Net Worth of Richest 25 U.S. House of Representatives
In the 2010, the Average Net Worth of the richest U.S. 25 House of Representatives Total 2.1 Billion Dollars, according to data from OpenSecrets.org, Center for Responsive Politics.
Nineteen of the richest House members are Republicans, while six are Democrats. The Republican House members have been the strongest supporters to avoid returning tax rates to their pre-2001 level. The Congressional Budget Office (CBO) estimated that extending the Bush era tax cuts from 2011-2020 will add $3.3 trillion to the national debt - $2.65 trillion in lost tax revenue and $0.66 trillion for debt interest.
Today taxes are lower than at any point since 1979, and have been credited with growing the government budget deficit, shifting the tax burden from the rich to the middle and working classes, and increasing income inequality without creating domestic economic growth. Unfortunately when controlling government representatives from the House are from the wealthy class, their policies increasingly support the richest rather than the majority of working Americans.
DATA SOURCES:
Average Net Worth - Richest 25 House of Representatives, 2010:
www.opensecrets.org/pfds/overview.php?type=W&year=201...
The Budget and Economic Outlook: An Update:
www.cbo.gov/ftpdocs/117xx/doc11705/08-18-Update.pdf
Tax Cuts Offer Most for Very Rich, Study Says:
www.nytimes.com/2007/01/08/washington/08tax.html?ei=5088&...
The Boom That Wasn’t: The economy has little to show for $860 billion in tax cuts: