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> take bribes as well as ensuring only the independently wealthy can be politicians Those are other, unrelated problems that need to be addressed in their own
by pritambaral 13y ago
> take bribes as well as ensuring only the independently wealthy can be politicians
Those are other, unrelated problems that need to be addressed in their own right, but cannot be used as justification for high pay scale of politicians.
- bostonpete 13y agoI suspect most high ranking government officials in the US could make significantly more in the private sector so it's hard to claim there's a high scale of pay for politicians -- at least in the US.
- talmand 13y agoPoliticians don't get rich from their paycheck.
- niels_olson 13y agoThey also didn't get elected for knowing a bunch of regular folks.
- pbhjpbhj 13y agoAssuming you're not being snide; how do they get rich then (whilst in post)?
- edias 13y agoGenerally they don't unless their doing something illegal. Most politicians are reasonably to very wealthy going into office, and being a high ranking politician basically secures them a high paying position in the private sector afterwards. Many people from the FCC/FDA will go into the telecom/pharmaceutical industries for example. Others will charge huge fees for speaking engagements and appearances. I remember reading Bill Clinton charges in the 10k-50k range for speaches but not sure on the specifics. So basically no one expects to make money from their paycheck, but rather go into politics for the fame, connections, and other intangibles.
- talmand 13y agoIt's not always illegal. Position, connections, and influence go a long way before you even commit a crime.
- talmand 13y agoNot being snide, it's a well-known phenomenon. Look at Harry Reid as an easy example.
- talmand 12y agoOh, don't believe me? http://www.nationalreview.com/articles/314025/how-did-harry-reid-get-rich-betsy-woodruff http://www.nationalreview.com/articles/314025/how-did-harry-... http://www.realclearpolitics.com/articles/2014/04/24/harry_reids_long_steady_accretion_of_power__wealth.html http://www.realclearpolitics.com/articles/2014/04/24/harry_r... http://nevadanewsandviews.com/archives/2975 http://nevadanewsandviews.com/archives/2975 http://www.thedailybeast.com/articles/2012/08/15/harry-reid-savvy-investor.html http://www.thedailybeast.com/articles/2012/08/15/harry-reid-... Take your pick.
- danielweber 13y agoPoliticians and their aides consistently get above-average returns on their stock portfolios.
- sosborn 13y agoThat's a pretty big claim. Any data to back it up?
- danielweber 13y agohttp://econpapers.repec.org/article/bpjbuspol/v_3a13_3ay_3a2011_3ai_3a1_3an_3a4.htm http://econpapers.repec.org/article/bpjbuspol/v_3a13_3ay_3a2...
- rosser 12y agoYou were aware that sitting politicians in the US are exempt from the laws against insider trading, weren't you?
- poolpool 12y agoInsider trading isn't illegal for politicians. They can trade stock knowing certain laws will be passed or bills introduced that will have an effect.