Senate Democrats Richer Than GOP Counterparts (RATS outted again!!)

Talon News ^ | 6/16/03 | Jeff Gannon

[Elkiejg]

Financial statements revealed the five richest members of the United States Senate are Democrats. The annual disclosure allows senators to represent their net worth inside a broad range.

Presidential candidate Sen. John Kerry (D-MA) is far ahead of his colleagues with $163 million, most of it coming from his wife's inheritance of the Heinz fortune. The actual estimate is over $400 million.

Lagging behind is Sen. Herb Kohl (D-WI) at $111 million. The Wisconsin senator's family owns a department store chain. Sen. John "Jay" Rockefeller (D-WV) comes in third with a personal fortune reported to be $81 million. Former Goldman Sachs chairman Sen. John Corzine (D-NJ) weighs in at $71 million, with Sen. Diane Feinstein (D-CA) rounding out the top five at $26.3 million.

Sen. Peter Fitzgerald (R-IL) breaks the string of Democrat multimillionaires in sixth place at $26.1 million. Sens. Frank Lautenberg (D-NJ), Bill Frist (R-TN), John Edwards (D-NC), and Edward Kennedy (D-MA) complete the top ten.

Democrats are 10 of the top 15 richest senators.

What has historically been referred to as the "Millionaires' Club" is living up to its reputation. Forty sitting members are millionaires but the Senate's measures of wealth don't take spousal income into consideration. If it did, Sen. Hillary Clinton (D-NY) would gain 7-figure status. In addition to her $8 million book deal, her husband's income was over $9 million in 2002 for speaking fees. The couple's combined net worth is offset by $5 million in legal defense fees that remain unpaid.

Another member that would be propelled into the ranks of the millionaires would be Senate Minority Leader Tom Daschle (D-SD). The South Dakota senator's wife Linda is a powerful lobbyist who earned an estimated $6 million last year.

[Elkiejg]

Just love it when the RATS are exposed for the hypocrits that they are!! Party of the "little people" - yeah right!

[hobbes1]

Another member that would be propelled into the ranks of the millionaires would be Senate Minority Leader Tom Daschle (D-SD). The South Dakota senator's wife Linda is a powerful lobbyist who earned an estimated $6 million last year.

A 2004 campaign issue if there ever was one...

[jjm2111]

Esp. Daschle and his wife. Daschle is a prime example of a pol who talks out of both sides of his mouth.

[conservatism_IS_compassion]

Party of the "little people" - yeah right!

Oh, it is--the party of most "little people" and a majority of the big ones . . . putting the pincer on the middle class. As the Gore domination of the inner cities and toney suburbs attests. Bush won everywhere else--geographically almost all the country.

[Reeses]

Most of the Rat money is inheritance or by marriage vs. actually earned. Everything about them is spending other people's money rather than working for it.

[drjimmy]

This article may be fun, but don't rely on it for factual information. While the premise is that the figures cited come from the financial disclosure forms, that isn't true. The financial disclosure forms only list ranges. Pete Fitzgerald reported assets of up to $50 million in Bank of Montreal stock, while Bill Frist reported that he has blind trusts worth up to $31 million, among other assets.

Since near the end of the article it correctly notes that spouse income is not included in the financial disclosure, how did it add in his wife's worth to come up with $163 million for John Kerry? A closer reading reveals that there is no actual source for any of the figures listed in the article--other than the ever-popular (and irrefutable) "estimates" and "reported to be." It may be true that the five richest members of the Senate are Democrats, but that is not "revealed" by the financial disclosure forms as claimed by the article.

[Susannah]

"Daschle (D-SD). The South Dakota senator's wife Linda is a powerful lobbyist who earned an estimated $6 million last year."

I remember hearing on tv that Linda was a lobbyist for the airlines.


Whenever I suggest to a democrat that republicans are not the party of the rich, they shrug it off with "well, the democrats that have money want to share it through more taxes....but they want it to be fair and apply to all rich"

[Grampa Dave]

This is a great sucker bet with the lefties we know.

When they start their mantras about the rich repubies, we can make a bet with them in front of the others around us.

Then we can cite this report to show another mantra of the left is really just a lie.

[Dark Wing]

ping

[jmc813]

I'd be interested in seeing who the "poorest" senators are.

[JohnnyZ]

Dr Jimmy,

The numbers above are the base estimates; each is "at least" as rich as stated above, because as you point out -- and the article points out -- the disclosures are listed in ranges. If you don't believe the article, try CNN:

John Kerry, D-Massachusetts: $163,626,399
Herb Kohl, D-Wisconsin: $111,015,016
John Rockefeller, D -West Virginia: $81,648,018
Jon Corzine, D-New Jersey: $71,035,025
Dianne Feinstein, D-California: $26,377,109
Peter Fitzgerald, R-Illinois: $26,132,013
Frank Lautenberg, D-New Jersey $17,789,018
Bill Frist, R-Tennessee: $15,108,042
John Edwards, D-North Carolina: $12,844,029
Edward Kennedy, D-Massachusetts: $9,905,009
Jeff Bingaman, D-New Mexico: $7,981,015
Bob Graham, D-Florida: $7,691,052
Richard Shelby, R-Alabama: $7,085,012
Gordon Smith, R-Oregon: $6,429,011
Lincoln Chafee, R-Rhode Island: $6,296,010
Ben Nelson, D-Nebraska: $6,267,028
Lamar Alexander, R-Tennessee: $4,823,018
Mike DeWine, R-Ohio: $4,308,093
Mark Dayton, D-Minnesota: $3,974,037
Ben Campbell, R-Colorado: $3,165,007
Chuck Hagel, R-Nebraska: $2,963,013
Olympia Snowe, R-Maine: $2,955,037
James Talent, R-Missouri: $2,843,031
Arlen Specter, R-Pennsylvania: $2,045,016
Judd Gregg, R-New Hampshire: $1,916,026
John McCain, R-Arizona: $1,838,010
James Inhofe, R-Oklahoma: $1,570,043
John Warner, R-Virginia: $1,545,039
Kay Bailey Hutchison, R - Texas: $1,513,046
Mitch McConnell, R-Kentucky: $1,511,017
Harry Reid, D-Nevada: $1,500,040
Sam Brownback, R-Kansas: $1,491,018
Thomas Carper, D-Delaware: $1,482,017
Ted Stevens, R-Alaska: $1,417,013
Maria Cantwell, D-Washington: $1,264,999
Barbara Boxer, D-California: $1,172,003
Orrin Hatch, R-Utah: $1,086,023
Mary Landrieu, D-Louisiana: $1,080,014
Bill Nelson, D-Florida: $1,073,014
Charles Grassley, R-Iowa: $1,016,024
*These figures are base estimates provided by senators on their financial disclosure forms.

http://www.cnn.com/2003/ALLPOLITICS/06/13/senators.finances/

[JohnnyZ]

"Senators at the lower end of the spectrum included Patrick Leahy, D-Vt., who reported a cash account worth $15,000 and a growth portfolio worth at least $15,000.

Joseph Biden, D-Del., listed an annuity account worth from $6,000 to $90,000 and life insurance policies worth from $15,000 to $50,000. His reported liabilities included loans and credit lines ranging from $305,000 to $715,000. "

http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2003/06/13/national1618EDT0658.DTL

[drjimmy]

Thanks for posting the information and the link to the CNN article. As it notes, John Edwards, Bill Frist, and Bob Graham, among others, could all be worth a whole lot more than the minimum listed in their financial disclosures.