Quote:
Originally Posted by spence
The county seat of Will County is the fastest growing city in Illinois.
No, it's math. Let's say your healthcare cost only 10,000 a year. If you're paying 5 wait now 10 percent of that per year the few percent of a 30,000 dollar salary isn't going to mean squat. Even with best case scenarios for wage increases you're not talking a lot more per month…
Does your health insurance cost more? Then you're screwed.
The union deal is with the county and not the state.
And you can't grow if you can't provide basic services to the local economy. If anything this is trickle down economics. Invest in the infrastructure which promotes business growth.
Woa? Does that sound strange…I'll bet it does.
-spence
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"No, it's math. Let's say your healthcare cost only 10,000 a year. If you're paying 5 wait now 10 percent of that per year the few percent of a 30,000 dollar salary isn't going to mean squat."
Using your assumptions, let's say one makes $30,000 a year. Health insurance costs $10,000 a year. And the county is asking that your share of paying for that, increases from 5% to 10% of the cost.
Today, your share of healthcare costs is 5% x $10,000 = $500 a year.
Going forward, your share is 10% x $10,000 = $1,000 a year. So your net pay is reduced by $500 a year, since your out-of-pocket expenses have increased by $500 a year.
Now, at some point (article didn't say how long it would take) your $30,000 salary increases by $14.5%. That is an annual raise of $4,350. That raise is offset by the $500 more a year you pay for healthcare, so the net annual increase is $4,350 - $500 = $3,850.
To someone making $30,000 a year, that increase is certainly not "squat'".
What did I miss, Spence?