Former President Donald Trump stated he receives “no credit” for declining his presidential salary, claiming to be the only commander-in-chief to do so. He emphasized that the $400,000 annual salary, totaling $1.6 million per term, is a significant sum. However, historical reports indicate other wealthy presidents like John F. Kennedy and Herbert Hoover donated their salaries to charity.
Former U.S. President Donald Trump recently claimed he gets “no credit” for taking a $0 salary while in office. He asserted he is the only president to have waived the compensation, despite other wealthy individuals holding the position.
Trump stated, “I waived it. I’m the only president that ever waived it.” He emphasized the financial significance, noting the presidential salary is “still a couple of million bucks.” The annual salary is $400,000, amounting to $1.6 million over a four-year term.
The New York Times reported that both John F. Kennedy and Herbert Hoover worked for free indirectly by donating their entire salaries to charity. This contrasts with Trump’s claim of being the only president to forgo the salary.
Leading economist Peter Schiff argued Trump benefited more from his office than a salary. Schiff said, “Trump has made billions exploiting his power as president. Why would he need a salary?”
He characterized the salary waiver as “a publicity stunt to create the false impression that he’s not in it for the money.” Schiff did not specify what he meant by “exploiting his power.” The remarks have sparked discussion among political and financial observers.
