Let's play around with the data a little more, this time using Education Commissioner (Professor, but with no advanced degrees) Bret Schundler's numbers:
Schundler says total state education payroll is $13.2 billion. He wants to freeze wages scheduled to go up 4.3% (his number, not mine - I have problems with it that I'll mention in a later post). That's $567.6 million saved.
The state doesn't have to pay FICA at 7.65% on that money, saving $43.4 million. But they lose out on income tax on that money as well - figure 5.5%, that's $31.2 million. Since, according to Christie, this won't cost taxpayers anything, that's a total of $12 million that Christie has to incent districts to get wage freezes out of their employees.
Figure $60K a job, and he'll save 200 jobs. Out of 143,700 teaching and administrative positions. 0.14% of all positions.
My spreadsheet would be laughing if this weren't so serious.