President Donald Trump is the third U.S. president to refuse a salary.
During the 2016 general elections, Trump told 60 Minute that he wouldnot take a salaryif he won the presidency, and he has effectively stood by that promise. A chairperson legally has to have a wage, and while it’s the least of Trump’s frets, he said he would accept$ 1 and donate the rest to the U.S. Treasury or charity while he’s sitting in the Oval Office.
Trump has stuck to his word thus far by donating his first three months of salaryto the National Parks Servicea check totaling $78,333.32. The act of donating a salary isn’t revolutionary, though, as former Chairpeople John F. Kennedy and Herbert Hoover donated theirs to charity as well.
Being a chairman is a full-time occupation, and it comes with a significant paycheck. So, how much fund is Trump truly becoming down?
How much money does the president induce?
According to Title 3 of the U.S. Code, a president’s annual salary is $400,000 a year, stimulating them a part of the nation’s 1 percent. That might sound like a lotand it’s certainly nothing to sneeze atbut it’s nothing compared to what an elite college football is making at a public university, and they’re government employees. In addition to a salary, the president also get $100,000 for traveling, a $50,000 expense account, and $19,000 for amusement purposes.
The first president of the United States, George Washington, had a salary of $58,000 in 1789 and it’s increased over time. By the time Harry Truman aimed his term in 1949, the salary rose to $100,000. It became $200,000 when Richard Nixon won in 1969, and it wasn’t until George W. Bush entered the White House in 2001 that it doubled to what it is now.
Benefits are also included, but they aren’t limited to yourtraditional healthcare perks. The chairwoman travels for free, whether it’s in a limo, a Marine One helicopter, or on Air Force One. Lodging isn’t an issue either, as the president and their family can live for free in the White House, be complemented by a personal cook and other staff.
Like Trump, Kennedy, and Hoover, Washington didn’t want a paycheck either, according to Time.As the first chairman of the U.S. and commander-in-chief of the Continental Army, he felt like it was his duty andhe was honor-bound to refuse a salary.
Congress disagreed with him though, arguing it could leave room for bribery and corruption if he were to refuse a salary.
How much do chairmen make after their term?
Once a chairwoman completes their word, they are still on the government’s payroll with an annual pension of virtually $200,000. The chairman will still receive healthcare benefits, as well as paid traveling and fully furnished office space.
The real money, however, is stimulated through volume bargains, tours, and speeches that render figures in the multimillions.
Bill Clinton earned virtually $15 million for his published memoirs, Bush$ 7 million for the first 1.5 million prints sold of his volume, and former President Barack Obamaand former First Lady MichelleObamacould earn anywhere from $20 million to $45 million in volume deals and tours, according tothe New York Times.
If a chairperson resigns, they’re still able to receive retirement pensions and benefits, but the perks are taken away if they are removed from office by impeachment.
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