MGB: The President's Salary

A president's pension currently is $191,300 per year, until he is 80 years old.
Assuming the next president lives to age 80. Sen. McCain would receive ZERO
pension as he would reach 80 at the end of two terms.
As president, Sen. Obama
would be retired for 26 years after two terms and would receive $4,973,800 in pension.

Therefore it would certainly make economic sense to elect McCain in November.

How's that for non partisan thinking???

Does that figure factor in secret service protection?

How much would his VP get?

Thanks for that little nugget. winks

He gets 400 K to start, not bad for openers.

It is only a fraction of what his office expenses cost. The granddaddy of them all is Bill Clinton spending more than Carter, Ford and Bush I combined.

That did it John, hes got my vote, and Im stickin to it.

John D. Weimer Wrote:

Now there's a concrete argument John! You have cut through all the crap and gotten right to the point...let's save the 4mil and call it a done deal.

Pretty funny observation amidst such heated debate...you must be a gearhead or somtin'

It's an interesting issue of a presidents salary. He doesn't pay for things like secret service but they do become a person who is in a precarious position afterwards. You make make money doing speaking engagements and many do but what else are you going to do? Serve on boards? Maybe, would that be a conflict of interest? It makes moving to your next job a little odd....

But what else does an ex president do? Entertain; often not for money. You are thrust into a different life style like it or not and it cost money; even in the oddest way. You need to have a house big enough for the secret service, to host guest, to serve guest, etc. some of these events will serve their good fortune some will be an extension of who they are and what they have become. $180k can go pretty quickly in side expenses!

It's an odd place to be.

But then again, Bill and Hillary have a jump on the dishes and home furnishings from the white house! :)

Funny topic, I've never thought of this.

Once out of office you dont have to worry. You will be paid several hundred k to speak, whenever you want. "Donate" some time to a charity, expense paid.

I think the real money is in book deals, lobbying and public speaking. Think about the connections you would have. Want a meeting with pretty much anyone in the world? Just have your people call their people.

It's not til 80, it's for life;) Don't believe everything you get in an email ;)

http://www.senate.gov/reference/resources/pdf/98-249.pdf

http://www.snopes.com/politics/mccain/pension.asp

I was sure it was for life when I read that, and you're right about believing stuff on the net. I trash about everything except personal messages and jokes.

I was surprised about what the wife gets after the death of a president, only $20,000. for life. The wife of a federal employee would get up to 55% of his pension, plus a yearly increase for the rest of her life.

Steve64B Wrote:

John D. Weimer Wrote:

TVRPaul, heck the president only works at most 8 years why would she deserve more. Don't worry about the Senators wives. If you want to make yourself sick look up the details on the retirement system the Federal politicians have carved out for themselves. The pecking order of retirement systems is:
Politicians.
California state and local
Academia
US Port Districts
Fortune 500 companies
Federal employees

If you look at the retirement package of a Senator like Joe Biden or McCain it will surprise you.

Other than Truman, What modern day president ever came out of office without being rich. Or more rich, take your choice.

Dave

Give 'em Hell, Harry.

Dave, if you grant inflation I don't think any modern US President came out richer for the period he was in office. If he did better than a resonable investment manager it would be looked into to ensure he had not direct involvement in his investments. Their investments are all in blind trusts. Actually most have been upper middle class, Nixon, Carter, Ford and Clinton. Reagan, Bush I and Bush II were wealthy comig in. None of those gained while in office excluding inflation and reduced personal costs. One got very wealthy after, Clinton who is now worth more than all combined probably. With some research you might be able to review all their tax reports but I believe I am pretty accurate.

Where did I go wrong in my thinking.

donkeymule Wrote:

6863m Wrote:

Chuck, Gore many have received more votes than Bush but he was never president.

Richard, They all seem to be doing very well to me. I'am not sure tax returns indicate wealth when the perks from their foundations and board memberships are very substancial.

Dave

BRAVO-4 Wrote:

Dave, it is all relative and sure they are all doing well to my standards also. I don't begrudge anyone making a buck but Clinton and Gore are over the top.

Also you should trust the system. These guys would be stupid to hide anything in taxes or income. And they are not stupid. They instruct their CPA's to be on the safe side on everything and actually probably pay more than they normally would in taxes. I also don't like it that Clinton gives his charity to his own family foundation and deducts it. I don't know about Gore but I would bet he does it the same as Clinton. But it is legal. I like the way Chaney and Bush do it. They do most of it outside the family foundations which I would think they would have.

dte948 Wrote: