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[Benton]

(03-06-2016, 09:48 PM)JustWinBaby Wrote: ^^^I'd like to know how many were millionaires before taking office, because one could argue the talent and connections to win election probably yielded business success.

Because what that leaves you with are the people who became millionaires while IN office, like Harry Reid.  I think you'll find most that became millionaires while in office had unbelievable "luck" in real estate or stock investing (a.k.a insider trading and/or illegal kick-backs).

Valid points.

http://www.washingtonpost.com/wp-srv/special/capitol-assets/congressional-wealth-risk-matrix/

According to WaPo, 30 congressmen report any significant assets of income from private business.

Real estate income (126) was more likely, as was institutional (stocks, bonds, retirement funds) investment (117). Only 32 were what they considered heavy traders in stocks and markets. Spouses were a sizable chunk.

According to the link below, the number of "self-made" is fairly well, but it doesn't include how much of that was self and how much was just getting made. Remember, Trump considers himself self-made with only a small $1 million loan to get started.

Quote:Two-thirds of the current members became multimillionaires thanks to their own business acumen, whereas just a decade ago that figure was no more than 40 percent.


That shift has been almost entirely because of a change in the type of wealthy Republicans on the Hill. This year, 25 GOP lawmakers on the 50 richest roster have self-made fortunes, but only five made the list thanks to inherited wealth. In 2004, there were 15 with huge family fortunes and only a dozen who had made their own money.

Of the Democrats among the 50 richest, eight are self-made, eight owe their financial comfort to their spouses and only one is a trust-funder: Rep. Joseph P. Kennedy III of Massachusetts, whose namesake great-grandfather made a legendary fortune in banking, liquor and moviemaking.

There are several real estate success stories, trial lawyers, oil and gas entrepreneurs and online innovators among the 50 richest. But it’s the car business that’s produced the most members on the list: five auto dealership magnates and the former CEO of a parts manufacturer.

http://blogs.rollcall.com/hill-blotter/richest-members-of-congress-2015/