CNN reported yesterday that New Jersey Governor Jon Corzine is going to pay all medical costs associated with his April 12th car crash. He’s entitled to health insurance coverage through the state, but will instead pay these costs himself.
Jon Corzine is the former CEO of Goldman Sachs and has amassed a bit of a fortune, so he can afford to do this. He also takes a salary of $1 per year as governor, even though he is entitled to the $175,000 per year that goes with the office. I don’t really know much at all about his politics, but I appreciate his gesture and his willingness to accept responsibility for his accident.
Perhaps we should encourage only wealthy people to run for office by cutting elected officials’ salaries to a level, say, at or below the poverty line. Two things would happen: The minimum wage would likely go up, and there would be fewer losers gorging themselves at the public trough. Would an elected class distinction arise? Probably not any more than the class distinction that exists today.
I wonder how many of my state legislators, who make around $80,000+ per year, would go for this.