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Here’s Why Stacey Abrams’ Millions of Matter

Stacey Abrams is currently a member of the millionaires club. That’s right. In the short four years since his failed bid for a Georgia judge director in 2018, Abrams has gone from a net worth of $109,000 to $3.17 million, according to state disclosures. For some, losing an election is a blow. For Abrams, it was a goldmine.

Unlike politicians who inherit their fortune or suddenly see their income explode after being elected (the rich get elected and the elected get rich), Abrams has to hustle. (Much of Abrams’ money comes from paid speeches, investments, book deals, her role as executive director of the Southern Economic Development Project and her role on the board of directors. Heliogen – a California company with the goal of “replacing fossil fuels with concentrated sunlight.”)

However, these opportunities would not have been possible without her attention running for governor. Complicating matters is Abrams’ refusal to acknowledge her loss, which has helped elevate her status as both a victim and a leader of the resistance.

This is not to say that Abrams lacks ideas or that her main motivation is to make money. But when it comes to running for office that will increase your income tenfold in just four years, it’s clear that those incentives are wrong.

Abrams’ newfound wealth is representative of the growing income gap between politicians and the military. This gap is statistically provable. About 8% of American adults are millionaires, while members of Congress make up about 50%. For anyone paying attention, this difference is too great to be written down as a mere coincidence.

This trend has worsened in recent decades. According to a 2011 article in Articles washington, as recently as 1975 “it’s not nearly so unusual for someone with few assets other than a house to win and serve in Congress.” The article goes on to note that the legislators “in the meantime included a barber, a plumber and a house painter”.

Today, things are completely different. Between 1984 and 2009, the median wealth of a member of the House of Representatives “more than doubled”, while “the wealth of the average American family declined”. The abyss has only widened since then. According to BallotPedia’s “Personal Profit Index,” from 2004 to 2012, “the average net worth increase for the top 100 [richest congressional incumbents] is 114 percent per year. “

Now, Abrams has offered to run for the US Senate, backing her re-election bid to become governor of Georgia — so her new millionaire status won’t affect her stats. Congress. Furthermore, the Republican governor she is running to replace, Brian Kemp, is worth about $8.5 million, according to Related press.

Regardless of who wins the presidential election, the next governor of Georgia will be a millionaire (Kemp’s GOP main rival, former Senator David Perdue, has more money than Abrams and Kemp. combine). This fact only reinforces the point: Even if politicians don’t amass huge fortunes by dubious means (like insider trading), the data confirms a nagging suspicion that the The game is systematically rigged and that politicians don’t communicate with ordinary people.

Of course, for Abrams, there was another turning point.

Progressives are stereotypically known for attacking the rich and wanting to reduce income inequality; so when they can give their political celebrity millions of dollars, the more legitimacy is in the accusations of them being hypocritical libertarians. For example, during a protest in Georgia last month, former President Donald Trump criticized Abrams for “living in these beautiful multi-million dollar homes.”

Fair or not, you know the pattern. They fly private jets to climate summits, are driven by drivers to work in gas-guzzling SUVs, and want to “re-allocate resources” away from the police (while paying for them). their own personal security). When it comes to identifying with the working class — a cohort that has tended to be Republican in recent years — these people can meet when out of touch.

In the words of millionaire Social Democrat Senator Bernie Sanders, “I wrote a best-selling book. If you write a best-selling book, you too can be a millionaire.”

But Sanders’ book wasn’t a bestseller because he wrote like Ernest Hemingway. His book was a bestseller because he was able to use campaign money to run for president and then raise his profile. Then (attribution) his message caught fire because it resonated with people. Then he certainly took advantage of the connections, expertise, and ideas he amassed in the process (like all of us) to buy a book deal and then that wrote it — this, yes, contributed to his millionaire status.

What’s more, in a world where public trust in politicians and political institutions is low — and where a lot of people want to be famous on Instagram — aspiring players are increasingly available. reason to see politics as a means to wealth and fame. And with the House with the Squad members on the left and the MTGs and Matt Gaetzes on the right, we’ve got the full roster of members we have now.

Now, fame and fortune have long been associated with politics, but as both anecdotal evidence and the aforementioned data demonstrate, the trend has exploded. America is only a few years away from choosing a reality TV star named Donald Trump. He has marked his fame and reputation as a billionaire businessman who is said to be successful in the election, and later, more profitable as president. This is a bipartisan phenomenon, but the reality is that you can lose and still cash in all but security. Abrams’ example is sure to inspire some imitators.

For anyone paying attention, the lesson is clear. If you cannot sing or dance, simply run for office instead. Pretend until you actually make it. Forward failed. Who wants to be a millionaire? You can also be rich. Hey, it works for Stacey Abrams!

https://www.thedailybeast.com/heres-why-stacey-abrams-millions-matter?source=articles&via=rss Here’s Why Stacey Abrams’ Millions of Matter

Russell Falcon

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