THE CAUSE OF THE U.S. UNEMPLOYMENT CRISIS

[Joanne98]

Run time: 04:45 https://www.youtube.com/watch?v=RHdJ1BMX7rQ   Posted on YouTube: June 19, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: June 19, 2009 By DU Member: Joanne98 Views on DU: 958

 

[Billy Burnett]

1. Is that $75 an hour UAW wage number accurate?

I thought that it had been debunked, and that figure is arrived at by dividing all of the UAW's legacy benefits of the retired workers (and all other payouts and expenses) by the number of current UAW employees.

Seem to remember reading many threads on that.

:hi:

[Joanne98]

2. No but I posted it anyway because it got the free market theory right.

That 75$ an hour figure included benefits for retirees.

[BeatleBoot]

3. Difference between Raw Cost and Burdened Cost

Raw cost is basically the salary one earns and UAW workers do not make $ 75 per hour as the OP states.

The companies record burdened cost which includes fringe and labor overhead at a rate unique to the companies cost structure. After these wraps are applied, maybe $ 75 an hour, but that is not take home pay before taxes.

And I agree that the $75 per hour (if at all accurate) would have to include the cost of retiree benefits.

UAW folks making $75 per hour is pure bullshit. It's a lot less.

That said, great video.

[edc]

4. If GM auto workers

actually made a hundred grand after taxes ($75 per hour), and they don't. Why would they consider themselves over paid or apologize? Such wages would only harm obscene CEO compensation and investor profits. (They never consider themselves overpaid and would certainly never apologize for stealing all they can). Reducing their incomes would do nothing more harmful than to greatly improve the economy, the tax base, the savings rate and the standard of living for everyone else.