Please note that US President has to pay taxes on his salary and it cannot be increased during the tenure unlike the C-in-C ie President of India who gets tax free salary his/her salary can be increased during his/her term. ** *C-in-C gets just $400,000 a year*
Washington: The annual salary of US president Barack Obama is $400,000 per annum, unlike many of the corporate executives from the Wall Street, whose annual salary runs into millions. In addition to his taxable income of $400,000, Obama also receives additional allowance of $50,000 which is not taxable and is used for official purposes only. At the current salary rate, he would receive a pension of $199,700 per annum. It was on September 29, 1999 the then US president Bill Clinton had signed into law a legislation passed by both the Chambers of the US Congress to increase the salary of the US president from $2000,000. The doubling of the salary of the US president was done after a gap of 30 years. Under US laws, Obama’s salary in his current term cannot be increased. Any legislation to increase Obama’s salary would have to have been enacted prior to his swearing-in. The president’s salary was established in 1789, when it was $25,000 and has been adjusted five times since then. PTI -- To unsubscribe, reply using "remove me" as the subject.
