By Tom Quiner
Scott Walker may owe more than $100,000 on credit cards.
His net worth is a negative number.
What do you think about that?
Before you answer, have you noticed how many politicians seem to become millionaires in office? Before retiring last year from the Senate, Iowa’s Tom Harkin had a net worth of nearly $12 million despite serving in Congress most of his life.
Two-thirds of Congress are millionaires.
A study a few years back titled, Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives, revealed that House members from 1985 through 2001 earned abnormally high returns in the stock investments, considerably higher than the general public.
Why? The report suggests they enjoyed inside info. It followed up a similar study about Senators with similar results.
This brings us back to Governor Walker, who is a serious Republican candidate for president. Liberals are sneering at the Governor. Here is a reaction from a liberal advocacy group, One Wisconsin Now:
“Both Walker’s household and the deficit-laden state of Wisconsin under his purview are spending far more than they bring in. Seems Scott Walker might want to change his slogan to ‘Do as I say, not as do.”
Peggy Noonan had a different take. Walker has a couple of kids in college. His parents live with him. He is obviously not selling his influence to enrich himself, unlike some other politicians. Ms. Noonan found this meaningful:
“Meaning he has done a great deal of work and accomplished many things over the years and never bothered to make himself rich. This is so refreshing—public service that is not, apparently, a self-enrichment project—that I can’t help but think we should tip our hats. Good for him for doing it the old-fashioned way. As for its impact on his appeal, unless I’m very wrong, a lot of Americans will feel not derisive about his financial condition but almost touched. “Harry Truman had no money either.”
Liberals denigrate successful politicians like a Mitt Romney for having too much money.
They denigrate a guy like Scott Walker who is in debt like the rest of us schmucks.
Peggy Noonan’s friend fretted that a politician in debt could be bought, like the Clintons have.
Noonan had the exact opposite reaction:
“I’m seeing it the opposite: if he hasn’t sold himself yet, it suggests he is not for sale.”