This is dead on arrival. They aren't even going to get a solid majority of Democrats on board and there's going to be absolutely zero Republican support. I would honestly be amazed if it even made it to the house floor.
House Democrats to propose ban on lawmaker stock trading – report
61–70 of 382 posts
Re: House Democrats to propose ban on lawmaker stock trading – report
#62I've been collecting and sharing (@QuiverCongress on Twitter) data on stock trading by U.S. congressmen for the past couple years. While there is currently legislation that requires congressmen to disclose their financial dealings, enforcement around it is incredibly weak. Congressmen are supposed to disclose stock transactions within 45 days of when they are made, but in practice there are dozens of violations of th…
If it becomes a big enough liability that prominent representatives are concerned about their reelection due to it then it will happen. Yes, Congress is reluctant to specifically legislate against itself, so to make it happens a stink must be raised.
Binding resolution allows for We the People to force the legislative body to enact legislation that they oppose. This is now cannibals become legal in Colorado. Unfortunately not all states have binding resolution nor are legislative body willing to empower the people. Binding resolution also needs to be bound at a Federal level, which it is not, to bring in true balance of power and laws that have true accountability. Such as all money gained through insider trading is forfeited along with possible jail time and possible loss ability to be a constitute representative.
If binding resolution was an available tool for We the People, legislative body would work move together than separately.
Re: House Democrats to propose ban on lawmaker stock trading – report
#63Earlier quoted context omitted.
So should all politicians receive money exclusively from lobbyists/donors? Or I guess they should go get paycheck jobs somewhere? Where does a politicians money come from? If they exclusively received their money from stock trading as opposed to lobbyists/donors, how do you think the policy decisions would change?
> Where does a politicians money come from? They have an annual salary.
What about the salaries of the staff? What about the tools needed to perform the job?
Re: House Democrats to propose ban on lawmaker stock trading – report
#64Hear me out... few people want to run for federal office already. The pay isn't great and it's hard work. If the US was a company, there'd be no question that we'd need to pay our leadership much better to attract top talent. We pay senators $170k a year to manage our country with a $20 trillion economy. So what we end up with is activists who crave power and elites from rich families for whom $170k a year is a round…
Lawmaker pay is a rounding error. Clearly we can't pay lawmakers $0 and expert high effort + no corruption. is there any proof of any way that saying pay from 170k a year to ??? 1 million USD? a year would have any impact on the problems? Do countries with less corrupt lawmakers pay more than the US? I doubt that...
No post body was provided.
Re: House Democrats to propose ban on lawmaker stock trading – report
#65Earlier quoted context omitted.
> So should all politicians receive money exclusively from lobbyists/donors? Or I guess they should go get paycheck jobs somewhere? Am I mistaken? I thought most political position are paid positions. Currently north of $150,000 USD for members of congress, I think?
And so how do these members of congress pay for staffing, research, etc? with just 150K per year?
Through your taxpaying dollars, just like every other government worker?
>pay for [...] research
Thanks for the laugh.
They might read research, but they aren't personally funding it.
You may wish to read up on the subject of government work, salaries, etc. before you go debating about it on the net. Most of this stuff is covered in early Civics classes, and as someone who presumably pays taxes, you might be interested in finding out where and how those dollars get distributed!
Re: House Democrats to propose ban on lawmaker stock trading – report
#66Earlier quoted context omitted.
Pelosi's Nvidia sale was timed poorly. $NVDA is up about 8% in the two days since they sold.
Here is the story: https://www.marketwatch.com/story/house-to-vote-thursday-on-... When you see the CHIPS socialism for the rich act stall, and ultimately NVIDIA will be affected and NVDA goes down below that.. what is a couple days ultimately, if you get out ahead of a much larger drop?
I'm operating on the assumption that the market has already priced the possibility of the CHIPS Act failing into the current price of $NVDA.
It's possible that new information will come out that will lead to the price of $NVDA dropping, but I think that your initial comment was pretty misleading as the new announcement has not lead to Pelosi's sale being profitable.
Re: House Democrats to propose ban on lawmaker stock trading – report
#67Earlier quoted context omitted.
> So should all politicians receive money exclusively from lobbyists/donors? Or I guess they should go get paycheck jobs somewhere? Am I mistaken? I thought most political position are paid positions. Currently north of $150,000 USD for members of congress, I think?
And so how do these members of congress pay for staffing, research, etc? with just 150K per year?
It’s called the Members’ Representational Allowance and is north of $1,000,000 per year.
Re: House Democrats to propose ban on lawmaker stock trading – report
#68Earlier quoted context omitted.
So should all politicians receive money exclusively from lobbyists/donors? Or I guess they should go get paycheck jobs somewhere? Where does a politicians money come from? If they exclusively received their money from stock trading as opposed to lobbyists/donors, how do you think the policy decisions would change?
....They get a salary? It's not huge, by rich-people standards (which is a legitimate concern, as it does lead to very rich people being more able to take politician jobs than regular people), but, what, you thought they relied on graft to buy their dinners??
> but, what, you thought they relied on graft to buy their dinners
They will if this ban is instituted
Re: House Democrats to propose ban on lawmaker stock trading – report
#69Earlier quoted context omitted.
....They get a salary? It's not huge, by rich-people standards (which is a legitimate concern, as it does lead to very rich people being more able to take politician jobs than regular people), but, what, you thought they relied on graft to buy their dinners??
It is huge by the people they are supposed to govern standards though. It would be a raise to virtually everyone except the top 1% of people in terms of household income. They also receive top of line medical care and retirement benefits in addition to the salary. The salary isn't preventing poor people from becoming elected officials.
> The salary isn't preventing poor people from becoming elected officials.
I agree, and trading stocks is not keeping poor people from becoming elected officials either
Re: House Democrats to propose ban on lawmaker stock trading – report
#70I've been collecting and sharing (@QuiverCongress on Twitter) data on stock trading by U.S. congressmen for the past couple years. While there is currently legislation that requires congressmen to disclose their financial dealings, enforcement around it is incredibly weak. Congressmen are supposed to disclose stock transactions within 45 days of when they are made, but in practice there are dozens of violations of th…
No post body was provided.