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It's a BIG Club and You Ain't in It!

Written by Jason Williams
Posted June 9, 2021

Did you ever wonder how politicians always seem to amass such huge wealth? I mean, being a “public servant” at the highest levels doesn’t pay bad, but it’s not enough to make you a multimillionaire by any stretch of the imagination.

The Speaker of the House takes home $223,500 a year. The majority and minority leaders of the House each get $193,400, so does the president of the Senate.

Rank-and-file representatives in the House and Senate, both those that can vote and those that can’t, make $174,000 a year.

Heck, even the president of the whole country only takes home $400,000. And that only lasts eight years tops.

So why then is the median net worth in Congress about $1 million? How are over half the members millionaires? And how did some amass hundreds of millions, even billions, doing “public service?”

Well, I know the answer, and it might not make you very happy. But I’m going to share it anyway...

“One Big Club”

Comedian George Carlin is often quoted for his skit about how politics and wealth are all intertwined and that, basically, it's one big club and you aren't a member.

Everyone always gets a chuckle out of it, but not many realize exactly how true it really is.

That’s because most people don’t realize that it was the wealthy who literally wrote the rules of wealth accumulation for the politicians.

And when they wrote them, they made sure that nobody but the members of their exclusive club could accumulate the most wealth.

Of course, to thank their friends in D.C. for letting them tilt the scales in their favor, those same super-rich people gave membership to any of the political elite who were willing to play ball.

And they’re all willing to play ball.

Take Nancy Pelosi. In 2007, Nancy Pelosi became the first female Speaker of the House. She retained that post until 2011 and then retook it in 2019. During that time, as you know, she earned a salary of $223,500 per year.

But Nancy started really getting paid far earlier. You see, back in 1987 when she was first elected to the House, Mrs. Pelosi was a relative pauper, worth far less than the average member of Congress today.

And yet, by the time she took the gavel as Speaker of the House in 2007, she was sitting on a fortune worth more than $20 million! And we’re supposed to believe she got that on a congressional salary?

I don’t think so. But fast forward to 2018 (the most recent year financial disclosures are available), and the gain becomes even more unbelievable.

A little over a decade after becoming the first female Speaker of the House, Nancy Pelosi’s estimated net worth had exploded to nearly $120 MILLION!

That extra bonus she got as Speaker of the House sure didn’t add almost $100 million to her bank account over a decade. In fact, she was only getting the extra juice as Speaker for part of it.

So how did she accumulate so much wealth in such a short time? Well, she’s a member of the club...

Or what about Dianne Feinstein? She’s the senator from California. The most recent disclosure estimates her net worth at nearly $100 million.

She’s served as one of California’s two senators since taking office back in 1992. So she’s been collecting a six-figure salary for a few decades now.

But even if she’d been making the $174,000 the whole time (which she hasn’t, it was raised in 2009 to the current level), that would add up to about $5.05 million. That’s a far cry from reality.

So again, I ask, how did Mrs. Feinstein amass such a gargantuan fortune? I’m guessing you’ve got a good idea...

Yep. It’s because she’s part of the club too — that exclusive club you and I will never get to join.

Everyone Is Doing It

But I don’t want you to think I’m picking on Californian politicians or women or Democrats. Literally, everyone in D.C. who’s gotten access to this club is doing it.

So let me give you a few more examples of people making a fortune thanks to their connections in the government.

The richest member of congress is Mark Warner. He’s a senator from the great state of Virginia. And as of 2018, his net worth was estimated at over $214 million.

He was elected to the Senate in 2008, but he was already a member of the club before then, as he’d been the 69th governor of Virginia before that.

He took a little pay cut to become a senator though. As governor, he was making about $175,000 a year. As a senator, he’s pulling down $174,000.

But somehow, he’s worth WELL over $200 million — probably more now because that was three years ago when congress last filed financial disclosure forms.

That’s what being a member of this club gets you.

Or how about Markwayne Mullin? In addition to having an interesting first name, he also has a net worth estimated to be over $10 million. It’s a far cry from Nancy’s $120 million-plus.

But Markwayne’s only been a member of the club since 2013 when he became a U.S. representative for Oklahoma’s second district.

Now, I don’t want to drag this guy through the mud, because he could be a great person. But let me give you a little background. Mullin attended Missouri Valley College in the 1990s but did not graduate.

He eventually got an associate's degree in construction technology from Oklahoma State University Institute of Technology. That’s the extent of his higher education.

And I’m not badmouthing construction or associate's degrees. I worked construction for a spell in my youth, and I hold an AA from my local junior college.

I’m just pointing it out because you wouldn’t expect a guy with an AA in construction to amass such a large fortune quite so quickly. (He’s a couple of years older and several million dollars ahead of me, and I worked for Morgan-freaking-Stanley during some booming times.)

He originally promised to serve only three terms, but when the third came to an end in 2018, he was quick to go back on that promise. I don’t blame him.

Why on earth would you only want to be a member of the most exclusive and profitable club on the planet for just six years? Especially when it's offering lifetime membership...

I could literally go on and on and on listing all the multimillionaires who made the bulk of their fortunes after coming to D.C. and joining this secretive club.

I could fill pages upon pages with examples of how much these people are making ON TOP of their regular salaries.

Heck, even the 50th-richest member of Congress is worth over $10 million, and she’s only been there since 2017. Just think what she’ll be able to earn by the time she’s been there as long as Nancy!

The point I’m trying to make is that everyone is doing it — everyone in the club at least.

And again, I’m sorry to say neither you nor I will likely ever become members of that exclusive tight-knit group.

But that’s okay...

You Can Too!

Because there’s a way you and I can still grow our wealth the same way those politicians have been for nearly a hundred years.

Tomorrow, I’m going to reveal exactly how you can start building your fortune the same way as Nancy Pelosi and the rest of the D.C. cabal have for decades.

Just keep an eye out for my email.

You’ll be shocked at the way they’ve kept us out of the profits for years. You’ll probably get a little angry knowing how much they’ve made and how much you’ve missed. And you’ll be amazed at how fast that kind of massive wealth can accumulate.

But you’ll also get the chance to join me and thousands of other investors who got tired of eating the scraps and have taken our seat at the main table.

You won’t want to miss a word, and you can’t afford to miss this opportunity.

Make sure you set a reminder to look for my email tomorrow. You could start growing your family fortune the same way those club members have been since they wrote the rules on how to make money.

To your wealth,

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Jason Williams

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After graduating Cum Laude in finance and economics, Jason designed and analyzed complex projects for the U.S. Army. He made the jump to the private sector as an investment banking analyst at Morgan Stanley, where he eventually led his own team responsible for billions of dollars in daily trading. Jason left Wall Street to found his own investment office and now shares the strategies he used and the network he built with you. Jason is the founder of Main Street Ventures, a pre-IPO investment newsletter, and co-authors The Wealth Advisory income stock newsletter. He also contributes regularly to Wealth Daily. To learn more about Jason, click here.

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