How much does the president of the United States earn? A frivolous question while waiting for the results of the 2024 US elections to answer those who, with the electoral event of the year attracting global attention, are wondering how much the salary of the leader of the number one economy in the world is.
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How much does the president of the United States earn?
The salary of the president of the United States of America amounts to 400,000 dollars per year, to which is added an expense reimbursement of 50,000 dollars.
The earnings for former US presidents do not end with the end of their mandate. In fact, a pension and other variable economic compensation is foreseen.
The total spending dedicated to former presidents to date amounts to approximately $4 million per year. Beyond the reflex benefits they still enjoy, first ladies are not entitled to any direct salary.
Why does the president of the United States take a salary?
The U.S. Constitution requires the president to receive a salary for his/her work.
The founding fathers wanted to protect future presidents from the temptation of corruption and allow all those who met the requirements, even without a certain source of income, to become president of the United States without the lack of a salary influencing this choice.
Read also: How rich is Joe Biden? Here is how much his personal wealth is
Presidents of the United States who have refused their salaries
Receiving a salary as president of the United States is certainly not an obligation. In fact, there are four presidents throughout history who have refused to receive it, donating it in whole or in part.
1) Donald J. Trump
The former president of the United States, who is aiming to be re-elected for a second term in the 2024 US Election, has refused to take his annual salary of $400,000. Rather, he decided to donate them to various federal departments between 2017 and 2020.
2) John F. Kennedy
Kennedy donated his then $100,000-a-year salary to charity. He did the same during his 14-year political career in the US Congress.
3) Herbert Hoover
Hoover instead split the distribution of his salary as president of the United States among various charities and staff. His net worth at the time (1923) was about $4 million, which is about $105 million today.
4) George Washington
The first president of the United States of America decided to donate his salary, at the time of 25,000 dollars a year, using only part of it to reimburse his travel expenses. He moved in a special carriage that was safe when crossing the roads of the South.
The salary of the vice president of the United States
And how much does the vice president of the United States earn? He/she receives the same salary as the Chief Justice of the United States of America and the Speaker of the House of Representatives.
The salary is a right protected by the Ethics Reform Act signed in 1989. The vice president receives an annual adjustment based on changes in the cost of living.
The pension as a former vice president is calculated like that of other members of Congress. Former vice presidents and their families are entitled to Secret Service protection for six months after leaving office, and temporarily at any time thereafter, if warranted.
Read also: How rich is Donald Trump? Here is the real wealth of the Tycoon
