Believe it or not! Millionaires don't vote for tax increases.

Following President Obama's announcement of his plan to increase taxes on the wealthy, attention turns to that Bastion of the Ordinary People, The US Congress. Here, the Representatives of Joe the Plumber (where is Joe dePlumber now.....not plumbing, I guess?), Tea Drinkers and Law Makers will artfully combine and try to negotiate (tee hee) this proposal out of existence.

But just how representative are the representatives? How many Joe the Electricians, Carpenters, Farmers, Builders and Carpenters are their in Congress? Ok, so we know the answer but let's have a look anyway.  Just for fun.......

The diagram below shows the relative net worth of ordinary Americans and ordinary Members of Congress (or the RRs - Representatives of the Rich!).

In November last year Center for Responsive Politics reported:

Despite a stubbornly sour national economy, congressional members’ personal wealth collectively increased by more than 16 percent between 2008 and 2009.  Nearly half of them -- 261 -- are millionaires, a slight increase from the previous year. That compares to about 1 percent of Americans. 

And of these congressional millionaires, 55 have an average calculated wealth in 2009 of $10 million or more, with eight in the $100 million-plus range.

 “Few federal lawmakers must grapple with the financial ills -- unemployment, loss of housing, wiped out savings -- that have befallen millions of Americans,” said Sheila Krumholz, the Center for Responsive Politics’ executive director. “Congressional representatives on balance rank among the wealthiest of wealthy Americans and boast financial portfolios that are all but unattainable for most of their constituents.”

In 2009, the median wealth of a U.S. House member stood at $765,010, up from $645,503 in 2008. The median wealth of a U.S. senator was nearly $2.38 million, up from $2.27 million in 2008. For all members of Congress regardless of chamber, median wealth in 2009 reached $911,510, up from $785,515 in 2008.

So there ya have it. The millionaires are going to vote to increase their own taxes. Em........ don't hold your breath! There's a saying in my country though. You get what you vote for..........