveloped state (e.g., the south, midwest, Wyoming, etc.). But in states that have modern economies, it does not really signify being upper class anymore.
 

Lafayette

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Thank you for a perfect view of current democratic political stagnation and particularly as regards the key-question of upper-income taxation. Which you probably think irrelevant given the fact that half of the HofR representatives are millionaires ...

From here - "About 6.7% (or 8,386,508 out of 125,018,808 total U.S. households) can now claim millionaire status. That's up from 6.2% in 2018 and just 5.8% in 2017."
 

Lafayette

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BIRDS OF A FEATHER ...

Yeah, I think "millionaires" has stopped meaning very much. I mean, I guess it means you have some financial stability. And it MIGHT mean you are doing pretty well, if you live in an economically undeveloped state (e.g., the south, midwest, Wyoming, etc.). But in states that have modern economies, it does not really signify being upper class anymore.

I beg to differ (as regards the HofR) - given that that America's richest-class is ONLY around 7% of the population. (By no stretch of their imagination can one consider that fact "ordinary".)

Any government elected function (city, state or national) should demonstrate the "will of the people" who elected them. I suggest further that because Americans are branched so fully to the Boob-Tube, that the TV plays a central role in the election of any candidate for public-office.

And for that reason, it needs a set of guiding rules that it does not have today - we "sell" political candidates like we market cars - by employing superlatives.

The one superlative that they don't push too hard however is the fact that some are multi-millionaires. Now, wouldn't you think that quality is a key element for voting?

I do ...

PS: Moreover, if YOU were a multimillionaire who would you support funding-wise? "Birds of a feather flock together." It is a very distinctly human quality of ours.
PPS: Yeah, yeah, yeah. I can see it coming! "Your just jealous!"
 

skeptic llc

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BIRDS OF A FEATHER ...



I beg to differ (as regards the HofR) - given that that America's richest-class is ONLY around 7% of the population. (By no stretch of their imagination can one consider that fact "ordinary".)

Any government elected function (city, state or national) should demonstrate the "will of the people" who elected them. I suggest further that because Americans are branched so fully to the Boob-Tube, that the TV plays a central role in the election of any candidate for public-office.

And for that reason, it needs a set of guiding rules that it does not have today - we "sell" political candidates like we market cars - by employing superlatives.

The one superlative that they don't push too hard however is the fact that some are multi-millionaires. Now, wouldn't you think that quality is a key element for voting?

I do ...

PS: Moreover, if YOU were a multimillionaire who would you support funding-wise? "Birds of a feather flock together." It is a very distinctly human quality of ours.
PPS: Yeah, yeah, yeah. I can see it coming! "Your just jealous!"
Not to be difficult, but none of this suggests "millionaire" demonstrates some kind of rarified economic air, particularly in those states where being a millionaire is akin to be a "$100,000-aire" in the more primitive regions of the US that lack modern economies.
 

NatMorton

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Also FWIW, a quick check with an inflation calculator says that $1m was about $300k in 1980.
 

j brown's body

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One might argue that a million dollars isn't a lot of money, but a lot of people don't have it. But that's what it takes to run for office where money is everything. Money is speech, now, and you need a big megaphone. The days of the citizen legislator are over.

What's sort of gruesomely fascinating about it is, despite the wealth, how monumentally stupid so many of them are.
 
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