CNBC – 01/18/2020: President of the United States of America is no ordinary man. The one thing that makes him similar to regular people is that he gets paid for his work the same as all of us do. Yes, he earns much more than average Joe, but with more responsibility comes more money.
Now, the average salary for Americans is $44,564. President of the United States, in this case, Donald Trump, earns ten times that. Yes, the presidential salary is $400,000 a month. They also have an allowance of $50,000, $100,000 on their travel-account, and $19,000 for entertainment.
It wasn’t always like that. The first salary was paid out to George Washington. Since the first US President, there were 5 pay rises. The last one came in 2001 during the George W. Bush reign. At that time, it was doubled.
You might think that Presidents have it good these days compared to their predecessors. But if you add inflation, some of the early presidents earned much much more. For example, in 1909, the presidential salary was $75,000. In today’s dollars, it’s close to $2 million. Even in 1969, when the salary was $200,000, it was much more than it’s today, as that amount with inflation turns out to be $1.35 million.
In addition to their salary President also had free housing in White House and access to Marine One and Air Force One. The best part is that when your term is over, you receive government pension worth $200,000 a month with medical insurance. Also, your life doesn’t end after your seize being President. Bill Clinton earned $75 million after his mandate from book deals and speaking gigs.
Another interesting fact is that Donald Trump doesn’t receive his salary. Trump is worth $3 billion, so he decided to give his salary to charity. You can say all you want about 45th POTUS, but this move is a class act, and we applaud him for that.