Wealth disclosures not so transparent

by - June 14, 2012

These massive data dumps — released in the name of transparency — paint an incomplete financial picture of members of Congress.

(PHOTOS: Lawmakers' wealth)

The financial disclosures allow huge ranges in reporting the value of assets, require no reporting of spousal income above $1,000 and often provide an incomplete picture of lawmakers’ real estate assets. There is no requirement to reveal tax returns — a stark contrast with presidential candidates, who voluntarily give the public a peek into their taxes.

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