Reflecting on Congress and Wealth Accumulation
There’s an older film called “Dave” from about 20 years back. It starred Kevin Kline, and the premise was pretty interesting: he unexpectedly becomes president because he looks just like the ailing leader. It’s been a while since Kline’s graced the screen, but that movie really stuck with me.
It’s curious — maybe there’s something to be said about President Biden’s frequent tumbles down the stairs. I mean, they could’ve nicknamed him “Slinky.” In that comedic narrative by Ivan Reitman, Kline’s character approaches the presidency with a refreshing perspective. He raises straightforward questions we still ponder today, like how can the Pentagon, with its massive budget, not pass an audit? What’s going on with the CIA and FBI? And isn’t it strange that non-citizens are counted in the census and possibly granted Congressional representation?
Then there’s this perplexing situation with Congress members trading on inside information and making a fortune during their tenure. It really makes you think. I live quite close to the Georgia border, in Tennessee, where taxes are lower. However, I’m also near Marjorie Taylor Greene’s district. Now, I don’t necessarily oppose her entirely; I find myself agreeing with many of her votes. I even attended the release of the Epstein files with her — to avoid getting dragged into an endless conflict, really. Still, it’s worth a look into how she reportedly increased her net worth thirtyfold in just under four years.
And she’s not alone. Others like AOC, Pelosi, and Ilhan Omar — another representative from Somalia who’s gone from just a few years in Congress to a staggering net worth — have also seen huge increases. It’s almost hard to believe some of these politicians weren’t too far off from working on nut farms a while back.
Greene hit Congress in 2021, and her net worth reportedly skyrocketed from $700,000 to over $21 million. But, how does that even happen? The public filings Congress provides are often designed to obscure details. They can declare stock worth anywhere from $1,000 to $25,000, and then you compare that to how the IRS demands way more detail if you claim a profit in that range — it’s puzzling.
In an article from August, it was reported that Greene invested in Palantir Technologies just three days prior to ICE awarding them a significant contract. Following that, her stock reportedly rose by 142%. It’s fascinating, really.
Now, if we see Pelosi, Omar, and Greene divesting from their Raytheon and Martin Marietta stocks, it may give us some insight into whether President Trump has made any progress with the Russia-Ukraine situation.
Many Congress members have profited massively during the pandemic, and it’s intriguing how certain companies were given legal immunity when the push for vaccinations started. Companies like Pfizer and J&J were expected; however, Moderna, which many hadn’t even heard of, saw its stock price soar from $13 a share to over $450 in late 2021.
Maybe I should discuss the tax returns of these financial aces on Capitol Hill with my CPA. Their returns seem almost unreal, outpacing even Warren Buffett’s. It’s odd how little they actually need to disclose. I mean, you just need a K1, 1099, and W2 to connect the dots, right?
Now, don’t get me wrong — I appreciate Marjorie. She’s part of the Republican Party’s more outspoken faction. In past years, she stirred things up by calling Rep. Lauren Boebert a “slut” on the House floor, and then George Santos chimed in with “Show up!”
Greene has faced numerous rumors about affairs with trainers and workout buddies, which, frankly, are quite striking. And after expressing her discontent with the actions of Republican Chairman Johnson, she considered unseating him but later chose not to pursue that path.
Both Trump and Greene find themselves at odds with Ms. Pelosi, and he’s hinted at investigating them. In a way, it seems like they’re okay with that — perhaps they think he’ll give them a heads up before going public.
