Rand Paul’s Net Worth
Most Money Made In: Ophthalmology
Estimated Net Worth as of 2015: 1.1 Million
The lesson here is that doctors make a substantial amount of money. Occasionally due to high debt and expectations, doctors have issues saving money. This doesn’t seem to be the case for Rand Paul. Though it is valuable to recognize that even if you have a large income, you still are required to spend less than you earn.
Rand Paul’s net worth is provided by his financial disclosure. His personal financial disclosure was taken from the Center for Responsive politics webpage: opensecrets.org. The disclosure itself is quite interesting. Rand Paul owns a few index funds and rental properties. He also receives substantial royalties from books he has written.
His incentives are mostly aligned with the rich. He earned most of his money in a high earning profession, medicine. Here is an example of a way his income might incentivize him to vote. He depends on a large income in order to support a great deal of spending. It seems as though the salary of the president would probably be sufficient. It is important to note that because of his high income he is pretty exposed to changes in tax rates on high earners. Some have suggested that income taxes on the upper income brackets be increased. Paul is dependent largely on earned income, like book royalties. Increases in upper income tax brackets hit him hard, compared to other millionaires who might be earning most of their money from capital gains and dividends. That doesn’t necessarily mean he wouldn’t support such a proposal, or if he opposes it that he does so out of greed. It’s just that the negative effects are easier to envision and empathize with when you have to experience them yourself.
For more on our series of politicians and their net worth check out: