The officials’ median assets increased an estimated 270% over four years. By comparison, total household assets increased 38% nationwide from 2017 to 2021, according to data published by the Federal Reserve. The S&P 500 went up 70% over the same period. The figures highlight why it’s so tempting for public officials to leverage their government experience for private gain. “This shows what the revolving door is all about,” says Craig Holman of Public Citizen, a left-leaning think tank that advocates for corporate accountability and lobbying reform. “People swing through the revolving door to enhance their personal wealth.”
I think this story is a good reminder that it isn’t necessarily left vs. right, it’s the people vs. the elites. The elites will use the left or the right to achieve their means, but ultimately it’s always going to be in opposition to the people.
No wonder “populism” is such a dirty word among them.
Absolutely. That is why so many of the wealthiest zip codes in America are in and around Washington DC - where our “Public Servants” live much better then the people they serve.