I've seen it firsthand, and its despicable. Firms I've worked for hire these people simply for access, and then pays them millions of dollars. For example, how does Rahm Emanuel--a person with no investment banking experience--get a job as a managing director Wasserstein Perella and pocket $16MM in three years? Here is Glenn Reynolds' partial solution to this issue: http://pajamasmedia.com/instapundit/118348/ After all, it's access to the people the represent us. Shouldn't we benefit at least partially from it?
I think it's a great idea but it seems quite socialist to tax someone at such a high rate. This seemed unnecessary considering both parties are guilty of the practice (Enron, Halliburton, etc..)
Speaking of Halliburton... http://www.businessweek.com/news/20...y-work-as-u-s-alleges-kickbacks-update1-.html May 6 (Bloomberg) -- KBR Inc. was selected for a no-bid contract worth as much as $568 million through 2011 for military support services in Iraq, the Army said. (note: no bid contract, and Obama's the administration giving it)
I try to think positive, ignore people who say the cards are stacked and believe if I work hard then I can get ahead... then I read shit like this and think "Fuck, what's the point?" (seriously though I like what I do and would probably do it for free if I didn't have a family to support)
I guess ranting is helpful for people, but this idea is stupid. You can't legally discriminate in this way, so the idea is a worthless non-starter.
Why not? They're getting paid for access, access to government officials. The government is supposed to represent us. Why shouldn't we take a piece of the action? Fuck, I remember running into Les AuCoin in DC after he lost his Senate bid. He had taken a job with a law firm, even though he wasn't a lawyer. I asked him if he was heading back to Oregon and his reply was, "After I make some real money". I'm a capitalist as much as anyone, but I'm also for a level playing field. Lobbying is one of the biggest bullshit professions there is. You shouldn't go into politics with the intention of making a fortune. Crony capitalism is not much different than national socialism. You should succeed because you make a better mousetrap, not because you know someone or are willing to pay for access.
There is no legal way to accomplish what the ranter wants that wouldn't be overthrown in the courts. You can rant, you can even pass laws. None of it would stop this behavior. You can't tell people they can't get a job. You can't tax people more than others based on who they work for or worked for.
You might be right, but there are non-competes that are acceptable in courts of law. There are finders fees and unjust enrichment equity claims in the absence of official agreements. I don't think that it would be a clear non-starter to have every politician agree to pay--whether as a tax or through writing a check--a percentage of his/her salary for a finite period back to the government. I'm not sure that any of this would help that much, though. The scale of the money paid is dwarfed by the amounts they're leveraged into. Ed O.
