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Kevin McCarthy, Poorest Member Of GOP Leadership, Elected House Majority Leader
Moments ago Kevin McCarthy of California was elected majority leader by House Republicans, according to Riva Litman, spokeswoman for Republican Conference Chairman Cathy McMorris Rodgers. He fills the spot lost by Eric Cantor following his shocking loss to a tea-party activist two weeks ago. McCarthy win is not surprising: it was largely expected. What however, is notable is that with a self-declared net worth of between only $76K and $266K, albeit is substantial jump from the he $16K he revealed in 2008, he is by far the poorest member of the GOP leadership group.
Not surprisingly, the wealthiest member of the GOP leadership, is the outgoing Eric Cantor with a net worth between $5.7 million and $19 million, more than doubling his money from the reported $2.4 - $7 million in 2008. We are confident McCarthy will be quite able to catch up in the coming years.
Rep. Kevin McCarthy (R., Calif.), who is currently vying to succeed Mr. Cantor in next week’s election, has by far the fewest assets of any member of House GOP leadership. The California Republican is worth at least $76,000 and at most $266,000 – a significant jump from his total of $16,000 in 2008, but still significantly below the second-least wealthy, Rep. James Lankford. Mr. Lankford, the fifth-ranking Republican in the House, has at least $133,000 in assets. House Speaker John Boehner is worth $2.3 million, up from $1.7 million in 2008.
Rep. Peter Roskam (R., Ill.) is expected to run for the spot of House Majority Whip in the event that Mr. McCarthy is promoted, and his filings show he is worth at least $446,000. But two other members expected to vie for the position have considerably fewer assets than Mr. McCarthy. Rep. Raul Labrador (R., Idaho) is worth at least $6,000, and Rep. Steve Scalise (R., La.) is worth at least $4,000.
Which is not to say that republicans in the House happen to be poor (or rich): this is merely the leadership group. Putting it in context, here is the chart showing the three highest-ranking democrats.
Just how did Pelosi, or rather her husband, accumulate such wealth? The following articles "Moody's Leaked Again: Told Nancy Pelosi Will "Probably Not" Downgrade US Weeks Ago; Did Her Multi-Millionaire Investor Husband Know Too?" as well as "Congressional Insider Trading Gone Wild" may offer some clues.
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3:37PM- behold, the pounding of the VIX
I don't believe these numbers one bit. Maybe INDIVIDUAL, but that is not hard to move income and wealth past the "prying" eyes of the media. What about household net worth? And what type of connections are these maggots making that will make serving in CONgress a penance to open up the vaults after they leave (and for family and friends)?
These fucks are NOT average joe six pack trying hard to make the rent.
pods
I for one, look forward to our McCarthyist overlords.
"Poorest member" = Easily bribed.
LOL so true soon to be the RICHEST MEMBER once he peddles his influence like all the other RATS
Exactly. Lottery Jackpot!!! Bitchez!!
I called my Congressman's (Scott Tipton(R) CO 3rd district)) office to see who he voted for in the leadership vote. I was told the vote was private and we (his staff) don't know how he voted. The staffer I was talking to said we know he voted just not who for. I was simply astonished. A private vote? We don't know who he voted for? Pathetic.
Congratulations Travis Mero(L), you just picked up a vote for your 2014 Congressional run.
They don't even bother to hide their corruption, treason or contempt anymore.
"Your vote 'counts' in how much Diebold gets paid."
"Moments ago Kevin McCarthy of California was elected majority leader by House Republicans"
Wow. Somebody really didn't get the message, or is at least willing to give the messengers the finger.
Poorest now. By the time they get done bribing his ass, he won't be
He used to own a lot of stocks and bonds when he was first elected, but a few years ago he lost most of his wealth in a boating accident.
Not the poorest for long.....
"The dream of virtually anyone who has ever traded even one share of stock has always been to generate above market returns, also known as alpha, preferably in a long-term horizon. Why? Because those who manage to return 30%, 20% even 10% above the S&P over the long run, become, all else equal (expert networks and collocated flow-frontrunning HFT boxes aside), legendary investors in the eyes of the general public, which brings the ancillary benefits of fame and fortune (usually in the form of 2 and 20). This is the ultimate goal of everyone who works on Wall Street. Yet, ironically, what most don't realize, is that these returns, or Returns On Investment (ROI), are absolutely meaningless when put side by side next to something few think about when considering investment returns.
Namely lobbying.
Because it is the ROIs for various forms of lobbying the put the compounded long-term returns of the market to absolute shame. As the following infographic demonstrates, ROIs on various lobbying efforts range from a whopping 5,900% (oil subsidies) to a gargantuan 77,500% (pharmaceuticals)."
http://www.zerohedge.com/news/2013-03-11/who-spends-most-dollars-lobbyin...
Peter Schweizer, president of the Government Accountability Institute (GAI), and Steve Bannon, Breitbart News' Executive Chairman, revealed a study discovered that for every dollar corporations spent on lobbying in 2004, they received $220 in return.This is a 22,000% return on investment.
In essence, this influence peddling is what has turned Washington, D.C., a town that does not create valuable product like oil, beef, or computers like boomtowns of the past, into America's wealthiest region.
Schweizer noted that for corporations, lobbying is now "a lot more profitable than buying or creating a new good."
He said 50% of corporations now have an ex-politician on their boards. General Electric, he said, spends $100,000 every single day to influence and lobby Congress.
http://www.breitbart.com/Big-Government/2013/01/25/Boomtown-Report-Corpo...
I'm not sure I'd believe the contents of any Congressional (or federal employee) tax return; its not hard to imagine they've all been massaged to obscure all that cash flow.
Thats an unbelievable amount of cash sloshing around DC
Look for a rags to riches story.
meet the new boss, same as the old boss
Maybe the Repubs are taking up vows of poverty as outline by Christ?
Naw...
But it was a nice thought...
because the poor are easily controlled due to dim iq levels?
Sadly, this is the root of the problem in a survival-of-the-fittest society. Eventually, the most-fit members have all the loot and unless the society can come-up with a reason to spare the least-fit members, they just become food for the most-fit members.
It's a moral delema; unless most members of society are willing to accept their fate honorably.
Without the monopoly nature of government, the "most-fit" (I like your smart-n-savvy better) will only be able to exert influence in a limited area for a limited amount of time.
With the advent of government and corporations, this monopoly can be extended in perpetuity.
So the moral dilemma is not one of kill or be killed, it is cede power to a government for the benefit of the least able to take care of themselves while opening up the possibilities of capture by the smart-n-savvy to everyone's detriment or let charity and kindness be the final backstop for the destitute.
pods
It's not the smart and savvy that win, it's the sleaziest, most connected criminal fucks.
FIFY
A vow Jews have never taken. That's usually to fuck over every goy they can to get rich. Just like their good book says.
All those years of insider trading and fat salary and Boehner is worth only $2MM?!
I call bullshit. Or maybe his wife is the one with the big statement.
If they ain't worth north of $20MM I'll eat my green commie cap.
Case of Scotch and two cartons of Kools a day adds up.
That and those spray tans.
He'd be completely broke but he made a deal with Pelosi that works out pretty well. He tans the fuck out of himself, and then she buys his molted skin to use for her face and neck.
An uncommonally rare bipartisan snark....
No surprise, Kevins been blowing weepy John and Eric for a long time. His graft paycheck will go way up now!
Give him a couple years of lobbyists funded wealth improvement and he will be an Al Gore or Charlie Rangle! There is no reason for the people to be in power except to steal your money for them and their friends! Is Cantor a lobbyist yet?
Some of these numbers defy all logic - Steny Hoyer has been in Congress since the time of Abraham Lincoln. He makes a healthy salary each year, get free health care, and lots of living expenses covered by the taxpayer - not to mention gobs of campaign money. Only $15K in assets? All this shows is how well the Congress has written the laws so that these crooks can hide their money from the IRS and the taxpayers.
Its all about onshore and offshore trust funds and shell companies halfway around the world. Not to mention all the money is probably earmarked to his family and is growing on his insider trading information for which he is immune being a member of the biggest crime syndicate in the world, the US Congress.
It's easy to see how all these 1% wannabes are bought so easily. Warren Buffet carries more around in his wallet than their total net worth.
https://www.youtube.com/watch?v=DgLBIdVg3EM&feature=youtu.be&app=desktop
The ending is the best
Don't worry, McCarthy, the lobbyists will help you catch up in no time!
Poorest on paper....
Don't let that fool you. Wasn't Marco Polo Rubio showing a net-loss on paper as far as worth in $ went over at opensecrets.
so lets see....he's quadrupled his net worth in 5 years. Yes, I'd say he's on track for multi-millikonaire statuis in 4 more years. BTW, let's not forget that relection treasuries belong to the person running at retirement or in the event of loss.
All is well.
But none of them are poorer than The Clintons when they left office, they were dead broke.
Just dead would be better.
Politicians and their insider trades.
The American dream - become a dogfucker politician and make a fortune off a parallel system made illegal for everyone else.
Ah yes, how things really are.
And as a reminder
Under the new rules for the 2008 election cycle, the DCCC [Democratic Congressional Campaign Committee] asked rank-and-file members to contribute $125,000 in dues and to raise an additional $75,000 for the party. Subcommittee chairpersons must contribute $150,000 in dues and raise an additional $100,000. Members who sit on the most powerful committees … must contribute $200,000 and raise an additional $250,000. Subcommittee chairs on power committees and committee chairs of non-power committees must contribute $250,000 and raise $250,000. The five chairs of the power committees must contribute $500,000 and raise an additional $1 million. House Majority Leader Steny Hoyer, Majority Whip James Clyburn, and Democratic Caucus Chair Rahm Emanuel must contribute $800,000 and raise $2.5 million. The four Democrats who serve as part of the extended leadership must contribute $450,000 and raise $500,000, and the nine Chief Deputy Whips must contribute $300,000 and raise $500,000. House Speaker Nancy Pelosi must contribute a staggering $800,000 and raise an additional $25 million.
—Marian Currinder, Money in the House (2008)
I'm sure only the Democrats who have this arrangement and I am sure McCarthy was picked for his based upon ability and the seniority system and it is not pay for leadership arrangement within the Republican party based upon how much one can fundraise for the party. I'm also sure his net worth isn't so low because he isn't using his own money to foward his career in this manner with the payoff coming once he gets a leadership position.
Don't throw gas on the fire with articles like this.
The lobbyists, corporate pimps, and foreign elements are happy to compen$ate.
How the hell can McCarthy be 49, a college grad and MBA grad, and only have a supposed net worth of $76k? Better stay in Congress long-enough to qualify for a fat pension and full benefits.
Mediocre But Arrogant loser.
I keep seeing that Eric Cantor lost to a tea party activist, but I can't find any link between David Brat and a tea party. Someone help me out here...?
There isn't. The Tea Party didn't provide Brat any backing in the primary. Brat and his crew did it the old fashioned grass roots way by getting out and talking to the voters one by one explaining the issues and where he stood on them and why.
Nothing more complicated than that.
Poke around a bit, I think it IS more complicated than that.
Bah! He'll be rich very, very soon.
Hope his wife drives a 8 year old Jeep like my wife does. $76,000 is not much these days. Middle class blues.
Sell the Jeep and get a corolla. We went from 12-16 mpg to 36-42 mpg.
That shit adds up. I do miss 4wd though.
pods
Bullcrap. Either he prefers to be paid off in hookers and blow, or this chart is net value he's holding some big, hairy mortgages that hide his assets.
Issa is worth $450 million, just saying.
Electing McCarthy was a huge mistake.
I'll bet the squid can't wait to sink it's beak into this guy.
I hope he has the tenacity and morals to withstand the barrage of stipends and endless per diem from banker central.
You can call is hope, but money trounces everything, even love and hope and all that other cutetsie stuff.
He'll be one of the richest soon, as he just gained one of the DCUS' catbird seats to corruption. However, there is always the matter of the future head "deduction" that tends to diminish one's net worth.
Eric and later Nancy will both complain that they leave government service flat broke.
This guy represents my hometown, and let me tell you... he is one Grade-A asshole.
If the criminals voted him in he's one of them. They wanted the image of a poor guy at the top. You can bet he passed the ass kissing and cock sucking exam before the vote.