Jack Grauer

Recent Articles

Riches to Massive Riches: The Michael McCaul Story

(mccaul.house.gov)
Sick of investment advice from hacks like Warren Buffet and Donald Trump? Ask a congress member. Roll Call published their latest list of the “ 50 Richest Members of the 112th Congress ” last week. Texan House Representative Mike McCaul took first place, reporting a minimum net worth of $305.46 million for 2011. His wealth has increased exponentially over the past few years while the current median household income is the lowest it’s been since the late 1990s, according to recent data from the US Census: In 2011, real median household income was 8.1 percent lower than in 2007, the year before the most recent recession, and was 8.9 percent lower than the median household income peak that occurred in 1999. The average Texan made $38,294 in 2011. One play from the McCaul book involves influencing legislation to turn a profit. The McCaul family holds between $325,000 and $750,000 worth of stock in a parent company of Pratt & Whitney, according to Republic Report . Pratt & Whitney...