
Generally speaking, wealthy people are not supposed to be eligible for welfare, and yet many of them routinely take advantage of subsidies and tax breaks not afforded to the rest of us. And boy do they make out like bandits in a financial crisis. Take for instance when the COVID pandemic began. By March of 2020, Congress had passed the CARES Act, designed to put emergency cash into the hands of regular folk, most of whom were under lock-down orders, and unable to pay bills. But, as ProPublica reported, 18 billionaires and hundreds of millionaires received stimulus checks that they didn’t need. We may never be able to reform the corporate welfare system, but there is legislation pending that might slow down the gravy train for ex-commanders-in-chief.
With just a few exceptions, America’s presidents have either entered office wealthy, became that way after leaving, or both. Donald Trump, for example, is reportedly worth over 3 billion dollars, but George Washington was not exactly destitute. In today’s dollars, the Father of Our Country was worth nearly 600 million dollars before he became president. Others who were worth over 100 million dollars included Jefferson, Jackson, Madison, Teddy Roosevelt, and LBJ.
Bill Clinton came to Washington virtually broke, and today is worth over 90 million dollars. Of the other surviving presidents, Obama is close behind with $70 million, George W. Bush is worth $40 million, and poor Jimmy Carter brings up the rear with a net wealth of just $10 million. OK, so what does all this have to do with welfare for the wealthy? A lot as it turns out.
We all know that when a president leaves office, he is still protected by the Secret Service. He sets up and staffs an office wherever he wants. He and his family get to travel extensively. His phone bills and postage are taken care of. He pays hardly anything for his healthcare premiums, and, of course, he receives a generous pension. And while these perks are only currently afforded to five men, nevertheless, taxpayers shell out considerable funds for this elite club of multi-millionaires.
To start with, according to the National Taxpayers Union Foundation, each of our surviving presidents are paid over $221,400 per year for the rest of their lives. They each receive up to one million dollars per year for travel, and we give them $150,000 per year for staffing an office (that drops to a paltry $96,000 annually after the first 30 months). And what about those offices? George W. Bush spends $434,000 of our money to operate his office, while Bill Clinton hits us up for $579,000 each year just for office rent. We also reimbursed Bush for his $80,000 phone bill, and Jimmy Carter for his $15,000 in postage. Meanwhile, the budget for lifetime Secret Service protection has not been published, but you can bet it’s into the millions each year.
The origin of these taxpayer-funded perks came about in 1958 when Congress decided to subsidize Harry Truman’s retirement. That’s because Truman was virtually broke when he left office, so no one squawked at easing his burden. The problem is that Truman’s financial situation would have nothing in common with any of his successors. All those who followed Harry were multi-millionaires with an unlimited capacity for making money off of their name. Bill Clinton, for example, was paid $500,000 for making one speech, and he and Hillary together have pocketed over 150 million dollars in speaking fees between 2001 and 2015. Obama once earned $400,000 for a single speech, and he and Michelle received a 65 million dollar advance for a book deal.
The point is that anyone who makes a half-million dollars for one speech is not in need of government welfare. Enter Utah Congressman Jason Chaffetz, who, in 2016, introduced the Presidential Allowance Modernization Act which would have capped taxpayer-funded perks, and reduced them by one dollar for every dollar of gross income over $400,000. The bill as proposed garnered little support, nor did a later version, which was introduced in May 2019. Then, last month, Rep. Joni Ernst of Iowa revived the original bill, and on February 17 it was referred to the Committee on Homeland Security and Governmental Affairs, where it is awaiting action by the Senate. But even if the bill passes, it doesn’t go far enough in limiting perks for ex-presidents. Moreover, it doesn’t extend to presidential cabinet secretaries and other high-level West Wing staff, most of whom are also wealthy and receive handsome government subsidies in retirement.
The bottom line is this. If you’re a former president worth 70 million dollars, and you make a half-million-dollar per speech, then you don’t need a hand-out from taxpayers. What you need is a reality check.





























Posted March 15, 2022 By Triad TodayToo Many ‘I’s in ‘TEAM’ These Days
I don’t know exactly what year it happened, but somewhere along the way, team sports turned into “ME sports,” and the trend toward toxic individuality has manifested itself in everything from grooming and dress code, to style of play and counterproductive regulations. Actually, this subject has been on my mind for a long time, but it all came back into focus for me while I was watching the ACC Channel’s stellar 10-part documentary on the history of the league tournament. That series dredged up a lot of feelings I had about the importance of tradition in college athletics. I’ll start with my concerns over who is playing the game and for how long.
In speaking with producers of the recent ACC documentary, legendary Duke coach Mike Krzyzewski talked about how the new “one-and-done” era was hurting college basketball. Coach K noted that it takes two to three years to recruit a good player who used to stay in school all four years. Today, though, a coach spends the same amount of time recruiting, but the player leaves college after one year to seek fame and fortune. Team building has given way to “ME building,” which diminishes the importance of the overall mission, makes a sham out of the scholarship system, and denigrates the importance of a college degree.
The “ME first” approach to college basketball has also had an impact on the style of play. In the not-so-olden days, star players weren’t allowed to hog the ball or throw up a shot before the rest of his teammates were in position to rebound. Today many of the “one-and-dones” can routinely be seen flying down the court or running out the shot clock without giving so much as a thought to passing the ball. For those guys, every game seems to be more of an audition for the NBA than it is an opportunity to advance the school’s athletics program. And don’t get me started on the 3-point shot. Beloved sports columnist Bob Ryan believes that the 3-point rule has ruined the sport of basketball, and I agree. It was a gimmick originally invented by Harlem Globetrotters founder Abe Saperstein to enhance the entertainment value of his staged contests, but today it mainly serves as an accomplice to “ME first” players, and an artificial device for putting a game out of reach.
Another contributor to the “ME first” movement in college basketball has to do with hair and grooming, but lest I be accused of having a “get off my lawn” senior moment, consider first the winningest program in college history, and how it got that way. The UCLA Bruins won 11 NCAA championships under head coach John Wooden, and those wins were buoyed by great players, great discipline, and an overriding belief that the team was more important than any one individual, even individuals like Kareem Abdul Jabbar and Bill Walton. To illustrate my point, what follows are comments by Wooden and Walton about what happened on the day Bill returned from summer break, and reported to practice sporting long red locks, in violation of the Coach’s rule that hair could be no longer than two inches in length.
Wooden recalled the moment: “Bill told me he had been the National Player of the Year, that we had just won a national championship, and had been undefeated, and that I didn’t have the right to tell him he couldn’t have long hair. And I said, ‘You’re right Bill. I don’t have that right, but I do have the right to determine who is going to play, and we’re going to miss you this year.’”
Walton completed the story: “So I got on my bicycle and rode as fast as I could to the barber shop in Westwood, jumped in the barber chair, and said ‘just cut it all off.’ Then I rode back to Pauley Pavilion in time for practice.”
Today’s “ME first” players wear their hair any way they wish. They sport as many tattoos as they wish. They wear rings in weird places, and often times wear different color shoes from other teammates. It’s all about personal expression, and very little about personal commitment. But hey, what do you expect when most of the coaches show up for games dressed in sweats instead of a coat and tie.
I’m not suggesting that we go back to a time when the set shot was more prevalent than the jump shot, or when a certain coach from Chapel Hill was allowed to go into an endless “Four Corners” stall. I am, however, suggesting that colleges stop letting scholarship athletes make a mockery out of education. I’m also suggesting that college coaches start acting like coaches, and that means refusing to sign any athlete who won’t commit to staying for four years. And college hoopsters themselves should be required to look, act, and play as a team, and not as five individuals.
It has been said that there is no “i” in “team”. I just wish that was true of “college basketball”.