Those Anti-Big Business Millionaires

Filed Under Big Ideas, Domestic Politics, Politics, Porchy

SB7 quotes the following to make his point (or more precisely, let’s the point make itself since it’s a recurring theme on his blog)

Factoids of the day:

1. 54% of Congressmen are millionaires.

2. Consistent with the ‘limosine liberals’ stereotype, eight out of the ten richest are Democrats.

I would like to add my own, lesser point: Can we please recognize that the financial make-up of Congress virtually guarantees that nobody is out to pass “anti-business laws?” I mean, sure, it’s possible that these guys who’ve found a way to earn/inherit millions of dollars are actively working against their own self-interests, but isn’t that just a bit naive? The truth is that Republicans and Democrats are each beholden to their own set of business interests. Legislation that appears anti-business on the surface really just helps out some other group.

And since I’ve linked to SB7 I would like to quickly add, I’m not saying that laws don’t end up having anti-business consequences, just that that is not the point.

SB7: Here

Factoid: Here


Comments

2 Responses to “Those Anti-Big Business Millionaires”

  1. J on November 30th, 2009 12:06 pm

    Consider this: What does the stock portfolio look like for these reps? While I think there are some rules regarding trading, most of them will likely retire and thus be free of these rules. Talk about incentives!

  2. SB7 on November 30th, 2009 1:32 pm

    I saw somewhere a study of the portfolios of congressmen, and even while they were in office they had return way in excess of average.