Healthcare is obviously dramatically expensive in the US, with per capita costs about twice that of the next highest spending nations. For most employed Americans, that ends up becoming a $5,000 to $10,000 'perk' in their compensation (which isn't counted in wage figures). If you make $50,000 at a full-time job (the median figure for full-time), you're liking getting a health insurance plan that is worth upwards of 10% of your salary.

Buffett likened healthcare costs to a monster that is eating the US economy. It's spot on. There's a trillion dollars per year there in excess costs, that if even half went into labor competition, would do wonders for giving wages a jolt at the median.