
Sometimes described as “the world’s most exclusive club”, the United States Senate is perhaps one of the least known and understood institutions in the American government. A close examination of the composition and structure of the United States Senate helps explain how America has transformed from an agrarian republic envisioned by James Madison and Thomas Jefferson, to a financial aristocracy favored by Alexander Hamilton.
For most Americans, the US Senate is seen as a branch of the US government where each state regardless of its size and population has an equal number of elected officials to represent its interests in the national government. This current arrangement of the US Senate, which is known as the Connecticut Compromise, was not how the founding fathers such as James Madison had envisioned the new American republic, and its flawed design has been one of the contributing factors why American democracy has evolved into a plutocracy ruled by the wealthy. The latest financial bailout of banking officials and the health care reform legislation failing to be passed in the US Senate are the most recent examples of how the US Senate has continually protected the interests of the wealthy in America, while disregarding the interests of the majority of the population.
Most Americans, fail to remember (or were never taught in school), that up until 1911 and the passing of the 17th Amendment, members of the United States Senate were appointed by state legislatures, rather than elected by the people. Kevin Phillips in his book, Wealth and Democracy, quotes the historians Samuel Eliot and Henry Steele Commanger who described United State Senators prior to the 17th Amendment as “Standard Oil Senators, sugar trust Senators, iron and steel Senators and railroad Senators, men known for the business affiliations rather than for their states”. As the recent government bailout of the financial industry and failure to reform health care showed, Senators like Max Baucus of Montana and Joe Lieberman of Connecticut should be known as the Health Insurance Senators, while Chris Dodd from Connecticut and Charles Schumer from New York should be known as the hedge fund and speculative finance Senators.
Prior to the 17th Amendment, state legislatures, who were infiltrated and controlled by large and wealthy corporations, railroads, and mining companies were able to get a lock on the U.S. Senate, which were chosen by the state legislatures. The power of these corporations, railroads, and mining companies was so powerful that Theodore Roosevelt described the Senate, “where every great fortune was incubated, every new commercial empire was sanctioned, every reform circumvented”. As Phillips notes in his book, “the Senate’s rise within the government structure and the parallel ascent of corporations with the U.S. economy was unmistakable. The two fed off of each other from the late 1860s to the early 1900”. Any person paying any reasonable amount of attention to the how the US Senate operates today it is clear the relationship between corporations, wealth, and US Senators is stronger than ever in American history.
The composition of millionaires in the United States Senate in 2010 is a staggering 66 percent, a dramatic 34 percent increase from ten years earlier. Thanks to the work by The Center for Responsive Politics and documented in a New York Times article, the wealthiest Senator is Herb Kohl, a Democrat from Wisconsin, with an estimated net worth of $214,570,011 in 2008. The average net worth across the Senate was $13,989,022.98.
Further giving credibility and weight to the statement that American democracy has evolved into a plutocracy ruled by the wealthy are to include the list of millionaires in the lower House of Representatives, where 240 legislators were worth at least $1 million. The richest representative was likely Darrell Issa, a Republican from California, who was worth an estimated $251,025,020 in 2008. The average net worth across the House was $4,670,831.
If American voters cast their votes in the 2010 Senate races based on their pocketbook and not based on their gun holster or union card, then and only then would you really see the interests of hard working American people be represented in Washington DC.














