Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Public Service Has Mutated Into Public Disservice

Politics / US Politics Jan 02, 2012 - 03:58 AM GMT

By: Barry_Elias

Politics

I would consider running for Congress, because I do not want to be a career politician.

Public service should be analogous to the charitable tithing principle: a portion of one’s income and/or time is dedicated toward others that are less fortunate (e.g., 10 percent).


The rationale: “Veil of ignorance.”

In 1971, John Rawls incorporated the “veil of ignorance” as an integral feature of the social contract in “A Theory of Justice.” By this, he suggested the just treatment of others is more likely when each individual has no knowledge of their socioeconomic status prior to birth.

In recent decades, those in public service seem to lack adequate competence and/or just intent.

Prudent public policy will not improve as long as the current unfair rules of engagement are in place. The rules of engagement need to treat public servants as citizens and limit government involvement, so all live by the policies created.

I would consider a short term position in Congress to institute the following changes retroactive to the start of my term:

Congress abides by the same rules and regulations they impose on the citizenry.

1. Congresspersons may not engage in “insider trading.”

2. Congresspersons may receive healthcare according to the same rules of engagement as private industry.

3. Congresspersons may receive retirement benefits according to the same rules of engagement as private industry.

a. Congressional Retirement funds for current and past congresspersons will be transferred into the Social Security and Medicare system.

b. Congresspersons shall contribute to the Social Security and Medicare system the same as the general citizenry.

4. Congresspersons shall not receive any form of future payments upon leaving office (e.g., pension), since tenure is limited.

5. Congresspersons shall not have the authority to approve compensation increases.

6. Compensation for Congresspersons shall be determined as follows:

a. Compensation (salary and benefits) shall equal that of private sector employees in the top 2 percent of the population

b. Compensation to be increased 10 percent for each 10 percent reduction in the annual fiscal deficit.

c. Compensation to be reduced 10 percent for each 10 percent increase in the annual fiscal deficit.

7. These rules need to be passed by both houses of congress and signed by the President prior to other legislative considerations.

Prudent, fair, and effective public policy is more likely if these value driven parameters are in place.

By Barry Elias

eliasbarry@aol.com, beb1b2b3@gmail.com

Barry Elias provides economic analysis to Dick Morris, a former political adviser to President Clinton.

He was cited and acknowledged in two recent best-sellers co-authored by Mr. Morris: “Catastrophe” and “2010: Take Back America - a Battle Plan.” Mr. Elias graduated Phi Beta Kappa from Binghamton University with a degree in economics.

He has consulted with various high-profile financial institutions in New York City.

© 2011 Copyright Barry Elias - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Robert Benson
02 Jan 12, 16:12
Congresspersons

8. Citizens may not run for a congressional office if they have a law degree of any type. This also applies to any Naturalized Citizen that had a law degree of any type in any nation in which they lived prior.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in