Of your while list , digger, recall the troops is the only thing the President would actually have power to do. The President can't add new states to the Union, nor can he legalize drugs, disavow the second amendment, give health care to everyone, legalize gay marriages, give free homes (which I'm not even sure how you could say that is remotely the government's job), set fuel standards, or pass laws effecting the other branches of government. Also,
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Elected officials will earn the federal hourly minimum wage. Watch the minimum wage go up, fast. The President will not earn a salary but be housed, clothed and fed and have a weekly stipend.
Most politicians are already rich when they are elected to office, their salary is mostly a bonus for them. Aside from that, wouldn't you be encouraging corruption since politicians would now feel more "strapped for cash"?
I seriously hope the previous posters in this thread aren't serious (well, at least haven't given much thought to their policies), and it seems odd that most people would claim to be opposed to authoritarianism, but if given the option, you all seem pretty eager to become the "benevolent dictator" (which after a short time becomes the "evil dictator") with the goal of forcing your ideas on everyone else in the country.