Biden to earn more in retirement than as president

[mystery-ak]

Biden to earn more in retirement than as president
By
Paul Bedard
July 18, 2024 12:39 pm
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When President Joe Biden finally leaves the White House, he is set to get a pay raise.

Because of his nearly 50 years in federal office, first as a senator, then vice president, and now as president, his pension will be at least $13,000 higher than his current salary of $400,000, according to a National Taxpayers Union Foundation report.

“Joe Biden represents a unique situation. With his long tenure in Congress and subsequent years as vice president and president, Joe Biden stands to benefit significantly from both systems, potentially receiving a combined payout starting at around $413,000,” said NTUF’s Demian Brady, vice president of research.

He encouraged Capitol Hill to “reexamine” the loopholes that allow for double-dipping into generous taxpayer-funded pension programs.

Here’s how Biden would benefit, if he quit this year as Democrats want, or served a second term by beating former President Donald Trump in the fall.

Once Biden leaves office, he will get a $166,000 congressional pension and an executive branch pension of $246,400, Brady said. Naturally, taxpayers are forced to cough up annual cost-of-living increases.

Biden is currently worth about $9 million.

Brady said the pension program was not created for rich politicians, but they are the ones who are cashing in on it.

“The presidential pension system was originally designed for an allegedly down-on-his-luck Harry Truman. In this day and age, taxpayers are providing substantial subsidies to ex-president millionaires, and one billionaire,” Brady said.

https://www.washingtonexaminer.com/news/washington-secrets/3089121/biden-to-earn-more-in-retirement-than-as-president/

[mountaineer]

He won't be getting his 10% from Hunter's deals, though, so his income may go down. When he's no longer Senator, VP or President, there's no more influence to peddle to the highest foreign bidder.

[rustynail]

That's a lot of ice cream and depends.

[Wingnut]

That's a lot of ice cream and depends.

and Hookers and blow for Hunter.

[mountaineer]

Wouldn't it be wild if Hunter actually had to get a real job for the first time in his life?

[Maj. Bill Martin]

I notice that Joe didn't do anything about this during his first three and a half years in office....

[Wingnut]

The actuary tables are in the taxpayers favor with Joe's comorbidities.