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this post was submitted on 29 Aug 2023
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A lot of people are probably going to jump on the bandwagon and say that it's too much and that they're out of touch - just remember that the CEOs of big companies get millions of dollars per year for significantly less work and managing less stress. While we may not agree that these particular politicians particularly deserve this pay - I don't think it is unreasonable
Personally I do want politicians to be earning enough that it stops being super easy to bribe them. If that means giving them a few million a year that's fine, because it's pocket change compared to the cost savings in terms of corruption.
In first world countries, wages do not influence susceptibility to bribery.
In high-income countries, petty corruption is less common because wages are above subsistence level. Corruption in these countries, if present, involves more secret deals, brings about larger payoffs, and is more difficult to detect. Government wages will arguably be less effective to combat the latter form of corruption.
https://cepr.org/voxeu/columns/higher-government-wages-may-reduce-corruption