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Retiring House Republican says $174,000 isn't enough money for members of Congress: 'Most of us don't have wealth' (www.businessinsider.com)

submitted 11 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

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Rank-and-file members of both the House and Senate are paid $174,000 a year.

That probably seems like a decent amount of money, and it is: The median household income in 2022 was $74,580, according to the US Census.

But consider that members of Congress generally have to maintain two residences — one in Washington, DC, and one in their home state — and that they haven't gotten a raise since 2009.

Inflation, meanwhile, has eaten away at the value of that salary over time: If lawmakers' salaries had kept pace with inflation, they would be paid over $250,000 today.

Rep. Patrick McHenry, a North Carolina Republican who served as the interim speaker of the House following Kevin McCarthy's ouster, told The Dispatch that congressional pay needed to be raised in order to attract "credible people to run for office."

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[-] WoahWoah@lemmy.world 29 points 11 months ago

Hey, everyone: he just said 12% of the United States population are millionaires. More than one out of every 10 people. Think about that.

Guess how net worth looks for the bottom 88%.

Wealth disparity in this country is insane.

[-] Viking_Hippie@lemmy.world 13 points 11 months ago* (last edited 11 months ago)

Hey, everyone: he just said 12% of the United States population are millionaires. More than one out of every 10 people. Think about that.

First, that's the absolute highest estimate of anyone halfway credible.

Second, that includes real estate holdings. If you own a house anywhere even halfway desirable but don't have a penny to your name otherwise, you're usually still a millionaire.

Guess how net worth looks for the bottom 88%.

Absolutely 3rd world country atrocious. For some of the top 12% too, once you take their house out of the equation and only count the wealth they can spend without becoming homeless.

Wealth disparity in this country is insane.

Definitely. Anyone who says otherwise is either an idiot, part of the problem, or both.

this post was submitted on 05 Jan 2024

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