It is said, “Be careful what you wish for”. For those of you who support the Government taking over the economy and redistributing wealth you need to understand what you are wishing for.
It takes between eight and fifteen private sector employees to pay for one public sector employee. The more government grows the more bureaucracies are created, the more public sector employees added and the fewer private sector employees to pay for those employees. ObamaCare created 158 new bureaucracies. And when the Government confiscates money, filters it through all the bureaucracies about one dollar out of a thousand is distributed. Greece is bankrupt and on the verge of collapse. Their ratio of public to private sector employees is three to one. No matter what austerity measures they take, until they cut the size of government (number of public employees) and increase private sector jobs it is impossible for them to be solvent. American has already paid them $20 BILLION. Why should we pay for their irresponsible behavior?
Those of you who believe more Government is the answer need to realize the salaries, benefits and pensions of public sector employees are paid by taxpayers. Government has no money. Government confiscates money from one group to give to another group. The salaries, benefits and pensions of private sector employees are paid out of profits made by businesses. Any raises or increases in benefits paid to private sector employees are paid because the business they work for provides a product or service people want or need and are wiling to pay for. Everyone profits from that exchange. At this point public employees make about 48% more than comparable private sector employees. Why should a secretary in the private sector pay more taxes to provide a public sector secretary twice as much in salaries and benefits than she gets? Now THAT should make you mad, not the “rich” who have made a profit by providing a product or service that people want or need.
Raises or increases in benefits paid to public sector employees are paid for by increasing taxes or borrowing from our children. The more public sector employees, the higher the taxes on the private sector. Plus most public sector employees pay nothing for their healthcare or pensions. Private sector employees pay at least half of those costs with their employers paying the other half. What that means is the private sector not only pays half their healthcare and pensions, they pay 100% of public employee’s healthcare and pensions. These public sector pensions are mostly unfunded. California has $500 BILLION in unfunded pensions for public employees. The federal employee pensions are unfunded by TRILLIONS. Unless we shrink Government and grow private sector jobs we won’t be able to pay these pensions. You NEED to understand that. Then what will happen?
Margaret Thatcher was correct when she said, “The trouble with socialism is eventually you run out of other people’s money”. If you grow government beyond the 8 to 15 private sector employees to one public sector employee you have run out of other people’s money. Greece has proven Thatcher right. Do you really “wish” for a similar fate?