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Insider trading seems to be rampant among public officials, with little to no repercussions, while regular citizens face jail time for the same offense.
corruption
Four Words: insider trading and bribes.
Lobbyists.
By focusing on their needs instead of their constituents needs.
The problem isn’t limited to one party or the other; it’s the system that allows—and sometimes even encourages—this kind of behavior. Public office has become a path to wealth through “legal loopholes” and connections that are unavailable to the average citizen. Real change would require a bipartisan commitment to transparency and campaign finance reform, something we unfortunately see little of amidst the political theater.
Spouse, inheritance, investing, book deals, speaking fees, plus other illicit activities already mentioned.
Insider trading, corporate lobby, and high high levels of corruption.
The easiest way to become a millionaire is to become a representative
This depends on where you are talking about.
Being a successful politician opens the door for both other legitimate work (writing or speaking fees mostly), corruption, and in the US federally sometimes insider trading. Many politicians can also partially retain their old jobs while doing politics. Especially when that job can be done part time.
But it also means you get to spend time going to parties with rich people. And so you have marriage opportunities well outside your apparent income.
Besides that, many people who go into politics go in with some sort of local celebrity and wealth already.
Corruption. Bribery. Insider trading. Embezzlement.
They go without Starbucks or avocado toast and have extra strength boot straps, with which they pull themselves up..
Crony capitalism and/or money laundering. Read a book called confessions of an economic hitman. There is a video on you tube video” Machiavelli- the art of power in the modern world”. Everyone should watch. Remember the most potent weapon of an oppressor is the minds of the oppressed. Cantillon effect, the more they print fiat currency to buy votes, the more wealth gap is created and tangible assets that can not be printed becomes more out of reach for the common man. The game is known by some, but not all. Also read a book called the creature from Jekyll island. Learn the game or get destroyed by it.
Corruption
I work for the government but I’m not a politician, I’m just a GS-13, and I make north of $100K. I’ll retire with a few million just by maxing my TSP and having other investments from living frugally. Lots of people in the government make more than I do, and started younger than I did, so it’s not implausible for them to have several times more.
The secret ingredient is crime
The secret ingredient is crime
Most had lucrative white-collar careers before entering politics. Same for their spouses. Most are older, which means it has been easier for them to amass wealth over their lifetime. Some come from generational wealth.
Also insider trading.
The “honest” answer is speaking fees and book deals.
The “unethical” answer is insider trading.
the key is crime
Most people are forgetting these politicians come from well off families. It’s not Bob down the road getting into congress. You need money to get into politics. Don’t believe me? Trying running for local office. To get to the highest levels, you need a lot of money and connections that can only come from running in upper class circles your whole life. By the time these people reach their 50s and 60s they’ve almost certainly made well over a million dollars.
lots of politicans work as consultants and/or were already wealthy before they were politcans.
A lot of the politicians i see tend to have been in a good situation before they became politicians, they also tend to be career politicians. They also tend to decide themselves what their salary and benefits are, very often they grant themselves free or highly subsidized place to live in the capital city, effectively having an above average salary and no need to actually spend it.
Corruption.
Cheating the system. That is the only answer assuming no other income, inheritance or riches from a partner.
One word corruption, from inside information, to endorsements, look at Boerbert she was bankrupt twice and now has multi millions since being in politics and she didn’t earn that from her salary
Insider trading, paid vacations, bribery
Speaking/Book deals….
Insider trading, which is legal for them.
Lobbying, kickbacks
Corruption
Insider trading and bribes
One thing to keep in mind is that running for a lot of public offices is expensive. Most of them are already set up with fortunes from investments, ownership of some company, or the circumstances of their birth. Generally, once you have wealth, it’s significantly easier to gain wealth.
Then when they are in office, they still are investing or running their company. Also many get paid through other means like book deals or speaking fees.
This also isn’t anything that’s exclusive to either side of politics either.
The secret ingredient is crime.