Most Americans believe it’s illegal for politicians to profit from their public office but, as Steve Kroft reports, that’s not the case.

October 20, 2013 4:37 PM

See also Washington’s open secret: Profitable PACs

Category: Politics, Really, really bad calls, Video

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3 Responses to “Washington’s Open Secret: Profitable PACs”

  1. Carpe Diem says:

    This song just hit the net and sums up the debacle in D.C.

  2. Also see:

    “Extortion: How Politicians Extract Your Money, Buy Votes, and Line Their Own Pockets” (Amazon)

    by Peter Schweizer. Schweizer was featured on CBS Morning News as part of this story.

  3. Braden says:

    60 minutes seems to be under the impression that PAC money is taxpayer money, at least it seems like they’re trying to blur that line. It’s donor money, and I can imagine that it’s the donors who are being taken to football games, vineyards, on golf trips, etc.
    The family employment bit sounds laughable. They talk about the Ron Paul PAC (reported as the largest offender) paying out $304,000 to 6 relatives over 2 election cycles. That works out to $25,000 per election per relative. That’s just over $6,000/ year. Maybe Paul had to hire family because the pay was so crappy!
    The expressed idea that the politicians are taking advantage of rights that other citizens don’t have is way off base. What business can you think of where somebody HASN’T hired their snot nosed brat for a summer job?
    Nepolitano lending her campaign money at 18% is really the only meat here, and it’s the donors who are being grifted.