IXLR8

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

If this guy has a PhD, then I am Einstein.

The $73 is NOT the employee's income, it is the cost to the Company for each hourly employee. This cost includes wages, employment taxes, benefits, AND legacy costs--health care and pensions for up to 1 million people.

Now, if all the posters here wish to kill the pensions for the retirees, fine. The PBGP is already underfunded by about $50 billion, so another taxpayer funded bail out for the PBGP will be required.

Medicare is in crisis due to chronic underfunding. If these 1 million people migrate to Medicare, another taxpayer funded bail out will be required.

It's OK, though. Niot to worry. The Messiah will fix it by taxing the rich.

.