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	<title>Comments on: Perfect storm</title>
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	<link>http://www.greaterfool.ca/2009/09/20/perfect-storm-2/</link>
	<description>Book and Weblog - Authored by Garth Turner</description>
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		<title>By: taxpayer like you</title>
		<link>http://www.greaterfool.ca/2009/09/20/perfect-storm-2/comment-page-2/#comment-43704</link>
		<dc:creator>taxpayer like you</dc:creator>
		<pubDate>Wed, 23 Sep 2009 01:09:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.greaterfool.ca/?p=3510#comment-43704</guid>
		<description>96 smw. Thanks for your reply, it may actually be as simple as that. The original post at 43 suggested the funds themselves would be taxed and Garths reply that 
&quot;industry claims that $500 million a year will be drained from investors...&quot; gave not detail as to how the drain 
would  be applied.
</description>
		<content:encoded><![CDATA[<p>96 smw. Thanks for your reply, it may actually be as simple as that. The original post at 43 suggested the funds themselves would be taxed and Garths reply that<br />
&#8220;industry claims that $500 million a year will be drained from investors&#8230;&#8221; gave not detail as to how the drain<br />
would  be applied.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: smw</title>
		<link>http://www.greaterfool.ca/2009/09/20/perfect-storm-2/comment-page-2/#comment-43655</link>
		<dc:creator>smw</dc:creator>
		<pubDate>Tue, 22 Sep 2009 14:43:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.greaterfool.ca/?p=3510#comment-43655</guid>
		<description>#86 taxpayer like you

Easy, citizens will have $1.5K to $2K less disposable income a year to invest.</description>
		<content:encoded><![CDATA[<p>#86 taxpayer like you</p>
<p>Easy, citizens will have $1.5K to $2K less disposable income a year to invest.</p>
]]></content:encoded>
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	<item>
		<title>By: steven rowlandson</title>
		<link>http://www.greaterfool.ca/2009/09/20/perfect-storm-2/comment-page-2/#comment-43650</link>
		<dc:creator>steven rowlandson</dc:creator>
		<pubDate>Tue, 22 Sep 2009 13:57:50 +0000</pubDate>
		<guid isPermaLink="false">http://www.greaterfool.ca/?p=3510#comment-43650</guid>
		<description>Garth #3 comment looks inaccurate to me.   According to Noneplus the poor pay no taxes.  On the contrary they do pay taxes.  First of all on a profit of between 10 to 16 thousand a year which is piss poor earnings I pay around 10 or 11 % and a lot of it is CPP which will be a joke if I can collect it.  If I have to move I might wind up homeless because there is no affordable real estate in canada near a job and that includes with in commuting distance. 
Also I do pay GST and PST on what little I have in personal expenses.  So the poor do pay taxes even if its a small amount.

As a self employed worker/stair builder supplying my services to a stair company I have to compete with the unemployed which means no raises in pay and no COLA.  And to top it all off WSIB have deemed all self employed people to be employees and soon they will be subject to Employment Insurance premiums and that will soon include their clients.  On May 26th 1986 I was told you either self employed or unemployed.
So I was self employed with a small raise from $6 an hour to $8 an hour routering stair stringers and doing joinery.  23 years later my pay is $15 an hour untill the 8th of january 2009 .  Now I am on WSIB collecting $781.84 every 2 weeks and hoping I can go back to work after losing 10mm off  my left 3rd meta carpal bone.  My car died this year and I had to buy a used one.  So needless to say I can&#039;t afford any significant increase in my expenses unless I can call it a business expense and then may be. 
So you people have to understand that a man getting market pay rates and faced with legal hostility and extreme costs of living has to impose the most ruthless frugality on himself or he just doesn&#039;t survive or even save money.  On a good year my savings rate rivals the japanese savings rate.

The price paid for this frugality is no sex life, no buying a house, no wife ,no children and no living like a play boy ,no drugs or booze and I must pay all my bills or I lose credibilty.   Do I like going without a life as most people know it?  No ! But there really is no choice. 
Its be thrifty or perish. Is there away to a better life through investing?  No! Not by following the crowd or doing the will of others. Otherwise you will lose out to short sellers,misinformation and othe forms of market hanky panky.  
If there is a way it is to own and controll that which is usefull and or has value while being fully paid for and having the asset in ones posession.  No debt or counterparty risk.

 I oppose all political correctness even if in public it appears otherwise.  Political correctness tends to be favorable towards satanic and communist agendas which I dispise to the marrow of my bones.
I consider this to be a moral virtue to oppose political correctness.

When I call for the radical reduction of government spending and real estate prices and the methodical paying down of debt it is because not to do so would be contrary to common sense and decency.  
I am a capitalist and not a communist and therefore can not vote for a canadian politician regardless of the party.  They just don&#039;t have the smarts to run the country except into the ground.
Which is where this misled country is heading.

Steven</description>
		<content:encoded><![CDATA[<p>Garth #3 comment looks inaccurate to me.   According to Noneplus the poor pay no taxes.  On the contrary they do pay taxes.  First of all on a profit of between 10 to 16 thousand a year which is piss poor earnings I pay around 10 or 11 % and a lot of it is CPP which will be a joke if I can collect it.  If I have to move I might wind up homeless because there is no affordable real estate in canada near a job and that includes with in commuting distance.<br />
Also I do pay GST and PST on what little I have in personal expenses.  So the poor do pay taxes even if its a small amount.</p>
<p>As a self employed worker/stair builder supplying my services to a stair company I have to compete with the unemployed which means no raises in pay and no COLA.  And to top it all off WSIB have deemed all self employed people to be employees and soon they will be subject to Employment Insurance premiums and that will soon include their clients.  On May 26th 1986 I was told you either self employed or unemployed.<br />
So I was self employed with a small raise from $6 an hour to $8 an hour routering stair stringers and doing joinery.  23 years later my pay is $15 an hour untill the 8th of january 2009 .  Now I am on WSIB collecting $781.84 every 2 weeks and hoping I can go back to work after losing 10mm off  my left 3rd meta carpal bone.  My car died this year and I had to buy a used one.  So needless to say I can&#8217;t afford any significant increase in my expenses unless I can call it a business expense and then may be.<br />
So you people have to understand that a man getting market pay rates and faced with legal hostility and extreme costs of living has to impose the most ruthless frugality on himself or he just doesn&#8217;t survive or even save money.  On a good year my savings rate rivals the japanese savings rate.</p>
<p>The price paid for this frugality is no sex life, no buying a house, no wife ,no children and no living like a play boy ,no drugs or booze and I must pay all my bills or I lose credibilty.   Do I like going without a life as most people know it?  No ! But there really is no choice.<br />
Its be thrifty or perish. Is there away to a better life through investing?  No! Not by following the crowd or doing the will of others. Otherwise you will lose out to short sellers,misinformation and othe forms of market hanky panky.<br />
If there is a way it is to own and controll that which is usefull and or has value while being fully paid for and having the asset in ones posession.  No debt or counterparty risk.</p>
<p> I oppose all political correctness even if in public it appears otherwise.  Political correctness tends to be favorable towards satanic and communist agendas which I dispise to the marrow of my bones.<br />
I consider this to be a moral virtue to oppose political correctness.</p>
<p>When I call for the radical reduction of government spending and real estate prices and the methodical paying down of debt it is because not to do so would be contrary to common sense and decency.<br />
I am a capitalist and not a communist and therefore can not vote for a canadian politician regardless of the party.  They just don&#8217;t have the smarts to run the country except into the ground.<br />
Which is where this misled country is heading.</p>
<p>Steven</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: steven rowlandson</title>
		<link>http://www.greaterfool.ca/2009/09/20/perfect-storm-2/comment-page-2/#comment-43639</link>
		<dc:creator>steven rowlandson</dc:creator>
		<pubDate>Tue, 22 Sep 2009 12:48:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.greaterfool.ca/?p=3510#comment-43639</guid>
		<description>Hello Garth

HST on the sale price of real estate.  Excellent!
Now the consumer  has a choice:
1.  He or she can pay the tax on the full market price like a good little sheeple. Or.

2.  Refuse to pay such a huge price and radically bid down the price of real estate until both the property price is affordable and the HST tolerable based on the new deflated price.  What I mean by bid  down the price is to something between 2 and 10 cents on the dollar....

3.  I suppose a third way is to do it the primative way and live like the natives did 500+ years ago.  
This might be the most affordable on one hand and the most risky from a security stand point on the other.  
The governments, the real estate companies and the banks would send the police or military in to kill/arrest and burn out those that try it...  
Presumably they would call it trespassing on crown land.

They can&#039;t bear the thought of any one escaping their system of taxation and high expenses.

If there is a fourth choice short of emigration or being a boat person/ refugee from canada it would be renting.
No doubt that would be taxed.

Steven</description>
		<content:encoded><![CDATA[<p>Hello Garth</p>
<p>HST on the sale price of real estate.  Excellent!<br />
Now the consumer  has a choice:<br />
1.  He or she can pay the tax on the full market price like a good little sheeple. Or.</p>
<p>2.  Refuse to pay such a huge price and radically bid down the price of real estate until both the property price is affordable and the HST tolerable based on the new deflated price.  What I mean by bid  down the price is to something between 2 and 10 cents on the dollar&#8230;.</p>
<p>3.  I suppose a third way is to do it the primative way and live like the natives did 500+ years ago.<br />
This might be the most affordable on one hand and the most risky from a security stand point on the other.<br />
The governments, the real estate companies and the banks would send the police or military in to kill/arrest and burn out those that try it&#8230;<br />
Presumably they would call it trespassing on crown land.</p>
<p>They can&#8217;t bear the thought of any one escaping their system of taxation and high expenses.</p>
<p>If there is a fourth choice short of emigration or being a boat person/ refugee from canada it would be renting.<br />
No doubt that would be taxed.</p>
<p>Steven</p>
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