War

No, forget it. You’ll not hear any more plaintive tales on this pathetic blog from 1%er docs or teeth-pullers morose about Ottawa abruptly changing the tax code and turning them from respected professionals into furtive, maligned tax thieves.

Recent comments should tell you why. They won. The taxers and anti-business forces are now in control of the public agenda. Resistance is futile. Andrew Scheer will not rescue us. It’s over. The best, and only, strategy now is to save yourself. Barbarians at the gate.

The latest news confirms it all. In BC the Dippers this week increased taxes on the ‘wealthy’ by a bloated 14% (the rate rises from 14.7% to 16.8%). Those forking it over – not even qualifying for the shiny new Trudeau federal eat-the rich tax bracket – will be people earning $150,000+. “We believe those at the top can pay a little bit more to be able to contribute to the services and programs for all British Columbians,” said the finance minister.

Small business operators also got it in the neck. The corporate tax rate in BC, where there are apparently too many jobs and entrepreneurs, is increasing by 9% (up a point to 12% of net revenues). Now, combine that with what the Trudeau-Morneau tag team are legislating, and it’s enough to drive you to weed. As you know, the feds are about to hammer small business with a tax load of up to 73% on retained earnings and other measures seriously increasing the levy on those two million people who create most of the jobs.

And speaking of that, here’s Ontario’s contribution to increasing overhead and reducing employment. The province will soon legislate a monumental increase in minimum wages – from $11.40 an hour to $14 in the space of a few weeks. That 23% increase in labour costs is just the start. A year later, it goes to $15 – a move which will cost at least 50,000 jobs.

No, that’s not the conclusion of this righty blog but rather that of the province’s own Financial Accountability Officer. These are “unchartered waters,” he says of the forced raise. “There’s evidence to suggest these job losses could be larger given the magnitude and rapid pace of this increase.” Worse, it’ll be the kids working at McD’s out of luck. No wonder the franchise guys are installing robots. No wonder Metro is automating grocery stores instead of spending $45 million a year more on payroll. No wonder Dollarama – where lower-income folks can find bargains – is installing robot tellers, to reduce workers (who make minimum wage).

Taxes are a fact of life, inescapable and required in a country with a thin population and big expectations. The marginal rate for people earning more than $225,000 is now 54%. The federal liberals are pushing ahead with a campaign to portray legitimate portions of the tax code, in place for decades, as loopholes which cheat the system. The masses cheer. So there will be more.

Up next may be the items that Morneau wanted to pass in the last budget, including increasing the capital gains inclusion rate and diddling with dividends. Combined with the assault on corporate earnings and labour costs, it could prove fatal to a lot of small businesses who simply can’t make revenues meet expenditures.

Meanwhile the ‘wealthy’ income-earner, making $150,000 in Vancouver, still can’t afford a house but is officially considered rich. “Those at the top can pay a little more,” the politicians in Victoria say. In Ontario the premier states, “I know mom-and-pop stores will go through challenges.” But, too bad. As for Mr. Morneau, in the middle of a public consultation process he said, “We’re not backing down”. So much for caring what you think.

Some days ago I showed you the difference between the rich and the rest. The wealthy hold assets while the not-so-rich hold debt. Canadians have so obsessed over real estate that they’ve run up more than a trillion in mortgages, Hoovered their retirement savings and engaged in extreme leverage to buy homes many actually can’t afford. Family finances are a wreck. Four in ten live paycheque-to-paycheque and couldn’t survive the loss of even one. A third say the first quarter-point bank rate increase hurt them. RRSP and TFSA contributions are in reverse. And now higher mortgage costs and debt fears have real estate wobbling. That one-asset strategy’s looking suicidal. Middle class families, architects of their own demise, think politicians can save them by leeching others.

So, this is war. They tax. We avoid.

Stay tuned.

319 comments ↓

#1 TurnerNation on 09.12.17 at 4:57 pm

MLS Toronto Visualization and GTA dataset
This site has shut down due to the following letter from TREB:
http://www.shafquatarefeen.com/mls

From the Silent Weapons dept.

They tried to break up Kanada a few times previously. The strongest culture, in Quebec, didn’t split.
Now, I suspect their tact is to flood in ‘migrants’ into QC until the services split at their seams. Cultures will rift.

We have daily funny pet videos on socialized media. Why not a daily migrant count with costs. Silence? (Exactly).

*Nothing* is left to chance when billions is involved: people and money. Not sport nor politicking nor war

#2 FOUR FINGERS WATSON on 09.12.17 at 5:03 pm

Soon they will tax our tfsa’s .

#3 NoOneOfConsequence on 09.12.17 at 5:05 pm

ITS ABOUT TIME.

Minimum wages have been too low, for too long.

Why stop at $15 – it should be $20 at least with housing so expensive.

Doctors, lawyers and dentists have been ripping off the rest of us for years with their cushy tax breaks.

Nice to see the little guy finally get his.

Hey rich guys – go take some of your cash hoard and invest in automated cashier companies…diversify!

T2! T2! T2!

#4 Lunpia on 09.12.17 at 5:11 pm

I am moving to Manila to open a dialysis centre and gyms. Farewell Canada, farewell Garth. Farewell JT and libs. 12 years here and I’m out. Time to live life in the friendly tropics.

#5 Robots R Us on 09.12.17 at 5:11 pm

Replacement of teller and mac jobs by robots is happening anyway, regardless of minimum wage increases. The cost of these robots is rapidly going down. Keeping the minimum wage intact will only buy in limited extra job time for these thpes of employees, their layoffs are in the near future are inevitable, whether minimum wages go up by 15 percent or not. The more important issue is what the minimum wage increase will do to inflation. One question is to what extent it will make our exports more expensive. One would think that the impact is dwarfed by the increasing loonie, so in that regard it should not matter much. Moreover, the bulk of minimum-wage employees work in domestic industries. Our domestic economy is toast anyway, so we might as well lift those minimum wages. Bring it on -:)

#6 -=jwk=- on 09.12.17 at 5:12 pm

I’m still chuckling at Maxim’s folly. I understand why you don’t want to bring it up anymore ;)

#7 Drew on 09.12.17 at 5:17 pm

Hi,
Australian reader here. Whilst this tax talk is fun and all, can we get back to the housing crash porn? Make with the huge month on month % drops. The near vertical drop offs on graphs.
I need this.
It is all I have.
It give me hope our market will correct.
Drew

#8 dakkie on 09.12.17 at 5:19 pm

Massive global real estate BUBBLE about to burst

http://investmentwatchblog.com/massive-global-real-estate-bubble-about-to-burst/

#9 Happy Housing Crash on 09.12.17 at 5:20 pm

TurnerNation on 09.12.17 at 4:57 pm
MLS Toronto Visualization and GTA dataset
This site has shut down due to the following letter from TREB:
http://www.shafquatarefeen.com/mls

From the Silent Weapons dept.

They tried to break up Kanada a few times previously. The strongest culture, in Quebec, didn’t split.
Now, I suspect their tact is to flood in ‘migrants’ into QC until the services split at their seams. Cultures will rift.

We have daily funny pet videos on socialized media. Why not a daily migrant count with costs. Silence? (Exactly).

*Nothing* is left to chance when billions is involved: people and money. Not sport nor politicking nor war
—————————————————————–

they should forget taxing the rich and smash these criminal shysters in half. I can not stand these evil monsters. They are criminals and should be jailed. Realtors are Canada’s enemy not taxing the rich. I feel Realtors are the biggest criminal organization in Canada . Those Shysters are the real problem. I hope the government goes after them.

#10 mike on 09.12.17 at 5:25 pm

It never ceases to amaze me how short sighted most people are, thinking that money is better used in the hands of the gov’t than the person that earned it, regardless of income level.

It isn’t in better in the govt’s coffers, it will continue to be wasted, with more bureaucrats justifying their useless jobs, public servants getting golden pensions and general largesse.

France passed a tax 2 years ago under the same guise – that the “rich” could afford to pay more. The French gov’t demanded a whopping 90% on anyone earning $1M/year or more. All those professionals and business owners who got stung quietly sold their physical assets and moved elsewhere. Atlas shrugged.

#11 Bob on 09.12.17 at 5:27 pm

I agree with Garth – small business owners are looking like the losers here.

So please help Garth, on page 51 of the consultation paper, Morneau writes:

https://www.fin.gc.ca/activty/consult/tppc-pfsp-eng.pdf

Existing stocks of passive assets held in Canadian private corporations are significant. It is the intent that the new rules would apply on a go-forward basis. Once a new approach is determined for the tax treatment of passive investment income, the Government will consider how to ensure that the new rules have limited impacts on existing passive investments. The Government will bring forward a detailed proposal following these consultations, and time will be provided before any such proposal becomes effective.


How will this be implemented? If I have a million dollars (I don’t) saved in my corporation, and it earns the nice 7% balanced portfolio you mention, will those earnings now be taxed at 73% on withdrawal?

Or will the million be allowed to be taxed at the current rates? And if so, how will firms like yourself manage these accounts? Are you going to have every corporation create new accounts to separate the two entities?

And if not, my god, 73%!

#12 Editrix on 09.12.17 at 5:28 pm

I’m rather glad that I don’t even earn $85K a year. I am so unmotivated to work to better my situation and as I’ve written in these comments before, I have every intention when my oldest hits 15 years old, to go into semi-retirement so he and his sibling can take advantage of the free Ontario university tuition. I’ll make up the difference by dipping into my TFSA and Wynne won’t be the wiser.

https://www.thestar.com/news/queenspark/2017/09/11/one-third-of-ontario-college-and-university-students-receive-free-tuition.html

#13 Entrepreneur on 09.12.17 at 5:30 pm

Bring back our communities where newspapers were printed right there; bring back the mills where the common person can feed his family; bring back the dreams for the average person.

Instead we have the big box stores with cheaper products (mostly through-away). And people will usually buy cheaper not locally with the higher price . So limit this entry into our country (unfair competition for the locals).

The people within boundaries that form a nation should come first. As of now, we are just meaningless.

Ignoring isn’t a solution!

#14 PRED on 09.12.17 at 5:34 pm

Teranet Houseprice Index numbers drop tomorrow.
Less than 15hrs to go.

Anyone care to make a prediction?

level?
up hard?
up gently?
down hard?
down gently?

yvr slightly up would not surprise me in the least.

Teranet indicates zip. The worst index in the land. — Garth

#15 dosouth on 09.12.17 at 5:40 pm

#4 Lunpia on 09.12.17 at 5:11 pm – Have a safe move and on your way through security, don’t let the door hit ya where the good lord split ya.

#16 Overpaid Canadian Medical Protection Association! on 09.12.17 at 5:40 pm

If overpaid doctors accuse anyone supporting Morneau’s tax policies as a communist or socialist, then why are the Legal Fees of doctors funded by taxpayer dollars under the Canadian Medial Protection Association which is one hell of a law agency.

Furthermore, once someone in Ontario complains against a doctor in Ontario to the College, further restrictions prevent that plaintiff from pursuing a civil lawsuit against the doctor for monetary damages.

Docs in Ontario are protected by Communist regime!

#17 may?... on 09.12.17 at 5:41 pm

Now, combine that with what the Trudeau-Morneau tag team are legislating, and it’s enough to drive you to weed.

…….

lucky for us next July is just around the corner. Sedate the small business owners…..:)

at least one worker i will have to let go. I refuse to work long hours anymore. Change the game? i’m changing as well. This may end up being a God send. :)

#18 Debtslavecreator on 09.12.17 at 5:43 pm

Socialism , left wing brain disease, more takers than makers
Sovereign debt crisis, where art thou
What else can I say

#19 bring it on on 09.12.17 at 5:43 pm

My wife and I live in BC, and both of us will get zinged by the increased provincial personal tax rate. There are NO COMPLAINTS from us WHATSOEVER, as for the first time in 16 years the government of BC is earmarking funding for social programs, education, and reduction of MSP premiums (which is like a flat tax for those less fortunate). It is unfortunate in our dog-east-dog society, where greed and self-interest is rampant, that other privileged segments of society (doctors, wealthy entrepreneurs) complain bitterly and vocally about having any clawback of their sweet tax deals. Maxim’s letter yesterday was a centerpiece of this behavior. I hope T2 and Morneau’s next move is to focus on tax reform for the truly elite group (who do not need to work). If they punt on this group (for which they are members) it will not be a good sign. I am convinced that any steps (however small) towards emulating the Scandanavia countries is good for our society.

#20 bring it on on 09.12.17 at 5:44 pm

should be “dog-eat-dog”…. poor typist…

#21 Dolce Vita on 09.12.17 at 5:53 pm

“…could prove fatal to a lot of small businesses who simply can’t make revenues meet expenditures”.

I’m with Schumpeter and Creative Destruction.

Something better will emerge upon their failure be it robot replacement of jobs or else wise.

Post Great Depression Government oozed QE and stimulus money into the economy thus saving Zombie companies that should have failed for the precise reason above.

Since Government saved these Zombie companies in the first place, it is good that Government cut them loose from what saved their necks.

Quid pro quo.

As for robots at McD, this will only increase efficiency and profits; hence, Creative Destruction – something Garth, as an investment adviser you ought to applaud on behalf of your clients.

#22 Smartalox on 09.12.17 at 5:54 pm

As much as I disdain the griping about changes in the tax code by those that acknowledge profiting from advantages conferred by the current tax code, I am an avid supporter of tax avoidance and tax minimization strategies.

I am reporting for duty, ready to do my part in the war to pay less taxes.

#23 LarryB on 09.12.17 at 5:55 pm

Of course the provincial and federal liberals don’t give jack shit about people. Has any of them read Atlas Shrugged? Can any of them read? Remove the incentive to prosper and the capitalist system will be finished. Of course the ‘natural governing party” can finally move to the socialist utopia that their fog induced daze envisions. I am not a 1%’er, nor a CCPC but even a stupid proletarian can see where this is all heading.

#24 Idealistic or Naive on 09.12.17 at 5:57 pm

“Taxes are the price we pay for civilization.”Oliver Wendell Holmes, Jr

I lived for years in Scandinavia and saw firsthand the quality of life benefits to the citizens there of their higher taxes. No one complains about taxes there even though they are so much higher than Canada. I honestly don’t understand this deep rage against taxes. Probably it is because I am just an average earner so I don’t have to pay as much as the millionaires who post here.

We all have to contribute to the schools, hospitals, roads, police, fire, infrastructure that allows people and businesses to thrive. BC is on fire right now – how else do we pay for the excess costs of fighting that record-breaking fire and rebuilding again? Those rebuilt roads then let big logging and mining companies resume their businesses and earn their money again.

#25 Rainclouds on 09.12.17 at 5:57 pm

Revolt in Caucus or just a revolting caucus?
The paragon of virtue from Eastern PEI, DENOUNCES!

A rational person might suggest get the hell out of our pockets and SPEND LESS but I digress……

https://beta.theglobeandmail.com/news/politics/wayne-easter-denounces-his-own-governments-rollout-of-tax-changes/article36239318/

#26 MF on 09.12.17 at 5:58 pm

A little dramatic but I agree.

Funny I don’t notice that much envy or jealousy when I talk to everyday Canadians outside in the real world. Regardless of what the idiots on here will say I believe most Canadians value hard work and success. Remember only 4/10 voted Liberal last election.

Where are these policies coming from then?

I honestly think that these Liberals are driven by an ideology more than anything else. It’s getting scary they are starting to sound very left leaning, almost too left for Canada (which is usually center leaning).

You get the government you vote for. Where are the people who voted Liberal because Harper was mean?

THEY are to blame for all this.

M34ON

MF

#27 Dennis on 09.12.17 at 6:01 pm

As much as I fear for the future my wife and I will face, I am even more concerned about my adult kids. They are battling their way through university, and I am at a loss as to what guidance to give them. The old adages of work hard, defer your gratification, the ‘ant and grasshopper’ story, all these have been turned upside down. If you save, the government takes it to feed itself. If you earn ( merit ) admission to a professional school, if you take on debt to pay for this education, if you then set up / buy a practice, if you work hard to build a practice, you have a chance at a good life. But what a path! Look at the cost today of a dental degree ( after a Bachelors degree ):

http://business.financialpost.com/opinion/william-watson-why-are-we-educating-teachers-so-cheaply-and-dentists-so-expensively

I think the ROI is really not there now. Better to be a ( fill in the blank) – teacher, fireman, cop, food inspector, etc

I am on the back nine now; never thought I’d be looking at escape plans. the politics of greed and envy will destroy Canada, I’m afraid. Sad.

#28 Yuri on 09.12.17 at 6:02 pm

The best thing to do right now is to obviously earn income overseas, China, Russia, HK, Indochina, etc. Bigger market, cheaper labor, very low tax, and less red tape which if exists can be easily solved by direct payments. My relative in Moscow makes millions per year running gas stations, kiosks, and car rentals. His daughter lives and studies in Melbourne. Enjoy the English infrastructure, rule of law, and the environment, just do not do business there. This is the golden rule. Should have just enough capital to have a comfortable life but keep the untouchable bulk in other jurisdictions. Have the best of both worlds. When the crazy socialists come for your perceived dollar just run and watch from sideline when country collapses and turns into civil war. Just choose the jurisdiction wisely: Panama, Malta, Swiss, Thailand, Macao all look very good right now. Austarlia, Canada, and NZ to enjoy the moment and spend, but not to earn or hold income

#29 AGuyInVancouver on 09.12.17 at 6:08 pm

#4 Lunpia on 09.12.17 at 5:11 pm
I am moving to Manila to open a dialysis centre and gyms. Farewell Canada, farewell Garth. Farewell JT and libs. 12 years here and I’m out. Time to live life in the friendly tropics.
_ _ _
I trust you’ll be renouncing your Canadian citizenship to make the break complete?

PS Garth: The “kids” working at McDonalds? I don’t know about anyone else, but most of the fast food workers in Vancouver seem to be of the Temporary Foreign kind.

PPS The BC NDP reinstated the top tax rate for earners over $150k that the BC Libs introduced, then rolled back.

#30 powder_hound86 on 09.12.17 at 6:09 pm

“Recent comments should tell you why. They won. The taxers and anti-business forces are now in control of the public agenda. Resistance is futile. Andrew Scheer will not rescue us. It’s over. The best, and only, strategy now is to save yourself. Barbarians at the gate.”

Oh come on Garth. Little dramatic much?

With people like you, the liberals just can’t win. You whine about deficit spending. Well, how do we plug the budget hole? We either increase revenues or we cut services.

If we cut services, whose pay is going to be cut? Probably health care workers, likely doctors. Same effect in the end.

These changes are NECESSARY. Now stop with the melodramatic rich man whine that high income business owners are going to be paying more taxes.

#31 crossbordershopper on 09.12.17 at 6:09 pm

good article today, as i stated before the Canadian goverment from provincial to federal are truely to the left now, from coast to coast in every way.
you can argue and protest your points about fairness, but like i said before your wasting your time, In Canada, as its always been is top down control, nothing has changed in 200 years.
so, my advice is simple, report low income, earn your income like … well others in the USA, and dont worry about it.
why work, your wasting your time, someone is waiting for it before you even work it.
ask these people who get a penalty on not paying their tax instulments on time. even if their income changes, and they ended up not oweing, trudeau doesnt care he will give you a forcast tax bill and charge you interest if you dont pay it. its all b.s.
stop conplaining, and simply look at opportunities outside of Canada, report little income in canada and get all the benefits that it has.
its that simple, i have given you all the info you need, simply drive over and start working , i will work with you about the details of a TN visa, then adjustment to status then to permeant residence status.
US$, better income and i dont care, trudeau gets nothing, what are you going to do, tax me, kick me out of the country, Canada is a scam country, once you realize it you will clear your brain so you can better yourself and your family.
deductions, rrsp, tfsa, whatever, its all made up stuff, that trudeau will change whenever he needs more money. dont believe me, he just did, how about trusts with the previous goverment, i can go back further, to t1 on v day. like t1 and the start of capital gains etc. its all bs. GO TO THE USA. ya ya it has problems, like going to scarborough is considered a pleasure, really, or rexdale, OMG what a hell whole.

#32 Docs are Lawsuit Immune in Ontario! on 09.12.17 at 6:10 pm

Unlike in the States where doctors do not have the government and taxpayer Treasury to assist them with lawsuits, the doctors in Ontario are theoretically immune from lawsuits filed by patients because of the David & Goliath style of legal defenses from the taxpayer-funded CMPA Canadian Medical Professional Association.
http://otlablog.com/cpso-transparency/

In theory, though it may have happened to someone else, a crooked doctor can rape a very young child, and once the parents complain on the doctor to the College of Physicians and Surgeons of their province, the parents cannot pursue further civil charges under the privacy policies of the Health Act.

It is very difficult to sue a crooked doctor in Ontario because those doctors are protected by the CPSO, government and taxpayer-funded CMPA which sides with the doctor even if they know the doctor raped that young infant.

Doctors think that they are Gods in Canada, but aren’t they afraid that they will mess with the wrong patient who wouldn’t be afraid of the consequences of their actions? Do these doctors in Ontario know how many lives they destroyed when they commit harm and also further victimize those patients when they aim to seek justice in Canada?

#33 young & foolish on 09.12.17 at 6:13 pm

It’s the civilised version of pitchforks and torches

#34 Dolce Vita on 09.12.17 at 6:13 pm

“politicians can save them by leeching others”

They never have been able to Garth.

Why we have recessions.

If the doomer rhetoric you quote about Middle class families that frittered large sums of borrowed money on speculation, flipping, assignments etc., then it will be only a matter of time until they learn the lesson of previous generations before them:

recession and economic ruin.

The economy will be better for it.

For these economic players will no longer be able to ply their bad decision making for a decade or more.

I see no down side in this for the economy, only upside.

#35 Trojan House on 09.12.17 at 6:15 pm

“Taxes are a fact of life, inescapable…”

Not in some countries.

#36 -=jwk=- on 09.12.17 at 6:17 pm

@#1
MLS Toronto Visualization and GTA dataset
This site has shut down due to the following letter from TREB:
http://www.shafquatarefeen.com/mls

They are so full of crap. PIPEDA is a federal law, it would be FIPPA that applies in Ontario. And the information is availabel public records anyway. I hope the crash wipes them out.

#37 JustMe on 09.12.17 at 6:18 pm

Let the Data Speak: The Truth Behind Minimum Wage Laws

There are seven European Union (E.U.) countries in which no minimum wage is mandated. If we compare the levels of unemployment in these countries with E.U. countries that impose a minimum wage, the results are clear. A minimum wage leads to higher levels of unemployment.

In the 21 countries with a minimum wage, the average country has an unemployment rate of 11.8%. Whereas, the average unemployment rate in the seven countries without mandated minimum wages is about one third lower — at 7.9%.

https://www.cato.org/publications/commentary/let-data-speak-truth-behind-minimum-wage-laws

#38 MD on 09.12.17 at 6:18 pm

We don’t have a tax problem in Canada, we have a spending problem.

#39 MF on 09.12.17 at 6:18 pm

#4 Lumpia on 09.12.17 at 5:11 pm

For some reason Trudeau is still popular among the Filipino community.

I went to taste of Manila last year when he came by and everyone was screaming in joy. Everyone except my gf…who knows better.

They were upset this year when he couldn’t make it.

My gf and me thought it was pretty funny they were cheering him considering everyone’s PR card and family unification/sponsor was held up because the CIC’s resources were spent on fast tracking the refugees directly in front of them.

MF

#40 Jay (not that one) on 09.12.17 at 6:20 pm

You’re never, ever, ever going to win by using the rhetoric you have been. Too many damn holes!

Oh, you don’t get EI? Guess what — you don’t pay into it. No CPP? Guess what — you don’t pay into it. No vacation? Guess what? You didn’t put 4% away. Don’t get benefits? Guess what? You didn’t pay into those. And it’s the millennials who are entitled?

Then there’s the absurdities. “Only business owners have to work long hours fixing someone else’s screw-up” — oh? News to me. “Only business owners have to spend lotscapital to stay in business” — Oh? Again, news to me. “Only business owners ever work without getting paid for that time” — Oh? You got the hat trick. That’s all news to me. “Only business owners take risks” — why stop at a trilogy? “Only business owners are liable for their actions” — get Wynne on the phone, turns out that a big chunk of legal precedent is wrong!

Trying to paint this picture made of falsehoods and absurdities isn’t going to win any arguments. It’s firing salvos in a class war you can’t win — and not just against front-line workers.

The reason you’d go into business for yourself ought to be that you think you can make more money that way. The whole point of capitalism is efficient use of capital, so all other things being equal, you can choose to work for yourself or you can choose to work for someone else, and that choice should be based on whether you think you can build a better mousetrap and make more money, not based on whether you think you can get a bunch of tax advantages. As we’re learning, tax advantages can disappear with the flick of a pen.

As for the minimum wage, I think it should be abolished. It sucks making crap wages, but it sucks more not making any wages.

When I was saving for college, I worked a horrible job that didn’t pay much. I was getting $5.85/hr to run all over hell and back and do six different tasks at once. The turnover was incredible. Routinely, I was the only person who hadn’t gotten fired or quit.

You know what though? That shitty job got me through college, and now I’m a high income earner. Today, that shitty job is GONE. Minimum wage doubled, and there was no business case for it any longer.

As time goes on, someone like me is going to find it harder and harder to find that crappy job that lets us move up. That’s a shame.

#41 David on 09.12.17 at 6:20 pm

This is only going to get worse. I’m advising my two teenage sons to get a skill that will allow them to get out of Canada. The country will continue to decline. The laws of economics cannot be bent without consequence.

#42 Equality on 09.12.17 at 6:27 pm

I very much appreciate Liberal’s move on fair taxes.

In my circle, small business owners like real estate agents, taxi drivers, consultants have multiple expensive homes and cars. On top of that they get free education for their children, subsidized services, full child tax benefits, etc. as their income is either not reported or reported in such a Deceiving way that they intentionally fall under low income.

Salaried people with significant investment in degrees are called high earners even with 60-80K and miss all the benefits and keep on paying more.

I will appreciate if Liberals can crack down on those businesses who report no or very low income as they hide all the cash they receive, and unnecessary inserting of expenses which are not even part of their business.

People are using subsidized services and are in the low income category (but they have multiple expensive homes, cars, cash balance, etc.). This does not make sense at all. And we know who they are. They are not innocent salaried employees.

#43 Dan.t on 09.12.17 at 6:28 pm

There you go, for years been following your blog and occasionally, my comments about living in BC and the stupidity of the herd, house prices, cost of living, etc… occasionally been told to suck it up, and shut it, and so on..

when my point all along is that I see Canada getting worse from a far and every year I visit, see it just get stupider and stupider and the population get angrier and pissed but…only say so after a 6 pack and a wine or two…

yeah, I like my booze.

I really don’t think Canadians notice it so much because they live it everyday. It’s like putting on 1 kg a year and then all of a sudden you are surprised that you are 16 kg overweight???? WTF?

That is how I see the crap that is going on in Canada…but obviously all is ok since, no one complains and Canadians just take it and like it..like we were born to do. The powers to be really do have a hay day with Canada.

Until the tyranny and anger gets too bad (which will never happen in Canada), then nothing will change, so get used to being told how to live and who deserves what and so on and so on.

Land of the free…or debt slaves to the big banks and elites.

#44 Mike on 09.12.17 at 6:28 pm

.
Doctors(or any other “professional” corporation) are NOT small Biz.

They pretend to be one to make corporations, and issue fake paychecks to spouse to sprinkle income and get income at 18% dividend rates while middle class folks pay 25-40% tax rates.

Enough Tax cheating, Go T2!!

#45 Soviet Capitalist on 09.12.17 at 6:30 pm

If a drama teacher is put in charge, then there will be lots of drama.

#46 MF on 09.12.17 at 6:31 pm

27 Yuri on 09.12.17 at 6:02 pm

“Less red tape” in communist China?

Our current government is garbage yes, but nothing matches the paranoia of some full fledged communist state like China.

Or dictatorship/ banana republic like the rest of those countries on your list where criminals hide and corruption is rampant.

MF

#47 pay your taxes on 09.12.17 at 6:37 pm

“Some days ago I showed you the difference between the rich and the rest. The wealthy hold assets while the not-so-rich hold debt.”

That’s a shock. So people with higher incomes, lower tax rates, and the ability to shelter earnings inside a corporation use that discretionary income to buy assets? And when they want to liquidate those assets it can be paid out in the form of a dividend or converted to a capital gain and taxed at the lowest possible rate, which begets even more income. And they can pay dividends to their 4 year old twins and 99 year old dotard parents? Sounds equitable to me.

The doctors are the strawmen in this argument, to be trotted out when the privileged want to keep those privileges intact. What about the real estate agents and movie business guys? There are plenty of unsympathetic characters who incorporate to reap those tax dodges. And those dodges were never legitimate in anyone’s eyes, except those invited to the party.

Let’s see how they do when they pay the same tax rates as the deplorables and lose the benefit retained earnings and these sleazy dividend schemes. My guess is that they’ll be fine and life will go on much as it did in the days of yore. They can still max out their rrsps and tfsas like the rest of us, so what’s all the fuss?

#48 Guy in Calgary on 09.12.17 at 6:40 pm

I mean, we could just turn the government workers pension into defined contribution. That would free up billions but would never happen.

Why is it the all these things being done in the name of “middle class fairness” leave out Government employees? Why cant they go without for a change?

This is not a win for the little guy. This is not a win for the 1%. This is a HUGE win for the government and those that work for it. Maybe instead of dividing the 1% and the rest, we should divide the government from the rest of us.

#49 Danny on 09.12.17 at 6:43 pm

The question is how to influence government in between elections?
The problem is not Trudeau…at least he is out there speaking to the public on many occasions…more than Harper ever was…..the real problem is that most MPs are not accessible…not in their constituency offices…never……..do not even acknowledge receipt of emails and most times don’t even respond to your correspondence.
Too bad democracy in many ways does not work in between elections.
Maybe that is why I take to the street especially this year of Trump rallies for his base only and not for the American population….yes the Trump who still insists although he is a President that he is not a politician….sure maybe he is a clown and not the President.
For my part I have written to Trudeau and Morneau and voiced my opinion…..to keep income sprinklering…..but up to a maximum to help those family farms small businesses who legitimately have need for family sharing in the business.

#50 Worst Index on 09.12.17 at 6:43 pm

#13
Teranet indicates zip. The worst index in the land. — Garth

It is the only index that exhaustively lists methodology.
Until others do the same, it is the best index in the land in my book.

https://web.archive.org/web/20160305221350/http://www.housepriceindex.ca/documents/MethodologyEN.pdf

If you can’t publish methodology, you are mucking about, or worse, hiding something.

#51 joblo on 09.12.17 at 6:44 pm

Hmmm.. just wondering how Aga’s Bell Island in the Bahamas faired during Irma?
Will T2 be vacationing there this winter?
Will Kanada send tax money to rebuild?

#52 Tremblant110 on 09.12.17 at 6:44 pm

Tax law needs to be reviewed very carefully. The government singles out specific groups for tax increases e.g private corporations and avoids others seniors. Politically motivated. Some folks I know worked out of Canada for most of their lives because of taxes and when they retired moved back to Canada particularly for health care. Its a complicated system that fully understanding actions and reactions is the challenge.

#53 M on 09.12.17 at 6:47 pm

“[..] save yourself. Barbarians at the gate.”

– indeed. And there is NO escape except buying a boat and sailing into the sun set.
..yeah..ok.. put a trade at 14:00GMT

Barbarians will make us lots of $

#54 Screwed Canadian Millenial on 09.12.17 at 6:50 pm

Hey Garth, there is either a LABOUR SHORTAGE that somehow requires half a million Temporary Foreign Workers and 320,000 immigrants per year or the economy is so weak that wages can’t go up. Pick one ffs.

#55 Doug on 09.12.17 at 6:53 pm

Canadians were warned this was going to happen during the last election campaign. “Real Change” is gonna hurt more than we know.

#56 cards on the table on 09.12.17 at 6:54 pm

How about we get some full disclosure from T2 and Morneau who are both so called “trust fund babies” on where and how exactly their funds are vested and drawing income from. Are they using loopholes and living off tax free dividends?

Full disclosure please from those two in leadership.

Show us by example.

#57 Alex on 09.12.17 at 6:54 pm

To Mike,

I rent an office, purchase everything that is required to run it, repair all the instruments needed, have three secretaries and technicians working for me..
this is a business dude even though I am a doc (not incorporated)
every week off cost me 15K in unrealized ‘gains’

I give more than 300K in taxes each year.

how many of you can say so ???

This provides health and social care to dozens of canadians each year.

people are either ignorant of just jealous.

#58 Van poor man on 09.12.17 at 6:55 pm

As someone who falls into that “rich” vancouver bracket. People should see my 549 sq foot rental that we have to live our lavish lifestyle and continue to pay omen taxes. I don’t know when this gasbag goes but when it does, I can’t wait to continue paying more than my fair share of taxes despite doing everything in my power to shelter from tax. Feels like I have been fighting a losing fight, on one hand getting a very “impressive” profession but also feeling like never getting ahead.

#59 SimVan on 09.12.17 at 6:56 pm

All the comments cheering the tax increases are sad little have-nots who didn’t have the brains to go to school and get a degree worth more than the paper it was printed on or have the drive and ambition to start a business that earns actual money.

Enjoy suckling at the teat of your nanny state while it lasts.

Governments change. The NDP will not last in BC. The federal Liberals are gouging the very party members who fund party coffers and are calling them tax cheats.

I have been a lifelong federal Liberal. I will not be contributing to the party this year.

#60 Spock on 09.12.17 at 6:57 pm

#29 powder_hound86 on 09.12.17 at 6:09 pm

Have you considered that T2 and gang have a spending problem (and not a revenue problem) ?

I am trying to be nice since I was not sure if you were trying to be funny or just plain dumb.

#29 powder_hound86 on 09.12.17 at 6:09 pm

With people like you, the liberals just can’t win. You whine about deficit spending. Well, how do we plug the budget hole? We either increase revenues or we cut services.

If we cut services, whose pay is going to be cut? Probably health care workers, likely doctors. Same effect in the end.

These changes are NECESSARY. Now stop with the melodramatic rich man whine that high income business owners are going to be paying more taxes.

#61 Tim on 09.12.17 at 6:57 pm

The marginal rate for people making 250K is 54%. So the median income in Canada is $27k. People making 250K a year are making more than 97 percent of the population…my heart bleeds.

#62 BoomerKid on 09.12.17 at 7:01 pm

I agree with you Garth. Resistance is futile. You just have to watch it play out.

Small businesses will stop investing / growing and stop hiring people. People will lose jobs. It’ll take a good 5 years or so to happen. To think that changing effective tax rates in the order of 30-50% will not change behavior shows a complete lack of understanding of human psychology and behavioral economics.

Once the damage is properly done, the tide will turn and the public will freak out. Then, to try and solve the problem, governments will throw out money to try and get the businesses back (because if governments are good at anything, it’s throwing taxpayers money at stuff). Either that or we become communist.

For small businesses and incorporated professionals, I think there’s nothing to do, but move to a different jurisdiction, find a plump government job, or reduce your hours and just weather out the storm while you enjoy a happy, frugal, stress-free life.

#63 Spock on 09.12.17 at 7:03 pm

#41 Equality on 09.12.17 at 6:27 pm

Your definition of fair taxes must be very different than mine. Most of the income taxes ($ and % wise) paid right now are by high earners.

You probably know that realtors cannot incorporate and are sole proprietors (I believe brokers who own franchises can incorporate). This means that they have to declare all their earned income on their taxes. Same goes for cab drivers.

I agree with you that CRA should crack down on fake expenses. That would not be fair taxes since its already in the tax code. CRA just needs to catch these creative accountants and friends of yours implementing these creative tactics (fraud actually).

As mentioned above the examples you gave of real estate agents and cab drivers cannot hide any income inside a corporation.

Would be good if CRA can go after all the undeclared rental income while they are at it. Most homes in Brampton have tenants (multiple most times).

#41 Equality on 09.12.17 at 6:27 pm
I very much appreciate Liberal’s move on fair taxes.

In my circle, small business owners like real estate agents, taxi drivers, consultants have multiple expensive homes and cars. On top of that they get free education for their children, subsidized services, full child tax benefits, etc. as their income is either not reported or reported in such a Deceiving way that they intentionally fall under low income.

Salaried people with significant investment in degrees are called high earners even with 60-80K and miss all the benefits and keep on paying more.

I will appreciate if Liberals can crack down on those businesses who report no or very low income as they hide all the cash they receive, and unnecessary inserting of expenses which are not even part of their business.

People are using subsidized services and are in the low income category (but they have multiple expensive homes, cars, cash balance, etc.). This does not make sense at all. And we know who they are. They are not innocent salaried employees.

#64 Grey Dog on 09.12.17 at 7:03 pm

26 Dennis
I really feel sorry for the kids in university these days…networking parents often get them into the game these days I fear. Other real successes are COOP programs for post secondary school.

I know of one kid without a lot of confidence going through as a vet technician, endingup doing this job at University of Guelph, where she was always demonstrating to vet students how to do stuff. Profs noted her skill and encouraged her to apply as a Vet student, all the while taking shifts to pay her way through, ended up being a success all around.

#65 Ian on 09.12.17 at 7:04 pm

Please for the love of f could no one mention Teranet ever again lol. Should be completely ignored as a data source.

And for those wishing for higher minimum wage, look into what happened in American Samoa when it was introduced there, how it ruined peoples lives when they all lost their jobs. Stupidest most misguided policy ever. When Brown wins I hope he abolishes it.

#66 Fran Deck Jr. on 09.12.17 at 7:04 pm

DELETED

#67 Spock on 09.12.17 at 7:05 pm

#43 Mike on 09.12.17 at 6:28 pm
.
Mike: give it a rest. Shouting the same thing again and again does not make a difference to what you said earlier and neither does it make it right.

You remind me of what Mark Twain said long time back:

“Most people use statistics like a drunk man uses a lamppost; more for support than illumination”

————

#43 Mike on 09.12.17 at 6:28 pm
.
Doctors(or any other “professional” corporation) are NOT small Biz.

They pretend to be one to make corporations, and issue fake paychecks to spouse to sprinkle income and get income at 18% dividend rates while middle class folks pay 25-40% tax rates.

Enough Tax cheating, Go T2!!

#68 Screwed Canadian Millenial on 09.12.17 at 7:05 pm

Time to debunk the conservative lies about the minimum wage once and for all. Seattle went to $15/hour. They were the first. They were the pioneers. All the conservatives and corporate shills claimed it would be economic armageddon. They claimed jobs would be lost. Well as always, these shills were wrong and proven to be nothing more than liars.

Here is a chart of Seattle employment. https://fred.stlouisfed.org/series/SEAT653NA

Look at that. Straight line up. No job losses. Their unemployment rate is down to 4%. Better than pretty much any Canadian city. Seattle is BOOMING.

Where are the job losses that the conservative and corporate shills promised me? They never happened.

Here is right wing economics in a nutshell. https://imgur.com/12PADCG

As a bonus, here is Seattle food sector employment. https://fred.stlouisfed.org/series/SMU53426607072200001SA

Booming as well. I thought they were all going to lose their jobs?

Conservatives don’t give a damn about the poor. They just stop pretending that they do. Conservative ideology is all about keeping hard working men and women as poor as possible so that the few wealthy elites at the top can get filthy rich. Conservatives somehow believe that corporations making millions and billions of dollars in profits can’t afford to pay their workers a god damn decent wage.

When workers have more money to spend, THE ECONOMY DOES BETTER. Not rocket science conservatives. https://www.youtube.com/watch?v=8wAa9DqHZtM

What the hell did hard working Canadians and Americans do to conservatives for them hate to them so much? What the hell do conservatives have against higher wages FOR WORKING PEOPLE. These aren’t bums. These are HARD WORKING MEN AND WOMEN.

Half of Canadians making under $30,000 per year but conservatives think the outrage is minimum wage workers not being poor enough.

The Seattle minimum wage was such a huge success that conservatives can no longer lie that it kills jobs so you know what they say now? That workers lost hours. Which is total and utter bs. The vast majority of job openings in Seattle are FULL TIME. https://www.indeed.com/l-Seattle,-WA-jobs.html

Conservatives don’t understand what a 4% unemployment rate means. It means it’s a tight labour market. It means workers have the power. It means employers have to offer better wages, hours, benefits, etc. It is conservatives and corporations’ worst nightmare.

The min wage workers LOVE the minimum wage hike. THEY LOVE IT. The only people complaining about it are conservatives and corporate shills. SO just stop pretending you care about workers. You don’t. At least be honest.

UW minimum-wage study doesn’t reflect reality of work in Seattle
http://www.seattletimes.com/opinion/uw-minimum-wage-study-doesnt-reflect-reality-of-work-in-seattle/

Conservatives, it’s simple, show me all these massive job losses in Seattle. Oh no.. YOU CAN’T.

https://fred.stlouisfed.org/series/SEAT653NA

Minimum wage increases are ‘supercharging’ economy, says U.S. multimillionaire
http://www.cbc.ca/news/canada/british-columbia/minimum-wage-increases-are-supercharging-economy-says-u-s-multimillionaire-1.3124917

Garth please don’t delete. I was nice and I didn’t even swear. The truth hurts sometimes.

The ONE point I will concede is that min wage increases do need to be staggered and you can make the claim that it is too much too fast but quite frankly we should have been at $15 already.

Hell even Fox News admits it.

Job growth picks up in states that raised minimum wage
http://www.foxnews.com/politics/2014/07/19/job-growth-picks-up-in-states-that-raised-minimum-wage.html

Seattle did it perfectly and many cities and states are following suit. Workers, with spending power and disposable income are what fuel an economy and create jobs. Not billionaires sitting around the pool waiting for the dividend payment to come through.

That’s enough for my rant today. Thank you. Garth triggered me with his conservative elitism, I’ll admit it lol.

#69 diharv on 09.12.17 at 7:08 pm

2017/18 , the year Canada and the provinces killed small business .

#70 FOUR FINGERS WATSON on 09.12.17 at 7:08 pm

What a bunch of whiners. Turdo told you during the campaign that he was going to borrow billions and billions and billions of dollars to pass around. He has to raise taxes to balance the budget. Did u think that the budget would balance itself ? Dummies. And he will get elected again cuz he is taking from the rich and giving to the poor who will vote for him in droves….i know, i know….the hair, the tats, the expensive suit, the name…..and the other guy was fat and ugly and had a bad hairpiece. We got what we deserve.

#71 Screwed Canadian Millenial on 09.12.17 at 7:11 pm

Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?

https://fred.stlouisfed.org/series/SEAT653NA

https://fred.stlouisfed.org/series/SMU53426607072200001SA

#72 X on 09.12.17 at 7:11 pm

Too bad voters couldn’t have a checklist to indicate where they would like their tax dollars to go….that would put and end to alot of these foolish endeavors that the gov’t funds on our behalf.

#73 yorkville renter on 09.12.17 at 7:16 pm

if I’m going to get taxed like in Europe, I might as well live there…

#74 Damifino on 09.12.17 at 7:17 pm

#29 powder_hound86

These changes are NECESSARY.
—————————–

No, they AREN’T.

The amount recovered won’t amount to a hill of beans compared to the 30 billion deficit the Feds will create in each of the next three years. BTW, that’s the 10 billion deficit announced during the campaign that has now tripled without a peep from the general public.

These changes are pitting Canadians against each other, just as they were designed to do. El Comandante would be so proud of the boy if he were here today.

#75 TurnerNation on 09.12.17 at 7:18 pm

Hey…I shop at Dollarama. And my gross income/yr is, at least equal to my IQ. ;-)

#76 Fran Deck Jr. on 09.12.17 at 7:18 pm

#18 Bring It On

You must be mentally retarded … seriously, your comment is pure BS …. you’re a dirty lying liberal troll

#77 Old Dog on 09.12.17 at 7:18 pm

I think you’re right Garth. The war has been lost. I’m a really old boomer, so I have to laugh when I hear some young folks tell me how it was when I was young. It’s always good for a chuckle.
A link to this story was posted some weeks back by someone on this blog. Sorry I can’t remember who. The original author is not known. It’s time to read it again.

“How Taxes Work . . .
This is a VERY simple way to understand the tax laws. Read on — it does make you think!!
Let’s put tax cuts in terms everyone can understand. Suppose that every day, ten men go out for dinner. The bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men — the poorest — would pay nothing; the fifth would pay $1, the sixth would pay $3, the seventh $7, the eighth $12, the ninth $18, and the tenth man — the richest — would pay $59.
That’s what they decided to do. The ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement — until one day, the owner threw them a curve (in tax language a tax cut).
“Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily meal by $20.” So now dinner for the ten only cost $80.00.
The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still eat for free. But what about the other six — the paying customers? How could they divvy up the $20 windfall so that everyone would get his “fair share?”
The six men realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would end up being PAID to eat their meal. So the restaurant owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so the fifth man paid nothing, the sixth pitched in $2, the seventh paid $5, the eighth paid $9, the ninth paid $12, leaving the tenth man with a bill of $52 instead of his earlier $59. Each of the six was better off than before. And the first four continued to eat for free.
But once outside the restaurant, the men began to compare their savings. “I only got a dollar out of the $20,” declared the sixth man who pointed to the tenth. “But he got $7!”
“Yeah, that’s right,” exclaimed the fifth man, “I only saved a dollar, too … It’s unfair that he got seven times more than me!”.
“That’s true!” shouted the seventh man, “why should he get $7 back when I got only $2? The wealthy get all the breaks!”
“Wait a minute,” yelled the first four men in unison, “We didn’t get anything at all. The system exploits the poor!”
The nine men surrounded the tenth and beat him up. The next night he didn’t show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered, a little late what was very important. They were FIFTY-TWO DOLLARS short of paying the bill! Imagine that!
And that, boys and girls, journalists and college instructors, is how the tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore.
Where would that leave the rest? Unfortunately, most taxing authorities anywhere cannot seem to grasp this rather straightforward logic!”

#78 The Lesser Fool on 09.12.17 at 7:25 pm

@47

Don’t forget fireman, policeman, etc. Good salary, and rightly so. The pension is a bit rich though. They are well paid for the risk, but a 80% pension to boot? That is another reason our taxes continue to grow.

#79 Felix on 09.12.17 at 7:27 pm

Outrageous anti-feline RACISM!!!!

APOLOGIZE GARTH!!!!!!!!!

Or we will scratch your eyes out!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

#80 domain on 09.12.17 at 7:27 pm

This is exactly this kind of class-warfare being waged against a small group of people to transfer their capital to the undeserving, which makes me hang onto the feasibility bail-ins.

The argument can be made whether or not our banks become capital impaired during some combination of severe housing crisis and another headwind like a slowdown in the global economy, but the point worth stressing is that if they do, then expect to be a part of the ‘recapitalization’ if you have funds in the bank >100k, or uninsured products or accounts.

Garth, I know your position on the bail in regime and yes it does say that insured deposits won’t be impacted, you are correct. But with this current government willing and eager to change the rules under the guise of fairness, and the oppressed vs oppressor model used by opportunists, I have a theory in the case of a systemic crisis in the Canadian financial system:

Let’s say that we one or more major bank become capital impaired during a sufficient crisis, where the amount of insurance set aside with CDIC is insufficient to cover a claim. Since most consumers don’t have a few hundred dollars left in their balance at the end of their bi-weekly pay cycle, they are insignificant in terms of their share of the demand deposits on individual levels, but in aggregate they will be a sufficiently large group.

So in this case, suppose we have a claim that is 2x the size of the insurance, then the gov has a couple of options: 1) Seek additional funds from Canadian taxpayers or 2) Lower the insurance amount per individual so that the insurance covers the claim. This example would see your deposit insurance fall from 100k to 50k in the case of claims 2x that of insurance.

So after the previous bailout era in 2008 and the ensuing occupy wall street movement with unhappy taxpayers, large bailouts like option #1 would no longer be palatable. However, option #2 would likely impact a small portion of the population, and one which would be viewed as an insignificant for a liberal vote seeking government.

After all, such a maneuver would only be yet another example of the ‘rich’ paying their fair share right? And that 100k insurance would become another ‘loophole’ designed to benefit the wealthy only.

So with the stroke of a pen, you cut the liabilities to the banks to save their asses, and the brainwashed taxpayers rejoice in yet another proletariat victory over the evil bourgeois. And by confiscating more scarce capital that can no longer be a part of the productive activities that everyone’s living standard relies upon, we all share in the decline of living standards.

#81 blowing sunshine on 09.12.17 at 7:30 pm

Seriously, the doctors again?? Every year we have grads foaming at the mouth to get into a med school in Canada so they can become doctors, we even have thousands that can’t get into a CND medical school going overseas and trying to find a backdoor into the profession. What risk is a doctor taking? their fees (whether they like the rate or not) is guaranteed by the tax payer. We have a net inflow of doctors into Canada. Doctors are important in our society, but they are not special snowflakes that we need to pamper. The states is not a very attractive option when you consider the huge insurance and admin costs to run a practice, and of course actually even getting a visa. Europe pays the same or less than our Docs, so the histrionics about a mass exodus is hyperbolic at best. I am so tired of doctors constantly saying any (down ward) change in their compensation will “negatively impact their patients’.

#82 bring it on on 09.12.17 at 7:32 pm

#75 You must be mentally retarded … seriously, your comment is pure BS …. you’re a dirty lying liberal troll

Not a troll, just a family with a different mindset, and with a viewpoint orthogonal to the BS that comes out of the Fraser Institute. You are an idiot not to believe that there are some people in the top 2% of wage earners who would still enthusiastically vote for a Bernie Sanders type candidate (we know of many such people in our social group).

#83 Triplenet on 09.12.17 at 7:37 pm

#62 Spock

Realtors MAY incorporate.
PREC – Personal Real Estate Corporation
……Wow, keep up Bro.

#84 NoName on 09.12.17 at 7:41 pm

Must read especially for doctors.

https://www.bloomberg.com/news/features/2017-09-12/why-american-workers-pay-twice-as-much-in-taxes-as-wealthy-investors

#85 Spock on 09.12.17 at 7:42 pm

#82 Triplenet on 09.12.17 at 7:37 pm

I don’t think that is allowed in Ontario. Looks like only in BC.

Thanks for the info.

#82 Triplenet on 09.12.17 at 7:37 pm
#62 Spock

Realtors MAY incorporate.
PREC – Personal Real Estate Corporation
……Wow, keep up Bro.

#86 Screwed Canadian Millenial on 09.12.17 at 7:45 pm

@#60 Tim

The marginal rate for people making 250K is 54%. So the median income in Canada is $27k. People making 250K a year are making more than 97 percent of the population…my heart bleeds.

————————–

You nailed it Tim. Half of Canadians making under $30,000 a year but I’m supposed to be feel bad about about a few at the top paying an extra 1% on income OVER $150,000. Give me a break! My world tiniest violin gently weeps.

You want more govt revenues? Let’s get wages up.

#87 re., blowing sunshine on 09.12.17 at 7:46 pm

I am so tired of doctors constantly saying any (down ward) change in their compensation will “negatively impact their patients’.

…..

it’s not a threat , its honesty. You’ll see

btw., incoming flow of doctors? they need an OHIP number. That’s granted by the province. The province limits them cause its damn expensive to have too many doctors.

this may actually cost provincial health care a ton if they need to panic and start recruiting. The ultimate irony. It’s what happens when the inmates are running the asylum. Going to be fun to watch…:)

#88 Royal City Dweller on 09.12.17 at 7:49 pm

Every Other Comment Today
Simply CONFIRMS:
BARBARIANS AT THE GATE!
Yes, War it is.

#89 Paul on 09.12.17 at 7:51 pm

It’s true that machines will be replacing many minimum wage workers, but this would happen the same even at $9/hr, just at a slightly slower pace.

I am a salary employee, but I agree that this tax scheme is a huge mistake. Those who disagree should either try some math or logic exercises, because they are implementing neither.

I’m currently in Japan and Canada’s public sector fatty culture of excess is apparent from here. Canada’s diminutive mass transit system must spend infinitely more moving each person, with our insanely fancy stations. Compare their rather utilitarian stations to our overdone architectural wet dreams. Take also Osaka airport, in a city many times more populous than Vancouver, where vinyl flooring, plain walls, and low ceilings abound. Compare to Vancouver where million dollar art installations, imported stone floors, and rare wood details abound. I’m not saying cutting these would save our small businesses, but it is physical evidence of the excesses of our public sector.

#90 Spock on 09.12.17 at 7:52 pm

#70 Screwed Canadian Millenial on 09.12.17 at 7:11 pm

Since this joker only puts links that suits his limited intellectual here are some links for other readers which point to studies (one commissioned by City of Seattle) which says that the minimum hike was bad for minimum wage workers.

Dumb Millenial: Make sure you read properly the following links. Always two sides to a story

http://to.pbs.org/2usTE3E

http://wapo.st/2wVlruP

http://read.bi/2eTWrtc

http://lat.ms/2shLavF

—————

#70 Screwed Canadian Millenial on 09.12.17 at 7:11 pm
Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?

https://fred.stlouisfed.org/series/SEAT653NA

https://fred.stlouisfed.org/series/SMU53426607072200001SA

#91 the Jaguar on 09.12.17 at 7:53 pm

Stock Markets, tax avoidance or evasion, real estate gluttony. It all seems meaningless in the greater scheme of things today. There are more important events going on… Like love of nature and Canada’s beautiful National Parks. Love of province and preserving history. Deep in the south brave folks are fighting with everything they have got to save the historic Prince of Wales Hotel in Waterton Park. The old girl is made of wood and she is under attack of forest fire. But she won’t be abandoned. We’ll save her and the other historic buildings.

http://globalnews.ca/news/3737980/waterton-wildfire-calgary-firefighters-critical-in-battling-blaze/

#92 Victor V on 09.12.17 at 7:54 pm

#23 Idealistic or Naive on 09.12.17 at 5:57 pm

Scandinavia is not the utopia many dream it to be…

https://www.theguardian.com/world/2014/jan/27/scandinavian-miracle-brutal-truth-denmark-norway-sweden

#93 Fran Deck Jr. on 09.12.17 at 7:55 pm

@#3 NoOneOfConsequence

You’re confusing Zoolander’s tax ‘reforms’ with Wynne’s minimum wage proposals … which is to be expected of someone who has never worked and earned a living … anyone who cheers for socialism is only demonstrating their complete ignorance of the horrors of communism and that is the road this country is on because it won’t end with excessive taxation and marginalization … God-given individual freedoms should be the focus of our society and that means less government, lower taxes, less regulation, accountability and the rule of law that will eradicate the corruption and malfeasance from all levels of government in this once great country which has been hijacked by pathetic, small-minded, lazy SOB’s such as yourself.

#94 Spock on 09.12.17 at 7:56 pm

#85 Screwed Canadian Millenial on 09.12.17 at 7:45 pm

No one wants you to be sorry for them. You should be sorry for yourself first (which is not possible because of the blinders you have on and/or limited intellect)

What I am shocked at is that someone is employing you and paying you $30,000.

You should tell your employer about your views about business owners and the folks making more money than you. That should give you a raise.

————————–

#85 Screwed Canadian Millenial on 09.12.17 at 7:45 pm
@#60 Tim

You nailed it Tim. Half of Canadians making under $30,000 a year but I’m supposed to be feel bad about about a few at the top paying an extra 1% on income OVER $150,000. Give me a break! My world tiniest violin gently weeps.

You want more govt revenues? Let’s get wages up.

#95 slick on 09.12.17 at 7:57 pm

Years ago, my Father and I, [both farmers] took some scrap metal to the junkyard. There was a fella working there, kinda dirty job. As we left I commented that I wouldn’t want to work there. My old man said ‘He goes home at 5 o’clock. the only investment he has, is what he paid for his lunch pail’. I was in the barn till 9 that nite.

#96 Jungle on 09.12.17 at 7:58 pm

Canada is turning more socialist and that is the direction they are going. Don’t expect taxes to go down.

There is no incentive in GOV trying to save money. People just want more programs, and expect the GOV to take care of everything

#97 Spock on 09.12.17 at 7:58 pm

#76 Old Dog on 09.12.17 at 7:18 pm

Do not make Screwed Canadian Millenial read your example. SCM will not get any sleep for next few days trying to understand the complexity of the example :-)

#98 Doug t on 09.12.17 at 8:03 pm

None of the parties in this country have a clue – they are stuck in an outdated model and just regurgitate old and tired policies. We need a revolution of imagination and change – this sh*t gets so boring. The people of this country are apathetic and pretty much lazy –

“So I want you to get up now. I want all of you to get up out of your chairs. I want you to get up right now and go to the window. Open it, and stick your head out, and yell, ‘I’m as mad as hell and I’m not going to take this anymore!’ Things have got to change.”

RATM

#99 oopswediditagain on 09.12.17 at 8:05 pm

On a different note, many “bulls” fought and argued that OSFI’s new legislation wouldn’t impact renewals. It would appear that the Mortgage Professionals Canada know what OSFI’s intentions are.

https://mortgageproscan.ca/en/post/submission-to-osfi

“We also recommend consideration be given to individuals who currently hold mortgages. If a 200 basis point stress test is implemented above contract rate, and rates do in fact rise over their term, many may no longer qualify for a renewal. They will see an artificial 200 basis point increase over their actual interest rate increase. We recommend that mortgage renewals be permitted to qualify at their contract rate without an additional stress test. Similarly, an exception to the qualification should be made for individuals who port their mortgage because they move mid-term and do not increase, or reduce, the outstanding loan amount.”

#100 How about a poll? on 09.12.17 at 8:05 pm

It appears the majority of blog commenters are in favor of the Morneau measures. Or is that a wrong impression? How about doing a poll in one of your next blog posts, Garth? You have the benefit of being able to influence the results by phrasing the questions -:)

#101 Screwed Canadian Millenial on 09.12.17 at 8:06 pm

@#91 Spock

You failed miserably. Just as predicted.

I knew you would.

All you can do is spew childish personal insults because you have 0 arguments and you know it.

#67
#70

“Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?”

https://fred.stlouisfed.org/series/SEAT653NA

https://fred.stlouisfed.org/series/SMU53426607072200001SA

http://www.greaterfool.ca/2017/09/12/war-3/comment-page-1/#comment-540552

Why are you so triggered by me btw? Everyday you seem to comment about me.

Don’t respond until you show proof of all those job losses in Seattle that you promised.

#102 Mean Gene on 09.12.17 at 8:08 pm

I remember in 1985 minimum wage in BC was $3.64 per hour. I plugged that into the BoC inflation calculator, in todays dollars it would be $7.52 ph.

#103 Rabbit One on 09.12.17 at 8:08 pm

This is why governments don’t want to touch anything on real estate.
The shortest way to do more government spending, charging and increasing taxes more and more.

It is proven, the easiest way to inflate wealth for majority of people.

This methods has been failed in many other countries, but in Canada, with only 35 million population, any wrong policies would survive many more years.

70% of home owners feeling good.
Property value appreciates more than their gross income every year.
No matter how much you make, $40K per year, $200K per year.
Consider after tax income on those two group, plus tax free paper gains on houses, differences are very little on those two groups.

But for how long more?
Only time will tell…

#104 blowing sunshine on 09.12.17 at 8:08 pm

‘btw., incoming flow of doctors? they need an OHIP number. That’s granted by the province. The province limits them cause its damn expensive to have too many doctors.’
That is simply not true, the province doesn’t limit OHIP numbers, but they should, or at least restrict incoming docs to only bill in the north or areas that need doctors (we actually have too many docs in Ontario-just not in the places we need them) We have high standards, and so it’s difficult to get a license, but once you do there is no ‘quota’ on billing numbers. And we do have a net inflow of doctors into the country, with a significant interest from more docs in the states. check the stats and facts, https://secure.cihi.ca/free_products/Summary_Report_2015_EN.pdf

not histrionic comments on right wing websites…

#105 Screwed Canadian Millenial on 09.12.17 at 8:09 pm

@#76 Old Dog
@#96 Spock

Found a picture of you 2 keks.

https://imgur.com/L80elBi

#106 Mean Gene on 09.12.17 at 8:10 pm

Ooops $3.65 per hour.

#107 Idealistic or Naive on 09.12.17 at 8:13 pm

#91 Victor V

Thank you for the link, but I trust my four years of direct observations and experience living in Scandinavia more than an old article written in a British newspaper.

No place is utopia, but there has to be something to those countries winning happiest place on earth for years in a row.

#108 earlybird on 09.12.17 at 8:13 pm

Tax the robots or create an automation tax!
Why didn’t minimum wage go up when times were booming? Take a look around, its not just “kids or students” working for that pay. There are a lot of folks trying to survive on a buck or 2 about that amount. Long overdue…Loonie stores and Banks are performing well, says a lot about the economy…

#109 Silver on 09.12.17 at 8:13 pm

i have several government employees/administrators next door living well of the $200 = grand a year they make with 1 month holiday a year… pensions and indexed everything. they only work 8 hrs a day and get weekends off…

how about we tax their pensions… being held for when they retire. or the houses they all bought with my coin and government guarantees

… or perhaps minimum wage should be the same as the starting wages for all public employees… oh and benefit packages to match… that would sort equality out fast… if thats what we are talking about.

oh wait they couldn’t afford their sta-bucks every day then cause it would cost them $30.00 bucks for each coffee they drink on their paid for breaks…
\
Silver

#110 Ex-Cowtown on 09.12.17 at 8:15 pm

Until T2 decided to diddle I was thinking about buying a friend’s small business. I’ll pass now. His problem is that he likely just saw 60% of his equity go up in smoke. Wouldn’t surprise me if he has to layoff the people he just hired.

Just when you thought it was safe to go back in the water……

#111 Manitoba Whale on 09.12.17 at 8:23 pm

#70 Screwed Canadian Millenial on 09.12.17 at 7:11 pm
Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?
*****
Here is one for you.
We have 5 employees at the low end of our wage scale who are paid between 15.00 and 17.50 right now, in Ontario. Guess what, they are going to want an increase.
What to do? Real life problem.
At our business meeting last month we decided we are going to raise their wages a bit and ask them to pick up some tasks that two kids under 16 were doing this summer and part time on weekends. Kids have been doing these jobs for years. Hate to do it, but that is real life. True story.

#112 Fran Deck Jr. on 09.12.17 at 8:23 pm

DELETED

#113 Capt. Serious on 09.12.17 at 8:24 pm

Definitely it is now time for me to seriously look at relocating to our US office. They want me down there anyway, and I’ve only been resisting because I like the city I live in. If I’m going to face a steady headwind to my finances here, maybe time to reevaluate.

#114 Smoking Man on 09.12.17 at 8:25 pm

Anyone who doesn’t figure out a way to cheat the tax man after this is law. Is complete moron.

73% is not fair. It’s confiscation. The T2 Librals are theives of epic proportions.

Cheat where ever you can.

#115 Manitoba Whale on 09.12.17 at 8:30 pm

…there are some people in the top 2% of wage earners who would still enthusiastically vote for a Bernie Sanders type candidate..
*****
Lol, almost spit swallowed my beer. Keep the zingers coming!

#116 Index on 09.12.17 at 8:33 pm

#64 Ian

Dude, it is the closest thing we have to Case Shiller Index, here in Canada.

Do you think Americans ignore repeat sales index?
https://en.m.wikipedia.org/wiki/Case–Shiller_index

#117 conan on 09.12.17 at 8:35 pm

#48 Danny on 09.12.17 at 6:43 pm

Farmers do not have much to worry about IMHO. . Income sprinkling is paying a wage to arms length people who do little,or no work.

Everyone living on a farm works, so CRA will just assume its a pay check for services rendered. The problem would lie in the multi generational family farms, that have zero debt, and millions invested.

Scheer, and Skippy the Finance Critic, make it sound like its a tax on average people, it is not.

#118 Screwed Canadian Millenial on 09.12.17 at 8:37 pm

#89 Spock

So again, not 1 shred of evidence of JOB LOSSES. You know what the funniest part about you is? Do you ever notice that the Seattle min wage workers LOVE the minimum wage increase. They LOVE IT. They’re not complaining. The only people complaining are the conservatives and corporate shills. Really makes you think.

Didn’t I tell you to be honest and stop pretending you give a crap about workers. They love making $15/hour. They’re not complaining. You are.

Seattle employment: https://fred.stlouisfed.org/series/SEAT653NA
Straight up. No job losses.

The min wage workers love the $15/hour min wage but corporate shills want to claim it’s bad for them. Lol what a joke.

UW minimum-wage study doesn’t reflect reality of work in Seattle
http://www.seattletimes.com/opinion/uw-minimum-wage-study-doesnt-reflect-reality-of-work-in-seattle/

Conservatives have been so twisted by their hatred for workers, that they are now trying to claim that 4% unemployment, rising wages, soaring employment and a booming economy are BAD because that’s what the wealthy elites programmed them to believe.

SAD!

Look in the red square (don’t get triggered), boomer. This isn’t complicated. https://imgur.com/n2H0Mus What do you see?

You can’t even argue, you just spout some corporate shill headlines and do as you’re told like the good little boy that you are. So obedient. The wealthy elites command, and you obey. There’s a word for that.

Wow, how come Seattle has so many full time job openings if corporate shills are telling me it’s a part time temp nation (oh wait that would be Canada).

https://www.indeed.com/l-Seattle,-WA-jobs.html

#119 Sham the Sham on 09.12.17 at 8:37 pm

#1 TurnerNation

“Now, I suspect their tact is to flood in ‘migrants’ into QC until the services split at their seams. Cultures will rift.
We have daily funny pet videos on socialized media. Why not a daily migrant count with costs. Silence? (Exactly). ”
====================================

It looks like Garth must be mellowed out on his forth Scotch to let this through. Usually he doesn’t allow any criticism of our wonderful migrants/refugees

I thought it was useful to showcase how morons think. — Garth

#120 Linda on 09.12.17 at 8:37 pm

So what comes after they’ve driven ‘the rich’ out? Or beggared them to the point where they become ‘the poor’? The obvious answer is to flee the country but the question is whether one can transfer financial assets w/o penalty? I’m presuming there are penalties or restrictions? It seems the term ‘golden handcuffs’ may apply.

#121 Screwed Canadian Millenial on 09.12.17 at 8:39 pm

If the $15/hour minimum wage is so bad for workers, then how come workers across the country are fighting for it and the ones who have gotten it (like in Seattle) LOVE IT.

It’s almost like conservatives and corporate shills are completely full of sh*t.

https://imgur.com/12PADCG

#122 Lonely in Montreal on 09.12.17 at 8:41 pm

If there ever was a time to get out of the Socialist Republik of Canuckistan, this certainly seems to be it! Only of course if you are professional who has something to offer the world and can get a job outside this ever-more-marxist paradise. On the other hand, if you are a parasite (especially of the public employee variety) then definitely stay put – you’re in paradise!

#123 FOUR FINGERS WATSON on 09.12.17 at 8:45 pm

My gf was shocked when Turdo won the election. She thought she was voting for Justin Bieber.

#124 Walter Safety on 09.12.17 at 8:46 pm

The Feds are messing with the wrong people. Just because the Feds have the guns and the jails they think people are afraid to push back.
They pick a fight with busy resourceful people and expect to win. Compliance will decrease . People will rearrange their lives .
The self employed are most upset about the direction of the message the Feds are sending.Now we have to change direction again , slowly, steadily, quietly.

#125 Pete on 09.12.17 at 8:47 pm

#41 Equality

All these greedy cry baby small business people have avoided paying taxes for years. Instead of being thankful for being allowed to steal Canadian taxpayers money they complain. Well complain all you want. It’s coming .

#126 Pete on 09.12.17 at 8:50 pm

Except for doctors. They should be allowed to do what they want .

#127 For those about to flop... on 09.12.17 at 8:54 pm

Don’t worry about Cowtown Deathwatch in Vancouver it’s all about Chevron Deathwatch.

I reported a couple of weeks ago the one at Oak and 41st had closed down most likely to be replaced by condos.

Well I drove by the one on Alma and Broadway today and the Chevron there has met the same fate.

Both of these Chevrons have signs on the construction fence directing you to the same small one on McDonald and 16th and that one is on a corner lot and so the last person out turn off the pump.

I’ve been here 15 years and no one has ever said to me ” You know what ,I would really like to buy a place at 41st and Oak for 600k that would make my life easier”.

Apparently Park Elise on the corner of 29th and Cambie sold out with average of $1200 sq ft, which is great for the developers but to live there ,there is not much around except other construction projects and a Skytrain station ,besides Queen Elizabeth Park.

My point is because they are flattening the gas stations ,mum and pop restaurants,non chain coffee stores ,non chain dollar stores,when the condos come in there is not much to sustain yourself.

From my rental,I pointed out the other day that my wife walks four blocks to work.
O.k that’s great for work,but what about the rest of life’s demands and needs especially since she doesn’t drive.

Within a 15 block walk we have 2 Supermarkets,one independent and one chain dollar store ,probably 20 restaurants,ten fruit and veg shops ,Doctor,dentist ,pharmacy all the banks ,library,community centre ,the two big coffee hounds….it goes on and on.

These people are paying top dollar and have none of this.Its probably good that some of them have a skytrain station or bus stop nearby because you are going to need it.

Build it and they will come is still the mandate here, but after cranking out the condos for decades now there still seems to be no master plan and to me it all looks very haphazard…

M43BC

#128 Joe Schmoe on 09.12.17 at 8:58 pm

#25 MF

I agree with most of what you write in the comment section.

I have met no one who would admit they supported the Liberals…well one guy (my MP, and he knows he is out of luck next election).

I think the Liberals pulled from the bottom of the deck…they got to 4/10 by soliciting the proud underachievers.

I think it will work for one more election. If legalization of MJ fails and people realize they are actually paying more taxes with these “middle class cuts” the party will be over.

The successful will maintain their wealth. The current Liberal supporters will stay on the bottom, and switch back to NDP.

The trust fund babies?…they make out like bandits! (no offence to Garth’s dog)…no mention of family trusts in all this tax collection. Clearly not a tax dodge…I mean the fearless leaders use these trusts, so they must be fair right?

#129 HDJ on 09.12.17 at 9:01 pm

Our tax system has obviously been designed to favour the financial interests of those with money and political influence. But the bad smell of inequity and unfairness has now even become evident to the Liberals, who themselves played a significant role in leading us to where we now find ourselves. In the same way that we need a healthy correction in the housing market, the tax system also requires changes. It’s not right that specially designed tax advantages are available to those with higher incomes (and it’s not right that the average family can no longer afford to purchase a house in most of our cities). We need some changes. I’m in complete support of the Liberal’s plan to move in the direction of increasing the fairness of our tax system. Our wealthy and thriving country is the home for all of its citizens, and that should mean no segment of society has the exclusive right to special tax advantages.

#130 Bezengy on 09.12.17 at 9:06 pm

Bus Driver Shortage? So a driver carrying 60 kids around, all of who have guardians who expect the driver to have total control of all the 60 kids aboard, gets a whopping $53.00 per day, starting at 7 AM and ending at 5 PM, (yes they work a split shift), and a government employee selling dope makes $28.00 per hour ($224 per day) in a union job. Glad our government’s are making things fair.

#131 No Logic on 09.12.17 at 9:08 pm

Good on you for deciding not to bring up the T2 taxes on small business and “doctors” because it was making us question your logic.

We have a socialist medical system, yet we have certain players in the system that want to engage in capitalist rules? Gimme a break.

Choose a full socialist medical system or a full-on capitalist medical system but please don’t try to cherry pick the best parts of both.

You want a full-on capitalist medical system? Then let’s blow up the artificial limits on how many doctors graduate in Canada each year. Let every businessman with the capital start a medical school and let him graduate doctors into the system at whatever rate he needs to turn a profit.

Let’s stop taxpayer support for medical education. If you think it’s expensive now, wait until the government doesn’t subsidize it any more.

Let every foreign trained doctor be allowed to practice so long as he/she can pass the qualifying exams.

If the government allows tradesmen from Ireland to be flown into the oil sands to work as qualified Canadian tradesmen, then why can’t we fly in foreign qualified doctors? What is the new age term I’m looking for….occupational racism? Different standards for different job classes.

#132 Spock on 09.12.17 at 9:10 pm

@ Screwed Canadian Millenial:

Not sure what that picture has to do with me or old dog. Maybe you designed it and want me to say how nice it is or how bad it is or you want to show me how you can google and find images. Anyways, I am very impressed.

Not sure what proof you have shown that jobs have not gone away. Since Seattle is so far away – we should find more reality come 2018 with Ontario jobs.

My employees already have a heads up about lesser hours. They are decent workers but there is a reason they make slightly more than current minimum wage (hint: not a skilled position). God bless them if they can find another person to give them more hours or pay them more.

If T2 goes ahead with his plans a couple of them will have no jobs at all. That will put some in the “job lost due to higher minimum wage” column.

Maybe you can try opening up a business and hiring a few millenials to counter the losses.

I am an equal opportunity commenter. Unfortunately, your posts have some of the most whining and misinformation.

Are you getting hurt by the childish intellect comment. I will not use that anymore and in one way I agree it is not correct – my apologies (anyways in reality you may be smarter than me depending on how smart is defined).

Always remember: the light at the end of the tunnel is a freight train and not the end of the tunnel.

#133 Spock on 09.12.17 at 9:14 pm

#120 Screwed Canadian Millenial on 09.12.17 at 8:39

Again you fail to understand the difference.

$15 minimum wage is great for those who can get it. Not so great for those who have lost their job and would have preferred having one with the $12 wage. Of course media will not trot out those who lost their jobs but the business owners know the reality because they are the ones who make these decisions (and not folks like you who work for them).

Why not $40 minimum wage. Go for it !!!

——
#120 Screwed Canadian Millenial on 09.12.17 at 8:39 pm
If the $15/hour minimum wage is so bad for workers, then how come workers across the country are fighting for it and the ones who have gotten it (like in Seattle) LOVE IT.

It’s almost like conservatives and corporate shills are completely full of sh*t.

https://imgur.com/12PADCG

#134 Gregor Samsa on 09.12.17 at 9:19 pm

So let us compare. You can:

a) Work in private industry or be self employed. No pension, 3 weeks holidays if you’re lucky, stagnant wages, poor benefits, being constantly asked to do more with less, a competitive environment where performance matters, and ever increasing rates of taxation shrinking your take home pay.

Or, b) Work in government: full pension, full benefits, constant raises indexed to inflation, 3 weeks starting vacation rapidly advancing to 6 weeks, little to no accountability or requirement to perform, 35 hour work week for many (City of Calgary for example), and all kinds of extra leave: stress leave, sick leave, family leave, volunteer leave, dog walking leave…

You’d have to be pretty dumb to not be actively seeking out public sector employment in Canada.

#135 Cow Man on 09.12.17 at 9:19 pm

#48 Danny

Sorry sir you are so wrong. When Garth was my MP not only did he reply to all inquiries, his responses were hand written. Don’t paint all MP’s with your personal experience. My former MPP in Grey Bruce was the same as Garth. He represented the constituents not the party in power.

#136 MSM-Free Zone on 09.12.17 at 9:21 pm

Increasing taxes on the wealthy….bad.

Increasing wages for the poor…….really bad.

We get it.

#137 James MF on 09.12.17 at 9:25 pm

“Up next may be the items that Morneau wanted to pass in the last budget, including increasing the capital gains inclusion rate and diddling with dividends.”

If Mr. Morneau diddles with dividends, specifically the break we get on Canadian dividends, then I will buy more companies outside of Canada. Others probably will, too, without the tax incentive to buy local. Simple as that.

If the the capital gains inclusion rate goes up, then I’ll decrease my trade frequency, which hurts my broker (one of the Big 6, who probably won’t be happy), and possibly reconsider the residence of my wealth. My income was taxed before I invested it and the growth was taxed before the companies distributed it. I’m all for paying a fair share but not twice and three times on the same money.

#138 Willy H on 09.12.17 at 9:27 pm

We wouldn’t even be talking about taxing the wealthy if only we had left the GST at 7%.

$14 billion per year in lost revenues.

https://beta.theglobeandmail.com/report-on-business/economy/canada-lost-when-ottawa-cut-the-gst/article10271589/?ref=http://www.theglobeandmail.com&

#139 Nonplused on 09.12.17 at 9:32 pm

#124 Pete

Don’t you worry Pete, they’ll pay their taxes! (Yay, go Tureau!) But they will also raise the price of almost everything you buy. They have no choice, they don’t have any money! All the money the dude running the 7-11 has comes from what he charges you for a Slurpee.

#140 Fran Deck Jr. on 09.12.17 at 9:36 pm

@ 116 Conan

“Scheer makes it sound like it’s a tax on average people, it is not.”

Exactly right, because only above average people are capable of growing a small business and finding a way to prosper in T2’s Canada. Only smart exceptional people start small businesses which we know generate most of the taxes paid in this over-taxed socialist country … civil servants do not create wealth Conan, small business owners are the ones who keep this country moving forward … Canada has too many civil servants who contribute nothing to society and it pleases me to see them kicked to the curb occasionally … Scheer will do to Zoolander what Trump did to Crooked Hillary because most Canadians recognize the value of over-achievers and they abhore the cultural marxist values which define this current government.

#141 Trojan House on 09.12.17 at 9:36 pm

Let’s face it, no matter how you look at it, the way taxation is implemented will never be fair. There are a lot of whiners that comment on this blog that are either people who whine that others don’t pay enough tax or people on the other side who whine that they pay too much tax. It’s funny to hear the arguments on either side. Most people end up sounding so childish, throwing temper tantrums or acting like cry babies. Or they end up throwing insults at each other. Human nature – it really is amazing.

Going by the credentials on this blog (previous blog survey) I don’t think any of us, to be honest, not even Garth, are smart enough to understand how anything works. I know I’m not. Although some of you sound like know-it-alls. If politicians were smart enough, we probably wouldn’t have any problems. Most politicians are everyday people like you and me – especially JT who led a pretty ordinary life before going into politics.

They say only 3 things in life are certain – life, death and taxes. Question is, how did taxes make it into there? They also say that you learn from your mistakes. And what are mistakes? To me it is history. If I do something today that is wrong, will I repeat it tomorrow? No because I have that previous history. History is full human mistakes. What is WWI or WWII? Did we learn anything from those two wars other than humans are good at killing each other? No. If we did then there would be no more wars.

So what does history teach me about taxation? Based on the history of modern civilization and what I’ve seen in my own lifetime, is that it doesn’t work. To come full circle, it will never work or ever be “fair.” What then is the answer? If I were smart enough, I would tell you. But I’m not. And neither is anyone else including the politicians who keep implementing these ideas thinking they will fix all the problems we have in society.

#142 pay your taxes on 09.12.17 at 9:41 pm

What’s the marginal utility of that extra few grand per year in the pockets of the wealthy compared to the empty coffers of our photogenic boy wonder? Rest assured, your additional contributions will be put to good use: trans rights, gender balanced everything, and creating a utopia for lazy sods like me who only do the minimum and just get by in life. Thanks guys (and gals) keep up the hard work, I need that GIS supplement on my OAS

#143 leebow on 09.12.17 at 9:46 pm

Seems, some folks here already have a pretty good idea how they will spend the extra money and are even willing to help with the expropriation. Bolshevik commissars.

Only they should remember that the outcome will be highly non-linear, asymmetric, and impossible to predict. Not clear who will come out the winner, but they have more to lose than to gain.

Under capitalism, man oppresses man. But under socialism, it’s the other way around.

#144 ANON on 09.12.17 at 9:52 pm

So, this is war.

This is diminishing returns. This is debt saturation, so, no more promises, no more money. This is also when money is either “lost” or “stolen” (depending on the narrative) except it will never be found or recovered, because it was not there to begin with.
On top of that, everyone will be screaming for someone to do something about money, not realizing it is all of us who promise money into existence, and if someone puts bits into accounts or prints pretty IOUs, they will be worth less than the magnetic field (not plate) they sit upon, or the paper they are printed on. The comment section is on fire though, corn is popping in the pan daily.

#145 -=jwk=- on 09.12.17 at 9:56 pm

@ #89. I read your 4 articles. three quoted the same non-peer reviewed paper that is the only one of it’s kind. I believe you call that ‘alternative facts. The 4th (3rd in your list) is about increased automation in fast food – something that is happening anyway….so back to you: any proof anywhere the the Seattle min wage increases have hurt min wage workers or the economy? No? Didn’t think so…

#146 democracy is mob rule on 09.12.17 at 9:58 pm

Soon Canada will be a workers’ paradise like Venezuela.

#147 Fran Deck Jr. on 09.12.17 at 9:58 pm

@ 124 Pete

“all these greedy cry-baby small business people have avoided paying taxes for years … complain all you want. It’s coming”

I’ll tell you what’s coming Pete, the 2019 federal election … everyone from angry farmers, dentists and unemployed womens studies graduates will be lining up to vote Zoolander and his cabinet of SJW’s out of office!

#148 millmech on 09.12.17 at 10:01 pm

#60 Tim
I wonder why half the population is making below $27000/yr?
There is every opportunity for any person in Canada to excel and exceed beyond their wildest dreams, yet so many do not. You should be asking yourself why half our population accepts a life of poverty when there is so much more out there. I believe poverty is a choice and half our country chooses it.
So why should I subsidize a person who makes poor decisions?
People on this blog talk of 300,000+ immigrants a year coming to Canada hoping for a better life and to be more successful here than their previous home.
Do you think these immigrants come here with visions of $27,000/yr in their eyes? F^&k no they are some of the hardest working people I know and when they are not working they are improving themselves through night school and weekend upgrading courses. They have something that we are missing which is a work ethic, nothing comes for free, you do not take anything from anyone else, and have pride in whatever you do.
I hope we take in more immigrants because what we have in our Country now is pretty pathetic and hopefully they can bring a better change to Canada.

#149 Stan on 09.12.17 at 10:02 pm

If T2 wants some extra income tax revenue he should go after all the people that rent out condos and houses and don’t claim that as income. And province find the ones that claim that the rental property is their principle residence so that they can collect the home owner’s grant.

#150 Bob on 09.12.17 at 10:02 pm

Garth,

Right on with your analysis….

…this country went over the cliff awhile ago, now it’s just a matter of how hard we collectively hit bottom.

Sad to see what’s going on across this country.

#151 TurnerNation on 09.12.17 at 10:03 pm

Checking the comments…in the ‘good ole days’, post WW2 and “liberation” my Dad fled real tyranny (Commies). Whereas, people “fleeing” USA – with its food stamps and Section 8 housing benefits, democracy and fair trials, are not. Take a number, get in line. He did.

Either one buys the narrative that our grandparents fought for our rights and flag and borders, laws, or not. It’s not my fight.

When we honest folks try and cross the US border we get the white (latex) glove treatment.

#152 democracy is mob rule on 09.12.17 at 10:06 pm

Three kids went to the playground. One of them brought a bike. The others didn’t have one and were jealous. They took the bike for themselves. The kid who brought the bike complained, “That’s my bike”. The other two kids said, “No it’s not. We formed a democracy and voted to tax you to help the poor”.

#153 mortgageman on 09.12.17 at 10:12 pm

To all the T2 lovers on this blog. Not many of you are business owners. Here is what you should know. You can talk a big game on this blog and support Justin. However , most business owners are real leaders in their communities. Watch all the political fundraising dry up for the Liberals and massive fundraising for the Conservatives. Justin will be getting a real run for his money for the next election. He just turned on his financial supporters. His backbenchers have been hearing it from their donors that if he actually pulls off this crap, they will join the conservatives. He is not going to pull this off

#154 Built to Spec on 09.12.17 at 10:13 pm

Garth, thanks for another great, but sad, article.

As I see it none of what you describe comes as a surprise. The federal Liberals, B.C govt., most Canadian politicians etc. are socialist – and this is what socialists always ultimately or eventually do. They bring ever bigger and more intrusive government, ever increasing taxes, and ever diminishing personal liberties. They may not say it in their campaign rhetoric, and don’t do everything all at once for political reasons, but as soon as it becomes poltically tenable to move further along the big govt/high tax continuum – they make their move.

If I may digress slightly – in the U.S I believe the exact same thing has been happening. The Democrat party is now far left and if they won would have, in my view, brought the country ruinously and irrevocably to the left. For that reason it was vitally important to many freedom minded people that the Republicans, ANY Republican, win. I’ve been surprised that you didn’t see it that way, considering how insightful and clear thinking you are in our parallel political situation in Canada and in real estate and everything else (NOT pandering, really just genuinely surprised)

#155 Mario on 09.12.17 at 10:13 pm

How would Capital dividend accounts be treated?

#156 Deaner on 09.12.17 at 10:15 pm

Screwed Canadian Millenial on 09.12.17 at 7:11 pm

Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?

https://fred.stlouisfed.org/series/SEAT653NA

https://fred.stlouisfed.org/series/SMU53426607072200001SA

——————————————-

Minimum wage increase, or Amazon HQ ….. what is more likely to be the contributing factor

#157 Johnny D on 09.12.17 at 10:19 pm

I said it yesterday, and I’ll say it again; scarier than these federal Libs is the federal NDP wannabes. Niki Ashton’s platform alone is just shy of turning Canada into Venezuela in one swoop.

#158 Pete on 09.12.17 at 10:20 pm

146 Fran Deck Jr. on 09.12.17 at 9:58 pm
@ 124 Pete

“all these greedy cry-baby small business people have avoided paying taxes for years … complain all you want. It’s coming”

I’ll tell you what’s coming Pete, the 2019 federal election … everyone from angry farmers, dentists and unemployed womens studies graduates will be lining up to vote Zoolander and his cabinet ofSJW’s out of office.

Please . First of all no government who gets into power will change it. Second there more angry poor people then people with cash. You will pay your fair share or get put of Canada you theif

#159 Paul on 09.12.17 at 10:21 pm

For all of you think the new minimum wage won’t cost jobs.
One instance a restaurant I just sold with the new buyer to assume all of the current employees which is appoxemently 55. Now Needs to be cut by a minimum of 12 to close the deal. Great just f,en great.

#160 Buford Wilson on 09.12.17 at 10:26 pm

Maybe the government will make enough profit from pushing pot to lower the income tax rates

#161 DON on 09.12.17 at 10:31 pm

Yah yesterday’s Doc was a little over the top. My sis is a RN, the type that also required a science degree, math, physics etc. She has seen her share of Docs prescribing the wrong doses etc. Calls them out on it but it is not considered polite to do so!

I have pleaded with her to go to Med school, only so I can finally get a family doctor.

Seriously, there are good and bad people in every profession. The argument is about fair share of taxes and bad eggs using loopholes.

No tax is a good tax.

I do not wish more taxes on anyone and would rather we concentrate our efforts on reforming our current poli/gov systems to ensure our current tax dollars are spent wisely.

By allowing the system to divide and conquer us (while we take positions against on another) is even more ludicrous. Collaboration.

NOW back to our regular programming…Someone cue Happy Housing Crash.

@Turner Nation – Bad form man!

#162 Mike Matheson on 09.12.17 at 10:34 pm

Hey Lesser fool , get your facts straight dude . I know a thing or two about police and fire pensions . It’s nowhere near 80% of their wage. Secondly, they contribute very heavily into that pension for a great many years , to hopefully survive with health and sanity intact . Every one of those men and women EARNED that pension .

#163 Pete on 09.12.17 at 10:34 pm

When it comes to minium wage increase to $14 and then $15 , small business has a legitimate concern and I agree its to fast to soon. Should be phased in over a few years. Tax loops holes are a joke and not justifiable at all.

#164 DON on 09.12.17 at 10:39 pm

Oh yah!

Where are the rates will never rise and real estate will rise forever folks. You were convinced you were right and that the bears were stupid. Come out come out wherever you are.

Something is in the air! The herd has been startled. Rates hikes were like gun shots.

#165 Fuzzy Camel on 09.12.17 at 10:41 pm

These tax changes, stupid move by the T2 feminist regime. Watch the underground economy take off. Cash deals will be more popular than ever.

I thought I’d never see the day when I would have a dental office accepting cash deals, it’s gonna be popular.

Feminist logic is a really scary thing. Instead of lowering or granting employees similar tax breaks, they punish everyone with an equally unfair tax.

Next year it will be slow. Tax revenues will decline, cash deals all the way.

#166 Royal City Dweller on 09.12.17 at 10:45 pm

#119 Linda on 09.12.17 at 8:37 pm

So what comes after they’ve driven ‘the rich’ out? Or beggared them to the point where they become ‘the poor’? The obvious answer is to flee the country but the question is whether one can transfer financial assets w/o penalty? I’m presuming there are penalties or restrictions? It seems the term ‘golden handcuffs’ may apply.

+++++++++++++++++++
What comes then?
Ever been to Cuba, Linda?
Everyone will have nothing! (Except the few “pigs” on the helm)
And – finally – that will be FAIR.
It’s all about fairness. Lol.

#167 Algonquin Settler on 09.12.17 at 11:03 pm

I am not a doctor, nor married to one. I do not have a small business, but have in the past.

This tax change is crap. Pure and simple.

It’s not the tax, it’s the SPEND. It’s the WASTE.

Trudeau and Morneau, the trust twins, need to be the recipients of many volumes of Atlas Shrugged at their place of business. And it IS a business, not government for the people. All they do is enrich themselves at our expense.

I’m happy to say that my blue collar husband has worked only about 16 hours of overtime this YEAR. Previous years he worked 20 hours of overtime per WEEK. Tax paid this year….far less. Conscious decision.

#168 A box in the sky on 09.12.17 at 11:05 pm

The nurse bashing that has gone on the last two days is way out of line.

Yeah I’m calling Garth out on this as well for publishing Maxims comments – guy is a massive douche canoe

#169 SWL1976 on 09.12.17 at 11:08 pm

I’m blown away how so many people here feel that more taxes are the ultimate answer to an unjust system.

I guess simple minds just can’t comprehend the long term ramifications involved with these taxes. Taxes which essentially take the wind from the sails of small business and free enterprise.

All this anger should be directed towards government and trust fund babies such as the two implementing these taxes. Both of which most likely have off shore accounts to avoid taxation, or at least personally know people who do.

I guess the easy answer is what we are getting here, and that is what most people crave today. The real answer is far too complex for most to understand. Hint hint, it starts with deconstructing all the lies you have been fed.

Justin is not here to save us, au contraire, he is just another cog in the wheel who has sold his soul for a seat at the globalist table. His replacement once he is voted out will most likely follow the same path.

Until we reach a critical mass of critical thinking I fear we are simply bound for more of the same.

It’s simply a race to the bottom

Can you tell who’s winning???

#170 Mark on 09.12.17 at 11:12 pm

“The federal liberals are pushing ahead with a campaign to portray legitimate portions of the tax code, in place for decades, as loopholes which cheat the system. The masses cheer. So there will be more.”

I’m kinda sick discussing this topic (but its Garth’s blog), but I’d just point out that income sprinkling is, even under the current rules, not allowed. Nor is under-paying one-self as a labourer to a corporation, to accumulate excessive retained earnings in a corporation. The CRA already has the tools, through the tax rules and law relating to related party transactions, to deny such arrangements.

So in reality, what the Liberals are proposing to do is nothing different than is *already* on the books. They’re just putting some teeth into the existing rules and actually making them enforceable, so that small business owners won’t get away with behavior that would not be acceptable in any other application of tax law, whether to an individual taxpayer, or to a large corporate taxpayer.

I don’t support T2, and I say this as an observer who wonders why the small business owners have been whipped into such a frenzy. If husband and wife, children and close relatives, contribute to a business, its not unreasonable to accrue to them fair market value for their contributions. But to have shams such as non-working spouses getting half of the proceeds of a professional dental or medical practice, or the notorious cases of “$100k/year secretaries” makes a mockery out of Canadian tax law and its rules regarding dealing with related entities.

In a way, its a lot like DACA in the USA — the Tories tolerated related entity abuse at the CRA amongst their small business buddies when they were in office, but such previous precedent is not binding on the current administration. Much like DACA, an Obama-era policy, was found to be a policy contrary to law by Trump, and has thus been rescinded. The CRA should have never tolerated income sprinkling or excess earnings retention caused by small business owners under-paying themselves. But now the piper need be paid.

#171 democracy is mob rule on 09.12.17 at 11:15 pm

Tax the rich, feed the poor
Till there are no rich no more?…

Artist: Ten Years After
Album: A Space in Time
Released: 1971

#172 T-Rev on 09.12.17 at 11:19 pm

Not sure where it all ends, Gartho…there’s some tectonic forces at play in the world today that are as old as time, and the pressure is mounting. A nationalist resurgence in Europe, Russia, and America…Kimmy and his nukes…a devolution of our western societies like Canada and the US from a place where equality was the goal even if we hadn’t achieved it yet, to a place where tribalism and identity politics are encouraged and used as tools of manipulation. Then you’ve got automation, which is what got me going on this rant…it’s pretty classic Marxist stuff. The means of production, particularly capital and land, get more and more concentrated. The rich are getting richer, and needing fewer workers as robots take over. At some point, you either pacify the populace with a living wage that allows them to feed and house themselves and pays for their smartphone, internet, and streaming services so that they can self medicate with social media and pornhub, or you face a backlash that varies from political upheaval in the civilized democracies of the world, to violent overthrow where democracy doesn’t provide a peaceful outlet. Either way, this trend towards socialism isn’t going away until the party stops and there’s no one left to scapegoat and the country is bankrupt. Or maybe technology will save us all and we’ll finally have jet packs and robot maids, I dunno.

#173 Ken From BC on 09.12.17 at 11:21 pm

#60 Bleeding Heart Tim

I make $250k per year. At 54% tax rate, I pay $135k in taxes. The TAX is equivalent to the gross earnings of 5 individuals that you state make $27k per year. Could you suggest how many more individuals you believe I should support? I suppose that if I paid 89% in tax then I would net $27.5k and support about 9 individuals. However, I would still be $500 ahead of the others. Doesn’t really seem fair. Maybe I should donate that $500 to the Liberal party to even things out. Sound reasonable?

#174 democracy is mob rule on 09.12.17 at 11:22 pm

#165 Royal City Dweller

Ever been to Cuba, Linda?
Everyone will have nothing!

————————————————————————–

Fidel Castro had an estimated net worth of $900 million. In communism everyone is equal. However, some are more equal than others.

#175 Smoking Man on 09.12.17 at 11:23 pm

DELETED

#176 Spock on 09.12.17 at 11:24 pm

The comments over the last few days are a classic example of what happens when divisive politics succeeds.

T2 I must say is a master of divisive politics and has honed the art of fleecing the sheep under the watch of T1.

One good outcome that may come out of all of this is that business owners (myself included) will reevaluate their priorities and spend more time with their families and loved ones instead of working long hours to make the business successful.

Once T2 has got all he can from the business people (he may in reality end up with lesser money because business owners do adapt), he will go after the same folks who are elated that business owners will get screwed.

In the end these clowns are going to dig a hole so deep that future generations including our very own screwed Canadian millennial are not going to know what’s going to hit them.

#177 Spock on 09.12.17 at 11:30 pm

#162 Pete

What is the point of phasing in the minimum wage when the provincial elections in ON are around the corner.

Wynn needs to buy the votes before the election, not after.

——————–
#162 Pete on 09.12.17 at 10:34 pm

When it comes to minium wage increase to $14 and then $15 , small business has a legitimate concern and I agree its to fast to soon. Should be phased in over a few years. Tax loops holes are a joke and not justifiable at all.

#178 Smoking Man on 09.12.17 at 11:40 pm

Got two payments of 675.00 back tax due on the 15th. Ha. CRA I’m a drunk with a gambling addiction. Working on Globalist RBC Capital Markets trade floor as a go to guy when shit happens. Well, I’m mental now. Don’t matter that they all wear pink shirts now, I Got it on video.

Contact my trusty.

RBC my Attorney suffers from short man Syndrom. You know like you prick, but I can’t control him.

#179 Cherry Picker on 09.12.17 at 11:41 pm

Nothing good happened to employees while conservatives were in power. The wealth disparity grew, and the “working poor” became a thing as the middle class shrunk. As someone once said about housing, this would not end well. Conservative had there time and life got worse for the majority. A minority did really well. T2s plans are response to dissatisfaction by the majority. Personally, I prefer a wealth tax to raises in income tax or corporate tax, but that just gets me called a socialist, so you get the current T2 plans, not that 99% of us couldn’t see it coming. Ain’t democracy beautiful.

#180 J DSouza on 09.12.17 at 11:49 pm

So here’s one small, true example from my immediate family that speaks to some of the benefits small business owners enjoy:

My brother owns a successful franchise. My sister-in-law helps him out now and then. Their kids go to private school, their quality of life is way superior to mine.

I am a salaried employee, with rather pitiful health benefits, no pension and no job security. I’ve been laid off once; my wife who works in advertising has been laid off several times whenever the economy tanked – client budget cuts. Our kids go to public school. Private is out of the question.

My parents who migrated to Canada after they retired cannot afford to live independently. They live part of the year with my brother and part of the year with me. This is tough on everyone, but I certainly can’t afford to pay for their expenses to live independently. My brother would never pick up the entire tab, and I don’t expect him to, even if he can afford it.

But get this, my brother’s earnings from the franchise are structured to be so low that he has never wanted to claim the caregiver allowance for our parents!

This is great for me as I get to claim them both, instead of splitting with my brother. But that’s the extent to which a business owner can legally avoid taxes.

About time more people paid their fare share.

#181 NoName on 09.12.17 at 11:49 pm

#130 No Logic on 09.12.17 at 9:08 pm

That what you described about free market and letting in qualified people, is coming sooner than you think. over 90% of Eu – Canada free trade agreement starts Sep 21.

schooling
—-
How will mutual recognition of qualifications work?
CETA provides a framework for the EU and Canada to recognise each other’s qualifications in regulated professions such as architects, accountants and engineers.

Professional organisations in the EU and Canada will be able to jointly work out the details for recognising each other’s qualifications.

The authorities in the EU and Canada will then approve their work and make it law.

work
—–
Will it be easier for EU citizens to work in Canada?
Yes, in some cases.

CETA will make it easier for company staff and other professionals to work on the other side of the Atlantic, and for firms to move staff temporarily between the EU and Canada.

This will help European companies run their operations in Canada.

It will be also easier for other EU professionals to temporarily supply legal, accounting, architectural or similar services.

#182 Smoking Man on 09.12.17 at 11:53 pm

James, I found the grave. Been on this savage road trip for 12 days. Just because I Post from another town dont mean I’m kicking the shit from my bucket list. New Orleans Tomorow.

Cat fish on the menu.

https://www.youtube.com/watch?v=a6yCEsDsGx4

#183 cd on 09.13.17 at 12:09 am

Just wondering about the $15 minimum wage…

would a better solution be to keep the min. wage the same and reduce their taxes instead? Min. wage earners would then see an increase in their net incomes and there isn’t an increase in the cost of everything in the short term.

#184 DON on 09.13.17 at 12:17 am

Good read. 83K left London this year for other areas which are becoming more affordable. Hmm! I thought the UK was rocking. The outer areas are once high priced are becoming more affordable. Say it ain’t so. Joe

https://www.theguardian.com/business/2017/sep/13/house-prices-uk-housing-affordability-london-birmingham-glasgow-leeds

#185 Greater Fool on 09.13.17 at 12:23 am

If I continue working I won’t be able to buy a house, my only hope is that my Bitcoins make me a million dollars next year so my family can move out of this dark basement that is destroying my soul.

#186 Smoking Man on 09.13.17 at 12:47 am

Brenda who calls their kid Brenda A black chick in Mississippi

https://www.youtube.com/watch?v=1WfD7nEoAWM

#187 Canadian Dumbass on 09.13.17 at 12:48 am

We are all dumbasses in Canada just for living here and for putting up with the tax system. Poodeau 1 screwed this country and Poodeau 2 finishes it off.

#188 wandakung on 09.13.17 at 1:36 am

Ok Garth here’s the solution…..do a sale and leaseback of Canada to the Chinese….say 99 year lease like Hong Kong…put in low 3 % taxes already covered in the sales price and watch the economy take off….

#189 Karma on 09.13.17 at 2:38 am

#70 Screwed Canadian Millenial on 09.12.17 at 7:11 pm
“Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?”

Job growth in the charts you are showing are more or less tracking population growth (3.1% pop growth y/y in Seattle, and 1.8% for CMA). So in that context, it’s not that impressive. Nevertheless, Seattle is not like most cities. Let’s not forget that two of the top four companies (and top two richest people) in the world are based in Seattle, among many other high paying jobs. Median incomes are over $80,000 in the city. When Amazon announced it wants to build a 2nd HQ, it’s no wonder that every decent city in North America wants to be on that list, because avg wages will be $100k or so.

In other words, what happened in Seattle regarding the rising minimum wage will likely not be replicated elsewhere easily. It’s no surprising that the Ontario Financial Accountability Office estimates ~50,000 in lost jobs due to higher minimum wages. But that’s not in your ideology to read about potential negatives, but rather just to shovel poop on the “other side”, in this case you say it’s the “Conservatives”. Perhaps you shouldn’t pick sides or call people labels.

http://www.seattletimes.com/seattle-news/data/seattle-once-again-nations-fastest-growing-big-city-population-exceeds-700000/

http://www.cbc.ca/news/business/ontario-minimum-wage-jobs-1.4285443

http://www.seattletimes.com/seattle-news/data/80000-median-wage-income-gain-in-seattle-far-outpaces-other-cities/

#190 Karma on 09.13.17 at 2:46 am

#70 Screwed Canadian Millenial on 09.12.17 at 7:11 pm
“Not one conservative will be able to show me all those Seattle job losses that the corporate shills promised me. Let that sink in. So they have to admit that “$15/hour will kill jobs ” was just a lie. Will they admit it?”

In this link you posted (http://www.seattletimes.com/opinion/uw-minimum-wage-study-doesnt-reflect-reality-of-work-in-seattle/) it quotes:

“At 2.5 percent unemployment, Seattle is very near full employment. ” and “‘I’d give my right pinkie up for an awesome dishwasher.” Earlier this year, Jimmy John’s advertised for delivery drivers at $20 per hour.”

These show that $15 minimum wage isn’t even a relevant because the equilibrium unskilled wage is obviously higher than $15 per hour. Read this, specifically 10.9:
https://catalog.flatworldknowledge.com/bookhub/reader/2992?e=coopermicro-ch10_s02

#191 Karma on 09.13.17 at 2:55 am

#67 Screwed Canadian Millenial on 09.12.17 at 7:05 pm

“Half of Canadians making under $30,000 per year but conservatives think the outrage is minimum wage workers not being poor enough.”

Umm….. Pay attention to household income, not individuals. 2015 Median household income: $80,940.

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil108a-eng.htm

#192 Dolce Vita on 09.13.17 at 3:48 am

I’d worry more about the $CDN and minimum wage right now.

CDN $ in the last 4 months a 12% gain vs. USD (1.375 down to 1.211).

Add to that minimum wages going up by 23%.

So, for every US $1 taken in, Revenue falls by 12% to maintain a US $ price and wages will increase by 23%. To make up those losses in Revenue and Cost is not easily done.

Quick fix is typically to offset with employee lay-offs, usually the largest component of Direct Costs. A price increase perhaps, usually unlikely in today’s price competitive markets.

Trump will not have to do much for Buy America and repatriating jobs.

As long as Canada allows its $ and minimum wages to rise, it will make US products more competitive without their having to lift a finger.

End result:

Job losses, sooner than later.

#193 Dolce Vita on 09.13.17 at 4:01 am

Off topic, but I just took my AM gander at RE markets and the Toronto data from toronto.listing.ca for the Detached home market was an eye opener.

Almost half way thru September:

Unit Sales = 43

Double, triple that and still, you cannot find a number that low since 2007, at least.

Average Sold Price = $835,000

You have to go back to Jan. 2016 or earlier to find an average price that low ($787,000 Jan. 2016).

Those are grim numbers to me.
__________________________________

Cannot believe the YVR RE new luxury Condo craze. Only people that will make money off of that are those that sell the property before taking possession to someone else – a pyramid scheme. Late adopters likely to get holding the bag.

Late adopters will have to sell into the resale Condo market in YVR which is grim to say the least, so good like trying to sell for a profit.

I do not see it ending well with current debt levels, interest rates set to rise even more, OSFI B-20 likely to eliminate many and previously qualified buyers and our $ increasing by 12% in 4 months making foreign investment less attractive.

Oh well, all the more power to them.

#194 Oft deleted much maligned stock.picker on 09.13.17 at 4:06 am

Lumpia…..I feel for you. You’re just doing what hundreds of thousands of Canadian professionals have already done…..getting out. And no….you do not have to give up your citizenship….only that which ties you to tax status…..residency. For those who don’t know…..every flight south to American business center that are hiring like crazy…..Dallas TX….for ex……is jammed with Ex Canadian professionals.

With all the people slamming Lumpia who put in 12 years…..what I don’t hear is anyone upset that Trudeau Liberals have expanded on the foreign national ten year Visa which allows a breadwinner to bring his family to Canada….enjoy all the free education, health and infrastructure offered….and yet pay no income tax on global income like a Canadian would…..yet this foreigners can transfer any amount of money to a family member to buy real real estate tax free and that member enjoys the principal residence status and zero taxation….while collecting social benefits. Richmond BC is a prime example of this…..even the Mayor has publicly complained that person’s in multi-million dollar homes and two Mercededes in the drive are collecting full social benefits while paying no taxes. Three million foreigners have taken advantage of the 10 year Visa with 60% coming from the People’s Republic of China. Official stats here…..don’t start calling me names.

I’m with Lumpia on this…. I recommend all new grads to leave immediately to where the jobs are plentiful….and stop even dreaming that Canada can be a better place with 100% taxation. Only people who are to lazy too work and too steal vote Liberal and NDP.

When your class war is forcing your kids to suffer so civil servants can sun themselves in Cuba…..let me hear you complain about free Enterprise then

#195 under the radar on 09.13.17 at 5:56 am

Fairness? really. civil servants protected by unions who have indexed pension plans for life. Cops retiring at 50 with a pension for life. Really , small business owner , no sick days, no indexed pension, no medical or dental , oh but they have money in their corporation, better get that to make it fair. This will end badly for T2 and his crew.

#196 Dharma Bum on 09.13.17 at 6:42 am

Everybody just needs to learn how to live really well, on less.
It’s doable.
Follow the Guru.
Screw the government.
Drink the Kool-Aid!
http://www.mrmoneymustache.com

#197 HeHe on 09.13.17 at 6:49 am

MLS Toronto Visualization and GTA dataset
This site has shut down due to the following letter from TREB:
http://www.shafquatarefeen.com/mls

————————

Thanks for the link.
The MLS guys are stupid enough to miss the actual data which is still posted on line :-)

Many thanks to the Shafquat for making that public.

#198 Dharma Bum on 09.13.17 at 6:55 am

#170 democracy is mob rule on 09.12.17 at 11:15 pm

“Tax the rich, feed the poor
‘Till there are no rich no more”
—————————————————————-
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you

Life is funny (bees make honey).

#199 Love this Blog on 09.13.17 at 8:05 am

Keep up the good work Garth . The way you compile information and present it is very helpful.

It seems there is a concerted trolling effort on this Blog now . We still appreciate what you do

#200 BillyBob on 09.13.17 at 8:10 am

Hmm. I get the sense Screwed Millennial is a bit, well, simple. Perhaps it’s just the persona he’s chosen to cultivate for the comments, but it’s certainly effective at giving that perception.

The fact that cranking up the minimum wage hasn’t caused job losses only “proves” you can camouflage shitty economic policy in boom times, in a city that includes Amazon, Microsoft, Bezos, and Gates.

How conclusive.

Honestly, if this is what passes for rigorous intellect in Millennial-land, no wonder they’re all broke.

#201 Ezzy on 09.13.17 at 8:25 am

#67 – I have friends whose household income is roughly 200,000 CDN, yet one of the two doesn’t even make a quarter of that. ‘household’ income is an aggregated amount, which includes everyone in the household. That’s misleading.

#202 HaHaHa on 09.13.17 at 8:29 am

Fairness do not worry Liberals were and are targeting civil servants. Remember BILL c-27 pension reform. Oh yeah probably not. Introduced by one Bill Morneau of Morneau-Sheppell fame. Also the finance minister. Well it was frozen till further consultations. Who better to handle the new Target Benefit Pension plan than his daddy’s company. You see Libtards. Tax these guys fleece the rest. Your turn is coming. And Harper was evil? Canadians are stoooopid.

#203 TurnerNation on 09.13.17 at 8:45 am

As always the majority remains silent.
I love new facts and changing my mind and opinion.
None presented here so far.

Life *can* be fun. ..try it guys.

Now back to trading…capitalism is the purest form of reality.

#204 TJM on 09.13.17 at 8:47 am

I would be happy to wade into this discussion if there were an agreement on all sides to stop conflating marginal with average tax rates. Most people don’t know basic math, and “The government is going to tax you at 52%” makes it sound like if you make $100k, you only get to keep $48k of it. And that’s misleading and inflammatory.

#205 Pete on 09.13.17 at 8:47 am

#164 Fuzzy Camel on 09.12.17 at 10:41 pm
These tax changes, stupid move by the T2 feminist regime. Watch the underground economy take off. Cash deals will be more popular than ever.

I thought I’d never see the day when I would have a dental office accepting cash deals, it’s gonna be popular.

I know dentists who already accepting cash deals on top of the tax loop holes. Greedy dentists and other criminal small business cheats need to pay their fair share. You have been exposed as the monsters you are. Only Doctors should not be included in this groups of liars and cheats. Time to pay your fair Share or shut down and leave Canada. We all know that won’t happen. The cry baby snow flakes making to much money.

#206 IHCTD9 on 09.13.17 at 8:47 am

#3 NoOneOfConsequence on 09.12.17 at 5:05 pm

Nice to see the little guy finally get his.

______________________

His what?

His layoff notice?

I used a robot cashier for the first time ever in my life (WalMart) a month or two ago. It worked flawlessly, it was easy, quick, convenient, I was pleasantly surprised. My kids dragged me over to the line of “cool machines”.

A little Googling reveals a self-serve Kiosk like the one I used runs about $10,540.00 and is typically financed at $300.00/month for 3 years.

Yep, you’re a real champion for the poor lol!

#207 maxx on 09.13.17 at 8:53 am

#37 MD on 09.12.17 at 6:18 pm

“We don’t have a tax problem in Canada, we have a spending problem.”

On so many levels. With that arrives the usual budgetary fiddling and rearranging of fiscal deck chairs, both governmental and personal.

Much of this tax increase is for the reason you’ve just outlined, but it’s also a vain gambit to quell the increasing tide of middle class dissatisfaction, frustration and outright anger.

What’s lost on many is that it will make saving and aiming for financial independence far more difficult, if not impossible – for most everyone. Between increased taxes, debt levels, robojobs and good job losses, we will see enormous change to the negative in the short to medium term. Those with debt (mostly middle class) will be worst off and be mourning what they could have saved and/or what they could have done with that re overspend.

Strong business will adapt fairly easily through automation, creative cost cutting or moving offshore. Smaller ones with overhead, not so much.

Get ready for more ghost malls.

#208 Q2 Class Duplex Drive on 09.13.17 at 8:57 am

Hey Garth –

I bet Stephen Harper looks pretty good nowadays.

The politics of envy – perfected by the Liberals. This country is going down!

#209 IHCTD9 on 09.13.17 at 8:57 am

#5 Robots R Us on 09.12.17 at 5:11 pm

Moreover, the bulk of minimum-wage employees work in domestic industries. Our domestic economy is toast anyway, so we might as well lift those minimum wages. Bring it on -:)
____

All true. We probably won’t hear many complaints from businesses who already plan to buy robots and lay off workers.

In fact, the new 15.00/hr Ontario minimum wage – announced way ahead of its implementation – actually gives businesses the ability to strategize.

I expect the machines are already on order, and just before delivery, prices will be raised, layoffs will commence, and both events will be blamed on the new min wage increase. Prices go up, costs go down – simultaneously. All possible because Wynne needed to throw this carrot out before election time.

#210 Andrewt on 09.13.17 at 8:58 am

I’m inclined to support the tax changes, but I will say there have been some compelling arguments as to why it is unwise.
There’s also been a lot of kvetching that sounds exactly like the kind that those same folks mock the “entitled, lazy whiners” for when the shoe was on the other foot.

We’ll see how it plays out.
I’m pretty agnostic about JT, but the folks that think he’s the end of us all were also convinced he would have run our economy into the gutter by now, and yet we’re doing quite well overall, go figure.

#211 IHCTD9 on 09.13.17 at 9:04 am

#9 mike on 09.12.17 at 5:25 pm

France passed a tax 2 years ago under the same guise – that the “rich” could afford to pay more. The French gov’t demanded a whopping 90% on anyone earning $1M/year or more. All those professionals and business owners who got stung quietly sold their physical assets and moved elsewhere. Atlas shrugged
_____

I remember, France lead the world for a while for millionaires bailing out of the country; and by a huge margin.

Doesn’t seem to bloody smart, a monkey could have threaded together the cause and effect on that one beforehand.

Say, do we have any French Politicians here…?

#212 Manitoba Whale on 09.13.17 at 9:17 am

#178 Cherry Picker on 09.12.17 at 11:41 pm
Nothing good happened to employees while conservatives were in power. The wealth disparity grew, and the “working poor” became a thing as the middle class shrunk. As someone once said about housing, this would not end well. Conservative had there time and life got worse for the majority.
*****
Not a Harper groupie, but like your name, cherry pick much? I think that Harper, with pressure from the opposition navigated a World Recession quite well, and yet you blame Harper alone for the loss of the middle class? What about Chrétien? Mulroney? T1?

#213 Counterpoint on 09.13.17 at 9:24 am

#179 J DSouza

Newsflash: to allow you to save face, your brother is giving you a tax benefit he could use, and creating an inventive means to explain why (other than “you need it”). Get over your jealousy and show some gratitude. On the other hand, maybe he will see your posting, figure out that the thankless recipient is you, and suddenly have a change of heart/tax plan.

In any event, having more taxes on the horizon, he may change his attitude, resulting in more tax for you. A fitting end to your jealousy.

People seem to lose sight of the fact that all benefits taken by the owners from the corporation/franchise are fully taxable. If he is not paying tax, he either is not taking benefits or is a tax cheat, but that is not a result of the corporate tax structure as it currently stands. True cheats will cheat under any system.

If you are a tax cheat and not reporting income/benefits, the new system will not change that behaviour.

#214 Dissident on 09.13.17 at 9:25 am

Yes. It IS about time. #3 NoOneOfConsequence on 09.12.17 at 5:05 pm #crymeariver indeed.

As a salaried xennial employee (w/3 degrees to my name, and a perfect attendance record for 10+ years, thankyouverymuch), the last thing I want to hear are the VPs and President that I supported *whining* around the copier about having to file taxes for their imported, Filipino house maids/nannies. Imagine working with men who ALL have live-in servants.

Like, are we on a southern plantation in the deep south!? Is this the 1800s!? Can’t they clean up their own broken glass on the floor? (Answer: No. Their 13-yr-old son will break a glass on the floor, and since the housekeeper is not there that day, he will keep that glass on the floor because…”He didn’t know how to clean up broken glass, so he left it there.” WOW.

Just wow. Some bright, self-sufficient, teat-suckers these richy-rich ‘men’ are raising right there. …That’s what NOT sufficiently taxing these dufuses is doing. —
Its precisely fulfilling Smoking Man’s prophecy of “feminizing the men of this nation”, except its due to a lack of taxation. Who’d ‘ve thunk it? Can we say Darwin Award anyone?

#215 Dissident on 09.13.17 at 9:31 am

re #202 And “feminizing” is probably not the right word here. Because women know how to clean up broken glass. More like “emasulating”.

#216 Dissident on 09.13.17 at 9:32 am

*emasCulating.

#217 CJBob on 09.13.17 at 9:37 am

It’s amazing to me how black and white people see so many issues. Here’s my summary on the tax change. The U.S. favours lower taxes and worships entrepreneurs but doesn’t provide universal health care for all their citizen. In Europe there is a very strong social safety net but at the cost of a lack of incentive for some/many workers. In Canada we’re trying to walk the line between these extremes. Under Harper we were shifting more towards the U.S. model, under Trudeau we’re leaning back towards the European model. It’s neither that hard to understand, that surprising nor the end of the world as we know it.

On the minimum wage – companies have an incentive to maximize profits and eliminate any employee they can with automation if it is cheaper. This trend is clear and a higher minimum wage may increase how quickly this happens but the trend isn’t going to reverse under any circumstance.

The broader question we should be debating IMHO is how we are going to respond as a society as low skill jobs continue to disappear. What is the best way to take care of our most vulnerable fellow citizens without taxing the incentive out of the entrepreneurs? How do we strike this balance?

Now back to your regularly scheduled political extreme arguments.

#218 n1tro on 09.13.17 at 9:41 am

Where are people who were ragging on doctors a few days back? I’m remembering Mike and Joanne who claim to make +$200K family income but think it’s unfair that doctors get to sprinkle when they can’t. I hope what BC is doing is a wake up call. The government is coming for all of us. If you live in BC, enjoy paying your “fair” share of taxes.

#219 Dissident on 09.13.17 at 9:44 am

what a naive comment.

#26 Dennis on 09.12.17 at 6:01 pm
Better to be a ( fill in the blank) – teacher, fireman, cop, food inspector, etc

Clearly you’ve never been a teacher, fireman, cop, food inspector, or you wouldn’t be lauding these as ideal professions superior to a dentist. Just laughable. Of course the ROI is still there.

I know of a woman who put herself through university by being a stripper, and now she owns her own practice and a nice house uptown with her family. (You go girl!)

I doubt she would prefer to be running into burning buildings, or chasing after disobedient children. I know enough fire fighters and teachers to know, it ain’t glamorous, and there ain’t no ROI.

#220 n1tro on 09.13.17 at 9:47 am

#3 NoOneOfConsequence on 09.12.17 at 5:05 pm

Hey rich guys – go take some of your cash hoard and invest in automated cashier companies…diversify!

T2! T2! T2!
———————————
Hey poor guy, enjoy taking transit to a job where you make no difference and most likely be replaced. The rest of us rich (or getting there) guys will find new ways to avoid taxes while you keep paying at the full rate.

#221 IHCTD9 on 09.13.17 at 9:50 am

#21 Smartalox on 09.12.17 at 5:54 pm
As much as I disdain the griping about changes in the tax code by those that acknowledge profiting from advantages conferred by the current tax code, I am an avid supporter of tax avoidance and tax minimization strategies.

I am reporting for duty, ready to do my part in the war to pay less taxes.
_____________________

If you come up with any good ideas, post them.

I started last year. I don’t need to save the money, it’s about not supporting dumbass government which I am surrounded by. My strategy is based on modifying spending habits, maxing use of tax shelters, and a little trade and barter mixed in – all perfectly legal.

This year I’ve also cut my work hours about 12%, I have a couple projects on the go to attack my fossil fuel usage (I’m not a tree hugger, there’s huge taxation on conventional energy), and I am preparing even now for the expiry of the Wynne “debt for discount” hydro bill reduction where I expect rates to quickly rise to a level where I can do it for less.

I try to buy from the semi-local FNR, they have great prices on everything even before you consider the no tax perks. I am starting to consider a larger garden and some poultry since I already own the land, infrastructure, and equipment to do so already.

Somewhere down the line, I’ll start looking at how I might increase my income in a tax advantaged way. For now, modifying how I spend my money has saved me a ton of money, and has simultaneously been disastrous for government.

More to come, it’s becoming my new hobby :)

#222 Ole Doberman on 09.13.17 at 9:55 am

#133 Gregor Samsa on 09.12.17 at 9:19 pm

So let us compare. You can:

a) Work in private industry or be self employed. No pension, 3 weeks holidays if you’re lucky, stagnant wages, poor benefits, being constantly asked to do more with less, a competitive environment where performance matters, and ever increasing rates of taxation shrinking your take home pay.

Or, b) Work in government: full pension, full benefits, constant raises indexed to inflation, 3 weeks starting vacation rapidly advancing to 6 weeks, little to no accountability or requirement to perform, 35 hour work week for many (City of Calgary for example), and all kinds of extra leave: stress leave, sick leave, family leave, volunteer leave, dog walking leave…

You’d have to be pretty dumb to not be actively seeking out public sector employment in Canada.
——————————————————
This is spot on.

#223 Fran Deck Jr. on 09.13.17 at 10:00 am

@ 157 Pete

“there more angry poor people then people with cash. You will pay your fair share or get put of Canada you theif.”

Well Pete, I have a good idea why you’re an underachiever … unfortunately, the redistribution of wealth is not likely to improve your own quality of life under this current government. Work hard, get educated, pray often and vote conservative … that’s the real recipe for success.

#224 n1tro on 09.13.17 at 10:03 am

#28 AGuyInVancouver on 09.12.17 at 6:08 pm
#4 Lunpia on 09.12.17 at 5:11 pm
I am moving to Manila to open a dialysis centre and gyms. Farewell Canada, farewell Garth. Farewell JT and libs. 12 years here and I’m out. Time to live life in the friendly tropics.
_ _ _
I trust you’ll be renouncing your Canadian citizenship to make the break complete?
—————————————
Why should Lunpia renounce citizenship? Keep it to milk the benefits like everyone else. Getting something for nothing while others pay. Its the Canadian way.

Not sure just if this has changed since I was with Revenue Canada, but just make sure you come back to Canada once a year to retain your status. As for declaring global income, do what you feel is morally right since they can’t check unless they have an agreement with the surrogate country you are living in.

#225 fancy_pants on 09.13.17 at 10:10 am

socialism hard at work. relentless until everyone is broke. see you at the bottom of the barrel

#226 fancy_pants on 09.13.17 at 10:21 am

#168 SWL1976 on 09.12.17 at 11:08 pm
Justin is not here to save us, au contraire, he is just another cog in the wheel who has sold his soul for a seat at the globalist table

spot on. +1

#227 IHCTD9 on 09.13.17 at 10:23 am

#25 MF on 09.12.17 at 5:58 pm

I honestly think that these Liberals are driven by an ideology more than anything else.

_________________________________

Yep, sure isn’t experience, competency or smarts…

This is the government whose Minister of the Environment publicly stated that “Climate Change is Sexist”.

No ideology in that statement ^

#228 n1tro on 09.13.17 at 10:24 am

#41 Equality on 09.12.17 at 6:27 pm
I very much appreciate Liberal’s move on fair taxes.

In my circle, small business owners like real estate agents, taxi drivers, consultants have multiple expensive homes and cars. On top of that they get free education for their children, subsidized services, full child tax benefits, etc. as their income is either not reported or reported in such a Deceiving way that they intentionally fall under low income.
—————————
Do you part. Turn in your circle of friends/acquaintances.

https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/informant-leads-program.html

Tax cheats are everywhere. It would be interesting to see where the proportion of tax cheats fall. I’m wagering there are more poor tax cheats just given majority of people make so little. But let’s not go after the welfare moms or “I got carpal tunnel so I can’t work” disability cheque collectors….that wouldn’t be political correct right?

#229 Eks dee Sipal on 09.13.17 at 10:25 am

War, you say? What happened to the war on poverty? 1.2 million Canadian children are losing that war. Alberta has the highest median income, while Quebec has lowest median income, but in both cases, lowest child poverty in Canada. So, no, it has nothing to do with median wages. Just taxes.

http://globalnews.ca/news/3739960/canadian-census-children-poverty/

Unrelated but worldview altering: Google Earth 43.53332595, -131.2971628 … see with your own eyes

#230 RoseBay on 09.13.17 at 10:26 am

For all those folks bemoaning the perks of the small business person/ franchisee- why don’t you put everything you own or get your hands on and risk it in a business venture? You would get to live through very stressful cash flow squeezes, beauracratic edits, crushing number of hours worked etc… or would you rather your 8-4 or 9-5 option?
You don’t know – what you don’t know – just be smart enough to know that!

#231 Dissident on 09.13.17 at 10:27 am

#199 BillyBob on 09.13.17 at 8:10 am

You know what’s simple? All the Limited Partners and CEOs who manage the mid to large-sized corporations in North America outsourcing their cheap labor to China and India…just so that they can get a better EBITDA, and then flip that entity onto another holding company for a nice profit. Its the SAME thing that house flippers do. Except instead of slapping on a cheap coat of paint on a dingy ol’ shack and marking it up $200K, they are cutting domestic labor and marking it up $20 Mil and selling it to the next ‘greater fool’. Where are those fools going to take it from there?

Easy. Automation. The hell with hiring anyone, let alone Chinese or Indian bodies. And, lets still charge the end-consumer/user the same exact price we charged when we were still paying humans to make this crappy retail product. Because people are dumb enough to still buy this, right? They still think we’re making jobs and contributing to a domestic economy instead of gouging consumers and ‘downsizing’ and outsourcing labor, right?

And then lecturing the middle class folks about how they should stop demanding that these 1%-ers be taxed fairly. “We’re taking on the risk. We’re creating jobs. We’re having a trickle-down effect”. Yeah, those lucky Chinese and Indians with their North American-made jobs. All so you can afford to whine about paying annual taxes on your live-in Filipino nannies.

Gotta love globalization.

#232 Eks dee Sipal on 09.13.17 at 10:39 am

I thought it was useful to showcase how morons think. — Garth

Hee hee…. So that’s why you allow stupid posts from Leo Troll stating a million times: “blah blah blah… Booming”.

#233 Eks dee Sipal on 09.13.17 at 10:47 am

#130 No Logic … Yup. Look at the doctor who commented that he is a “business dude”. No thought to grammar, punctuation or proper spelling, yet he is in charge of others’ health? If you want to stay healthy, stay away from doctors (except surgeons) and stay away from hospitals, stay away from the pill pushers and the medical mafia, and you will live a long and healthy life. I guarantee it.

#234 Mike in Edm on 09.13.17 at 10:53 am

I find it absolutely crazy the changing? sentiment in Canada over the past few years. I am admittedly conservative and strongly believe that each individual should largely be responsible for their own success. I’ve always been like this. I moved away after University with $200 in my pocket and $60k in debt, worked hard, and now am probably considered upper middle class. It only took me a few years to pay off that debt. I’m now 35.

My question to all those older than me is this.. Have you seen this cycle before? It seems like Canada has become way more socialist and everyone wants to punish the successful because they aren’t there themselves. Maybe it’s because the young have a louder voice now (internet, social media)? Or will there come a point where everyone is getting taxed to death (even the non 1%) and will finally say “enough is enough, get your hands out of my pocket, I want an environment where I can succeed from my own hard work” and then capitalism is applauded again?

I seriously don’t know? I’m too young to know if this has happened before. I’ve only been paying attention to the real world for about a decade now and in that time it seems as though Harper (who I think was an Ahole) ruined the image of capitalism in Canada and now see everyone wanting to have what everyone else has, not by raising themselves up, but by dragging others down.

#235 Eks dee Sipal on 09.13.17 at 10:59 am

#147 millmech … What is it with you fools who think that all poor people are lazy and stupid? You truly believe this? Really? Why? Because you learned your times tables in school while others didn’t? You truly believe that HALF the population of Canada is lazy and stupid?

I guess you have never heard of the LACK of equality of opportunity. The ownership of capital is in only a handful of hands, in Canada it is 30-40 families. Read ANY book on the subject. Read more in general, you fool.

The truth is that there exists a socio-economic hierarchy in any civilized society. Out of necessity. For the division of labour and efficient use of resources. The problem arises when greedy mfers think it is their divine right to EXPLOIT the labour of others. What you end up with, is the situation we have now: a terminally ill and disproportionate asset allocation between the haves and have-nots. Pitchforks are sharp.

Everything else is noise.

#236 IHCTD9 on 09.13.17 at 11:00 am

#40 David on 09.12.17 at 6:20 pm

This is only going to get worse. I’m advising my two teenage sons to get a skill that will allow them to get out of Canada. The country will continue to decline. The laws of economics cannot be bent without consequence.
_______________________________________

A few posters have mentioned their kids. It’s a struggle I have too – what do you tell them? The Canada I grew up in, was educated in, and was initially employed in is shot to hell. It would be financial suicide to advise my kids to do what Mom and Dad did.

So far, I’m discreetly advising that whatever post secondary brings, always keep potential government employment at the forefront – and don’t arbitrarily rule out moving out of Canada.

I detest the thought of either option, but it’s my kids, and we’re talking about their long-term future wellbeing. Have to brutally honest about the situation.

#237 A box in the sky on 09.13.17 at 11:08 am

#172 Ken From BC on 09.12.17 at 11:21 pm
#60 Bleeding Heart Tim

I make $250k per year. At 54% tax rate, I pay $135k in taxes.

——

Lol no you don’t dummy. The tax system is progressive you only pay 54% on the income above the max bracket cutoff. And you have basic and RRSP deductions to start.

You’re paying nowhere near 135k in taxes on 250k income, stop lying

#238 Ezzy on 09.13.17 at 11:09 am

#23 – I’m an average earner, as well, and I don’t mind paying taxes either, as long as these two conditions are met: 1) complete transparency on where the tax revenue is being used 2) all three levels of government undergo thorough and constant scrutiny of their finances and practices. Seeing as it is highly unlikely those two things will ever happen, I don’t see why we should pay more to a series of institutions that operate with impunity and deign even to thoroughly expose how and where they spend our money. Lastly, this is CANADA not one of the Scandinavian countries. Notwithstanding my European background I have no desire for Canada to be like any European country, at all.

#239 Divergence on 09.13.17 at 11:12 am

Vancouver and Toronto are diverging again.
From this month’s Teranet HPI:

Vancouver +2.41% from previous month.
Toronto -0.43% from previous month.

https://housepriceindex.ca/2017/09/the-teranet-national-bank-house-price-index-points-to-a-decline-in-toronto-in-august/

Actual year over year for Vancouver is reported as +9.27%
Actual year over year for Toronto is reported as +23.93%
But Vancouver’s current rate (+2.41% per month), compounded, would mean a +33% per year.

Need any more proof of the uselessness of Teranet? — Garth

#240 RyYYZ on 09.13.17 at 11:17 am

Yep, the difference between the wealthy and the rest of us is that they hold productive assets (stocks, bonds, etc), and make most of their income from those assets. And then they get taxed on the incomes from those assets in a very advantageous manner compared to the incomes that use regular working stiffs, uh, work for (as opposed to being paid for owning productive assets). This describes most of the people who run our society. I wonder why they get the tax advantages?

#241 John M. Green on 09.13.17 at 11:20 am

The small business tax rate in BC went down – from 2.5% to 2.0%. That’s for income under $500,000. That’s most small businesses I’d suspect.

And the general corporate rate went up. Who does the NDP think creates jobs? — Garth

#242 Leo Trollstoy on 09.13.17 at 11:21 am

wage slave plebs want everyone to be wage slave plebs. is normal. will never happen. y u mad bro? life is good. enjoy it.

#243 SCD on 09.13.17 at 11:23 am

As a resident of British Columbia I am beginning to wonder if the goal of the provincial and federal government is to effectively eliminate productivity. Between all the tax increases, demonization of anyone who tries to earn a decent living and the pro-marijuana stance, what other conclusion is there? Shame.

#244 Leo Trollstoy on 09.13.17 at 11:24 am

…Look at the doctor who commented that he is a “business dude”. No thought to grammar, punctuation or proper spelling…

when u have $ grammar spelling don’t matter

at least doc isn’t a jerk pleb like u

https://www.sciencealert.com/people-who-constantly-pick-up-grammar-mistakes-are-kinda-jerks-scientists-find

#245 Leo Trollstoy on 09.13.17 at 11:25 am

wage slave plebs can cheer extra taxes all they want. irrelevant. they’ll still be wage slave plebs and the monied will continue to be monied. sorry to disappoint. be nice to your boss

#246 Doc on 09.13.17 at 11:39 am

As a doctor, and several of my friends/colleagues, the issue with the tax changes isn’t so much the income splitting rules.

The avg doctor probably grosses about ~300K, which means take home is about $180K. If the spouse works, there’s not much room for income splitting. If they don’t work, then it is easy to justify their participation in the company and pay them a salary to ‘split’. So the net affect for the avg doctor is about the same.

I have a few RARE colleagues who make 500K+, and yes, they enjoy a huge tax advantage paying salary/dividends to adult children. So if Trudeau wants to close this “loophole”, fine.

But it is largely the retained earnings being taxed at 73% and calling all small business owners tax cheats (not paying their fair share) which is exceedingly incendiary.

Couple this with their spending problem and holier than thou art and we are where we are today.

And I love my nurse colleagues – but the CNA position doesn’t particularly endear them to me. They really should have stayed out of it.

#247 Tazi bnu on 09.13.17 at 11:41 am

Even the chair of the Finance Committee, a veteran liberal, is saying that Morneau’s tax proposal is incredibly poor policy. Find it in the Globe & Mail behind a paywall.

Also, just a quote from Interstellar that might expand perspective on this government. “We used to look up at the sky and wonder at our place in the stars, now we just look down and worry about our place in the dirt.”

#248 Ace Goodheart on 09.13.17 at 11:47 am

One thing I have noticed about semi-retirement is you get to sit back, relax (recover) and take in your surroundings a bit.

What you (or I anyway) immediately notice, is how much people have been stealing from you, while you were too busy working full time to realize.

These people are first and foremost government, followed by banks and service providers.

The interesting thing is that it becomes apparent not only that you were being robbed essentially blind, but also that a lot of the full time work you had to do, the long hours, the missed vacations, the extra time on weekends, was a direct result of the bills you had to pay, and these bills were made up of a lot of organized theft, disguised as obligation.

Take a minute and read some of the contracts you signed for your loans and mortgages.

Calculate how much you send to the government every year (hit, it’s more than 50% of your income and very close to 65% including sales taxes, gas taxes, alcohol (which is 90% tax and 10% booze) and various other taxes and fees).

Calculate how much the banks are taking from you (there are a lot of hidden fees)

Check out those service contracts for internet, phone, etc.

There is an amazing amount of your money being directed to third parties, who are doing little or nothing for you.

#249 IHCTD9 on 09.13.17 at 11:48 am

#233 Mike in Edm on 09.13.17 at 10:53 am
____

I’m 10 years older than you, I’ve been working in the same heavy industry since 23 years old.

To me sentiments have consistent drifted left as job prospects and wages have declined over time.

Things were fairly predictable up till 2008.

My industry has seen unbelievable contraction since the late 90’s, and the trend indicates more of the same is ahead.

The eat the rich sentiment came on the scene quickly and is brand new, cultivated primarily by government.

IMHO, the days of secure, good paying, long term, full time employment with benefits and pension are completely and utterly dead outside the public sector.

I hypothesize that as more folks start having trouble making ends meet, the more left wing Robin Hood Politicians we will see. These same Politicians will then create via their policies even more folks who start having trouble making ends meet.

Revenues will eventually enter a permanent decline as labour participation drops, folks double-down on avoiding/evading taxes, and public sector costs balloon.

Government will have to tax and fee the crap out of the Citizenry to survive as they will not cut among their own ranks. It ends quickly when the bond market shuts the door on borrowing.

Then comes a decade or more of economic winter.

My .02

#250 Dissident on 09.13.17 at 11:52 am

#243 Leo Trollstoy on 09.13.17 at 11:24 am

Only peasants like you think grammar and bad spelling is baller.

#251 IHCTD9 on 09.13.17 at 11:56 am

#239 RyYYZ on 09.13.17 at 11:17 am

Yep, the difference between the wealthy and the rest of us is that they hold productive assets (stocks, bonds, etc), and make most of their income from those assets. And then they get taxed on the incomes from those assets in a very advantageous manner compared to the incomes that use regular working stiffs, uh, work for (as opposed to being paid for owning productive assets). This describes most of the people who run our society. I wonder why they get the tax advantages?
________

Because those “productive assets” are actually other folks who are working at something that was made profitable with help from initial investments made by folks with surplus cash that would otherwise rot in the bank for lack of other opportunities.

These investments increase productivity, wealth generation, and tax revenue without the government having to lift a finger.

So the government wants to (used to) incentivize these investment deals for plainly obvious reasons.

#252 Stan Broock on 09.13.17 at 12:13 pm

Taxes are a fact of life, inescapable and required in a country with a thin population and big expectations.

———————————–
This does not apply I guess to truly rich offshore tax evaders, the politician buddies (check the scandal with KPMG and the offshore tax scandal). Why were not they name announced?

Why did they get special treatment? Where is the CRA prosecuting and dharrasing them?

But hey, the corrupted imbeciles in power instead call the small Businesses owner tax cheaters!

Wealthy small Business owners.
Fearness.

My behind,
F..k you.

#253 Wait There on 09.13.17 at 12:16 pm

https://www.bloomberg.com/news/articles/2017-09-13/ex-citi-ceo-pandit-says-30-of-bank-jobs-at-risk-from-technology

I told you the middle class will be squeezed and it IS coming! They laughed at the plight of the blue collar worker as deplorables. Well soon it will be their turn.

#254 n1tro on 09.13.17 at 12:17 pm

#76 Old Dog on 09.12.17 at 7:18 pm

OMG. Thank you for reposting that. I’m keeping that story to send off to any dumbass who bitch about others not paying their “fair” share.

#255 X on 09.13.17 at 12:24 pm

Have to go back to the dry cleaners tonight to pick up my wifes dry cleaning. Went last night but they are cash only.

The MD running the legit practice, with trackable revenue, that cannot be hid, is targeted, as he trained for a higher education/profession, but businesses that are illegally hiding revenue are not targeted.

Sounds a little miss guided, especially when the legit business is made out to be the bad guy.

#256 IHCTD9 on 09.13.17 at 12:27 pm

#236 A box in the sky on 09.13.17 at 11:08 am
#172 Ken From BC on 09.12.17 at 11:21 pm
#60 Bleeding Heart Tim

I make $250k per year. At 54% tax rate, I pay $135k in taxes.

——

Lol no you don’t dummy. The tax system is progressive you only pay 54% on the income above the max bracket cutoff. And you have basic and RRSP deductions to start.

You’re paying nowhere near 135k in taxes on 250k income, stop lying
______

You are correct. On 250K income with a 54% marginal rate, while paying 13% on every after tax dollar he spends after the fact, he’s only paying $122,708.00 in taxes

That’s just nothing.

#257 conan on 09.13.17 at 12:30 pm

It is wrong to assume that robots are going to devastate the blue collar worker. My guess is that white collar is going to get decimated first.

First on the chopping block is pharmacists. Soon to be followed by lawyers and judges. These occupations will not disappear, instead ,not as many will be needed.

LOL @ Zoolander. T2 does not look like that guy at all.

https://giphy.com/gifs/12npFVlmZoXN4Y

#258 jess on 09.13.17 at 12:32 pm

…”First, there is a great deal of evidence that the vast majority of offshore wealth was not reported on tax returns in the 2000s. Two U.S. Senate (2008, 2014) reports found that 90% of the wealth held by U.S. citizens at UBS and Credit Suisse was undeclared in 2008″

In 2007 a systems engineer, Her ́e Falciani, extracted the complete list of HSBC Switzerland’s 30,412 clients and of their holdings,which totaled $118.4 billion. A country-by-country breakdown of the wealth held at HSBC Switzerland is published by the International Consortium of Investigate Journalists.10 These statistics only cover one(important) bank, but they have a key advantage: in most cases, the files leaked by Falciani allow to link the accounts owned by shell companies to their actual owner.”…

HMRC – Tackling tax evasion: Government guidance for the corporate offences of failure to prevent the criminal facilitation of tax evasion (12 Sep 2017)
WHO OWNS THE WEALTH IN TAX HAVENS? MACRO EVIDENCE AND IMPLICATIONS FOR GLOBAL INEQUALITY
http://gabriel-zucman.eu/files/AJZ2017b.pdf

=======================

#259 Jeff on 09.13.17 at 12:32 pm

If they touch credit for dividend (for Canadian stock), I sell all my CAD stock and only buy US stocks.

#260 Renter's Regale on 09.13.17 at 12:37 pm

#236 A box in the sky on 09.13.17 at 11:08 am
#172 Ken From BC on 09.12.17 at 11:21 pm
#60 Bleeding Heart Tim

I make $250k per year. At 54% tax rate, I pay $135k in taxes.

——

Lol no you don’t dummy. The tax system is progressive you only pay 54% on the income above the max bracket cutoff. And you have basic and RRSP deductions to start.

You’re paying nowhere near 135k in taxes on 250k income, stop lying

=================================

LOL

What skills do you need to make $250k? Anyone?

My intelligence makes progressive tax systems easy to understand, but I don’t earn anywhere near that income, so that’s not it.

#261 waiting on the westcoast on 09.13.17 at 12:38 pm

Been enlightening the past few weeks here on the comment treadmill….

I have always soft-envied and admired people more successful than me. I have tried to realign my life’s options to emulate their success.

Some people here have talked about how some people were born with more or had connected families, etc. Here is my take…

I am fortunate that I was born into a family of entrepreneurs. I saw first hand the commitment, drive and creativity needed to be successful. My father went to school to grade 5 during WW2. He was from an extremely poor family and had ambition for more. He came to Canada on his own, knowing no English, at 19 years old. He is nearing the end of his life but still gardens, tends his rather large yard and travels extensively. He is by no means rich but he still is frugal to protect his assets for his children and grandchildren.

Yes – some people are born into wealth and privalege. Some are born into poverty. And yes, it is far more challenging if you are born in tough circumstance like my Father was. That said, he would be the first to tell you that you must have the “wanting”, the desire to do more and get more. He would tell you that you are not guaranteed success even if you do everything right. He would tell you that you need to keep pushing even when you fail at different times.

I have also seen many people born into wealth, squander it through apathy, partying, and self indulgence. I have also seen the rich take bigger risks to build their family empire even bigger and lose. There are no magic bullets to life for anyone.

We are fortunate that we live in a time where we have the tools to be successful readily available. No excuses (and we all have them) are needed.

Laurie

#262 IHCTD9 on 09.13.17 at 12:40 pm

#234 Eks dee Sipal on 09.13.17 at 10:59 am
#147 millmech … What is it with you fools who think that all poor people are lazy and stupid? You truly believe this? Really? Why? Because you learned your times tables in school while others didn’t? You truly believe that HALF the population of Canada is lazy and stupid?

I guess you have never heard of the LACK of equality of opportunity. The ownership of capital is in only a handful of hands, in Canada it is 30-40 families. Read ANY book on the subject. Read more in general, you fool.

The truth is that there exists a socio-economic hierarchy in any civilized society. Out of necessity. For the division of labour and efficient use of resources. The problem arises when greedy mfers think it is their divine right to EXPLOIT the labour of others. What you end up with, is the situation we have now: a terminally ill and disproportionate asset allocation between the haves and have-nots. Pitchforks are sharp.

Everything else is noise.
_____

While I agree, it is disingenuous to imply that the socio-economic hierarchy has the last word on your out come. Sure, it helps those at the top, but hard work and effort can get you up and running just fine.

My family came to this country with squat, 1 generation later the offspring thereof is doing fine.

BTW, the only time in my entire life I was denied an opportunity at work in Canada was because I am Male instead of Female.

Maybe it’s time to modernize your philosophy?

#263 n1tro on 09.13.17 at 12:42 pm

#93 Spock on 09.12.17 at 7:56 pm
#85 Screwed Canadian Millenial on 09.12.17 at 7:45 pm

No one wants you to be sorry for them. You should be sorry for yourself first (which is not possible because of the blinders you have on and/or limited intellect)
——————————
Easy on the young pup. They are our future! People don’t know what they don’t know. In the case of this one, his/her degree in liberal arts can only teach them so much other than whining.

#264 jess on 09.13.17 at 12:42 pm

Who Creates Jobs?
the young not the small?

http://www.nber.org/digest/feb11/w16300.html

#265 IHCTD9 on 09.13.17 at 12:43 pm

#232 Eks dee Sipal on 09.13.17 at 10:47 am

If you want to stay healthy, stay away from doctors (except surgeons) and stay away from hospitals, stay away from the pill pushers and the medical mafia, and you will live a long and healthy life. I guarantee it.
____________________________________________

That’s some scary stuff there bro. I reckon every dog on this board over 40 knows at least one person who would vehemently disagree with you on that bit of advice.

#266 waiting on the westcoast on 09.13.17 at 12:47 pm

Re: taxes

I think the one item that bus me the most is teaching gains made within a corp. I have intentionally taken less or is my company and invested in software startups. The reason I did that was two fold: I liked that I could build wealth inside of my company and I like to invest in other entrepreneurs who are innovating and creating new things.

These types of companies are highly risky to build up and is my after tax dollars are going to be substantially less, I will have to reallocate more is my monies to standard public company equities, bins, etc., that are safer and more liquid.

The difference is that when buying shares of a public entity/bonds, you are moving money around. When investing directly into startups, you are using that money to hire employees who are learning skills to grow businesses from 100k to multimillions per year. You are building the ecosystem and directly creating highly skilled jobs.

#267 aa6 on 09.13.17 at 12:57 pm

Catholic schools teach students who become good Catholics.

Government schools teach students who become good government supporters.

Every issue in society, near 100% of Canadians think the answer is more government and more taxes. It is the box they have been trained to think within.

Canadians are born in a government hospital, spend most of their youth in government schools, then onto government universities. The media is mainly government ran or at least government funded(ads).

Most Canadians with good jobs work either directly for the government or for a subcontractor to the government.

They retire to their government pension. And ultimately die in a government paid for old folks home.

What are our options? I do not know, as most Canadians would not be able to make it in the modern free economy. The ones who can are migrating to the USA and have been for decades.

#268 Moller on 09.13.17 at 12:58 pm

Who says Canadians aren’t saving…

65% of Canadians are saving for retirement, census shows
http://www.cbc.ca/news/business/census-canadian-saving-1.4287219

Don’t get too excited. The savings rate has gone from 20% to 4% and 80% of TFSA funds are in brain-dead GICs. — Garth

#269 HaHaHa on 09.13.17 at 1:10 pm

#234 eeks what the whatever. Get a job commie

#270 Screwed Canadian Millenial on 09.13.17 at 1:13 pm

@#240

And the general corporate rate went up. Who does the NDP think creates jobs? — Garth

————-

Aggregate demand creates jobs Garth. Lower and middle class workers spending money in the local economy is what creates jobs. When they have more disposable income, the economy does better. That’s why wages need to go up.

https://www.youtube.com/watch?v=8wAa9DqHZtM

Corporations hoarding billions offshore does not create jobs.

How many times have we seen headlines like this?

BMO Layoffs: 1,000 Jobs Cut As Bank Hit Record Profits
http://www.huffingtonpost.ca/2013/12/03/bmo-layoffs-job-cuts-record-profits_n_4379825.html

Record profits. More layoffs.

So please spare me Garth.

The US has a 35% corporate tax rate and they created 16 million jobs under Obama and got down to a 4.4% unemployment rate. An unemployment rate that was somehow fake to the deplorables when Obama was president but magically became real again when Trump took office.

https://www.youtube.com/watch?v=Np40ayMJI1Y

How did Canadian corporations reward the Canadian people for those repeated tax cuts? With mass layoffs and a record pile of “dead money”. Not my words.

Free up ‘dead money,’ Carney exhorts corporate Canada
https://beta.theglobeandmail.com/report-on-business/economy/free-up-dead-money-carney-exhorts-corporate-canada/article4493091/?ref=http://www.theglobeandmail.com&

Corporate Canada is sitting on $680 billion, 85% of Canadians say raise corporate taxes
https://www.pressprogress.ca/corporate_canada_is_sitting_on_680_billion_85_canadians_say_raise_corporate_taxes

I don’t understand this conservative obsession with shifting the tax burden FROM corporations making billions upon billions in profits TO families making $30k per year. Or even $60k, or $100k.

You posts are interesting, massively-researched and carefully constructed (although seriously lop-sided). Do you not have a job? Or are you stealing you employer’s time to be here? Government position? Just curious. Share. — Garth

#271 IHCTD9 on 09.13.17 at 1:14 pm

#230 Dissident on 09.13.17 at 10:27 am
And, lets still charge the end-consumer/user the same exact price we charged when we were still paying humans to make this crappy retail product. Because people are dumb enough to still buy this, right? They still think we’re making jobs and contributing to a domestic economy instead of gouging consumers and ‘downsizing’ and outsourcing labor, right?
_________

Pricing moves slow. The first ones in make the money for a while, but then other smart folks catch on. None of the players want the prices to go down, but they always do because the competition for market share drives it there.

It’s easy to cut price for business in the beginning when the margin is fat, but gets harder the more you slice off. Eventually, the margin is hardly any better than it was when the cost cut strategy started, only now; everyone has done the same, and there is no way to ever go back. At this point, pricing has dropped to a fraction of what it once was, a new price tolerance has been firmly established, and Consumers win forward to infinity from this point.

I’ve used this example before: A 20HP Craftsman lawn tractor cost $4500.00 USD in 1981, it was the best model available. That equals $14,346.61 CAD as of today. Would you shell out 14K for a stamped steel tractor that mows grass? All of us Westerners would still be pushing that LawnBoy if not for Globalized trade with 3rd world countries.

The best Craftsman now cost around 3800.00 CAD – but SEARS can’t compete even at that price.

You can take this to the Bank – Consumers have won HUGE due to Globalism. Pricing just moved so slow that many of todays consumers are not old enough to remember how expensive stuff was relative to incomes 30+ years ago. That’s why folks used to fix broken stuff – it was cheaper to do so if you can believe it.

#272 Screwed Canadian Millenial on 09.13.17 at 1:17 pm

@#262 n1tro
Easy on the young pup. They are our future! People don’t know what they don’t know. In the case of this one, his/her degree in liberal arts can only teach them so much other than whining.

——————

Once again resorting to petty, childish insults because you can’t argue the facts or the data.

You know n1tro they always say how you boomers dropped out of high school and joined the labor force, it shows because you still have the mentality of school children.

As I predicted, not one of you conservatives could show the job losses in Seattle that you corporate shills promised.

#67
#70
http://www.greaterfool.ca/2017/09/12/war-3/comment-page-1/#comment-540552

In my experience, nothing enrages boomers and conservatives more than higher wages for hard working men and women in this country.

#273 Dotty on 09.13.17 at 1:41 pm

This statement is incorrect “Small business operators also got it in the neck”. In it’s mini budget the new BC Government actually REDUCED the small business tax rate from 2.5% to 2%.

And although they did increase the corporate tax rate to 12%, that only brings it in line with many of the other provinces. In return, the corporations got a break on hydro rates because the PST is being eliminated on electricity, and there was a 50% reduction in MSP premiums (that most BC corporations pay on behalf of their employees).

So, although you may not agree with what is contained in the budget, you should not misrepresent the contents in order to further your argument.

Corporate taxes went up 9%. Refute that. — Garth

#274 Al on 09.13.17 at 1:46 pm

The second rate increase must be having a yuuge effect on homeowners with variable rate mortgages.

#275 IHCTD9 on 09.13.17 at 1:58 pm

#227 n1tro on 09.13.17 at 10:24 am

Tax cheats are everywhere. It would be interesting to see where the proportion of tax cheats fall. I’m wagering there are more poor tax cheats just given majority of people make so little. But let’s not go after the welfare moms or “I got carpal tunnel so I can’t work” disability cheque collectors….that wouldn’t be political correct right?
___________________________________

Living in small town Ontario, I can confirm without a shadow of a doubt that just about every other person on government support (that shouldn’t be) works under the table. Kind of funny when you see a guy you know is on long term disability down the road putting on a new roof.

Moving up from there, tradesmen are 90% doing the odd job for cash, 50% trying to do as much as they can with varying success, 5-10% have a big underground gig for a big corp.

Welfare Moms are a pandemic. A nearby town is famous in Social Worker circles for this. I personally know two guys who were flat propositioned with NSA sex for the explicit purpose of conceiving after which they were to run along. We now have huge numbers of “multi-family” households where there may be 5 kids, but none of them are full blooded siblings. The resources these families inhale is incredible with the government essentially playing the role of “Mom”.

This way of life must be turbocharged now with Trudeau’s changes to the CCB which pays more than just about any other benefit depending on the situation. Hell our cheque went up even at over 100K household income.

Oh, the rich guys are ripping off the government too – but I’d bet most don’t as they have too much to lose, and are always in the cross-hairs.

#276 Eks dee Sipal on 09.13.17 at 2:05 pm

#241 Leo Trollstoy … rich scumbags that think they are economic experts want everyone to be scumbags like them to justify their own scumbaggery. is normal. will never happen. y u mad bro? life is good. enjoy it.

#277 Eks dee Sipal on 09.13.17 at 2:08 pm

#227 n1tro … I thought you were smarter than this. Who is more clever? The cheating welfare mom or the nitro guy who complains about it and threatens to do the same thing? Think… before… you… type… Again: no solutions from Conservatives, just threats.

#278 Eks dee Sipal on 09.13.17 at 2:13 pm

IHCTD9… I respect your point of view immensely, and I have learned much from you from a practical perspective. But if you had the burden of knowing what I know, well, let’s just not go there… enough for today. I’m going to play with my dog.

#279 ITGuyInc on 09.13.17 at 2:22 pm

So I showed up a little late to the Inc Party so I’m not really affected by the new tax implications one way or the other.

2 Things REALLY bother me

1. Since the Panama papers have been released it seems like next to nothing has been done. Morneau has even been quoted defending holders of these questionable accounts saying that some of them are not illegal. Why aren’t they going after anyone who has done some illegal tax cheating, or the companies facilitating it? ***Cough, KPMG cough cough*** Why aren’t they closing these legal “loopholes” for the richest in the country who are the only ones who have access to these sorts of schemes?

2. When you take the time to thoroughly understand how retaining earnings in a small business/corp ACTUALLY works, you realize it’s not as advantageous as you think. When you step back and fully understand it, it’s VERY similar how an RRSP works. The exception is that you’re paying a lower Corporate tax (about 16.5%) right now, and holding whats left over in the company. This DOES NOT mean you can go out and buy a flashy new car or put that money towards your mortgage. THIS MONEY CAN’T BE TOUCHED FOR PERSONAL USE, until it’s extracted via salary or dividends at a later date which is TAXED AGAIN at your personal rate, which is much like how RRSPs work when you retire. Tax deferred, NOT tax exempt.

Everyone’s so angry. I get it, we all feel like we’re getting screwed when we see how much we pay in taxes and the pressures of paying off a mortgage in an area where you can find good work. Just keep in mind that the Liberals are manipulating us all to start this middle class tax war. While we’re all distracted, they’re spending is ridiculously out of control and they let the insanely rich %1, who have more than they know what to do with, off scott free.

#280 ITGuyInc on 09.13.17 at 2:29 pm

Damn, wish I could go back and edit those terrible spelling/grammar errors.

#281 totally agree on 09.13.17 at 2:29 pm

Garth,

Right on with your analysis….

…this country went over the cliff awhile ago, now it’s just a matter of how hard we collectively hit bottom.

Sad to see what’s going on across this country.

……………….

am actually encouraging our kids to look/move abroad , if they have the entrepreneurial bug like dad. A thought that wouldnt even cross my mind yrs ago.

If not, seek govt employment. HOW could you go wrong?

#282 Dan on 09.13.17 at 2:38 pm

DELETED

#283 Bruce on 09.13.17 at 2:45 pm

#248 – IHCTD9

That is my thinking as well. Garth is right on the war being over, and anyone on the side of reigning in government lost. Canada has been majority left for some time, it is is only increasing as both Libs and NDP push harder there. As we can see by the comments on this blog, this is done to thunderous cheer.

I wrote here this week that the next tax move would be to make the “$150K” level be that which is “rich” and anyone above needs to do more (above the current system which is already progressive that most don’t seem to understand). $150K is the level that, for the most part, is above the higher end union salaries. And now – bang – the BC government has gone and done it. I was more right than I wanted to be.

This will come federally soon, though expect capital gains exclusion rate and perhaps dividends to be next. After these three are done, and the debt & deficits continue to grow, the government will have to move downmarket. That is OK, as more benefits will flow to the 80% still not touched so they will cheer the ever increasing taxation of those “above them”.

#284 Stan Broock on 09.13.17 at 2:46 pm

Here is the view on the idiotic tax reform proposed by the lie-berals as expressed by Silicon Valley entrepreneurs:

https://ca.finance.yahoo.com/news/hootsuite-ceo-says-tax-changes-080004837.html

“I’ve been an entrepreneur and a small business owner for a large part of my career. I know that a lot of those businesses operate on the margins,” Ryan Holmes, CEO of social media management platform Hootsuite, said in an interview at the Cascadia Innovation Corridor Conference.

“I would encourage the government to look very closely because … it is causing a lot of concern to business owners,” he said.

Limiting income splitting will impact compensation for family members who may not be actively involved in the business, but share in its risk, and the practice is essential to entrepreneurs’ retirement planning, according to the local board of trade’s website.

Meanwhile, the higher tax rate on passive investments will reduce the funds available for such purposes and limit entrepreneurial reinvestment in the economy and their businesses.

That environment runs contrary to the federal government’s stance as one that puts innovation front and centre. The buzzword received hundreds of mentions in the budget and the Liberals have committed to $950 million to a supercluster program.

————————–
A question:

Does somebody actually really think that 2 joke-daddies-money-trust-fund-elitists care about the economy of this country?

I guess the frozen tundra is not becoming the new Silicon Valley Any time soon.

Oligopolies and old extortion money Businesses can not make a country prosperous, dear Lie-berals.

But at the end this not what you looking for Canada anyway.

#285 HankReardenPunchbagNumber4 on 09.13.17 at 3:13 pm

#120 Canadian Millenial who spells ‘Millennial’ curiously

I’ve been thinking and reflecting. No good ever comes of that.

If legislating away poverty worked, why hasn’t everyone done it already?

Maybe if they could just do socialism right this time around, eh?

Humans respond to incentives.
Skills and capital are more mobile than ever.
Not too many dots to join.

Good luck, love your family and friends, make the most of every day and do good work cheerfully and your world will be good.

#286 rainclouds on 09.13.17 at 3:19 pm

#267 moller

We might be saving a bit.but we sure are spending A LOT. in fact waaay too much

http://jugglingdynamite.com/

#287 CHERRY BLOSSOM on 09.13.17 at 3:24 pm

Lets all stop donating any money and lets all stop volunteering. Let the government take care of everything.

#288 Screwed Canadian Millenial on 09.13.17 at 3:27 pm

Oh cmon Garth you didn’t even give me a DELETED on my last 2 comments? Just scrubbed them? For no reason. Cmon Garth there was nothing wrong with those 2 and you know it. Are we not allowed to challenge corporate power at all? What did I do wrong this time? Argued too well? Backed myself up with facts and sources?

None were deleted. Tip: Remember to press the button with the left-facing arrow on it. — Garth

#289 Screwed Canadian Millenial on 09.13.17 at 3:31 pm

Shiet nvm I’m blind. My bad. I’m on mobile. Didnt see em. Assumed u scrubbed them (wouldnt be the first time). Apologies Garth.

Also @#269 Funny how u ask me that but nobody else? Are you stealing your employer’s time lol? Thank you for saying my comments are interesting, your blog is too and I’ve been a fan for many years.

#290 Screwed Canadian Millenial on 09.13.17 at 3:35 pm

And yes I know what Garth does for a living. And no I’m not going to doxx myself. Pretty sure this is the first time ive ever day posted here Garth.

We are not worthy. — Garth

#291 n1tro on 09.13.17 at 3:39 pm

#271 Screwed Canadian Millenial on 09.13.17 at 1:17 pm
@#262 n1tro
Easy on the young pup. They are our future! People don’t know what they don’t know. In the case of this one, his/her degree in liberal arts can only teach them so much other than whining.

——————

Once again resorting to petty, childish insults because you can’t argue the facts or the data.
————————
This coming from the same loudmouth who posted a
random picture and saying it was 2 of the posters here. What does that tell you about your behavior?

As for being a boomer who only has high school. You wish. I’m Gen X, fully educated and still upgrading my skillsets. Difference between you and me is that I adapt to my situation. When I started working, minimum wage was $4.25/hr. I never bitched about it needing to be increased.

To all the other non-whiny millennials. Don’t lose hope. If your job sucks, get another one. Keep jumping jobs until you find your fit. Learn from your managers so you can take their place when they get promoted. If your manager is an idiot, learn his/her job anyways so the director can promote you. Bitching about how bad you have it like SCM doesn’t change anything.

Take it from Gen X lobster who has climbed from the bottom of the pot and is almost out, it can be done. Just takes a bit of time and the right mindset.

#292 Stan Broock on 09.13.17 at 3:51 pm

#274 IHCTD9 on 09.13.17 at 1:58 pm
#227 n1tro on 09.13.17 at 10:24 am

Tax cheats are everywhere. It would be interesting to see where the proportion of tax cheats fall. I’m wagering there are more poor tax cheats just given majority of people make so little. But let’s not go after the welfare moms or “I got carpal tunnel so I can’t work” disability cheque collectors….that wouldn’t be political correct right?
___________________________________

Living in small town Ontario, I can confirm without a shadow of a doubt that just about every other person on government support (that shouldn’t be) works under the table. Kind of funny when you see a guy you know is on long term disability down the road putting on a new roof.
——————————

Absolutely!

I know a single mom (no husband), with 2 kids working as q waitress making 5 k clear from tips per month tax free in Toronto, reporting 1.5 k to the government.

She lives with boyfriend but reported as ‘single mom’ to the government.

So she got significant money as government child support (no father of the children acknowledged) and as results her children were both going to an expensive Montessori private schools in Toronto.

——————————–

This was one of the drops that really pushed me over the edge in my decision to leave this lie-berast sh.thole.

She was basically sending her kids to expensive private schools with my taxes while my kids where going to s..ty public schools!

So I guess the 2 elitist idiots are not concerned with all these real tax cheats who work for cash while milking the system but instead going to the absolutely legally hard working small business instead!

It is just another great justification for my decision to leave and refuse to pay taxes to the cancerous lying stupid extortionists and thieves who serve the Big Businesses.

#293 Screwed Canadian Millenial on 09.13.17 at 3:52 pm

@#n1tro

As for being a boomer who only has high school. You wish. I’m Gen X, fully educated and still upgrading my skillsets. Difference between you and me is that I adapt to my situation. When I started working, minimum wage was $4.25/hr. I never bitched about it needing to be increased.

——————

You Gen Xers, especially the early ones are honorary boomers in my books.

“When I started working, minimum wage was $4.25/hr.”

Inflation boomer. Ya heard of it? Now ADJUST.

You spoiled entitled brats grew up at the pinnacle of the western world labour market and then screwed it up the rest of us and pulled up the ladder behind you.

How many Temporary Foreign Workers were being flooded into the country to suppress wages and steal jobs in your day? Hmm? In your day, the labour force was the Canadian labour force. That was your competition. Not the entire 3rd world, willing to work for peanuts. And I’m not even talking about globalization, that’s a whole other story. I’m talking about employers being able to throw Canadian job applications in the trash, and the government willingly shipping in slave labour as far as I’m concerned that’s what it is.

And don’t tell me they only work on farms. That’s bs.

RBC replaces Canadian staff with foreign workers
http://www.cbc.ca/news/canada/british-columbia/rbc-replaces-canadian-staff-with-foreign-workers-1.1315008

How much was gas in your day? No GST/HST, that must have been nice. How much did you pay for your tuition. By all means inflation adjust it for me too. Still peanuts.

What was the income to housing cost ratio?

Housing has gone up some insane % the last 10,15,20 years. Wages flat. You boomers and even you Gen Xers grew up on 3rd base and you think you hit a grand slam.

Gimme a break.

Thanks for the $650 BILLION national debt you spoiled entitled brat. And that’s just federal.

#294 Mike in Edm on 09.13.17 at 4:02 pm

#248 IHCTD9 on 09.13.17 at 11:48 am

************

Thanks for that. I could see it. What I also see contributing to the eat the rich mentality is since most ppl are up to their eyeballs in debt right now (and it’s only going to get worse) and living paycheck to paycheck, they want to blame everyone else but their own need to keep up to the Jones’. 70″ TV’s and brand new cars… I still have a 10yr old 40″ HDTV and drive around in a 12yr old car, but have zero debt and will be one of the ‘rich’ paying for everyone else to own all that consumer junk, unfortunately (for all).

#295 Screwed Canadian Millenial on 09.13.17 at 4:04 pm

Here you go. I should post these every day.

1. https://imgur.com/ZCw7726

2. https://imgur.com/CLUJFtS

3. https://imgur.com/2xPwJBk

#296 n1tro on 09.13.17 at 4:10 pm

#276 Eks dee Sipal on 09.13.17 at 2:08 pm
#227 n1tro … I thought you were smarter than this. Who is more clever? The cheating welfare mom or the nitro guy who complains about it and threatens to do the same thing? Think… before… you… type… Again: no solutions from Conservatives, just threats.
———————–
What are you babbling about? I don’t care about the welfare moms cheating taxes. Just pointing out that there are tax cheats everywhere in ALL classes of our society. I’m pointing out it isn’t politically correct at the moment to pick on the poor.

The middle class has their own cheaters too. Some are buying income to collect EI.

As for me doing or advocating doing the same, you fail to see the difference. My comment about retaining your citizenship to milk benefits is within the current rules and laws of Canada (worked out well for Omar Kadr and his family). Welfare and tax fraud are NOT within the current rules and laws of Canada.

#297 Garth is not god on 09.13.17 at 4:24 pm

#266 aa6
=======
Blockchain technology will kill 80% of government job, what will Canadian going to do after that ? OMG they have to do real work.

#298 Gravy Train on 09.13.17 at 4:26 pm

#278 ITGuyInc on 09.13.17 at 2:22 pm

“… When you take the time to thoroughly understand….”

You may be overlooking shareholder entitlement to the lifetime capital gains exemption on the disposition of qualified small business corporation shares.
https://www.canada.ca/content/dam/cra-arc/migration/cra-arc/E/pub/tp/it458r2/it458r2-e.pdf

Sorry, Garth, I let the cat out of the bag! :)

#299 Garth is not god on 09.13.17 at 4:39 pm

#266 aa6
=======
When tech replaces gov job, strong Canadians get universal basic income and will the weak working salves will pay more taxes to support UBI

#300 Jessica Tyson on 09.13.17 at 4:48 pm

As long as your saving $10,000 a month in RRSP’s, TFSA’s, non-registered accounts like my brother, it does not matter it is all in brain dead 2.75% to 3.25% 5 year GIC’s.

He managed to save and accumulate $1,000,000 in brain dead GIC’s and $320,000 in brain dead RRSP, TFSA GIC’s.

No debts, no mortgage or house to take care of and cheap $1,100 a month utilities a month 2 bedroom apartment. No need for a car either. In 12 years he is retiring at 50 years old with $3.5 million and at least able to save $5,000 a month possibly $6,500 to $7,000 a month if using long term bonds, pay all taxes, expenses without working.

#301 n1tro on 09.13.17 at 4:50 pm

#294 Screwed Canadian Millenial on 09.13.17 at 4:04 pm

Hey SCM, what neighborhood do you live in? I’ll slow drive by in my Tesla with the Drake song “Started from the bottom” blasting away in tribute to you. Must really get you steamed that others have it so good. Thank your hero T2 and his kind for subsidizing my $100K car with your pitiful tax dollars when you get the chance. I’m too busy living like a fat cat! :D

#302 Fran Deck Jr. on 09.13.17 at 4:56 pm

@299 Jessica Tyson

… speaking of brain dead

Your comments are a complete fabrication.

#303 SilverSon on 09.13.17 at 5:04 pm

“You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it.”

― Adrian Rogers

#304 Stan Broock on 09.13.17 at 5:18 pm

Why are the tax rules so complex?
To make you feel guilty!

http://www.telegraph.co.uk/football/2017/07/31/cristiano-ronaldo-appears-spanish-court-answer-questions-alleged/

#305 Stan Broock on 09.13.17 at 5:21 pm

#302 SilverSon on 09.13.17 at 5:04 pm
You cannot multiply wealth by dividing it.”
————————-
Exactly,

The goal of the 2 elitists is to steal wealth, not to multiply it.

Steal a bigger piece of an ever shrinking pie.

#306 Stan Broock on 09.13.17 at 5:24 pm

The question is whether we do recognize the 2 elitists as legitimate representatives of the government.

The first is on payroll of BIS, the second, of Aga Khan abd Bill Clinton foundation.
Stop their Canadian salaries, please!

#307 El Joko on 09.13.17 at 5:49 pm

Garth lives in this strange, wonderful reality where high taxes and low inequality mean unemployment.

I wonder if he’s ever heard of Iceland or Scandinavia.

Lots of blondes, I hear. — Garth

#308 jose on 09.13.17 at 5:57 pm

#294 Screwed Canadian Millenial on 09.13.17 at 4:04 pm:

I love it! ;)

#309 joblo on 09.13.17 at 6:00 pm

Hey Stan Broock, interested in where you researched and ended up xcaping to.

#310 espressobob on 09.13.17 at 6:19 pm

The only accomplishment that will come from punishing overachievers is apathy.

#311 Screwed Canadian Millenial on 09.13.17 at 6:22 pm

DELETED

#312 Screwed Canadian Millenial on 09.13.17 at 6:34 pm

Lol. I’ll try it again Garth.

@#300 n1tro

Typical boomer mentality. “I got mine, SCREW everyone else.”

Enjoy your new taxes.

#313 S on 09.13.17 at 6:37 pm

#245 Doc on 09.13.17 at 11:39 am

That comment is spot on. Proposed changes are really an attempt at wealth confiscation as far as reaching for retained earnings is concerned. That money has already been taxed at corporate rate and will be taxed at dividend rate when it is paid out to shareholders. Total tax paid on the money will in the end be over 50%. What most posters here don’t get is that this is not different from the government knocking on their doors saying: “Hey, we see that you’ve done a good job saving for your retirement in your RRSP and TFSA accounts. Well, we’ll be needing that money…” In fact I am now convinced that in the future these accounts will be subject to at least a partial seizure and confiscation.
Act accordingly or learn the hard way.

#314 n1tro on 09.13.17 at 7:38 pm

#311 Screwed Canadian Millenial on 09.13.17 at 6:34 pm
Lol. I’ll try it again Garth.

@#300 n1tro

Typical boomer mentality. “I got mine, SCREW everyone else.”

Enjoy your new taxes.
—————————–
Wrong again. Just screw you. The rest of your cohorts have the chance to join which I’m sure you will hate on in due time. No new taxes for me as I am not incorporated. Many, many opportunities to avoid taxes as a sole proprietor but it warms my heart or should I say, my wallet that someone like me is in your head.

Enjoy your pathetic life.

#315 Dennis on 09.13.17 at 8:16 pm

Just an observation. We have ‘golf and country club’ not far from my home ( I’m not a member – hate golf).20 years ago, most of the members were lawyers, doctors, accountants and so on.

A few neighbors and I were having a beer, and we remarked that the new majority at this club is ( you guessed it) teachers. Why? Money to afford it, and time to use it. Canada in microcosm. Private sector workers working so that public sector workers can enjoy their abundant time off. Sigh.

#316 Screwed Canadian Millenial on 09.13.17 at 9:09 pm

@#313 n1tro

“Many, many opportunities to avoid taxes as a sole proprietor”

I reported you to the CRA. They’ll be able to get your IP no problem.

#317 Robert White on 09.13.17 at 10:19 pm

The Art of War perspective is one thing, but financial Armageddon is an altogether whole different proposition, Garth. Mean Reversion & Secular Stagnation in conjunction with QE Infinity withdrawal symptomatology will implode the entirety of the Global Financial System due to uncontrollable systemic Hegelian Death Spirals occurring in every facet of BIG Finance from the $1.5 quadrillion dollar USD Dark Pool Derivatives Universe to the Debt Ceiling Debt to GDP impracticality with respect to Debt Ratios.

This is NOT ‘war’, Garth, this is the beginning of the end where cans cannot be kicked down roads of infinite distance and time duration. This is a race to the bottomless pit of liquidity hell for the entirety of Western civilization. When Giant Vampire Squids are permitted to run Madoff-like Ponzi schemes for decades on end the real Mean Reversion will be characterized by more than mere ‘war’ with Barbarians at the gate. We are talking Mandelbrot Sets of Deflation system wide YoY for the foreseeable future of contemporary Finance as we once knew it.

RW

That was oddly arousing. — Garth

#318 John of Grant on 09.14.17 at 8:17 am

234 Eks dee Sipal

…I guess you have never heard of the LACK of equality of opportunity….

————————————————–

Then why is it that 8 of the 10 richest people in America are self made billionaires?

#319 Doghouse Dweller on 09.14.17 at 11:05 am

The Canadian Prime Minister Justin Trudeau is doing his best to send Canada into the Dark Age.

http://www.armstrongeconomics.com