If you ever wondered what some of the top Government positions pay you are not alone. Yahoo source 24/7 Wall Street has found this information and posted an article so we the taxpayers can see the salaries our tax dollars support. Somebody made a comment that what their salaries contribute to our economic burden is a rounding error and I would agree. However, the pensions with cost of living adjustments and healthcare are a fixed cost burden that continues to pile on a crushing amount of debt in both private and Government sectors. I have no issue with anyone being paid a fair wage and earning benefits for their service but with healthcare costs rocketing ever higher the tax payer cannot continue to support these costs. Either the Government has to grow some brass and do what is necessary to reduce and control costs or public service and union workers need to share more of the costs like the rest of us.
Please pay attention to what I am saying. I understand that a lot of Government and Employees and union fold, police and fire especially, earn a lower salary compared to private sector workers but when you get free healthcare and a pension for the rest of your life which could be 20 to 30 years then that disparity is more than likely erased. The other point I want to make is I may make a higher salary but I have to pay higher premiums and I am 100 percent responsible for my pension. If I do not contribute to my 401(k) then I have nothing. If I do contribute then it comes out of my pocket and no one else is affected. However, in order for my state and federal government to continue to pay for these fixed costs I continue to be required to pay more and more taxes while getting less and less benefits.
To summarize this year I will see both my Connecticut Income Tax and Federal Income Tax increase. I will more than likely be phased out of any child or education credits. And my healthcare premiums will probably go up by some disgusting amount that will make me revisit my meals for the day. I have included the link below for the article. I guess the old adage is still true, there are the have and have not’s. Except no it means if you are wealthy you are insulated from raising costs and can utilize many legal tax shelters. If you are poor you get to benefit from countless social programs such as heating assistance, low income housing, countless tax credits, including many that are refundable, which means you not only do not pay any tax but for the privilege of not contributing the government will actually pay you, and then there are your food stamps, etc.
Yahoo Finance - Click for Full Article: http://finance.yahoo.com/career-work/article/112283/the-10-highest-paid-government-jobs