Paying Air Jamaica's debt
published: Tuesday | January 25, 2005
THE EDITOR, Sir:OH, THE joys of mathematics. Thanks to the media, basic mathematical knowledge and a hand-held calculator, I have gleaned these amazing facts:
Minimum wage increase ($400 x 52) = 20,800 per annum
Air Jamaica debt per capita Net increase to minimum wage earner - 7,662 per annum or $147 per week This shows that 63 per cent of the minimum wage increase goes to pay debt, which sounds familiar. Further, the Air Jamaica debt affects different wage earners unequally. The calculator reveals that the person earning $1,000,000 per annum will contribute 1.3 per cent of income to pay the Air Jamaica debt.
The worker earning minimum wage will pay 10.5 per cent of income. With a national debt of $780 billion, each of us owes $300,000. The earner of a million dollars has to work 624 hours or 78 work days to earn that $300,000. The minimum wage earner has to work 5000 hours or 625 work days to earn the $300,000. Isn't mathematics an amazing thing!
But not to worry; Mr. Vincent Morrison, a trade unionist, says there is no need to investigate how and why Air Jamaica came to place this burden on the people of Jamaica. The workers he represents are well satisfied.
I am, etc.,
Quaco Shutt
Kingston 8
