So much for Bernie Sanders’ downtrodden socialist cachet.
Sanders describes himself as one of the poorest members of Congress. However, even the poorest members are able to buy things out of reach to the average American, especially the working class and student loan indebted base of the Sanders movement.
On Monday, Seven Days, a weekly Vermont newspaper, reported that Sanders recently bought a $600,000 lakefront home on Lake Champlain. It is not his primary residence; he owns two other homes, one in Washington, DC, and another in Burlington, Vermont. The Lake Champlain residence has four bedrooms and 500 feet of lakefront “facing Vermont, not New York.”
The sale did not go unnoticed on social media.
— Dan Bongino (@dbongino) August 10, 2016
— King Robbo (@realkingrobbo) August 10, 2016
Sanders has not accumulated enough wealth to be part of the 1 percent he railed against during his failed campaign, but his net worth is hardly insubstantial.
According to James O’Brien of Campaigns & Elections Magazine, Bernie and his wife have a net worth of between $1.2 and $1.5 million, not the $700,000 routinely reported by the media.
The failed socialist candidate has gone out of his way to cover up his wealth.
“For someone who doesn’t care about money, he goes a long way to cover up his true net worth,” O’Brien explains. “Bernie does not disclose the value of real estate holdings. He can. He is not required to, but he could if he chose. It is known that he and/or his wife own at least two homes—one with rental income in Vermont and one near Capitol Hill where the median home value is $722,000.”
Bernie’s wife, Jane O’Meara Sanders, took a golden parachute payout when she was the president of Burlington College.
“Senator Sanders should be asked to explain how his opposition to severance packages for corporation executives squares with his wife getting a cushy severance of $200,000,” Bruce Parker wrote for Watchdog, an organization focused on the transparency, accountability and fiscal responsibility of government.
In January, a formal request was filed to have Bernie’s wife investigated for federal bank fraud. The lawsuit involves the sale of prime lakefront real estate owned by the Roman Catholic Diocese in Burlington.
“The loan transaction involved the overstatement and misrepresentation of nearly $2 million dollars in what were purported to be confirmed contributions and grants to the college,” states a letter sent by attorneys to the United States Attorney for the District of Vermont.
“The move backfired massively, leading to Sanders’ departure from the college and the near-collapse of the institution,” write Blake Neff and Peter Fricke of the Daily Caller News Foundation.
Despite his rhetoric and image as a savior of working people, Bernie Sanders is an establishment insider – he is the ranking minority member on the Senate Budget Committee – and has worked in government since 1980 when he was elected mayor of Burlington.
While he has not cashed in on his “public service” to the extent of his colleagues, Bernie has managed to accumulate a degree of wealth unimaginable back when he was a carpenter and a political activist.
In addition to an annual salary of $174,000, Sanders will receive a federal pension under the Civil Service Retirement System, and enjoys health benefits provided by the American taxpayer. And unlike most Americans who are forced into the substandard Medicare system, Bernie will be able to keep his government subsidized healthcare after he retires.