It is official. It took 34-year-old Congresswoman Alexandria Ocasio Cortez just a little over four years to go from a Bartender to a fast track to a verified Millionaire. Cortez, or Sandy as she went by in her days at Boston University, graduated in 2011 and had significant debt from four years of overpriced study on Boylston Street. She started a career as a Mixologist until she was elected to Congress in 2018 to represent the good folks of the Bronx and Queens. She lives in a luxury apartment in D.C., drives a Tesla, travels extensively, and makes $174,000 yearly as a Congresswoman. On her current trajectory, it is estimated Miss Cortez will break the Million Dollar ceiling by age 38. She attributes her growing savings account balance to good budgeting. Not bad for a self-proclaimed Socialist. I think it may be more a case of campaign funds finding their way into her personal accounts. I have no proof, but she has been investigated more than once for misappropriation of campaign donations. That is some pretty good financial manipulation for an Arts and Science Major. Like most internal investigations by Congress, they very rarely punish their own.
Cortez is not unique, but she may be the most high-profile case. And not just the Members of Congress who profit, but their friends and family who tag along and get onto the staff payroll. The salary of the Member is capped, but there is no such cap on staff salaries. It is well documented that Nancy Pelosi and Maxine Waters have their children on their Congressional or campaign staffs and are making six-figure salaries greater than their Congressional Moms. Again, these are not rare but widespread situations, and one of the reasons these politicians opt to stay in office for life. Their office is a retirement fund for select family members.
Nancy Pelosi has also tapped into another means of back-door income for her and her husband. Nancy and Paul Pelosi are worth more than $200 Million, most of which can be attributed to excellent luck in the stock market. Pelosi has been accused of using information regarding bills working their way through Congress to make stock trading decisions. An example was their making millions buying Tesla stock just before a bill mandating future government vehicles would need to be electric. They made a similar killing on a Microsoft stock purchase. Nancy Pelosi’s good fortune in the Market has prompted many proposed bills forbidding Members of Congress from buying individual stocks while holding office. Of course, with so many members of the House and Senate profiting from these activities, these bills will never get to any President’s desk for signature.
These people are not in office for the good of the country. They do not have an altruistic bone in their bodies. It may be wrong to paint with such a broad brush, but it is safe to say that any exception will be part of a tiny minority. It is no wonder that after a very short time in office, these folks lose any perception of the plight of the average American. These folks live by different rules and are not just members of Congress but a very exclusive club of personal entrepreneurs.