How Much Money Does The President Make?

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Who Pays The President?

The president works for the United States government and is its most noteworthy official. Thus, just as is the case with the rest of the United States government employees, ranging from the most minimal ranking civil employees and military officials to the individuals from the U.S. Congress and the U.S. High Court, along with the rest of the central government employees, the president is also completely paid by the United States government, explicitly the U.S. Division of the Treasury.

The monies paid out are produced fundamentally from different sorts of federal tax revenues, despite the fact that the U.S. government has a few extra income sources from different charges, fines, customs obligations, tariffs, and so forth and sporadically from the sale of different government resources, including land, natural resources, and other real estate properties and an overflow or surplus of equipment.

Therefore, when it comes to who pays the president, it is us, the citizens of the United States, through our federal income taxes. We give most of the President’s, along with any other federal government worker’s pay and benefits.

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How Much Money Does The President Make In An Hour?

Before we figure out how much money the president makes in an hour, let us look at how many hours he works in a day. In one of his interviews, former president Barack Obama said that he worked for 13 hours a day, where 10 hours were from the Oval Office, while the remaining three are from home. Therefore, given these stats, let us assume that the president works 13 hours every day. Being the head of the state requires the president to be on call 24/7. So, for sake of making it simple, let us just say that he works the entire seven days a week, which means that weekends are included.

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One thing that needs to be taken into account is the number of days the president takes off for a vacation. This solely depends on the president. John Adams holds the record for taking the most vacation and is also often criticized for it. He only came to his office for 4 months while the rest 1799 days of his tenure, he was on a holiday. The current president Donald Trump, has taken a total of 24 days off (as of yet), while the previous president Barack Obama took 112 days off in his entire tenure of 8 years. So on an average, the president works for 49 weeks in a year.

Based on these estimated figures, the president works for roughly 4459 hours in one year. Thus, with an annual salary of $400,000, the president of the United States makes $89.71 in an hour.

How much did past presidents make?

Since the first president was elected in 1789 there have been five pay raises, the most recent in 2001. It might seem like past presidents didn’t make that much, but if you take inflation into account, that amount of money in 1789 would be worth a lot more today. Check out these hidden talents of 24 U.S. presidents.

1789: $25,000

1873: $50,000

1909: $75,000

1949: $100,000

1969: $200,000

2001: $400,000

Presidents Salaries Throughout History

Congress has only given the president a raise five times. A president cannot get a raise while serving a current term. As a result, most raises are gifts from an outgoing president to future ones.

Here is the president’s salary through history, and what it would be worth in today’s dollars. Thanks to inflation, all previous presidents received more in buying power than the nation’s top executive does today.

  • 1789: The president's salary was $25,000. It would have been worth over $800,000 in 2022.
  • 1873: President Ulysses S. Grant signed the bill that authorized his raise for his second term. The $50,000 salary would be worth $1.18 million in 2022.
  • 1909: William Taft received a $75,000 salary. It would be worth $2.34 million in 2022.
  • 1949: Harry Truman received a $100,000 salary. It would be worth $1.18 million in 2022.
  • 1969: Richard Nixon's $200,000 salary would be worth $1.59 million in 2022.
  • 2001: George W. Bush received $400,000. That amount paid in 2001 would be worth about $648,123 in 2022.

At what age is a person eligible to become president of the U.S.?

The president of the U.S. must be at least 35 years old. The youngest person to become president was Theodore Roosevelt, who was 42 when he took office. The oldest person to become president was Joe Biden, who was 78 when he was inaugurated.

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Presidential Pension: Do Presidents Get Paid for Life?

Do former presidents still get compensation of some kind after their tenure ends? Yes, once a sitting president completes his final term and leaves office he receives a yearly pension, as well as additional expenses meant for things like salaries and benefits for staffers. The yearly pension for former presidents matches the salary of Cabinet Securities (Executive Level I). In 2015, that number was $205,700 according to a report from the Congressional Research Service.

Former presidents are also free to make money in other ways – and they very much do. In under two years as a former president, Barack Obama has made an impressive amount of money in speeches alone. In 2017 he could make as much as $400,000 for a single speech, making him one of the top 10 highest-paid public speakers. Former Presidents Bill Clinton and George W. Bush were also in the top 10. Turns out being a former president is way more lucrative than being the current president.

Obama, in particular, has been adept at finding multiple types of post-presidency work. He and Michelle signed a joint book deal with Penguin Random House Publishing in 2017 with a reported advance of around $65 million. This is in addition to the continuing income Obama makes from his popular pre-presidency book Dreams From My Father. In May of 2018, Netflix announced its own agreement with the Obamas to produce content like film and television series for the streaming service.

Bill Clinton and George W. Bush may not have received $65 million for their books, but they were still paid handsomely for their written efforts post-Presidency; Clinton received a $15 million advance for his 2004 autobiography My Life, while Bush reportedly got a $7 million advance for 2010's Decision Points. Continuing book sales and public speaking events have allowed each to comfortably stay wealthy and even grow their net worth since leaving office. Jimmy Carter has written 14 books since he left the office, making him enough money to comfortably travel the world for humanitarian efforts.

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