FILTHY RICH POLITICIANS
Matt K. Lewis
When the US became a nation, the background of the elected officials was very simple: the white men were young, had businesses (primarily farms) to run, served for limited periods of time, had incomes resembling those of their neighbors, and those who elected them. They also didn’t spend a lot of money on campaigning. Things have certainly changed since then.
Today, the membership are older, many by several decades. Instead of serving for only a few terms, many members of Congress have turned the job into a full-time career, spending a lot of time raising money, making a lot of money, and losing touch with their constituents.
In FILTHY RICH POLITICIANS, Matt K. Lewis explores the many ways that politicians (both Democratic and Republican) have used the system to enrich themselves and, often, their families. It is well-written and annotated. Readers can recognize the examples, some rather surprising. It is easy, and sometimes funny, to read. Being aware of and using the information should create more informed voters as well as more responsible politicians.
Nepotism is rampant with many hiring family members or passing on information. In some cases, family members use the politician’s name for their own benefit when people believe, not always with the politician’s permission, that they have the ability to influence policy or increase their businesses. Donald Trump put his daughter Ivanka and son-in-law Jared in high administrative positions and John F. Kennedy named his brother Robert Attorney General.
While many of them had been in Congress for many years, one newcomer, Ilhan Omar, elected in 2020, paid $1.6 to E Street Group LLC, her husband’s consulting firm, from 2019-July 2020. She spent an additional $1.1 million in the third quarter and $27,000 in the following weeks. That $1.1 million constituted nearly 70% of the $1.6 million that Omar's campaign spent that quarter. Her campaign was the E Street Group's biggest moneymaker. They were married in March 2020.
He explores how their personal wealth increases while they are in office. Insider trading is just one of the methods. (Martha Stewart went to jail for it. Politicians get wealthier.) Lewis compares politicians with Major League Baseball where players and managers have been severely punished for betting on a game, even for their own team. (Pete Rose is a prime example.)
Lewis delves into their lifestyles, which expand the reach of their ability to get more money. In many cases, they have attended Ivy League colleges which creates a mind set that differs from the general US population.
Another advantage they have is that when they leave their elected positions, they are able to use their connections to fine more lucrative sources of income via lobbying, book sales, and speeches.
The amount of money a person has to raises to run a campaign can be astronomical and is getting higher, especially since the Citizens’ United restriction was overturned by the Supreme Court. In the House, it could be several hundreds of thousands of dollars the first quarter. They launch their campaign–from their personal network–before anyone else will invest.”
FILTHY RICH POLITICIANS ends with a list of possible solutions to end these advantages as well as lists of the riches members of Congress and US Presidents.
The US’s founders knew what happened in other countries and at other times to prevent the corruption here. One example was the reasons for the fall of the Roman Empire. Many of those ideas, end nepotism, ban stock trading, pay Congress more, end double-dipping, require blind trusts, increase transparency, enact term limits, prevent the revolving door, treat books like speeches, and make tax-rules fair.
One major one is to end Pensions for Presidents. That practice began in 1958 because when Harry Truman left the White House, his personal financial situation was quite low. Congress decided to provide a $25,000 (almost twice his income and assets) as a pension plus administrative support. That annual amount has exploded and reaches millions a dollars a year because of increasing support, including Secret Service protection. Since so many Presidents are millionaires before taking office, they don’t need additional tax payer support.
People want their leaders to understand and work to help them. Understanding why the financial gap between them exists and how it leads to people distrusting the politicians should lead us to remove those barriers.
FILTHY RICH POLITICIANS is a comprehensive, maddening, well-written, easy-to-understand explanation of money on politicians. Lewis’s suggestions for how to change and improve the system are useful and practical.