And the President isn't? How did Obama buy that mansion in Hawaii? Do you honestly think he only earns his "public salary".
Exactly. A king with a different name.
A president is a government employee. It's a matter of personal opinion if a tax payer is getting their money's worth out of a government employee. A president's job, even if one considers them a bad president, is not an easy one.
There's no equivalence between a democratically elected president and a King/Queen who is just born into the position and doesn't do any actual work.
The Royal family could be eliminated and have no effect on the country other than getting rid of more dead weight. If we got rid of the President, the Senate, the Congress, the Governors and all Federal and State employees that are funded by the tax payers I think it would probably make a difference.