How would you feel knowing that your taxes contributed to elevator operators who hit buttons and hold doors for congresspersons? What if you knew that expense totaled to ten million dollars in five years (Forbes Magazine)? These are the kind of incentives that keep a congressman cooped in their office for decades. It’s an obvious no-brainer that few individuals would work the same job for their entire career if there weren’t a litany of benefits; here are some interesting perks of being a member of Congress that will shock you!
One of the many perks of being in congress is the ability to make business trips all over the world. In a New York Times interview, Indiana Representative Larry Bucshon expressed, “When you’re sitting across from the Prime Minister of Japan, that’s pretty cool.” Maryland Rep. John Sarbanes adds, “You’re talking to experts who are shaping our future, and you get to talk to four or five of them in a single day.” Imagine being able to get the first look at new research and developing technology; it’s the equivalent of brushing aside the partition for what the world will look like, and it’s an exciting privilege to be privy and actively involved in that research.
Many members of congress argue that their salaries aren’t high enough to compensate for commuting between the capital and their primary home, but it’s undeniable that they make a significant amount of money in comparison to the average American. According to openthebooks.com, the average salary of a Congressman is $174,000; Speakers of the house earn approximately $233,000, and the President Pro Tempore, plus the majority and minority leaders, earn approximately $193,000- whereas the salary for the average American is $63,795, as reported by ssa.gov.
It’s also important to bear in mind that states like California and New York have a higher cost of living, so many individuals raise this average by making more, but that doesn’t necessarily equate to a higher quality of life. For instance, a $10 bill will likely lend itself to a greater value of items in Georgia than in New York; therefore, a salary of $40,000 in Georgia and $60,000 in New York would lend itself to the same lifestyle. Fundamentally, while many congressmen claim their salary is insufficient for two residences, more and more Americans struggle to stay financially afloat in one residence with day to day expenses nationwide.
There’s an underlying expectation that Congressmen have health insurance, but few know they receive a federal subsidy that covers approximately 72% of premiums (axios.com). Additionally, while it’s contingent on age and length of service, members of congress can receive a pension worth 80% of their salary, which would equal approximately $139,200 (investopedia). In ten years, that pension would equal almost $1.5 million. There is no catch, no stipulations, no fine lines- this is all in addition to their social security or retirement plan equivalent. For the average American, their pension is approximately $2,301 a month; in ten years, that would amount to $276,170- less than 20% of the congressional pension in comparison (unbiased.com).
For most individuals, being successful in the stock market is like trying to hit a small piñata. While a person can have an idea of where it is (their faculty), ultimately, whether their swing connects with the “piñata” or not is largely dependent on luck; at least, that’s how it’s supposed to be. Many members of Congress use their insider knowledge to earn themselves small fortunes, typically when the stock is about to decrease in value.
An example, when the U.S. Senate Commerce Committee released an indenture regarding the danger and safety concerns of Boeing’s 737 MAX planes, as they were responsible for the death of 346 people overseas. The day before this report, California Senator Alan Lowenthal- a member of the committee who released this document- sold his shares in Boeing (The Daily Show Report). The nature of stocks will lend itself to be in a perpetual state of being bought and sold, but a series of coincidences can only add up to a singular pattern- an abuse of power.