Millionaire politicians

[jakesteele]

It has always seemed to me that there are a surprising number of politicians that are millionaires. I have always wondered how many were millionaires before they took office and how many became millionaires after they got into office.

Does anyone have any idea how many politicians in general are able to turn their election into a personal financial gain.

[Travis]

It has always seemed to me that there are a surprising number of politicians that are millionaires. I have always wondered how many were millionaires before they took office and how many became millionaires after they got into office.

Does anyone have any idea how many politicians in general are able to turn their election into a personal financial gain.

Why is that surprising? It makes sense to me that a person who is successful at one thing might try to also be successful at something else.

[TragicMonkey]

It makes sense to me that only people who have the financial resources so they don't have to actually work for a living any more would have the leisure to run for office. (And that people who don't actually have to work for a living are generally out of touch with the majority of regular people, and that's one of the reasons politicians are so crazy.)

[Beerina]

Ok, those are the popular theories. Now how about the historical reason for acquiring power: power, and its corollary: wealth.

[Björn Toulouse]

It has always seemed to me that there are a surprising number of politicians that are millionaires. I have always wondered how many were millionaires before they took office and how many became millionaires after they got into office.

Does anyone have any idea how many politicians in general are able to turn their election into a personal financial gain.



Why is that surprising? It makes sense to me that a person who is successful at one thing might try to also be successful at something else.


Both Bushes, all Kennedys, and Gore come to mind first as children of very wealthy parents. The Clintons and Gingrich have parlayed their celebrity into wealth by either writing books and/or traveling the lecture circuit.

The Bushes and Kennedys were only successful at having been born into the right families. Gore is half and half. The Clintons and Gingrich figured out how to make a buck off of the American populace.

The Clintons and Gingrich are the personally successful entrepreneurs because they knew their audience.

I'm sure there are others.

This why I am all for no government retirement programs for elected officials. If they are worth their salt, they will find a way to make a buck after they leave office just like a talented sports figure makes money on the side through commercial endorsements.

[TheChadd]

This why I am all for no government retirement programs for elected officials. If they are worth their salt, they will find a way to make a buck after they leave office just like a talented sports figure makes money on the side through commercial endorsements.

I guess someone who disagrees with you would say that what they fear is that they will then "find a way to make a buck" in other ways, i.e. That without a retirement program there will be a higher likelihood of corruption, thus it's worth it...

But I cannot think of any figures I could use to argue for/against this proposition.

[Lurker]

This why I am all for no government retirement programs for elected officials. If they are worth their salt, they will find a way to make a buck after they leave office just like a talented sports figure makes money on the side through commercial endorsements.

Hmm, I am not sure I am mentally prepared to see Bush on TV endorsing Hooked on Phonics or Clinton shilling for Shout.

My opinion is politicans are just like us and deserve retirement pay just as we do. In many ways their jobs is harder than ours.

As for the OP, many are fairly well off to start with and that is understandable. I mean, who can afford to not be paid while they campaign for office? It is a huge risk to run and if they lose they need to find a job. I would imagine erstwhile Senators, Governors and Presidents especially feel this as the campaign costs more in time and money than a simple Congressional run. Thus, I would expect more wealthy people in the halls of the Senate than the House.

I would say politicans can parlay their political success into pay generally after they retire from service. Books, lobbyist, thinktank and TV positions await for the successful politican. Hey, that is fine with me.