Why don't politicians go broke?

[trueshotaura]

We always here these elaborate stories of superstars/celebrities, athletes etc lose all their fame money EVERYTHING, but we never hear bout an ex-mayor goingbankrupt or an old Senator losing everything. How can people who make Millions+ lose everything and people who make Thousands+ (Sometimes Millions) never seemto skip a beat? Are you just set for life once you reach some level of political office, or are these people elected extremely bright/ careful with theirmoney? What are your thoughts?

 

[dyzzle]

maybe politicians almost always have an education to begin with.

 

[damnthosejs]

Originally Posted by TrueshotAura

 or are these people elected extremely bright/ careful with theirmoney? What are your thoughts?

- you gotta understand, some or should I say most athletes come from low income families. Once they get a hands on a boatload of cash, they're going to spend it like there's no tomorrow since they've never handled that much money in their lives.

- celebrities on the other hand, well, most of them we hear getting broke are the drug addicts. It's plain stupidity with the exception of countless Rappers (yes) who claim they got this much cash in their pockets

that +extremely bright in hiding stolen wealth + careful with their money = good financial standing (in my eyes)

 

[ooiron manoo]

Originally Posted by dyzzle

maybe politicians almost always have an education to begin with.

That has something to do with it.

Also, they hardly ever campaign with their own money. They also handle their money wisely. I would assume most buy one or two luxury vehicles (personal andfor the wife), and even then it may be below 100K. You don't see politicians frontin' with 100K+ cars and worrying about their swag. They get hatedon anyway,

.

Rappers and Athletes go broke because they try to hard to impress other people and/or do not surround themselves with quality people.

 

[mateen cleaves]

because they are smart?

 

[rsdplaya]

donations bruh.

 

[johnnyredstorm]

Bribes.

/thread

 

[damnthosejs]

Originally Posted by dyzzle

maybe politicians almost always have an education to begin with.

I didn't wanna include this since people will take it the wrong way, but I think its the #1 reason why athletes who come from low incomefamilies go broke.

I honestly believe being financially responsible relates/equates to the kind of education a person has attained or received.

 

[airjaw]

Politicians tend to be highly educated - I would say >99% have bachelors, and maybe 80-90% of higher-level politicians have masters degrees (congressmen,mayors of large cities, governors). Financial Education is a part of it - they know how to manage their money and they have the connections to keep their moneyand investments safe and growing.

People already touched on the other side of the issue, which is the mismanagement of money due to lack of knowledge/financial education. Also, I'm guessingthat "friends" of athletes/rappers try to take advantage of their "friend" moreso than the friends of politicians do

 

[shabooyah1124]

Originally Posted by JohnnyRedStorm

Bribes.

/thread

 

[orangatrang]

Idk about lower level politicians, but for big time ones, like senators and presidents, they are backed by Political action committees aka PACs,
and those fund campaigns, raise money and publicity...but most of the time, the candidate ends up becoming their puppet.
It's pretty corrupted and sad.
But that's politics for ya.