How Much Does The President Make?

How much does the President Make?

The base pay for the President of the United States is $400,000 per year. The federal income tax is applied to this compensation, which is decided by Congress. Since the compensation was raised from $200,000 annually in 2001, it has stayed the same. In addition to the $400,000 base income, the President also receives a few lovely incentives, such as an annual expense account, a travel account, and a $20,000 entertainment stipend, as we will go into more detail in a moment.

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The Current Salary of the President

As was already noted, the President of the United States currently receives a salary of $400,000. The president additionally receives a $100,000 non-taxable travel account, a $50,000 annual expenditure allowance, and a $19,000 annual entertainment allowance in addition to his pay.

How the President's Salary is Determined

Congress sets the President's pay, which is subject to adjustment. The President's salary may be altered by Congress through legislation. The pay is determined by a number of variables, such as inflation, the state of the economy, and the cost of living.

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Other Financial Benefits for the President

The President of the United States additionally enjoys other financial benefits in addition to the salary and perks already stated. Free living at the White House with servants, cooks, and other facilities is one of them. Additionally, a fleet of vehicles, including limos and helicopters, are provided to the President for official usage.

The President's annual total compensation is little over $550,000 thanks to these fringe benefits.

History of the President's Salary

George Washington, the nation's first president, did not receive a salary while in office. Instead, he received compensation for whatever costs he spent while acting as president. The president's annual salary was first set at $25,000 by Congress in 1789; it was subsequently increased to $50,000 in 1873.

Up until 1909, when it was raised to $75,000, the pay stayed at $50,000. $100,000 was added to the compensation in 1949, and $20,000 was added in 1969. Up until 2001, when it was raised to its present amount of $400,000, the compensation stayed at $200,000.

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Just so you know, $25,000 is equivalent to around $560,000 after inflation. In contrast, President Richard Nixon made $200,000 per year in 1969, which translates to a little over $1 million in modern currency. Even yet, it pales in comparison to the presidency of Theodore Roosevelt. The pay of the first Roosevelt was $75,000 annually or $1.7 million in today's money.

How Does the President's Salary Compare to Other Government Officials?

The President earns more than other members of the executive branch, including Congressmen and federal judges. Federal judges presently earn between $200,000 and $270,000 per year, depending on their position, compared to members of Congress, who currently get $174,000 per year.

Criticisms of the President's Salary

Some people have complained that the president of the United States receives an excessively large income. The president's pay, according to detractors, should be adjusted to reflect the fact that he or she should not be compensated more than other government employees.

Conclusion

Federal income tax is payable on the $400,000 yearly salary received by the president of the United States. This wage has not changed since 2001, and it is increased by a number of financial bonuses and allowances. Despite some criticism of the pay, the post continues to be among the best paid in the US government.

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