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Started By
Message
Mike Johnson Argues Congress Needs Stock Trading to 'Support Their Families'
Posted on 5/14/25 at 6:20 pm
Posted on 5/14/25 at 6:20 pm
LINK
quote:
House Speaker Mike Johnson defended stock trading as a necessary income boost that allows members of Congress to "take care of their family."
Johnson noted that Congressional salaries have been frozen since 2009 while speaking to press on Wednesday. "When you adjust for inflation...Congress today is making 31% less than they made in that year. It goes down every year," he said.
quote:
"If you stay on this trajectory, you're going to have less qualified people who are willing to make the extreme sacrifice to run for Congress," Johnson warned. "At least let them, like, engage in some stock trading so that they can continue to take care of their family."
The practice of Congress members engaging in stock trading has come under a renewed scrutiny following Trump's announcement of sweeping tariffs placed on trade partners around the globe. Many of the tariffs have since been renegotiated, with the market reacting to news of administrative policy changes.
86
Posted on 5/14/25 at 6:20 pm to Major Dutch Schaefer
It isn't supposed to be a fricking career, Mike.
Posted on 5/14/25 at 6:20 pm to Major Dutch Schaefer
This fricking tool
Posted on 5/14/25 at 6:21 pm to Major Dutch Schaefer
But yet their net worth increases each year. Funny how that is……
Posted on 5/14/25 at 6:21 pm to DIGGY
You know what else will fix this issue, Mike?
Term limits.
Term limits.
Posted on 5/14/25 at 6:22 pm to Major Dutch Schaefer
Such a weird argument. Is he admitting that insider trading with impunity is a necessary perk of the job???
Posted on 5/14/25 at 6:22 pm to Major Dutch Schaefer
Yo.
Wtf
Wtf
Posted on 5/14/25 at 6:23 pm to Major Dutch Schaefer
Let these corrupt politicians just invest in index and mutual funds and ban them from buying individual stocks.
Posted on 5/14/25 at 6:23 pm to Major Dutch Schaefer
Sounds like something the Bee would put out there.
Posted on 5/14/25 at 6:24 pm to Major Dutch Schaefer
He's right though.
Businessman, successful investors, or whomever would be decent politicians are not going to get rid of their successful businesses because it would be a conflict of interest, they just wont run for office.
That goes for Executive branch and Congress...
Businessman, successful investors, or whomever would be decent politicians are not going to get rid of their successful businesses because it would be a conflict of interest, they just wont run for office.
That goes for Executive branch and Congress...
Posted on 5/14/25 at 6:26 pm to RelicBatches86
quote:
Businessman, successful investors, or whomever would be decent politicians are not going to get rid of their successful businesses because it would be a conflict of interest, they just wont run for office.
That goes for Executive branch and Congress...
Meh. We've strayed far from what our early leaders believed was duty to their nation by actual SERVICE to its people. Being a career politician shouldn't be a goal for anyone.
Posted on 5/14/25 at 6:27 pm to Major Dutch Schaefer
What a fricking a-hole! Real sacrifice. Sure.
Posted on 5/14/25 at 6:27 pm to Major Dutch Schaefer
Mike is a Mitch.
Posted on 5/14/25 at 6:27 pm to Major Dutch Schaefer
Congress pay is a lot more than the average American makes. If they need to do insider trading to take care of their families then what about the rest of us?
Posted on 5/14/25 at 6:29 pm to Major Dutch Schaefer
Well I'd argue those positions were never intended to be financially beneficial.. in fact originally it often meant you lost wealth not gained it. Politician was never meant to be a career
This post was edited on 5/14/25 at 6:30 pm
Posted on 5/14/25 at 6:30 pm to Major Dutch Schaefer
The ban on individual stocks or companies doesn’t have to include mutual funds or especially index funds. All that can be spelled out, but he knows this already. Those individual stocks is where they can use their insider knowledge to make the real money. Mutual funds are too slow for them.
Posted on 5/14/25 at 6:30 pm to RelicBatches86
quote:
Businessman, successful investors, or whomever would be decent politicians are not going to get rid of their successful businesses because it would be a conflict of interest, they just wont run for office.
True. Trump was an audacious exception, but not one in a thousand could pull that off.
Another thing about running for office is most businessmen would not do it because they would have embarrassing personal information dredged up. Almost everyone with spirit is going to have something in their past - DUIs, affairs, ugly divorce - that they don’t want publicized.
Posted on 5/14/25 at 6:31 pm to Major Dutch Schaefer
And they still make over 4 times the average US income and get that salary every year for the rest of there lives as long as they finish 1 term.
Those poor public servants. If they can't insider trade then how will they make it on that amount and any bribes . . . I mean speaking fees that they get post office?
Those poor public servants. If they can't insider trade then how will they make it on that amount and any bribes . . . I mean speaking fees that they get post office?
Posted on 5/14/25 at 6:32 pm to Major Dutch Schaefer
quote:
"If you stay on this trajectory, you're going to have less qualified people who are willing to make the extreme sacrifice to run for Congress
Less qualified ? These people and their "extreme sacrifice" have made every one of them rich and put the US in 36 trillion debt.
Extreme sacrifice ? This is delusion.
This post was edited on 5/14/25 at 6:34 pm
Posted on 5/14/25 at 6:33 pm to Major Dutch Schaefer
Considering most all of em leave as multi-millionaires (regardless of how they came in), I’d say this little “perk”” more than helps “take care of the family” Mike.
And “qualified” Mike? You mean like NYC bartender type qualified?
And “qualified” Mike? You mean like NYC bartender type qualified?
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