How Politicians Make Millions Off Our Corrupt Political System, by Joseph Mercola

Hillary Clinton showed the way. Remember her cattle future trades? They have evidently served as an inspiration for many congressional day traders, who like Hillary can’t seem to lose on their trades. From Joseph Mercola at childrenshealthdefense.org:

Story at-a-glance:

  • Speaker of the House Nancy Pelosi’s wealth has increased from $41 million to nearly $115 million since 2004.
  • At issue isn’t the fact that politicians are multimillionaires — rather, as noted on a recent Twitter thread by Pulitzer Prize winning journalist Glenn Greenwald, it’s how they made their millions.
  • In the last two years, nearly 75% of Pelosi’s stock trades have involved Big Tech stocks, totaling over $33 million in trading.
  • The trading has occurred as major legislation was proposed, controlled by the Committees Pelosi oversees, that could reshape the future of the industry.
  • Pelosi’s five most-traded stocks in the last two years — Apple, Microsoft, Facebook, Amazon and Google — were those that stood to be most affected by pending legislation.
  • The system is corrupt, with most politicians not fighting for the public but, rather, looking out for their own self-interest and wealth accumulation.

Politicians receive very comfortable salaries. Speaker of the House Nancy Pelosi, for instance, earns $223,500 a year, making her the third-highest-paid elected official in the U.S. Yet, since 2004, her wealth has increased from $41 million to nearly $115 million, according to OpenSecrets, which began tracking lawmakers’ personal finances that year.

She’s not alone in her wealth. Personal financial disclosures reveal that more than half of Congress members are millionaires, with a median net worth of just over $1 million. As is often the case, however, the top 10% of the lawmakers in terms of wealth are three times richer than the bottom 90%. Pelosi comes in as number 6 on a list of the wealthiest members of the 116th Congress.

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