Rate/critique/advise-me-on my essay! It's due in a few hours!
As you may or may not be aware, a United States gets the same salary they got while they were in office for the rest of their lives. That means, per year, $16,210,000 (sixteen million) is spent on Senators in office.
If, over the next ten years, every voting term, only twenty new Senators got elected, and the other eighty got re-elected, (even though usually it’s the other way around), that alone would be an additional $16,210,000 we would have to pump out per year after that point.
After the first year of elections, in this hypothetical situation, we would be paying $324,000 more than we were prior.
*** VERIFY ***After the next election, $648,000 more than at the beginning. The year after that, $1,296,000 more would be being paid since before the elections started. After that, we would reach $2,592,000 more, and then $5,184,000, and then 10,368,000.*** VERIFY ***
Since 1995, about $1,600,000,000 (1.6 billion) has been spent on Senators in office. That means, while we were paying Senators all that money since 1995, we were still also paying all those other Senators, too. Currently, there are still 140 former United States Senators still living. That means every year, we’re paying $22,680,000 to former Senators who aren’t doing any more work for our country.
About 1/3 of the Senate is voted in every two years. That means, we’re going to be adding about an additional $5,346,000 to money for Senator salaries, due to the fact that the 1/3 voted out still receive their salary, every two years.
supposedly:
A US Senator gets an annual increase of around 2.43885649932002%
(exactly) annually for the rest of their lives. From that figure and
from a starting base pay of $7,500,000 (including a $25000 signing
bonus) I should be able to figure it out.
... but I need to verify that information. I don't think it's entirely accurate >_>;
I need to turn that into a 5-7 minute long speech, and I need to bring in some sort of visual aid. Is there anymore information I should look into getting, or points I should raise?