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JAPAN NEWS AND DISCUSSION

U.S. lawmakers get richer as voters struggle

Commentary Dec. 29, 2011 - 05:49AM JST ( 6 )

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6 Comments

2
tkoind2Dec. 29, 2011 - 09:17AM JST
So much for representation by our "peers." Simple solutions abound.
1. Stop electing priviledged class people to represent a working class nation.
2. Heavily regulate their ability to invest and gain speculative income while in office.
3. Cap their annual income while in office.
But the most obvious answer is a complete revision of how we are represented so that the voice of the people can take priority over the demands of the corrupt politicians, of corporations and of the already wealthy.
1

MaboDofuIsSpicyDec. 29, 2011 - 12:38PM JST

Smart people make money.

We can make a law that limits their salary if they have a lot of money.
0

ElvensilvanDec. 29, 2011 - 03:54PM JST

Mabo, the basic salary of the government officials is usually limited ans small ... but the fringe benefits, that's another story (and accounting book) for that matter.

OCCUPY THE WHITE HOUSE!

If that fails, well, Washington Monument would be a good alternative.
0

YardleyDec. 30, 2011 - 02:45AM JST

You have got a Congress which is preoccupied with three things, with regulation of industries; they are preoccupied with taxes and they are preoccupied with the federal budget. Any one of those things can have an absolutely profound impact on stock price.

They know about them before anyone else does and that certainly leaves them in a position that they can take advantage.

Isn't this called "insider trading"? Don't people go to jail for that? Why aren't there more investigations and prosecutions?

But that also gives rise to suspicious that the game might be rigged: That is the underlying ethical question. When they do cast a vote are they casting it for their constituents, or are they casting on behalf of their portfolio? Unless you look in their head, there is no way of knowing.

Quis custodiet ipsos custodes?

We don't have to look into their heads; we know they are doing it for themselves.
1

Heinrich CurtisDec. 30, 2011 - 05:02AM JST

Yardley, members of Congress are not subject to insider-trading laws. Recently, a couple congresspeople have introduced bills that WOULD make them liable to insider-trading rules, but somehow my crystal ball says those bills will quitely die in the lawmaking process.
0

YardleyDec. 30, 2011 - 08:30AM JST

@Heinrich Curtis

Thanks for that info. It's shameful that this situation exists. If I thought it would do any good, I'd write to my Senators and Congressman in support of those bills you mentioned. Why should they be above the law? But, I suppose I'm just naive. They are above the law in other ways, too, and they already have access to health care and other services that the average citizen can only dream of. Forget Occupy Wall Street, Occupy the Capitol!