Reader poll
If one were to arrange the members of Congress from richest to poorest, you’d find some familiar names near the top of the list.
Sen. John Kerry, D-Mass., is the fourth-richest member, with an average net worth north of $231 million. Rep. Nancy Pelosi, D-Calif., comes in at No. 9, with an average net worth of more than $101 million.
And near the bottom of that list you’d find another familiar name: Rep. Kevin Yoder, R-Kan. With an average net worth of negative $91,998, Yoder comes in as the 17th-poorest member of Congress, according to an analysis from the Center for Responsive Politics.
The center culled personal financial data from 2010, which all members of Congress and top members of the executive branch are required to disclose. Because a person’s net worth is fluid, the center’s analysis settled on an average amount for that year.
While just 1 percent of Americans are millionaires, the data revealed 47 percent of members of Congress are. It’s a disparity that social commentators have blamed for a perceived disconnect between Congress and the average American.
Yoder is not alone in recognizable names who have neared the bottom of Congress’s personal wealth list. In 2008, Vice President Joe Biden, then a senator, acknowledged he was the second poorest member, saying “I’m not proud of it. But that’s what happens when you get elected when you’re 29 years old.”
Yoder, who was elected at age 34, reported making $30,143 in 2010. About $26,000 of that came from his state representative salary, and about $4,000 came from his position as partner at the Olathe law firm Speer & Holliday.
Yoder also reported holding between $21,007 to $140,000 in assets, mostly savings and investment accounts. His debts range somewhere between $95,004 and $250,000, most of which is student loans. Yoder holds bachelor’s and law degrees from Kansas University.
The other members of Congress representing Douglas County are significantly wealthier. Rep. Lynn Jenkins reported an average net worth of $510,000. Sens. Jerry Moran and Pat Roberts reported average net worths of $768,000 and $845,000, respectively. Still, Jenkins, Moran and Roberts fall far short of the average net worth of their colleagues. That number is $5.9 million for members of the House and $13.2 million for members of the Senate.
By law, members of Congress are not required to list their government income or their property as assets, unless the property produces an income. To take a closer look at the data, visit the center.
Comments
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TheSychophant (anonymous) says…
"Yoder fares poorly in wealth ranking" Why the pejorative headline? There is nothing wrong with a representative whose financial circumstances are similar to that of his constituents. In fact, it is somewhat refreshing.
smitty (anonymous) replies…
correct however the header reflects the JW editorial staff's attitudes...same deterioration of reporting too.
UNIKU (anonymous) replies…
hello kettle...this is the pot...
jafs (anonymous) replies…
Do most people have a negative net worth of around $90K?
If so, that's a bit of a problem, isn't it?
asixbury (anonymous) replies…
Yeah, the average college student is close to that number. I am probably more in debt than that if you include my husband's as well. We are both fresh out of graduate school, though, so I guess that can be expected. Most people are more in debt than that when you count their mortgages.
jafs (anonymous) replies…
Well, houses are both assets and debts, if you have a mortgage.
And, negative net worth isn't a measurement of debt - it's a measurement of assets-debt.
So if you have a house valued at $100K, and $80K is mortgaged, that actually should wind up being about $20K positive as far as your net worth is concerned.
asixbury (anonymous) replies…
Well in that case, I'm more in the hole then I thought before. Assets? What are those? lol
KU_cynic (anonymous) says…
For someone as talented as Kevin to forgo a more lucrative private sector career and instead devote himself to public service is something his constituents should be proud of.
mustrun80 (anonymous) replies…
Yoder is the definition of a slimy say anything politician. He was head of the college dems at KU and then decided to become a republican when he moved to JOCO.
He's a scumbag.
http://www.pitch.com/kansascity/kevin...
NavyVet (anonymous) replies…
how does that make him a scumbag M-80? those facts, to the extent they are true, were known when he was elected. it's not like he's hiding anything.
you're likely one those college dems at KU. and someone who made the wrong choices in life, including your career. so in your simpleton mind you find pleasure and take solace in denigrating others. others who didn't make such poor choices. others who try to make something of themselves; including those who serve.
just_another_bozo_on_this_bus (anonymous) replies…
"you're likely one those college dems at KU."
You obviously haven't read many of m-80's posts.
mustrun80 (anonymous) replies…
I never said he was hiding anything NavyVet. The fact that they were known when he was elected makes them good things?
Make something of themselves? The guy has been salivating at power since he was a kid. Became a lawyer only to become a career politician - that's making something of yourself for you maybe, I guess you worship career politicians.
'
Those who 'serve'. NavyVet, you've got to be kidding me. Yoder chose not to serve in two wars he gleefully has supported. He CHOSE to cheerlead other's children into combat while he, a young fit looking guy who wants to be a leader, stayed home because he, uh, had to go to grad school?
Your definition of 'serving' is quite different than mine.
From an afghan vet.
Made_in_China (Paul R. Getto) replies…
+1 I just don't like his ideas but admire his commitment.
kevingray (anonymous) says…
I curious why the writer picked out the two Democrats with huge fortunes, 4th and 9th, and didn't mention the Republicans, who evidently are the wealthiest at numbers 1, 2, and 3?
vertigo (Jesse Crittenden) replies…
Actually 1 and 2 are Repubs- but they're not household names (at least not in Kansas). Rep Mccaul from Texas and Rep Issa from California. That would be a major reason for using the Dems rather than the Repubs- people don't know who these two are.
Kerry is #3 and democrats hold 3 thru 9.
Pelosi is now #12.
It appears the article is using outdated numbers (2010 vice 2011).
http://www.rollcall.com/50richest/the...
gatekeeper (anonymous) replies…
If Issa isn't a household name, then you've had your head stuck in the sand.
acouch (Aaron Couch) replies…
Hi Kevin,
I chose them because they are the most nationally well-known members in the top ten.
Aaron Couch
Reporter
mloburgio (anonymous) says…
Congressman Kevin Yoder Rep. Lynn Jenkins. voted to end medicare and medicaid as we know it.
• Increase prescription drug costs for 43,700 Medicare beneficiaries in the region who enter the Part D donut hole, forcing them to pay an extra $431 million for drugs over the next decade.
• Eliminate new preventive care benefits for 522,000 Medicare beneficiaries in the region.
The Republican proposal would have even greater impacts on individuals in the Kansas City metro area age 54 and younger who are not currently enrolled in Medicare. It would:
• Deny 2.7 million individuals age 54 and younger in the region access to Medicare’s guaranteed benefits.
• Increase the out-of-pocket costs of health coverage by over $6,000 per year in 2022 and by almost $12,000 per year in 2032 for the 552,000 individuals in the region who are between the ages of 44 and 54.
• Require the 552,000 individuals in the metro area between the ages of 44 and 54 to save an additional $129 billion for their retirement – an average of $180,000 to $287,000 per individual – to pay for the increased cost of health coverage over their lifetimes. Younger residents of the metro area will have to save even higher amounts to cover their additional medical costs.
• Raise the Medicare eligibility age by at least one year to age 66 or more for 304,000 individuals in the district who are age 44 to 49 and by two years to age 67 for 2.1 million individuals in the district who are age 43 or younger.
http://democrats.energycommerce.house...
just_another_bozo_on_this_bus (anonymous) says…
Yoder is in his first term. Assuming he gets re-elected to a few terms, check back in a few years, and if he's typical of most legislators, his net worth will be considerably higher.
And even if he only serves a few terms, the extremely generous pensions that legislators get, and his ability to play the revolving door into lobbying (i.e., influence peddling) means that he'll be part of the 1% the rest of his life.
grammaddy (anonymous) replies…
You beat me to it Bozo! Give him some time. Becoming a legislator at the federal level seems to be the fast track to becoming a millionaire.
NavyVet (anonymous) says…
so? are you saying you wouldn't parlay whatever success you enjoy into more success? if you are, you'd be a hypocrite. and you probably are now, anyway.
just_another_bozo_on_this_bus (anonymous) replies…
No, I'm saying that the vast majority of those who choose to go into "public service" figure out how to make out pretty well for themselves--- why do you think insider trading isn't illegal for members of congress?
JackMcKee (anonymous) replies…
technically it's not insider trading. It should be illegal nonetheless
jafs (anonymous) replies…
Some people have some ethical standards, and others don't.
just_another_bozo_on_this_bus (anonymous) replies…
True-- but even among those who have "ethical" standards, those standards allow lots of behavior that most people would not consider ethical.
funkdog1 (anonymous) replies…
+1,000,000
jafs (anonymous) replies…
My comment was for funkdog, who implied that everybody is greedy, and lacking in any moral principles.
jafs (anonymous) replies…
Sorry, for navyvet.
Yeoman2 (anonymous) says…
Oh, Boo Hoo! The only reason this slime ball got elected is the intoxicated voters and their Republican kool aid tea. He is just another theocrat right winger who marches in lock step to the tea bag obstructionists in the House of Represenatives.
verity (anonymous) says…
All else aside, that is an unnecessarily negative headline.
smitty (anonymous) replies…
to parapharse Robert Gilmore, the Dillions man, That's our JW.
Alceste (anonymous) says…
While Yoder's votes against Medicare and Medicaid speak for themselves, the one saving grace for the fellow is that he is the lone Kansas member of Congress who did NOT sign the specious Americans for Tax Reform "Taxpayer Protection Pledge". That took a little bit of courage.
http://www.atr.org/userfiles/Congress...
http://s3.amazonaws.com/atrfiles/file...
Then again, perhaps all of them got together and gave Yoder a pass. Who knows? *shrug* Biddness as usual, eh?
jafs (anonymous) replies…
Actually, we should expect to see Norquist et. al. go after him for that in a big way - that's their usual mo.
Alceste (anonymous) replies…
Grover Norquist is a very little man who, sadly, is NOT given a wide berth by a lot of dopey politicians. The sway he holds is a very strong comment on just how bankrupt the "democracy" of the U.S.of A. is.
http://en.wikipedia.org/wiki/Grover_N...
jafs (anonymous) replies…
Yep.
He actually has a lot of power, and is very upfront about how he uses it.
Anybody who doesn't know much about him should watch the 60 minutes interview with him - it's about 14 minutes, and it's very informative.
tolawdjk (anonymous) says…
Read the title. Thought to myself "Well duh, that town is full of Amish! Monitary wealth certianly isn't high on their priorities list!"
verity (anonymous) says…
Article by Bill Reiter, KC Star
http://midwestdemocracyproject.org/ar...
Marty Keenan, The Kansas Free Press
http://www.kansasfreepress.com/2010/0...
Unfortunately, Mr. Yoder appears to have turned on his Mennonite roots the same way that Todd Tiahrt did.
JackMcKee (anonymous) says…
$4000 a year as a partner? Is that a typo? That sounds like a hobby, not a job.
JackMcKee (anonymous) replies…
and he took out $250,000 in loans? That doesn't sound very bright.
sleepy33 (anonymous) replies…
It says his debts range from $95k to $250k. For an undergrad plus a law degree from KU, that's absolutely in the ballpark for student loans. I don't know what current tuition is for KU Law, but Washburn Law was somewhere north of $30k per year in 2006.
JackMcKee (anonymous) replies…
$250k in loans to get a job that pays $4k per year is what I'm questioning
sleepy33 (anonymous) replies…
If only spending a lot of money on an education came with a guaranteed job at a certain income level...
I imagine the $4k is some kind of nominal salary they pay to keep his name on the letterhead. He's probably not putting in a lot of hours at the firm.
JackMcKee (anonymous) replies…
so what was Yoder doing the rest of the time the KS legislature wasn't in session?
sleepy33 (anonymous) replies…
Well, that figure is just from 2010, which I believe is the year he campaigned for the US House seat.
JackMcKee (anonymous) says…
Could a person so far in debt obtain a security clearance from the government? That's the real question.
yourworstnightmare (anonymous) says…
Too bad Yoder has not remained true to his moderate inclinations. While not the nuttiest of tea baggers, he certainly kow tows to them.
Romney-lite.
oscarfactor (anonymous) says…
Kevin Yoder is married. It might paint a more accurate picture, in his case, to ask what the net worth of his wife is as well.
KRichards (anonymous) replies…
Pretty sure that is included. Or else John Kerry would not be worth nearly as much as he currently is. Marrying a ketchup heir has positives.
deathpenaltyliberal (anonymous) replies…
True. Ask our Governor or John McCain about the benfits of a wealthy wife.
oscarfactor (anonymous) says…
Brooke Robinson Yoder is a Washington lobbyist. I believe she works on agriculture issues for the most part. While that in itself does not mean the family is worth lots of $$$, I would tend to believe the Yoders aren't scraping it to make ends meet.
Newell_Post (anonymous) says…
Give him time. After a couple of terms, he will parlay his contacts into lucrative lobbyist contracts and then the dough will start tumbling in.
It's sort of like Newt running again. Newt doesn't want to win. It would cost him too much money. He just needs to get back in the public limelight to pump up his lobbying, "consulting," and speaking businesses. People were starting to say: "Newt who? Isn't that the Geico spokes-reptile?"