Mainly I just want to know why the presidents don't give some of there paycheck to the country. if they make 1 million then give half of that to the country your running! Makes sence if they really care! but i don't think they do! as allways greed takes over! what are your views on this and how can we get it into action! Why does the president make so much money? When will the greed stop?
2006-07-20 07:00:47 · 18 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
Congress: Rank-and-File Members' Salary
The current salary for rank-and-file members of the House and Senate is $165,200 per year.
• Members are free to turn down pay increase and some choose to do so.
• In a complex system of calculations, administered by the Office of Personnel Management, congressional pay rates also affect the salaries for federal judges and other senior government officials.
• During the Constitutional Convention, Benjamin Franklin considered proposing that elected government officials not be paid for their service. Other Founding Fathers, however, decided otherwise.
• From 1789 to 1815, members of Congress received only a per diem (daily payment) of $6.00 while in session. Members began receiving an annual salary in 1815, when they were paid $1,500 per year.
Congress: Leadership Members' Salary (109th Congress)
Leaders of the House and Senate are paid a higher salary than rank-and-file members.
Senate Leadership
Majority Leader - $183,500
Minority Leader - $183,500
House Leadership
Speaker of the House - $212,100
Majority Leader - $183,500
Minority Leader - $183,500
• A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it.
Congress: Benefits
Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation.
• Members elected since 1984 are covered by the Federal Employees' Retirement System (FERS). Those elected prior to 1984 were covered by the Civil Service Retirement System (CSRS). In 1984 all members were given the option of remaining with CSRS or switching to FERS.
• As it is for all other federal employees, congressional retirement is funded through taxes and the participants' contributions. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes.
Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Please also note that Member's of Congress have to serve at least 5 years to even receive a pension.
The amount of a Congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary.
Data compiled in 2003 showed 413 retired Members of Congress were receiving federal pensions based fully or in part on their congressional service. The average age of those retiring under CSRS was 75.5 and had at least 20 years of federal service. Those who retired under FERS had an average age of 68.3 years and 21.6 years of federal service. Their average retirement payment was $3,909 a month.
2006-07-20 07:18:22 · answer #1 · answered by tmcs1959 3 · 1⤊ 1⤋
Yeah, that whopping $200,000 would make a huge difference. Why does the president make $400,000 a year? That really isn't that much considering that he works about 18 hours a day, 7 days a week. Perhaps if you did some research into the subject rather than just making stupid claims, your question would have some validity.
And you're most likely one of those jackasses that either doesn't pay any taxes or gets a huge chunk back in a refund. So shut your trap until you actually start contributing something to this country.
2006-07-20 07:41:18 · answer #2 · answered by Goose&Tonic 6 · 0⤊ 0⤋
No, it wouldn't help. The national debt is in the trillions range. When you consider how much is left after taxes, he's down to roughly 60% of what he earned. Add to this his personal debt from his repayment of his campaign cost. Now he's down to roughly 40%.
The CEOs and company owners of major corps. make anywhere from ten to twenty times what the POTUS makes.
If you realy want to lower the national debt,contact your congressman and tell them to get on the ball and axe any spending bill that does not effect at least five states.
When you stop and think about what the POTUS has to deal with on a daily basis, you'll realize he deserves every penny he makes, even if you dont like the person currently holding office.
2006-07-20 07:18:24 · answer #3 · answered by S.A.M. Gunner 7212 6 · 0⤊ 0⤋
The national debt is in the trillions. Look at it this way.
One Trillion = 1,000,000,000,000
The President's salary is only about $400,000 per year. In 2005 current US president George W. Bush earned roughly $830,000, more than twice his salary, mostly from capital gains income.
So, if he even gave his whole paycheck to the national debt, it wouldn't make any difference.
THanks for asking though.
2006-07-20 07:07:16 · answer #4 · answered by casey_leftwich 5 · 0⤊ 0⤋
the president makes $200,000 in salary which is not that much, and even if they denote $200,000, it would not make a dent to the national debt. It is the prestige not greed that motivate someone to be a president.
CEOs of large corporations makes millions of dollars. Even upper management make more than the president. In fact, we should raise the president's salary to attract more applicants.
2006-07-20 07:32:11 · answer #5 · answered by sharpshooter 5 · 0⤊ 0⤋
You're ignorant. They are grossly underpaid and deserve every penny that they get. The president of Dunking Donuts makes more that the President of the United States. The pres. only makes about $200,000 a year and the national debt is in the trillions.
2006-07-20 07:05:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
No. The national debt is so monumental that there is really no way to even understand a number so large. The President really doesnt earn that much. Arnold Schwartsnegger doesnt accept his salary as govenor of "Kalifornia", and it makes no difference to the budget. I wish there was a law prohibiting rich people in office from receiving a salary at all. Let them really be "servants" of the public, not aristocrates. And make them pay for their own travel, etc.
2006-07-20 07:05:34 · answer #7 · answered by jack f 7 · 0⤊ 0⤋
The president's salary is $400,000. He would be contributing perhaps $200,000 towards $8,400,000,000,000 dollars in debt. It wouldn't make much of a dent. Even Bill Gates couldn't make a dent in that kind of number.
If all 300,000,000 Americans contributed $28,000, that would just about do it. I think we just need a balanced budget amendment. It's a more feasible option.
2006-07-20 07:07:52 · answer #8 · answered by foofoo19472 3 · 0⤊ 0⤋
There a way more people who make waaaay more money than the president. Those are the people who should be giving money to the deficit.....The president of this country is up in the tax bracket where half his check is sucked up in taxes as it is.
2006-07-20 07:03:52 · answer #9 · answered by akebhart 4 · 0⤊ 0⤋
Do some doggone research before you post a blathering incorrect question. Besides, how much good would $100,000 do towards the trillions of dollars of debt we are in. Nice work, GW. We had a surplus when you came into office.
2006-07-20 07:05:22 · answer #10 · answered by Meredith L 4 · 0⤊ 0⤋
The debt. is in Trillions and the intrest alone is over 1 billion dollars a day. So why take his money which is only $500,000 per year or so and then he will be on wel-fare and taxes will have to support him.. lol
2006-07-20 07:04:56 · answer #11 · answered by The King of All Answerer's 4 · 0⤊ 0⤋