“Is it right to tax the average worker making $28.50 to bailout workers whose labor cost is over $73 an hour?” Perry asked. “
Wow, what a play on words. In reality, the $28.50 earner actually costs $60 per hour and that is the actual number that should be used for the comparison. Yes, there is a disconnect, however it is not as sensational as the headline and the article are trying to imply.
Toyota, Honda and Nissan come in at around $48 an hour w/benefits, whereas, the Big 3 Automakers come in at $73 an hour w/ benefits. I am using only statistics and figures for U.S. plants.
If you allow unions to extort your company and drive labor costs up 50% more than the competition, you deserve to go bankrupt. I am against any bailout and especially if unions are not going to leave the game. When the financial sector bailout became a reality, my first thought was, “where will it end?”.
Everyone has their hand out now and the line will get longer as time passes.
“Wow, what a play on words. In reality, the $28.50 earner actually costs $60 per hour...”
Actually, it appears that the average of $28.50 per hour quoted in the article includes benefits:
“’Using Bureau of Labor Statistics numbers, the average compensation for manufacturing workers is around $31.50, and the average hourly compensation, including benefits, for the average worker in the U.S. economy is around $28.50,’ Perry told CNSNews.com.”
As well, it was pointed out that foreign auto manufacturers in the US pay total compensation packages around $43 per hour. That's only about 60% of what the “Big” Three are paying.
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