$73/Hour Bailout

Amanda Carpenter
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Posted: Nov 17, 2008 10:57 AM
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Detroit hasn't been making cars people want to buy and was catering to Big Labor demands long before the mortgage crisis hit.  It's no wonder why they aren't competitive anymore. (I say this as a Flint, Michigan native.)

Mark Perry of the wonderful Carpe Diem blog put together this chart showing the inflated wages the Big Three automakers pay over their competitors. Big Three union workers, with their gold-plated health care plans, make about $73 an hour in total compensation.  And, now they're begging Washington for a bailout before they even think about negotiating with the UAW.

It's been said before, but it's worth repeating. GM and all the rest aren't car manufacturers anymore. They're health care providers who occasionally crank out a car down the assembly lines. It's unfair for them to shake down Washington for tax dollars to meet their unfunded liabilities. That means millions of American who can't afford health care themselves are going to be obligated to keep the $73 an hour union workers on their top-notch plans.