
How Do Politicians Keep Getting So Rich?
Description :-
Want to make videos like mine? Check out Storyblocks! Get started today at https://storyblocks.com/secondthought
How Do Politicians Keep Getting So Rich? – Second Thought
SUBSCRIBE HERE: http://bit.ly/2nFsvTS
New video every Friday!
Citations and Further Reading:
Average American salary
https://www.ssa.gov/oact/cola/AWI.html
0.1% of Americans by wealth
https://economics.princeton.edu/working-papers/top-wealth-in-america-new-estimates-and-implications-for-taxing-the-rich/
Wealth increases in congress
https://www.opensecrets.org/personal-finances
Majority of lawmakers are millionaires
https://www.opensecrets.org/news/2020/04/majority-of-lawmakers-millionaires/
Pelosi net worth
https://www.opensecrets.org/personal-finances/nancy-pelosi/net-worth?cid=N00007360&year=2018
Pelosi investments and returns
https://jacobin.com/2021/12/house-speaker-paul-stocks-insider-trading-wealth
https://www.nerdwallet.com/article/investing/average-stock-market-return
Pelosi says no
https://twitter.com/ABCPolitics/status/1471222077688532997?s=20
Richard Burr’s pandemic article
https://www.foxnews.com/opinion/coronavirus-prevention-steps-the-u-s-government-is-taking-to-protect-you-sen-alexander-and-sen-burr
Burr’s stock dump
https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness
Stock dump investigations closed
https://www.npr.org/2020/05/26/862692569/justice-department-closes-investigations-of-3-senators-burr-inquiry-continues https://www.npr.org/2021/01/19/958622574/doj-drops-insider-trading-investigation-into-sen-richard-burr
Business insider investigation into insider trading
https://www.businessinsider.com/congress-staff-violated-stock-act-conflicts-of-interest-possible-2021-12
Studies on congress stock returns
https://www.researchgate.net/publication/227378283_Abnormal_Returns_From_the_Common_Stock_Investments_of_Members_of_the_US_House_of_Representatives
2017 Public Citizen report
https://www.citizen.org/wp-content/uploads/migration/case_documents/2017_stock_act_report.pdf
$3.7 spent on lobbying
https://www.opensecrets.org/federal-lobbying
Top spenders
https://www.opensecrets.org/federal-lobbying/top-spenders
https://www.opensecrets.org/federal-lobbying/business-labor-ideological
Nancy Pelosi $180,000 in lobbying
https://www.opensecrets.org/federal-lobbying/top-recipients-details?cycle=2020&id=N00007360
$1 lobbied = $760 return
https://sunlightfoundation.com/2014/11/17/fixed-fortunes-biggest-corporate-political-interests-spend-billions-get-trillions/
⅔ of politicians go into lobbying
https://www.citizen.org/news/revolving-door-class-of-2019-nearly-two-thirds-of-former-lawmakers-with-jobs-outside-politics-land-in-influence-business/
Lawmakers get pay raise for going into lobbying
https://www.thenation.com/article/archive/when-congressman-becomes-lobbyist-he-gets-1452-percent-raise-average/
Nancy and Paul Pelosi Visa lobbying/investment
https://www.reuters.com/article/us-usa-congress-insidertrading/house-insider-trading-bill-takes-dig-at-pelosi-idUSTRE81700720120208 https://www.cbsnews.com/news/new-details-on-visas-attempt-to-influence-pelosi/ https://www.investors.com/politics/editorials/pelosi-corzine-visa-scandal/
Lobbying
https://youtu.be/FZVfTCBUkgM
Revolving door
https://www.opensecrets.org/revolving/
Insider Trading
https://youtu.be/TdYqE60-8E8
Being wealthy going in
https://www.cbsnews.com/news/why-is-congress-a-millionaires-club/
Follow and Support Second Thought!
Twitter: https://twitter.com/_SecondThought
Patreon: https://patreon.com/secondthought
BuyMeACoffee: https://www.buymeacoffee.com/secondthought
CashApp: $JTChapman
Watch More Second Thought:
Latest Uploads: https://www.youtube.com/playlist?list=PL6SJktA-ecJR_Fq2hhYVEFS11cf1YzG27
Spaaaaaace!: https://www.youtube.com/playlist?list=PL6SJktA-ecJQRpqT-hMTTFx8A6VVH3m6v
What If...: https://www.youtube.com/playlist?list=PL6SJktA-ecJRI7VrWf_-mT0z6lrN--Cvi
Popular Videos: https://www.youtube.com/playlist?list=PL6SJktA-ecJRx7ZaO9J04Kbob_u5baHxN
About Second Thought:
Second Thought is a channel devoted to education and analysis of current events from a Leftist perspective. Welcome!
Business Email: secondthoughtchannel@gmail.com