To be fair, the lowest salary in Congress is $174,000 putting 100% of congresspersons in the upper 6% regardless of their wealth or lack thereof before being elected. 20% of Americans are upper class with a median household income of $200,000. I do not think there was ever a time when members of congress were not wealthy compared to al…
To be fair, the lowest salary in Congress is $174,000 putting 100% of congresspersons in the upper 6% regardless of their wealth or lack thereof before being elected. 20% of Americans are upper class with a median household income of $200,000. I do not think there was ever a time when members of congress were not wealthy compared to all Americans.
One hundred years ago, America faced a similar period of wealth disparity. Partially the Great Depression, but also the aggressive action of government against monopolies, brought it under control. We are in a similar situation where mergers have created effective monopolies in almost every good or service we purchase. The baby formula crisis may well be the trigger that motivates Congress to break up these monopolies and encourage healthy redundancies in the economy.
To be fair, the lowest salary in Congress is $174,000 putting 100% of congresspersons in the upper 6% regardless of their wealth or lack thereof before being elected. 20% of Americans are upper class with a median household income of $200,000. I do not think there was ever a time when members of congress were not wealthy compared to all Americans.
One hundred years ago, America faced a similar period of wealth disparity. Partially the Great Depression, but also the aggressive action of government against monopolies, brought it under control. We are in a similar situation where mergers have created effective monopolies in almost every good or service we purchase. The baby formula crisis may well be the trigger that motivates Congress to break up these monopolies and encourage healthy redundancies in the economy.
Re: baby formula crisis, you may very well be right.