When recent news came out that SCOTUS Clarence Thomas failed to disclose getting hundreds of thousands in compensation over the years from a billionaire, public discussions started taking place about whether people in high power positions are corrupt, including Supreme Court justices. Well, it may be the book industry is a significant player in a corrupt system.
Let me explain.
As for Justice Thomas, there are daily reports of his “friend,” billionaire Harlan Crow, taking him on lavish trips, buying his mother’s house, paying for his great nephew’s college, etc. Thomas either did not disclose these payments because the ethics system permits silence (terrible) or he intentionally skirted the existing rules (crime). A system that normalizes such behavior leads to corruption. We need better rules, better enforcement of such rules, and more stringent penalties for violations.
Justice Thomas is not alone in hiding money funneled to him. It apparently is how the court operates. Retired liberal justice Stephen Breyer publicly supported Thomas as not doing anything different from other justices. In other words, he is dirty — and so are some other justices.
Many judges take money and don’t disclose it. Even when they do, not all recuse themselves. Look at thus running list:
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When you look further at outside money to the justices, many of them, past and present, got lucrative book deals. See below:
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Further, many in Congress carved out big book deals. See this list as a point of reference:
https://www.senate.gov/senators/BooksWrittenbySittingSenators.htm
So, here are some obvious questions:
Should current office holders, such as judges and elected or politically appointed officials, be allowed to get book compensation while in office? Does this pose a conflict of interest?
Why are these judges and political office holders often getting paid with advances that often far exceeds the income likely to be generated by their books? In other words, why do so many of these books fail to earn out their advances — and why do publishers come back for more?
You can forgive a few bad business decisions and it is true that a publisher’s brand or image may benefit from its attachment to certain politicians, but is there a darker reason behind multi-million-dollar book deals that appear to be duds on paper?
Could these book deals just be elaborate schemes to funnel bribes and campaign donations anonymously to the politician?
Of course, this would require a lot of coordination between many publishers, literary agents, authors, and donors.
I can’t say for sure if this has happened or how often it is taking place, but the numbers are suspicious. It seems publishers overpay and don’t profit from deals with politicians. So, why do the publishers keep throwing millions to a risky cause?
Publishers can recoup money from the sale of:
·
Hardcover sales
·
Paperback sales
·
E-book sales
·
Audiobook sales
·
Foreign rights
· Film rights
Is it enough?
It depends on how much a publisher nets on a book. If it makes an average of two dollars per book sold, it needs to sell 500,000 copies to break even on a million-dollar advance. How often does that happen? Not very.
The next time you hear of a big book deal for a politician, wonder if it is just a money-laundering scheme.
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About Brian Feinblum
Brian Feinblum should be followed on Twitter
@theprexpert. This is copyrighted by BookMarketingBuzzBlog ©2023. Born and
raised in Brooklyn, he now resides in Westchester with his wife, two kids, and
Ferris, a black lab rescue dog. His writings are often featured in The Writer
and IBPA’s The Independent. This
award-winning blog has generated over 3.3 million pageviews. With 4,400+ posts
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as a "best resource.” For the past three decades, including 21 years as
the head of marketing for the nation’s largest book publicity firm, and two
jobs at two independent presses, Brian has worked with many first-time,
self-published, authors of all genres, right along with best-selling authors
and celebrities such as: Dr. Ruth, Mark Victor Hansen, Joseph Finder, Katherine
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Writers Association, Willamette (Portland) Writers Association, APEX, and
Connecticut Authors and Publishers Association. His letters-to-the-editor have
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