Gary Hooser continues to pick the low hanging fruit. In Oct. 4, 2017 commentary, Corporate Greed is the culprit, refusing to pay a “living wage.” It’s odd that this corporate model of “Sustainability” seems to always be the target of
Gary Hooser continues to pick the low hanging fruit. In Oct. 4, 2017 commentary, Corporate Greed is the culprit, refusing to pay a “living wage.” It’s odd that this corporate model of “Sustainability” seems to always be the target of those who know better.
Business training begins with the goal of “Break-Even.” If any business, person, family or government can “Break-Even,” they can pay their bills with their income. That’s “Break-Even.” If income exceeds expense, you’re ahead, with a “profit.” If expenses exceed income, you have to do without, or borrow the difference. The later is not sustainable.
Now, Gary has a lot of government experience spending more money that is collected. If we could all earn the wages and benefits that Federal, State, and Kauai employees enjoy, we’d enjoy the “living wage” Gary advocates.
I would like to offer new hires eight weeks paid off, annually, from the date of hire. I would appreciate life-time medical insurance, even after retirement. I would also appreciate generous retirement pay, based on my highest earning years. Successful union negotiations guarantee that level of support to our public sector employees.
To offer that “living wage,” each of our layers of government have had to spend more than is collected in taxes and other use fees, ever since I started paying attention.
Current estimates calculate the shortfall for the Hawaii Employee Retirement System (ERS) to be $12 billion. That’s $12 billion. Another $12 billion is the estimated shortfall of the ERS Medical Insurance fund.
These calculations mean that Hawaii continues to spend more money than they are collecting, to the point of owing our State retirees more than $200,000 per beneficiary, and $20,000 for every citizen; man, woman, and child. That’s how much our promise exceed our income, and the debt continues to increase.
The Corporate employers are struggling to “break-even” with onerous government taxation and regulations. We cannot compete with governments that think they can print money. Hey, they can, for a while, but not forever. Clearly, this model is NOT sustainable!
Sustainability should be a goal for all organizations. For business, that means “break-even,” or better. For governments, that means a “Balanced Budget.”
The alternative is evident in Greece, Venezuela, and Detroit. Gary, tell our retirees that you cannot fund their medical insurance. And, get a job.
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Mike Curtis is a resident of Koloa.
