GOP Senate Candidate Ted Cruz, In Fact, Rich As Sh*t

ted cruz.jpg
Gage Skidmore
Ted Cruz: As rich as he looks
Last week, after it came out that Texas Lt. Gov. David Dewhurst is worth an astonishing $177 million and would become the third-richest member of the U.S. Senate if elected to a body that has at least 54 millionaires, there was one word local media employed to describe his competitor Ted Cruz's financial worth: "modest."

Okay people, reality check. There's nothing modest about Ted Cruz, not his anti-compromise conservative orthodoxy, not his financials, and not his chin -- which seems to have receded into his neck. Last week, the Houston Chronicle reported he's worth roughly $1.5 million and his 2011 income clocked in at between $1.8 million and $1.9 million. His Philadelphia-based law firm, Morgan, Lewis & Bockius, where he's a partner, pays him $1.75 million in salary.

Modest, this ain't. Sure, perhaps compared to Dewhurst. But he conjured his riches in the energy industry riding his Falcon Seaboard Diversified Energy and Investments Co., which he founded in the mid-1980s and is worth nearly twice as much as Jeremy Lin's three-year contract if he comes to Houston. But let's be serious. In real terms, Cruz is ballin'. According to the 2010 U.S. Census, nearly 17 percent of Texans live below the poverty line, the cutoff of which is $22,300 for a four-member family or $11,100 for a one-person household.

Cruz, meanwhile, is four times wealthier than the ordinary member of the in the 1 percent. They make on average $344,000 per year and, in the process, have captured 24 percent of national income. In 2010, they gobbled up 93 percent of economic growth.

But in the U.S. Senate? Cruz, who will face Dewhurst in a runoff election on July 31, is barely living in the black, and possesses but a "modest portfolio." What a chump! And he calls himself a Republican. Really, he should be embarrassed. Only $1.75 million a year, Ted? Mitt Romney would never take you out on his yacht, "Bain Or Death."

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11 comments
Philip Bennett
Philip Bennett

Damn him for working hard and making a decent buck!!

Clay
Clay

 Can you blame the most qualified for not running for office? You can make far more in other industries than as a politician, see Bill Gates and Steve Jobs.

Katy
Katy

Your comment got me to thinking, and I was wondering where the article says that Cruz committed a crime.  Generally, when I'm considering who to vote for, I learn as much as I can about the candidates and decide what i think is relevant.  There are MANY articles about candidates that are NOT accusations of crime. Some are relevant to me and most aren't. Whatever the voters end up thinking is relevant IS relevant.

Todd Warak
Todd Warak

Weird article. Starts off stating that Dewhurst is worth 177M then berates Cruz for making between 1.5 to 1.9M/year?

Jeff
Jeff

It isn't class warfare to point out that the only people who actually have any power in our elected branches of government are the richest of the rich in America, nor is it class warfare to point out that others have suggested that a "modest" income is $1.75 million per year. No one is begrudging them from making lots of money. I'm sure we'd all love to do it. But, the fact that it is a virtual requirement that a candidate be rich in order to win an election and that we've reached the point that a candidate who only makes a couple mil a year is considered a modest earner is not exactly a great example of representative democracy. You can scream "class warfare" all you want. It doesn't change the fact that the vast majority of our elected leaders -- the ones in Washington, anyway -- have virtually nothing in common with the people they represent and that can't be a good thing.

Erin
Erin

Stick to the issues!!!!  Congratulation to both Dewhurst and Cruz for being wealthy.  Why is that a crime??  And, if it was (which it isn't), Dewhurst wins the prize for guilt.  Obviously, $1.5 million is more than "modest" compared to $177  million.  Talk about a case of "fuzzy math."  The writer is playing big time class warfare, which I detest, but does he think we can't see that it's illogical that he demonizes Cruz and not Dewhurst?  Do the math.  $177 million is ONE HUNDRED AND EIGHTEEN TIMES $1.5 million.  Better yet, stick to the issues that affect the citizens of Texas and this country, and not this baloney!

Caulfield
Caulfield

what are the issues between the two Brenda?

Brenda0012000
Brenda0012000

I am so tired of this class envy! Who cares! Good for Dewhurst, Cruz or anyone else who has succeeded. Get over yourself and stick to the issues!

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