Results 1 to 4 of 4

Thread: Anyone take a look at Google's Schmidt's middle class wage increase challenge?

Threaded View

  1. #1
    Join Date
    Sep 2007
    Location
    New England
    Posts
    2,774

    Default Anyone take a look at Google's Schmidt's middle class wage increase challenge?

    Goal is to raise 100,000 middle class workers' salaries by $10k each by end of 2021. They just extended the date to December. Here are the details.

    Looking through it, though, I realized the goal covers total compensation. If healthcare costs rise by about 8% per year on an average cost family plan, you're halfway there. Get about a 3% inflation rate too on a $50k salary, and you just might be able meet the goal without increasing real wages at all. Cynic in me wants to copy/paste standard union contract with 3% annual wages and submit it as my "unicorn idea."

    But it is another interesting way to look at why wages never go up in America. It can easily cost a billion more to employ 100,000 people at median wage with constant health benefits by the end of 2021 than it does today, and all that without employees seeing any real benefit from it whatsoever. Maybe half of that will be eaten by inflation. The rest will be sucked into the voracious maw of the healthcare sector. A broken arm will cost double what it does today in 10 years, and costs double today what it did 10 years ago. And it's the same x-ray and 5 minute application of a roll of shitty fiberglass that it has been for 40 years.

    In so many ways, the central problem of the American economy is healthcare. We've got to get off this merry-go-round and make the madness end. We're so addicted to the market, or even illusions of the market, that we're willing to sacrifice all our upward mobility and discretionary income to it. It's madness.
    Last edited by dcarrigg; 11-17-18 at 02:19 PM.

Similar Threads

  1. Bye Bye Middle class..............
    By Mega in forum Mega
    Replies: 1
    Last Post: 08-24-13, 10:31 AM
  2. The vanishing middle class.
    By LargoWinch in forum News
    Replies: 10
    Last Post: 07-13-09, 06:25 PM
  3. Inflation without Wage Increase
    By sishya in forum News
    Replies: 9
    Last Post: 07-01-09, 01:40 PM

Bookmarks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Opinions expressed herein are those of the posters, not those of iTulip, Inc., its owners, or management. All material posted on this board becomes the intellectual property of the poster and iTulip, Inc., and may not be reposted in full on another website without the express written permission of iTulip, Inc. By exception, the original registered iTulip member who authored a post may repost his or her own material on other sites. Permission is hereby granted to repost brief excerpts of material from this forum on other websites provided that attribution and a link to the source is included with the reposted material.

Nothing on this website is intended or should be construed as investment advice. It is intended to be used for informational and entertainment purposes only. We reserve the right to make changes, including change in price, content, description, terms, etc. at any time without notice. By using this board you agree that you understand the risks of trading, and are solely responsible for your own investment and trading decisions. Read full legal disclaimer.

Journalists are not permitted to contact iTulip members through this forum's email and personal messaging services without written permission from iTulip, Inc. Requests for permission may be made via Contact Us.

Objectionable posts may be reported to the board administrators via Contact Us.

-->