A friend of mine had a genius idea. We pay everyone in congress like $1mm a year for the rest of their life, but we don't allow them to ever work for money again.

If they want to work, fine, but it's free. I bet they'd spend less time lobbying and more time working on noble pursuits.

Sure, then Congressmen just get cut in for equity. Or some other crazy loophole that will be left open.

Here's the problem: the Federal government has too much power. So long as it retains that power, people and corporations will figure out a way to influence the people who hold that power, through salaries, bribes, equity, favors, lobbying, or whatever.

The only real solution is to reign in Congress.

We must also reign in the power of the few, because as long as money and power are highly centralized, no matter whose hands its in or what type of oganization it is, they will be, by definition, in power and our society wont be equitable, fair or democratic.

That's what generous salaries for elected officials was supposed to accomplish in the first place.

In reality, why would a would-be corrupt politician forgo multiple tens of millions in exchange for only 1 million?

Because corruption comes in degrees and utility curves shrink. The difference between 1 million and tens of millions is not enough to sway your person of average morality to the Dark Side. But the difference between tens of millions and 170k or however much is a more tempting offer, especially when you live in the unbelievably expensive DC area and also half your peers are filthy rich.

I think that's kind of the point, isn't it? Make elected office unattractive to those motivated by the thought of megabux.

Of course, such lavish pensions would still create gravity for the self-serving types who just don't think as big.

I would normally agree with that. Make it even $5 million per year if needed be. But I have one worry - that they become too disconnected with regular people. Then again, there aren't too many politicians these days who aren't already rich, so maybe that won't change too much.

The only thing that will accomplish is to limit the spending for a congressional seat at approximately the cost of a life-time annuity at $1m/year. Basically a lot of people will want to go to congress for that salary, which is more than they can otherwise make. Once in congress, they have no further desire to stay in congress (they get their millions anyway) and so will not care what laws are passed.

> A friend of mine had a genius idea.

Your "genius" friend doesn't know much about the economics of congress.

For example, Nancy Pelosi's net worth while in Congress has been going up by far more than $1M/year.