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Underemployment Insurance

We have unemployment insurance, why not underemployment insurance?
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Unemloyment insurance pays you when you are unemployed. Underemployment insurance pays you when you are underemployed. So if you have a Ph.D. in physics and should be making $60,000 but you are flipping burgers making $20,000, the underemployment insurance would pay the difference, $40,000.
mystic2311, Dec 04 2003

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       I have a PH.D. in physics and get 60k$ but I feel that I am qualified to be a CEO making at least 10M$. What would be the annual premium to make me eligible for payment of the difference?
kbecker, Dec 04 2003
  

       I would be more than happy to work extra hard for a few years to get an impressive graduate degree, then sit back and flip burgers 20 hrs a week and still pull in a huge salary... I think you would have to install a system to place blame for the underemployment. The policy holder should not be able to collect unless they are not at fault, which would be very rare.
luecke, Dec 05 2003
  

       Maybe you have a PhD in physics from "Billy Bob's school of learnin' stuf good" and really you're only qualified to flip burgers or pick your nose.   

       How would you account for quality of education ??
SystemAdmin, Dec 05 2003
  

       Conversely, overemployed people (those who flunked out of burger flipping school but whose rich uncles managed to get them jobs as Vice Presidents at their firms) should have to pay a percentage of their salary into the insurance program.
phundug, Dec 05 2003
  

       Well then, Bill Gates alone could fund the whole national program with that rule. (He flunked out of Harvard, never finished, and is the richest man in America).
krelnik, Dec 05 2003
  

       GW Bush is the poster child of overemployment. I wonder how big his premiums are?
mystic2311, Dec 05 2003
  

       couldn't the premiums be paid for by the people who are over employed? by this i mean the high school drop outs who strum guitars for a living, and make what [kbecker] is qualified for.   

       oh wait, they tried that already.... somewhere in/near/around china, i think.
changokun, Dec 05 2003
  

       "Yaaaaaaaaay! Communism!!
Sheesh....finally...."
-Marx
Overpanic, Dec 05 2003
  

       Economics in any form is dumb.
Babyhead, Jun 14 2004
  

       Underemployment, Overemployment - how about Antiemployment? If the military can accomodate conscientious objection, surely my post-enlightened neighbors can support my principles. Perhaps I was just born too soon.
JungFrankenstein, Jan 14 2005
  

       None of this would be a problem if, instead of funding rediculous wars in odd corners of the earth, major countries (most especially the USA) would spend that money to provide every citizen with guaranteed food, water, education, basic clothing and shelter.
That said, I believe that if you have TRIED hard to get a job in your field, and your grade point average was a B average or higher, and still you cannot, your underemployment insurance should come from your college, grad school, or technical institute.
  

      
In other words, they should simply have to give you back your tuition. Everywhere else, if you buy a product or service that doesn't work, the manufacturer or provider will refund the money. Why not education? Hmmm. [idea strikes]! Off I go to shove a new bun in the mental oven...
submitinkmonkey, Mar 23 2005
  

       >>would spend that money to provide every citizen with guaranteed food, water, education, basic clothing and shelter. <<   

       WIBNI...   

       Postcard from the real world: 9-11 cost the US economy over a trillion dollars. The money spent to ensure nothing like it happens again is very well spent.   

       Having grown up on welfare (the "dole" for you Brits) I know that it is no kind of life at all. I was eventually taken away from my mentally ill mother and put with a family that taught me how to accomplish, sacrifice, dream and achieve. Handouts are NOT a solution. Think harder, please.   

       As for the original post, it is a nice idea but totally impractical. In other words, truly half-baked! [+]
justibone, Mar 23 2005
  
      
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