Interesting discussion with an RV salesman on Sat

[JohnSWood]

It sounds to me like wages need to be increased; many people have been under-employed for way too long.

[NB Canada]

It sounds to me like wages need to be increased; many people have been under-employed for way too long.

How do higher wages help?

These are entry level jobs and deserve entry wages imo


2021 Imagine 2400 BH
2018 GMC Sierra 4x4 crew

[Rn29306]

Thor is 14.5 billion behind.

How would you like to have one of these slung together RVs? Gas I got mine last year.

https://www.google.com/amp/s/www.cnb...rv-demand.html

[JohnSWood]

How do higher wages help?

These are entry level jobs and deserve entry wages imo


2021 Imagine 2400 BH
2018 GMC Sierra 4x4 crew

They aren’t all ‘entry-level’ jobs. They are just treated like they were. Do you really want a TT built by a teen-ager just out of high school?

[Wicked ace]

Thor and I suspect the rest isn't hurting. After this quarterly report came out the CEO was on Mad Money crowing.

Showing results for thor 2021 quarterly report

Thor Industries last posted its earnings data on June 7th, 2021. The construction company reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.93. The firm earned $3.46 billion during the quarter, compared to the consensus estimate of $3.01 billion.

I'm sure they could now afford to pay a living wage and cover health care for the work force.

[Wicked ace]

How do higher wages help?

These are entry level jobs and deserve entry wages imo


2021 Imagine 2400 BH
2018 GMC Sierra 4x4 crew

Isn't that kinda like saying all Canadians should earn $25 Cad / hr because that's all they deserve?

[Ranchertx]

I expect shortages to become the norm for the future. I can’t wait till ranchers start getting big bucks for their cattle!
Wait till the world realizes in about ten years phosphorus will become very short and much more expensive.
We are definitely going to see some very hard times. All these people overpaying for things will be hung when demand drops.

[Heavysledz]

First let me preface my next comments with the fact that I whole heartedly believe you get what you pay for with regards to salaries and quality of workers.

However, history has proven that raising the minimum wage only results in a short term relief for those impacted (i.e. those making entry level wages) but is short lived because it in turn results in inflation and increased costs to the consumers. Businesses operate on projected profit margins and in order to hit their targets, they raise the cost of their products to offset increased materials and overhead costs (i.e. labor costs). So all it will end up doing is making everything cost more.

Example: If McDonalds were to increase their minimum wage for their employees, all it will end up doing is costing the consumer more to purchase their Happy Meal....McDonalds isn't going to absorb the cost of the pay increases but will instead spread that cost across their menu pricing to make up for it....again, all based on a strategic profit margin vs expenditures goal that they will make sure they achieve.

[NB Canada]

Isn't that kinda like saying all Canadians should earn $25 Cad / hr because that's all they deserve?

I don’t even know how to respond to this

I was talking about unskilled labor and you are taking a shot at Canadians?


2021 Imagine 2400 BH
2018 GMC Sierra 4x4 crew

[Wicked ace]

First let me preface my next comments with the fact that I whole heartedly believe you get what you pay for with regards to salaries and quality of workers.

However, history has proven that raising the minimum wage only results in a short term relief for those impacted (i.e. those making entry level wages) but is short lived because it in turn results in inflation and increased costs to the consumers. Businesses operate on projected profit margins and in order to hit their targets, they raise the cost of their products to offset increased materials and overhead costs (i.e. labor costs). So all it will end up doing is making everything cost more.

Example: If McDonalds were to increase their minimum wage for their employees, all it will end up doing is costing the consumer more to purchase their Happy Meal....McDonalds isn't going to absorb the cost of the pay increases but will instead spread that cost across their menu pricing to make up for it....again, all based on a strategic profit margin vs expenditures goal that they will make sure they achieve.

This is Supply side Economics that has been espoused since the early 80's. Part and parcel with "trickle down economics" that they tried to sell it has shown to be a flawed thesis. A statement attributed to John Keynes "When facts change, I change my mind" now is the time to rethink.