I have been thinking about this for awhile now because my salary peaked around the summer of 2008 and I've lost over 30% to paycuts since then.
I really think pay cuts for politicians is way overdue. Particularly the conservative variety.
I believe that their total compensation should be tied to the median income of the people they represent.
For instance the median income for a white collar worker in Lousiana is 44K give or take. A white collar worker usually has no guaranteed pension. Just a 401k.
They for the most part have their employers pay 100% of their health insurance. Most white collar employers to not provide health coverage for dependents. The workers have to cover it out of their salaries.
Of course this would amount to a 55 % or 60% cut for Mssrs. Vitter and Scalise. How about if we phase it in over 2 years?
I think Sen. Vitter and Rep. Scalise ought to take my proposal and run with it! Introduce legislation along those lines in Congress. Voluntarily abide by it until it is signed into law by the president.
Then maybe they could persuade their colleagues in Baton Rouge to implement a similar plan state wide based on each individual parish.
Afterall, for several years now, conservative economists and politicians have blamed high unemployment on the purported fact that many Americans have priced themselves out of the global jobs market.
So if we want more jobs, they say, we'll need to take wage and benefit cuts.
And that's exactly what Americans have been doing.
Private sector workers are taking home 30 to 50 % less than they did years ago.
Conservatives say it's not enough.
Conservative economists and the david vitters and steve scalises of the world have got it all wrong.
The underlying problem isn't that so many Americans have priced themselves out of the global labor market.
It's that they're getting a smaller and smaller share of the American pie.
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