From a Democrat website, on the wealth gap, D vs R

Where's the wealth gap? Try Congress
By TIM GRIEVE | 6/17/08 4:25 AM EST
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Jim Clyburn
House Majority Whip Jim Clyburn (D-S.C.) Clyburn has investments in Investment Entrepreneurs valued at $100,001-$250,000.
Photo: AP

If Democrats ever need evidence of a wealth gap in America, they can find it in their own House leadership.

Rep. Nancy Pelosi made $212,000 last year as House speaker. Rep. Steny H. Hoyer made $183,500 as House majority leader.

But while Pelosi and her husband own a many-million-dollar vineyard in St. Helena, Calif., and two other multimillion-dollar homes, Hoyer holds a portfolio more typical of a public servant — somewhere in the vicinity of a half-million dollars in IRAs and much smaller sums in a smattering of other accounts.

Other highlights from financial disclosure forms released Monday:

Retiring Rep. John Doolittle (R-Calif.), under investigation for his ties to Jack Abramoff, reports having $66,250 in his legal defense fund. Rep. William Jefferson (D-La.), under indictment on corruption charges, reports approximately $20,000 in contributions to his legal defense fund but also says that he owes BET founder Robert L. Johnson between $100,001 and $250,000.

Rep. Laura Richardson (D-Calif.), dogged by foreclosure stories back home, requests more time to complete her forms, as did indicted Rep. Rick Renzi (R-Ariz.) and retiring Rep. Vito J. Fossella (R-N.Y.). Below are summaries of the leaders’ disclosures, prepared by The Associated Press.

— Tim Grieve

House Speaker Nancy Pelosi (D-Calif.)

Earned income: $212,100

Major assets: Together with her husband, Paul, Pelosi owns a vineyard in St. Helena, Calif., valued at $5 million-$25 million; a town house in Norden, Calif., valued at $1 million-$5 million; rental property in Napa, Calif., valued at $500,000-$1 million; and a Wells Fargo bank account containing $100,000-$250,000.

Major sources of unearned income: Rent from the Napa property totaled $15,000-$50,000; rental income from the vineyard totaled $50,001-$100,000.

Major liabilities: Mortgage on the vineyard totaled $5 million-$25 million (up from $1 million-$5 million in 2006); mortgage on Norden house totaled $500,001-$1 million; and mortgage on the rental property in Napa totaled $250,000-$500,000.

Gifts: Pelosi received an inscribed decoupage box from the Democratic National Committee Women’s Leadership Fund ($395) and the Eleanor Roosevelt Award from the Women’s National Democratic Club ($983).

Notes: The Pelosis exercised a $1 million-$5 million option to purchase a home in San Francisco as their primary residence in 2007. Paul Pelosi reported nearly four dozen stock sales and purchases last year, sometimes involving sums of up to $1 million or more. The largest included buying $500,001-$1 million of Cisco Systems Inc. stock and $500,001-$1 million worth of New River Pharmaceuticals stock. He invested $1 million-$5 million in Apple Computer stock in January and, in October, sold some of it for $1 million-$5 million. He appeared to take a loss on a $1 million-$5 million investment in Sandisk Corp. stock, which he bought in October and sold in December for $500,000-$1 million.