This week, the White House announced that President Barack Obama would give five percent of his Salary back to the U.S. Treasury, as of March 1. Surely, with an Annual Salary of $400M, that $20M would be hardly felt–and its tax-deductible, as well. Perhaps twenty percent would have been a more meaningful amount. (Hey, it’s your money…not mine!) And, you do get free Housing, Meals, Health Benefits and many (if not all) Travel Expenses, to boot. That’s a gem of a package!
I do applaud you, however, and Mr. Biden and several Cabinet Members for making such donations–either back to the Treasury or to Charity (hopefully different than they normally give to), but all of those noted (except for Napolitano) are already Millionaires. And, then, when any of your terms are over: high-paid job offers; lobbying options: speaking engagements: corporate board memberships: etc. will be rolling-in. So, your giving-up $20M, even for four years, certainly won’t curb your lifestyle.
Now, I realize that your salary cannot be actually changed; because it has been set by an Act of Congress. But, it can be done on an after-the-fact basis, as you are doing. But, when will the Senate and House be asked to make similar pay-backs. Most of them are fairly well-off anyway.
The Average American seems to be confused as to how they can get a job in the Capital. Congress gets paid fairly well, has Cadillac Health Care and many other Perks. But, most of all, they seem to take as many days off as they actually work. Perhaps the Motto for them, during Sequestration, should be: “No Work, No Pay”.