Lucille
09-23-2014, 12:23 PM
Public "servants." LOL
http://www.zerohedge.com/news/2014-09-23/americas-politicians-earn-608-hour
On the surface, earning $174,000 per year, while putting one solidly in the top 10% of all US earners, does not sound like much. This happens to be the 2014 allocated wage of America's elected political representatives, the members of the House of Representatives. And indeed, in the grand scheme of things it isn't much... until one considers that in the 102-day period between August 1 and November 12, this wage will be "earned" for just working a paltry 8 days, which, presuming 10 hour workdays, amounts to a whopping $608 per hour, on par with what some of America's most prominent lawyers earn. It is also several times the hourly compensation of anesthesiologists, one of the highest-earning professions, according to the Bureau of Labor Statistics, at $113 an hour on average.
According to The Hill, liberal activist Ralph Nader worked out the eye-popping calculation in an angry letter he sent to Speaker John Boehner (R-Ohio) on Monday. From The Hill:
[...]
And while it is easy to be furious with America's worthless landed political class - whose only contribution to society is being voted out or resigning - a logical question arises - why should the House, or the Senate, or even the President for that matter, work any hours in a world in which all the heavy lifting, or any lifting, is borne by the monetary authority, i.e., the Fed, which makes sure nobody in power has to make any decisions ever again just by pressing CTRL-P a few billion times every day.
Finally, while we are amused by the naive thinking that members of the House earn "only" $174,000 per year or however much per hour, it is not their wages that make most members of Congress millionaires. In fact, as the following chart shows, the 50 richest members of Congress all have a net worth of $7.5 million or higher!
[...]
They did not earn this money by collecting a paltry salary. Instead, they made it through kickbacks, bribes, and other "lobbying" funds. All of which, of course, are perfectly legal in the circus that passes for US government.
It is that which should be the target of public ire, not how much Congressmen make on an hourly basis. Because when one factors in all the undisclosed sources of funds, it is then that one would get a per hour number that would rival some of the best paid hedge fund managers in the US.
http://www.zerohedge.com/news/2014-09-23/americas-politicians-earn-608-hour
On the surface, earning $174,000 per year, while putting one solidly in the top 10% of all US earners, does not sound like much. This happens to be the 2014 allocated wage of America's elected political representatives, the members of the House of Representatives. And indeed, in the grand scheme of things it isn't much... until one considers that in the 102-day period between August 1 and November 12, this wage will be "earned" for just working a paltry 8 days, which, presuming 10 hour workdays, amounts to a whopping $608 per hour, on par with what some of America's most prominent lawyers earn. It is also several times the hourly compensation of anesthesiologists, one of the highest-earning professions, according to the Bureau of Labor Statistics, at $113 an hour on average.
According to The Hill, liberal activist Ralph Nader worked out the eye-popping calculation in an angry letter he sent to Speaker John Boehner (R-Ohio) on Monday. From The Hill:
[...]
And while it is easy to be furious with America's worthless landed political class - whose only contribution to society is being voted out or resigning - a logical question arises - why should the House, or the Senate, or even the President for that matter, work any hours in a world in which all the heavy lifting, or any lifting, is borne by the monetary authority, i.e., the Fed, which makes sure nobody in power has to make any decisions ever again just by pressing CTRL-P a few billion times every day.
Finally, while we are amused by the naive thinking that members of the House earn "only" $174,000 per year or however much per hour, it is not their wages that make most members of Congress millionaires. In fact, as the following chart shows, the 50 richest members of Congress all have a net worth of $7.5 million or higher!
[...]
They did not earn this money by collecting a paltry salary. Instead, they made it through kickbacks, bribes, and other "lobbying" funds. All of which, of course, are perfectly legal in the circus that passes for US government.
It is that which should be the target of public ire, not how much Congressmen make on an hourly basis. Because when one factors in all the undisclosed sources of funds, it is then that one would get a per hour number that would rival some of the best paid hedge fund managers in the US.