U.S. Senate candidate Edward Markey earns around $150,000 a year; Gabriel Gomez over $1.7 M
To be totally transparent, it is important to mention this does not include Markey's wife income, who, given her job, are probably very decent, but I doubt will amount to anything close of the difference.
It also does not take into account the fact that the Markeys do not have children and the Gomez family has 4, but a lot of people raise their kids with a lot less than these salaries, so this is not exactly relevant.
So I find this difference significative, between somebody who spent his life in public office and somebody who became an investment banker. This probably tells us a lot about the values of this country (not that I would not be happy with Markey's salary).
http://www.masslive.com/politics/index.ssf/2013/05/senate_candidate_edward_markey_1.html
U.S. Senate candidate and congressman Edward Markey earns around $150,000 a year; Gabriel Gomez averages $1.7 million
Income tax filings made public this week by the two candidates for U.S. Senate highlights a vast disparity in wealth between Republican Gabriel Gomez, who earned a fortune working in private equity, and Democrat Edward Markey, who has served in Congress for more than three decades.
According to his federal tax filings, Gomez earned $10.1 million between 2006 and 2011, or an average of $1.68 million a year.
Markey, during those same years, earned $890,000, an average of $148,000 a year. (Markey earned similar amounts of money annually in 2005 and 2012.)
Gomez's filings show he paid $2 million in federal taxes over the six-year period, giving him an average effective tax rate of 21.02 percent. Though the tax rate for top earners was 35 percent during those years, much of Gomez’s income came from investments, which are taxed at a lower rate than ordinary income.
Markey paid $231,000 in federal taxes over eight years, giving him an average effective tax rate of 19.18 percent.
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