How much do you think the President of the united states make in a typical year? You will be surprised... For comparison CEO of Exxon made about $8million including stock exercise in 2008
This is a very interesting analysis at the dealbreaker website
Cash Compensation:
Salary: $400,000
Cash Subtotal: $400,000
Room and Board:
55,000 square foot mansion, in historic Washington, D.C.: @ $100/sqft: $5,500,000/yr
Personal Chef / Kitchen Staff: $300,000 / year
Other Servants / Attendants: $500,000 / year
Subtotal: $6,300,000
Discretionary Use Of Private Aircraft:
(One of 2 Boeing 747-200Bs "Air Force One"):
Annual Costs: 120 hours @ $65,000/hr: $7,800,000
Annual Costs: 700 hours @ $65,000/hr: $45,500,000
Helicopter Fleet:
Annual Costs: 50 hours @ $5200/hr: $260,000
Aircraft Subtotal: $8,060,000
Aircraft Subtotal: $45,760,000
Other Personnel:
Personal Driver On Retainer (Defensive Tactical Driving Trained) @ $300/day $109,500
Personal Body Guards 35 @ $500/day $6,387,500
Use Of Personal Car 60 days @ $2000/day $120,000
Personnel Subtotal: $6,617,000
Annual Benefits Total: $59,077,000
Four Years of Same: $236,308,000
Pension And Related Benefits:
Present value of Pension Benefits ($200,000 per year): $2,251,556
Total Benefits: $238,559,556
Average Annual Benefits: $59,639,889
Also, think we need to strongly consider "pay for performance" here. This is a lot of compensation and I think clawbacks if the executive fails to pull us out of this recession are called for. I propose we institute a temporary "efficiency in government court" empowered to enforce pay for performance in the executive branch. The time to reward these employees for non-performance is over. Some accountability needs to be put in place. We won't have them kicking sand in the face of taxpayers any longer.
And, by the way this is underestimation, since a lot benefits like retirement benefits, vacation benefits, use of other expensive items etc. are not included here. So, CEO of Exxon makes $8 million in compensation, while the president makes $59 million. and, he wants to cap CEO excess? He should first cap his own...
