As you can see, real wages have been little changed for more than 46 years, increasing a minuscule 2.7 percent during that period.Yes, Tea Partier, all of this is because of Obamacare. Seriously, why in the fuck do people think the U.S. has the world's best health care? Because we pay so Goddamn much for it? We need national health care. If we really wanted to spur the entrepreneurial spirit [buzzword], we'd break the connection between health insurance and employment, and we'd break the connection between health care and health insurance. That would free people up to take risks, but, unfortunately, in this country that is seen as socialism.
Now look at the blue line: this is total compensation. During the same 46-plus years, this rose 61 percent. Total comp includes wages, various worker benefits such as matching 401(k) contributions, health insurance, disability insurance, paid vacation and leave plus any employer-paid taxes. “These benefits are now a substantial part of the cost of an employee – and they appear to be growing,” according to the Federal Reserve Bank of St. Louis, which compiled the data.
It isn't a stretch to surmise that most employees don't really appreciate how substantial this non-wage compensation is; nor do they realize how much health-care costs, the biggest part of their non-wage compensation, have risen.
Thursday, September 29, 2016
Health Insurance Ate Your Raise