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
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

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