Ritholtz:
As you can see, real wages have been little changed for more than 46
years, increasing a minuscule 2.7 percent during that period.
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.
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.
Uh, because what you are suggesting is socialism and throughout history it has failed every single time. Of course it is always blamed on the people failing to execute it properly versus the system itself but the record speaks for itself. Also for the record, the US does have the best healthcare. Anyone who says otherwise just needs to get out more. A good start would be talking to an American who has moved to Canada. Ask them what happens when you miss an appointment that had you waiting 6 weeks already. Back of the line buddy! I always see France being held up as having great healthcare. What is funny is that if you talk to someone from France they all have private insurance if they can afford it because the government system sucks. Be careful what you wish for and don’t believe everything you read on the Internet.
ReplyDeleteMost expensive does not equate to best.
ReplyDelete