After all, how could we bail out the Wall Street elite without also making an effort to save the largest single segment of the U.S. manufacturing industry?
The price of inaction would have been devastating to our already devastated economy.
Nevertheless, the auto bailout seems to be a soap-box magnet for the anti-worker crowd.
The United Auto Workers (UAW) union has already had to make some concessions under the bailout. But apparently that is not enough. Some people just want an end to unions. Gotta keep the power away from the little people.
The truth is that the average UAW member makes about $30 per hour in wages, bonuses, overtime, and paid time off, with maybe another $15 in benefits.
So let's do the math:
$30 per hour x 40 hours per week = $1,200 per week.
$1,200 per week x 52 weeks = $62,400 per year.
Plus the usual benefits. Nothing special.
So the UAW members make a solid middle class living at $62,000 per year, for doing some good, hard work. What exactly is the problem with this?
That, of course, is a rhetorical question. It's clearly all just a political or ego-driven thing -- or both.
So the anti-worker folks keep calling for labor concessions to keep the industry going.