Running for Senate Will Cost You $6.4M

by InvestorPlace Staff | June 24, 2012 5:40 pm

investorpoliticsletters2 Running for Senate Will Cost You $6.4M[1]Running for Senate takes charisma, moxie, and a good campaign staff. It also requires good fundraising skills – or multimillionaire status.

An infographic from Good magazine[2], drawing on data from Maplight, found that the average senator raised $6.4 million[3] in the two years prior to taking office. This works out to about $8,700 a day.

Running for a seat in the House will also set you back seven figures. The average House member raised $1.2 million in the two years prior to being elected, or $1,700 a day.

There are some other fascinating facts present in this infographic. For instance, just 0.26% of all Americans fund 68% of all contributions to Congress. In fact, 99.74% of Americans gave less than $200 each. The finance, insurance, and real estate industry gives the most money to members of Congress.

For more information, check out this Washington Post blog entry[4], or this Good [5]magazine infographic[6].

– Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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Endnotes:
  1. [Image]: mailto:letters@investorplace.com
  2. infographic from Good magazine: http://awesome.good.is/transparency/web/1206/what-s-the-cost-of-getting-into-congress/flat.html
  3. average senator raised $6.4 million: http://www.washingtonpost.com/blogs/the-fix/post/want-to-serve-in-the-senate-64-million-please/2012/06/21/gJQA9ZbLtV_blog.html?wprss=rss_the-fix
  4. Washington Post blog entry: http://www.washingtonpost.com/blogs/the-fix/post/want-to-serve-in-the-senate-64-million-please/2012/06/21/gJQA9ZbLtV_blog.html?wprss=rss_the-fix
  5. Good : http://awesome.good.is/transparency/web/1206/what-s-the-cost-of-getting-into-congress/flat.html
  6. magazine infographic: http://awesome.good.is/transparency/web/1206/what-s-the-cost-of-getting-into-congress/flat.html

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