Cathy Smith

Throughout the decades, the highest leaders and congressmen in the United States office have acted as a public-money financial-pig-trough through which politicians and their relatives increase their personal wealth. This trend has made the inequality gap wider, as well as done tremendous damage to the country’s economy and worldwide reputation. Recent presidents and congressmen have made measurable amounts of wealth during and after their term using strategic political offices. This paper seeks to uncover how power is used to create multi-generational family wealth, how it has deepened wealth inequality, and how the phenomenon endangers the democracy.

The Financial Trajectory of Recent U.S. Presidents

The wealth patterns associated with the financial lives of modern-day U.S. presidents offer an insightful case on how those in political office utilize their positions for financial gains. For instance, Barack Obama had net-worth of $1.3 million before taking office in 2008, but by 2023, he was worth approximately $70 million, using his book publishing, speeches, and deals with media firms like Netflix and Spotify to make the bulk of his money. In comparison, Donald Trump had a net-worth of $3.1 billion when assumed office in 2016, and although this has fallen to $2.5 billion in 2023, he continues to enjoy substantial wealth, driven predominantly by real estate and other investments that he made during and after his presidency.

National Debt vs GDP

The wealth patterns associated with the financial lives of modern-day U.S. presidents offer an insightful case on how those in political office utilize their positions for financial gains. For instance, Barack Obama had net-worth of $1.3 million before taking office in 2008, but by 2023, he was worth approximately $70 million, using his book publishing, speeches, and deals with media firms like Netflix and Spotify to make the bulk of his money. 

In comparison, Donald Trump had a net-worth of $3.1 billion when assumed office in 2016, and although this has fallen to $2.5 billion in 2023, he continues to enjoy substantial wealth, driven predominantly by real estate and other investments that he made during and after his presidency.

Wealth Accumulation and Political Dynasties in Congress

Congress members have always used their political positions, such as their speaking engagements and corporate connections, to accumulate wealth through insider knowledge. They include, among others, Nancy Pelosi, who has an estimated net worth of $120 million, and Mitch McConnell, whose wealth is valued at $35 million. This goes to show how much money can be made from long term political service. Other notable names in the political scene, such as Josh Hawley and Alexandria Ocasio-Cortez, prove that there is no shortage of rapid wealth growth for people in power, and have accumulated wealth quite quickly since getting into office, unlike before.

Today, it is well known that Congress is one of the more favorable places for the formation of political families. Prominent families such as the Bushes, Clintons, and Romneys have exercised and maintained their political and financial power for generations by using public office as a means to gain wealth and legitimize their power. This political culture whereby wealth is converted into power results in a small elite having exceptional influence and control on matters of economic productivity. Such democracy helps create and sustain a system of unequal access to power, while deeply rooting the previously mentioned power to wealth violation.

The U.S. Government as a Self-Enriching System

The U.S. government keeps operating as a system for transferring the wealth of the public to the elite. The wealthiest Americans, who already have an excessive amount of money, have benefited from policies like the Trump tax cuts in a way that has worsened inequality by giving them even more resources. Taxpayer money was wasted, again, on corporate bailouts during the 2008 financial crisis, the COVID-19 pandemic, and many more instances where it would have greatly helped the public, all while big businesses and billionaires reaped the benefits. 

Trade secrets like those of Congressman insider trading, including the one regarding Senator Richard Burr (R-NC), only scratch the surface of the systemic rot that exists within the political ecosystem. Following secret briefings, Burr managed to make over $1 million after selling stocks and bought his way off financial burden during the pandemic. After all the investigation, no charges were pressed against them for these actions. These actions show the ways in which people with power treat the public solely as a means to achieve their financial goals.

The Flow of Money: From the Poor to the Rich

The gap between the rich and the poor in the US has greatly increased over the years, with the top 1% having most of the wealth. With the wealth of the richest Americans at an all-time high, the bottom half’s wages have stagnated resulting in a larger gap between the elite and working class. The working, middle, and lower class now have more difficulties to pay for healthcare, housing, as well as education while the top 1% are only getting richer. 

The division in wealth and poverty has been apparent using various economic models like the Gini coefficient. The policy by the American government continues to deepen inequality as the policies are beneficial to the upper class. By showing how wealth can be shifted from the lower class to the highest, a mathematical model was able to show the concentration of resources and power within the elites. These computer modeled policies have shown that money can easily be taken out from the poorest citizens leaving them with no aid.

The Bankrupting of the U.S. System

This economic concentration of power aided the cost-of-living gap and weakened the stability of the U.S. Government. The national debt now is excruciatingly painful sitting over $31 trillion which has been further worsened by spending on corporate bailouts and military sponsorship which has become a norm. Furthermore, due to other policies in place, and rampant growth in entitlement spending, the country is slowly but surely inching towards a dire financial 'cliff'.

Military Spending vs. Social Welfare Spending

Graphs on national debt-to-GDP ratio in a comparative chart with military spending rendered give a clear depiction of how skewed the priorities of the American Government are. Should these policies remain, the United States is headed for a catastrophic financial crisis by the year 2040. Seeing these estimates serve as a reminder of how dangerous the current practices are, which surround the wealthy elite and their interests, and how detrimental to the economic and political sustainability of the country these policies are closing every chance for recuperation. Politicians brag that military spending is down-without stating that we are a debtor economy running out of credit. There is no surplus for emergencies, it was spent by Bush in the War of Terror; it was and is being spent on self-enrichment for elite robber barons.

Everything has transformed the moment one takes note of U.S. Presidency and Congress attempts to calculate how much revenue they get. Having campaign finance reforms, putting limits of key political offices, and fixing transparency overall in politics is the only way to bring balance back. This also goes on redefining scholarship. 

The trend which started with financial inequality has given birth to political families, and financial instability for the nation is just non-existent. To rectify these challenges, a set of coherent policies has to be enacted. All of these boost instability with a lack of democratic principles so that wealth balance can be obtained and retrained instead eventually helping the entire system.

The modern approach for wealth concentration adopts policies which push income towards the ultimatum elite remove financial health entirely. Everything comes down to the importance of the U.S. and why shouldn’t it? With focus on the real modern world, the broader community which enables dividing of the nation restricts fuels. More wealth enables aid which does and grants support whenever we deem fit to question and set for the nation. The culmination of political towers and stop government serves endlessly questions American aid. Why wouldn’t them set a medicine for the constitution from diffusing the attention?

Sources:

• Forbes net worth estimates.
• IRS tax data.
• Congressional financial disclosures.
• Federal Reserve economic data.
• Academic studies on wealth inequality and political corruption.

There have been persistent allegations of public sector corruption that include misuse of insider trading, public funds, and conflict of interests which have had a face within the Congress. These cases have notable examples like Senators Richard Burr and Kelly Loeffler as well as other Congressmen facing accusations of financial impropriety. Most of these charges have surfaced during election campaigns and these matters can take decades to investigate and resolve.

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The U.S. Presidency and Congress as Tools for Dynasty Building and Wealth Accumulation
https://www.thepeoplesvoice.org/TPV3/Voices.php/2025/02/14/the-u-s-presidency-and