Well, finally the truth comes out in the hearing, from Sen. Bob Casey. The Auto workers do not make 73.00 or 75.00 an hour with benefits. A lie spoken enough is taken for truth.
Number two the costs of wages and benefits of the workers amount to 10% of the the car's costs.
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How much do they make?
Let's start with the fact that it's not $70 per hour in wages. According to Kristin Dziczek of the Center for Automative Research -- who was my primary source for the figures you are about to read -- average wages for workers at Chrysler, Ford, and General Motors were just $28 per hour as of 2007. That works out to a little less than $60,000 a year in gross income -- hardly outrageous, particularly when you consider the physical demands of automobile assembly work and the skills most workers must acquire over the course of their careers. [...]
[T]hen what's the source of that $70 hourly figure? It didn't come out of thin air. Analysts came up with it by including the cost of all employer-provided benefits -- namely, health insurance and pensions -- and then dividing by the number of workers. The result, they found, was that benefits for Big Three cost about $42 per hour, per employee. Add that to the wages -- again, $24 per hour -- and you get the $70 figure. Voila.
Except ... notice something weird about this calculation? It's not as if each active worker is getting health benefits and pensions worth $42 per hour. That would come to nearly twice his or her wages. (Talk about gold-plated coverage!) Instead, each active worker is getting benefits equal only to a fraction of that -- probably around $10 per hour, according to estimates from the International Motor Vehicle Program. The number only gets to $70 an hour if you include the cost of benefits for retirees -- in other words, the cost of benefits for other people. [...]
It takes a true Democrat to make the statement that "a lie spoken enough is taken for thr truth". This has been used by the left wing media and Democrats to attack the Bush administration for 8 years and was also used to get their pet Obama elected. Seeing how he has already gone back on so many campaign promises much to the chagrin of the radical left it will be interesting to see how long it takes the main stream media to start pointing these facts out to the public.
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