Seeking Liberty

Liberty is the Fruit from Which All Progress Grows

Health Care Hang-Ups

Telecommunications giant AT&T will record a $1 billion charge for the first quarter of 2010 due to the tax implications of the recently passed health care legislation, according to the Atlanta Business Journal. According to the Journal:

In the filing, AT&T added, “As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health care benefits offered by the company.”

So much for helping to rebuild our economy. The tax implications of this bill are already having a detrimental effect on employee compensation and retiree benefits. Before the legislation was even passed, Caterpillar, Inc. sent a letter to members of Congress urging them to vote against this bill, which they estimated would cost the company over $100 million per year. Because America didn’t know fully what was in the bill before it was passed, both small and large businesses are only just now able to start coming to grips with what the legislation really means for them. Read the rest of this entry »

Filed under: economics, health care, insurance, taxes, , , , , , , , , ,

Government Employees are Overpaid

It seems the average Federal Employee earns over $75,000, while the average private sector employee earns less than $40,000. That’s a split of about 80%.

Remember that Federal workers do have a maximum pay level. A G-15 has a maximum “standard” pay level of about $127,000. Depending on where they live, a government employee can earn as much as 35% more than that, topping out at $153,200. An executive tops out at almost $197,000.

In Congress, your congressman or senator has a standard salary of $174,000, and if they are a party leader, their salary increases by $19,000.

So, the average Federal employee works fewer days, has better benefits, gets a taxpayer-funded pension, has incredibly low customer-service ratings and now we find out, is paid almost twice as much. And government employees almost never have to worry about being laid-off. Now the government wants us to fork over more taxes to fund their government health care scheme and pay for their overspending.

And these guys say private businessmen are greedy?

Filed under: Government, socialism, taxes, , ,