Wednesday February 26, 2020
Home Business Here’s ...

Here’s How Much American Presidents Cost US Taxpayers

There are responsibilities that carry over after a president leaves office, which is the justification for providing an office allowance

0
//
america, president, taxpayer
President Donald Trump delivers remarks to the Conservative Political Action Conference, Feb. 23, 2018, in Oxon Hill, Md. Pixabay

Being president of the United States comes with numerous perks and the fringe benefits continue decades after the nation’s chief executives exit the White House.

Presidents are currently paid $400,000 annually, an amount set by Congress. The nation’s leaders have received five pay increases since 1789, when George Washington became the country’s first president.

Washington, and the 17 chief executives who followed him, were paid $25,000. In 1873, presidents got a raise to $50,000. In 1909, the presidential paycheck increased to  $75,000 annually.

When President Harry Truman started his second term in 1949, he got a raise to $100,000. President Richard Nixon was the first president to get $200,000 in 1969. The current rate of $400,000 took effect in 2001 with President George. W. Bush.

president, salaries, america
US Presidential Salaries Throughout History. VOA

The perks of being president include a pretty nice place to live for free (The White House); a battalion of servants led by butlers and a head housekeeper; a trained chef to cook your meals; a fitness center that comes with a private trainer; your own private movie theater and bowling alley; a country retreat (Camp David); round-the clock security (U.S. Secret Service); use of an airplane (Air Force One) and a helicopter (Marine One) and your own bullet- and bomb-proof limousine (The Beast).

And the extras don’t disappear once a president leaves office. Former chief executives currently receive an annual pension of $213,600, which is what cabinet secretaries make.

Pensions and other allowances were set in place in 1958 after President Truman faced lean times after leaving office.

Unlike many other ex-presidents, Truman wasn’t rich and worried about accepting offers that gave the appearance of cashing in on the presidency. However, he eventually sold his memoirs to Life magazine for $600,000, about $5.7 million in today’s dollars, which allowed him to live comfortably in retirement.

president, america, net-worth
Five former President’s net-worth. VOA

Today, not only do ex-presidents draw a pension, taxpayers also give them money for post-presidential travel and business expenses like setting up their own office anywhere in the country.

“There are responsibilities that carry over after a president leaves office, which is the justification for providing an office allowance,” Demian Brady, director of Research with the National Taxpayers Union Foundation (NTUF), told VOA by email.

“While staff compensation is limited to $150,000 for the first 30 months, then capped at $96,000 per year, there are no limits on the size or location of the office space. And the allowance is open ended.”

ALSO READ: SpaceX CEO Elon Musk Scouting for Potential Mars Landing Sites

Since 2000, taxpayers have paid nearly $68 million — not including the costs of secret service protection — to support former presidents, according to an NTUF analysis.

Bill Clinton has received the most benefits — $21 million — since 2000. Clinton has an estimated personal net worth of more than $70 million. When calculated by year, Barack Obama has collected the most — $1.4 million per year — followed by George W. Bush at $1.2 million per year. Both men are also worth millions.

Brady says these payouts basically amount to subsidizing millionaires given that today’s ex-presidents can get rich off speaking fees, book deals and other lucrative business deals.

“No one wants to see presidents in poverty, but that is not much of a concern in the modern era,” he says. “Reforms to save money here could look to providing a base amount for rent and furnishing and, consider putting a time limit on the allowance…If there are special circumstances imposed on a former president that would require additional time, this could be authorized through legislation.”

In 2016, President Obama vetoed a measure to cap office allowances for former presidents at $200,000 per year. A bipartisan bill to limit taxpayer benefits for ex-presidents was introduced in May 2019 and remains under consideration. (VOA)

Next Story

5 Tips to Boost Sales Quickly on your E-Commerce Site

Here are ways to increase your sales on e-commerce websites

0
E-commerce
Presently, there is a wide range of e-commerce tools that have made it easier and efficient to start an online business. Pixabay

Presently, there is a wide range of e-commerce tools that have made it easier and efficient to start an e-commerce business and startups in India. However, setting up a strong online website is merely half the battle, it takes more efforts to drive sales in your online websites. In this article, we will be highlighting some effective tips to build an e-commerce SEO strategy that drives desired sales and revenue – 

 

  • Generate Brand Awareness 

 

Your brand awareness directly influences your trust, which contributes to your sales, SEO, and repeat purchases. The more audience is aware of your brand name, the higher will be the sales of your e-commerce SEO company. And when it comes to building brand awareness, your primary focus should be on the quality. Focus on creating unique, engaging content, be active on social media, invest in paid ads, and associate in influencer partnerships. 

E-commerce
An e-commerce SEO company owner must understand that mobile shoppers are increasing at a skyrocketing rate. Pixabay

 

  • Leverage Video Content 

 

Video content attracts a lot of different kinds of consumers. A majority of experts believe that video is among the marketing tools that generate a high return on investments. In fact, users spend 88% more time on websites that have videos. This is a great tool to increase engagement and generate interest among the customers. People resonate with videos that have a story to tell, and they are more likely to remember what they have seen more than what they read. 

 

  • Invest in Paid traffic 

 

One of the excellent ways to boost sales for your e-commerce SEO company is to invest in paid traffic. People don’t invest in paid traffic because of the cost involved and the risk of not getting the desired results. When done effectively, paid traffic can prove to be quite reasonable and valuable to boost the traffic of your website. Initially invest a small amount in determining what is working for you and what’s not. When you invest in any kind of paid traffic, you might get the desired result in the first go. So you have to ensure that you implement best practices and be experimental. 

 

  • Recognize the Potentials of Mobile Shopping 
E-commerce
One of the excellent ways to boost sales for your e-commerce SEO company is to invest in paid traffic. Pixabay

 

An e-commerce SEO company owner must understand that mobile shoppers are increasing at a skyrocketing rate. More people are using mobile to perform their online shop. In fact, 63% of the millennial use their smartphones to shop. In order to boost your sales, you have to optimize your website for mobile devices, or else it will directly impact your sales. 

 

  • Display your Popular Items 

 

By showing what your other customers are buying the most, you are giving the customer a direction. People might be aware of all the items you are selling. And if you sell multiple products, it could be confusing for them. When you display top-selling items, you may attract them to buy those products. 

Also Read- Samsung Unveils Galaxy M31 Smartphone in India

Above are some of the effective tips that will help you in boosting the sales of your e-commerce website. Along with setting a seamless website for your e-commerce SEO company, you must implement the right strategies to ensure that you get the desired return on your investments. And a service provider like Infidigit will help, back your business up with all the right strategies that need to be implemented for your website