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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (439243)	12/8/2008 10:00:11 PM
From: i-node	Read Replies (2) \| Respond to of 1574094

Contrary to an often-repeated myth, UAW members at GM, Ford and Chrysler are not paid $73 an hour. The truth is, wages for UAW members range from about $14 per hour for newly hired workers to $28 per hour for assemblers. The $73 an hour figure is outdated and inaccurate. It includes not only the costs of health care, pensions and other compensation for current workers, but also includes the costs of pensions and health care for all of the retired workers, spread out over the active workforce. Obviously, active workers do not receive any of this compensation, so it is simply not accurate to describe it as part of their "earnings." Here's the problem with this bogus argument put forth by ignorant liberals: If you DON'T count the payments to retirees as labor cost, those payments simply fall through the cracks and are NEVER considered as labor costs, even though they clearly are amounts paid to workers. Whether they're current employees or future retirees, it just doesn't matter. RW is totally ignorant about basic accounting and has proven this when arguing about SS, and here we have precisely the same kind of issue that he is totally confused by.