Econ 101 Lesson for Jagmeet

Here’s a short lesson in economics and the realities of commercial activity.

This message is particularly directed at the national NDP leader whose understanding of the system is lacking given his recent demands for removal of ‘profit’ from the long-term care industry.

Of course he really means nationalizing the assets of private companies but doesn’t want to say it to improve the optics so he uses that famously dirty word: profit.

But just what is profit? This is what is left over after subtracting expenses from income. In business it is called profit. Co-ops choose to call it savings. So do people. Profit or savings is what people set aside after paying their bills….we call it a pension plan or RRSP.

So…is the federal NDP leader really saying he wants all profit out of the long-term care business? Is he really saying: strip long-term care workers of their pensions? Sadly he chose to go for the glib soundbite but there is an irony in this… the vary pensions he threatens probably have shares of care homes in them.