Comment by TheRealDunkirk | Hacker News Reader

Comment by TheRealDunkirk | Hacker News Reader

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I think Congressional term limits would be one of the easiest fixes for the current state of affairs. Overturning Citizens United and repealing the 17th would be great steps too. However, I think we should pay Congress people at least $1M/yr. Pay them like Fortune 100 CEO's. Make it so they don't even CARE about playing games with insider trading. If we want to run this capitalist country like the capitalists we think we are, then scrap the notion that Representatives were supposed to be farmers that went and represented their districts for a couple of sessions, and then went back to work. Pay them in a way that attracts truly talented people, instead of the usual suspects who have just enough intelligence to recognize that they have just enough EMOTIONAL intellect to handle the campaigning and the backroom dealings. Of course, then we get into the argument about whether the average Fortune CEO is really any more talented than the average representative, but you get the idea.

The tone of this is a little hard to read, so forgive me if I've misread anything.

I mostly agree with the other changes, except for increasing pay as a means of eliminating the motivation to play games. If there's one thing we've seen play out over and over, it's that excesses and greed just beget more greed. Look at the number of executives, financial managers, and politicians who already had vast wealth yet STILL engage in shenanigans. Furthermore, the job of legislating is an elected one, which means it will always go to those who are best able to convince the most people to vote for them (frequently by promises and pandering), not those who will do the best job. Now, I don't think legislators should get pauper's pay, but I also think we should do what we can to limit it's use as a career path for power and wealth.

I have no problems with capitalism. If the market has healthy competition and the referees (regulations and the courts) are fair and transparent, capitalism is good. Unfortunately, many of those elements have gotten worse in recent decades. We regulate more than ever, but it's the small businesses who suffer the burden and have no real voice in DC.

Capitalism done right means that I'm not upset by Wal-Mart's success, as it's kept in check by other companies like Amazon and Target. If you think anybody is invincible, take a look at what happened to Sears, K-Mart, and Toys-R-Us. Capitalism done wrong means that big companies use regulations and unfair referees to keep out competition. The power wielded by FAANG today dwarfs anything Microsoft ever had.

The people you want running the country aren’t likely people who are willing to get paid minimum wage too.

You want the best? Usually have to pay more. People in congress are barely paid anything as far as the private market goes. (<$200k/yr and that’s while having to live in two places and frequently travel between them) Considering how many have law degrees and other professional degrees, being a congress person certainly is a step down in terms of certain income. They just make up for it with should be illegal forms of market manipulation. (And other things)

I don't want legislators who think they're "running the country". That's the first problem. Rulemaking should never be construed with "running".

Secondly, I've never had any illusion about trying to attract "the best" in Congress. It's an elected position, both the House and Senate, and so it will merely attract those with aspirations of power and wealth who are good at campaigning. Oftentimes we also get people who forge a decades-long career by leveraging the access to power and influence they have in such a position. This last part is toxic, and won't be fixed by increasing pay.

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