Why? I think it should be other way around

We shall only pay $1 annual salary to president.

Enough people want to be president.

It's market economy, isn't it?

Helps reduce government debt.

Brilliant people should be able to make money from business. If anybody who cannot make a living from business, but want to get rich by being a president, how likely he is a capable president?

Brilliant people don't care about salary.