I invest over 31 % of my gross earnings to a 401K, and two IRA's, one obviously a ROTH.
On the earnings side, not so good. A single 25 cent raise in the last 9 years. Health care premiums went up 400 % in that time as well (not that I have kept health care, I haven't).
On the bright side, after 28 years on the job, one company bought out, and among the lucky dozen to go to the new location, I have made the lower tier of this chart.
So wages are up slightly. Is any of it credible considering we live in an economic system where the government borrows hand over fist year by year. Wouldn't gains be more "real" if we did it in an economic system where we had a balanced budget? Are these gains made in the short term in real earnings at a sacrifice to future workers earnings, who will have to be paying this debt back?
GDP is certainly not growing as fast as the debt is.
I invest over 31 % of my gross earnings to a 401K, and two IRA's, one obviously a ROTH.
ReplyDeleteOn the earnings side, not so good. A single 25 cent raise in the last 9 years. Health care premiums went up 400 % in that time as well (not that I have kept health care, I haven't).
On the bright side, after 28 years on the job, one company bought out, and among the lucky dozen to go to the new location, I have made the lower tier of this chart.
So wages are up slightly. Is any of it credible considering we live in an economic system where the government borrows hand over fist year by year. Wouldn't gains be more "real" if we did it in an economic system where we had a balanced budget? Are these gains made in the short term in real earnings at a sacrifice to future workers earnings, who will have to be paying this debt back?
ReplyDeleteGDP is certainly not growing as fast as the debt is.