Why is it taking so long for production to come back?

[tnt_motorsports]

And bankrupt the entire country...

No doubt! There’s a reason people that were working in big cities and on the coasts moved during the remote working time of the pandemic. Simple math, more disposable income…

mandating higher wages of $15 or more in certain parts of the country will only drive inflation faster.

we vacationed every year in Ontario Canada before the pandemic. They have a minimum wage around $15/hr. The cost of living is also significantly more than the Midwest. Groceries are outrageous for our family of 4. When you force wages up employers put prices up to cover the cost. It a viscous cycle.

just my $0.02

 

[Andrew1972]

This is just not true...at least in dentistry. Can't offer much more than $17/hr + benefits (easily worth another $6/hr) for an entry-level position as a steri-tech - a position that requires no experience and is fairly easy. We have a position for a receptionist that starts at $20/hr + benefits with no experience that we can't fill. We have a position for a hygienist that starts at $35/hr + benefits for someone right out of school that we can't fill. Everyday I see multiple posts from other practices nationwide complaining that no one wants to work and they can not fill positions - even the ones who are now offering above market pay.

My niece just took a Dental Assistant job because they offered to pay for her education at Community College to become hygienist and commit to them for a certain period of years(under 5). The glory days of getting fat paychecks as dentists is over if you own a practice till market resets.

 

[PWMDMD]

My niece just took a Dental Assistant job because they offered to pay for her education at Community College to become hygienist and commit to them for a certain period of years(under 5). The glory days of getting fat paychecks as dentists is over if you own a practice till market resets.

Lol...let's not get crazy! If you have manageable debt load and a mature practice it still pays REALLY well. I'm not talking 7-figures well but still really well.

 

[dishdude]

And fat cats.... Equals who???

How about a doctor and a pharmacist.... That are married... = Fat cats... Yes... That's true.

How about a orthodontist and a orthopedic surgeon married ?? = Fat cats... True.

The quote unquote "fat cat" line is actually not all that high a bar too reach. According to the tax brackets. And people in that bracket pay taxes. A lot of taxes.

Those aren't fat cats.

Fat cats don't have their income reported on a W-2.

 

[Quattro Pete]

It a viscous cycle.

Only on BITOG.

 

[PWMDMD]

Orthodontist make serious money.... Big money.... They live in gated big money communities...

Orthopedic surgeons make big money... Big money and live in gated community.

Pharmacist make really good money... Same as above...

People who live in gated places are fat cats.... People who live in those places are not living anything like 95 plus percent of the regular population.

They are in the top bracket.

The are fat cats..... Compared to the people at the bottom of the tax bracket.

I employ an orthodontist so I know exactly what they make and while yes, sure, it's top 1%, I still don't think they are fat cats. I have family on Wall Street, one cousin who is 40yo lived in a $5M house in CT, the house next door came up for sale and he always loved it so without selling his current house, he bought the house next door for $9M, so he could still live in his current house while he guts and renovates the $9M house. His parents and 4 other siblings all live in the same town and have tens of millions. Those are fat cats...at age 35 none of them had to ever work again - they are the top 0.01%.

I make a good living, I live in $550,000 house (which is pretty modest for where I live), have two $50K vehicles and manage to squirrel away for retirement and college. We go on one big trip per year, I don't really worry about money, and I only work 4 days per week. Now I'm not complaining, I understand I'm WELLLLLL a head of most, but I will be working until I'm 60 at least and could not quit my job right now at 42 like my cousins could at 35. I pay a **** ton in taxes. Trump's tax break specifically excluded me (providers of professional services) and that's fine, as I said I'm not complaining, but pretty sure my cousins pay less tax than I do.

 

[Wolf359]

Is it just me or until recently has there been a push for “free” childcare. Almost like there’s more of an incentive to have kids. Hmmmm.

Parents need childcare because schools are closed because it’s not safe then there’s a push for free childcare.

A bit OT, but I used to work with a guy about my age (late 20’s) who felt he was more entitled to a job (and food on the table) than me because he and his girlfriend had 4 children. Rubbed me the wrong way and still does.

Probably the anti kid mindset was fine when we had population growth, but now with the birth rate below replacement rate, probably a good idea to make child care cheaper.

 

[tnt_motorsports]

Only on BITOG.

That might have been a Freudian slip…

 

[JeffKeryk]

The United States Statistical Abstract clearly shows the top 90 percent of income earners pay a strong majority of federal taxes.... The less than 50 percentile pay hardly any federal taxes.

Look up United States Statistical Abstract...

Those numbers are directly from your Federal govt.

Your point perfectly proves the enoumous wealth gap between the rich and the poor. Not only the poor, but between the rich and everybody else.

Maybe 50 to 60% of Americans own stock, but the vast majority own stock through 401K programs. They have little idea of what they own.
Families in the top 10% of incomes hold 80 to 90% of the value of all stocks, with a median portfolio of $432,000. The bottom 60% of earners held only 7% of stocks by value. The median middle-class household owned $15,000 worth of stock.

The top 1% own 38% ot the stock market. Or more. I imagine you know, for the 1% that $432K number is thought of as a daily swing of little consequence...

The answer to closing the wealth gap is to rise up the lower income families.

 

[JeffKeryk]

And bankrupt the entire country...

Quite the opposite. The lowest earners spend every penny they make. They would have to do so up to a point. That increased spending by so many people would make the economy take off like a rocket! Jobs jobs jobs!

 

[PandaBear]

No doubt! There’s a reason people that were working in big cities and on the coasts moved during the remote working time of the pandemic. Simple math, more disposable income…

mandating higher wages of $15 or more in certain parts of the country will only drive inflation faster.

we vacationed every year in Ontario Canada before the pandemic. They have a minimum wage around $15/hr. The cost of living is also significantly more than the Midwest. Groceries are outrageous for our family of 4. When you force wages up employers put prices up to cover the cost. It a viscous cycle.

just my $0.02

Canada is a different country, with different tax system, and different climate.

What you pay a lot of it went to their public health care, so you pay more for fruits and vegetables and dish soaps but in return you get cheaper, way cheaper medical cost (no 10k a year medical insurance), and education (no 200k college to pay for). You win some you lose some.

 

[PandaBear]

Probably the anti kid mindset was fine when we had population growth, but now with the birth rate below replacement rate, probably a good idea to make child care cheaper.

We don't have birth rate below replacement rate at least in the US. What we have is a good parenting rate that replace the bad parenting rate. Not just the low income section but the high income and middle income sections are also at fault in this department.

 

[PandaBear]

Orthodontist make serious money.... Big money.... They live in gated big money communities...

Orthopedic surgeons make big money... Big money and live in gated community.

Pharmacist make really good money... Same as above...

People who live in gated places are fat cats.... People who live in those places are not living anything like 95 plus percent of the regular population.

They are in the top bracket.

The are fat cats..... Compared to the people at the bottom of the tax bracket.

Since when are people living in gated community fat cats? They are just mere middle class to upper middle class. They have to work and not just "invest", no family office.

Oh also for certain their practices are businesses but they don't have much tax loophole other than maybe write off for cars and some home offices, not going to add up to much but nothing like having offshore tax shelters or all income from capital gains, charity donation on equity prior to sales to dodge taxes, etc.

 

[PandaBear]

Let's have everyone pay $35 an hour entry pay for everyone.

$15 is nothing in places like NY or west coast.

No, let's have some of those businesses closed down. There is no reason to run a dairy farm in downtown manhattan so you can get the freshest milk, and being entitled to it and demand someone being paid $15 in manhattan to milk a cow is nonsense in 2021, why not just truck them in from other nearby states instead? The same argument goes for why are we entitled to $2 gasoline, $5 Chinese food (family stuck in immigration visa until they grind out the "create jobs" year requirement) at below minimum wage of the business owner, $15 / hr nanny, $20 / hr Home Depot day labor. Why are we entitled to them? Why is it wrong when they have choice to pick another job (i.e. driving for grocery and food delivery, or amazon truck) instead of doing your minimum wage job?

This is not just minimum wage either, junior bankers are now revolting against the long hours and lack of promotion opportunities, that investment banks are giving in to free food, maximum hours (no more than 60 per week), and some level of bonus. They just realized they deserve better than 100k a year in banking too, not just minimum wage.

 

[Wolf359]

We don't have birth rate below replacement rate at least in the US. What we have is a good parenting rate that replace the bad parenting rate. Not just the low income section but the high income and middle income sections are also at fault in this department.

It's been below replacement rate for a while. Immigrations helps keep the population rate up. You need 2.1 and it's now below 1.7.

https://www.npr.org/2021/05/05/993817146/u-s-birth-rate-fell-by-4-in-2020-hitting-another-record-low

 

[CKN]

I can flip that. I just talked to someone who works for a city government. They cannot find people to fill the plethora of job openings they have. Water division, parks, sewer, etc. These are well paying jobs. That is one example. I’ve heard from others in the warehouse sector, plumbers, and other good paying jobs that nobody will work. So it’s not just retail and restaurant and other service jobs.

With increases in wages-many have moved away from retail/service jobs. That's one reason wait staff in restaurants is an issue.

 

[tnt_motorsports]

Canada is a different country, with different tax system, and different climate.

What you pay a lot of it went to their public health care, so you pay more for fruits and vegetables and dish soaps but in return you get cheaper, way cheaper medical cost (no 10k a year medical insurance), and education (no 200k college to pay for). You win some you lose some.

Oh I am very familiar with the Canadian system. I was born there and lived there the first ~30 years of my life. We have been in the USA since and only go back to visit. I completely understand the differences that is why we continue to live in the USA. Healthcare might cost you here, but when you need something here you can get it. Both my family and my wife's family have had incidents and horror stories of the "free" healthcare system. The taxes alone more than offset the healthcare costs for my family moving from Canada to the USA. I can't tell you the number of times I have been asked about the Canadian system in the last 15 years.

I agree college is cheaper in Canada but no where near $200K in the USA IMO. If you spend more than $20 - $25/year you should re-evaluate. Both of my children are doing 2 years at a community college then transferring so the debt load will be significantly less. All said and done it will be about $90k for both.

Just my $0.02

 

[grampi]

Quite the opposite. The lowest earners spend every penny they make. They would have to do so up to a point. That increased spending by so many people would make the economy take off like a rocket! Jobs jobs jobs!

Yeah, until their employers ran out of money, which they most certainly would...

 

[JeffKeryk]

Yeah, until their employers ran out of money, which they most certainly would...

So you are saying that the only way a company can exist is through modern day slave labor?
Pretty bad business plan...

 

[loneryder]

Here it's because so many are living off the govt. Every business has a help wanted sign out and nobody is wanting to work

I have talked to people in the mower, golf cart and other industries. They all said they couldn't get enough employees. Nobody want to work. They have offered all kinds of bonuses, 4 day weeks etc. When they do hire people, they don't show up. There's a chicken processing plant in my area and they cannot find workers. They have upped wages, offered hiring bonuses, and gone to a 4 day week to no avail. I'm talking about Big Dog mowers, Yamaha golf carts among other things. There is a huge motorsports dealer near me that has about 5 motorcycles, and a few ATVs for sale in a huge showroom that used to have 100's of vehicles in it.