Re:House Democrats to propose ban on lawmaker stock trading ...
by chmod775 on Thursday July 28, 2022 @03:22PM
(#32268999)
> Part of the problem is that if the job doesn’t pay well, it attracts people who are independently wealthy and who are more likely to represent the interests of the wealthy.
Just don't elect them. When running for office in most places, being considered wealthy or coming from a wealthy family is a considerable hurdle to overcome (as is being extremely poor).
Re:House Democrats to propose ban on lawmaker stock trading ...
by Uehreka on Thursday July 28, 2022 @05:06PM
(#32270110)
> When running for office in most places, being considered wealthy or coming from a wealthy family is a considerable hurdle to overcome
I wouldn’t call it a major hurdle. Many voters have inconsistent beliefs: They may think wealth is a sign of virtue and hard work during campaign season and then start saying “cut congressional salaries!” when they get angry, not realizing that they voted for people who are insulated from the very tactic they are pushing. It’s not enough to just say “well then don’t elect them”, we need to make sure the system of incentives we’ve created doesn’t funnel towards bad outcomes.
The upshot of this is that when “the people” get pissed and start saying things like “Don’t pay congress until they fix the government shutdown!”, it unilaterally screws anyone who was working or middle class prior to election, as they now have no salary and can’t hold out as long as the multi-millionaire politicians who have a law firm back home or a huge stock portfolio paying their rent.
The idea that, under the current system, people are running for congress for the money isn’t exactly in line with how things currently operate.