CDZ How profitable is being elected to Congress?

[320 Years of History]

The answer to the title question seems to be "not bad by any stretch of the imagination, and it's not because of the salary earned by members of Congress."

• The inflation-adjusted annual percentage change for non-Congresspersons was 3.7 percent from 2004 to 2012. For members of Congress, it was 15.4%.
• From 2011 to 2012, the average net worth change of a freshman member of the 113th Congress in one year was 8.3%.
  
• From 2009 to 2012, the average net worth change of a freshman member of the 112th Congress in three years was 50%.
  
• 11 of the Top 20 net worth increases are for Republicans. 9 are for Democrats. (In other words, party affiliation doesn't have much impact.)

Want all the gory details? Click here.

Other bits of trivia:

• The 15 Richest Politicians in the United States
  
• Most in Congress are millionaires, but not because they're getting rich off the system - Watchdog.org (Don't ask me why the title of this article and the concluding sentence say the complete opposite things.)
  
• Why is Congress a millionaires club?
  
• Congressional Members' Personal Wealth Expands Despite Sour National Economy
  
• How Did Members of Congress Get So Wealthy?
  
• http://economix.blogs.nytimes.com/2009/11/25/your-senator-is-probably-a-millionaire/

 

[Skull Pilot]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

 

[Wyatt earp]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

Thank you that was the first thing I was going to say congressmen and women made millions off it from both party's.. Notably Nancy Pelosi ...

 

[GaryDog]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

Thank you that was the first thing I was going to say congressmen and women made millions off it from both party's.. Notably Nancy Pelosi ...

Why is she especially notable?

Darrell Issa is 1st. Nancy is 14th.

List of current members of the United States Congress by wealth - Wikipedia, the free encyclopedia

 

[Wyatt earp]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

Thank you that was the first thing I was going to say congressmen and women made millions off it from both party's.. Notably Nancy Pelosi ...

Why is she especially notable?

Darrell Issa is 1st. Nancy is 14th.

List of current members of the United States Congress by wealth - Wikipedia, the free encyclopedia

The 60 minutes episode I seen a few years ago, before they outlawed it and then made it legal again.

 

[Fair&Balanced]

There is a reason people will sending tens of millions of dollars to be elected to a position that pays $200K or so.

 

[Wyatt earp]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

Thank you that was the first thing I was going to say congressmen and women made millions off it from both party's.. Notably Nancy Pelosi ...

Why is she especially notable?

Darrell Issa is 1st. Nancy is 14th.

List of current members of the United States Congress by wealth - Wikipedia, the free encyclopedia

http://www.newsmax.com/t/newsmax/article/417848


60 Minutes' Uncovers Pelosi's Insider Stock Trades
By Newsmax Wires
Sunday, 13 Nov 2011 7:49 PM

Join in! 1 Comment


Former House Speaker Nancy Pelosi bought stock in initial public offerings (IPOs) that earned hefty returns while she had access to insider information that would have been illegal for an average citizen to trade with – even though it’s perfectly legal for elected officials, CBS’s "60 Minutes" reported Sunday night.

In a piece relying on data collected from the conservative Hoover Institution, "60 Minutes" revealed that elected officials like Pelosi are exempt from insider trading laws – regulations that carry hefty prison sentences and fines for any other citizen who trades stocks with private information on companies that can affect their stock price.

In the case of elected officials – this secret information ranges from timely details on lucrative federal contracts to legislation that can cause companies’ stocks to rise and fall dramatically.

 

[Fair&Balanced]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

Thank you that was the first thing I was going to say congressmen and women made millions off it from both party's.. Notably Nancy Pelosi ...

Why is she especially notable?

Darrell Issa is 1st. Nancy is 14th.

List of current members of the United States Congress by wealth - Wikipedia, the free encyclopedia

http://www.newsmax.com/t/newsmax/article/417848


60 Minutes' Uncovers Pelosi's Insider Stock Trades
By Newsmax Wires
Sunday, 13 Nov 2011 7:49 PM

Join in! 1 Comment


Former House Speaker Nancy Pelosi bought stock in initial public offerings (IPOs) that earned hefty returns while she had access to insider information that would have been illegal for an average citizen to trade with – even though it’s perfectly legal for elected officials, CBS’s "60 Minutes" reported Sunday night.

In a piece relying on data collected from the conservative Hoover Institution, "60 Minutes" revealed that elected officials like Pelosi are exempt from insider trading laws – regulations that carry hefty prison sentences and fines for any other citizen who trades stocks with private information on companies that can affect their stock price.

In the case of elected officials – this secret information ranges from timely details on lucrative federal contracts to legislation that can cause companies’ stocks to rise and fall dramatically.

Imagine that, elected officials make themselves exempt from laws that apply to us little people.

And we keep electing these jerks.

 

[320 Years of History]

Seems all that legal for politicians only insider trading really does pay off

The easiest way to become a millionaireis to be elected to Congress

Thank you that was the first thing I was going to say congressmen and women made millions off it from both party's.. Notably Nancy Pelosi ...

Why is she especially notable?

Darrell Issa is 1st. Nancy is 14th.

List of current members of the United States Congress by wealth - Wikipedia, the free encyclopedia

http://www.newsmax.com/t/newsmax/article/417848


60 Minutes' Uncovers Pelosi's Insider Stock Trades
By Newsmax Wires
Sunday, 13 Nov 2011 7:49 PM

Join in! 1 Comment


Former House Speaker Nancy Pelosi bought stock in initial public offerings (IPOs) that earned hefty returns while she had access to insider information that would have been illegal for an average citizen to trade with – even though it’s perfectly legal for elected officials, CBS’s "60 Minutes" reported Sunday night.

In a piece relying on data collected from the conservative Hoover Institution, "60 Minutes" revealed that elected officials like Pelosi are exempt from insider trading laws – regulations that carry hefty prison sentences and fines for any other citizen who trades stocks with private information on companies that can affect their stock price.

In the case of elected officials – this secret information ranges from timely details on lucrative federal contracts to legislation that can cause companies’ stocks to rise and fall dramatically.

An interesting set of circumstances followed that story:

• Congress passed and President Obama signed the "Stock Act." (See also: FACT SHEET: The STOCK Act: Bans Members of Congress from Insider Trading)
• Congress subverted, not altogether without justification, one key aspect of the Stock Act. But here's the thing: the personal information that was considered sensitive (identity theft and whatnot being the concern) could easily be redacted from the online information that was to be made available just as it's redacted from the tax returns Presidential candidates release.