Posted on 05/05/2017 10:27:02 AM PDT by Textide
Congress could soon throw a monkey-wrench into Barack Obama's retirement finances, yanking his presidential pension since he is reportedly cashing in with six-figure speaking fees.
Former presidents currently receive $207,800 per year, the same amount cabinet secretaries are paid.
But lawmakers are considering a move to shrink that payment – dollar for dollar – for Oval Office retirees who collect more than $400,000 in income.
Last year Obama vetoed a bill that did just that.
(Excerpt) Read more at dailymail.co.uk ...
I am sure that they cannot do this retroactively. Obozo will sue, and he will win.
Either this or introduce a 99% tax hike on speaking fees for former government officials.
Like that’s hard to get around. They really gotta get over the pettiness, yes former presidents (or the corporation they created that shares their name and pays all their bills but legally isn’t them and none of that is income) get fat cash for speaking engagements. That’s how things work.
Not going to happen. The Democrats who were all for it when Obama was President and Bush was the one getting speaking fees will all vote against it now that Obama is the one getting speaking fees.
Same rule should apply to congress.
Similar to salary/benefit changes (upward) for Congress critters. Those changes take effect for the Congress that begins after the next election.
Sure they can. Call it a tax. The Supreme Court will approve anything if you call it a tax.
Small price to pay this Communist fiend for leaving office.
>>I am sure that they cannot do this retroactively. Obozo will sue, and he will win.<<
At first I was going to say otherwise, but I thought about it and he has a dead-bang winner argument: “I would not have taken the engagement had this rule existed.”
But you KNOW the line of access-buyers (ex-POTUS still has a LOT of clout) is still out the door. This will be a tiny crimp in his future income. Tiny but somewhat satisfying.
It should extend to ALL ex-government officials who get a pension (ahem *hiLIARy*).
I think they have laws preventing officials from taking jobs in industries they oversaw. Perhaps they could consider a fee equaling more than the average salary paid by that company to be the equivalent of employment.
In either case, the issue of after-the-fact would apply.
A tax, on the other hand, can apply immediately. And it can be an exorbitant tax. It can be called the “avoiding the appearance of lobby connections” tax.
I’d pay him twice as much on the condition that he COULDN’T make speeches.
The article is an outright lie.
It would only apply to future presidents and it won’t pass anyway.
You’re gonna means test a president?
Get real
Thats what needs to be done. Same with “book advances” .
These huge cash payments for doing nothing are little more than retroactive bribe payments for services rendered while in office.
Not one book by Bill or Hillary Clinton ever sold enough copies to produce gross revenues that even come close to covering the huge up front advance payments they gave.
Does anyone really think that Obama’s book will gross 60 million dollars in revenue?
Pure retroactive payment for favors while in office.
Not to mention this was a non-issue with Bubba Clinton.
Oh, and “Ex post Facto”....
This would quickly get into the weeds of ERISA and laws passed to protect pensions generally.
You would basically be cutting the pensions for all the former presidents. While President Bush may not collect $400,000 per speech I’m sure he makes more than $400,000 per year outside his presidential pension. Same with his dad.
US Constitution Article 1, section 9
No Bill of Attainder or ex post facto Law shall be passed.
His argument is kinda iron clad.
It’s a law that should be passed, but it will only effect future retirees from the office. Sucks, but there it is.
..... This just seems a little petty and stupid. Obama served as president and should therefore be qualified to receive the pension. The population of Ex-Presidents in this country is not very large and according to a recent $200 Million study funded by the government .... the population of Ex Presidents is in fact dwindling in America .... Most likely due to global warming. And there is a move to actually have their entire population put on the Endangered Species list.
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