Did you ever wonder how the politicians who profess to be opposed to a rigged system, or the crooks on Wall Street or banks made their millions? Well, some inherited it, but most (or their spouses) earned it by running businesses, investing in real estate or stock and bonds and most did it over many years. They also took full advantage of every provision of the IRC. Funny how that works isn’t it? A rigged, failed system actually works if you work to make it work.
Old Liz Warren who hates banks and Wall Street (look into her family history and you will learn why), has an estimated net worth of $4.46 million actually quite modest by comparison to some of her peers. Poor old Bernie Sanders on the other hand is down at less than $200,000 along with Chuck Schumer and Sherrod Brown according to Roll Call estimates based on congressional reporting.
But these guys aren’t as bad off as the 123 Members who owe more than they hold in assets, this group by the way is dominated by minorities and women. Who would have thunk it? So now we come to inequality and what to do about it.
I say we experiment with fixing inequality by starting with Congress. We ignore how assets were accumulated, we ignore risks taken, we ignore creativity and innovation and hard work and we just make sure all members of congress get their fair share.
It’s quite easy, we simply total the net worth for all Members and divide that by the number of Representatives and Senators to come up with an average. If you fall below the average, you get more, if above you give more. Nancy Pelosi gives Maxine Waters $750,000 and Old Liz Warren gives Old Bernie $200,000. There will be some unhappy Republicans too. Darrell Issa who invented the Viper car alarm and is the richest Member is going to have to help a lot of his colleagues as is John Delaney the richest Democrat. But hey, fair is fair right?
So, what do you think? Can we solve inequality one hypocrite at a time?
I spoke to many in Congress about this idea and it was met with some skepticism. Old Bernie Sanders said he preferred to accept “free” government programs rather than a handout 🤔 Pelosi mumbled something about retirement and Maxine Waters just mumbled and asked me what I thought about her running for President. Liz Warren was very enthusiastic as she figured out she came out ahead by $1.25.
What have we got to lose? Let’s fix inequality and let it begin with … them.