I just started reading a book titled: Throw Them All Out It is about how politicians use their position to increase their personal wealth. Here is a quote: Politicians are often extraordinarily good investors-too good to be true. They may not have figured out how to help our economy prosper, but the permanent political class is itself prosperous to a degree that should make us all suspicious. One study used a statistical estimator to determine that members of Congress were accumulating wealth about 50% faster than expected compared with other Americans. According to the Center for Responsive Politics in Washington, members saw their net worth soar, on average, an astonishing 84% between 2004 and 2006. (Other Americans didnt do quite so well, averaging about a 20% jump in the same period.) And when times turned lean, in 2009, with the rest of the country mired in recession, members of Congress nonetheless saw their net worth increase by 6% while the average Americans net worth plunged by 22%. Reuters even ran a story on the subject, titled Get Elected to Congress and Get Rich.
Posted on: Wed, 13 Aug 2014 02:16:18 +0000
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