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PrintApril 4, 2010
Follow the money
Here is something I made up for my mineral economics class to illustrate to them where they would likely be after they graduate and enter the workforce as private sector employees. I used it to illustrate how tax dollars from companies, shareholders and private sector employees support public sector employees. I did not even include the other Federal Boondoggles that are paid for out of the tax trough. I also mentioned that a portion of the public sector employees pay their fair share of taxes, but if they (the students) really look at it they can see that I only pay a maximum of 28% of my own salary, which follows that 28% of a public sector employee supports 28% of another, and another, and etc. into a narrowing gyre. Make sense? So, if we expand the public sector employment rolls, like we're (they're) doing, then we also need to expand the tax money brought in.
I then asked them how it is possible to solve our Nation's current economic problem. Two or 3 of them caught on right away and shouted out: "More private sector jobs!"
I'm training them to be good capitalists.
Happy Easter.
Chuck
Chuck Kliche, P.E., PhD
Professor of Mining Engineering
SDSM&T
SDSM&T
