Toast

Is Bill Morneau toast?

Fresh news our playboy finance minister owns a villa in southern France through a private corporation he forgot to disclose to the Ethics Commish didn’t help much. Nor does the fact his family firm (inherited), Morneau Shepell, specializes in tax-avoiding gilded parachutes for wealthy corporate executives, at the same time he’s been hammering hairdressers, chiropractors, vets and IT guys about their retirement savings.

Worst, because he’s a political rookie, Bill let the communications dudes at Finance and the PMO spend the summer telling us two million incorporated people who host half the jobs are tax cheats. They’re not. Rules are rules. Almost everybody plays by them. Abruptly changing the playbook, then accusing taxpayers of being loopholers and criminals, was a massive blunder. Morneau will not survive it.

Monday morning Lib MPs will attend a mandatory caucus to hear the finance minister go into reverse – sort of. The first backlash against the T2 government was something Justin never expected. By labeling the self-employed as bad, devious people he thought his voting base would embrace the ‘fairness’ theme, believing they could get a benefit from tearing others down. Some swallowed the propaganda. Millions have not. The roster of professional groups the Liberals have pissed off is now heroic in size, from unions to law societies.

(T2 and Morneau will formally announce their ‘retreat’ Monday at noon at the Pastaggio Italian Eatery, in Stouffville. Hold the anchovies.)

During the debate leader hypocrisy was ferreted out. Trudeau is a millionaire thanks to a familial trust fund established by his grandfather who owned a string of gas stations. Yep, a small business dude. Morneau lives in a $5 million house just off Bayview Avenue in Toronto and has $30 million in personal assets, thanks to his dad, Frank, who started a human relations company in 1966. Yes, an entrepreneur. Now that their wealth is assured, critics say, the noose tightens on others who would walk the same path.

Being rich is not a bad thing, of course. In the US where a billionaire rules, it’s celebrated.

But employees rarely become truly wealthy. The rich generally get that way through risk and enterprise, or a trust fund. As the news above has spread – the French villa, the inherited wealth, the establishment marriage (McCain), the tax-avoiding corporate offerings, the lavish lifestyle, the $1 million salary, the failure to disclose assets to the ethics cops – Morneau’s message of everyone else being a cheat has rung hollow. It was crass, manipulative messaging intended to instill jealousy, anger and outrage among those who struggle to do things top leaders never consider – like paying the mortgage. Ottawa used base emotion for political gain. It failed. Plus it handed a gift to the hapless Cons.

Now Bill’s in damage control.

Monday’s meeting is expected to modify some of the proposals, especially on the tax treatment of money small business people retain to weather lean years or for retirement. Ottawa had proposed changes resulting in a 73% tax rate on withdrawals, which is enough to make a Norwegian blush.

Sexist proposals will also be addressed. By ending the ability of a husband and wife to split income from a business they co-founded and co-own, even when all the risk was familial, women were road kill unless they worked as employees, not in the home. Now it’s rumored female entrepreneurs will be allowed to retain money in a corporation for a potential mat leave, opening the door to a dangerous, gender-based system. (Sorry, gay guys, you can adopt a child on weekends and stat holidays.)

How much the feds backpedal is unknown since so much political capital was put into this destructive and divisive plan. The lack of understanding of why small business people are willing to take risks and create jobs and economic activity, how doctors are fairly compensated through corporations and provincial agreement, or the unfair tax benefit enjoyed by public servants is evident now. This can of worms should never have been opened. It was not about fairness. Just politics.

 Word has it Nav Bains may be the next finance minister. He’s an experienced MP. Smart guy. Young. And he’s cute. Take that, Jag.

242 comments ↓

#1 crowdedelevatorfartz on 10.15.17 at 11:26 am

Any word on when Trudeau’s personal advisor the “most intelligent man in any room” Gerald Butts will be getting the boot?

http://www.google.ca/url?url=http://www.macleans.ca/politics/ottawa/the-impressive-network-of-gerald-butts/&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwiVsOiN-PLWAhVPwmMKHYi2AsoQFghJMAk&usg=AOvVaw0h8GGJ1fiBP07DDgA6lTt2

#2 Randy Cross on 10.15.17 at 11:30 am

https://www.facebook.com/NoLibs2018and2019/photos/a.183276415056069.54428.183275355056175/1633989369984759/?type=3&theater

The Liberal Strategy is that a Large number of sheep can be herded by a Small number of Dogs.

#3 -=jwk=- on 10.15.17 at 11:31 am

Rules are rules.

They can be changed

Almost everybody plays by them

10,000 new sole employee zero risk business a year in Canada? that a lot of cheaters

Abruptly changing the playbook

Rules can be changed if they are being abused.

As I said before, I’ll make the switch if they don’t…

How can you say every new business is a ‘cheater’? Grow a brain. — Garth

#4 miscalculations on 10.15.17 at 11:35 am

Trudeaus’s deplorable moment.

#5 Denise#1 on 10.15.17 at 11:37 am

Bye-bye Morneau, don’t let the door hit you on the way OUT.
PS: Couldn’t you take your fellow elitist, inherited wealth, trust-fund baby, buddy Trudeau – with you? Pretty please?

#6 A Dollar is a Dollar is a Dollar on 10.15.17 at 11:43 am

It’s odd, Garth, to see you launch into the same sort of “ad hominem” attack here against Morneau and Trudeau that you decried so much in the comments of certain posters here this week.

Usually, I find we tend to resort to ad hominem arguments when we realize the core of our arguments has run out of steam and is not winning the day.

Or maybe you are out drinking with Smoking Man today?

Hardly an attack on either. It’s politics. Everyone sees your underwear. — Garth

#7 Debtslavecreator on 10.15.17 at 11:50 am

This LieBeral govt is a farce
Radical left wingers pretending to care about the masses
We need a complete and total tax overhaul. If done right we will cut down compliance costs for private business and enforcement costs will drop easily by 30-50%
1) eliminate 95% of all credits and deductions
2) income defined as ALL sources of income whether salary, dividends, cap gains, net rental etc
3) eliminate income tax on the first 50K for all
4) above 50-125 k pay 10%, 125-250 k pay 17.5 and above pay 22.5
5)incorporated owners pay a 10 % above 50k on all net profits with a passive investment tax of 17.5 % above 250k
6) after 3-6 months raise HST slowly over 12 months up to 20% to be shared between feds, province and municipalities- household income under 50k and or with kids under 18 get a 150-200 pre-bate Credit to offset HST
7) bank of Canada buys up govt bonds and cancels them
8) a health care estate tax on all Canadians who die taxes all assets including life insurance and joint accounts at no more than 10% with all money put into health care
9) no OAS above 50k income per person with age 67 to start
on maturity to slowly reduce interest expenses
This type of plan , at least a general move in this direction is NEEDED to try and save our nation and the social services we need
The tax code should not be more than 2-300 pages total

#8 FOUR FINGERS WATSON on 10.15.17 at 11:55 am

A cautions thumbs up on Nav Bains here. He has business and accounting degrees and he actually worked for Nike and Ford. So he has some actual qualifications for finance minister other than his race, religion, and gender. Unlike his boss Turdo.

#9 -=jwk=- on 10.15.17 at 11:58 am

How can you say every new business is a ‘cheater’? Grow a brain. — Garth

How can you think those 10,000 new business are all risk taking and deserved of the tax breaks associated with risk?

I win either way. The drop from 29% to 20.5% (when my wife and I start income splitting my salary ) is significant enough to go the small business route. throw in the lifetime SBS deduction, ability to hide capital gains and it’s a no brainer. Look for the 10,000 number to *soar* if no action is taken…

#10 Smoking Man on 10.15.17 at 11:59 am

Globalism gets a nice punch in the face by back benchers.

My VBA app that auto sent hundreds of nasty emails to all the liberal worked.

What they will do is probably make an exception for anyone grossing less than x

Patting myself on the back.
Dr Smoking Man
PhD Herdonomics

#11 Rental Monkey on 10.15.17 at 12:00 pm

What tax benefit public servants enjoy? I think I missed something specific.

Start here. Check out the author. — Garth

#12 miscalculations on 10.15.17 at 12:12 pm

The opponents are talking about ‘unfair’ not ‘cheater’.

#13 SCM on 10.15.17 at 12:22 pm

12,000 ladies (and some men) are losing their jobs at Sears shortly. NAFTA is about to get blown up. Trump wants those auto manufacturing jobs in the US, not Canada or Mexico. Can’t say I blame him. Automation coming on full stream about to blow up millions of jobs. The few factories that are left are shutting down. Millions of Canadians out of work. A part time temp nation. Screwed Canadian Millenials everywhere. Immigrants being exploited in slave like conditions. Real wages at zero or negative. Public and private debt through the roof. What is the elites’ answer to these very serious problems? To make those problems even worse.

Liberals prepare to reveal 2018 immigration plan they say will boost economy, help refugees
Critics say strategy must address global migration crisis and labour gaps across Canada
http://www.cbc.ca/news/politics/immigration-levels-2018-canada-1.4347339

I swear to god if anyone thinks there is a labour shortage in this country, they are completely mentally insane and need to be institutionalized ASAP. I’m dead serious. These people are mentally ill. They are seeing things that do not exist. I’ve never seen such a disconnect between the real world Canadians are living in, and the imaginary alternative reality that political elites are bs-ing.

If only we had proportional representation in this country, I would create a new party and run on 2 slogans. “It’s the wages stupid” and “Make Wages Great Again” Bill Clinton + Donald Trump. I’d throw in a little Hope as well. No trickle down bs. I would win and you boomers would be screwed big time.

Count your lucky stars and adult diapers that Dolce Vita sold me on Europe.

#14 Changing from Salaried to small business (consulting) on 10.15.17 at 12:27 pm

Finally decided to leave salaried job and move to consulting, don’t need to work for full year and pay taxes to the Government, but instead get all the benefits because of lower or no income bracket. I wish I had taken this step a decade ago where I was paying big portion of my salaried income in taxes and on top of that was not eligible for child tax benefits, free university education for kids, and hst/gst, etc. all now will be in my favor. Thanks to the Finance Minister who created such awareness by starting the tax study and now salaried people are realizing how much they are losing.

Nice trolling. — Garth

#15 Canuck on 10.15.17 at 12:29 pm

Garth,

Just a quick note to let you know I really enjoyed your post today. It was open, honest… and very accurate.

#16 Dee on 10.15.17 at 12:30 pm

I mostly agree with you here, but as far as the political process goes…isn’t this a victory for the people?

I mean, from reading your blog, we know Morneau had legislation ready to go, and these consultations were just a sham. But then they had them, and the people spoke loud and clear about the proposed changes, and now they’re being heard and the legislation rewritten.

Isn’t this how it’s supposed to work? Had they just ignored the messages they received in the public meetings — which were overwhelmingly opposed to this draft legislation — I would be right there with you, shouting them down. But they’re listening and making changes.

Is that not something to celebrate? The people (seem to have — we’ll know for sure after we see what comes out) won this round.

#17 Dee on 10.15.17 at 12:32 pm

Sorry to double-post, but I re-read my comment and I’m not sure I made my point well.

The whole thing went like this:
– the Liberals floated a bad idea
– the people told them: this is a very bad idea
– the Liberals are listening and making changes

This seems, to me, like how it’s supposed to work, right? I see so many articles mocking the Libs for listening/changing, but I’d rather this than them run roughshod over the populace and push bad ideas into law.

The repent may also be a sham. Wait and see. — Garth

#18 Rental Monkey on 10.15.17 at 12:49 pm

Thanks Garth!

#19 Will Everett on 10.15.17 at 12:53 pm

Immigration levels have been consistent at less than 1% of the population annually. Without it our natural population would decrease and economic activity along with it. Currently demographics are not our friend. For proof look at Japan, where immigration has been seriously restricted and the economy has been a walking disaster for three decades as the population ages. In any case, this is not an immigration blog and I will not tolerate comments trashing newcomers. It takes courage and drive to change countries. The lazy and feckless never try. — Garth

Japan is a walking disaster?

That’s racist. Do you know about Japan? I think not.

#20 A Dollar is a Dollar is a Dollar on 10.15.17 at 12:54 pm

Here’s a balanced summary response, see link below for many more details on why Morneau’s proposals are smart for Canada:

“These reforms are not an attack on the middle class – To significantly benefit from using those loopholes, a person would need to earn at least $150,000. In other words, those earning less than $150,000 will not be noticeably affected.

The research clearly shows that the wealthy are far more likely than a middle or lower income Canadian to own a private corporation and that the wealthy are far more likely to take advantage of these tax loopholes. Less than 10% of those with incomes under $51,600 had a significant interest in a private company. For the top 1 percenters about 50 percent own a significant interest in a private company and for the top 0.01% the number rises dramatically to almost 80%.

The reforms are not an attack on small business – Statistics Canada data shows a large majority of small business owners are earning less than $150,000 per year, and 2/3 are earning less than $73,000. Thus, most small businesses would not be noticeably impacted by the proposed changes. Small businesses will, however, continue to benefit from the regular lower small business tax rate, a significant $3.6 billion taxpayer subsidy.

People who use these loopholes are not tax abusers or tax cheats – This debate is about a poorly articulated and enforced tax structure that is being used for purposes it was not intended. The loopholes are being used legally and legitimately but are unfair. It is the government’s job to fix this.

Business owners will still be able to save for retirement – Existing passive investments will be grandfathered. Business owners also have access to the same RRSP/RPP/TFSA contribution limits (at 18% of income up to $26,000 a year) as everyone else. These are already disproportionately accessed by the wealthy and are heavily subsidized by taxpayers to the tune of $16 billion a year. It is not fair for business owners to be given extra subsidized retirement savings room (through passive investments) that their own staff and the average Canadian cannot access. If public pensions are not adequate, the solution is to improve pensions for all, not boutique tax treatment for a privileged few.
This does not penalize job creators – Active investment in business operations and employment is not affected. This does not penalize and, in fact, should help to incent employment. It refocuses the small business tax advantage on active investment, instead of channelling funds into passive investments such as real estate and stocks. According to Statistics data, only 47% of small businesses even had employees in 2011; hopefully that number will rise.

The reforms are not an attack on family farms – These reforms do not affect the $1 million lifetime capital gains exemption that is in place to facilitate the transfer of family farms.
Nor do the reforms reduce the ability of owners to make investments in their business – Active investment in machinery, equipment and employees is not affected. The change would just mean the businesses could not be used by the wealthy to pay lower taxes on outside investments.

Business and their employees can access CPP and EI – A business owner can choose to take their income in dividends or as a salary that would be eligible for CPP and EI. They may choose to take dividends to avoid paying the employer and employee share of CPP and EI, but that is their choice.

These private corporation tax loopholes are not the way to help small businesses make the leap at start up – Most new and struggling small businesses would not have enough income to make effective use of these loopholes. The lower small business tax rate is already there for all small businesses to make the start up easier and compensate for differences related to size at a significant taxpayer subsidy.

There is a broad range of other targeted taxpayer funded programs to help new businesses get out of the gates. The government’s business network grants and financing website lists 550 grants, contributions, financial assistance, loans and cash advances, loan guarantees, tax refunds and credits, and wage subsidies that businesses can access.

This is not a tax hike for small businesses – Small businesses continue to benefit from the lower small business tax rate, which will remain unchanged in these reforms. Canadian corporate tax rates are already amongst the lowest in the G7 while the small business rate is the lowest. One of the root causes of the abuse of the private corporation tax loophole is the big gap between the individual income tax rate, the corporate tax rate, and the small business tax rate. While some differential tax rates might be justified, this low small business rate may now be acting as a deterrent to growing businesses, resulting in fewer jobs being created.

The Reality: These Loopholes are Unfair

These tax loopholes are inherently unfair and bad for the economy – Research shows that these loopholes create rising numbers of economically inefficient businesses and worsen inequality in the distribution of income. Inequality is already dragging down economic growth and well being for all Canadians. These loopholes amount to potentially over $1 billion in lost revenues, money that is much needed for building the social and physical infrastructure that will keep our economy healthy.1 That money could be better spent funding universal childcare, allowing parents to participate fully as entrepreneurs, employees, producers and innovators.

We need broad universal programs to address concerns about insecurity – It is true that the self-employed don’t have pension plans, paid parental leave, mandatory vacation, and sick leave or disability benefits. However, increasing numbers of private sector workers are also denied access to these benefits as we see a shift in the public and private sectors to precarious work arrangements. This is reaching crisis levels, and will only get worse as the march of automation continues to eliminate and change jobs. Dividend sprinkling for a few is not the answer for lack of childcare and pensions for the many. We need a well-funded public pension program, we need universal access to quality childcare, we need substantial parental leaves for all workers and more. We need tax fairness, and we need tax revenues to pay for these programs.

These reforms may need tweaks but they should proceed – There are some valid concerns with the reforms being raised that may require some adjustments of the wording and implementation but it is important that the reforms proceed.”

(Go to this site to get the real truth about why we need tax fairness measures, as outlined above)

http://www.taxfairness.ca/en

Whether it is Bill or a new minister, we need this to go forward.

That site was built by the governing party. Think for yourself. — Garth

#21 conan on 10.15.17 at 12:59 pm

Not sold on the concept that Morneau has committed the political equivalent of “holdmybeer”

https://fat.gfycat.com/DetailedSleepyArchaeopteryx.webm

No one knows what the final report says.

#22 Stan Brooks on 10.15.17 at 1:02 pm

#9 Smoking Man on 10.15.17 at 11:59 am
Globalism gets a nice punch in the face by back benchers.

My VBA app that auto sent hundreds of nasty emails to all the liberal worked.

What they will do is probably make an exception for anyone grossing less than x

Patting myself on the back.
Dr Smoking Man
PhD Herdonomics
————————————

Did you have Eastern European/Serbean background?
with potentially traceable Russian ties?

That’s what I though, T2 and Wild Bill can now claim that the Russians hacked their tax fairness plan…

On another hand, by appointing a representative from a visible racial and religious minority it seems they/the liberals and the think tanks behind them insist
(so any attack against policy is presented as attack against race and religion) on continuing with their business tax adventures/assault on small businesses.

One thing that kills liberal think tanks – they think they are smarted then the rest, above the law.
When derailed, they start whining and blaming others for their failures.

The days of promoting divisive artificial policies based on non-existing gender and racial or religion discrimination in order to gain political advantage, gain popularity and shut down any opposition are over.

Try more fluoride in the water and brainwashing at school.

T2 and BM should resign.

#23 Fuzzy Camel on 10.15.17 at 1:06 pm

Gender based taxation, Canada has lost it’s mind.
This is blatant sexism at it’s finest. Time to identify as a woman.

When Trump passes his tax bill, rates start going up each month, our economy will tank badly. Good to see Trudeau will get most of the blame. He will be the most hated person in 2 years if Trumps tax bill passes.

Every manufacturing plant and small business that can go south will go south. The suckling noise of the tax base leaving will be unmistakable.

Seeing the true face of feminism, what Trudeau is proposing, feminism is blatant sexism in favour of woman. He could easily off a tax rebate for female entrepreneurship courses, but nope, have to punish those evil male business owners. They are the face of hate, they hate any male who works hard and is successful. It’s easy to get women into STEM and running a business, offer a tax rebate for training!

#24 Stan Brooks on 10.15.17 at 1:07 pm

#18 A Dollar is a Dollar is a Dollar on 10.15.17 at 12:54 pm

Troll on government payroll?

If you and your bosses are about fairness, how about:
1. start paying both employee and employer portions of your CPP as smal business do? 10 % instead of 5?

2. how about giving up these sweet government pensions or get taxed on the government contributions, including benefits and health plans, vacation, sick days?

#25 Victor V on 10.15.17 at 1:09 pm

Don’t know if this is permanent, but another website showcasing GTA real estate stats has been taken down. Potentially another strike against transparency?

https://toronto.listing.ca/detached-home-price-history.htm

https://webcache.googleusercontent.com/search?q=cache:EBZjr62ueqYJ:https://toronto.listing.ca/detached-home-price-history.htm+&cd=1&hl=en&ct=clnk&gl=ca

#26 SCM on 10.15.17 at 1:11 pm

DELETED

#27 Damifino on 10.15.17 at 1:18 pm

#5 A Dollar is a Dollar is a Dollar

It’s odd, Garth, to see you launch into the same sort of “ad hominem” attack here against Morneau and Trudeau that you decried so much in the comments of certain posters here this week.
———————————-

Please state, specifically, what you read in today’s post that was ad hominem and not based on fact?

#28 Guillaume on 10.15.17 at 1:24 pm

The contribution from the employer (city) to the Municipal pension plan is 1/3 of all the taxes paid in my little town, if you ad the paid leaves that amount goes up to 50% of all the taxes paid to the city by any property owner.
I don’t think this is sustainable but you can’t talk about that or you will be treated as a jealous bastard. Does someone here knows why commercial buildings are taxed twice or tree times the amount comparing to a residential property ? Thanks

#11 SCM You are wrong again
There is a a lot of labour shortage in Canada :
http://www.cbc.ca/beta/news/canada/edmonton/jasper-jobs-tourism-national-parks-1.4195824

Also in the fruit picking/farming where a lot of motivated Mexican workers do a great job that no one else want to do around here.
No kitchen without Aussies, french, foreign young people that mostly stay two years, after that we just keep the more motivated… The losers get back where they come from… A lot of Filipinos are also required for senior care and the health industry, and again for doing the job only a few Canadian people would take.

To stop the immigration process I guess every Canadian woman should do at least three kids and make sure they study or work in a needed field.

Speaking about the refugee numbers (they are not immigrants) it is a drop compare to the skilled workers, investors and entrepreneurs programs that will bring more wealth to Canada. Immigration is an industry and not an obsolete one, it creates a lot of growth and wealth around here.

I am a recent European immigrant (5 years), I wish you good luck for your migration to the overcrowded old world, you will tell us how easy you find a job there where unemployment levels are much higher than in North America ! M46BC

#29 Stan Brooks on 10.15.17 at 1:24 pm

Throw another minister on the bonfire: the ballad of Bill Morneau

http://www.macleans.ca/politics/ottawa/throw-another-minister-on-the-bonfire-the-ballad-of-bill-morneau/
——————————-

The reverse Robin Hood who takes from the middle class and gives to the rich.

#30 SCM on 10.15.17 at 1:26 pm

What was wrong with that Garth? Really cmon man. Let me know which part you objected to and I’ll edit it. A little too much truth and reality? I chose my words very carefully and there was nothing there that was offensive. I urge you to reconsider.

You linked a xenophobe whose words are not welcome on this site. — Garth

#31 TurnerNation on 10.15.17 at 1:32 pm

Cuba is the model for Canada’s future.

Some pointers:
– Both T’s love that dictator.
– Ontario rolled out minimum (cough, maximum) income scheme.
– Health care for all.
– TAX private clinic doctors out of business, allow State employed ones only. (I read this idea elsewhere..).
– Ontario rolling out free college/university education credits.

In short a healthy well educated population of poor slave workers, with an income barely sustaining.
Si. Come visit.

(Cuba graciously also hosts a US military base. Hint: there is no us and them, only a layers of elites playing war using our money.)

#32 Andrewski on 10.15.17 at 1:48 pm

Re: #10, Garth’s link to article author is…

http://www.morneaushepell.com/ca-en/fred-vettese

#33 Reduce corporate Tax on 10.15.17 at 1:49 pm

Reduce corporate tax. so they will manage your kids life.

Tim Hortons logos on the wedding tux? Couples hit up sponsors to subsidize their big day
http://www.cbc.ca/news/business/wedding-sponsorship-crowdsourcing-1.4354346

#34 mortgageman on 10.15.17 at 1:51 pm

hey screwed millenial, why are you still posting an mentioning boomers again?

were you not going to stop doing that?

go away.

#35 AB Boxster on 10.15.17 at 1:53 pm

The corrupt Liberals almost lost Canada in the 70s and 90’s because of their divisive policies.

At least T2 was not stupid enough to divide along gender and wealth lines.

The current Liberals are just as corrupt and brainless.

After spending $200,000 on the cover of the last budget document, to explain how the budget will balance itself, they have now publicly gone after entrepreneurs and small business owners, family farms, and the entire energy industry.

This brought to you by the most wealthy and entitled PM and Finance minister the country has ever had.

The arrogance, hypocrisy and corruption is now exposed.

Without even trying the Conservative party is now equal to the Liberals in the polls.

Where there are thousands of well educated engineers, geologists and technical people unemployed in Alberta, Canada is being run by a former drama teacher with the right name, and a guy who was left a pile of money by dad and married into the potato empire.

Give me Trump any day.

#36 Yuus bin Haad on 10.15.17 at 1:54 pm

I ran into Bill at one of the cottages yesterday where he was cleaning up a mess of poutine that had just spilled. “Don’t worry.”, he said, “There’s more in the freezer.”

#37 Chaddywack on 10.15.17 at 1:57 pm

I’m glad the shine is finally coming off Trudeau. He’s a complete moron and Harper was right he was “just not ready.”

I still can’t believe how many people were fooled by his pie in the sky BS.

Maybe they were all high when they voted? After all, free weed and all….

#38 bob on 10.15.17 at 1:58 pm

@ #18 Dollar is a Dollar is a Dollar
those earning less than $150,000 will not be noticeably affected.

This statement alone made you and the original author (i.e. the government) lose all credibility. And that was the start, so I didn’t even bother reading in detail the rest of what was posted.

I’ll give you a thought exercise. One year, I made 30K. The year before, I made $120K. The year after, I made 90K. I pay myself a salary of 75K each year for living expenses, the rest go into retirement.

Think for yourself. Do that math. If I leave any money in the corporation, the investment gains will now be taxed at 73%.

Seriously, just do the math before spewing. At least that UBC Kevin guy did the math, but he assumed that a person would make $150K like a salaried person every year. Business has good years and bad years.

#39 diharv on 10.15.17 at 2:06 pm

Bill moreau is NOT toast . Most DID swallow the propaganda . Trudeau’s voting base , which is not the business community , did embrace the fairness scheme ( like the poor did to Chavez in 1999 in Venezuela so appealing to the overwhelmingly majority masses at the expense of the intelligent and entrepreneurial is a play that T2 emulated ). The deliberate creation of class conflict worked brilliantly in its execution but yes the backlash was worse than expected . I think it will take more than a fort in the south of France and business conflicts of interest to make the guy resign . Look at the leader to the south and toss in in his various perversions . Teflon . He’s not going anywhere . This “fairness ” crap is the core of T2’s socialist agenda . He has they will not back down and it will go through , this one he seems passionate about ramming through. I hope I’m wrong , maybe it will be watered down a bit but I can’t see a full retreat happening . He’s stubborn enough to make this the issue upon which he is ship will either sink or sail.

#40 arfmoocat on 10.15.17 at 2:20 pm

Funny you don’t see anything about Bill Morneau on any news. Were talking everything from California to Somalia.

#41 MF on 10.15.17 at 2:22 pm

#10 Rental Monkey on 10.15.17 at 12:00 pm
What tax benefit public servants enjoy? I think I missed something specific.

Start here. Check out the author. — Garth

-The post today highlights the flaw of trying to play division politics. The “us vs them business owner vs employee” angle was a failure because Canadians were too smart to fall for it.

Hopefully we are also too smart to fall for the stupid private vs public theme slithering its way onto this blog.

From the article:

“In ancient Roman times, the emperors looked to the Praetorian guards for their personal protection. To ensure their loyalty, the emperor granted the Praetorians special privileges, including a shorter period of mandatory service and higher total compensation than what the “market” required. It seems not much has changed in 2,000 years.”

I don’t know what this guy is smoking, but I am damn happy our police officers, border officers, political officials and the like are loyal to our country and not who ever can buy them off.

Moreover, public servants have to carry out whatever stupid policies our elected officials come up with, whether they believe in them or not. To believe our entire public sector is one uniform voting bloc is simply delusional.

MF

#42 HaHaHa on 10.15.17 at 2:26 pm

Really????? This is news now about Morneau and Trudeau being self serving trust fund elites? Well Canada chose these 2 greasy trough pigs and there are liberal idiots that will still defend these morons. Harper was a facist blah blah blah. But I will say pot stocks has done me well. See liberals…. even a conservative will make money off your idiot P.M.

#43 X on 10.15.17 at 2:28 pm

Start here. Check out the author. — Garth

Ironic….probably would have gained more public sentiment had Bill listened to him.

Went down the wrong road with the small business tax route.

Lots of votes lost…maybe for good. Even if you don’t own a small business, your likelihood of voting for the guys that basically ensured you don’t get a raise next year won’t help either.

#44 crowdedelevatorfartz on 10.15.17 at 2:29 pm

@#24 SCM
DELETED
**************

Gee.
A whole 2.5 days until you reverted to your norm.

Boomer bashing?
An itch you just have to scratch?

#45 MF on 10.15.17 at 2:30 pm

#11 SCM on 10.15.17 at 12:22 pm

“Count your lucky stars and adult diapers that Dolce Vita sold me on Europe.”

-You got that right. Please go as soon as you can.

Say hi to all the million plus migrants in your utopia when you arrive. There must be a huge labour shortage in the EU right now.

MF

#46 Stone on 10.15.17 at 2:31 pm

#59 unbalanced on 10.15.17 at 10:13 am
To Stone . In one of your posts you state 7 figures! Now you ask for guidance and hand holding. What gives? Maybe you are a b-ss-er.

——

No one is an island. Or should be. I’ve previously stated that I have many people to thank for where I’ve gotten to and am more than happy to pass that on to others. Asking for an opnion is not hand holding. Getting the perspective of others when making a decision on something important is not something that should be disparaged. Taking this approach would probably have saved many a person a lot of grief buying real estate at peak, penny stocks, etc, etc.

Whether you believe I have what I have isn’t relevant.

You’re entitled to your opinion. Would suggest a wider range of gray though versus just black and white. Ultimately, don’t be jealous. Just go out and catch up to me or surpass me when it comes to your portfolio. I’m happy for everyone who makes the effort as well as those who succeed. It’s not a zero sum game.

#47 The Great Gazoo on 10.15.17 at 2:32 pm

“Start here. Check out the author. — Garth”

Thanks for that Link. Excellent article.

I plan to send a note to my MP with a link to this article and ask him to tell me where the Liberal government stands on this issue and what if anything they are going to do. I know the response I will get, but need to communicate where one stands – and eventually over time hopefully we will see some change that creates more fairness.

In my view the current Federal pension plans are excessively generous compared to what is available in marketplace for the rest of us.

#48 2 Cents Canadian on 10.15.17 at 2:42 pm

These tax rules have been the same for many years ….. they are 100% legit and legal. I agree not every salaried employee could use them ….. but the alternative is to start your own company (with zero safety net). Then IF you make some decent profit you could use those tax perks to put away a little more. But these weren’t super secret rules. They have been around for years and every decent accountant knows how to set them up and use them. If some of you didn’t go for the $169 H&R Block cheapy tax return special and pay a little more for good tax advise, you could save tens of thousands maybe hundreds of thousands over a life time.

#49 SCM on 10.15.17 at 2:48 pm

Syrian refugees fear what lies ahead as government-sponsored year runs out
http://www.cbc.ca/beta/news/canada/syrian-refugees-one-year-later-1.3871588

By: Susan Ormiston (not a xenophobe)

Maybe we should help these people first, before adding more? Is that so crazy to say? Sorry, very sorry. Pardon me. Excuse me. That’s not racist to say.

I seem to be the only one who actually cares about the plight of these people, yet I’m the foreigner-hater? I don’t think so. I actually volunteer every week at a food bank in Toronto, and I see first hand the immense struggles that immigrants and refugees face in this country. Not to mention the Canadians who are left behind and forgotten. I deal with refugee mothers crying that they don’t have enough food for their young children and begging for an extra can of tuna, that I’m not supposed to give because the food bank’s resources are already stretched so insanely thin, but I can’t help it so I sneak it in her bag. It’s heartbreaking and it’s getting worse.

Then I have to listen to politicians living in a la-la land alternate reality and deal with being labelled a racist or white nationalist.

Maybe Canada should try getting it right with the hundreds of thousands of refugees we’ve already taken in, before adding more?

This is not an immigration blog. The thread is over. — Garth

#50 A Dollar is a Dollar is a Dollar on 10.15.17 at 2:51 pm

Garth, about my post #18 citing the group Canadians for Tax Fairness, you stated:

“That site was built by the governing party. Think for yourself. ”

I do think for myself. I have conducted many secondary searches on this group and its membership. I don’t see any red flags of substantial political involvements at all.
Compared to the Fraser or Manning institutes, these guys seem quite untainted. Of course, they are linked with more centre-left ideas and groups as one might expect, but let’s take on the ideas, not the people.

From their site:

“Canadians for Tax Fairness is a not-for-profit, non-partisan organization advocating for fair and progressive tax policies aimed at building a strong and sustainable economy, reducing inequalities and funding quality public services.

C4TF was founded in 2011 by a broad coalition of economists, researchers and social justice advocates drawn from civil society groups. They represented faith, labour, international development and community organizations, as well as academia and law. These individuals were united by a shared desire to steer Canadian tax policy back to what matters: addressing social, economic and environmental challenges.”

http://www.taxfairness.ca/en

Isn’t your dismissal of this group’s information kind of fake news, Garth?

Sort of another “ad hominem” attack, not dealing with the content but arguing that they are bad because of a political association you allege which imputes bad character?

Substance, please…….and be prepared to be transparent about all your own potential biases and conflicts if asked.

#51 MF on 10.15.17 at 2:52 pm

#36 diharv on 10.15.17 at 2:06 pm

4/10 Canadians voted for these idiots. If it were to become 3/10, it might mean they might lose their status.

The Conservatives have to run with this and be on the offensive as soon as they can.

T2’s core constituent is basically under 25 students, women, immigrants (who might be voting for Jagmeet now), and then a whole host of less successful people (pot heads, minimum wage workers etc.).

Let’s hope that all these charges against Morneau show these groups how they have been lied to by these closet elite Liberals.

It could be a game changer.

MF

#52 diharv on 10.15.17 at 2:53 pm

I thought this screwed Canadian Millennial was banned . Looks like he’s only heavily edited . Just keep him off for a few months , 100% , no trace . Or let him stay and say what he likes . Right now he’s like Bandit if you keep pulling out a T-bone and wave it in front of him and then put it away and don’t let him have it . Desperate pleas and whining .

#53 Lefty on 10.15.17 at 2:59 pm

Spot on today Garth.. Excellent analysis.

Sent from my Italian Villa

#54 rknusa on 10.15.17 at 3:02 pm

so the Liberals will just push down the target for revenue to those making 35 to 75K a year

count on it fees fees and more fees

#55 conan on 10.15.17 at 3:03 pm

#1 crowdedelevatorfartz on 10.15.17 at 11:26 am
Any word on when Trudeau’s personal advisor the “most intelligent man in any room” Gerald Butts will be getting the boot?

Probably never. I met him once, while skiing in Dubai.

#56 HaHaHa on 10.15.17 at 3:05 pm

THE RAILROAD IS HIRING……. SCM…. That is where the job shortage is. Db pension. stock options. Potential to make 100 grand a year. Grade 12 education. There are downsides. Like putting up with managers, on call, pressure to perform, unions. You might get dirty. This boomer wants to retire. So help me out. Apply so I can get consent to take my pension. I am tired of making 140 grand a year. It would probably take 5 of you lazy whiners to replace me so tell your friends too. Your welcome

#57 SCM on 10.15.17 at 3:12 pm

DELETED

#58 Stan Brooks on 10.15.17 at 3:23 pm

#37 diharv on 10.15.17 at 2:06 pm

Of course they will proceed with their tax assault on small businesses. In one form or another.

This is not about fairness or revenue but about control.
They want you to fear their arbitrary rules and live in uncertainty, then you are easily controlled.

It is an elitist agenda.
All the T2 stunts – supposed fight for equality and gender rights in one of the most tolerant country in the world, now this tax fairness nonsense, tomorrow something else, all serve hidden agenda pushed by T2 and Will Bill handlers.

T2 and Wild Bill are just the actors (bad), they do not come up with these ideas on their own.

—————————
#43 MF on 10.15.17 at 2:30 pm

You are disgrace for all Canadians and have no right to speak on our behalf.

#59 SCM on 10.15.17 at 3:27 pm

Ok Garth. Why did you delete my request to HaHaHa asking for more information?

It’s not a dating site. — Garth

#60 Jay on 10.15.17 at 3:30 pm

I’m tired of your whining. As a family my wife are in the upper middle class, but you think since I work for a company I should pay much higher taxes then you because you are an entrepreneur and taking on risk. That is a fallacy, I or my wife could lose our job at anytime we have risk in our life too and we should pay a similar tax rate as you.

Well I agree Bill is a bit of an idiot, and privileged this tax loophold needs to be closed. Now the next step is to addresse trust funds and other tax shelters.

Remember what the liberals are closing is a loophole that the conservatives created in the last 15 years

I hope all the wealthy people therapist about this and spending all their time and media capital on this don’t win or nothing will ever change.

Cheers

#61 SCM on 10.15.17 at 3:33 pm

I’m off to the TFC game. I’ll catch u boomers later. Garth is being mean today.

#62 Stan Brooks on 10.15.17 at 3:34 pm

http://www.cbc.ca/news/politics/revenue-canada-employee-benefits-tax-1.4348076

Can you be hold liable (criminally and financially) for not including the few slices of Pizza that you gave your employees when working late or at a corporate party on their T4 forms?

Is this the (T2) country you would like to live in?

Did T2 and BM include their lunches and dinners on their T4 forms?

Who paid BM’s airplane ticket to the World economic forum conferences?

#63 RR on 10.15.17 at 3:35 pm

#52
THE RAILROAD IS HIRING……. SCM….

Lemme guess, CPR needs a new IT department?

https://tech.slashdot.org/story/17/10/13/1827231/it-admin-trashes-railroad-companys-network-before-he-leaves

#64 Stan Brooks on 10.15.17 at 3:36 pm

BTW can we see T2 and WB Tax documents?

Should they not be public?

#65 Stan Brooks on 10.15.17 at 3:41 pm

#56 Jay on 10.15.17 at 3:30

Sure, how about start paying immediately and volunteerly 10 % CPP instead of 5, taxes on all benefits that you receive including sick days, insurance, drugs, medical, dental, courses, pension contributions by employer etc.

MB will love it.

#66 Stan Brooks on 10.15.17 at 3:43 pm

#56 Jay on 10.15.17 at 3:30 pm

And you think your RRSP is safe? Hahahaha

#67 Victor V on 10.15.17 at 3:48 pm

Jordan Peterson’s message for Millenials, including those that are screwed:

https://www.youtube.com/watch?v=nr9bVe68OZM

#68 Ray Skunk on 10.15.17 at 3:52 pm

Well, you’d think he’d be toast.

You would also think that the Ontario Liberals would be toast after pissing away $1,100,000,000 of the public’s money to save their own hides.

But they survived. With a majority. Gerald Butts was all over that one, too.

When the Liberals control the education and media outlets, any outcome is possible. Usually the one that favours them.

#69 Stone on 10.15.17 at 3:59 pm

Hardly an attack on either. It’s politics. Everyone sees your underwear. — Garth

——

That’s the piece of those going into politics I don’t get. It’s a very public role. Your past is easily open to scrutiny so make sure it’s squeaky clean or at least declare any ghosts in the closet before the vote occurs so that no one can point the finger thereafter. If you make all your declarations to the Ethics Commissioner, you’re good.

Morneau doesn’t seem like a dumb guy. A bit arrogant yes but not stupid. On the other hand, why did he go open himself up to all this? Now, he just looks like a fool.

When I was a teenager, I wanted to be rich and famous. Looking back, I just want to be rich. I’d pick privacy over fame and notoriety any day. That’s why I like this blog so much. I get to express my thoughts on topics I enjoy, lots of people read them (some like what I write, some don’t, and some don’t care and it’s all good), and I get to maintain my privacy. Fame and publicity is overrated.

One of the only ones who seemed to master it was Jean Chretien. If I remember it right, they called him the teflon man as nothing stuck to him.

#70 crowdedelevatorfartz on 10.15.17 at 4:02 pm

@#52 Conan
“I met him once, while skiing in Dubai”

++++++

Was Gerald Butts the most intelligent skier on the Hill? Because I’ve heard that he’s damn smart.
Smarter than 99.99% of the human race.
So smart in fact that…. he knows what’s best for everyone..
And by God, you’ll learn to like it.

#71 Gardenmaven on 10.15.17 at 4:07 pm

Dear Garth: I don’t usually get to the end of skimming through the comments. Yikes: Don’t know how you stomach most of your commenters. What a depressing bunch! Thanks for what you do.

#72 Elite but not racist on 10.15.17 at 4:10 pm

Hi SCM, welcome back. You sound like a racist, an ageist, anti freedom, and greedy for what you can’t get.
You try to hide this by siting over articles, or generally making crap up.

Instead you come here and call people names, blame immigrants, blame older people, blame wealthy people.
It seems that you look everywhere for fault – except the mirror.

Immigrants aren’t slaves in this country, I employee 3. They don’t get paid a lot – about $40k a year, plus bonus and benefits. They struggle with English – paid for ESL classes myself. They are really happy to work here.

Everyone knows you get off on firey statements.
We laugh at you. You don’t have crediability.

Do you realize that?

#73 JR on 10.15.17 at 4:16 pm

Thanks for the link Garth: “If proposed tax rules are about fairness, federal civil servants should be next”

It is about time we started addressing the two-class system that has been created–Federal Govt Employees and everyone else. If a great defined benefit pension and astounding benefits are rights for civil servants, then don’t we all deserve them? (Of course, there is the little issue of how to pay for these things…)

#74 MF on 10.15.17 at 4:24 pm

#55 Stan Brooks on 10.15.17 at 3:23 pm

“#43 MF on 10.15.17 at 2:30 pm

You are disgrace for all Canadians and have no right to speak on our behalf”

-This coming from the guy who comes on here day after day to tell us all about how bad Canada is.

I don’t think I’ve read one positive post from you. Ever.

MF

#75 Keith in Rio on 10.15.17 at 4:25 pm

Word has it Nav Bains may be the next finance minister. He’s an experienced MP. Smart guy. Young. And he’s cute. Take that, Jag.

————————–

Yeah, but,…………does he have better hair than Trudeau ?

#76 Keith in Rio on 10.15.17 at 4:27 pm

#69 Elite but not racist……..

Immigrants aren’t slaves in this country, I employee 3. They don’t get paid a lot – about $40k a year, plus bonus and benefits. They struggle with English – paid for ESL classes myself. They are really happy to work here.

——————-

Key words here………..”they don’t get paid a lot”.

How much would you have to pay caucasians if you were not exploiting immigrants eh?

A ‘caucasian’ can’t be an ‘immigrant’? You are some screwed up, boy. — Garth

#77 Stone on 10.15.17 at 4:31 pm

#67 crowdedelevatorfartz on 10.15.17 at 4:02 pm
@#52 Conan
“I met him once, while skiing in Dubai”

++++++

Was Gerald Butts the most intelligent skier on the Hill? Because I’ve heard that he’s damn smart.
Smarter than 99.99% of the human race.
So smart in fact that…. he knows what’s best for everyone..
And by God, you’ll learn to like it.

——

I think he’s the true puppetmaster and I say that in a very complimentary manner. And since he only remains in the background, no one pays him direct attention. Smart? Yes. Genius? I’ll have to say another yes. If he was taking on an apprentice, I’d apply. It would probably be an eye opening experience.

#78 technical analysis? on 10.15.17 at 4:50 pm

i should take the day off work tomorrow and buy a few dozen eggs to throw at those two losers tomorrow. at least they’ll be gone and won’t be blocking traffic when i roll in… jerks..

#79 VICTORIA TEA PARTY on 10.15.17 at 4:53 pm

SILVER SPOONS AND ARROGANT SNEERS

…give our federal pols the royal gears.

St. Garth of “Come What May” is right again by gar by gum.

The Divine Right to Rule Party now finds itself in a bit of a pickle, no? Where to from here as the next election looms?

Some issues need to be properly “dealt” with:

First: the NATFA nonsense. Anybody with only the slightest grasp of what’s going on, knows this deal (as envisioned by our betters) is sunk.

Where are all those advertised federal Liberal government “heavyweights” who were dragooned into sitting down with a bunch of wild-eyed Yankee Traders looking only to satisfy their own special interests?

What have those Ottawa-based bozos accomplished? Nothing. They are not heavyweights. They have no weight at all, especially their trade minister Ms. Whatzit.
All at sea in a beautiful pea-“green” boat.

Then late last week there was our PM sitting in President Trump’s Oval Office looking like he didn’t have a clue about what lies ahead.

He ALSO wanted NAFTA to cover gender rights! What the hell! Details were never spelled out. A sop to a small local special interest group is what that’s about. It’s a vote-buying scam.

So, about to go down are 22-plus years of trading arrangements into the briney deep because our side doesn’t have the guts to say “no” to the Yanks.

A bunch of easily-folding cheap Canadian-made suits will be homeward-bound from somewhere in Virginia tomorrow or whenever, with nothing to show.

Second: the income tax changes business.

I hope Garth is right that the finance minister will be fired and re-assigned.

But sacked by whom?

By a PM who still looks like he doesn’t take his job seriously for reasons of which I know not, other than it will not make any personal financial difference if he’s canned in ’19. Right?

Third: so we slide into autumn and winter with all that AND the real estate industry facing changes it sorely wants to avoid.

Meanwhile the new NDP leader continues to strut about as if the next Prime Ministership “belongs” to him simply because of his heritage. It does not.

In Calgary tomorrow, a potential electoral earthquake, the civic elections which deserve close watching.

Will the incumbent Muslim mayor be re-elected?

Or will voters plump for Bill Smith, a Conservative party functionary and long-standing Alberta resident?

I think the latter.

That would have repercussions across Canada’s political future because such an outcome will be challenging the Leftie scourge that has been pillaging this country: Alberta/BC/Ottawa.

Meanwhile President Trump keeps sticking it to long-established “ways of doing things” across the world, to what ends I know not. “My way or the highway” is his theme.

Regardless, this all impells one to watch a lot of TV these days!

#80 HaHaHa on 10.15.17 at 5:01 pm

CN Rail, they have a website. And you youngsters are tech savvy? Look up current openings…….ssshhhh. Just quit saying there are no well paying jobs.

#81 Karma on 10.15.17 at 5:01 pm

“Word has it Nav Bains may be the next finance minister. He’s an experienced MP. Smart guy. Young. And he’s cute. Take that, Jag.”

In what world is that guy cute? If anyone in a turban is “cute”, it’s Harjit Sajjan. He’s the best looking of the bunch.

#82 Doug t on 10.15.17 at 5:06 pm

Bill ya shmuck – you are done one peachy asshat

#83 Porsche on 10.15.17 at 5:20 pm

#77 HaHaHa on 10.15.17 at 5:01 pm
CN Rail, they have a website. And you youngsters are tech savvy? Look up current openings…….ssshhhh. Just quit saying there are no well paying jobs
……………………………………………………………………….

Fellow college just scored a well paying job with CN rail.
A rail conductor or something… counts cars, sends them out on the right tracks.

They asked him where he wanted to work out of 3 choices in Alberta. He picked Jasper, a resort town in the mountains.

#84 I believe everything on television on 10.15.17 at 5:20 pm

#64 Victor V on 10.15.17 at 3:48 pm
#64 Victor V on 10.15.17 at 3:48 pm
Jordan Peterson’s message for Millenials, including those that are screwed:

https://www.youtube.com/watch?v=nr9bVe68OZM’s message for Millenials, including those that are screwed:

https://www.youtube.com/watch?v=nr9bVe68OZM


Jordan Peterson is full of crap. Instead of ‘dont’ be a damn victim’ better advice would be ‘beware of predatory victims’ or ‘don’t confuse victims with vicsims’
Jordan Peterson stands in front of students analyzing the minds of ‘columbine shooters’, spare me. Attention students, all school shootings- columbine, dunblaine, port arthur were staged events. Listen to Jordan Peterson and millennials will be doubly screwed

#85 I love scm on 10.15.17 at 5:22 pm

Immigrants aren’t slaves in this country, I employee 3. They don’t get paid a lot – about $40k a year, plus bonus and benefits. They struggle with English – paid for ESL classes myself. They are really happy to work here.

——————-

Key words here………..”they don’t get paid a lot”.

How much would you have to pay caucasians if you were not exploiting immigrants eh?

A ‘caucasian’ can’t be an ‘immigrant’? You are some screwed up, boy. — Garth

****************

I am pretty sure (you too) he was referencing Canadians vs tfw salaries. In that case he has a great question.

#86 PastThePeak on 10.15.17 at 5:39 pm

I told you that SCM isn’t likely to last long. A couple days in, and multiple deleted posts and showing an inability to discuss a topic which is not immigration or boomer bashing (note: I am not a boomer:).

Just give it a few more days…

#87 Vampire studies gmst on 10.15.17 at 5:39 pm

57 Jay – the small business owner may not pay less taxes than you as you and your spouse split the household income. Also, you are more diversified than the SBO if you work for different employers.

Picture keeping your savings in your business for possible expansion.
And pledging your house with a personal guarantee.

Now something goes wrong and you lose your job, your house and your savings.

Any clearer now?

#88 gf on 10.15.17 at 6:02 pm

Is D’Sousa secret agent spilling secrets of our society south of the border?
https://www.youtube.com/watch?v=HIA7EVnVDy0

#89 Millenials on 10.15.17 at 6:20 pm

The end of the Petrodollar. Significant implications. Conclude for yourself.

https://www.cnbc.com/amp/2017/10/11/china-will-compel-saudi-arabia-to-trade-oil-in-yuan–and-thats-going-to-affect-the-us-dollar.html

#90 Andrew Woburn on 10.15.17 at 6:22 pm

Andy Yan, adjunct professor in urban studies at Simon Fraser University, says the issue isn’t whether people are coming to Vancouver, but whether they will want to stay. He analyzed census data from 2006 to 2016 and found a 13 per cent drop in 40 to 44 year olds in Vancouver. When he broadened his analysis to 35 to 44 year olds, he found a total 9-per-cent drop in the city proper.

“We talk about the missing middle in housing, but we’re actually missing the middle-aged demographic, particularly in the city of Vancouver,” Mr. Yan says. “We’re not losing the young millennials, but we are losing those who are their mentors and supervisors. The question is, how do you build and nurture an innovation economy if you don’t have that demographic?”

This is of course precisely the demographic that would normally be buying houses from retirees.

“Vancouver’s middle-aged exodus raises concerns about city’s economic future”

https://beta.theglobeandmail.com/real-estate/vancouver/vancouvers-middle-aged-exodus-raises-concerns-about-citys-economic-future/article36585479/

#91 Andrew Woburn on 10.15.17 at 6:30 pm

I think I was a Millennial before they were even born. If I recall what people said about Boomers, we weren’t very different at the same age.

Terrifyingly for Gen Y, they will become us. It’s called Life.

– What everyone gets wrong about “millennial snowflakes”

http://www.bbc.com/capital/story/20171003-millennials-are-the-generation-thats-fun-to-hate

#92 Howard on 10.15.17 at 6:31 pm

#11 SCM on 10.15.17 at 12:22 pm
12,000 ladies (and some men) are losing their jobs at Sears shortly. NAFTA is about to get blown up. Trump wants those auto manufacturing jobs in the US, not Canada or Mexico. Can’t say I blame him. Automation coming on full stream about to blow up millions of jobs. The few factories that are left are shutting down. Millions of Canadians out of work. A part time temp nation. Screwed Canadian Millenials everywhere. Immigrants being exploited in slave like conditions. Real wages at zero or negative. Public and private debt through the roof. What is the elites’ answer to these very serious problems? To make those problems even worse.

Liberals prepare to reveal 2018 immigration plan they say will boost economy, help refugees
Critics say strategy must address global migration crisis and labour gaps across Canada
http://www.cbc.ca/news/politics/immigration-levels-2018-canada-1.4347339

I swear to god if anyone thinks there is a labour shortage in this country, they are completely mentally insane and need to be institutionalized ASAP. I’m dead serious. These people are mentally ill. They are seeing things that do not exist. I’ve never seen such a disconnect between the real world Canadians are living in, and the imaginary alternative reality that political elites are bs-ing.

If only we had proportional representation in this country, I would create a new party and run on 2 slogans. “It’s the wages stupid” and “Make Wages Great Again” Bill Clinton + Donald Trump. I’d throw in a little Hope as well. No trickle down bs. I would win and you boomers would be screwed big time.

Count your lucky stars and adult diapers that Dolce Vita sold me on Europe.

———————–

SCM, who did you vote for in the 2015 election?

#93 waiting on the westcoast on 10.15.17 at 6:34 pm

It will be interesting to see if the proposed tax changes go through, how much of an effect it will have on the real estate market.

It has been shown now that much of the issue in the US was your middle class and wealthier classes overextending themselves on housing that led to the crash in 2008-09 (as opposed to initial speculation that Ninja/low income loans were the reason).

#94 TRUMP on 10.15.17 at 6:36 pm

Roast those bastards.

#95 waiting on the westcoast on 10.15.17 at 6:42 pm

Yellen still see rate rise coming… Inflation expected to pick up shortly…

https://www.cnbc.com/2017/10/15/fed-chair-janet-yellen-sounds-upbeat-note-on-economy-and-inflation.html

#96 Tim on 10.15.17 at 6:49 pm

I hope he taxes the S$*(t out of the rich

#97 Jungle on 10.15.17 at 6:52 pm

There’s only one way they can make this up: Say sorry and bring back the $10K TFSA contribution limit!!

(and index to inflation :)

#98 acdel on 10.15.17 at 7:05 pm

The political system in this so called country has never been so broken. The central elitist are so far out of touch with the common person that it is mind boggling; thankfully people are starting to push back.

A number of municipal elections are coming up soon; be interesting to see what the electoral mindset is at this time.

#99 Pete from St. Cesaire on 10.15.17 at 7:08 pm

Had they just ignored the messages they received in the public meetings — which were overwhelmingly opposed to this draft legislation — I would be right there with you, shouting them down. But they’re listening and making changes.
——————————————————–
They’re just saving their a** in the short run, they’ll be back with more of this crap as soon as things cool down, probably the day after the next election.

#100 Ex-Cowtown on 10.15.17 at 7:11 pm

George Carlin once said:
“Political Correctness is fascism pretending to be manners”.

T2 and Morneau have built upon George Carlin’s observations:

“Pay your Fair Share” is hypocritical fascist theft pretending to be equality.

#101 Keith on 10.15.17 at 7:22 pm

I have never seen such a small change in taxation, ($120 per year per self employed/small business) generate so much political/media mileage. You can’t even get a straight answer on the impact, there are literally opposing views within the income tax lawyer community.

Out here, I have noticed a number of real estate agents add the initials P.R.E.C. after their name in their marketing materials. I guess the C. = corporation and it was done so for the tax savings.

I invested in an income trust ETF about a week before the Conservatives changed the very tax rules they promised they would not six months earlier in the election campaign. Cost me thousands. It will be a long time if ever that I will vote Conservative. I can hold a grudge.

#102 the Jaguar on 10.15.17 at 7:25 pm

The Jaguar doesn’t really know which way is up when it comes to this tax reform business. I admit it. But this is a forum for opposing views, and the CBC Sunday Edition had Dennis Howlett on the show today, talking about this very issue. He is the Executive Director of the lobby ‘Canadians for Tax Fairness’. Worth a listen.

http://www.cbc.ca/radio/thesundayedition/the-sunday-edition-october-15-2017-1.4353223/opponents-of-the-liberals-proposed-tax-reforms-may-not-be-telling-the-truth-1.4353235

The organization is funded by the Global Alliance for Tax Justice, which is an anti-corporate, anti-globalist, left-leaning organization primarily active in Africa. Perfect for the CBC. — Garth

#103 Stone on 10.15.17 at 7:28 pm

#93 Tim on 10.15.17 at 6:49 pm
I hope he taxes the S$*(t out of the rich

——

So, do I understand your statement correctly? You have no aspirations of becoming wealthy yourself? It does have its perks. Lots of them. I highly you recommend it. Just one taste of a dividend will have you hooked. I have no regrets and wouldn’t go back.

#104 pam on 10.15.17 at 7:32 pm

Butts, T2 and BM got to go. It’s good to see that the push back from citizens will likely results in changes to this tax proposal.

#105 Keith on 10.15.17 at 7:40 pm

Yeah, about that risk free worker lifestyle:

http://www.cbc.ca/news/canada/new-brunswick/sears-bankruptcy-senior-benefits-1.4355481

#106 joblo on 10.15.17 at 7:43 pm

Say it ain’t so Bill!
We need ya around with T2, Poleoz, Knotly and Winn to scorch this to the ground.
Then we can build a nation, this ones done.

#107 400.001 on 10.15.17 at 7:57 pm

#69 Elite but not racist……..

Immigrants aren’t slaves in this country, I employee 3. They don’t get paid a lot – about $40k a year, plus bonus and benefits. They struggle with English – paid for ESL classes myself. They are really happy to work here.

===

Strange that as an employer you don’t know how to spell employing.

How much would you have to pay if there were no immigrants/TFW available?

So far this month you have posted under 17 separate names, most commonly as ‘akashic record’. This is one of your worst. Quite an achievement. — Garth

#108 not 1st on 10.15.17 at 7:58 pm

Garth, you need to sell that store and move to Calgary. We are going separate and join Trump.

#109 Entrepreneur on 10.15.17 at 7:59 pm

I also think that T2 and BM are not capable of running this country as their “feet are not on the ground” like their grandparents.

Just the talk of taxes to a small business owner will give them a nervous breakdown or close to one. They need smooth sailing to move ahead not a roadblock.

Have to agree with #76 Victoria Tea Party on T2 with NAFTA and gender rights, what. As for the new NDP leader all I can think of is that fighter-for-the-people Tom McClure was rejected? but will listen the new NDP leader and see, give him a chance. Wonder if he has ever heard of 1, 2, 3 your out.

The same 1, 2, 3 your out goes to those bloggers that submit too often. Write your thoughts/emotions down on paper then rewrite but just the facts.

Thanks and appreciation are in order.

#110 crowdedelevatorfartz on 10.15.17 at 8:02 pm

@#74 Stone
“If he was taking on an apprentice, I’d apply. It would probably be an eye opening experience.”
+++++++

Fair enough.
Carrying Gerald Butts briefcase. ( full of contact lists of the worlds best and brightest no doubt)
But just prepare yourself to be introduced into the hardscrabble political world of Cape Breton politicos.
( Billy Joe Maclean comes to mind)
A Cape Bretoner that came from next to nothing to now be whispering advise into the PM’s ear.
Think he got there by being nice?
I cant wait for his “tell all” book when he’s finally out of the limelight

#111 400.001 on 10.15.17 at 8:03 pm

#83 PastThePeak on 10.15.17 at 5:39 pm

I told you that SCM isn’t likely to last long. A couple days in, and multiple deleted posts and showing an inability to discuss a topic which is not immigration or boomer bashing (note: I am not a boomer:).

Just give it a few more days…

======

You can kick SCM out from here, but you can’t ban him/her from the voting booth.

That’s all what you need to know about banning.

#112 Spock on 10.15.17 at 8:10 pm

You believe the numbers of the thieves in power. You are the person that T2 is targeting anyways.

If you had stayed the course for the income trusts or bought in more, you would have made much more money.

Looking at the grudge you hold, you probably sold at a 30% loss when the news came out.

Bitter, jealous and holding a grudge long term (and thousands of $$$ poorer) – what a combination.

————————-
#98 Keith on 10.15.17 at 7:22 pm
I have never seen such a small change in taxation, ($120 per year per self employed/small business) generate so much political/media mileage. You can’t even get a straight answer on the impact, there are literally opposing views within the income tax lawyer community.

I invested in an income trust ETF about a week before the Conservatives changed the very tax rules they promised they would not six months earlier in the election campaign. Cost me thousands. It will be a long time if ever that I will vote Conservative. I can hold a grudge.

#113 Spock on 10.15.17 at 8:11 pm

#108 400.001 on 10.15.17 at 8:03 pm
#83 PastThePeak on 10.15.17 at 5:39 pm

Will be hard to vote from the utopia he is going to destroy.

Irony is that he rails against the TFW coming in and he himself is trying his best to go to another country and take a job away from the locals there. But that will be too much to understand for the intellectually challenged.

======

#108 400.001 on 10.15.17 at 8:03 pm
#83 PastThePeak on 10.15.17 at 5:39 pm

You can kick SCM out from here, but you can’t ban him/her from the voting booth.

That’s all what you need to know about banning.

#114 crowdedelevatorfartz on 10.15.17 at 8:21 pm

@#104 (ironically enough) 400.001

“So far this month you have posted under 17 separate names, most commonly as ‘akashic record’. This is one of your worst. Quite an achievement. — Garth

++++++

Embarrased at your name?
Trying to pretend “other people” agree with your message?
OR, more likely
Off the schizo meds?

You have to embrace your nom de plume…….proudly.

Like moi.

#115 Age Old Armenian Saying on 10.15.17 at 8:26 pm

Too few of the ambitious are wise.
Too few of the wise are ambitious.
The masses mistake charisma for wisdom.

#116 Duffy on 10.15.17 at 8:30 pm

Yes I agree, when the toaster pops Bill will be ready for a little butter and jam, hopefully soon followed by the pop tart youngster.

#117 Keith on 10.15.17 at 8:33 pm

#109 Spock

I enjoyed reading the link you supplied as evidence to refute the numbers of the “thieves in power.” Oh, you didn’t supply evidence. Loser.

#118 BS on 10.15.17 at 8:56 pm

Sexist proposals will also be addressed. By ending the ability of a husband and wife to split income from a business they co-founded and co-own, even when all the risk was familial, women were road kill unless they worked as employees, not in the home. Now it’s rumored female entrepreneurs will be allowed to retain money in a corporation for a potential mat leave, opening the door to a dangerous, gender-based system. (Sorry, gay guys, you can adopt a child on weekends and stat holidays.)

If they wanted to address sexist taxation they would start with CCP and EI. Also defined benefit government pensions. They all massively favour women.

For CCP and defined benefit pensions both men and women pay the same rate but women live on average 5 years longer and would get on average 5 years more CCP or pension payments with the same contribution rate men pay. Men are subsidizing women.

For EI women of child bearing age can use the benefit for mat leave. Although men who have a partner who has a kid can use EI for this it is rare. Single men do not get this benefit. Obviously older women and older men cannot use this benefit but pay the same EI rate. Again women age 18 to 45 are subsidized mostly by men.

Private insurance programs like life insurance adjust premiums based on gender and age differences. For the T2 government they only make the adjustment if it negatively impacts men.

#119 crowdedelevatorfartz on 10.15.17 at 9:11 pm

Gee whiz.
Vancouver’s By Election yesterday elected an NPA councillor.
Gregor Robertson’s “Vision Vancouver” candidate came 5th place out of 5 candidates.
The 9 School Board Trustees to replace the ones fired last year?
Similar results 3 Trustees out of 9 were from Gregor’s Visionistas

A harbinger of next years Civic election?

One can only hope

#120 juggled head on 10.15.17 at 9:12 pm

Da secret is out…..shhhh don’t tell the foreign investors, they still don;t know

http://theprovince.com/news/local-news/archie-andrews-thinks-vancouver-is-kind-of-boring/wcm/4ef6825b-24a1-4c18-bdcd-bfb22e843bd8

#121 Hawk on 10.15.17 at 9:13 pm

#13 SCM on 10.15.17 at 12:22 pm

<<<>>>

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

LOL – there is no “dolce vita” for the vast majority of Europe (as told to me by Europeans themselves in 2016 vacation) and the little there is will disappear faster than the beloved tundra of ours.

If you think our LEGAL migrants are a pain, you have no idea what most of western Europe is in for with the refugees pouring in.

If you can’t make it here…….head South, while the Trumpeter still allows you in.

#122 400.001 on 10.15.17 at 9:14 pm

So far this month you have posted under 17 separate names, most commonly as ‘akashic record’. This is one of your worst. Quite an achievement. — Garth

—–

Since none of the names here are actual names, from time to time I use “name” as the headline of the comment. It should be quite obvious.

If I wanted to make the changes of the “anonymous names” undetected, I would just spoof my digital footprint.

I can’t say that all the headlines are equally good, but you clearly reveal to me which ones trigger you the most. I stand by those, but I don’t mind if you chose some of them to remain between the two of us. After all I like you, I respect you, even if I strongly oppose some of your views. I wouldn’t bother spending any time if I didn’t.

I am not worthy. – Garth

#123 juggled head on 10.15.17 at 9:22 pm

#23 Fuzzy Camel on 10.15.17 at 1:06 pm

Gender based taxation, Canada has lost it’s mind.
This is blatant sexism at it’s finest. Time to identify as a woman.
Seeing the true face of feminism, what Trudeau is proposing, feminism is blatant sexism in favour of woman. …”

Yo camel toe, you are ahead of the curve. The next trend will be for all dudes to go Bruce Jenner style gender bending so that they can claim discrimination against the fembots……get yer dress quick b4 they sell out…kilts don’t count

#124 Lessons Learned on 10.15.17 at 9:35 pm

I live in Toronto Center – Bill Morneau is my MP.

I voted for him. Fool me once……

I actually thought both him (and Trudeau) might make a real difference to improve the lives of the constituents he represents (Regent Park, St. Jamestown). Break the cycle of poverty….breakfast and community programs for the kids….guess that was pretty naive.

I figured these guys were weathly enough and therefore could focus on actually improving the life of the average Canadian…..nope.

And to learn now that Bill really isn’t playing by the rules….https://beta.theglobeandmail.com/news/politics/finance-minister-bill-morneau-didnt-place-assets-in-blind-trust-raising-conflict-of-interest-risk/article36596635/

Seriously ? He’s a finance professional ? I think the fact that he inherited and married into his wealth seems to be the only plausible explanation of why he may appear to be successful – holding his own as Finance Minister for Canada – not so much.

#125 A123 on 10.15.17 at 9:38 pm

The rich generally get that way through risk and enterprise, or a trust fund.

I don’t think so.
The reason why many are very rich is because the accumulated wealth on the backs of others. There may be a few who got rich because of honest means, but many climbed up to the top via not so pristine methods.
Don’t kid yourself. Most divert taxes any way they can. Why pay taxes, if they snake away as much money as they can, tax free. The system has allowed it, and it looks like the system will continue to do so. That is why this group has been so vocal.
Don’t give me this bull about the fact that they need these tax breaks because they have no pensions and thus need to divert money into their corporations and pay dividends to their spouses and children.This is the same group that do not pay their employees a pension or benefits.

#126 Smoking Man on 10.15.17 at 9:39 pm

#115 Age Old Armenian Saying on 10.15.17 at 8:26 pm
Too few of the ambitious are wise.
Too few of the wise are ambitious.
The masses mistake charisma for wisdom.
….

Nice

#127 400.001 on 10.15.17 at 9:45 pm

#114 crowdedelevatorfartz on 10.15.17 at 8:21 pm

@#104 (ironically enough) 400.001

“So far this month you have posted under 17 separate names, most commonly as ‘akashic record’. This is one of your worst. Quite an achievement. — Garth

++++++

Embarrased at your name?
Trying to pretend “other people” agree with your message?
OR, more likely
Off the schizo meds?

You have to embrace your nom de plume…….proudly.

Like moi.

===

I don’t embrace ego and especially not fake “name”.

You feel free to be proud of yours.

#128 yorkville renter on 10.15.17 at 9:50 pm

SCM = KFC… a shorter name, to avoid all of the historical “ugliness” but still the same chicken.

I thought Wild Bill would do well. I expected it, as the head of a multi-million dollar organization. Sad.

#129 400.001 on 10.15.17 at 9:50 pm

I am not worthy. – Garth

—-

Sometimes indeed, but you have good potential. :)

#130 Shortymac on 10.15.17 at 9:51 pm

I went to an open house this weekend in my hood, just to see the place. I was shocked that a tiny bungalow in Rexdale (the good area BTW) was going for almost 800k!

Owner was very desperate and was really trying to sell me, lot was nice but way too small of a house. Was practically begging me to come back.

#131 Valleyboy on 10.15.17 at 9:55 pm

Been reading your blog for three years. This crying over tax fairness is getting annoying. The people who use loopholes, get mad after it catches up to them. unfortunatly the complacent employees will just hide while the poor business owners think that loop holes are their birth right. If I rob a blind woman is it a right just because I can get away with it? Member when buffet admitted paying less tax then his secretary. Right….

Decades-old tax laws that people faithfully adhere to are not loopholes. You have been had. — Garth

#132 Valleyboy on 10.15.17 at 9:57 pm

https://www.google.ca/amp/s/amp.cnn.com/money/2013/03/04/news/economy/buffett-secretary-taxes/index.html

Sorry Buffet paid a lower tax rate.

#133 Spectacle on 10.15.17 at 10:07 pm

In the Dark Light of tonight’s post, I suggest You also know your enemy.

“Agenda30”. The great destruction of western culture explained.

How Many Have Heard of the UN’s Agenda 30? – Fred Sauer Matrix

( Ever wonder why Morneaue has a castle in another Country, and Launders his clients canadian money via Panema Papers? Trudeau is one of his Blind Trust clients. What other lies are Canadians spoon fed? Kim dot com, where are you?

#134 400.001 on 10.15.17 at 10:15 pm

#125 A123 on 10.15.17 at 9:38 pm

The reason why many are very rich is because the accumulated wealth on the backs of others.

—-

We’re the masters of our own fate
We’re the captains of our own souls

#135 Smoking Man on 10.15.17 at 10:32 pm

Just for you Justin
https://youtu.be/S9otrK5mb6g

#136 Middleboro Melanie on 10.15.17 at 10:42 pm

Garth, I am really glad you wrote this article, exposing Liberal hipocracy for what it really is. It’s important to have the facts as they are, exposing Morneau and Trudeau for how they acquired not earned their wealth, and how Morneau is not disclosing assets. Very good blog post and crucial for the electorate to see that these politicians need to disclose their personal information like this first if they plan to truly violate the personal lives of hard working canadians with the policies they thought they could slip by. Thank-You Sir.

#137 Smoking Man on 10.15.17 at 10:43 pm

DELETED

#138 n1tro on 10.15.17 at 10:43 pm

#60 Jay on 10.15.17 at 3:30 pm
I’m tired of your whining. As a family my wife are in the upper middle class, but you think since I work for a company I should pay much higher taxes then you because you are an entrepreneur and taking on risk. That is a fallacy, I or my wife could lose our job at anytime we have risk in our life too and we should pay a similar tax rate as you.
————————————
If you can “lose” your jobs “anytime”, then you aren’t contributing to the companies you work for. But lets suspense reality for a second and assume the “risk” you and your wife are taking working for an employer with benefits is real, the day you do lose your jobs, you are or aren’t going to collect EI!? 100% guarantee your sorry asses would be collecting the company severance and then sticking out your hands for EI while an entrepreneur would be off creating opportunities for themselves to keep their companies going.

There is a huge difference between an entrepreneur and a employee. Entrepreneurs can work as good employees if need be while employees rarely make good entrepreneurs because of the loser/envy mentality you clearly demonstrate.

#139 Topsy-Turvy on 10.15.17 at 10:46 pm

#19 Will Everett> Japan is a walking disaster?
That’s racist. Do you know about Japan? I think not.

Man, go read something on macroeconomics before commenting. Japan has to increase its migration tenfold to make up for its projected population decline through the year 2030.

#140 Steuy on 10.15.17 at 10:50 pm

I can’t stand what the Liberals are doing; I’m mad as hell and not going to take it anymore!
Phew, I’m glad I got that out.
A political party that spews divisiveness with an Eat-The- Rich mandate is destined to land on it’s royal rump sooner than later. They are hypocrites and are making a mockery of our Democracy. (Sorry, for Sounding American)
The PCs could have a fence pole run against the Liberals next election and it will probably stand a good chance of winning. I’m not so sure with Andrew at the helm. He looks too much like a Deer caught in the headlights.

#141 Smoking Man on 10.15.17 at 10:51 pm

When you are in drinking paranoid frame of mind.

This song is heaven. Found his grave and dropped a black rose.

My hero of all time.
https://youtu.be/SfU_ou9Fixw

#142 Long-Time Lurker on 10.15.17 at 10:52 pm

The best thing Justin can do for himself, his party and the country is to talk to Chretien on a weekly basis and find out what it means to be a good prime minister. He has to think about the good of the nation above ideology, politics, and ego. When Canada got through the global financial crisis back in 2009 (approx. date) I was really grateful that we had such good leadership compared to other countries.

Evaluating J & B’s performance so far, I think it’s safe to say that politics was a vanity project for the two of them. Their vision, plan, objectives and execution for Canada seems to be a combination of feel-good Sunny Ways and line my pocket behind your back.

Bains sounds good as Finance Minister but I don’t know how he’d get in without Morneau stepping down. By the way, Garth, I think you have a beard-based bias regarding good looks.

I wonder if J & B can eat the humble pie for the good of the country?

#143 golden parachute on 10.15.17 at 10:56 pm

In 1999, Donald Trump proposed for the United States a one off 14.25% wealth tax on the net worth of individuals and trusts worth $10 million or more. Trump claimed that this would generate $5.7 trillion in new taxes, which could be used to eliminate the national debt.[17] A net wealth tax may also be designed to be revenue neutral if it is used to broaden the tax base, stabilize the economy, and reduce individual income and other taxes[18].

http://www.cnn.com/ALLPOLITICS/stories/1999/11/09/trump.rich/index.html

He can’t deliver what he promised last year, let alone in 1999. — Garth

#144 Smoking Man on 10.15.17 at 11:15 pm

DM the machine. Hoping this link don’t get deleted.

https://youtu.be/Ckom3gf57Yw

#145 45north on 10.15.17 at 11:20 pm

Stan Brooks: from your link:

Pierre Poilievre, the Conservative finance critic, said it’s “insanity” that workers will have to document all the discounts they receive on merchandise each year under the new interpretation. He said if all discounts are not documented, it could turn regular law-abiding Canadians into tax cheats. “Hardworking, low-income, wage-earning retail workers should not have to pay tax on the small employee discounts they receive, this tax will actually cost more to administer and enforce than it will raise in revenue but it’s perfectly consistent with Justin Trudeau’s uncontrollable addiction to spending.

negative returns – in this context there are two kinds of returns. The first is political support – people generally agree that the government’s policies are correct and benefit the country. The second is income – mo money.

In the case of Bill Morneau’s tax policies, the political return was negative – yes maybe there were more people in favour than against but in terms of building a broad-based consensus it was a failure. In Justin Trudeau’s mind the second is irrelevant – he doesn’t care if there’s more money.

Can I suggest that Revenue Canada learn from Agriculture Canada where I worked for 40 years. Agriculture Canada has experts who know Canadian agriculture inside and out. They look for ways to support agriculture – whether it be better knowledge of soils, better access to markets or new varieties of crops. I’m thinking of a lecture I attended on grasshoppers and their effect on grain production in the prairies – an entomologist was giving a summary of 20 years of his work. He had a genuine devotion to agriculture.

Let me also point out that it is has been the policy of the civil service not to promote from within but rather to transfer senior civil servants across departments. In the case of Agriculture Canada this has lead to a diminishing of devotion to agriculture and to a more institutional focus.

The attitude displayed by the Liberal Government is the antithesis of dedication and devotion. If the minister calls small business cheats then he is the model which civil servants will copy. How can a civil servant devote himself to small business when his boss calls them cheats? He will see them as antagonists and if he doesn’t he will find himself opposed to the corporate culture.

#146 Often deleted much maligned stock picker on 10.15.17 at 11:28 pm

DELETED

#147 Bottoms_Up on 10.15.17 at 11:32 pm

Start here. Check out the author. — Garth
—————————–
Right, let’s promote a race to the bottom. And, that author got a bunch of his facts wrong.
1) the federal pension plan is a 50/50 split, much like the teachers
2) he shows no proof that wages are higher than vs. private sector
3) the federal plan is in great shape and has $100 billion in assets

#148 Greg on 10.16.17 at 12:06 am

#86 PastThePeak on 10.15.17 at 5:39 pm
I told you that SCM isn’t likely to last long. A couple days in, and multiple deleted posts and showing an inability to discuss a topic which is not immigration or boomer bashing (note: I am not a boomer:).

Just give it a few more days…

——

Cut him some slack. He’s getting use to the new rules. Well deserved for going into that all that “all boomers are sadists” crap. Plus he’s getting some help now from what I see in the comments. Good stuff.

Yeah I know I said I would be out after that last minimum wage debate. But I want to bite off more debate which I think is possible here given the relatively civil nature of the last minimum wage increase debate.

This one is a pet peeve of mine for reasons I will disclose only after I think the fight is over. That is a favor to you ravenous dogs. If I told you now you would cloud your logic with labels and become an easy kill.

And it is far more on point to this blog than the minimum wage debate ever was. Here is the big honking rib-steak I am throwing in this dog house:

Proposal: Realtors are involved in a noble profession and play a useful role in the sale of residential real estate.

As expected I will fight on the for side. I appreciate any help but who’s kidding who? On this blog. I fully expect to only see my posts on the for side.

I propose that I will fight a good clean fight in an upcoming housing blog post. Garth has to eventually post some gloomy Toronto housing blog post. Leave a comment if you don’t want me to start this fight Garth. Otherwise silence or an affirmative response I will take as a “Game on”.

You ravenous dogs on the against side can fight any way you want. I don’t care. I’m a big dog. I can take it.

And here’s the kicker. I will tell you something about myself which is a on point and therefore a huge advantage for you going into any debate.

I don’t know much about real estate.

And even less about Toronto real estate. Definitely Garth, and probably most dogs here can easily run circles around me with their real estate knowledge. Like I said I came here for investment insight. Didn’t care a hoot about real estate.

But if some of you dogs who have bashed realtors in the past just wanna show your belly right now, agree to the stated premise, and stop the realtor bashing (I’m looking at you Happy Housing Crash Everyone), I won’t even start the fight.

Deal?

Yeah. I didn’t think so.

So I will pick a future housing blog post to hit the bell. May not be this week. But by next week for sure assuming a housing blog post appears.

Because I need to prepare. Oh yeah dogs. I’m in training. You should do the same. What’s that you say? You think you’re ready right now? Are you serious?

Quick test.

What’s the gender neutral version of man/woman?

Yeah I didn’t think so.

You need to up your game ravenous realtor-bashing dogs. You need to come with all your knowledge and intellect while leaving all your biases at the door. Because if I see any of that crap I’ll just walk away from you to focus on whatever ravenous realtor-bashing dogs are remaining.

Why am I doing this? A few reasons. But mostly because as Kenny said … sometimes you gotta fight when you’re a man.

And if you passed that earlier test. Awesome. I hope you’re on my side.

See you soon dogs.

#149 SimVan on 10.16.17 at 12:42 am

Morneau is toast. He pissed off a vital part of the base. The Liberals who actually fund the party. Doctors, lawyers and small business people. These are the people who contribute and attend convention. An millionaire avenger for the middle class. Give me a break.

#150 Joe2.0 on 10.16.17 at 12:53 am

Remember the golden rule.
Those with the Gold Rule.

#151 Spock on 10.16.17 at 1:27 am

@ Keith

Learn to do your own research. It’s amazing that you enjoyed reading a link which was not supplied. I guess the imaginary talents help.

The kettle calling the pot black. Loser indeed.

——————————–
#117 Keith on 10.15.17 at 8:33 pm
#109 Spock

I enjoyed reading the link you supplied as evidence to refute the numbers of the “thieves in power.” Oh, you didn’t supply evidence. Loser.

#152 crowdedelevatorfartz on 10.16.17 at 1:44 am

@#127 400.001
“I don’t embrace ego and especially not fake “name”.”
++++++

Ayn Rand couldnt have said it any better…… or was that John Galt?

#153 domain on 10.16.17 at 1:49 am

“The organization is funded by the Global Alliance for Tax Justice, which is an anti-corporate, anti-globalist, left-leaning organization primarily active in Africa. Perfect for the CBC. — Garth”

Thank you for pointing that out. I heard that BS on CBC today, and I almost puked in my mouth at yet another CBC-based propaganda piece. My wife told me that “The Debaters” was being cancelled, and the first thing I thought was that their budget would be poured-into more CBC (Communist Broadcasting Content).

#154 Stan Brooks on 10.16.17 at 2:17 am

#74 MF on 10.15.17 at 4:24 pm
#55 Stan Brooks on 10.15.17 at 3:23 pm

“#43 MF on 10.15.17 at 2:30 pm

You are disgrace for all Canadians and have no right to speak on our behalf”

-This coming from the guy who comes on here day after day to tell us all about how bad Canada is.

I don’t think I’ve read one positive post from you. Ever.

MF

————————-

Here is one:

J2 has a nice hair?

#155 Stan Brooks on 10.16.17 at 2:18 am

another one: T2 has nice socks?

#156 Dolce Vita on 10.16.17 at 2:49 am

#13 SCM

“I’d throw in a little Hope as well. No trickle down bs. I would win and you boomers would be screwed big time.

Count your lucky stars and adult diapers that Dolce Vita sold me on Europe.”
– – – – – – – – – – – – – – – – – –

My evil plot to save Cdn. Boomers, apparently, working. ;-)

#157 Dolce Vita on 10.16.17 at 3:16 am

#28 Guillaume

Canada youth unemployment about 10 to 11%, last 3 years or so, 10.3% in 2017 and averaged 14% from 1976 until 2017.

Euro Area, 18.9% in 2017, averaged 19.57% from 1993 until 2017:

Germany, 6.4% in 2017, averaged 9.46% from 1991 until 2017.

UK, 11.8% in 2017, averaged 15.21% from 1983 until 2017. France, 23% in 2017, averaged 20.18% from 1983 until 2017. Italy, 35.5% in 2017, averaged 28.71% from 1983 until 2017. Spain, 38.7% in 2017, averaged 34.69% from 1986 until 2017. Netherlands, 8.9% in 2017, averaged 11.08 percent from 1983 until 2017. Denmark 12% in 2017, averaged 10.20% from 1983 until 2017. Belgium 21.7%, averaged 20.19% from 1983 until 2017.

America: 9.1% in 2017, averaged 12.25 percent from 1955 until 2017. Also worse than Germany, about the same +/- as Canada and UK.

Pretty much everyone else worse than Germany (EU vs. Canada, USA).

Countries everyone likes to vacation in such as Italy, Spain and France unemployment rate basket cases.

Caveat on vacationing to France and from my visits there, year round:

Go only in the Summer; otherwise, too wet, cold, rainy or snow than any other time of the year – food/wine GREAT [why I go there], still ridiculously expensive in Paris, as bad as London…and the fabled Paris Spring?

Bring your hip waders for the rain and double strength umbrella for the wind…that’s when the French come to Italy and not Spain, it’s in the food and wine and the French will tell you that in Italy.
– – – – – – – – – – – – – – –

Which was your home country in the EU?

#158 Dolce Vita on 10.16.17 at 3:26 am

#53 Lefty

…Sent from my Italian Villa.

– – – – – – – – – – –

Good to read not the only 1 here that decided to “do the right thing”…I decided to extend my stay for obvious reasons (food, wine, culture, history, cheap transportation – planes, trains and buses, too many things to see in a life time and much, much cheaper to live here vs. Canada…oh ya, I almost forgot, THE WEATHER).

Where in Italia Lefty, I am curious?

#159 Dolce Vita on 10.16.17 at 3:49 am

ON TOPIC:

Garth, last time I checked, Canada split 50/50 about the Morneau/Trudeau onslaught against small business.

I don’t think the Morneau “Villa” revelation will change much of their tax proposals. The 2 of them seem pretty stubborn to me, if not arrogant, about what they want to do. Morneau says he will make some changes and added, he needs to explain the tax measure better…the last comment said it all to me.

They still believe they are correct and may toss a bone to small business.

You changed my mind on things I did not like and agree with you, Morneau/Trudeau are being unfair to small business people which are the backbone of this country.

On the other hand, Canadian financial literacy is very bad (I mean, just look at the epic debt on average and how close most are to financial hard times with a few more rate increases).

The point is, it will be a hard sell to convince all Canadians on the technical points you have made over the past couple of months to the average Canadian and I think, Morneau/Trudeau know this and will give some “on the surface” concession to small business that will not matter from a tax point but will make great gains in “smoke and mirrors”.

We’ll see what they cook up, should be interesting.

Like you say, it’s politics and the Liberals hungry for tax revenue. 2 things that do not bode well for small business people and of course, the financial literacy of Canadians on average will make it an easier sell for them.

BTW, good eye Garth on the author of that Civil Servant benefits article, 1 of Morneau’s actuarial people. Why I keep coming to your Blog every day and enjoy every second of the read.

#160 Dolce Vita on 10.16.17 at 4:10 am

#121 Hawk

“…there is no “dolce vita” for the vast majority of Europe (as told to me by Europeans themselves in 2016 vacation) and the little there is will disappear faster than the beloved tundra of ours.”
– – – – – – – – – – – – – – –

Scroll to to the “Sources of immigration” in 2015 table AND “Permanent Residents admitted in 2013” table to read about your groundswell of Europeans immigrating to Canada:

https://en.wikipedia.org/wiki/Immigration_to_Canada

More Americans than any other EU country (France, UK = 4% and the only 2 from the EU of the top 10).

If there is no “dolce vita” in Italy for example, why are 400,000,000 of you foreigners visiting my EU country this year, up 16% to 25% vs. last year, depending upon the region of Italy (recall, we are 1/3 the land mass of BC, less of your Cdn. Tundra)?

I guess they must all want to eagerly experience the hell that you cite:

“If you think our LEGAL migrants are a pain, you have no idea what most of western Europe is in for with the refugees pouring in.”

And what does that mean exactly?

#161 NEVER GIVE UP on 10.16.17 at 4:41 am

#19 Will Everett on 10.15.17 at 12:53 pm
Immigration levels have been consistent at less than 1% of the population annually. Without it our natural population would decrease and economic activity along with it. Currently demographics are not our friend. For proof look at Japan, where immigration has been seriously restricted and the economy has been a walking disaster for three decades as the population ages. In any case, this is not an immigration blog and I will not tolerate comments trashing newcomers. It takes courage and drive to change countries. The lazy and feckless never try. — Garth

Japan is a walking disaster?

That’s racist. Do you know about Japan? I think not.

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

I have family in Japan on the wife’s side. They can’t get enough holiday time because the factories are so busy. One of them quit because of burn out and pressure to work long hours. They have lots of money and no time to spend it!
Japan has a long standing Homogeneous policy. 98.5% of the population is Ethnically Japanese. There is no proof that restricted immigration or aging is damaging to a society. They are living proof of this. High living standards, jobs through the roof. Low housing costs. Great cities!
It is really a fallacy that you “need” immigration to pay for the old. More like our leaders want more immigrants to pay for their largess!
I am not against immigration but I am against the high levels of immigration. I also disagree with Ghettoizing immigrants to places like Richmond and parts of Toronto. this does not lend to assimilation. A nice experiment, but the US has it right with the melting pot idea.
Another thought that is a little pie in the sky… If we are Cherry picking the educated from third world countries and countries that have war and demagogues at the helm. Then who are we leaving behind to change those countries for the better?
No wonder it seems hopeless in many of these regimes.

https://www.nytimes.com/2017/02/10/business/japan-immigrants-workers-trump.html

#162 under the radar on 10.16.17 at 5:37 am

Morneau forgets to disclose his villa is owned through a private corporation. ? The height of hypocrisy. He should resign.

#163 Gravy Train on 10.16.17 at 6:02 am

#41 MF on 10.15.17 at 2:22 pm

“I don’t know what this guy is smoking….”

I think you may have missed the point that Garth is making. The author of the article is Frederick Vettese, who is the chief actuary at Morneau Shepell.

Capisci ora? :)

#164 Dolce Vita on 10.16.17 at 6:18 am

Having a tough time believing Zolo.ca Vancouver resale detached number changes in the past 6 days:

https://i.imgur.com/n0z1cAo.jpg?1

https://i.imgur.com/w6FWI9y.jpg?1

I used to believe them dutifully but noted changes week after week that seemed off, just a mental note then, more than anything.

So, I decided to take snapshots over time (Oct. 10 vs. Oct. 16). What a turnaround/change or if you are me, a person becomes suspicious about the accuracy of this RE resale site.

Not meant to set off HHCE! Just an observation.

#165 maxx on 10.16.17 at 7:30 am

“Ottawa used base emotion for political gain. It failed. Plus it handed a gift to the hapless Cons.

Now Bill’s in damage control.”

The whole party’s in damage control. These Einsteins assumed that, because the base emotion thingy leveraged them into office, it would be a slam-dunk once again.

Demographics (bad Boomers!) and success are low-hanging fruit when economic optimism is at an all-time low. Could this bunch be any more transparent?

Nothing remains a secret for long today. Eventually, everything is known and I very much doubt that people will forget the machinations of this ageist, wasteful bunch.

“Sunny ways, my friends, sunny ways.” My a$$.
At what private island will we spend this Christmas, dear?

Pull the other one, reversal or no reversal.

#166 NoName on 10.16.17 at 7:35 am

#156 Dolce Vita on 10.16.17 at 2:49 am

I was going through employment odds in Corriere della Sera, and I noticed this, is that you buy some chance?

WANTED:

EVIL GENIUS SEEKS MINIONS TO SACRIFICE THEIR LIVES IN WORLD DOMINATION ATTEMPT MUST BE PREPARED TO WORK 24-7 FOR FASCIST PSYCHOPATH FOR CLOSE TO NO PAY MESSY DEATH INEVITABLE BUT COSTUMES AND LASER DEATH RAYS PROVIDED NO WEIRDOS CALL 1-800-MWA-HAHA

#167 BillyBob on 10.16.17 at 8:01 am

Europe’s more beautiful spots are great places to live if you’ve got money. Not if you want to make money. All the wonderful food, culture, and history in the world doesn’t matter if you don’t have a job or income.

SCM is in for a rude awakening if he thinks life will be one long episode of Lonely Planet – if he can even manage to navigate the bureaucratic mess of attempting to immigrate there.

The wine and the women may be better but the grass ain’t necessarily greener.

#168 Dharma Bum on 10.16.17 at 8:13 am

#81 Karma

“In what world is that guy cute? If anyone in a turban is “cute”, it’s Harjit Sajjan. He’s the best looking of the bunch.”
——————————————————————–

Sorry. The best looking turban dude is Hadji from Johnny Quest!

Check it out:

https://www.youtube.com/watch?v=Wc5MqJKVZtI

#169 Millennial Realist on 10.16.17 at 8:13 am

Smart Boomers are realizing that their day is almost done in terms of influence and control over the economy and our strangely contorted tax system that favours the few and must be fixed now.

They know that they have one last window, the next 2-3 years, in which to negotiate fairly a transition of generational power and values

Or it will all simply be taken away from them.

Here it comes:

https://www.thestar.com/news/world/2017/10/15/millennial-man-kurz-31-set-to-take-power-in-austria.html

#170 crowdedelevatorfartz on 10.16.17 at 8:25 am

@#161 Never Give Up
“One of them quit because of burn out and pressure to work long hours. They have lots of money and no time to spend it!
Japan has a long standing Homogeneous policy. 98.5% of the population is Ethnically Japanese. There is no proof that restricted immigration or aging is damaging to a society. It is really a fallacy that you “need” immigration to pay for the old…..

+++++

The fact that your “in laws” are expected to work overtime until they “burn out’ tells me there’s a worker shortage.
They will be forced to accept more immigrants or design more robots.
The “silver tsunami” is building and will crest in the next few decades.
Japan has the oldest population on the Planet due to its immigration policy.

Villages are emptying out as the young leave and the old die off.
Their solution?
Free housing for young families willing to move out of the cities and life sized dolls sitting at busstops and park benches to give the appearance of a “population”.
Twilight Zone.
No
Japan is aging rapidly and their 98.0% “homogeneous society” will be their doom.
The only other 1st world “country” with a similar aging population demographic?
Quebec.
Large catholic families in the 1950’s and 60’s that stopped having babies en mass…..
Thank god it’s QPP that will have to pay for that demographic fiasco………

#171 MF on 10.16.17 at 8:32 am

4 Stan Brooks on 10.16.1

Lol It’s a start.

MF

#172 MF on 10.16.17 at 8:37 am

#163 Gravy Train

Still doesn’t change the fact that there is a lame private vs public theme slowly slithering into this blog.

As we have seen, the politics of division often fails because people are too smart for it.

MF

#173 crowdedelevatorfartz on 10.16.17 at 8:43 am

@ Never Give Up

Perhaps Japan might want to rethink its “homogeneneous” (racist?) immigration policy.

Before it’s too late?

http://www.google.ca/url?url=http://www.worldatlas.com/articles/countries-with-the-largest-aging-population-in-the-world.html&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwipoN-SlPXWAhVI22MKHS3LBtIQFgggMAM&usg=AOvVaw2OWccavCtn2PcN1rYAplfO

26% of the population is over 65?
1 out of every 4 people is over 65 and that’s sustainable?

When it reaches 30%, 40%…. and there arent enough people to fix the robots caring for the elderly…..think they’ll change their minds about the “benefits” of having a “homogeneous” society?

#174 Morneau on 10.16.17 at 8:47 am

He didn’t forget about the villa . That’s silly
. He intentionally left it out . For whatever reason he felt shame ? Like he was cheating the system ?

Disturbing . Speaks to character . He needs to resign . Country trumps any individual .

Not a good day for Canada

#175 crowdedelevatorfartz on 10.16.17 at 8:50 am

@ Never Give Up

And Quebec isnt very far behind.

” By 2026 Quebec will have 20% of its population over the age of 65. It will experience an emptying out of its rural areas as the elderly move towards medical services in the cities…….”

http://www.google.ca/url?url=http://www.nrcan.gc.ca/environment/resources/publications/impacts-adaptation/reports/assessments/2008/10281&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjxrbydlvXWAhUM0mMKHTI3D7sQFghEMAs&usg=AOvVaw1Sr17DWAl861jc9ZylttJ9

#176 Lefty on 10.16.17 at 9:14 am

How rich do you have to be to forget you own a corporation that has your freakin’ family name on it? Even Trump never tried that one.

#mostlyjealous

#177 Mishuko on 10.16.17 at 9:26 am

Backing a few days to that citi report. Lol. Citibank… my experience with them is slow. Especially with a multi billion relation. They missed the timing on that.

Reporting in from HK and let me say. Its so different. A good different. You would never expect it. Wandering off the beaten path. Taking some well travelled. Going geezer style at museums. Weathering a t8 warning. Yesterday was a ghost town. Today has been 180 flip in density. Dammit makes the besterest #1 world class city in the world feel… out of touch. One day. I love Canada. I love my hometown. Family. Friends. 60% of the people. But this is different.

Working 11 hour days for the past year has made me realize. Work hard play hard is true

#178 Prairieboy43 on 10.16.17 at 9:27 am

“T2 & Bill-em”, should dig out the liberal archive. Look how true liberal leaders Paul Martin, Chrétien, brought government expenditure under control.
PB43

#179 Pete on 10.16.17 at 9:45 am

Do small biz avoid taxes to the point everyone is now incorporating?

1)Personal income tax revenue dropping

For the first time since the recession in 2009, the province’s revenue from personal income tax actually went down, It was $30.67 billion this past year, a drop of 1.5 per cent from the 2015-16 figure. Perhaps more significantly, the income tax take was 4.6% lower than what the finance minister had projected in his budget for the year, a difference of $1.5 billion.

“This is highly unusual,” said Sheila Block, senior economist with the Canadian Centre for Policy Alternatives, a left-leaning think tank. “We don’t see a drop in personal income tax revenues generally at any point except when we’re in a recession.”

http://www.cbc.ca/beta/news/canada/toronto/ontario-government-revenue-kathleen-wynne-tax-1.4300960

#180 Ole Doberman on 10.16.17 at 10:00 am

Looks like the play of a life time wasn’t Vancity RE, it was Bitcoin now pushing $6,000 dollars!

From .06 in 2012

#181 PastThePeak on 10.16.17 at 10:12 am

#169 Millennial Realist

Smart Boomers are realizing that their day is almost done in terms of influence and control over the economy and our strangely contorted tax system that favours the few and must be fixed now.

They know that they have one last window, the next 2-3 years, in which to negotiate fairly a transition of generational power and values

Or it will all simply be taken away from them.
====================================
Not sure what you are getting at? That the tax system favours the rich while shafting the many? While there are clearly some tax rules which the *very wealthy* (say the 0.001%) utilize, the facts remain that the top 10% of earners pay well over 50% of all income tax. The lower 50% of income earners pay about 4%. So you really can’t claim the tax system is distorted to shaft the poor.

Are you then indicating that the solution is to have some wealth tax that will take away accumulated wealth? Since the millennials are children of the boomers, that would seem to be the last thing the kids would want.

Oh well – yet more insanity that we Gen-X have to deal with.

#182 Sue on 10.16.17 at 10:39 am

Wild Bills french villa.
https://m.youtube.com/watch?v=cxlkIZUUb1s

Now I understand how he ‘ just forgot’ about it.
What a hypocrite! Seems to be a vinyard and some lavender fields. Likes to get his habds in the dirt I guess.
Nothing a quick dip in the pool wont solve….

#183 Sue on 10.16.17 at 10:45 am

Oops Hands in the dirt!

And ‘in our pockets’

#184 single adult on 10.16.17 at 11:19 am

As a deliberately single adult I do find it hard to understand the tax breaks government sanctioned pair bond couples get. I do see a societal benefit to tax benefits to married or single people who have children, but not after the children are grown. I should not be disadvantaged as a single person as to how my tax is determined.

#185 Stan Brooks on 10.16.17 at 11:30 am

https://www.youtube.com/watch?v=jg7bLYHMyVE

More lies on CBC/the liebaral media:
They say that there is nothing wrong with BM having a french villa in France owned by a foreign corporation that he is part of (i.e split ownership with his wife).

au contraire (on the contrary):
1. Corporation is not needed in order to own a house in France.

2. Choosing corporation to own the property reduces the taxes (he probably claims that he produces something on that property – wine or lavender).

3. He will not pay capital gains on the value of the house as it appreciates so he can pass it to his kids without any tax on either inheritance or appreciation.

And this is the guy who is talking about closing loopholes and tax avoiding schemes! What a hypocrite!

This is:
1. A huge problem of ethics.
2. In direct conflict with his own words that apparently apply to everyone else but not to him.

BM, Is not your private french corporation a tax avoidance scheme?
Of course it is.
You have no credibility left.

Bill M should be fired immediately as well as the clueless panelist at CBC, because I can guarantee you: This will be not just the downfall of BM but also the downfall of Gerald Butts, T2 and CBC which should be closed as useless institution.

#186 Mattl on 10.16.17 at 11:32 am

Yes these tax breaks are legal. But are they logical? Should a hair dresser, dentist or realtor get the same tax break as a the owner of a plumbing crew with 6 trucks and 20 employees?

At the end of the day tax dollars are required to run the country. As a high wage salaried employee with very few benefits, I know all about tax payments. The reason we have a hard time getting wealthy is we give almost half of our earnings back to the government. We also take risk – we get whacked all the time and have years where income drops substantially, and almost no one in the private sector today has a DB pension.

I doesn’t make me a pinko to think that, just maybe, some of these one man shows that are registered as corps, shouldn’t be. Ultimately I am part of the group that is paying exorbitant taxes so other guys can defer theirs. I am 100 percent cool with significant tax breaks going to real risk takers and job creators. But all the other biz types lumped in with the real job creators is a joke.

#187 CV5 on 10.16.17 at 12:01 pm

Ottawa will announce plans today to cut the small business tax rate from 10.5 per cent to nine per cent on Monday, CBC News has confirmed.

http://www.cbc.ca/news/politics/small-business-tax-1.4356229

Does this mean they have folded their hand into a steep raise?

#188 Dissident on 10.16.17 at 12:07 pm

#70 crowdedelevatorfartz on 10.15.17 at 12:57 pm

Haha, yeah, the ‘engineer’ will have to do that, not some lowly bricklayer that the robot just replaced. Either upgrade your blue collar laborer status to engineer, or you’re ‘toast’. Pwned.

#189 Fake News Again on 10.16.17 at 12:09 pm

#173 crowdedelevatorfartz on 10.16.17 at 8:43 am
@ Never Give Up

Perhaps Japan might want to rethink its “homogeneneous” (racist?) immigration policy.

Before it’s too late?

http://www.google.ca/url?url=http://www.worldatlas.com/articles/countries-with-the-largest-aging-population-in-the-world.html&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwipoN-SlPXWAhVI22MKHS3LBtIQFgggMAM&usg=AOvVaw2OWccavCtn2PcN1rYAplfO

26% of the population is over 65?
1 out of every 4 people is over 65 and that’s sustainable?

When it reaches 30%, 40%…. and there arent enough people to fix the robots caring for the elderly…..think they’ll change their minds about the “benefits” of having a “homogeneous” society?

____________

Japan is also THE MOST crime free and peaceful country in the modern world. What was their immigration policy again? Oh right….no immigrants.

#190 Stan Brooks on 10.16.17 at 12:19 pm

Leiberarls private investments in Barbados are not a taxloophole to be closed. BMs company has registration there.

https://www.youtube.com/watch?v=o0kya8NHG1w

#191 Tazi Bnu on 10.16.17 at 12:20 pm

#39 diharv on 10.15.17 at 2:06 pm
Bill moreau is NOT toast . Most DID swallow the propaganda . Trudeau’s voting base , which is not the business community…
____________________________________________

The problem is where is Trudeau going to get his campaign donations. It looks like the Unions and the “Left” are going with their new eye candy. Small businesses and their employees won’t be giving money to an anti-small business party. The liberals will be fighting on two fully funded fronts, while their own war chest will be seriously lacking. They may be really tempted to dip into taxpayer dollars for their ads, like Wynne. Who removed AG oversight of Government Ad dollars.

#192 Dissident on 10.16.17 at 12:22 pm

#118 BS on 10.15.17 at 8:56 pm
Sexist proposals will also be addressed. By ending the ability of a husband and wife to split income from a business they co-founded and co-own, even when all the risk was familial, women were road kill unless they worked as employees, not in the home. Now it’s rumored female entrepreneurs will be allowed to retain money in a corporation for a potential mat leave, opening the door to a dangerous, gender-based system. (Sorry, gay guys, you can adopt a child on weekends and stat holidays.)

If they wanted to address sexist taxation they would start with CCP and EI. Also defined benefit government pensions. They all massively favour women.

For CCP and defined benefit pensions both men and women pay the same rate but women live on average 5 years longer and would get on average 5 years more CCP or pension payments with the same contribution rate men pay. Men are subsidizing women.

For EI women of child bearing age can use the benefit for mat leave. Although men who have a partner who has a kid can use EI for this it is rare. Single men do not get this benefit. Obviously older women and older men cannot use this benefit but pay the same EI rate. Again women age 18 to 45 are subsidized mostly by men.

– – – – – – – – – – – – – – – – – –

Oh come on. Are you seriously threatened by women? If you really think women have it better, then get a sex change, blow a cantaloupe out of your orifice in an orgy of blood, sh** and p!ss, give up a year’s salary and then try to come back to the job you left. Or better yet, have your employer “downsize” your job just after you go on mat leave (cause that is legal!!!) and live on your meagre EI with or without a job to return to. Don’t even start with your “unfairnes” BS. You have ZERO idea.

#193 Keith in Rio on 10.16.17 at 12:22 pm

A ‘caucasian’ can’t be an ‘immigrant’? You are some screwed up, boy. — Garth

—————-

?????

Why not ? My parents were immigrants to Canada and they are caucasians. I am a caucasian and I have immigrated to Brasil.

I am implying he is hiring by race only to exploit newcomers, so he can pay them less.

#194 Stan Brooks on 10.16.17 at 12:27 pm

Gerald Butts gave them 5 phrases to use:
We are dedicated to:
– gender equality
– ask wealthy Canadians to pay their fair share and close loopholes
– protect the middle class, give them child benefits
– our investments in infrastructure will help the economy
– we have competitive corporate tax structure and will protect small business owners.

And whatever question you ask them they come with exactly one of these answers, word by word, without any deviation as they are afraid to mess up the script!
Muppet show!

#195 Herb on 10.16.17 at 12:28 pm

Tax laws are universal. There are no special breaks for the wealthy.

Garth, at #80 Never Give Up on 21 April 2017

Decades-old tax laws that people faithfully adhere to are not loopholes. You have been had.

Garth, at #131 Valleyboy, above

Of course there are no special breaks for the wealthy, and tax laws indeed are universal. Unfortunately, the ability to deduct from, exempt, exclude, split artificially, off-shore or convert income to reduce tax is available only to those who earn enough to use these “universal” breaks. Everyone else pays the prescribed rates. Ergo, these breaks apply only to those whose pre-tax income is high enough to use them, hence are special.

Now, how did these faithfully adhered-to tax laws get into the Income Tax Act? A few years ago I asked in a comment how many figurative suits as opposed to shirt sleeves called on you during your tenure as Minister of National Revenue. You didn’t answer, but you didn’t have to, because we both knew the score: suits have their phone calls returned and get into that office, shirtsleeves don’t. No, it’s not a class distinction or attempt to divide, merely recognition of political clout.

Yes, there is extensive consultation before every budget or proposed tax change. Bank executives, professional associations (including the tax accountants and lawyers that may challenge the results in court), business schools, industrial groups, corporate executives, business owners, not to forget lobbyists, even trade associations, are happy to provide input to the Minister and staff of the Finance Department and other relevant departments, as well as individual members and applicable committees of Parliament. In other words, everyone who has an ox he wants to spare a goring and the influence to do so. And that is how the Income Tax Act wound up as a book of seven seals weighing two pounds.

If anyone thinks that tax laws are made solely in the public interest, they indeed are being had.

#196 Windsurfer on 10.16.17 at 12:40 pm

Hey Garth – when you were in government, what was the reaction inside the room and outside, when your gov’t. of the time brought up the discussion of taxes?
***

On TV as we speak, Morneau says he was cleared by the Ethics Commissioner on his holdings.

#197 Victor V on 10.16.17 at 12:47 pm

The investor behind The Big Short says Canada is ‘ripe’ for a severe housing correction: Steve Eisman, who rose to fame betting against collateralized debt obligations, says there’s evidence Canada’s housing market is starting to turn over

http://business.financialpost.com/news/economy/eisman-warns-canada-housing-heading-for-slump-cibc-most-exposed

#198 Victor V on 10.16.17 at 1:02 pm

Liberals to cut small business tax rate; aim to ‘simplify’ income sprinkling plan

http://www.bnn.ca/liberals-to-cut-small-business-tax-rate-aim-to-simplify-income-sprinkling-plan-1.884035

#199 Stan Brooks on 10.16.17 at 1:14 pm

#179 Pete on 10.16.17 at 9:45 am
Do small biz avoid taxes to the point everyone is now incorporating?

1)Personal income tax revenue dropping

For the first time since the recession in 2009, the province’s revenue from personal income tax actually went down, It was $30.67 billion this past year, a drop of 1.5 per cent from the 2015-16 figure. Perhaps more significantly, the income tax take was 4.6% lower than what the finance minister had projected in his budget for the year, a difference of $1.5 billion.

“This is highly unusual,” said Sheila Block, senior economist with the Canadian Centre for Policy Alternatives, a left-leaning think tank. “We don’t see a drop in personal income tax revenues generally at any point except when we’re in a recession.”

http://www.cbc.ca/beta/news/canada/toronto/ontario-government-revenue-kathleen-wynne-tax-1.4300960

—————————

What you expect after the top of the credit bubble?
All the money goes to mortgage payments, gets hoarded by the banks and their shareholders, so people have no money to spend and economy goes down?

What is so complex to understand in that? After every excessive credit bubble where credit grows exponentially, a cooling period follows aka Depression where excesses have to be liquidated and economy shrinks.

But the liebaral scum bags claim this is due to tax avoidance?

Hahaha, so glad that I left.
Is that Gerald Butts idea as well? To blame small Business owners?

#200 X on 10.16.17 at 1:16 pm

Haven’t heard/read all of the new small business tax details, but when they lead with the point of dropping the business tax, I have no doubts this will be a rob Peter to pay T2 outcome.

#201 Stan Brooks on 10.16.17 at 1:19 pm

#196 Windsurfer on 10.16.17 at 12:40 pm
Hey Garth – when you were in government, what was the reaction inside the room and outside, when your gov’t. of the time brought up the discussion of taxes?
***

On TV as we speak, Morneau says he was cleared by the Ethics Commissioner on his holdings.

———————–
Ethics commissioner is appointed by the PM, T2.
Do you expect them to be independent?
Hey, this is Canada,

#202 Dissident on 10.16.17 at 1:27 pm

#118 BS on 10.15.17 at 8:56 pm

Oh, and by the way, once a woman’s 12-month mat leave EI runs out, it runs out. She can’t apply to regular EI after that. She either returns to a job that’s still there (relatively speaking – they can change her job description or re-assign her to something different while she’s away) or she doesn’t because she’s been (legally!) ‘downsized’. There is no sustained EI post-mat leave. So, by all means, become a woman yourself and revel in this glorious entitlement.

#203 Stan Brooks on 10.16.17 at 1:29 pm

#179 Pete on 10.16.17 at 9:45 am

here is the answer for the shrinking tax revenue:
https://tradingeconomics.com/canada/money-supply-m2

M2 goes down, velocity of money goes down as credit growth slows down.

How do you expect higher taxes with such trend?

Just click max on the graph on the link to see how most of our ‘growth’ in the last 10 years was subsidized by exponential growth in the credit with very little real growth in the actual economy, even in nominal terms.

We have maxed out credit card.
Now what?
Looking for somebody to blame…..

Small Businesses it is today.

Tomorrow will be full time employees through the taxation of employee discount, benefits, etc.

Remember this is just a tax farm and you are a chicken in it.

Slaughter time.

#204 Mike in Edmonton on 10.16.17 at 1:32 pm

This just in…. The Liberals spent $212k on their budget cover, and $176k on last years. The Conservatives the year prior spent $600.

Truly disgusting waste.

https://ca.finance.yahoo.com/news/cover-charge-feds-spend-200k-budgets-front-page-163032271.html

#205 conan on 10.16.17 at 1:38 pm

#194 Stan Brooks on 10.16.17 at 12:27 pm

Liberals are the Muppet show?

If that is true, then the Cons are the Gong show. To be fair you did accomplish something, getting rid of the penny was huge….. And, the person who made the phone call, that set in motion the printing of a million action plan signs, blow my mind…………

On the negative side, all bark and no bite. All blather and no substance.

https://i.imgur.com/9L8mGr8.mp4

#206 TurnerNation on 10.16.17 at 1:38 pm

BNN at work flashed images of Millennial protestors placarding: $15 min wage fairness.

Sure and $30 would be fairer even.

Millennials’ problem they know only the free money. It grows on trees. Their boomer parents Heloc on bloated properties. Free easy money.

They have 15 years of tutelage under socialist curriculum with an endless budget (taxpayers and Ontario’s ex teacher premier).

Moar monies for me it’s only fair. Gibs me what’s yours!! Gimmie it.

#207 Tazi Bnu on 10.16.17 at 1:50 pm

#41 MF on 10.15.17 at 2:22 pm
#10 Rental Monkey on 10.15.17 at 12:00 pm
What tax benefit public servants enjoy? I think I missed something specific.

Start here. Check out the author. — Garth

-The post today highlights the flaw of trying to play division politics. The “us vs them business owner vs employee” angle was a failure because Canadians were too smart to fall for it.

Hopefully we are also too smart to fall for the stupid private vs public theme slithering its way onto this blog.

From the article:

“In ancient Roman times, the emperors looked to the Praetorian guards for their personal protection. To ensure their loyalty, the emperor granted the Praetorians special privileges, including a shorter period of mandatory service and higher total compensation than what the “market” required. It seems not much has changed in 2,000 years.”

I don’t know what this guy is smoking, but I am damn happy our police officers, border officers, political officials and the like are loyal to our country and not who ever can buy them off.

Moreover, public servants have to carry out whatever stupid policies our elected officials come up with, whether they believe in them or not. To believe our entire public sector is one uniform voting bloc is simply delusional.

MF
___________________________________________

Loyalty to their Home Country should’t have to be purchased. If someones loyalty can be purchased, then they were never loyal in the first place. You were just the highest bidder at that time, until a higher bidder comes along. Just like Trudeau said “A person shouldn’t start a company for the tax advantage.” Then a person shouldn’t serve the country to get rich. Most on the public payroll are paid, in total benefits, far above reasonable market rates. Teachers in Ontario are some of the highest paid in the world, but are we getting our money’s worth? Half of grade 6 students failed math, so I would think not.

Of course no one intelligent thinks public employees vote in one completely uniform block. I know a teacher that votes conservative; I went and bought a lotto ticket when I found out. It’s a generalization that has exceptions, but you can gather and use the info of the majority for some useful conclusions. That’s the whole point of the study of statistical math.

#208 crowdedelevatorfartz on 10.16.17 at 2:11 pm

@#188 Dissent
“Haha, yeah, the ‘engineer’ will have to do that, not some lowly bricklayer that the robot just replaced. Either upgrade your blue collar laborer status to engineer, or you’re ‘toast’. ”

+++++++

My my. Touched a raw nerve did we?

Engineers?

Pffft.

So 2016.

How about AI and THIS

http://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=14&cad=rja&uact=8&ved=0ahUKEwiMrO_Y3vXWAhVI5WMKHXjMD10QFgh0MA0&url=http%3A%2F%2Fwww.independent.co.uk%2Flife-style%2Fgadgets-and-tech%2Fnews%2Frobot-mother-builds-babies-that-can-evolve-on-their-own-10453196.html&usg=AOvVaw0BNoJajjx3n4FxgR3N2Hij

#209 Bytor the Snow Dog on 10.16.17 at 2:14 pm

DELETED

#210 crowdedelevatorfartz on 10.16.17 at 2:16 pm

@#192 Dissennt

My my .
Speaking from personal experience or are you a nurse in obstetrics?
I’ll stick to my blue collar existence rather than experiencing the similarity of pain of “passing a brick”……..

#211 Guillaume on 10.16.17 at 2:28 pm

#157 Dolce Vita

I am from France and immigrated to happily start a business in Canada as it is much more simple and costs less (many other good reasons to come first one is Canadian people are nice, welcoming and very friendly). Also the cheap price of Real estate drove us to invest in a small touristic town.

Every year 20000 french millennials from 24 to 35 apply for a two year permit only 8000 get it (working/vacation permit). Getting to Europe with cash for vacation is perfect, trying to make a living there is another story, though it is of course possible.
But this blog is not about immigration so I change the subject to suggest if someone want to look at what is a real estate disaster, look at Spain now ! They put everything into construction of housing units in the 90/2000 years and as a result they have huge numbers of empty units, even empty (ghost) towns. On the other side, young people have massively no jobs and stay at their parents home : banks have a lot of real estate related debt in their books that won’t be ever recovered, this was a national mismanagement, a lot of bad debt around there… I have read somewhere that Blackstone is heavily “vulturing” there.
M46BC

#212 chapter 9 on 10.16.17 at 2:28 pm

#178 Prairieboy43
“T2 & Bill-em, should dig out Liberal archives. Look how true Liberal leaders Paul Martin, Chretien, brought government expenditure under control.
PB43

Pretty simple, they cut billions in transfer payments to the provinces.

#213 AGuyInVancouver on 10.16.17 at 2:34 pm

And you wonder why people don’t go into politics. The insinuation Morneau went into politics to enrich himself is absurd. I also find comments like: “… the inherited wealth, the establishment marriage (McCain), the tax-avoiding corporate offerings, the lavish lifestyle, the $1 million salary..” unhelpful. Is inherited wealth bad, and if so, why are so many small business owners screaming about not being able to pass on their wealth etc to the next generation? Apparently even one’s choice of spouse is fair game, I guess Bill should have fallen for a pauper to satisfy someone’s criteria. And doesn’t expanding your firm from 200 employees to 4,000 warrant a million dollar salary? It’s not like he’s cleaning teeth in Mushaboo.

Wealth is fine. Hypocrisy, not so much. — Garth

#214 Lillooet, BC on 10.16.17 at 2:48 pm

Has InvestorsFriend been missing for some days?

#215 Lillooet, BC on 10.16.17 at 2:53 pm

according to Dolce Vita, all is good in Italy/Europe!
I lived and worked in Italy for 2 years and found racism is widespread.

#216 CBC and BM French property on 10.16.17 at 2:53 pm

#185 Stan Brooks on 10.16.17 at 11:30 am

Bill M should be fired immediately as well as the clueless panelist at CBC, because I can guarantee you: This will be not just the downfall of BM but also the downfall of Gerald Butts, T2 and CBC which should be closed as useless institution.

====

According to CBC news, the existence of the French property became public following a CBC investigation.

#217 Overheardyou on 10.16.17 at 3:13 pm

#10 Rental Monkey on 10.15.17 at 12:00 pm
What tax benefit public servants enjoy? I think I missed something specific.

Start here. Check out the author. — Garth

-The post today highlights the flaw of trying to play division politics. The “us vs them business owner vs employee” angle was a failure because Canadians were too smart to fall for it.

Hopefully we are also too smart to fall for the stupid private vs public theme slithering its way onto this blog.

From the article:

“In ancient Roman times, the emperors looked to the Praetorian guards for their personal protection. To ensure their loyalty, the emperor granted the Praetorians special privileges, including a shorter period of mandatory service and higher total compensation than what the “market” required. It seems not much has changed in 2,000 years.”

I don’t know what this guy is smoking, but I am damn happy our police officers, border officers, political officials and the like are loyal to our country and not who ever can buy them off.

Moreover, public servants have to carry out whatever stupid policies our elected officials come up with, whether they believe in them or not. To believe our entire public sector is one uniform voting bloc is simply delusional.

MF

What makes you think public sector employees are loyal to our country? They are loyal to the benefits. They are loyal to the salary. They are loyal to the job security. They are also human.

#218 Stan Brooks on 10.16.17 at 3:14 pm

#213 AGuyInVancouver on 10.16.17 at 2:34 pm

And why to you think is he in politics?
To serve the Canadians?
Well, he can then declare his French villa without a foreign corporation and pay some taxes here in Canada, including on sales/capital gains.

The real answer is:
1. To get even wealthier.
2. To get fame and become part of the big international elite.
Who do you think was he representing at the Builderburg’s conference? Canada?

These people become sociopaths when they become rich, they believe that laws do not apply to them.
Part of the big boys club.

The fact that he is arrogant and hypocrite just adds insult to injury.

It is very reasonable expectation that such complex and far reaching tax changes should be coordinated and accepted after careful considerations and long, long discussions. Including review of benefits of full time and government employee.

It is 4-5 years task if it has to be done properly.

I repeat, that such arrogance will not fly.
1. Liberals will be out of office by big margin
2. The tax changes will be reversed.

#219 Dissident on 10.16.17 at 3:18 pm

#208 crowdedelevatorfartz on 10.16.17 at 2:11 pm

Nope, merely stating facts. That’s precisely how an HR recruiter will see it.

That ‘mother’ bot is creating ‘baby’ bots, yes, not human babies. We’re still a long way from that.

#220 Memories of an Ex-Florest on 10.16.17 at 3:19 pm

#141 Smoking Man on 10.15.17 at 10:51 pm
When you are in drinking paranoid frame of mind.
This song is heaven. Found his grave and dropped a black rose.
My hero of all time.
https://youtu.be/SfU_ou9Fixw
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
There is no such thing as a real black rose that Mother Nature has produced. However roses can be tinted black to give a black colour appearance. We used to colour them, there are no black roses naturally.” Well, you might be a secret anarchist or just a fan of Gothic fiction, Halloween, vampires and all things dark. Anyway, black roses are not always associated with negative events and emotions, such as death, revenge, evil, mystery and the like. They could also mean a major positive change (death of something old) or be the symbol of deep hope and optimism, true romance, everlasting love or simply your signature flower. The only thing close to a black rose are the very dark red roses referred to as Black Magic Roses or Bacarra Roses.
All this time I thought you were a free spirited brightly coloured disco dancer and ABBA aficionado. Wow you must be bipolar to go between William Ledbetter and ABBA in the same posting time.

#221 Penny Henny on 10.16.17 at 3:40 pm

#214 Lillooet, BC on 10.16.17 at 2:48 pm
Has InvestorsFriend been missing for some days?
/////////////////

A vow of silence until the New Years

#222 Howard on 10.16.17 at 3:44 pm

#212 chapter 9 on 10.16.17 at 2:28 pm
#178 Prairieboy43
“T2 & Bill-em, should dig out Liberal archives. Look how true Liberal leaders Paul Martin, Chretien, brought government expenditure under control.
PB43

Pretty simple, they cut billions in transfer payments to the provinces.

———————————

Yup, and raided the EI fund.

All the while enriching themselves with Adscam whose participants reached the PMO.

That said, I will take Chretien/Martin over Twinkle-toes/Villa-boy any day.

#223 OSFI Bomb announced tomorrow on 10.16.17 at 4:04 pm

Get your popcorn ready, and sell your house….

https://twitter.com/BradBlakley3/status/920012539320197122

#224 Gravy Train on 10.16.17 at 4:14 pm

#214 Lillooet, BC on 10.16.17 at 2:48 pm

“Has InvestorsFriend been missing for some days?”

He went into self-imposed exile until 2018, because he thought Garth was picking on him. :)

#225 Stan Brooks on 10.16.17 at 4:18 pm

J2’s boss:

https://twitter.com/canadianpm/status/689906363003191297

Thanks to @georgesoros for sharing your insights on the global economic outlook and climate change #Davos2016 #WEF

That;s right folks.

#226 Smoking Man on 10.16.17 at 4:25 pm

T2 and Wild Bill Cave, lowering corp tax to 9 and putting limits on Income splitting.

I think it’s still fuzzy

#227 Ace Goodheart on 10.16.17 at 4:26 pm

So the capital gains tax is out, small business taxes are getting reduced down to 9% and the government is having some form of secret in camera meetings to try to figure out a way to dig themselves out of the hole they created by trying to tax small business persons’ retirement savings at 73%.

Oh and they still have no way of funding their pension plan.

And Morneau is likely gone.

#228 jess on 10.16.17 at 4:37 pm

211 Guillaume on 10.16.17 at 2:28 pm

Contingent Convertibles – CoCos
http://www.investopedia.com/terms/c/contingentconvertible.asp

http://www.euromoney.com/Media/documents/shared/euromoney/r_qt1309f.pdf

#229 Victor V on 10.16.17 at 4:56 pm

Loblaws’ corporate offices hit with 500 layoffs

http://www.bnn.ca/loblaws-corporate-offices-hit-with-500-layoffs-1.886216

#230 crowdedelevatorfartz on 10.16.17 at 4:56 pm

@#219 Dissident
“Nope, merely stating facts.
That’s precisely how an HR recruiter will see it.”

++++++

HR.
The only thing more annoying on a jobsite than the “safety Nazi’s” that require you to spend 15 minutes evaluating a 2 minute light bulb replacement………
HR.
Created to keep the “wrongful dismissal” litigation at bay.
HR
The only people who know how to “game” the “stress leave” better than the insurance company employees

HR workplace PC agendas and Safety Nazi’s…..the real reason Canadian Productivity is shit…….

#231 Pete on 10.16.17 at 5:27 pm

Garth can you do a mock example of how much tax a small biz guy who makes $200000 would pay in taxes assuming he was a service type guy?

#232 SCM on 10.16.17 at 5:31 pm

#228 Victor V on 10.16.17 at 4:56 pm
Loblaws’ corporate offices hit with 500 layoffs

http://www.bnn.ca/loblaws-corporate-offices-hit-with-500-layoffs-1.886216

——————————-

Damn. More layoffs. It’s almost like this boomer/conservative ideology of serving and worshiping corporate interests and the wealthy elites in the hope that it will trickle down, has been one giant scam.

Btw for the record, Loblaw Companies Ltd made $983 MILLION in PROFITS last year.

When is enough, enough?

Where the hell are the jobs going to come from for the millions of people we’re importing into this country? That is a legitimate question. Not a racist one. I’ve yet to receive an answer.

#233 MF on 10.16.17 at 5:32 pm

#217 Overheardyou on 10.16.17 at 3:13 pm

“What makes you think public sector employees are loyal to our country? They are loyal to the benefits. They are loyal to the salary. They are loyal to the job security. They are also human.”

We agree. They are human and not just one giant voting block like this blog is beginning to insinuate.

Btw, In the last ten years almost all public sector positions are contract and have zero security….just like the private sector. Salaries and benefits mean less when there is no security.

#207 Tazi Bnu on 10.16.17 at 1:50 pm

I work with a lot of supply teachers and a close family member was a teacher.

The problem is with the system. Particularly how parents have complete power now. Teachers are totally hobbled. We have to look in the mirror if you want to see why we have some failures.

MF

#234 SCM on 10.16.17 at 5:33 pm

#179 Pete on 10.16.17 at 9:45 am

Corporate profits are soaring due to Canadian workers’ wages being suppressed. Thus the lack of higher personal income taxes. Pretty simple and obvious explanation.

#235 AGuyInVancouver on 10.16.17 at 6:42 pm

#218 Stan Brooks on 10.16.17 at 3:14 pm

And why to you think is he in politics?
To serve the Canadians?
Well, he can then declare his French villa without a foreign corporation and pay some taxes here in Canada, including on sales/capital gains.
_ _ _
Since Garth has been in the belly of that beast, I’d ask him. I suspect like most, Morneau thought he had talents he could offer and wanted to make some sort of difference. The suggestion any multimillionaire would go through the political ringer just to make a few extra bucks is ludicrous. The irony is Cons would usually salivate at a business success like Morneau entering gov’t. Do you think Flaherty’s career as an MVA lawyer gave him a better skill set to be Finance Minister?

#236 Dissident on 10.16.17 at 7:21 pm

#231 SCM on 10.16.17 at 5:31 pm
#228 Victor V on 10.16.17 at 4:56 pm
Loblaws’ corporate offices hit with 500 layoffs

http://www.bnn.ca/loblaws-corporate-offices-hit-with-500-layoffs-1.886216

——————————-

Damn. More layoffs. It’s almost like this boomer/conservative ideology of serving and worshiping corporate interests and the wealthy elites in the hope that it will trickle down, has been one giant scam.

Btw for the record, Loblaw Companies Ltd made $983 MILLION in PROFITS last year.

When is enough, enough?

– – – – – – – – – – – – – – – – – – – – – – – –

It’s called creating artificial growth on the books. If you chop labor, you increase your revenue margin temporarily and tah-dah, the trendline of your company ‘stock’ keeps going up, and shareholders are happy.

Sometimes companies get acquired and merged, and people get laid off, and then corporate HQ realizes, whoops, we need to re-hire some people, we laid off too many. I’ve seen this happen to friends who’ve seen their laid off buddies get rehired a year or two later, and I’ve seen it behind the scenes from the M&A side.

Its all about how you can financially engineer your bottom line. That’s what all the consulting giants do, that’s what private equity does, its what everyone does.

The more interesting question is, why did Loblaws need to do that?

#237 Dissident on 10.16.17 at 7:29 pm

#231 SCM on 10.16.17 at 5:31 pm

Damn. More layoffs. It’s almost like this boomer/conservative ideology of serving and worshiping corporate interests and the wealthy elites in the hope that it will trickle down, has been one giant scam.

– – – – – – – – – – – – – – – – – – – –

Oh, and its not just a Boomer ideology. Its a Gen-X-er and a Xennial and a Millennial one too. I know cause I’ve worked with ’em. Might as well just call it a ‘corporate agenda’. Boomers aren’t the only ‘bad guys’ out there. Guilty parties in all age groups. I think its high time to adjust your ‘anti-Boomer’ bias, dude.

#238 Tony on 10.16.17 at 8:02 pm

Re: #233 SCM on 10.16.17 at 5:33 pm

Corporate profits are going nowhere, they’ve been flat to down since 2013. If the accounting was honest profits would be down for the last 11 years.

#239 waiting on the westcoast on 10.16.17 at 8:15 pm

233 SCM on 10.16.17 at 5:33 pm
#179 Pete on 10.16.17 at 9:45 am

“Corporate profits are soaring due to Canadian workers’ wages being suppressed. Thus the lack of higher personal income taxes. Pretty simple and obvious explanation.”

Oh look… Poor Scared Canadian Millennial is a Marxist.

If Canadian workers pay is so low, maybe they should ask for raises or shop for a better job or unionize or start their own business. Oh, but they can’t. They can’t beat the system. It’s amazing how many people convince themselves of why they shouldn’t bother upping their game….

Oppression stories / victim stories are fodder of people who relinquish their autonomy to the machine.

And sadly, when you would rather tell yourself that you are victimized rather than putting in the energy and effort bettering yourself and your circumstance, you really are doomed.

#240 Buford Wilson on 10.17.17 at 5:20 am

justin will replace Bill with Harjit, Garth. Not Nav.

#241 Darryl on 10.17.17 at 10:36 am

New Rules eh ?
I think I just heard the distant scream of 40 thousand agents

#242 Spock#2 on 10.18.17 at 4:32 pm

Oh fuddle duddle everyone, let the little boy play in his sandbox, it’s almost his selfie time.