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A Modest Proposal

Summary:
Really modest and meant seriously (apologies to Swift). All Senators and Representatives get a full pension for their natural lives (equal to salary)They may never ever receive any money from any entity other than the Federal Government. No salary and all investments must be in Treasury securities (oh and nooo royalties – ever). No revolving door, no financial interests other than avoiding US Treasury default on salary, pension, interest and face value.So non rich interested make the salary something not as absurdly low as it is. The cost of raising it to million/year is trivial compared to the cost of some (not all probably not most) legislators thinking about post congressional employment and how the lobbyists currently begging for their

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Really modest and meant seriously (apologies to Swift).

  1. All Senators and Representatives get a full pension for their natural lives (equal to salary)
  2. They may never ever receive any money from any entity other than the Federal Government. No salary and all investments must be in Treasury securities (oh and nooo royalties – ever). No revolving door, no financial interests other than avoiding US Treasury default on salary, pension, interest and face value.
  3. So non rich interested make the salary something not as absurdly low as it is. The cost of raising it to $1 million/year is trivial compared to the cost of some (not all probably not most) legislators thinking about post congressional employment and how the lobbyists currently begging for their attention will be the ones who decide whether to hire them if they retire or lose an election.

Less Modest.

Also political appointees to the executive branch and judges. raising salaries to $100,000 still cheap.

Robert Waldmann
Robert J. Waldmann is a Professor of Economics at Univeristy of Rome “Tor Vergata” and received his PhD in Economics from Harvard University. Robert runs his personal blog and is an active contributor to Angrybear.

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