San Francisco Transit Strike and the Union 1%

I appeared on FBN’s Money with Melissa Francis today talking about the San Francisco Transit strike. Watch the segment here.

The transit workers who earn on average over $70,000 in salary, and $50,000 in benefits per year (!) are demanding a 15% raise over 3 years. Meanwhile in the Bay Area unemployment remains around 6% and over 250,000 people are unemployed. And that does not count those who have given up looking or who had to take lower paying jobs.

And these are the people who the transit system union workers want to pay more so they can further inflate their already generous salaries. Wow.