On TechTicker this morning, Gary Shilling highlighted a trend that many folks are increasingly angry about: The growing divergence between private sector and public sector compensation and benefits. Specifically, many public sector employees now make a lot more than their private sector counterparts. And that, says Gary, will eventually lead to a tax revolt.
Wait, there’s more:
The number of federal employees making $100,000 or more has increased by 120,595, from 262,163 employees in December 2007 to 382,758 in June 2009, for a 46% increase. The number of federal workers making $150,000 or more has more than doubled since the recession started, from about 30,000 to more than 66,000 (see chart above).
(Actually, there are some government jobs I don’t mind paying top dollar for. For example, I’d gladly pay $100,000 or more to the folks out trying to catch bin Laden and his cohorts. But in that case, I’d just prefer to move to a cash-bonus system for each body part they recover.)
So, does this revolt catch fire this tax season or next?