People keep suggesting this without thinking it through
Many congress members are quite wealthy. They could easily go without their salary at all, for their entire tenure. These people tend to make money off stock trading (at suspiciously high rates, but that’s a different discussion), in addition to other investments and “consulting” generating revenue for them
There are, however, at least a few congress members that are not independently wealthy. Those members are actually working class and rely on their salary to live. Those people are the ones that will be squeezed without a paycheck
What do you think the end result of that will be?
The wealthy members of congress will be able to use shutdowns as a bludgeon to force the working class members to vote in line with them. The wealthy can hold out indefinitely. The working class can only hold out until rent is past-due
Long term, I’d expect to see two other knock-on effects. Working class members of congress will be heavily incentivized to start making very good stock picks to have backup income, or more outright corruption. The second effect would be a chilling effect on working class candidates even running for congress
Does that sound like a positive outcome? Are those the incentives you want in congress?
We could have both, reform for leadership performing trades AND we can stop paying them when the government shuts down. But this story was about the FAA workers who don’t get paid with stocks.
We could have both, reform for leadership performing trades AND we can stop paying them when the government shuts down
Okay, so we give a lot of power to the wealthy members of congress. It doesn’t change the fundamental calculus that your suggestion would shift power from working class members of congress to the wealthy members. Even without insider trading, many of them are multi-millionaires and will not care at all that they don’t receive their salary for a while
But this story was about the FAA workers who don’t get paid with stocks
That one has an easy solution that doesn’t involve giving more power to the wealthy: Continue paying ATC during the shutdown
A much better generalized solution would instead to be forced budget continuation. Can’t pass a bill? The old budget continues until you do
People keep suggesting this without thinking it through
Many congress members are quite wealthy. They could easily go without their salary at all, for their entire tenure. These people tend to make money off stock trading (at suspiciously high rates, but that’s a different discussion), in addition to other investments and “consulting” generating revenue for them
There are, however, at least a few congress members that are not independently wealthy. Those members are actually working class and rely on their salary to live. Those people are the ones that will be squeezed without a paycheck
What do you think the end result of that will be?
The wealthy members of congress will be able to use shutdowns as a bludgeon to force the working class members to vote in line with them. The wealthy can hold out indefinitely. The working class can only hold out until rent is past-due
Long term, I’d expect to see two other knock-on effects. Working class members of congress will be heavily incentivized to start making very good stock picks to have backup income, or more outright corruption. The second effect would be a chilling effect on working class candidates even running for congress
Does that sound like a positive outcome? Are those the incentives you want in congress?
We could have both, reform for leadership performing trades AND we can stop paying them when the government shuts down. But this story was about the FAA workers who don’t get paid with stocks.
Okay, so we give a lot of power to the wealthy members of congress. It doesn’t change the fundamental calculus that your suggestion would shift power from working class members of congress to the wealthy members. Even without insider trading, many of them are multi-millionaires and will not care at all that they don’t receive their salary for a while
That one has an easy solution that doesn’t involve giving more power to the wealthy: Continue paying ATC during the shutdown
A much better generalized solution would instead to be forced budget continuation. Can’t pass a bill? The old budget continues until you do