Rank-and-file members of both the House and Senate are paid $174,000 a year.
That probably seems like a decent amount of money, and it is: The median household income in 2022 was $74,580, according to the US Census.
But consider that members of Congress generally have to maintain two residences — one in Washington, DC, and one in their home state — and that they haven’t gotten a raise since 2009.
Inflation, meanwhile, has eaten away at the value of that salary over time: If lawmakers’ salaries had kept pace with inflation, they would be paid over $250,000 today.
Rep. Patrick McHenry, a North Carolina Republican who served as the interim speaker of the House following Kevin McCarthy’s ouster, told The Dispatch that congressional pay needed to be raised in order to attract “credible people to run for office.”
Isn’t a fair bit of that graft and/or insider trading?
Yeah. After all, bribes are legal in Washington as long as you don’t say out loud what they’re for. And insider trading is hardly contained, politicians who have no prior experience with stocks suddenly consistently outperforming the market.
There’s even a Nancy Pelosi stock tracker for you to profit (less than her since she doesn’t have to announce in real time) on the insider trading of her and her husband!
In Washington, the corruption is not just overlooked, it’s written into the rules and demanded by party leaders 🤬