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December 17, 2007

Wages Falling Further And Further Behind

-- by Dave Johnson

Regular people's wages are stagnant and falling behind. On top of that there are debates over whether inflation is back, or maybe we're heading into a period of deflation.

Here's what I know. I work free-lance so my pay varies. But my wife works in a 9-to-five job and gets a raise every year. And every year the amount taken out of her paycheck to cover her health insurance co-pay goes up more than her raise. The result is that every year my wife's take-home is lower.

And this cut in take-home pay happens before we pay for the medicine co-pay increases, the rent increases, car insurance increases, food price increases, gas price increases, home electric and heating increases, cable TV increases, etc. Whether there is "core inflation" or not this is what is happening in OUR house. And I am sure this is what is happening in a lot of other people's family budget as well.

Posted by Dave Johnson at December 17, 2007 10:29 AM

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