Thirteen freshmen senators took their oath of office on Tuesday, and of those 13, six are millionaires, reported Bloomberg. This wealthy demographic of senators will surely please the likes of Wall Street types.
According to Bloomberg, a recent Pew Research Center study found that the “wealth gap between the nation’s top 20 percent of earners – including many members of Congress – and every other income group in America” is wider now than it’s been in the last 30 years. And these super-rich senators only further contribute to that gap.
There are six more Congressional members that are millionaires, which creates six more powerful allies for Wall Street to get behind and support.
Freshmen Republican senators David Perdue, Steve Daines, Mike Rounds, Thom Tillis, Gary Peters, and Dan Sullivan all have a total midpoint net worth of nearly $80 million. Perdue rings in as the wealthiest freshman senator with a total midpoint net worth of $31.6 million. Peters, however, is the only Democrat in the group, but he used to work in finance. So he will likely pander to Wall Street like his Republican cohorts.
Bloomberg has noted that the estimates are quite conservative, meaning that these new senators are probably worth more.
Okay, these guys are filthy rich. So what? At face value, it just looks like a bunch of rich guys became politicians and that’s that. However, the number one motivation for any Republican is money. Any other issue comes at a distant second to their money. And they are going to do anything to protect themselves, which will include protecting others like them.
This new crop of senators is the Wall Street, corporate crowd. And with all this new money entering the Senate, it’s foolish to think there won’t be anymore favoritism towards Wall Street and the one percent.