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by just2n 3354 days ago
Given how common it is for members of Congress to become mega millionaires over a few decades on a job that pays ~$200k/yr, I wouldn't trust them in this capacity.

How many of us would hold steady in our own ethics and morals if someone routinely offered something like a $2,500,000 payday and we had no risk at all of being fired or jailed?

1 comments

> Given how common it is for members of Congress to become mega millionaires over a few decades on a job that pays ~$200k/yr

Can you provide a source for this? Don't know much about the topic but I've always assumed that, in general, Congressmembers who are wealthy were already wealthy before they were elected to Congress.

If you look at the rate of returns on their investments, they would outpace a lot of Wall Street and definitely most index funds.

https://mobile.nytimes.com/2011/07/10/business/mutfund/congr...

From a different article, that study has some odd data points:

> The study found some significant difference based on party membership and seniority, with the Democratic sample beating the market by nearly 9% annually, versus only about 2% annually for the Republican sample.

> And representatives with the least seniority considerably outperformed those with more seniority.

"Congress Tells Court That Congress Can’t Be Investigated for Insider Trading"

https://theintercept.com/2015/05/07/congress-argues-cant-inv...