Tag Archive: Net Worth


 . . . And Here’s Why

 

 

 

 

” In a report from AllGov.com, we learn that for the first time more than half of all members of Congress are millionaires. But what’s really interesting about the story is that it tells us there are more Democrats than Republicans in Congress who are millionaires.

  That is not surprising to some of us, but it might be to a lot of people who have bought the Democrat/lamestream media narrative that Republicans are “the party of the rich.”

  Let me tell you why this really is.

  First, let’s understand there is nothing wrong with being a millionaire, or a billionaire for that matter. Contrary to what the rhetoric of the Democratic Party suggests, the vast majority of rich people have earned their fortunes by working hard and accomplishing things that have benefited others. That includes those who have made their money by investing, because they have put their capital at risk to help finance businesses that create jobs and produce goods and services people want and need.

  Having said that, how can it be that there are more Democrat millionaires than Republican millionaires when everyone knows the conventional wisdom that Democrats are the party of the working man and Republicans are the party of the rich?”

 

 

 

 

 

 

 

 

Jobs, Debt And Poverty All Are Up

 

ObamasNumbers-ThirdQuarter_v03

 

 

” America is still gaining jobs under President Obama, but millions more live in poverty, typical household incomes have not kept pace with inflation, and the federal debt is up nearly 90 percent and on pace to double before he leaves office. Stockholders, meanwhile, are far wealthier than they were the day he was sworn in.

U.S. oil production continues to boom, as do wind and solar power, while dependence on foreign oil keeps dropping. International opinion of the United States has slipped a bit, but generally remains far higher than before he took office, except in the Muslim world, where it has gotten even worse.

These are among the findings in our latest update of “Obama’s Numbers.”

 

 

Take these numbers with a grain of salt . 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From Zero Hedge

 

1913 Just Happens To Be The Year Of The Fed’s Creation … Co-incidence ?

 

” The Fed claims it can generate a “recovery.” It cannot. The Fed’s devaluation of our currency is the very reason why the economy is a disaster.

According to the NY Times the average net worth for Middle class Americans in 2010 was 6% lower adjusted for inflation than their average net worth in 1989.

As the articles notes, housing costs 56% more than in 1989, our of pocket healthcare expenses rose 155%, college expenses are up in the double digits

The Fed is responsible for the Dollar devaluation that caused this. The Fed is the one that eviscerated the Middle Class. Its policies have lowered the quality of life for Americans. Period. End of story.”

 

 

 

 

 

 

 

 

 

GOP: MENENDEZ SPENDING 87% OF WEALTH TO PAY FOR FLIGHTS RAISES QUESTIONS

 

Casa de Campo: A gated paradise: An inside look at the exclusive Dominican resort where the rich and famous vacation — and where Sen. Robert Menendez was occasionally a guest.

 

Who paid for the lodging ? This looks even more expensive than the private flights .

 

” On Tuesday, the National Journal reported that Menendez spent up to 87 percent of his entire wealth to pay back campaign donor Dr. Salomon Melgen for two 2010 flights to the Dominican Republic. Menenedez has admitted to three such flights aboard Melgen’s jet and claims all three occurred in 2010.

“When Robert Menendez arrived in the U.S. Senate in 2006, he was a relative pauper in a chamber often called a millionaires’ club,” National Journal’s Shane Goldmacher reported.

The New Jersey Democrat ranked 97th out of 100 senators in terms of his personal wealth, according to financial records filed that year and compiled by the Center for Responsive Politics. So Menendez’s decision last month to use his personal funds to reimburse a prominent political contributor $58,500 for two flights to the Dominican Republic came at a major cost. The repayment amounts to between 32 percent and 87 percent of the assets Menendez reported holding in bank accounts and stock, according to his latest financial-disclosure form, which was filed last year.

Menendez did not pay Melgen back for the flights until early 2013, after investigative reports incited public scrutiny. Menendez paid Melgen $58,500 in early January for two of the flights. The third was paid for by the Democratic Senatorial Campaign Committee, which Menendez chaired back in 2010.”

 

There would seem to be lots of questions regarding Mr Menendez’ finances .

MIDDLE CLASS NET WORTH COLLAPSES TO 1969 LEVELS

 

 

 

 

 ” According to the study, we are now back to 1969 levels with respect to median net worth in this country. A large part of this is the housing crisis we’ve yet to recover from, which cost the middle class 18% of its net worth. The news isn’t much better with respect to median incomes, which have dropped to $26,364, setting us all the way back to 1999.

And as middle class incomes declined, the debt-load among the middle class has increased “significantly.”

In a nutshell: those of us in the middle class earn less, are worth less, and owe more. Meanwhile, during this same period of time, the wealthy increased their wealth by an unbelievable 71%.”

 

 

The sixties are back , feel the progress

How Are You Making Out ?

The Tea Party

 

The Congressional Wealth Gap” 

 

  ” Ballotpedia has compiled data on the average net worth of our elected officials for the years 2004 to 2010. As the average net worth of Congress has increased since 2004, and held about even from 2007 to 2010, the average American family net worth dropped 40 percent from 2007 to 2010 to an average of $77,300.

In 2010, the average net worth for a U.S. senator was $13,224,333. The average net worth for a Democratic senator was $19,383,524, compared to $7,054,258 for a Republican senator. That’s a difference of $12.3 million.

The top ten richest senators, the highest seven of which are Democrats, from this Ballotpedia table:”

 

HT/Instapundit

   Would someone please explain to us why , with accomplishments like this ,  Barack Obama has even a ghost of a chance at being given a second term ?

    As someone who was part of the workforce during the Carter ” malaise” years I must say that this us the most dismal economic performance in nearly a century .

   All that’s missing are the gas lines …. Oh and an Iranian crisis …. But he’s hard at work on that one now isn’t he ?

  “While Americans might enjoy throwing politically-charged barbs at their neighbors to the north, Canadians now have at least one reason to be smug. For the first time in recent history, the
average Canadian is richer than the
average American, according to a report cited in Toronto’s Globe and Mail .

    And not just by a little. Currently, the average Canadian household is more than $40,000 richer than the average American household. The net worth of the average Canadian household in 2011 was $363,202, compared to around $320,000 for Americans. “