President Abraham Lincoln once said that “almost all men can face adversity, but if you want to test the character of a man, give him the power.” Americans elect the president every four years to try them out. They all know what they do, but nobody knows what they make. We are now trying to find that out here.
This makes for an interesting discussion about what the top executives and doctors are doing. An average American earns $52,250 per annum per 2015 median household income report. But what America’s president always makes is generating greater reaction and curiosity. It is common knowledge that the President draws a $400,000 annual paycheck. But, in gross terms, what does he do? That would be an interesting info about his earnings to search and share. Let’s find out how much money the President’s making?
Compensations for Chair
Though the U.S. president is one of the world’s most powerful men, it doesn’t directly mean he’s debt-free or rolling in millions. His package to take home may not be as lucrative as many corporate CEOs. But he’s still in an enviable position as the country’s President. Though his account of expenses would be worthy of a king.
- In this context, it may refer to the salary of President Obama. He draws $4.00,000 annually, converted to $3333 monthly salary.
- Since 2001 the president has received an annual expense account of $50,000, tax-free $100,000 per annum travel expenses, and entertainment expenses of $19,000. In 2001 congress and president Clinton approved this current salary. He doubled the President’s salary from $200,000 that had existed since 1969 to $400,000.
- In 2015, President Obama and the first lady jointly filed their income tax return with $4.36.065 gross income. They paid $18,472 as tax at the 18.7 percent deduction rate.
- According to records from 2011, White House’s total expenditure on flying, traveling, staffing, security, entertainment, and the family expenses of President Obama came to a mammoth $1.4 billion. The people have had to foot that bill, whether they like it or not is a doubt, but unavoidable.
Certain sources of revenue for President
There are lots of advantages added to the $400,000 basic salary of the president, tax-free travel and entertainment expenses. These perks become whopping 1,169,000 per annum, including $19,000 entertainment budget. Obama and his family spent $7million on Christmas holidays in Hawaii on public expenses. This amount is just a little bit peanut when you compare the president’s overall expenses. Presidents may gain substantial income by writing books and collecting the royalties from them. Besides that, the president’s earnings can outstrip the salary he draws.
- Former president George W. Bush is making anything between $100,000 to $175,000 for every speech he makes, referring to a report in Politico last year. Since retiring in 2009 he has given more than 200 speeches. If you calculate just for your curiosity, since he said goodbye to this coveted post, he’s made over $30 million. His book ‘ Decision points’ also earned him more than $7 million. In a way, he’s monetarily better off now than when he was in the chair.
- Bill Clinton has raked in $240 million since his departure from White House in 2001 by selling his autobiographical book’ My Life’ and speeches. Forbes assessed the figure through the revenue-tax return that Clintons filed in the last 15 years. For him, his discourses are big money spinners. He earns $125,000 for a single speech in public.
- Jimmy Carter, president and Nobel prizewinner, wrote 14 books after leaving his oval office in 1981.
- Obama earned $746,674 from his books in 2011, the sale drops a bit, but it keeps giving him a beautiful royalty.
The job of president, and how does he earn it?
The money is making the world go-round but the force is providing the energy to it. It’s not about money he’s making but about the influence he’s wielding. At the same time there is no denying the power of money. But what does he get to earn it? He has defined his status which would justify his emoluments.
- The President is the armed forces commander-in-chief.
- He has veto power to return the bill or sign the congress passed bill.
- In the case of war, the congress declares war and it takes decisions about the movements of the forces.
- He takes all the decisions to guard the federal government’s constitutions.
- The president’s ceremonial roles are defined as head of state.
- He has the authority to appoint judges according to the Constitutions.
- He has the country’s sole depository of executive powers.
The emoluments of the President, as per the Constitution
Section 1 of Article II of the US Constitution states that the president would receive compensation instead of his services. Under his lifetime, the number can not be increasing or diminished. U.S. President Bill Clinton passed the bill recommended by the congress to raise President’s salary from $200,000 to $400,000 up until 2001. The next presidents had enjoyed the increased salary value.
Salary of the President at a glance in the last two centuries
George Washington and other presidents of that period, measured at the rate of inflation today, had a pay package in the millions.
- First president George Washington received $25,000 as compensation for the salary in 1789.
- Ulysses Grant, President, received $50,000 as salary in 1873.
- In 1909 President Howard William Taft earned $75,000 raised salary In 1949 President Harry Truman was paid with $100,000 In 1969 President Nixon got $200,000 raised salary In 2001 President Clinton updated it but George W. Bush enjoyed $400,000 raised salary.
The President’s Perks
The credentials of presiding over the world’s most powerful country are phenomenal. The perks are just like the cherries above the cake, and other emoluments. There are many advantages for the president’s benefits, directly and indirectly. There is much more than normal thinking, beyond salary, commuting and expenses. To facilitate him, there’s the presidential limousine, Air Force one, Marine one, housing, oval office, his personal office and many more.
- The iconic jet of President Air Force One & Marine One is always ready to take him around anywhere in the world. It has all the facilities right from the bedroom, living room to washroom, conference room. For America’s president it is iconic and worthy machine. Marine-one is an exclusive helicopter that takes him where it is impossible for the plane to go. The operation and maintenance of the aircraft costs the taxpayers substantial amount of money.
- Limousine–The limo of the president is a fortification on the wheel. It is well equipped with the bulletproof body, tear gas, medical kit, matching blood reserve of the president’s blood group, to handle emergencies. To protect the President.
- White House–U.S. President is an iconic country figure so only the best will do for him. He has a staff army to do white house care. In addition to the cleaning and housekeeping staff, he enjoys high-profile help from a chief usher or a butler who takes care of the first family. The chief usher has several persons under him, with their allied services available round the clock. The head of the kitchen is one executive chef, who has a baker, pastry maker and other chefs ‘ services. President has a Social Secretary who plans to design the documents or invitations for the parties, the florist staff, the chief calligrapher. In addition, a personal trainer who helps him and his first family keep their fitness at its best.
- Galaparties–The parties form an integral part of the White House and a part of the Presidential Protocol. The parties are the way to build better relationships with State heads and elite guests. Renowned singers and performers are called on to perform in some of the parties. All thanks to President’s unlimited budget. In normal days the first family picks the tab for their meal.
- Recreational activities–The first family and its guests have a lot to do for recreational activities. The white house has a movie theatre, a bowling alley, jogging tracks, tennis courts and basketball. Camp David in the high mountains of Maryland is the hideout and retreat of the President. Here too the location has all the recreational facilities. The unlimited presidential funds are available for president-related needs, and amazing is the first family.
Post President’s Retreat Emoluments
- Outgoing presidents ‘ pension was fixed in 1958, when a Former Presidents Act was passed by the congress. The post-retirement plan includes $191,300 per year in fixed pension, an office, and staff.
- Employees of the ex-president are paid $96,000 a year as salary. In addition, for the first 30 months after retirement, the presidents are entitled to $150,000 per year for them to settle down and get through the transition.
- If the former president leaves for ultimate residence, his wife would receive a $20,000 lifetime compensation.
- The coverage will also be assigned to post retirement.
Few facts relating to pensions may concern you
- Before the draft pension plan was launched few presidents suffered because of lack of money. James Monroe died penniless. Thomas Jefferson sold his personal library and laid the foundation for the Library of Congresses.
- George W. Bush did not entitle him to a pension.
- Pension for the ex-president was equivalent to the cabinet ministers ‘ pay.
- The pension spent on former Presidents in their lifetime would be millions of dollars.
Fact files about presidents’ earnings
- President John F Kennedy was from a wealthy, affluent family. His net worth was $100 million and he’d donated 100,000 p.a. for his entire. Five-year salary to various organizations such as the United Negro College Fund, the Boy & Girl scouts.
- Harry Truman had been in debt after he lost his money from bad investments. The salary of the President was revised to $100,000 in his time.
- From his speeches, George W. Bush earned $15 million post-retirement.
- President Thomas Jefferson was in debt of $10,000 and his mansion, slaves, and furnishings were sold to recover the debt after his death.
- Donald Trump, the newly elected billionaire president, has refused to take even $1 as pay.
Salaries of world leaders 2020
1. President of Russian Federation – Vladimir Putin Salary 2020
In 2018, Vladimir Putin’s salary fell by more than half as compared with the previous year. His latest financial disclosure indicated that the Russian leader earned €119,048.40 (8.6 million rubles) in 2018 from his official salary, military pension, savings interest and investment gains— a significant cut from 2017 when he earned € 257,307.02 (18.7 million rubles);
The Russian financial newspaper rbc.ru said Putin’s 2017 income could be clarified by his profits from a land plot he sold that year.
The disclosure, posted annually on the Kremlin’s website, also listed only two properties under Putin’s name: a 77-square-meter apartment with an 18-square-meter garage that he owns, and a 153.7-square-meter apartment reserved for Moscow’s presidential functions.
Putin also reported owning three cars and a trailer: two GAZ M21 vintage sedans, a NIVA SUV lady, and a € 800 Skif tent trailer.
2. President of China – Xi-Jinping Salary 2020
Chinese President Xi Jinping is coming up with an upturn. According to China’s human resources and social security ministry, Xi’s base salary is now going to be a whopping 11,385 yuan (about $1,830) a month, up from 7,020 yuan — or around $22,000 a year. By way of comparison, US President Barack Obama earns $400,000 a year and the controversial chief executive of Hong Kong makes about $545,000 a year.
It’s not just Xi— all members of China’s elite Politburo Standing Committee will now receive the same base salary, and the lowest-ranking public servants nearly doubled their base salary to 1,320 yuan ($212.50) a month.
Instead of showcasing the frugality of the country’s public servants, the announcement has served as a reminder of how rampant corruption is among Chinese officials— officials are paid small wages, complemented by kickbacks and other “gifts,” ranging from luxury products, cigarettes, and gift cards to bribes of up to 35.5 million yuan.
“Considering that in recent years the price of things has grown so high, how do these officials survive, especially with their many cars and properties? Who would explain that to me? I’ve never seen one part-time work as a beggar, “said one blogger on the Weibo microblog (registration required).
It’s a good question, given that Xi, like many other top Chinese officials, is sending their kids to expensive boarding schools and top universities outside the country. One theory is that Chinese officials store their ill-gotten riches offshore in tax havens and through relatives in complex financial systems that allow them to own anonymous mansions and yachts. A 2012 investigation by Bloomberg found that members of Xi’s extended family held multi-million dollar investments and owned luxury properties in Hong Kong, although no assets were ever traced to Xi himself.
Xi’s fight against graft has vowed to crack down on all of that. Just yesterday, he was quoted on the Weibo site of a military newspaper saying, “From now on, the main income of officers should be from their wages, not so-called gray incomes or illegal gains; otherwise they can expect to be punished.” However, apart from the occasional state news report, the wages of top Chinese officials are not disclosed, and activists who have campaigned for officials to declare t It’s unlikely we’ll ever know how much the most powerful man in China is actually earning.
3. President of Germany – Frank-Walter Steinmeier Salary 2020
- President – Germany
- Born: 1956 Germany
- Annual: $262,722.00
- Monthly: $21,893.50
- Weekly: $5,052.35
- Daily: $1,010.47
Public remuneration was about 242,500 euros in the 2018 financial year. In addition to its government wages, the Federal President earns an operating payment of EUR 78,000 a year for office-related expenses.
4. Prime Minister of the United Kingdom – Theresa May Salary 2020
THERESA May possibly has the most important job as UK prime minister in Britain-but how much does she earn?
The former Home Secretary is also Conservatives leader and Maidenhead’s elected MP, a post that she has held since 1997.
As prime minister, Mrs May-as well as running the country-ultimately holds responsibility for the March 2019 Brexit negotiations.
As Prime Minister, as an MP, Mrs May is paid a ministerial salary and a separate annual income.
The current combined salary entitlement of Mrs May is £ 153,907, according to the latest House of Commons briefing paper on members ‘ salaries and expenses and ministerial wages 2017/18.
But the amount actually received by the Prime Minister over the last financial year was £ 151,451.
THERESA MAY BREXIT NO DEAL: HEADED FOR A NO DEAL for the UK?
Theresa May salary Theresa May salary: Theresa May holds the top government job (Image: Getty) This breaks down into £ 75.440 for her prime ministerial position and £ 76.011 for her role as MP.
Mrs May had the right to earn £ 77,896 for her ministerial salary so the difference saved the taxpayer £ 2,456.
Have MPs been getting pay increases this year?
On April 1, 2018, the annual amount earned by MPs rose from £ 76,011 by 1.8 per cent to £ 77,379.
5. President of the United States of America – Donald Trump Salary 2020
Donald Trump – “I give away my presidential salary,” Trump told reporters at a gathering of his Cabinet. “They say no other president has done it. I’m surprised, to be honest with you. They say George Washington may have been the only other president to do that. See whether or not Obama gave up his salary. See whether or not all of the other of your favorites, your other favorites gave up their salary. The answer is no.”
6. President of France – Emmanuel Macron Salary 2020
- President – France
- Born: 1977 France
- Annual: £152,051.00
- Monthly: £12,670.92
- Weekly: £2,924.06
- Daily: £584.81
President of the Republic: € 15,140 gross per month Connexionfrance.com June 2019: The President and the PM are currently earning € 15,140 gross per month each.
7. Prime Minister of Japan – Shinzo Abe Salary 2020
- Prime Minister – Japan
- Born: Japan, 1954
- Annual: ₹ 1,45,28,499.00
- Monthly: ₹ 12,10,708.25
- Weekly: ₹ 2,79,394.21
- Daily: ₹ 55,878.84
8. President of North Korea – Kim Jong-un Salary 2020
Kim Jong Un Net Worth: We all know it’s rich dictators but how rich is Kim Jong Un? North Korea’s Supreme Leader just so happens to be one of the richest people on earth. Let’s have a look at Kim Jong Un Net Worth!
I know some of you might find that odd, but having your own country seems to work wonders for some of these people.
Supreme leaders like Kim Jong Un or President like Vladimir Putin have managed to increase their net worth substantially in the last few years.
9. President of India – Ram Nath Kovind Salary 2020
The Indian government decided in October 2017 to raise the Indian President’s salary from Rs. 1.5 lac / month to Rs. 5 lac / month. In addition to the salary, the president receives other allowances which provide free (full life) medical, housing and treatment facilities. The president will receive Rs. 1.5 lac / month as a pension after this new salary. The Presidents ‘ spouses will also receive Rs. 30,000 of secretarial assistance per month.