6 ms·

For a salary of $0, someone who's already uber successful, doesn't need the money and is into it for the challenge. $5M someone who just wants to make a boat l

• hayst4ck 6y ago
  > For a salary of $0, someone who's already uber successful, doesn't need the money and is into it for the challenge. Yeah, so who is not running? If it paid $0, that creates a definite class of people who cannot run. Furthermore I suspect that any income deficit would be gained by using the position's power for personal gain. If it paid $0, we probably wouldn't see AOC in office. Many politicians travel between DC and their home. If money is insufficient for that, it could create worse representation. These politicians employ assistants and advisors, lower salary theoretically creates poor incentives (corruption) or getting candidates that are less valuable (industry might be able to out compete). Just about everyone wants money, and $5M is a lot. It excludes virtually no one, and is enough money that you don't really need any other sources of income. $10mil is enough to live a middle class life without working for the rest of your life. I would expect that type of compensation to breed more fierce competition. I don't think it's in any way obvious that politicians should not be paid well, nor do I think it's at all obvious what the result of low or high compensations for politicians would be.