We often hear those running for office of their meager beginnings. I’m reminded of Steve Martin’s movie “The Jerk” who intoned at the beginning, “It was never easy for me. I was born a poor black child.” So how is it that many politicians end up being in the often vilified “1%”?
While Congressman/woman make a decent salary, the cost of living in DC is high. They also maintain home district residences so it’s hard to see how their salary alone gets them to the 1% group. It appears that book sales and speaking engagements are the path to amassing wealth. Once there, foundations allow them to keep what they made and pass it along to their heirs.
You would think some investigative reporter would be on this path of poor to rich that so many politicians seem to walk. Harry Reid had some land deal in Nevada, Clinton’s Whitewater, Bernie and now the Biden’s book deals thrust them into the 1% group from meager beginnings. Who is buying all those books? Who is paying six figures for giving a 45-minute speech? Is this a back door way of gaining influence with these people who hold the power to make significant impacts on their lives?
Once they have the money, creating a “charitable” foundation that manages the money is in vogue. The Clinton’s have amassed tens of millions from both domestic sources and foreign governments in their foundation. They use that tax advantaged foundation to pay themselves, their family and those loyal to them hefty salaries. Why isn’t someone looking at these foundations to see if they are in fact, using tax advantages to shelter ill-gained money?
Now that the canard of looking at Trump’s hotel for breaking the emoluments clause is over, perhaps someone will look at how other politicians go from “poor me” to rich.
Current Day Publius 