Effective tax rate of 23.64%. He's very nearly in the 1% as far as yearly wages go, probably is when you calculate his total net worth. He paid $146k in taxes, more than some people will pay in their whole lifetime.
this post was submitted on 16 Apr 2024
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He's in the top 5%-2% of income, with the 1% starting at 800k or so.
He's worth about 10 million dollars.
The 1% of Networth begins around 10 billion dollars.
By income He's near the top, but definitely not near the top of net worth. I'm guessing the income statistics get skewed by the fact that usually the ultra wealthy don't take most of their wealth growth as income.
That's actually not a lot for being the president. Tons of CEOs are making like 100x that lol.
400k of that is just from the Presidential salary. Which is way higher than I recall from when I learned about it in high school (iirc shit was only 100k/year).
Probably keeps up with inflation better than the min wage.
Yeah it's been going up. Makes sense. Arguably not enough for how much stress that job is. Of course it comes with a free house and that has a bowling alley in it, and escape hatches for hookers.
The reason politicians should have good salaries is that it should dissuade them from being attracted by bribes or other kinds of corruption. Of course, some peoples' greed knows no bounds.
And frankly, I'd much rather see public servants rake in big money than the 0.1% "businessmen".
The real money from the presidency comes after which is when they get paid millions in speaking fees to take advantage of connections.
There's a real chance that if he wins, he dies naturally in office.
Seems very modest for the most powerful positon on earth
I'm of two minds here. I don't think anyone for any reason should be allowed to earn over a half million per year. But also there are people whose positions are far less important who have earnings significantly higher than this.
The carryover effect of an economic system that that has catastrophically imbalanced wealth distribution means that in order for actually qualified people occupying roles that are important, you need to compensate them at a very high rate.
I generally agree with you, but half a mil is peanuts and those aren't the people I think we should be eating. I think something in the 5-10m range is where we should be taking 90% of it or something. But yeah, you need to pay leaders enough for the job to be worth doing, because the goodness of one's heart doesn't provide unfortunately.
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