politics

what do we think the effect would be if we paid politicians way way more

e.g. US president $1b salary for four years, senators $100m etc

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President: Not much difference. 
Senators: They'd never retire.

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Not what's lacking, there's already very strong competition for these jobs. Senators have strong incumbency, in red or blue states (ie most of them) they keep the job until they choose to retire.

But there would be more of an incentive to run against them