Quote:
Originally Posted by Pete
Welfare State: Handouts Make Up One-Third of U.S. Wages
http://www.cnbc.com/id/41969508
"Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement......................."
While this story covers everything I'll bet including government pensions I'll like to remake a point I made a couple of years back about the bailouts.
"Create or save jobs"???????????????
They took the money to pay teachers and other public sector workers pay raises - like out in CA. Thats why Obama wants more education money in the buget. It's to continue to pay for the raises. When the federal government has to stop paying those public sector workers are going to take a huge hit.
The house of cards is getting a bit shakey. |
Inflationary wage/price spiral incoming.
Those who produce (private sector) goods and services will demand higher
after-tax wage rates.
Given that there will be few of them (percentage-wise), they will be in a position to make such demands.