April 7, 201412 yr No they shouldn't but to complain that your under paid at $174K is beyond ridiculous. For what they do and the perks they get, yes they should do it for free. I mean are they doing it for the money and if so they are doing it for the wrong reasons. Most of these workers are already rich. I will do it for free and do a better job than 99% of them.
April 7, 201412 yr I don't feel sorry for them However, it seems many politicians do not take the job for the pay, it is all the other perks...connections, paid engagements, PAC money, book deals (Obama!) even payola that is much more financially interesting for them. IMO it is these latter methods of compensation that are a much greater threat to our system than a pay raise. I say, raise their pay and then require them to divest of other holdings which can create conflicts of interest. Then we won't only get rich, well off, candidates, we get people who are passionate and committed to the position.
April 7, 201412 yr Salary is one thing. Its the 'long term' benefits that make the job so lucrative. If they want raise on pure salary then make them give up any structured 'retirement plan' and go to 401K like most private company employees. 1 for 1 401k match up to 10% of their salary. Lets see how long they stick around in expensive DC if they do not get lavish retirement benefits for 'long timers'.
April 7, 201412 yr QUESTION: How many terms does a congressman have to serve before becoming eligible for a lifetime pension?
April 8, 201412 yr QUESTION: How many terms does a congressman have to serve before becoming eligible for a lifetime pension? I believe it's 5 years. They can't draw it until retirement age and can't draw while collecting a fed salary.
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