Added: Leana Criss - Date: 19.12.2021 00:53 - Views: 24286 - Clicks: 6762
The U. A viral Facebook post from July that has found renewed life online tries to illustrate that point, but it misses the mark on a key detail. The claim was first posted on July 23, , and it has been shared about , times as of June 8. But it saw a surge in activity almost two years later, with commenters debating its accuracy and why public officials are disproportionately wealthy. Not so fast. Fact check: Nadler, Pelosi and Schiff next up for reelection in Credit Suisse publishes an annual report that analyzes, among other things, the of millionaires across the world.
At that time, the U. If children are included as well, the U. More recent data suggest the proportion of millionaires in the U. Financial services researchers at Phoenix MI said about 6. The user who shared the post did not respond to a request for additional evidence to support the claim.
Compared with the overall population, Congress is made up of a disproportionate share of millionaires. But determining the of wealthy people in Congress is more complicated. Members of the House of Representatives and the Senate are required to file financial disclosure forms that are publicly available, but they do not report a precise ing of their wealth. Instead, they report the value of assets and liabilities in ranges. Personal residences not held for investment purposes and some other large assets also don't have to be disclosed.
Fact check: Rep. The Center for Responsive Politics compiles those reports in a list to determine the wealthiest members of Congress, based on the average between the high- and low-end estimates of their net worth. The group estimated members were millionaires out of in , the most recent year for which OpenSecrets has compiled the data. Mark Warner, D-Va. The Facebook post comes very close to being correct about the share of millionaires in Congress, but it underestimates the statistic for the general population.
Recent estimates suggest the share of the U. Thank you for supporting our journalism. You can subscribe to our print edition, ad-free app or electronic newspaper replica here. Facebook Twitter . Fact check: Facebook post off about U. Show Caption. Hide Caption. GameStop-Robinhood 'Wall Street bets' frenzy explained. USA Today's personal finance and markets reporter Jessica Menton breaks down how hedge fund day traders are being wrecked by Reddit users.
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