Are we on our way to a point at which being a millionaire will become virtually a prerequisite for pursuing any important political position? Via CNN:
For the first time ever, more than half of current members of Congress are millionaires, according to a new report from the non-profit Center for Responsive Politics.
Among the 534 current members of Congress, at least 268 had an average net worth of $1 million or more for 2012, the CRP said, citing disclosure forms filed last year.
CRP executive director Sheila Krumholz said the data reflect the reality that “in our electoral system, candidates need access to wealth to run financially viable campaigns, and the most successful fundraisers are politicians who swim in those circles to begin with.”
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