Comments on: Wage Insurance?

By: Flexo

Flexo — Thu, 01 Mar 2007 23:11:27 +0000

I saw an article somewhere (sorry no source) saying it would be paid for by employers, $20 or $25 per employee.

By: Jesse

Jesse — Thu, 01 Mar 2007 22:51:36 +0000

Would participants be required to pay a premium, or would this just be another entitlement?

I’d rather let private markets take care of it, if there’s a market for it.

By: Flexo

Flexo — Thu, 01 Mar 2007 21:36:27 +0000

Hamburger: I’m no policy maker, but using the money to provide education (whether it’s in the same field or a related field for Lazy Man’s software engineers) rather than to cover the wage gap may be better in the long run.

One problem I see with this is it would take more money per employee to provide an education benefit than a wage benefit… it would probably be more expensive, or if it’s a fixed pool of money, fewer people would be able to take advantage of it.

By: Lazy Man and Money

Lazy Man and Money — Thu, 01 Mar 2007 20:20:42 +0000

What if the wage loss is due to overseas outsourcing? For instance there are a lot of software engineers who are certainly very educated in the US (some may consider me one of them). If someone in India can do my job for 1/10 the cost and that catches on in scale, is more education really going to be answer for me? I suppose maybe different education could be an answer…

I’d be more comfortable with there being an option to buy wage insurance. This is something that I would actually look into.

By: Hamburger Flipper

Hamburger Flipper — Thu, 01 Mar 2007 19:13:26 +0000

Encouraging education is useless to those who cannot afford to pay for it. Or is government going to pay for education and (re)training?

By: Allison

Allison — Thu, 01 Mar 2007 18:59:30 +0000

Most of the time when you work for a company for a number of years and then get laid off especially for manufacturing you are most likely to get the same amount of pay that you did prior. Most likely you are not going to be able to be up to speed and are going to need training at your new job. I agree that this is not the best place for our money. Too high of salaries may have been one of the reasons why that the former company had to have layoffs.

By: Saving Advice

Saving Advice — Thu, 01 Mar 2007 16:02:23 +0000

It sounds like a nice political thing to do, but I agree, the money could likely be spent in a much better way…