Gerald Ford on Corporations

President of the U.S., 1974-1977; Republican Rep. (MI)


Joined corporate boards; new precedent for ex-presidents

When Harry Truman left the office of the presidency in 1953, he was so poor that he moved into his mother-in-law's house in Missouri. For a long time, former presidents tended to recede from public and commercial life. This practice started changing with Gerald Ford joining the boards of American Express and 20th Century Fox after leaving office in 1977, and it has mushroomed ever since. Bill Clinton has amassed $105 million in speaking fees since leaving office. George W. Bush has collected a relatively modest $15 million. The going rate for one of the former presidents is $150,000 to $200,000 for a speaking engagement plus various expenses

The irony is that back in 1958, Congress felt so bad for Harry Truman that they passed the Former Presidents Act, which authorized a lifetime pension that today pays former presidents $250,000 a year and gives them a budget for staff, insurance, & the like. The money-making activities of former presidents surged after we started taking care of them.

Source: The War on Normal People, by Andrew Yang, p.205-6 , Apr 2, 2019

Reduce corporate tax rate from 48% to 46%

Our most pressing need today and the future is more jobs--productive, permanent jobs created by a thriving economy. We must revise our tax system both to ease the burden of heavy taxation and to encourage the investment necessary for the creation of productive jobs.

Earlier this month I proposed a permanent income tax reduction of $10 billion below current levels, including raising the personal exemption from $750 to $1,000. I also recommended a series of measures to stimulate investment, such as accelerated depreciation for new plants and equipment in areas of high unemployment, a reduction in the corporate tax rate from 48% to 46%, and eliminating the present double taxation of dividends.

All the basic trends are good; we are not on the brink of another recession or economic disaster. If we follow prudent policies that encourage productive investment and discourage destructive inflation, we will come out on top.

Source: Pres. Ford's 1977 State of the Union message to Congress , Jan 12, 1977

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Other past presidents on Corporations: Gerald Ford on other issues:
Former Presidents:
Barack Obama(D,2009-2017)
George W. Bush(R,2001-2009)
Bill Clinton(D,1993-2001)
George Bush Sr.(R,1989-1993)
Ronald Reagan(R,1981-1989)
Jimmy Carter(D,1977-1981)
Gerald Ford(R,1974-1977)
Richard Nixon(R,1969-1974)
Lyndon Johnson(D,1963-1969)
John F. Kennedy(D,1961-1963)
Dwight Eisenhower(R,1953-1961)
Harry S Truman(D,1945-1953)

Past Vice Presidents:
V.P.Joseph Biden
V.P.Dick Cheney
V.P.Al Gore
V.P.Dan Quayle
Sen.Bob Dole

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Page last updated: Feb 22, 2022