You are fed, clothed, and housed by the state. You have no luxurious amenities, no exercise of personal wealth, no contact with anyone other than for official business.
If you honorably discharge your duties to the completion of your term of office, you will be compensated for life to such a degree that you will never have to work again.
There's a lot of nuance that I'm glossing over, but the gist is that holding powerful positions ought to require severe personal sacrifice, but you will be handsomely rewarded after-the-fact if you bear that burden with dignity.
The other more important effect is that it neuters any kind of quid pro quo type of corruption, if paired with a big enough stick. It's hard to bribe someone if they will get to live in luxury for the rest of their life anyway, and where discovery of the deal would land them in prison for life.
Criminality among the rich and the politically connected is off the charts. Itβs way beyond any group of immigrants for example that these same people are trying to demonize.
Chat control? Every single politician should have that on their phone.