Issues@Hand

AFA initiatives, Christian activism, news briefs

June 2014 – Even though many Americans are still recovering from the recession that started in 2008, others have seen their wealth skyrocket.

According to the Spectrum Group, a research and consulting firm in the wealth and retirement industry, a record breaking 9.6 million Americans have a net worth of more than $1 million. The previous record was set in 2008 with 9.2 million millionaires. Many who aren’t millionaires are still seeing their worth grow. Spectrum also said 15.3 million Americans have a net worth of at least $500,000 and 38.6 million people are worth more than $100,000.

According to Associated Press, all those who have grown their wealth are more likely to be represented by a Democrat than a Republican. The AP took a look at the claim that Republicans are the party of the rich and found that of the 10 richest districts for the House of Representatives, only two have Republican congressmen.

Research revealed that Democratic House districts have an average per capita income of $27,893, approximately $1,000 higher than the average income in Republican districts.

But for some Democrats, representing people with money isn’t enough. Jim Moran (D-VA) said, “I think the American people should know that the members of Congress are underpaid. I understand it’s widely felt that they underperform, but the fact is that this is the board of directors for the largest economic entity in the world.”

dailymail.co.uk, 3/14/14; mediaite.com, 4/3/14; news.yahoo.com, 3/31/14