The Great Scam: America’s Richest Politicians Get Richer As Democrat, Republican Wealth Converges
by Tyler Durden
It will, or should, come as no surprise that as a result of the Great Financial Crisis, just as in real life, so in D.C., the wealthiest politicians have gotten wealthier: in fact at least 72 politicos have doubled their wealth in the past 5 years. It will, or should, also come as no surprise, that as a result of the GFC, the average wealth of Republicans (which declined) and Democrats (which rose) has converged, confirming that at least when it comes to the economic disparity between America’s two big parties, there is no longer any difference. At least these are the findings of a recent WaPo study looking at how America’s lawmakers have benefited from the laws they themselves institute. In other words, while America’s laws may be designed for its people, those who actually benefit from this country’s fiscal (and of course monetary) policy is just one group: those who continue to transfer wealth from what little is left of the middle class and into their own, mostly offshore, bank accounts. From the WaPo: “You would find that, contrary to many popular perceptions, lawmakers don’t get rich by merely being in Congress. Rich people who go to Congress, though, keep getting richer while they’re there.” We are fairly confident that there were no “popular perceptions” that anyone goes to Congress to get wealthy. Congress, and certainly the Senate, are merely vehicles to allow those with power and money to simply perpetuate a status quo that benefits the 1% and takes, what little is left, from everyone else. And sadly, this theft transcends political lines and ideological colors. In short: everyone is doing it, even as America continues to delude itself there is an option. There is none.