So the United States has a new President and there is huge furor in the press about the first colored President of the United States. There is huge interest in the world over as each country/business is keenly looking forward to the "change" in policies that the new President may bring in - a mix of fear and anticipation.
Talking to my dad, I got to know the immense interest in the Indian politics and market about the same. In the same vein I read an interesting article comparing the compensation of Obama and our President, stating a factor of ten between the two. Apparently Obama is being paid 2 cr i.e. 16 lakhs per month and our poor President one tenth of the same. I couldn't help but laugh at the sheer prospect of comparing the two figures. Its utterly stupid on two counts - economical and value-added work. I wont argue much on the later as it is quite self evident but to do a direct multiplication by a factor of 50 is insane. One needs to compare a lot of factors before comparing the real value of the money whether in $s or Rs. Money parity is an important factor which people particularly Indians forget before comparing the dollar value of anything. Its essential to take into account the living costs, taxes, insurance etc before a sensible comparison can be made.
I am not denying that $400k is a decent sum by any means but, I think the leader does deserve this paltry sum to maintain a standard in line with the job he needs to carry out. I just wish that he makes good use of the power, money at his disposal to pull out the economy out of the recession it is heading into.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment