Add It Up: Wealth and power
August 8, 2007 at 8:37 am by Andisheh Nouraee in NewsOf the 15 senators and representatives representing Georgia in Congress, number who are millionaires: 11
Percentage of Americans in 2005 whose net worth exceeded $1 million: 3
Median family income in Georgia in 2005: $53,744
Annual salary of U.S. senators and representatives: $165,000
Amount Rep. John Linder, worth $23.5 million, says he earned in royalties from the book The Fair Tax, co-authored with talk-show host Neal Boortz: $500,000
Approximate tax owed on $500,000 book income: $147,206
Tax Linder would owe on $500,000 book income if his Fair Tax proposal became law: $0
Combined self-reported net worth of Republican senators Johnny Isakson and Saxby Chambliss: $12.7 million
Cost over five years of children’s health-care funding that Isakson and Chambliss voted against last week: $35 billion
Cost over next decade of extending Bush-proposed tax cuts, a proposal both senators support: $1 trillion
Sources: Macon Telegraph, U.S. Census Bureau, CNN Money.com, the Center for Responsive Politics, Washington Post, MoneyChimp.com, Congressional Budget Office
August 8th, 2007 at 10:35 am
I saw this site about Saxby’s net worth and had to get my eyes checked:
http://www.opensecrets.org/politicians/pfds.asp?CID=N00002685
“$37,000-80,000?” Did he strike oil after this report in ‘05?
August 12th, 2007 at 9:36 pm
Tax cuts only “cost” money if you ignore the economic growth that has followed every single significant time they have been used (Kennedy, Reagan, Bush). It’s really very simple.