Obama's Perks: Private Jet, Chef Tax-Free

Feb. 5, 2009— -- America's CEOs are coming under fire these days not just for their hefty salaries but also for their use of private jets, limos with drivers and free trips to posh resorts.

But they aren't alone in living this lavish lifestyle -- the president of United States gets all these perks and more.

And unlike some of his Cabinet appointments, he doesn't have to pay taxes on these benefits.

It might be a bit of a stretch to compare today's corporate titans with the commander in chief, but some Wall Street bloggers clearly upset with President Obama's attempts to rein in executive pay are doing just that.

"Some accountability needs to be put in place. We won't have them kicking sand in the face of taxpayers any longer," said one private equity worker on Dealbreaker.com, a Wall Street gossip site and blog.

The president makes $400,000 a year, but hasn't received a raise from Congress since 2001. He also gets a $50,000 annual entertainment expense account (any unused money at the end of the year must go back to the Treasury.)

Then there is the use of two private jets, Boeing 747s better known as Air Force One. And of course the constant security details, drivers, a private chef, a country vacation estate and the rent-free use of a well-known, 132-room mansion called the White House.

The president also used to have a yacht, until Jimmy Carter sold it.

But not everything is a freebie for the president and his family.

The Obamas have to pay for all their own groceries, drinks, dry cleaning and even their toothpaste. All of those personal items get taken out of his salary. Granted, the private chef then prepares dinner using those groceries.

The president's salary and perks have come under the spotlight since Sen. Claire McCaskill, D-Mo., introduced a bill that would cap annual executive pay at companies receiving government bailout money at $400,000.

Corporate America quickly pointed out that while the president also only makes $400,000 a year, he gets all sorts of extra perks and doesn't have to pay taxes on them.