- GOP Senator Ron Johnson from Wisconsin revealed on Friday that his net worth has doubled since taking office in 2010 — but still has the gall to say he’s getting a raw deal.
- Johnson stated, “Most people increased their net worth, you know, 3.8 times, that’s what the S&P index increased. So the fact that I’ve only gone up only double, I’ve way underperformed the market.”
- Based on his gross misunderstanding of growth in the S&P 500 stock market index, Johnson apparently believes that most Americans’ net worth has nearly quadrupled over the last 12 years.
Brad Reed from Raw Story writes:
“Sen. Ron Johnson (R-WI) on Friday revealed that he’s doubled his net worth since first getting elected in 2010 — and that he thinks he’s getting a raw deal.
In an interview with talk radio station WSAU, Johnson falsely assumed that most Americans have seen their net worth nearly quadruple over the last 12 years based on the growth of the S&P 500 stock market index.
“Most people increased their net worth, you know, 3.8 times, that’s what the S&P index increased,” he said. “So the fact that I’ve only gone up only double, I’ve way underperformed the market.”
Johnson went on to explain that he “only” doubled his net worth over the last decade-plus because he turned all of his marketable securities into cash “so there could be no conflict of interest…”
See full story here.
Categories: Business, Economy, Government, Politics, WTF?
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