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Mitch McConnell wealth increase from 3.1 million to 27.2 million

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TheDemSocialist

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Jeeeshhh Mitch how did your wealth increase that much that fast?

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Back in 2006, his major Vanguard investment was in its 500 Index Fund, estimated at between $650,003 and $1,350,000.The next year, McConnell's wealth in that fund jumped to an estimated $1,100,002 to $5,250,000. Then in 2008 (not a good year in the market), McConnell's wealth in that fund dropped a bit (estimated from $500K to $1M), but all of a sudden he had $5,001,002 to $25,015,000 in the Vanguard Tax Exempt Money Market.
The year before, he had a pittance ($1K to $15K) in that fund.
Somehow, some way, McConnell got much richer in 2008, getting at least $5M from somebody.
[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]That somebody was his second wife's father, who made his fortune in shipping Chinese-made goods to the USA.[/FONT]

So Mitch McConnell has moved from the upper-middle class of a lifelong government employee into the real upper class ($20M or so net worth) of someone who married a woman with a rich father.
[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Who just happened to become rich from his connections with the rulers of communist China.[/FONT]

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[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Read more @: https://www.dailykos.com/story/2010/12/05/925858/-How-Mitch-McConnell-became-very-rich[/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]And more @: Mitch McConnell (R-Ky), 2009 | Personal Finance Disclosure | OpenSecrets[/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]And more @: Sen. Mitch McConnell financial profile and asset distribution - Capitol Assets: A Washington Post investigation[/FONT]


[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Jesssh Mitchy. I thought you wanted to create American jobs not invest in Chinese labor and Chinese products. I see why you despise the idea of American factory workers making $15 an hour or more.... [/FONT]
 
I'm certain you're just as pissed at Pelosi.

House Minority Leader Nancy Pelosi's net worth skyrocketed 62% last year, to a jaw-dropping $35.2 million, according to financial disclosure forms released Wednesday.

Pelosi, the former House speaker, wasn't alone.

The California Democrat's gavel-gripping successor, Republican John Boehner, also saw his wealth get a boost, with the Ohio GOPer's net worth increasing from $1.8 million in 2009 to $2.1 million last year.

Pelosi's drastic growth, from an initial $21.7 million in 2009, is attributed to recent stock gains and smart investments. Her husband reported raking in $1 million to $5 million last year from a sale of Apple stocks.
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House Minority Leader Nancy Pelosi's wealth grows 62% to $35.2M, Boehner, Reid's worth increases too - NY Daily News
 
PerfectStorm said:
I'm certain you're just as pissed at Pelosi.




House Minority Leader Nancy Pelosi's wealth grows 62% to $35.2M, Boehner, Reid's worth increases too - NY Daily News
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I find it amusing when anyone brings up how wealthy our congresspersons get. One of the many perks of holding public office in the US is the lobbying business, along with various revenue outside of politics with books, public appearances etc, both sides benefit greatly from their position, why else would some one run for congress? To elicit change? Fat chance.
 
So, the takeaway from this thread is that John Boehner should fire his investment manager and hire Mitt Romney, right?
 
you'd be hard pressed to toss a stone in congress and not hit a plutocrat of either party. those who control the apples tend to eat, plant, and hoard a lot of apples.
 
I guess if you're not rich when you become a Senator, you will become rich while you're there. There is talk of Ashley Judd running against Mitch. I hope she does. I think she could win.
 
TheDemSocialist said:
Jeeeshhh Mitch how did your wealth increase that much that fast?

nvzchw.jpg


[/COLOR][/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Read more @: https://www.dailykos.com/story/2010/12/05/925858/-How-Mitch-McConnell-became-very-rich[/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]And more @: Mitch McConnell (R-Ky), 2009 | Personal Finance Disclosure | OpenSecrets[/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]And more @: Sen. Mitch McConnell financial profile and asset distribution - Capitol Assets: A Washington Post investigation[/FONT]


[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Jesssh Mitchy. I thought you wanted to create American jobs not invest in Chinese labor and Chinese products. I see why you despise the idea of American factory workers making $15 an hour or more.... [/FONT]
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Its a shame we can't ban these politicians and their spouses from making any investments and outside work while they are in office. Their attention should only be on their job, not trying to get rich.
 
There's a book. It's called Throw them All Out, or something like that.


Great book. Worth a read. Will boil your blood, regardless of your lean.
 
TheDemSocialist said:
Jeeeshhh Mitch how did your wealth increase that much that fast?

nvzchw.jpg


[/COLOR][/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Read more @: https://www.dailykos.com/story/2010/12/05/925858/-How-Mitch-McConnell-became-very-rich[/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]And more @: Mitch McConnell (R-Ky), 2009 | Personal Finance Disclosure | OpenSecrets[/FONT]

[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]And more @: Sen. Mitch McConnell financial profile and asset distribution - Capitol Assets: A Washington Post investigation[/FONT]


[FONT=Verdana, Arial, Helvetica, Geneva, sans-serif]Jesssh Mitchy. I thought you wanted to create American jobs not invest in Chinese labor and Chinese products. I see why you despise the idea of American factory workers making $15 an hour or more.... [/FONT]
Click to expand...

Senators and House representatives mostly profit while in office through investments. This is nothing new, but Senators seem to do better than people in congress.
 
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