Several months ago, Susan Rice, the former National Security Adviser under President Barack Obama, was in a world of controversy. She made headlines the world over with her part in intentionally “unmasking” officials on the Donald Trump campaign. However, there is more than meets the eye with this woman, especially when money is involved.
A career in the public sector pays very well, better than most of the jobs in the country. At her peak income, Rice was earning $172,000 a year. That’s pretty good, considering that when accounting for a 30% tax rate, she’s still bringing home over $120,000. However, Rice’s net worth is $50 MILLION.
That begs the question: How does someone who spent their life in the public sector have that high of a net worth?
Starting off, Rice’s income at her peak was just over $170,000. That means she was getting raises from the government as she was promoted. Let’s just assume she made that throughout her entire time in the government. According to the Washington Times, Rice hopped on the victorious Bill Clinton bandwagon in 1992.
So let’s say her career started in 1992. Considering that 2017 hasn’t ended yet, we will use up to 2016. So that’s 24 years worth of paychecks. Taking that time and multiplying it by $172,000 gives a grand total of $4,128,000. However, that’s without taking any expenses out, taxes or spending in general, which is literally impossible.
For Rice to obtain her $50 million net worth, she would have to spend just under 300 YEARS working for the government.
That doesn’t make a lick of sense. Her career only gives her a little over eight percent of her total worth. So how did she get the rest of her money? Back in 2012, the Washington Post ran an article about Rice, who was being considered as the replacement Secretary of State due to Hillary Clinton stepping down.
They made a note back then that her net worth was over $20 million. However, the Post says that the money came from inheritances from Rice and her husband, as well as her own personal investments. Except that was five years ago, and the total has since doubled.
So again, how in the world has her wealth more than doubled in five years? Part of those investments were in concepts that the Obama administration spent the latter part of their time in office opposing: Oil.
According to an NPR article, also written in 2012, they tell of how Rice might not have been partial to this type of decision. She owns stock in TransCanada, the company responsible for the Keystone XL project. The Obama administration was toying with either approving or disapproving that deal, which represents a stark conflict of interest for Mrs. Rice.
According to the NPR article, she owns stock valued at somewhere between $300,000 and $600,000 in TransCanada. Furthermore, they state, “… about a third of Rice’s personal net worth is tied up in oil producers, pipeline operators, and related energy industries north of the 49th parallel — including companies with poor environmental and safety records on both U.S. and Canadian soil.”
Remember how the Obama administration was pushing for “clean energy?” Apparently that means only to United States citizens, and not the people that are supposed to govern them.
The Post does try to say that there is nothing shady about Rice’s dealings with the oil industry. They say that the connections “go back 20 years” when she was working somewhere else. However, the stunning hypocrisy is real among Democratic voters, who are clamoring about climate change, yet never mention a word about what Rice was involved in.
It also represents a huge conflict of interest. Rice’s wealth has essentially doubled since 2012. How many other things was she investing in while being an adviser to the Obama administration? It’s easy to think that her wealth had increased due to the fact she was advising Obama on certain issues.
It was clear that Rice was set to be somewhat of a human shield for Obama’s failures, starting with the Benghazi incident. Those eventually rose until the “unmasking” scandal came to light. It was so bad that Judge Andrew Napolitano, often dubbed “America’s Judge,” was calling for Rice to be arrested and jailed.
Rice was also brought up during the Syrian strike that President Trump did back in April. The strike was about the gassing that had been going on. That brought up a conflicting narrative, as Rice stated in January that claimed the gas had been removed from Syria. The conflicting reports left two solutions, and neither proved well for Rice.
A life in the public sector pays very well, but it doesn’t make people extremely wealthy. Rice’s net worth has to be called into question, especially if Trump wants to continue to “drain the swamp” of the people that are there. Her career was filled with scandals, but this is just adding more fuel to the fire.