Apparently an annual salary of $174,500 and a vast array of taxpayer-funded perks is not enough for most members of Congress.
Otherwise, why would they need "Leadership PACs" – personal political action committees that supposedly raise money for political activities but in practice provide a pipeline of cash to subsidize their already-elite lifestyle.
Now remember, in addition to official salaries more than triple what the average American household earns, members of Congress have an average net worth of about $966,000, according to OpenSecrets.org.
And yet these greedy elitists still feel the need to siphon off some political donations to pay for luxuries they could easily afford anyway.
As Trevor Potter, a former chairman of the Federal Election Commission (FEC), told "60 Minutes," Leadership PAC money "can be used for literally anything."
About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.