Hey, Boss, how about a raise? June 28, 2007Posted by Jeff in Economics, Politics.
Today members of Congress gave themselves a $4,400 raise.
The last time I got a raise, it was because my employer was pleased with my job performance and because my company felt I was contributing value enough to warrant such a raise.
PollingReport.com shows the results of various “job approval” polls for congress, and the following chart graphs these numbers over the last 3 months. Congress’s job approval rating, in the latest poll, is 25%, with a full 63% of you saying you explicitly disapprove of the job Congress is doing:
Would you get a raise if you had a 25% job approval rating? When 63% of your bosses explicitly disapprove of your job performance, I don’t think a raise of any size is in order. So, instead of a pay raise, what if we talk about a pay cut?
After the most recent raise, salaries will be almost $170,000 per year, which is more than enough to live on, even in the Washington, DC, area. If we were to cut legislators’ pay by $70,000, leaving them with salaries of “only” $100,000 per year, would any of them quit because of low pay?