Thursday, January 19, 2006

4 Peanuts

President's annual salary adjusted to $2.5 million

PARLIAMENT has approved an increase in the President's salary, which is also known as the Privy Purse, for the fiscal year 2005.

The salary will be revised to $2,507,200, an increase of $114,900 from the last adjustment in February last year.

A Ministry of Finance spokesperson said that the bonuses are higher because the economy has performed better than expected.

One month before that, Parliament had approved a $247,100 wage rise for the President, also in view of the restoration of cuts to his salary as well as higher projected bonuses.

In both those instances, changes had also been made to the other provisions under the Civil List, which specifies his allowance, the expenses of the Istana and the salaries of personal staff.

No other changes were proposed on Tuesday. The total expenditure in Class 1 of the Act, which consists of the Privy Purse, entertainment allowance and the Acting President's allowance, now stands at $2,627,800.

Anyone needs a godfather?


Roughly 4 peanuts.
Now, i know why that who-who-who wife say $600k is a peasnut. Its really peasnut to them...

Thats about 200k per month..wonder what he needs to pay ...i think no need pay electricity, transport, food? Its almost everything for leisure!

Maybe my humble calculations can justify his pay. .
Postulate 1: Knowledge is power.
Postulate 2: Time is money.

As every engineer knows:
Power = Work/Time

And since
Knowledge = Power and Time = Money

It is therefore true that
Knowledge = Work/Money.

Solving for Money, we get:
Money = Work/Knowledge

Thus, as Knowledge approaches zero, Money approaches infinity, regardless of the amount of work done. .agree?

And for those interested to know...the comparsions in pay....

PRESIDENT GEORGE BUSH - $400,000.00 (0.4 mil)

PRESIDENT NATHAN - $2,500,000.00 (2.5 mil)

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