Looking for Mr. Smith? Don’t look in Congress. Adjusting for inflation, and not counting home equity, members of Congress are more distant from their constituents than ever before:
The financial gap between Americans and their representatives in Congress has widened considerably since [the 70s], according to an analysis of financial disclosures by The Washington Post. Between 1984 and 2009, the median net worth of a member of the House has risen 2½ times, according to the analysis of financial disclosures, rising from $280,000 to $725,000 in inflation-adjusted dollars.
Over the same period, the wealth of an American family has declined slightly, with the median sliding from $20,600 to $20,500, according to the Panel Study of Income Dynamics from the University of Michigan.
It just costs too much to run for Congress today for anyone who’s not fairly well off to do it. And that’s no coincidence. As income inequality goes up, campaign funding from rich donors also goes up — partly because the rich have more money and partly because they’re more motivated to use that money to influence the political process in order to protect their wealth. This creates an arms race that effectively precludes anyone who doesn’t have either money of their own or access to wealthy donors from running. And that means that Congress has fewer and fewer members with any real connection to the working world. Is it any wonder that members of Congress these days don’t really care at all about the views of the poor and the working class?