It’s time

Those on the left see government as the solution. On the right, it’s viewed as the problem. Most moisters are lefties. Most wrinklies aren’t. People without wealth want big taxes (on others) and more services. The affluent want to keep more of what they made, and think penalizing success is moronic.

So in a world where income disparity is widening, we have conflict. Righties and tax-cutters currently rule America. Lefties and tax-hikers reign here. Taxes, spending and the size of government in Canada have all bloated lately. The T2 government believes this is what its base wants, and voted for. Probably correct. With a federal election in 2019 pitting Justin against Jagmeet for the same demographic, the less-government crowd could be squished. Let’s see how young Scheer deals with that.

In the meantime, strap a bandana on your forehead, smear on the face camo and grab a carbine. The resistance, she is here.

Sick of being milked? There are dozens and dozens of actions individuals and families can take to reduce, shunt, defer, avoid or escape tax – all of which are completely legal and, if widely known, would seriously twist socialists’ shorts. So I am begging you, do not circulate this post. If captured, deny it. If tortured, we never met.

Herewith, Ten Things the PM Does Not want You to Know:

< 1 > You can get free money to educate your children simply by opening an RESP using cash the government sent you because you have children. The guaranteed return on investment is 20%, which beats buying a semi in Toronto. The rules allow you to go back and make up missed contributions (collecting the grant a year at a time), and if your kid becomes a rock legend instead of a dentist most of the tax-free growth can be wrapped inside your RRSP.

< 2 > If you think income-splitting is kaput, you’re mistaken. You and your lower-income squeeze have a plethora of ways to starve Mr. Socks. If you make more money, pay your spouse’s taxes so s/he can invest at their lower tax rate. Ditto for the household expenses. You can certainly open a spousal RRSP, writing off the contribution against your high taxes but making the money the property of your less-taxed spouse. Open a joint investment account, splitting taxable gains instead of paying them at your fat rate. And lend your spouse money to invest at the CRA’s proscribed and silly rate of 1%. So long as s/he pays you interest (tax-deductible) no money made by the investments will be attributed back to you.

< 3 > Next week, Tuesday, max your TFSA contribution for the year – which is $5,500. Do not put your tax-free account money into a HISA or a GIC or anything else [email protected] suggests. She’s seductive but toxic. Instead insist on a healthy mix of growth-oriented, equity-based exchange traded funds, then resist the urge to diddle with them every time markets gyrate. Remember that when you retire your bloated TFSA will generate a steady stream of cash flow to fund your life, and not a sous will be counted as taxable income. No OAS clawback. Take that, Billy!

< 4 > Speaking of tax-free accounts, your accumulated limit for 2018 will be $57,500. Starting to be serious money, especially when a couple can double that. So don’t just fill up your own TFSA, gift money to your spouse so s/he can do that same. None of the gains will be attributed back to you for tax purposes. Also, if you trust your adult children (Warning: they could be commies), then fund their accounts as well – no attribution, but you may have to use force at a later date.

< 5 > Don’t forget the registered retirement account, either, which is actually more of a tax deferral device than a way to fund your later years. RRSP room jumps with your income, so it’s of greatest benefit to those old, rich, high-earning guys that everyone currently hates. Revenge. Sweet. Having a ton of RRSP room sure helps if you get a retirement package or a pension to commute, so bear that in mind. Meanwhile you can borrow money to invest, then use the refund to pay down the loan, ending up with free equity. Or just transfer assets you already own into an RRSP (called a ‘contribution in kind’) and Justin will send you money for selling yourself something you already owned. There are no words.

< 6 > Yes, effective Monday, Bill Morneau is dropping the hammer on sprinking. Business owners will no longer be able to split income with their spouses, but girlfriends and professional escorts are okay. So your wife or husband may have taken an equal risk and contributed financially, but they can no longer collect tax-efficient dividends or an income stream unless employed. So, hire them, and do it by Friday.

< 7 > If you’re an investor who bought a turkey asset and lost money, the rules let you deduct that mistake from the proceeds of an investment that did work out. Try that anywhere else in life. Tax losses can be carried forward indefinitely but if you wanted to sell and deduct the loss from a profit you made on something in 2017, you’re reading this one day too late. Remember next year you need to dump the loser at least two days before the calendar runs out.

< 8 > Turning 71 next year? Don’t fret. It’s the new 51, but this means you’ll have to convert your RRSP into an income-producing thing called a RRIF. Going forward this income will be added to all other money you make and could affect your ability to collect government pogey. But you get a final piece of revenge. The RRIF conversion need not happen until the end of the year and meanwhile you can make an RRSP contribution that will more than wipe out the impact for the next year or two. Plus if you married a babe younger than you, contribute in her name.

< 9 > Borrowing to invest increases risk, but it sure is tempting. A secured line of credit against your house costs 3.7% and the interest is 100% tax-deductible. Meanwhile a balanced portfolio in 2017 returned 11%. Last year it was 8.5%. Looks like more is coming. So you can keep all that equity sitting in a house doing diddly, or put it to work. Just promise me you will not buy Bitcoin.

< 10 > Move to Nunavut. Seriously. Where you live in this frozen beaver sanctuary affects your overall income tax rate, since provinces have different amounts they layer on top of the federal take. Nunavutians therefore pay more than 6% less than Canadians in many other jurisdictions. Alberta used to be cheap, too, but then the socialists took over.

Resist.

198 comments ↓

#1 Millenial calgary on 12.27.17 at 5:36 pm

:0

#2 SunShowers on 12.27.17 at 5:36 pm

Can’t wait to vote for Jagmeet!

#3 PPC on 12.27.17 at 5:38 pm

Watching the social fabric that is Canada and the liberal west shred, tear, and rip apart has given me bottomless joy these past 12 months. Long may it continue.

A toast, to the death of western liberal civilization and all it represents in the New Year.

Signed, Pro-Putin-Xi “Canadian”

#4 Kelsey on 12.27.17 at 5:44 pm

Too many Canadians rely upon the government for their livelihoods, either directly or indirectly (e.g. students with government-backed loans, tax lawyers, government workers, academics, university administrators, welfare recipients, pensioners without savings, etc.) The unproductive classes now overwhelm the producers which is why so many commenters here seem to be thinking about “Going Galt”.

#5 mitzerboy aka queencitykidd on 12.27.17 at 5:47 pm

happy happy happy 2018

#6 dakkie on 12.27.17 at 6:00 pm

Every Time Real Estate Becomes THIS Expensive, A Recession Happens Right After!

http://investmentwatchblog.com/every-time-real-estate-becomes-this-expensive-a-recession-happens-right-after/

#7 binky barnes on 12.27.17 at 6:02 pm

I plan on putting my excess cash into Wayne Gretzky rookie cards. The Mrs. thinks I am crazy, but we will see. Have a great 2018 Garth, and thanks for your continued commitment to the blog–daily reading for me.

#8 YVRMC on 12.27.17 at 6:06 pm

Copy that. Top up TFSA , don’t buy bitcoin ,all over it …

#9 Guy in Calgary on 12.27.17 at 6:11 pm

You can also “get divorced”. Top earner deducts the spousal support and the lower income earner receives the support and has it taxed to them :)

Ez Pz

#10 Bobby on 12.27.17 at 6:13 pm

Just think, what would the lefties do when people paying the majority of taxes decide there is no point in working any longer and decide to stay home?

#11 Nonplused on 12.27.17 at 6:24 pm

I never believed I’d live to see the day the NDP were governing Alberta. Liberals, maybe, but NDP???? I still can’t really believe it happened. Some of those candidates were just warm bodies, few had any experience. In one riding they elected a pot smoking college student. Her Facebook page got taken down right promptly, too many questionable posts. But she won anyway and now she gets $127,000 a year to do whatever Nutley tells her to do.

I personally blame Danielle Smith. Had she not crossed the floor she would probably be premier now. The NDP won the popular vote in very few ridings, the total of PC and WR votes combined being higher. Nutley got through because the Right was split and the left didn’t care who they were voting for as long as it wasn’t the right. The Liberals has already imploded so we ended up with an “anyone but Trump” vote on the left that Nutley exploited with great success. Had the traditional Liberal voters voted Liberal, we’d have had a coalition government.

Oh well we’ll see if the new “UCP” party can gain enough momentum to right the wrongs next time. They have their work cut out for them. “You See Pee”, who thought of that name??? Always run your party name past a 10 year old boy before you adopt it.

Oh well the good news is that there will only be one name on the ballot on the right next election, so we will be able to see if Alberta really has gone socialist or whether this was just another Preston Manning thing gone wrong.

#12 AK on 12.27.17 at 6:27 pm

“Let’s see how young Scheer deals with that.”
————————————————————

I believe that young Scheer will be the next Prime Minister.

#13 BillyBob on 12.27.17 at 6:36 pm

Go one better than moving to Nunavat and expatriate from Canada entirely. Ultimate way to starve that sock-flaunting fool and it’s a big, interesting world out here.

Or, don’t. But know that you have choices now more than at any point in history. No excuses, no complaining.

#14 Fish on 12.27.17 at 6:39 pm

#10 Bobby on 12.27.17 at 6:
sell the house, get devorce, move to milton, take the train, then 1/2 walk to Bay

#15 Loonie Doctor on 12.27.17 at 6:43 pm

Thanks Garth for keeping the resistance alive. I have used your tips 1-7 for years and added #9 a couple years ago. Just saying, some that you know some people on here do listen to your advice.

For me, paying my wife to do the billing and manage my practice has been not only great for shunting income, but nothing beats having a manager/biller with a vested interest in your business making money. I have seen a number of my colleagues lose big money over the years because their billers/managers underbilled (it sometimes takes some extra paperwork and hoops to jump through for OHIP to cough up the money for services provided). I remember one friend found several months of stale-dated billings stuffed in a drawer in their secretary’s desk office rather than submitted. It pays to be sleeping with your billing agent, unless you are married to someone else in which case you will pay :)

#16 Pete on 12.27.17 at 6:46 pm

Harper has Ruined the conservative name for decades to come. Same with that Mike Harras monster. Brown will lose like a loser and no one even cares what Dirty selfish CON will run for federal. I personally hate every sellout party. Hopefully we get a minority.

#17 IHCTD9 on 12.27.17 at 6:46 pm

#2 SunShowers on 12.27.17 at 5:36 pm

Can’t wait to vote for Jagmeet!

——-

Jagmeet is looking good, (by that I mean bad) but I’ve yet to determine if he is indeed better (by that I mean even worse) than Trudeau.

I’ll be voting for the best (most horrific) candidate out of all of them.

Once the taxes really start piling on to cover gender equality issues in Saudi Arabia, random multi-million dollar apologies, fighting the sexist climate change etc… I’ll enjoy not paying said taxes.

Garth has the strategy and the mindset nailed down solid with this post. For you regular working stiffs like me, I’ve already detailed many additional, more passive ways to pay them less. I don’t have to, but I want to.

#18 AGuyInVancouver on 12.27.17 at 6:47 pm

Why do you hate public transit, universal healthcare, or all the other public benefits tax revenue brings?Conservatives just don’t get it, the American Era of Me, Me, Me is drawing to a close. Trumpism is it’s death rattle. Socialist Europe has shown you can build more pleasant places to live and China’s Communist/Capitalism has shown in can out manufacture America. The era so many Cons worship toxified the planet and now a younger generation will have to repair the damage. The coming era of AI will mean government will have to redistribute even more wealth to keep angry young men pacified. The Conervatives may hang on as a rump catering to Alberta and its Tar-sand Mini-Me Texans, but that’s it.

#19 Democracy Is Mob Rule on 12.27.17 at 6:49 pm

#10 Bobby on 12.27.17 at 6:13 pm
what would the lefties do when people decide there is no point in working any longer and decide to stay home?
______________________________________________

That is the decision that I made. I retired early and took CPP at age 60 to reduce my yearly taxable income. My income dropped by 50% but my taxes dropped 80%. My net hardly changed. I wasn’t rich enough to go offshore, so I stayed and did what the system encouraged me to do. In retrospect, I should have done it sooner. If you can’t beat ’em, quit.

#20 JSS on 12.27.17 at 6:49 pm

Suppose if Jason Kenney becomes premier of Alberta.
Will he be able to revert the province back to the good ol days?

#21 Bezengy on 12.27.17 at 6:51 pm

We, the government, reserve the right to change the rules of this game any time we need to buy more votes.

#22 Randy Cross on 12.27.17 at 6:54 pm

Maximize your Entitlements & After-Tax Dollars and Minimize your taxes. F’Em All.

#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm

Let’s be honest. Boomers ran up this debt. Not millennials. Millennials haven’t been voting long enough.

You want to put $17.8B of the $650B on mils ok. I’ll give you that.

NewsAlert: Ottawa says federal deficit for 2016-17 was $17.8 billion
http://business.financialpost.com/pmn/business-pmn/newsalert-ottawa-says-federal-deficit-for-2016-17-was-17-8-billion

The rest is on you greedy old bastards.

Boomers cut taxes on themselves, on the rich, on corporations, and funded it all on the national credit card. Making up insane trickle down theories that’s it’s going to all pay for itself with unicorns, leprechauns, and Betamax VHS pixie dust.

Now boomers are bankrupting provincial and federal coffers with their incessant demand for healthcare. What a coincidence that the worst generation of all time is also the unhealthiest. All those broken knee and hip operations are really adding up.

I say we take away healthcare privileges from the boomers until we get our budget straightened out. Either that or a wealth tax on boomers.

I’m done being kind with you motherpuckers.

#24 Screwed Canadian Millenial on 12.27.17 at 6:58 pm

You want to put $17.8B of the $650B on mils ok. I’ll give you that.

NewsAlert: Ottawa says federal deficit for 2016-17 was $17.8 billion
http://business.financialpost.com/pmn/business-pmn/newsalert-ottawa-says-federal-deficit-for-2016-17-was-17-8-billion

———————-

I should add. That entire deficit and then some is merely the interest on the debt you boomers racked up.

#25 Fake News Again on 12.27.17 at 6:59 pm

#165 Fake News Again on 12.27.17 at 3:35 pm
When will people understand these tax increases are 100% to support the parasite called GOVT.

You mean like education, health care and national security? – Garth

__________

So your suggesting that education, health care and national security means a “FREE PASS” for Bloat, Waste and Govt Worker Entitlement? The 3 levels of Govt in Canada waste BILLIONS of dollars that could go towards tax cuts making the rest of the country wealthy not just the Govt Worker Entitled.

#26 Danny on 12.27.17 at 7:08 pm

10 good points….Thanks……..many were available during the Harper era anywhere.
About previous blogs about lefties and those on the right
and about how great the US of A will be because of those tax cuts.

I say.
1. Don’t count those Trump chickens before they hatch.
We need more than 2 years before the results. I bet you some of those Trump eggs are hollow. Like the promoter.

2. I doubt even the Harper team would not have thought that Trump driving up the debt….big time…was a good thing ..I thought socialists did those things and conservatives criticized? This is a confusing time.

3.1950 my parents immigrated to US of A….soon after they chose Canada instead. I thank them….or otherwise I would have most likely been sent to fight in Vietnam.
Probably would not have had enough money to pay a doctor to say I had a spur in my foot…..like privileged Trump had.
4. I choose Canada over the US these days…….more caring here….quite the contrast to the fear mongering coming from the White House and stirring up the crap in the middle east.
5. Happy to live in Canada and proud to be a Canadian.
6. Thank you Tommy Douglas for driving the health care initiative……and focusing our taxes towards helping those unfortunate to be sick…..instead of military expenditures like in the USA.
7,8,9, 10. Count your blessings in this country. They will be more than 10.

#27 Felix on 12.27.17 at 7:10 pm

#11. Get rid of all your dogs.

Compared to politely asking a cat to let you share your home with it, dogs are crazy expensive as well as stupid.

Every two years of having a dog versus a cat will cost you an extra $5,500, if not more, in food, amenities, non-deductible/non-income-declaring dogwalkers, vet bills and more.

That’s one full year’s worth of TFSA contributions. Over about thirty five years, that’s about $500,000 extra cash in your portfolio for fun and frolic.

(Of course, owning a stupid dog will also inevitably make you more stupid, limiting your own career advancement prospects and income, likely costing you another million bucks or more over the same time period. Dog owners are in denial about this, of course)

Think, humans.

Meow.

#28 Arctic Gringo: Qalunaaq on 12.27.17 at 7:11 pm

” Move to Nunavut. Seriously. Where you live in this frozen beaver sanctuary affects your overall income tax rate, since provinces have different amounts they layer on top of the federal take. Nunavutians therefore pay more than 6% less than Canadians in many other jurisdictions. Alberta used to be cheap, too, but then the socialists took over.”

Done that, still here. There are some tax advantages, yes. But we still pay an arm and a leg for most basic goods and services.

However, don’t forget to add in Northern Residents Deductions (T2222) for more government pogey. T2 increased NRD by 2 grand a couple years back.

The correct reference to residents of Nunavut is “Nunavummiut”, not Nunavutians.

#29 J. Canuck on 12.27.17 at 7:12 pm

To #13 Billy Bob

Go one better than moving to Nunavat and expatriate from Canada entirely. Ultimate way to starve that sock-flaunting fool and it’s a big, interesting world out here.

Or, don’t. But know that you have choices now more than at any point in history. No excuses, no complaining.
**********************
Great idea BB. Head down to the U.S., and don’t come back.

And I’m sure you’ll save so much money on taxes that you’ll be able to pay for a triple bypass out of your own pocket. No excuses, no complaining.

#30 Stewie on 12.27.17 at 7:22 pm

I totally agree with April Brockman’s post a few days back about how poverty is a disease upon our society, such as negatively affecting the property values in Toronto, one of the richest and best cities in the world for gender equality.

As a white Conservative non-binary male, I don’t get why strong men and able-bodied women are unable to get a job rather than leech off our tax dollars.

These scumbags learned their lesson under Mike Harris when he cut welfare assistance rates to prevent welfare leechers and idle men.

We need to follow the route of Trumponomics, and cut welfare rates to ZERO, and encourage the unemployed to find a job. We can increase employment by cutting taxes for corporations so that the wealth can trickle down to the poor and lazy.

#31 Damifino on 12.27.17 at 7:23 pm

#12 AK

I believe that young Scheer will be the next Prime Minister.
————————————-

Do you just believe it, or do you have a supporting rationale? If so, I’m all ears.

#32 Mike in Toronto on 12.27.17 at 7:24 pm

#9 Guy in Calgary

Divorce also lets you declare two primary residencies, and qualify for more child benefits!

Do it for the kids!

#33 X on 12.27.17 at 7:26 pm

Most moisters are lefties. Garth

For now…after a few years of seeing what/how gov’t wastes their hard earned money, the shift will be to the right.

#34 FOUR FINGERS WATSON on 12.27.17 at 7:27 pm

Here’s the deal : The have nots outnumber the haves. Prepare to lose your more of your goodies.

#35 Ace Goodheart on 12.27.17 at 7:28 pm

RE: ” Move to Nunavut. Seriously. Where you live in this frozen beaver sanctuary affects your overall income tax rate, since provinces have different amounts they layer on top of the federal take. Nunavutians therefore pay more than 6% less than Canadians in many other jurisdictions.”

Yes, they do. Until they go grocery shopping:

http://www.cbc.ca/news/canada/north/nunavut-food-price-survey-2016-1.3650637

Nunavut, home of Northern Mart, $20 pineapples and $30.00 bags of apples.

Oh and your community may be dry (no, that does not mean it won’t rain or snow, it means you have to sneak your booze in by bribing a bush pilot)

#36 AB Boxster on 12.27.17 at 7:31 pm

#23 #24 SCM

Another pile of rubbish from the blog’s token entitled millenial.

So tiring to read your identity based, SJW nonsense.
Too often to comment.
So little of value to say.

#37 SunShowers on 12.27.17 at 7:32 pm

#17 IHCTD9
Once the taxes really start piling on to cover gender equality issues in Saudi Arabia, random multi-million dollar apologies, fighting the sexist climate change etc… I’ll enjoy not paying said taxes.
———————————————–

Really? :(

What if we gave it a really catchy name like the “Guillotine Prevention Tax?”

Would you be ok with paying it then?

#38 Lead Paint on 12.27.17 at 7:34 pm

#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm
” say we take away healthcare privileges from the boomers until we get our budget straightened out.”

I’m very proud of you, you finally have proposed a SOLUTION instead of just whining and complaining. This is huge growth for you, and much more than many are capable of. Irrespective of the merits of your argument or solution, solving problems – or people with the ability to do so – is what society needs.

Your proposed solution will probably take a lot of criticism but don’t give up. Your idea can be refined and improved. You can *contribute* to society by developing a mature proposal on how to deal with deficits and healthcare, major issues or our times and one your generation will inherit.

I wish you luck.

As per the specifics of your proposal, it sounds like you are advocating a voucher system where each person gets a certain amount of healthcare dollars they are able to spend. You propose to do this based on age, and then group people by age and then limit that group to a certain amount of money. There are pros and cons to your approach. Please elaborate.

Or are you just trolling? Perhaps you are capable of more than that.

#39 crowdedelevatorfartz on 12.27.17 at 7:34 pm

@#12 AK minus the 47
“I believe that young Scheer will be the next Prime Minister….”
+++++

When Pigs fly.
He’s been nonexistant. Unless thats his strategy.
No one knows who he is.

#40 joblo on 12.27.17 at 7:43 pm

11. Get a Government job, get paid by some other suckers taxes and a nice pension plan to boot.
Gotta luv Kanada!

#41 Smoking Man on 12.27.17 at 7:45 pm

DELETED

#42 Yorkville Renter on 12.27.17 at 7:46 pm

trying to understand how “gifting” money to lower-income spuse works for a TFSA… her $$$ in my $$$ and vice-versa… Is it an actual CRA thing, or is that just for an RRSP?

#43 T on 12.27.17 at 7:46 pm

#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm
Let’s be honest. Boomers ran up this debt. Not millennials. Millennials haven’t been voting long enough.

You want to put $17.8B of the $650B on mils ok. I’ll give you that.

NewsAlert: Ottawa says federal deficit for 2016-17 was $17.8 billion
http://business.financialpost.com/pmn/business-pmn/newsalert-ottawa-says-federal-deficit-for-2016-17-was-17-8-billion

The rest is on you greedy old bastards.

Boomers cut taxes on themselves, on the rich, on corporations, and funded it all on the national credit card. Making up insane trickle down theories that’s it’s going to all pay for itself with unicorns, leprechauns, and Betamax VHS pixie dust.

Now boomers are bankrupting provincial and federal coffers with their incessant demand for healthcare. What a coincidence that the worst generation of all time is also the unhealthiest. All those broken knee and hip operations are really adding up.

I say we take away healthcare privileges from the boomers until we get our budget straightened out. Either that or a wealth tax on boomers.

I’m done being kind with you motherpuckers.

———

Did you go to school? Have you ever visited a doctor? How about public transit, take that lately? You claim everything is the fault of boomers but I am certain you gladly take full advantage of public services. So let’s try this one on for size. How about we cut all public services for millenials as, for the most part, our millennial generation has contributed nothing but whining diatribes on blogs. See how that shoe fits.

You never respond to me and I know why. You are too scared of confrontation. You have been coddled too much and for far too long.

Myself and others like me will be footing your bills for the rest of your life (our lives) as you are part of the unproductive ‘me’ society. You are worthless, a whiner, an unproductive moron with too much time to find others to blame for your own incompetence and failures.

I will be calling you out from here on – as I am from your own generation and everyone needs to understand you speak for a minority of losers.

You are done being nice? Please. You are just done.

#44 akashic record on 12.27.17 at 7:48 pm

Sadly, not much ammo to resist with. Especially if you maxed them out already over the years.

The best option still seem to be to tap into taxpayer’s funded government subsidies as private entrepreneur and collect tax-credit loots for being a “job creator”, “Canadian content creator”, “exporter hero” that delivers political support spending public funds to enrich private business.

I also wonder what KPMG’s off-shore ideas are at this time.

#45 just a dude on 12.27.17 at 7:54 pm

Garth, thanks for hammering home these great insights yet again. Maybe we’ll collectively get through to at least some of the younger ones & extreme lefties.

During a Christmas gathering, I did my best to convince a fellow gen Xer as well as a millennial of the benefits of a diversified portfolio compared to today’s preferred one-asset (housing) strategy. The gen Xer shared multiple unfounded opinions regarding the benefits of investing strictly in housing. I did my best to gently counter these with some basic logic and examples but in the end I just managed to get him agitated. The millennial just zoned out even though I tried to get him to participate in the conversation. Sigh.

I’m nowhere near the wordsmith you are so I failed miserably. I shall however continue to fight the good fight. It’s too damned important to do otherwise.

#46 mike from mtl on 12.27.17 at 7:56 pm

Got my pocket change ready to load into TFSA Jan 1st. So far looking good poloz peso is up just in time.

Will it be 2020 by the time 6k is allowed? Or will I have it all offshore by then? Which first hmm?

#47 Ace Goodheart on 12.27.17 at 8:00 pm

RE: #4 Kelsey:

“which is why so many commenters here seem to be thinking about “Going Galt”.

More Ayn Rand stuff.

Won’t work.

What we need to figure out is how to keep the children of the wealthy out of government. That is really the solution to all the problems we face.

Look at Harpo. People loved to hate him, but you had to give him credit, he was not a wealthy kid. Came from a middle class family and worked his way up the hard way. Focused his govt on reducing taxes and cutting out all the socialist trust fund kid nonsense at the source. He ended up selling out, but most of them do (our Bay street towers are full of former PMs and Premiers working as advisors).

Or Barack. Once again, a keenly sensitive, self made person, who governed with all of the subtle awareness of a tigress on the hunt.

Contrast this with our current crop of trust fund nutjobs. Trumpster in the States, and up here we have Party Boi pot head and his galloping sidekick. Trumpster is genuinely dangerous. T2 and Wild Bill are just a combination of absurd and ridiculously expensive.

We need more common, ordinary, self made people in government. People who came up hard and know how tough it is on the streets. Trust fund kids should not be in politics. Period.

#48 toronto1 on 12.27.17 at 8:01 pm

Nice post Garth

as more and more taxes are levied at every level of govt expect the population to respond in kind by either withdrawing their after tax dollars from the economy or by taking advantage of the strategies mentioned.

the other way to look at it and this is how i try to live is that every $ saved is another dollar that i can have working for me in investments, RRSP etc..

so i brown bag my lunch, bring my own coffee on the drive to work, maintain and drive my paid off 8 year old vehicle, used kijji to purchase slightly used tools or equipment (like the $800 snowblower i purchased for $200- just needed a tune up and carb cleaning)

I shop for family birthdays and Christmas off season (ie, great deals on sweaters and winter gear come March, buy summer stuff in Sept etc..)

the money i save i invest and it keeps giving and giving,

its hard to start off the routine but easy to do once you get going on it.

#49 Costco Nation on 12.27.17 at 8:02 pm

So, we’ll switch from voting hair to voting twisted moustache. Way to go. Truly a Costco Nation. I guess the final fix should be curly.

#50 Andrew Woburn on 12.27.17 at 8:18 pm

Not sure this is right but an interesting concept.

– Forget the High-Speed Rail Fiasco: Whisper-Quiet Electric Airplanes Will Transform Travel in America

“Suddenly all those little airports across the country left for dead will bounce back to life as whisper-clean new airplanes recall a golden age of American air travel.”

https://www.thedailybeast.com/forget-the-high-speed-rail-fiasco-whisper-quiet-electric-airplanes-will-transform-travel-in-america?ref=home

#51 Ace Goodheart on 12.27.17 at 8:24 pm

The header pic BTW is awesome quite ridiculously.

My favourite animal is the owl. We have barn owls, great horned owls and snowy owls at our cottage. The night time calls are one of the best things about spending the summers up there. Spooky, eirie and surreal calls that seem to come from another dimension. There is nothing better than an owl call in the middle of a hot August night.

#52 conan on 12.27.17 at 8:24 pm

People without wealth want big taxes (on others) and more services. The affluent want to keep more of what they made, and think penalizing success is moronic. -Garth

Seems to me that we have been rolling with trickle down economics for decades and it is not working. The high end peeps did not spend their trickle down money, nor did they use that same trickle down money to create any jobs. Even had to bail out the banksters for what seemed to many, a serious crime against the planet’s financials

Politics being what they are, its now Mr slightly left of the Conservatives turn to fix the mess. Looks like the Liberals would rather give money to people who will spend it, so that economic activity is created.

I agree with trying it.

#53 TheSecretCode on 12.27.17 at 8:29 pm

3600 properties in the Fraser Valley Lower Mainland (not including metro Van) – listed since Christmas Eve.

200ish listed around Toronto / Mississauga since Christmas Eve.

What on earth is going on in the Fraser Valley Lower Mainland?

#54 Ace Goodheart on 12.27.17 at 8:30 pm

RE: “#18 AGuyInVancouver on 12.27.17 at 6:47 pm
Why do you hate public transit, universal healthcare, or all the other public benefits tax revenue brings?”

I love transit, healthcare and universal benefits. I hate special interest groups, NGOs and socialist me and my cause first organisations.

If they would spend my tax money on improving health care, universal benefits and transit, I would gladly pay them what I owe and more.

My problem is, they don’t. T2 donates millions to NGOs that are run by close family friends. The entire universe is a “cause” for him and he gladly spends my money funding it. Meanwhile the Yonge subway line in Toronto is beyond capacity and you have to wait in line to get on a train (and the lines are long, believe me). We get no new subways, but T2’s friends who are running NGOs in Africa get millions. Close family friends who are also professional lobbyists get millions. Special interests get money to brainwash the masses to believe in their causes, which change day by day. Nothing useful is done with any of this money.

If governments would actually fund health care, public transit and benefits for everyone, things would be a lot better.

#55 Andrewt on 12.27.17 at 8:32 pm

Bobby on 12.27.17 at 6:13 pm
Just think, what would the lefties do when people paying the majority of taxes decide there is no point in working any longer and decide to stay home?
—-
Y’know, if the first thought at a hint of adversity is to drop out, maybe the left and right have more in common than they realize.

#56 Im Therious on 12.27.17 at 8:36 pm

If You Are Not a Liberal at 25, You Have No Heart.

If You Are Not a Conservative at 35 You Have No Brain.

#57 Fish on 12.27.17 at 8:51 pm

@#32 Mike in Toronto on 12.27.17 at 7:24 pm

That is interesting, so what if you don’t have any children, I would think to sell unless you can manage it, with the rising cost of maintaining

#58 Big Grow on 12.27.17 at 9:10 pm

Weed stocks. Anyone pick up any 10-40% gains today? Missed that too?

#59 Love Nunavut on 12.27.17 at 9:11 pm

Love Nunavut , beautiful province and great people but they are getting shaftered so bad on groceriy prices , it’s unbeleivable ! If you spend $150.00 a week on groceries for your family in southern Canada, you’ll be spending about $600.00 a week there and the quality and selection of food is not nearly as good. Yes almost all of the food has to flown in and that’s expensive but something has to be done about the price gouging . If Mr. Tudeau is true to his word about helping our northern communities more then this should have been first on his agenda and it doesn’t look like too much progress has been made so far.

#60 palebird on 12.27.17 at 9:14 pm

#18

Socialist Europe.. you make it sound like a paradise..granted I prefer Europe to North America but it is more the way of life, as in enjoying life instead of running on the treadmill here. Oh yeah speaking of socialist paradise have you checked out Cuba and Venezuela lately? As far as all these people spouting off about boomers and how they took all the money what a farce.. my parents lives, my life, my friends and relatives, it has been nothing but struggle and non-stop work to try and stay above water. The only people who made out like bandits were lucky or corrupt. This country has always been against free enterprise and tax the hell out of the general population. Keeps everyone back on their heels just trying to survive. Very British. We are so colonial. The only way I could get ahead was to leave this country and traverse the globe which I gladly did. Back here for family but leaving again soon. Never could stand all the bitching and whining. And it is going to get a lot worse before it gets any better.

#61 Love Nunavut on 12.27.17 at 9:16 pm

Re # 58

Yeah I know, forgot to spell check – unbelievable – i before the e .

#62 salonist on 12.27.17 at 9:16 pm

DELETED

#63 TurnerNation on 12.27.17 at 9:20 pm

The Blue Party definately will not win and here’s why.

1. They cycled through two would be leaders (one was Kevin O’DReary) until they found the one who would…

2…. Who would run to lose. What I mean, look at this face. To me its shouts fratboyish gamemanship. GAME face with zero worries:

https://i.cbc.ca/1.4212533.1500485916!/cpImage/httpImage/image.jpg_gen/derivatives/16x9_620/scheer-khadr-20170714.jpg

This isn’t a race it’s a slaughter. But he’ll get lots of trips and dinners and a plum position afterwards.

Totally non serious. Look ma I’m on TV:

http://www.chch.com/wp-content/uploads/2017/05/WEB-speaker-Scheer.jpg


NOTHING is left to chance in this world. Seems we are to be a post-national UN re-settlement zone of taxes slaved. Diverse and all.
US and China (Corporate communism) are to rule.

#64 NoName on 12.27.17 at 9:34 pm

#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm

You are POS Ms/Mrs SCM, what’s next “Aktion T4”?

#65 IHCTD9 on 12.27.17 at 9:42 pm

#30 Stewie on 12.27.17 at 7:22 pm
———-

Here in Ontario, we’re working on a much better plan: free money for everyone. The universal basic income will pay everyone in the Province for doing zip. I think the idea was originally based on a UBI program being a replacement for the previous social welfare bureaucracy – but there’s not a chance in hell that could happen in this Province. No, we’ll pay folks to sit home, AND maintain the entire works staff on top of it.

If it flies, I may arrange to be “laid off” for a couple years while I build a house on one of my lots.

#66 IHCTD9 on 12.27.17 at 9:43 pm

#64 NoName on 12.27.17 at 9:34 pm
#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm

You are POS Ms/Mrs SCM, what’s next “Aktion T4”?
———-

She’s obviously run out of tranquilizers again.

#67 Kelsey on 12.27.17 at 9:47 pm

#47 – Ace Goodheart

Labour is a lot more mobile these days, so “Going Galt” is possible in the sense that it’s easy for someone with skills to move to a low tax jurisdiction that’s likely warmer with a cheaper cost of living. Maybe even get paid in bitcoin while that lasts.

#54 – Ace Goodheart

I agree with you 100% on this one. If we kept most of the money we pay in taxes and spent a fraction of that on charities and another fraction on transit and other services provided primarily by the free market, society would be better off and we’d have money left over. It’s not an all or nothing proposition. Just because healthcare, infrastructure and education are important doesn’t mean the government has to deliver these things at 5x what they should cost. Every time the government takes something over and makes it too expensive for the poor and middle classes, it’s used as an excuse for why we need more government. People have no imagination – as if society has to subsidize 10 Marxist-feminist “scholars” so that we can graduate an Engineer and a Plumber.

#68 Ace Goodheart on 12.27.17 at 9:54 pm

Re #65 : they should change it from universal basic income to universal basic jobs. Give everyone a shovel and start digging. We need at least three new subway lines here in Toronto. Dig, dig dig

#69 Tony on 12.27.17 at 9:55 pm

I put it in Litecoin not Bitcoin due to next to nowhere else to put money. Our friends should be coming in real soon to kick gold in the teeth at exactly $1,300 U.S.

#70 paracho on 12.27.17 at 10:00 pm

Agree on all pints except moving to Nunavut . You will save on taxes …. but spend it all on groceries ! The grocery prices are really high up there !

#71 millmech on 12.27.17 at 10:09 pm

#52 Conan
You hit the nail on the head with why there is so much poverty in our country. The middle class who have saved diligently to become wealthy over a generation or two will now have that taken away from them to be given to the non wealthy(people who can not or will not save). It is easy to see why the poor are poor(it is their choices) so rather than enabling more prudent saving and less Government handouts in the future we rob from Peter to pay Paul all in the name of fairness.

The people I know who scream the most about the unfairness of the TFSA and only the rich that can use them for income splitting etc are using the biggest TFSA of all, their primary residence.
Funny thing also is that they usually own at least one if not two “investment” properties (if housing was cheaper they would be buying more than two, I have been told on numerous occasions) but still rail on about foreigners keeping them out of the market.

#72 millmech on 12.27.17 at 10:14 pm

Also been watching house prices on Realtor.ca and typed in$25,000-$200,000 range and found over 2000 houses for sale. Some of these houses have renters in them that pay about 1% of the asking price for rent. Now that is a good return on unleveraged investment, 12%

#73 IHCTD9 on 12.27.17 at 10:15 pm

#48 toronto1 on 12.27.17 at 8:01 pm
Nice post Garth

as more and more taxes are levied at every level of govt expect the population to respond in kind by either withdrawing their after tax dollars from the economy or by taking advantage of the strategies mentioned.

the other way to look at it and this is how i try to live is that every $ saved is another dollar that i can have working for me in investments, RRSP etc..

so i brown bag my lunch, bring my own coffee on the drive to work, maintain and drive my paid off 8 year old vehicle, used kijji to purchase slightly used tools or equipment (like the $800 snowblower i purchased for $200- just needed a tune up and carb cleaning)

I shop for family birthdays and Christmas off season (ie, great deals on sweaters and winter gear come March, buy summer stuff in Sept etc..)

the money i save i invest and it keeps giving and giving,

its hard to start off the routine but easy to do once you get going on it.
————

Good stuff, you are speaking my language .

I expect as the increasing costs of our inept governments are regularly placed on the average working Canadian’s back, the returns will start decreasing steadily. Doing what you are doing is exactly why this will happen.

I’ve eliminated just over 100.00 per week in stupid habitual spending since last year. I’ve always saved thousands by being a hands on DIY type of guy. Now I am heading to the big leagues in a bid to severely cut, maybe even eliminate; conventional heating and transportation fuels.

Keep it up, as you say it’s easy once you’ve got your brain re-wired. Everyone should start playing with these changes in their every day lives. Use your brain, time, and hands to keep your hard earned pay in your pocket instead of the Government’s.

It is 100% guaranteed that we’re going to be strangled by taxes and fees in the very near future. Our laws allow open season on the taxpayer all year, with no real limits. None of our Politicians in the last couple decades have demonstrated the southern brass required to deal with tough decisions. The answer was always to just throw money at it. Today it’s worse than ever with the current nimrod in Ottawa. Go ahead and vote, be get your hands into the game and sharpen that iron, you’ll be glad you did.

#74 Big Daddy Love Machine.....you know you want it. on 12.27.17 at 10:21 pm

ETFs should be in USD only……only in US companies…..get as much as you can out of $C. Rate increases in the US will squish the Poloz Peso. Specific stock picks are kicking ass and will likely double on fundamentals because of the tsunami of new Trump Tax they’re saving. For gods sake, they’re so flush entire industries are puking up large bonuses to hundreds of thousands of employees. Wake up.

Get out of Canada. Either the US….or even Asia. Asian currencies, even the Thai Baht is stomping Trudeaus economic shrivelled gonads…..the Tigers are awake Most executive ex-pats pay flat tax 15% in almost every Asian country. Professionals in the US are buying yachts….don’t be stupid. Asian ETF’s are on fire. Canada and EU statistics after being politically smoothed to misdirect from the social confrontation that’s going on….unemployment in the EU is skyrocketing, tensions are worse than ever, oligarchs like Merkel , May and Macron are failing and mass unrest looks like spot fires now but whole sections of Europe are arming against the dictates of Brussels……easier money elsewhere.

Buy themes…..don’t shotgun…..buy the best….leave the rest.

#75 Arctic Gringo: Qalunaaq on 12.27.17 at 10:22 pm

I’ve gotta an ETF that cures what ails ya – NASDAQ:MILN.

This blog has more references to Nunavut than the Atlantic (sans Lunenburg) and Prairie provinces, and remaining Territories combined. Impressive.

For those gold hounds out there – TSX:AEM and TSX:SBB – both have either operating gold mines in Nunavut or have received regulatory approval to operate. TSX:NWC is a high(-ish) dividend provider (> 4%) operating in the territory, part of the consumer staples sector.

#76 islander on 12.27.17 at 10:26 pm

http://www.ekathimerini.com/221583/article/ekathimerini/business/crisis-brings-sea-change-to-greek-housing-market

This an interesting article to read if you want to see how people might think/ react after a major property crash………..(ten years on….)

““Even from a purely economic perspective, it’s not worth owning a home today. In contrast, people who rent avoid all the additional tax costs and are not exposed to the instability of the tax framework for real estate assets, which has become a tool of politics and results in no taxpayer knowing what tomorrow will bring,” “Previous generations believed that buying houses was a form of investment. This is no longer the case, as we’re seeing a completely different mentality in younger people.”

Make sure you read the final paragraph!

#77 Fish on 12.27.17 at 10:33 pm

#68 Ace Goodheart on 12.27.17 at 9:54 pm

Aren’t the jails over crowd Ed, and aren’t some offenders getting out 60 days early,

#78 IHCTD9 on 12.27.17 at 10:34 pm

#68 Ace Goodheart on 12.27.17 at 9:54 pm
Re #65 : they should change it from universal basic income to universal basic jobs. Give everyone a shovel and start digging. We need at least three new subway lines here in Toronto. Dig, dig dig

———-

Amen to that, but imagine the outrage. Work is so mean!

#79 beegabobby on 12.27.17 at 10:35 pm

Garth

Instead of all these complicated maneuvres just to get free Canuck healthcare(the only real “benefit” in the country), why not just go work offshore for the big bucks with private medical, and then move back at age 80 to live out your final days?

#80 beegabobby on 12.27.17 at 10:39 pm

#28 Arctic Gringo: Qalunaaq on 12.27.17 at 7:11 pm

The correct reference to residents of Nunavut is “Nunavummiut”, not Nunavutians.

How about Nunavut-case

#81 Long-Time Lurker on 12.27.17 at 10:40 pm

I’ll make a point no one else has yet. During the past month I’ve read that the EU and Red China complained to the US that their tax cuts would cause companies to leave them for the US. That being said, the same thing is probably going to happen in Canada.

Another thing I read is that $100 million moved into commodities in the last month (if I remember correctly) in anticipation of the US economic boom ahead.

Looking into my speculative crystal ball, I think:

1. The Canadian housing markets are going to crash, hurting a lot of people and causing a recession.

2. Justin loses the next election to Jagmeet. Even Sunny Boy can’t hide that he’s flat out incompetent and the entitlement majority won’t vote for Scheer.

3. Economic stagnation for about a decade until the the millennial/entitlement generation figures out that you can’t get something for nothing. Then we’ll probably get a Conservative or Liberal government with a grounded sense of reality rather than pie-in-the-sky fantasies.

Just an interesting note on the socialism/capitalism debate. I once took a look at a Ukrainian herbal medicine book at the library to see what they knew. (It was basically folk medicine.)

The relevant thing I read was that when the Ukrainians settled the prairies there was no socialized medicine and they all relied on folk medicine unless something serious happened. Then they went to a doctor and had to pay for it.

As an aside, I think I also remember reading was that they said the Native Canadian medicine was remarkably effective.

#82 Johnny on 12.27.17 at 10:44 pm

I agree with those who say that it’s best to stop working, if you can, and take advantage of as many government freebies as possible.

This past year I have earned less $ at work as I’ve requested that all my extra hours be converted to time-off instead of being paid out. Best to take extra vacation than have that OT be subject to 50%+ taxation. Anything to keep as much money as possible away from the former part-time ski instructor/drama teacher/selfie boy!

The next step will be to work far less or take a low income job. I was doing the calculations and if you earn $30-40K/year, consisting of a combination of earnings and investments such as dividends, you pay very little tax. You are even entitled to get a GST tax rebate! If you have a decent size investment portfolio, and don’t have high expenses, you can easily live on this and not spend any of your principle.

If you told me several years ago that this would be my plan, I wouldn’t have believed it. However, with this government determined to take away from those who are responsible and give to the irresponsible, the less ambitious, or those who make poor choices, you’re an idiot to slave away at a stressful, demanding job while the government and its dependents are constantly whining about how you’re not paying “your fair share”.

What the leftists don’t realize (or choose to ignore) is that humans need incentives to perform. If the system is set up to penalize high performers to reward the lower performers, the higher performers will resent it and change their behavior accordingly. I’ve certainly reached that point – if you can’t beat ’em, join ’em!

#83 IHCTD9 on 12.27.17 at 10:44 pm

#55 Andrewt on 12.27.17 at 8:32 pm

Y’know, if the first thought at a hint of adversity is to drop out, maybe the left and right have more in common than they realize
————

Depends if you think this is the first hint, or round 56 of said adversity.

Two time honoured maxims come to mind:

“Quit while you’re ahead”

“Sucker for punishment”

#84 Keith on 12.27.17 at 10:54 pm

The current max RRSP contribution is over 25k. Contribute for 40 years, your investment at 8% finishes at over 7 million. Invest the refunds, pay tax at 50% and you rack up 1.6 million. It’s a taxable nest egg of 8.6 million.

TFSA limit never increases, 5500 per year for 40 years grows to 3.3 million at 8%. It grows tax free and the income it produces remains tax free. A shade under 12 million, 24 million for a couple. Plus CPP, fully taxable. OAS has disappeared from sight in the rear windshield.
Tough country for the wealthy, but what can you do?

#85 LivinLarge on 12.27.17 at 10:59 pm

Re: , Mike Duffy could claim he lived in the Maritimes didn’t he? Is there any legitimate way to claim Nunavut residence without actually having to even visit? I’d give up my vote in Ontario for that 6 points.

BTW, good on ya for pointing out the age advantage in when you contribute to an RSP. That makes a surprising difference since you are likely contributing when you are at you max marginal too.

#86 Loonie Doctor on 12.27.17 at 11:00 pm

#48 Toronto1

I think you are correct. You are being smart. Other smart people will do the same in their own ways. It is the most logical response.

#87 A Yank in BC on 12.27.17 at 11:10 pm

#18 AGuyInVancouver on 12.27.17 at 6:47 pm
“…and China’s Communist/Capitalism has shown in can out manufacture America.”

Tiresome and wrong. Your usual. But never let the truth get in the way one’s socialist dogma.. right? The GDP of the United States far eclipses that of China, nearly double I believe, despite China having 4 times more people and consuming twice as much energy as the U.S.

#88 akashic record on 12.27.17 at 11:30 pm

#18 AGuyInVancouver on 12.27.17 at 6:47 pm
“…and China’s Communist/Capitalism has shown in can out manufacture America.”

As long as America outsources manufacturing to China.

#89 LivinLarge on 12.27.17 at 11:30 pm

Yorkville Renter, “trying to understand how “gifting” money to lower-income spuse works for a TFSA… her $$$ in my $$$ and vice-versa… Is it an actual CRA thing, or is that just for an RRSP?”…I suspect you will kick yourself because the answer is soooooo simple. You might be reading too much into it.

Two TFSA grow tax free and deliver tax free income when withdrawn. Just that simple. No point in ever leaving your spouse’s TFSA un maxed ever…well maybe if you aren’t expecting your spouse to be in the picture in 30 or 40 years.

Fearless Leader’s point was that simple…if you have the coin then drop all you can into the only truly egalitarian retirement planning investment we have.

#90 Smartalox on 12.27.17 at 11:33 pm

Jagmeet and the NDP won’t be a problem.

If Scheer can’t keep a lid on the xenophobes in his party (or better still, ex-communicate them all together) Trudeau will pivot right, would the TFSA limit and walk away with a new majority.

#91 Looney Baloney on 12.27.17 at 11:33 pm

Move south of the border, earn more and pay less tax. Wait for the socialist house of cards to collapse under it’s own weight. Move back.

#92 slick on 12.27.17 at 11:33 pm

#1 RESP, I was hoping for an entire column on RESP’s, so I could tell my story.
I had 4 kids enrolled in a self directed TD waterhouse family plan. So glad I didn’t get sucked into one of those ripoff group plans. Anyway, started the plan in 1999. went back and double added for the years missed.
Total contribution – $97,500
Gov’t portion – $18,600
Withdrawn to date-$158,135
Current Plan value- $77,500

The plan value topped out at $185 K, and that was after we had withdrawn over $50K.
Our last, 20 year old kid is currently in college for likely a couple more years.
This year, I have withdrawn rest of my contributions, not taxable. $63K this year.
In 2017, we also have taken out $25K in the kids name, and will pay the tax on that. Likely will do the same in $2018. Kid has a part time job, but is getting a big Wynne raise next week.
Putting the leftover in my RSP is a no-go, for various other reasons.
We invested money in BCE, IPL, boston pizza, energy companies etc. mostly DRIPed, and just let it run.
this has been a great investment. the rules are kinda complicated, but well worth the investment in time to learn.
I remember my accountant, years ago, poo-pooing the whole plan, but I soldiered ahead, and now he sees why.
Open a family Self directed RESP. do your kids a favour, instead of lending them ‘Bank of Mom’ money to have them be house poor for the rest of their lives.

#93 Nuke on 12.27.17 at 11:56 pm

Great advice Garth. Remember the 100s of thousands who qualify for RDSPs due to having a disability and qualify for the Disability Tax Credit. You can get up to $90,000 real money in grants and bonds and shelter $200,000 from taxes and exempt funds like Ontario Disability Support Payments, or OAS and GIS clawbacks after 65. If you or family recieved a letter from the feds to open up your RDSP, please do so.

#94 Newcomer on 12.27.17 at 11:59 pm

#65 IHCTD9 on 12.27.17 at 9:42 pm
#30 Stewie on 12.27.17 at 7:22 pm
———-

…The universal basic income will pay everyone in the Province for doing zip. …
If it flies, I may arrange to be “laid off” for a couple years while I build a house on one of my lots.

——-

The point actually is that, unlike the present system, it doesn’t matter whether you are laid off, or working, or sick, or an entrepreneur, or whatever, you still get the money. That’s what makes it “universal.” One of the proposed benefits is that it would let people do things like building a house, or starting a company in their garage, rather than having to work for wages all the time.

I’m not a fan, as I think it will just result in inflation and social disfunction, but that is the thinking behind it.

#95 Adrian on 12.28.17 at 12:32 am

I’m disappointed in you, Garth. You complain about how all politicians use divisive & partisan politicking to gain power, but here you are driving the wedge deeper just to score a few points. I encourage you to hold yourself to a higher standard.

Psychology professor, Jordan B. Peterson, teaches that one of the primary divisions between Left & Right actually comes down to a difference of personality-type. He breaks it down using the OCEAN-scale personality test. (‘OCEAN’ stands for Openness, Conscientiousness, Extroversion, Agreeableness, & Neuroticism).

According to Peterson, those further to the Right tend to be high in Conscientiousness, while those further to the Left tend to be high in Agreeableness. Conscientiousness means everyone contributes however they can; it means competing & achieving according to one’s abilities, with no cheating or ‘free riding.’ Agreeableness means making sure everyone gets what they need to succeed, while ensuring that the vulnerable (i.e. children, elderly, injured, sick, disabled, etc.) aren’t deprived or taken advantage of by those with more power.

(I first watched his discussion on YouTube & I can’t seem to find the particular video right now, so see this ScienceDaily article of Peterson discussing it instead:)

“Personality predicts political preferences”
https://www.sciencedaily.com/releases/2010/06/100609111312.htm

There is often no *necessary* contradiction between these two attitudes, but they are frequently used in political conflicts to score points. However, I think a more constructive approach is to ask the conjunctive question: “How can we make sure everyone does their best, AND cheating is stopped, AND everyone has the opportunity to succeed, AND the vulnerable are protected?” If we can find a way to answer this then we will have a chance to overcome our differences and work together.

Interestingly, similar questions occupied the classical economists from Adam Smith to John Stuart Mill as they fretted over questions of the ‘unearned income’ – or ‘rents,’ as they were called – of an inheritor-class of landed aristocracy. Classical economics’ approach to this problem culminated in Marx when he wrote: “From each according to his ability, to each according to his needs.”

We now know that Communism has the same problem as Fascism – which Mussolini called Corporatism “because it is the merger of state & corporate power.” That problem, of course, is tyranny. A ‘dictatorship of the proletariat’ is a kind of ‘tyranny-by-populism’ that – like any concentration of power – is vulnerable to corruption & exploitation. The same problem exists with unfettered Capitalism, which generates extreme inequalities of wealth & income – and therefore also of power.

Picketty describes the structural features of Capitalism that generate this inequality using the expression ‘r>g’ while Steve Keen does so via the rising share of output taken by banks to pay interest on debt. Other economists use concepts like ‘winner-take-all’ markets & natural monopolies, as well as market failures like imperfect competition & the immobility of labour/capital.

The best system we seem to have found so far is Socialism, which combines competitive market-systems – to drive cost-minimization & technological improvement – with regulation & redistribution that reduces cheating, minimizes suffering, improves opportunity, & maintains the peace. Of course, every system that includes humans holding power is susceptible to corruption – Socialism is no exception – but I just see that as an argument FOR holding ourselves, our politicians, AND our political-economy to a higher standard.

As a commentor to this blog wrote a few weeks ago (I’m sorry for not referencing you by name!), “Tax-avoidance is tax-evasion for the wealthy.” I suppose that in some ways – like regular old tax evasion – tax avoidance is a refuge for those who feel powerless to affect positive change. Instead of fighting to improve our politics, the disillusioned often try to drop out by eliminating as much of their contribution as possible to a system they don’t agree with.

I can appreciate this attitude, but I can’t support it. Civilization demands more of us than that to survive. It’s too easy to lose everything we’ve achieved so far… science, technology, philosophy, literature, art, etc. in a fit of rage and destruction. All kidding about ‘Boomers’ & ‘Moisters’ aside, inequality is a very serious problem with the potential to ignite a firestorm of conflict in the coming years. Addressing its systemic roots will be one of the greatest challenges facing humanity this century. I ask everyone, please be part of the solution rather than part of the problem.

#96 Smoking Man on 12.28.17 at 12:39 am

Makes a good case for home schooling.
Complete insanity in our education system.

http://www.breitbart.com/big-government/2017/12/26/parent-transgender-teen-warns-fight-radical-movement/

#97 Devisiveness is getting tiresome on 12.28.17 at 12:44 am

Im sick of these culture wars everyone insists on tacking on to economic policy. Somehow lower tax people (usually wealthy-usually lower tax proponents due to self interest) also have to be rabidly nationalistic, afraid of any type of socialism (like beyond disliking the economics). Also a large number of this group (no not everyone) seem to be intolerant of others, vaguely or overly white supremacist and just plain mean spirited.
Meanwhile the socialism friendly group seem more tolerant of others more willing to help those in need and yes in general more financially illiterate in their personal lives.
Myself-I am for many types of socialism such as universal health care, some welfare, libraries, quality public schools, quality infrastructure maintanence and improvement and that means taxes and government. My income falls in the 1%er range and I’m ok with paying a reasonable amount of taxes if it goes to these things. I’m ok with people that don’t look like me and don’t believe what I do and am ok if people are living and working in Canada even if they were born somewhere else.

I just find it bizarre that these culture wars which don’t really need to be attached to economic policy (whether for or against taxes and government) are. It makes me really suspicious of the no government types.

#98 Nonplused on 12.28.17 at 12:48 am

#18 AGuyInVancouver

I believe they had subways in England and New York before China got them. Capitalism, old style I mean not what we have today, always wins.

#27 Felix on 12.27.17 at 7:10 pm
#11. Get rid of all your dogs.

Um, I, the great and unchallenged Nonplused, arrived at #11 today and I never mentioned dogs. However, I do have a dog and I won’t be getting rid of him he is part of the family. He protects the cats from coyotes when the cats are out on mouse patrol and always lets us know if someone new has come into the neighborhood. Even the neighbors like him because frankly we are all a little spooked out here a lot of stuff has gone missing. He has his dog friends and they are all friendly as well but they visit each other whenever a battery runs out.

Cats have their place, anyone who doesn’t like mice should have one. But after that get a dog to protect the cats, and a fish tank to entertain the cats.

#50 Andrew Woburn

Ha, ha, that’s funny. Electric airplanes will be great if you want to fly from Calgary to… Airdrie. Test out a drone some time they are tons of fun but you get 20 minutes in the air at best.

#99 Smoking Man on 12.28.17 at 1:23 am

There is a reason this skilled real gonzo journalist is in California. It’s the epa center of mental illness.

I want to come back to Canada next year anticipating every move of the deranged and save my country of birth. Punt Wynnee and T2.

Sun Tuz I read the book. Know the enemy.

An observation . These tree hugging nuts made it cool to buy electric cars and the flock did. They spiked the tax on gas.

Revenues on gas are down due to electric cars.

Now they want to tax mileage. While having no idea a homeless camp of illegal people set the fires that burned down the 1% nabour hoods of La.

Hallarious karma .

That’s people are dip shit stupid.

#100 Nonplused on 12.28.17 at 1:29 am

So more for #50 Andrew Woburn and other such thinkers.

The electric thing will never replace cars or airplanes or boats in the way we know them now. They cannot. They can probably electrify the railways as it’s easy to put a power wire overhead as they do with many transit systems and I think Russia has electrified the whole trans-Siberian railway, so it’s probably the longest electrically powered rail line in the world.

But you can’t do that with batteries. It’s not physically possible. Putting that much energy in one spot is as dangerous as TNT.

Now you might say well gasoline should be just as dangerous but it’s not. With gasoline, there is no fear of combustion unless oxygen is introduced, so if you can successfully keep the gasoline and the air separate there is no risk of combustion. This doesn’t always work of course but it works pretty well.

With Lithium-Ion batteries, we have already achieved the point where the batteries can fail catastrophically without oxygen, because in a battery no external component is required for a total discharge of the energy contained. You can’t save a shorted out battery from self destructing by limiting the oxygen supply. It already has all the energy it can ever have self contained. This is why when Teslas crash they burn to the ground and there is no way for the firefighters to put them out. If they short circuit, there is no saving them.

Maybe we will come up with new battery technology that will hold even more energy by weight than a lithium-ion does, but it will not likely be more safe. Short it, and something’s going to get fried. Even if they come up with a way to make “super-capacitors” work for large scale energy storage, could you imagine having these in you car? If you short out a a regular car battery now it’s already bad enough you can weld you wrench to the contact point in a second. Imagine shorting out a super-capacitor that contains as much energy as a tank of gas!!!! It would be like detonating a fuel air explosive bomb!!!!

Anyway, for now anything going to space generally relies on a kerosene-liquid oxygen fuel source and even those blow up from time to time. When they come up with battery powered space flight (which they never will, it’s just not possible) then I will believe.

Many people will say I am too pessimistic, “technology” they say. Fools. I say back “Science”. You know why we are here and aliens are not? Because Einstein was right, the speed of light is the speed limit of the universe. Warp speed and hyper-drives are fun for movies, but they ain’t possible. If warp speed were possible, the aliens would be here and we would not. I can site a lot of writers and thinkers on this but just trust me on this one. There may be life on other planets, but none of them have crossed space and time or they would be here and we would not. It is the speed of light that keeps us safe.

So anyway that was a bit of a tangent but my point is if you haven’t studied science don’t talk about it. Just because scientists invented the computer and the microwave oven doesn’t mean they can do anything. You are mistaking science for magic, as Carl Sagan predicted you would do.

#101 Musty Basement Dweller on 12.28.17 at 1:41 am

It sounds like the real numbers on foreign money influence in Vancouver real estate are yet to come. They have a feeling they are just a tad low lol. Big surprise (sarcasm) to anyone that knows what is going on on the ground floor in Vancouver. Here’s the link http://vancouversun.com/news/local-news/foreign-ownership-data-released-so-far-just-the-tip-of-the-iceberg-statscan-director

#102 JRT on 12.28.17 at 1:50 am

#11
I never believed I’d live to see the day the NDP were governing Alberta. Liberals, maybe, but NDP???? I still can’t really believe it happened.

Alison “The Red” Redford destroyed Ralph Klein’s surplus in no time. She wasn’t even criminally investigated. She now “works” for the UN as an economic advisor to Afghanistan. As if that country needed more misery. She was worse than most NDP govts.

#103 jane24 on 12.28.17 at 1:57 am

Move out of Canada pronto. It is too hard to get ahead with the heavy taxes and high cost of living. Most other countries in the world have better weather and are cheaper to live in. Canada’s glory was 1950 to 1990. I have calculated that one could live very well in the southern Italian village we summer in for about 1000 euros a month.

What is a non-binary male when he/she is at home please? I have never heard this term before. Interesting.

We were having a real problem with snowflake students declaring universities to be safe spaces and not allowing in any controversial speakers with points of view the student union disagreed with or they felt might offend a student. Also students were all for re-writing history and wanting to remove any reference to any historic figure they disagreed with. British Govt moved yesterday. Any university that constrains free speech and alternate viewpoints on any topic will lose their accreditation to be a university as the discussion of opposing points of view is the ethos of a university. Snowflakes 0, common sense 1.

#104 BillyBob on 12.28.17 at 2:41 am

#29 J. Canuck on 12.27.17 at 7:12 pm
To #13 Billy Bob

Go one better than moving to Nunavat and expatriate from Canada entirely. Ultimate way to starve that sock-flaunting fool and it’s a big, interesting world out here.

Or, don’t. But know that you have choices now more than at any point in history. No excuses, no complaining.
**********************
Great idea BB. Head down to the U.S., and don’t come back.

And I’m sure you’ll save so much money on taxes that you’ll be able to pay for a triple bypass out of your own pocket. No excuses, no complaining.

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

You have to be pretty stupid to think the only option if you leave Canada is to go to the US.

What part of “big, interesting world” did you struggle with?

Had to laugh at the guy lauding China’s manufacturing and their totalitarian system in the same rant that vilifies “Cons” for toxifying the planet. China is destroying the planet on a scale that makes the West’s efforts to “go green” absolutely irrelevant. Kinda pointless to get low-flush toilets and LED bulbs when a new coal-fired electrical generation plant gets built every week lol.

Yet it is admired? So weird. Like Trudeau’s crush on Castro.

#105 TRT on 12.28.17 at 3:41 am

#2 SunShowers on 12.27.17 at 5:36 pm
Can’t wait to vote for Jagmeet!

Trudeau succeeded in putting Jagmeet in…. guaranteeing himself a 2nd term.

Expect record low seats for NDP in next election. Many people simply won’t vote for him because he is a religious symbol (turban, etc.). No one will openly say it but watch and see on election day.

Coup for Trudeau!

#106 down_boy on 12.28.17 at 3:44 am

We live in a society and there is no escaping it, unless you go live in the bush. Either open your table to the poor, or pay someone else to do it for you. Otherwise we get mobs, looting, vandals. If the govt takes your taxes and doesn’t fulfill its part of the contract, it’s going to get it from both sides.

The country is big enough with enough remote areas that if you squint, you can almost see freedom. Freedom from wealthy opportunists and out of earshot from the wailing masses. Mind the bears.

(That owl/dog combo looks like a made-in-Canada detective series.)

#107 TRT on 12.28.17 at 3:48 am

The future is user pay and graft in Canada.

Healthcare, Seniors homes, Education will all become private. Pay to play to get a job. Coming VERY soon to the ‘Post nation State’

#108 Howard on 12.28.17 at 5:54 am

#12 AK on 12.27.17 at 6:27 pm

“Let’s see how young Scheer deals with that.”
————————————————————

I believe that young Scheer will be the next Prime Minister.

—————————————

Nope. The racists in Quebec – and they are legion, more than anywhere else in Canada, and generally identify as left-wing – will refuse to vote NDP because Jagmeet is a turban-wearing Indo-Canadian. The Liberals will take 65+ seats in Quebec. That will be enough to offset losses in BC, AB, ON.

#109 Tony on 12.28.17 at 6:45 am

A succinct video on Bitcoin.
https://www.youtube.com/watch?v=9BIT_3x7IPI

#110 Tony on 12.28.17 at 6:55 am

Re: #7 binky barnes on 12.27.17 at 6:02 pm

I’m waiting for everything to implode and the rich to turn poor before buying collectibles.

#111 Eyestrain on 12.28.17 at 7:13 am

Heroes of the Resistance (distribute freely)

Brigette DePape
http://www.cbc.ca/beta/news/politics/senate-page-fired-for-anti-harper-protest-1.1057092

Bahtiyar Duysak
https://techcrunch.com/2017/11/29/meet-the-man-who-deactivated-trumps-twitter-account/

Dave Collum*
http://www.zerohedge.com/news/2017-12-23/dave-collums-2017-year-review-bubble-everything-grew

(*gracias Pepito and all the Freedom Fighters)

#112 Bhad Bhabie (grrla fighta) on 12.28.17 at 7:17 am

righty tighty
lefty loonie

dont want nunavat
where Ryan at

#113 Jay (not that one) on 12.28.17 at 7:31 am

One thing I don’t like about the simplification is suggesting only lefties want higher taxes, or that righties necessarily want smaller government.

History tells us 2 things:

First, that cutting taxes today can just mean we’re borrowing money from the future to do it. We’ve been screwed over before by the national debt, it’s almost certain as interest rates rise that we’ll be screwed over by them again. It doesn’t matter which party created the debt if our taxes are 10% higher to service it at 10%.

Second, that everyone thinks “their” government is the right government. Ask an NDPer about social programs or a CPCer about economic/business development programs, and you might believe they’re both big government Nanny staters. Flip the script and you might assume they’re both suddenly libertarians. Both groups need to pay for “their” government somehow.

The danger in assuming either side has a monopoly on spending or taxation leads us to ignore deficits. If both could, they’d spend a trillion dollars and tax nothing. They’ll both try if we let them.

Understanding that everyone has the programs they want, the only thing I desire is that we pay for all this up-front. Whether it’s a social program or a business development program, tax us for what those programs are worth. We’ll see if voters actually want all those social programs or business development programs once taxes immediately rise when they take effect, and immediately drop once the programs are retired. Recently in Ontario, the government started testing universal basic income. The test is faulty because they only gave a bunch of people money. They need to take a random number of people, give the poorest universal basic income and double the taxes for the rest. Then we can see how the program actually works. I suspect it won’t be nearly the popular program it seems once we test the full effects.

The key is what leads what. Spending cuts must lead tax cuts, and tax increases must lead spending increases.

#114 After Communism on 12.28.17 at 7:39 am

“Why do you hate public transit, universal healthcare, or all the other public benefits tax revenue brings?”

Answer: Those not-market-prices, plus the other freebies for not-work, (now beyond 50% of GDP), cause low wages, and inflation of prices and declining productivity. That is the outcome of communism throughout history and you just don’t get it.

If you blamed the government policy then you would vote for less government.

I think it the third world immigration, and their millenial children, coming from communist countries, tend to not understand freedom, and choose bigger government to solve all problems.

#115 dharma bum on 12.28.17 at 7:40 am

#10 Bobby

Just think, what would the lefties do when people paying the majority of taxes decide there is no point in working any longer and decide to stay home.
——————————————————————–

I dunno. But I sure hope they don’t find me.
That’s my strategy. Low tax + freedom.
I do not miss the rat race.
Home is great.

#116 After Communism on 12.28.17 at 7:54 am

Identity politics got mentioned, I see.

Identity politics means no left/right economics.

Yes White Christian Male; Scheer
Not atheist Female deviancy; feminist-Trudeau
Not Sikhism; what’s-his-name.

#117 crowdedelevatorfartz on 12.28.17 at 8:31 am

@#95 Adrian
“Addressing its systemic roots will be one of the greatest challenges facing humanity this century. I ask everyone, please be part of the solution rather than part of the problem.”
++++++
Soooo, Capitalism bad…socialism good.
Im sure a billion Chinese under the communist states “boot heel” might beg to differ.

Or perhaps you’d prefer Aritificial Intelligence to efficiently run eveything while we Lotus eaters sit around arguin the finer points of baseball/hockey/ sports doping……? You know….the important things that matter to most.

#118 Sue on 12.28.17 at 8:33 am

Johnny: That’s exactly what I’m doing. A 40K job plus plus some dividends from my portfolio and I’m paying next to no tax. I work 2 days a week, that’s it. I refuse to buy into this insanity….and my tennis game is slammin. )

#119 -=jwk=- on 12.28.17 at 8:37 am


Why do you hate public transit, universal healthcare, or all the other public benefits tax revenue brings?Conservatives just don’t get it, the American Era of Me, Me, Me is drawing to a close. Trumpism is it’s death rattle. Socialist Europe has shown you can build more pleasant places to live and China’s Communist/Capitalism has shown in can out manufacture America. The era so many Cons worship toxified the planet and now a younger generation will have to repair the damage. The coming era of AI will mean government will have to redistribute even more wealth to keep angry young men pacified. The Conervatives may hang on as a rump catering to Alberta and its Tar-sand Mini-Me Texans, but that’s it.

The conasaurs are looking up at the sky seeing what looks like a second sun coming to warm them, and are rejoicing over their good luck.

#120 William won't tell on 12.28.17 at 8:39 am

Mr Turner,

The current political system has been finely crafted by ALL political parties to foster an “us against them” attitude. You help this foolishness to proliferate with these types of posts.

Think about it…The Cons (harper et al) put Canadians into massive debt to BUY VOTES (remember the gazebos?).

It worked, in part because their PR allowed them to sucker people into believing that getting rid of the Libs (2006?) was revenge against “the other side”.

The Libs came into power on the same note, they were not voted IN, Harper et al were voted OUT.

And they are taking more from US to pay for THEIR agendas now.

It’s the same thing, just different in design. In both cases it is all about taking from US to feed them.

The point is, ALL sides use OUR money to further THEIR agendas, and their agendas are (mostly) not intended to benefit citizens, just themselves. They are ALL playing us like violins.You can see it in the comments here.it’s always US (Lib/Con) against the other party.

Always.

With all due respect, fostering an US against THEM attitude (no matter what political stripe) serves THEIR purposes, not OURS Mr. Turner.

I believe the correct term is “Divide and Conquer”.

Government was conceived to allow for a better social environment for CITIZENS. Laws, infrastructure, health care, etc. all intended to make things BETTER for the CITIZENS.

ALL citizens.

But the politicians have corrupted the intent by fostering an US against THEM political system that mostly only really benefits them. They live to feed THEIR agenda, their power desires, their wallets, their cronies, not ours.

(As an aside, you were different Mr. Turner, that’s why you were mercilessly punted to the curb, surely you realize this fact.)

Please don’t throw fuel on the flames. It only benefits the dirty players, no matter which party.

Complain about policy (rightly so) but striking a party against party pose serves them, not US.

People need to “get that”.

Drawing comparisons between what was and what is (so partisan) serves THEM not US.

Perhaps a New Years resolution might be in the offing?

Something to hopefully chew on.

#121 Nick on 12.28.17 at 8:39 am

If you’re an investor who bought a turkey asset and lost money, the rules let you deduct that mistake from the proceeds of an investment that did work out. Try that anywhere else in life. Tax losses can be carried forward indefinitely but if you wanted to sell and deduct the loss from a profit you made on something in 2017, you’re reading this one day too late. Remember next year you need to dump the loser at least two days before the calendar runs out.

Can’t you deduct losses from up to three prior years?

#122 crowdedelevatorfartz on 12.28.17 at 8:44 am

@#23 Screwed Canuck Moaner
“What a coincidence that the worst generation of all time is also the unhealthiest….”
++++++
Unsurprisingly.
You are wrong once again.
Obese, fast food addicted, supersized soda sucking millenials are , on average, fatter, sicker, unhealthier than their parents….and its only going to get worse.

When their kids learn to change the tv channels at the age of 2 with the remote….”Good Job!” is the reward.

The same phrase Boomers would say to their dog when it returns a stick…………

#123 Tater on 12.28.17 at 8:47 am

#25 Fake News Again on 12.27.17 at 6:59 pm
#165 Fake News Again on 12.27.17 at 3:35 pm
When will people understand these tax increases are 100% to support the parasite called GOVT.

You mean like education, health care and national security? – Garth

__________

So your suggesting that education, health care and national security means a “FREE PASS” for Bloat, Waste and Govt Worker Entitlement? The 3 levels of Govt in Canada waste BILLIONS of dollars that could go towards tax cuts making the rest of the country wealthy not just the Govt Worker Entitled.
—————————————————————–

Can you give 3 significant sources of waste and how to eliminate them?

#124 Ed. on 12.28.17 at 8:52 am

#100 Nonplused on 12.28.17 at 1:29 am
I can site a lot of writers and thinkers on this but just trust me on this one.
*********
I trust you meant “cite”.
You might get your sight tested before you post to this site.
Easily confused.

#125 William won't tell on 12.28.17 at 8:54 am

By the way Mr. Turner, further to my comment above, it is also serving THEIR agenda to strike a boomers against millennial pose.

Again, it serves the purposes of the political powers to divide us ANY way that we let them.

#126 crowdedelevatorfartz on 12.28.17 at 9:01 am

Dear Srewed Canuck Moaner

I was commuting on a BC Ferry yesterday and was amazed at the amount of Millenial parents that had plunked their little kids in front of laptops to keep them amused.
Conversation with junior? Interaction with poopypants? Exercise in the playroom? Nah….too much work.

The little millenial sprog-geny were mezmerized by the touch screen and all the bright shiny colors…..zero human interaction with their parental units…..unless the screen went blank….then the screaming ensued.

If you think Millenials are introverted, spoiled, moaners…..just wait for their kids to reach adulthood and the look of shock and horror when their employer doesnt say “Good Job” every time they show up on time for work.

China has its one child per family “Little Emperors” we have our anti social Millenial sprogs…..such is life.

#127 Getting out on 12.28.17 at 9:01 am

How does a Canadian move to and work in the USA

#128 Ken from BC on 12.28.17 at 9:03 am

#55 Andrewt:

There is a difference between adversity and extortion (the practice of obtaining something, especially money, through force or threats). T2 and his gang arbitrarily raise taxes and if you don’t pay, you go to jail or they forcibly take it through the courts. I believe the recent tax increases fit the definition.

#129 Ed. on 12.28.17 at 9:18 am

#95 Adrian on 12.28.17 at 12:32 am
I’m disappointed in you, Garth……..

——————
Adrian, your excellent post is certainly food for thought, but most folks here eat with their hands. Both of them. Try the Atlantic Monthly.

#130 Ret on 12.28.17 at 9:26 am

Public transit is great but apparently users refuse to pay the full costs of the service and subsidies run in excess of 40 percent paid for by non users.
It is typical socialism.

Lots of student houses around McMaster are owned by students. Parents bought the house and their child fills it with all of their friends paying 500 a month ren’t. The low income student owner collects 3000 dollars rent a month and collects Kathleen Wynnes full hydro subsidy every month.

#131 Ace Goodheart on 12.28.17 at 9:43 am

RE: #96 Smoking Man on 12.28.17 at 12:39 am

Makes a good case for home schooling.
Complete insanity in our education system.

http://www.breitbart.com/big-government/2017/12/26/parent-transgender-teen-warns-fight-radical-movement/

I’m all for equal rights for all. However I still find it disturbing that we are introducing elementary school children to sexual identity issues. Asking 8 year olds to choose their gender seems a bit too early. They’re just kids after all. In an ideal world, kids would be kids until they enter puberty, then they can figure out their gender with whatever assistance is required from Society. Get rid of the color coded toys (pink for girls, blue for boys), all the gender specific marketing aimed at little kids and just treat them all as kids and not a gender.

With teenagers it’s a bit of a crap shoot really. They’ll do what they want anyway.

At some point our wonderful inclusive governments also have to explain to kids who are told to choose their gender, how difficult and expensive it is for LGBTQ people to reproduce. IVF is freaking expensive, just the drugs alone for it are over $8000.00 and then you have to pay for the actual procedure. For a couple of men, you also need to hire a surrogate which can be like 50K or more. Yes Ontario funds one round of IVF, but they don’t pay for the medication.

Some day we’ll all be truly equal, but right now things are still very expensive for LGBTQ couples who want to have children.

#132 LivinLarge on 12.28.17 at 9:44 am

Jane, “I have calculated that one could live very well in the southern Italian village we summer in for about 1000 euros a month.”…you’ve gone the distance and AND you spend summers in some place like Basilicata?

South in the summer and north in the winter? I’m guessing then that you aren’t doing it for the warmth.

#133 Pepito on 12.28.17 at 9:49 am

@ #82 Johnny

“If you told me several years ago that this would be my plan, I wouldn’t have believed it. However, with this government determined to take away from those who are responsible and give to the irresponsible, the less ambitious, or those who make poor choices, you’re an idiot to slave away at a stressful, demanding job while the government and its dependents are constantly whining about how you’re not paying “your fair share”.
_________________________________

Johnny, you should have just said ” you’re an idiot to slave away at a stressful, demanding job” and left out the rest of the BS.

#134 Howard on 12.28.17 at 10:17 am

#131 Ace Goodheart on 12.28.17 at 9:43 am

At some point our wonderful inclusive governments also have to explain to kids who are told to choose their gender, how difficult and expensive it is for LGBTQ people to reproduce. IVF is freaking expensive, just the drugs alone for it are over $8000.00 and then you have to pay for the actual procedure. For a couple of men, you also need to hire a surrogate which can be like 50K or more. Yes Ontario funds one round of IVF, but they don’t pay for the medication.

———————————-

Oh come on Ace. You know that eventually the provincial Liberals, whether under the current premier or a future one, will force taxpayers to cover the whole of the IVF procedure including all ancillary costs.

Thanks to George Smitherman, Ontario taxpayers are on the hook for sex-change operations AND restoration operations if the “trans” person decides he/she has made a mistake and wishes to become “cis” again.

#135 Tater on 12.28.17 at 10:22 am

#96 Smoking Man on 12.28.17 at 12:39 am
Makes a good case for home schooling.
Complete insanity in our education system.

http://www.breitbart.com/big-government/2017/12/26/parent-transgender-teen-warns-fight-radical-movement/
—————————————————————
Not sure how a story from North Carolina is an indictment of Canada’s education system.

#136 Howard on 12.28.17 at 10:27 am

#122 crowdedelevatorfartz on 12.28.17 at 8:44 am

@#23 Screwed Canuck Moaner
“What a coincidence that the worst generation of all time is also the unhealthiest….”
++++++
Unsurprisingly.
You are wrong once again.
Obese, fast food addicted, supersized soda sucking millenials are , on average, fatter, sicker, unhealthier than their parents….and its only going to get worse.

When their kids learn to change the tv channels at the age of 2 with the remote….”Good Job!” is the reward.

The same phrase Boomers would say to their dog when it returns a stick…………

——————————————-

They are unhealthier, yes, due to having far more stressful lives than their Boomer parents who more or less floated through life on a fluffy cloud. They are also far poorer and can less afford the increasing prices for healthier options.

In terms of obesity, I have found no studies showing Mills are any worse than Boomers even after controlling for the faster metabolism of younger people. Both generations have a lot of disgusting face-stuffing fatties. You will find, however, that Millennials consume far less sugar. While Boomers quenched their thirst with Coke for most of their lives, Mills will tend to reach for a bottle of water.

#137 Ret on 12.28.17 at 10:28 am

Patrick Brown, Andrew Scheer, nice guys but no solid plan to date.

Kathlèn Wyñne, T2, spend and promise whatever it takes to hold onto power and buy votes with every special interest group and Liberal friendly business contributor.

Basically, this will be the choice for voters.

#138 Comfortably Invested on 12.28.17 at 11:11 am

Well, it looks like another year has gone by, and housing prices in the real city of Toronto (not Markham, Ajax and other GTA wannabees) are still up. As are the markets. So mortgage free, debt free, and soon to be job free (freedom 58) is looking good. I was smart enough to listen to good advice and use spousal RSPs to allow for income splitting for early retirement, plus built up a healthy TFS balance in both accounts by holding some good index ETFs in there.

My real concern for those of us looking to lean back and retire is that Fancy Socks puts a bullet in the TFSA, either capping it at the current limit or making OAP eligibility asset based and including the TFSA in assets. Kind of like Harper put a bullet in peoples’ plans when he taxed investment trusts that the old folks were using as retirement investments.

#139 LivinLarge on 12.28.17 at 11:13 am

So much name calling.

I’ve been a card carrying dyed in the wool lefty all my life and all my associates tend to be lefties as well. We lefties don’t “want” higher taxes any more than righties want them but we want a more caring society and that simply costs money.

For our first 100 years we Canadians relied on the private sector to provide the social safety net for the less fortunate and most vulnerable citizens but just like trickle down economics doesn’t actually deliver the mythical benefits that the right pontificate it does, relying on the private sector to ensure an adequate safety net doesn’t work. The folks with the means to support the private sector’s safety net programs simply eliminated their private sector charitable contributions. There’s that “me, me, me” generation at its finest.

So, the safety net must be provided by the state now and yes that costs lots and lots of money and it’s coming via taxes.

When the right or left get lower taxes and the requisite lower government spending do they then step up and contribute to fund the safety net directly???? Well, history has sure shown that they don’t in any significant way.

So, you can point fingers and look down on the the poor and less fortunate in Canada and call them all the derisive names you want but the fact remains that very few of them are poor or less fortunate from personal choice.

For me it’s a duty of all those with much to help those with little and while government driven programs may be inefficient, there isn’t any viable alternative.

So, in the end the right wants to keep more of what they made on the backs of the less fortunate and resent not being allowed to and the left are resigned to the fact that poverty is real and needs to be dealt with but that means higher taxes.

Many posters have pointed out when high income-earners are forced to hand over more than 50%, they’re less inclined to charitable giving. So, how much is enough? What additional, unmet burden do the successful have in your view? – Garth

#140 chopstix on 12.28.17 at 11:21 am

i’m looking for some good books/tips/online resources to better invest my tfsa out of my bank…feel free to suggest, please.

also how is this for whacked in stupidly priced Scamcouver: 2220 kingsway in vancouver (not a great area but it’s still in east van..think danforth east)…condos flipped for over 1 million.
https://twitter.com/FIVRE604/status/946255285215051782
https://www.locatehomes.ca/bc-real-estate-listings/search?q=2220+kingsway

#141 Guy in Calgary on 12.28.17 at 11:29 am

“#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm ”

You aren’t wrong.

#142 TurnerNation on 12.28.17 at 11:31 am

-30 windchill in Toronto. Everyone wants to live here! !

The future. 375 square feet condo. Aka Zero Child Policy in Canada.

You’ve come a long way baby.

https://torontolife.com/real-estate/condos/tiny-condo-amanda-graham/

#143 Fake News Again on 12.28.17 at 11:32 am

http://www.taxpayer.com/news-releases/19th-annual-teddy-government-waste-award-winners

Let’s start with 19 years of the TEDDY GOVT WASTE awards. That was the first of MANY MANY links on a quick google search.

Locally……..Fraser Valley Health has 30,000 money sucking employees 30% of which are admin “pencil pushers” that get nothing done. A report comparing our shitty Health Care System shows that for every 1 Admin in Germany…..CanaDUHHH has 15.

#144 Fake News Again on 12.28.17 at 11:34 am

Sorry……I was referencing the Govt Worker who does not believe in the existence of waste in Govt……

________________

#123 Tater on 12.28.17 at 8:47 am
#25 Fake News Again on 12.27.17 at 6:59 pm
#165 Fake News Again on 12.27.17 at 3:35 pm
When will people understand these tax increases are 100% to support the parasite called GOVT.

You mean like education, health care and national security? – Garth

__________

So your suggesting that education, health care and national security means a “FREE PASS” for Bloat, Waste and Govt Worker Entitlement? The 3 levels of Govt in Canada waste BILLIONS of dollars that could go towards tax cuts making the rest of the country wealthy not just the Govt Worker Entitled.
—————————————————————–

Can you give 3 significant sources of waste and how to eliminate them?

#145 maxx on 12.28.17 at 11:45 am

#18 AGuyInVancouver on 12.27.17 at 6:47 pm

“Why do you hate public transit, universal healthcare, or all the other public benefits tax revenue brings?”

Most people don’t – what they do hate is public transit infrastructure that costs too much b/c fools in power screw up contract estimates and get slapped with lawsuits or hire bottom-tier companies that raise bridges – upside down. What people also hate is the result of watching fares go up to the point where they then decide to take alternative means to work – including walking.

What people hate is seeing healthcare corrode from the inside through mismanagement and waste. They hate seeing people in pain, having to wait criminal amounts of time for treatment. (E-record tech. was available decades ago, but provincial gubbmints were too cheap to get on board. Today, they are finally beginning to see the light.)

“Conservatives just don’t get it, the American Era of Me, Me, Me is drawing to a close.”

Hate to break it to you but China and the rest of the world want a huge slice of that pie – NOW. That very same era infected wee, little Canuckleheads right quick and in parallel from the post-war boom to well, now. During that transformative period, Libs have been in power 14 times, that is to say ~56 years out of 72 – almost 80% of the time.
Do your own math on the appropriation of blame you feel should be meted out.

“Trumpism is it’s death rattle.”

Who knows? But if he succeeds in continuing to make lotsa dough for investors and the American economy gains more traction, who’s to say?

“Socialist Europe has shown you can build more pleasant places to live…..”

Yeah………Europe’s in outstanding shape at the moment. May as well sit in a pretty park and contemplate infinity.

“…….and China’s Communist/Capitalism has shown in can out manufacture America.”

Based on what? GDP?

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

The trend is solid, however there are social matters to be addressed……..oh yeah, T2 did really well on that one recently on his last trade mission.

“The era so many Cons worship toxified the planet and now a younger generation will have to repair the damage.”

Not so fast. The post-war boom, during which Libs rode the bull fast, high and far more often than the Conservatives might have to appropriate a wee bit of responsibility in that regard.

“The coming era of AI will mean government will have to redistribute even more wealth to keep angry young men pacified.”

Angry young men of past eras had far more legitimacy to their displeasure than those of today who are generally the most entitled, spoiled and helpless bunch of sorry losers in the history of mankind. The exceptions look like rock-stars, almost alien in nature. Thank goodness for them.
Determination, conviction and sheer will (aka vision) seem like foreign concepts to the angry ones and the fact that EVERY generation has had its challenges flies right over their heads. Envy of the ugliest sort is the order of the day because they want it NOW, from anyone else who has IT!!!
Should the ministry of silly socks blink in the face of these so-called angry young men (did you forget the women of your gen?) they will only succeed in diverting even more tax revenue to waste and pi$$ of those of your ilk who are successful at building a future.

“The Conervatives may hang on as a rump catering to Alberta and its Tar-sand Mini-Me Texans, but that’s it.”

Don’t know the Conervatives nor the others, but even the Tar-sand Mini-Me’s must be busier and happier than “angry young men”.

Maybe a slice of avocado toast will help.

#146 Thought I was screwed too on 12.28.17 at 11:49 am

#43 T
Thank you for posting this response to #23 SCM. It’s what I was thinking as I read SCM’s whiny post. When I was in my 20’s and 30’s making crap money, I also thought I was screwed. But I put on my big girl panties and went back to school (in an area the economy had demand for, not the social “sciences”) and I’m doing well now. People like SCM need to understand they control their own lot in life and blaming it on an entire group of people is just BS identity politics. There is too much of that already being used by Sir Socks of Sussex. Cheers and thanks for making my day.

#147 Lorne on 12.28.17 at 11:49 am

#113 Jay (not that one)
One thing I don’t like about the simplification is suggesting only lefties want higher taxes, or that righties necessarily want smaller government.

History tells us 2 things:

First, that cutting taxes today can just mean we’re borrowing money from the future to do it. We’ve been screwed over before by the national debt, it’s almost certain as interest rates rise that we’ll be screwed over by them again. It doesn’t matter which party created the debt if our taxes are 10% higher to service it at 10%.

Second, that everyone thinks “their” government is the right government. Ask an NDPer about social programs or a CPCer about economic/business development programs, and you might believe they’re both big government Nanny staters. Flip the script and you might assume they’re both suddenly libertarians. Both groups need to pay for “their” government somehow.

The danger in assuming either side has a monopoly on spending or taxation leads us to ignore deficits. If both could, they’d spend a trillion dollars and tax nothing. They’ll both try if we let them.

Understanding that everyone has the programs they want, the only thing I desire is that we pay for all this up-front. Whether it’s a social program or a business development program, tax us for what those programs are worth. We’ll see if voters actually want all those social programs or business development programs once taxes immediately rise when they take effect, and immediately drop once the programs are retired. Recently in Ontario, the government started testing universal basic income. The test is faulty because they only gave a bunch of people money. They need to take a random number of people, give the poorest universal basic income and double the taxes for the rest. Then we can see how the program actually works. I suspect it won’t be nearly the popular program it seems once we test the full effects.

The key is what leads what. Spending cuts must lead tax cuts, and tax increases must lead spending increases.
……..
Exactly why we need some form of proportional representation like most of the world. That way, both sides would have to cooperate to get anything done so we would end up with policies that both sides could support…someplace in the middle…which the majority of people would be happy with.!

#148 45north on 12.28.17 at 11:50 am

slick: I had 4 kids enrolled in a self directed TD Waterhouse family plan. Anyway, started the plan in 1999. went back and double added for the years missed.

Total contribution – $97,500
Gov’t portion – $18,600
Withdrawn to date – $158,135
Current Plan value – $77,500

Open a family Self directed RESP. do your kids a favour, instead of lending them ‘Bank of Mom’ money to have them be house poor for the rest of their lives.

good thinking

Nonplused: The electric thing will never replace cars or airplanes or boats. They cannot. They can probably electrify the railways as it’s easy to put a power wire overhead as they do with many transit systems

they probably will

jane24: (me north45): Most other countries in the world have better weather and are cheaper to live in.

-25℃ today in Ottawa

#149 Adrian on 12.28.17 at 11:55 am

#117 crowdedelevatorfartz on 12.28.17 at 8:31 am

“Soooo, Capitalism bad…socialism good.”

If that is all you took from my post then I just feel bad for you…

Re: China, see back to my thoughts on “tyranny.”

*****

#129 Ed. on 12.28.17 at 9:18 am

Thank you for the reference! I always enjoy an interesting read.

#150 StandardDeviation on 12.28.17 at 11:57 am

I agree with all your points Garth and clearly understand most of the Millenial posters as well. For me as a boomer I see self serving greed as the key failure mechanism of our generations tenure. We (boomers) may have made unprecedented progress in many areas but the singular greed of individuals with egocentric tendencies has choked the future of many that follow. Not necessarily our fault but the system we operated within and the absence of reasonable people following laws made for reasonable people. Something has to change on a macro level or celebrating mediocrity in our political candidates will only get worse regardless of the stripes.

#151 Kathie on 12.28.17 at 12:08 pm

Just wanted to caution investors that are moving capital losses from one account to another to recognize the loss. It is important to remember not to repurchase the investment in the same account for at least 30 days otherwise the loss is not eligible.

#152 Carl Jung on 12.28.17 at 12:08 pm

#139 LivinLarge on 12.28.17 at 11:13 am
So much name calling…..

So, how much is enough? What additional, unmet burden do the successful have in your view? – Garth
—————
Good questions, but I know you can do better.
Might be an opportune season to read:
“The Three Births of the Human Spirit.”

The condensed version:
“The privilege of a lifetime is to become who you truly are.”

Carl

#153 Guy in Calgary on 12.28.17 at 12:19 pm

Watching the eroding of quality in the comments section is upsetting. More hard right conservative bigots here then I originally thought. A lot of hating on this country I love. Oh well.

All this “move to the USA,” then please do. Get out. I hear the quality of life there is fantastic these days. I however, love Canada even with high taxation.

We are by no means perfect, but no one cares to look at the good. We live in a vast, beautiful, safe country that is well respected. From coast to coast this country is beautiful (you guys should drive across it some time and gain some perspective. I’ve done it twice). You get the east coast, northern Ontario with the lakes, the prairies with the huge skies and the rocky mountains. Be flattered that people want to come live here to start a life. Do not be afraid of them it only shows your own ignorance and insecurities. We have the space. Be proud that we are diverse and accepting of others. Like it or not, that is the future. If that scares you then stay inside.

Why do you think there are Americans that want to move here? They already have weed.

Yes we pay a lot in tax and our economy ebbs and flows like all others but all in all, we have it pretty damn good so quit your grovelling, say hello to your neighbour and maybe gain some perspective.

/rant

#154 Maggie the Tech Writer on 12.28.17 at 12:21 pm

Are there no prisons? Are there no workhouses?

If the poor would rather die than go there, they had better do it and decrease the surplus population.

So much hostility has been expressed by many blog dogs toward those who have less than they do. If they actually knew any poor people, they might be less cruel.

I hope these blog dogs were able to un-Scrooge themselves sufficiently to enjoy a merry Christmas. God bless us, every one.

#155 saskatoon on 12.28.17 at 12:32 pm

free money?

nice one, garth! lol.

also, wtf is sprinking?

#156 TRT on 12.28.17 at 12:52 pm

#127 Getting out on 12.28.17 at 9:01 am
How does a Canadian move to and work in the USA

Extremely difficult. Must keep the people inside Canada and prop up the housing market at all cost.

Why free movement of people isn’t a part of NAFTA baffles me (not really). Should be like EU.

#157 AGuyInVancouver on 12.28.17 at 1:18 pm

#145 maxx
I hear Jurassic Park V is casting, you might want to send in a head shot.

#158 Victor V on 12.28.17 at 1:32 pm

$14 minimum wage, free pharmacare for young people, other Ontario regulatory changes start Jan. 1

https://www.thestar.com/news/canada/2017/12/28/14-minimum-wage-free-pharmacare-for-young-people-other-ontario-regulatory-changes-start-jan-1.html

The City of Toronto will be able to impose a vacant homes property tax and the finance minister will be able to allow other municipalities to do so as well.

#159 jess on 12.28.17 at 1:33 pm

“The Way” in latin

co-operation

ITER is the world’s largest fusion experiment. Thirty-five nations are collaborating to build and operate the ITER Tokamak, the most complex machine ever designed, to prove that fusion is a viable source of large-scale, safe, and environmentally friendly energy for the planet.

========
Two heterosexual Irish men marry to avoid inheritance tax on property

Matt Murphy, 83, intends to leave his house to his carer Michael O’Sullivan, 58, but it would have left him with a €50,000 tax bill

==========
greedy bastards

Securities Exchange Commission and U.S. Senate investigators, the Wyly brothers hid hundreds of millions of dollars abroad from 1992 to 2005 in a complex offshore network they used to engage in insider trading and tax fraud.

https://www.icij.org/investigations/paradise-papers/unapproved-drug-sellers-and-sugar-visa-hunters-find-the-elixir-of-long-life-in-nevis/

Judge rejects ex-billionaire Sam Wyly’s claim of tax ignorance

=======

…”Recent research examining the fragmentation of equities markets also suggests that the operation of dark pools can draw order flow away from “lit” exchanges,
reducing liquidity in the latter. In lit markets, the limit order book is publicly displayed; in dark pools, it is not (see Degryse, de Jong, and van Kervel, 2015). Illiquidity itself can be self-reinforcing by discouraging investor participation. In a flight to quality, dealers may have trouble finding counterparties or liquid trading venues to adjust their inventories.”

https://www.financialresearch.gov/gsib-scores-chart/
https://www.financialresearch.gov/financial-stability-reports/files/OFR_2017_FSR_Ch1.pdf
https://www.financialresearch.gov/financial-vulnerabilities/#/
https://www.financialresearch.gov/financial-stress-index/

#160 Potential future HELOCer on 12.28.17 at 1:42 pm

Regarding option ” Borrowing to invest”…

Could the lower earning spouse take out the HELOC solely in his or her name, or are the eventual capital gains always split 50/50 at each person’s marginal rate? Thanks in advance!

#161 Confused on 12.28.17 at 1:54 pm

#153 Guy in Calgary

Well said … sometimes I need a reminder on how great we actually have it. If we take the time to stop and talk to our neighbors to the left and right of us we might see we have more in common than not.

#162 For those about to flop... on 12.28.17 at 1:59 pm

Recent Sale Report.

This one is Pink Snow ,but because it is so fresh of a sale I will have to re-visit it although it has been realtor verified already.

It ain’t official until it’s official.

The details…

2306 w 12th Ave,Vancouver

Paid 2.93 in April 2016

Originally asking 3.28 then3.19 then 3.08 then 2.99

Just sold for 2.88

Tax assessment 2.81

And so another one where the numbers don’t look too bad ,but then Mr Expenses comes and rifles through your sock draw to take the 225k you had laying around ,you will be glad you stocked up on frozen vegetables for the holidays to apply to your forehead…

M43BC

https://www.zolo.ca/vancouver-real-estate/2306-w-12th-avenue

#163 T on 12.28.17 at 1:59 pm

#141 Guy in Calgary on 12.28.17 at 11:29 am
“#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm ”

You aren’t wrong.

———

Like I wrote in a previous post, SCM respresents a small group of losers. Whining losers – who is fact use quite a lot of public services. Congrats on joining the group.

#164 Damifino on 12.28.17 at 2:07 pm

#154 Maggie the Tech Writer

I hope these blog dogs were able to un-Scrooge themselves sufficiently to enjoy a merry Christmas. God bless us, every one.
———————————–

And I suppose you’ll be wanting the entire day off next Christmas.

#165 T on 12.28.17 at 2:07 pm

#154 Maggie the Tech Writer on 12.28.17 at 12:21 pm
Are there no prisons? Are there no workhouses?

If the poor would rather die than go there, they had better do it and decrease the surplus population.

So much hostility has been expressed by many blog dogs toward those who have less than they do. If they actually knew any poor people, they might be less cruel.

I hope these blog dogs were able to un-Scrooge themselves sufficiently to enjoy a merry Christmas. God bless us, every one.

———

Most of us whom ‘have more’ worked very hard to ‘get more’. When we are attacked by the lazy, self absorbed, and ignorant – are we expected to respond with apologies for our success and handouts?

There is no free ride. SCM and the likes need to start understanding this very quickly.

#166 no wifi at the poorhouse on 12.28.17 at 2:11 pm

We didn’t complain when Mulroney brought in the $500k “lifetime” capital gains exemption. We didn’t realize he meant the lifetime of his pet hamster. Our bad.

We also didn’t whine when Harper doubled the TFSA limit, thinking that maybe someday we could participate. Then he cut interest rates and created a real inflation rate that only Venezuelans dream of. At least we’ll never be “house poor”.

We also thought the RESP was a lever to pull up our bootstraps, but the ubiquitous degree became as useful as a granite countertop. Mea culpa.

Now should we “Borrow to invest”? Hmmm…
Maybe, we’ll just put that one under the category:

Free advice for what it’s worth.

(a) It was Chretien, not Mulroney, that restricted the capital gains exemption to small businesses, where it remains in excess of $800,000. (b) Harper did not cut interest rates, as that was a decision by the central bank to deal with the credit crisis. (c) The RESP provides a guaranteed 20% return on investment. Stop embarrassing yourself, Ron. – Garth

#167 Rational Observer on 12.28.17 at 2:17 pm

#127 Getting out on 12.28.17 at 9:01 am
How does a Canadian move to and work in the USA

Some apply for graduate student positions at US universities, work in research for 1-6 years, then find a job with a US company that sponsors them for a work visa. Not easy, but possible.

Some work for multinational companies and are transferred from a job in Canada to a job in the US. They need a company willing to sponsor them for the work visa.

Some move to the US via marriage preference immigration category. I only know 2; both homemakers. They can work legally if they want to.

Or, just walk over the border and take on work in landscaping, roofing, agriculture, restaurant, etc. Hourly cash pay. This is of course illegal, so not recommended.

Background, interests and contact info?

#168 Geoff on 12.28.17 at 2:21 pm

” Yes, effective Monday, Bill Morneau is dropping the hammer on sprinking. Business owners will no longer be able to split income with their spouses, but girlfriends and professional escorts are okay. ”

Garth, I thought there were exceptions to this or do the exceptions not apply for spouses? e.g. Over 25, 10% ownership, and <90% of income from a service (and not a professional corp).

#169 conan on 12.28.17 at 3:23 pm

#165 T on 12.28.17 at 2:07 pm

There is no free ride. SCM and the likes need to start understanding this very quickly.

I agree, but nor should there be dead ends. We are setting up future generations for failure. This is the Planet Earth, not some door to door sales con.

#170 IHCTD9 on 12.28.17 at 3:41 pm

#94 Newcomer on 12.27.17 at 11:59 pm
#65 IHCTD9 on 12.27.17 at 9:42 pm
#30 Stewie on 12.27.17 at 7:22 pm
———-

…The universal basic income will pay everyone in the Province for doing zip. …
If it flies, I may arrange to be “laid off” for a couple years while I build a house on one of my lots.

——-

The point actually is that, unlike the present system, it doesn’t matter whether you are laid off, or working, or sick, or an entrepreneur, or whatever, you still get the money. That’s what makes it “universal.” One of the proposed benefits is that it would let people do things like building a house, or starting a company in their garage, rather than having to work for wages all the time.

I’m not a fan, as I think it will just result in inflation and social disfunction, but that is the thinking behind it
———-

I am totally for the UBI if, and only if – they lay off the entire staff of Ontario Works that dealt with welfare payments. The result would need to be verified as lower costs for the taxpayer for equal or better benefit to the existing and future recipients.

My gut feel (which is correct 99% of the time) is that this could never happen here in Ontario. In this case, the UBI would just be another colossal expense for the taxpayer to shoulder.

#171 LivinLarge on 12.28.17 at 3:44 pm

Oh Fearless Leader. “Many posters have pointed out when high income-earners are forced to hand over more than 50%, they’re less inclined to charitable giving. So, how much is enough? What additional, unmet burden do the successful have in your view? – Garth”…direct engagement, thank you.

Well, first, although it is logical the way trickle down economics is logical, it isn’t actually true that the well off pulled back their charitable giving when their taxes exceeded 50%. They startd the pull back a generation earlier starting in the 20s and 30s when we had the huge diaspora from rural living to urban living.

In my grandfather’s generation around WW1, more folks lived in rural Canada than lived in urban Canada. Back then in the “good ol’ days” before income tax, CPP, OAS etc., to get more wealth in your overalls you bought another cow or two or maybe another parcel of land. You took over the family farm or married a family farmer and your parents lived in the farmhouse until they died. The vast majority of Canadians actually belonged to a church that provided a safety net for the poorest in the county.

Most people lived in major part via subsistance agriculture, with a home garden etc.

All that changed with the diaspora. We can’t go back to that time so that “slack” in the system must be made up somehow and it’s either direct government support or tax incentive programs like the MURB fiasco.

When no one in Canada dies from malnutrition or exposure in our cities. When everyone who needs a roof over their head can get one without having to starve to accomodate it. When children have the realistic expectation that getting an education and putting in a days work will at least provide them with the necessaries of life. That’s when I think enough will have been done.

How much will that cost? Hell if I know. I know it hasn’t been accomplished yet so I’m guessing it will cost more than beeing collected right now.

Canadians in 2017 and for many years before, pay more for hair care products in a year than they give to charity and if anyone thinks that’s appropriate then they’re living in Czarist Russia or Feudal England.

Personally, I keep a half dozen grocery store gift cards in my wallet to give to anyone I find homeless or n need of nutrition. That’s not all I do but that’s one thing.

We can’t eliminate hunger because everyone will be hungry again tomorrow but we can go a long way to eliminating malnutrition.

#172 Rexx Rock on 12.28.17 at 3:47 pm

Pot stocks are making alot of people rich and retiring a little earlier.Good times baby!!Easy money as I’ve ever seen it in the stock market.Its like a Vancouver house but in a shorter time.

#173 Ron Doe on 12.28.17 at 3:49 pm

#166 no wifi at the poorhouse on 12.28.17 at 2:11 pm

(a) It was Chretien, not Mulroney, that restricted the capital gains exemption to small businesses, where it remains in excess of $800,000. (b) Harper did not cut interest rates, as that was a decision by the central bank to deal with the credit crisis. (c) The RESP provides a guaranteed 20% return on investment. Stop embarrassing yourself, Ron. – Garth

***********
A. You know (or should) I was referring to the $500k personal income capital gains exemption.

“Introduced in the 1985 Budget, $500,000 of lifetime capital gains was exempted from personal income tax. This was reduced to $100,000 in 1987 (ed. still Mulroney), and the measure was eventually eliminated in Paul Martin’s 1995 Budget, except for small business owners and farmers.”

B. So the Governor of the Central Bank who is responsible to the Minister of Finance who is appointed by the head cheese operates in a totally autonomous, hermetically sealed vacuum. LOL

B. The degree the RESP money produces is often a 0% return on investment, sometimes negative if they still live at home.

Are we on a first name basis now ? Not trying to embarrass anybody, Garth. It just happens.

Happy New Year, seriously – if u are in the area drop by for nog. Ron

#174 Overheardyou on 12.28.17 at 3:57 pm

#42 Yorkville Renter on 12.27.17 at 7:46 pm
trying to understand how “gifting” money to lower-income spuse works for a TFSA… her $$$ in my $$$ and vice-versa… Is it an actual CRA thing, or is that just for an RRSP?

—–

I believe you can legitimately gift up to $14,000 per year to a family member or spouse. Someone please correct me if I’m wrong

#175 IHCTD9 on 12.28.17 at 4:21 pm

#97 Devisiveness is getting tiresome on 12.28.17 at 12:44 am

…and I’m ok with paying a reasonable amount of taxes if it goes to these things

————-

I’m about as big a right wing neandercon you’ve ever met, and I agree with you here. In fact, I’d bet 99% of us knuckle dragging cave dwellers would care much less about heavy taxation if it was evident that the funds were actually used for the intended stated purpose, and that our bird brains in Ottawa were stewardly and responsible in spending said funds.

As it is, we have huge taxes, yet the debt ever increases, and we’ve been running 11 figure deficits since T2 was given free reign. We regularly see our taxes squandered on ideological garbage and government run boondoggles. Right now, I can make more money mopping the floor for OPG than I currently make as a sales manager for a 40 person private sector company, and I am 3rd highest paid in the organization.

The fact is DiGT, a giant chunk of our taxes are NOT going to the things for which they were intended, they are in large part being incinerated by idiots, to no good end for most Canadians.

The big difference seems to be that the cave dwellers want this waste to stop, while the socialists want it to continue on, with no regard for what good it is actually doing.

In the end, both groups want what they each think is best for the Country. But both groups cannot both be right…

#176 T on 12.28.17 at 4:27 pm

#169 conan on 12.28.17 at 3:23 pm
#165 T on 12.28.17 at 2:07 pm

There is no free ride. SCM and the likes need to start understanding this very quickly.

I agree, but nor should there be dead ends. We are setting up future generations for failure. This is the Planet Earth, not some door to door sales con.

———

Takers will always take as much as they can. Where does it stop? Should we continue to provide for those too lazy and ignorant to provide for themselves? Do you want to be subsidizing the lives of people who spend their time complaining rather than being productive?

I’m all for social safety nets. However I’m firm on the belief we have enough, and pay enough, as it is.

#177 crowdedelevatorfartz on 12.28.17 at 4:32 pm

@#149 Adrian
“If that is all you took from my post then I just feel bad for you…”
+++++

Gee, and here I thought the shortened “Readers Digest” version of your #95 comment droning on and on in an endless, pseudo intellectual plagarism of Peterson to Picketty prattle was for the greater good……
Jumping from Psychology to Economics and quoting everyone you can to educate the braying, intellectually disadvantaged mob.
How painful it must be for you to lower yourself to our intellectual level.
How do you stand it?
Not to worry , The Holidays are almost over and University starts next week….you can get more material from your profs to regurgitate ad nauseum at the next “Wing Night” at the Keg to impress the waitresses.

#178 Kelsey on 12.28.17 at 4:39 pm

Government spending is like a dog eating its own poop and claiming it had a nutritious meal that contributed to a vibrant economy and GDP growth. The Welfare State starts by eating the seed crop of an initially productive capitalist economy and ends by eating its own excrement and lying about how many calories it had that day.

Just think about how much NASA got done in the 60s when it hired Engineers from the free market, and now how much it can accomplish with its lifers and inevitable politicization. Or for an even easier example, consider what life was like under Mao in China, or Stalin in Russia, or in North Korea vs. South Korea, etc., etc. And don’t dwell on where the Scandinavian countries are today, but look at where they’re headed.

Most of us are not upset about money that goes to the deserving poor, or infrastructure, or national defense. But the money that is supporting the CBC, endless government administrators, liberal arts majors, etc., is what people have an issue with. The small percentage of our taxes that actually achieve certain aims are necessary for society to function and generate a high ROI. But the amounts above and beyond a certain point have a diminishing return and I would argue actually generate a negative return as these ever growing amounts incentivize a self-entitled metastasizing Welfare State that feels good in the short-run but will end in either disaster or painful reform. And there is a massive difference in the effectiveness of $100 given through charity versus $100 given to people who feel entitled to collect “their fair share” from some abstract concept of “the man”. The so-called man (aka Tax Donkeys) are actually just ordinary, real-life people in the free market who earned their income through hard work and not by “exploiting Little Timmy” or whatever other fables people tell themselves to justify using state violence to collect tax rates well beyond what is required for the collective to sustain and defend itself.

#179 IHCTD9 on 12.28.17 at 5:01 pm

#111 Eyestrain on 12.28.17 at 7:13 am
Heroes of the Resistance (distribute freely)

Brigette DePape
http://www.cbc.ca/beta/news/politics/senate-page-fired-for-anti-harper-protest-1.1057092

————

Thanks, I had a good laugh reading that one, what was she expecting lol? She lost what could have been a very well paying future career in politics – for nothing. Harper is long gone, and she’s probably flipping burgers now.

She was all worried about Harper spending money on jet fighters, but Harper had the deficit down to 941 million 4 years after she was unceremoniously hauled off the floor by security for being an idiot.

Now we’re running 20 BILLION dollar deficits every year under Trudeau. Harper wanted to buy 65 F-35’s for 9 Billion. With what Trudeau has blown on climate change and gender issues, we could have already bought TWO HUNDRED AND EIGHTY SIX F-35’s lol! In only TWO years worth of running the show!

Hahahahahahahahahahahaha!

#180 crowdedelevatorfartz on 12.28.17 at 5:06 pm

@#136 Howard the Duck

“They are unhealthier, yes, due to having far more stressful lives than their Boomer parents who more or less floated through life on a fluffy cloud. They are also far poorer and can less afford the increasing prices for healthier options.”

++++++

Sorry Mr Duck.
Total disagreement.

As a Late Boomer ( born at the end of the Boom) i spent my entire working life scrambling for non existant jobs as the previous mentioned boomers were happily employed and not moving and the ensuing recessions in the mid 1970’s and 1980’s merely solidified their resolve to stay put..
Or the Canadian govt that cut the military, public spending to the bone with hiring freezes, high interest rates(25% interest mortgage rate anyone?)
But no you dont want to hear about that .
Just the unfairness of living rent free in your Boomer parents basement ( of which 90 % of my Boomer friends are currently doing with their 20- 30 something boomerang millenial brats…free rent, free food, free laundry, car, etc etc etc)
Or the “unfairness” of a military that is screaming for recruits, offering signing bonuses , free tuition, and excellent benefits.
Or the projected jobs market boom when all these Boomers retire in the next decade and the ensuing housing price debacle as they are forced to boot the brats out and sell to afford a retirement of cat food and crackers .
Its all soooo unfair.

No .
Just keep whining as Canada is forced to increase immigration for people who actually want to work hard and get ahead.

Its all about you.

#181 newbie dog on 12.28.17 at 5:06 pm

…..also,you don’t have to deduct an RRSP contribution on your tax return in the same year you make the contribution……..so if you maxed out your TSFA you can put money in your RRSP today and use that contribution amount to reduce taxes later in life when you are in a higher tax bracket.

https://www.getsmarteraboutmoney.ca/plan-manage/retirement-planning/rrsps/making-rrsp-contributions/

#182 Freebird on 12.28.17 at 5:20 pm

#165 T
Most of us whom ‘have more’ worked very hard to ‘get more’. When we are attacked by the lazy, self absorbed, and ignorant – are we expected to respond with apologies for our success and handouts?
———-
Apologies yes, it seems from many, and WITH handouts. Neither from voluntary goodwill (which a lot do in various ways for important causes which benefit many) but from guilt. Yes, many who donate get a tax benefit but it doesn’t negate the benefit to receivers.

I wonder how many who seem to attack the idea wealth or begrudge financial success if given a lottery win in the millions would support the idea of taxing their winnings for the greater good? Maybe some would.

Happy New Year

#183 ANON on 12.28.17 at 5:26 pm

Suppose if Jason Kenney becomes premier of Alberta.
Will he be able to revert the province back to the good ol days?

Not even J.C., son of God can stop the promises of more (be they for houses, coinybits, producing stuff or buying the said stuff) from being “lost”. However, J.C. could try a miracle of printing said IOUs instead of fish and loaves, but then the trillions of IOUs will be worthless, except for heating purposes.

There is no means of avoiding the final collapse of a boom brought about by credit expansion.
–Dude Mises
There is no means of expansion except by credit creation
–Dude ANON’s corollary

#184 Guy in Calgary on 12.28.17 at 5:30 pm

#163 T on 12.28.17 at 1:59 pm
#141 Guy in Calgary on 12.28.17 at 11:29 am
“#23 Screwed Canadian Millenial on 12.27.17 at 6:57 pm ”

Like I wrote in a previous post, SCM respresents a small group of losers. Whining losers – who is fact use quite a lot of public services. Congrats on joining the group.

————————————————————-

You jumped to a conclusion about my age, work ethic, net worth, drive, passion and work habits based on 3 words I typed. You have obviously never read any of my other posts on taxation, fairness etc. Just because someone believes in a different taxation scheme or political point of view does not make them a loser.

I have called out the SCM troll many times however they are not always wrong and having someone provide different points of view should be considered something of value. You do not have to agree but as long as it makes you think, it’s good. You have offered nothing.

Your inability to spell the word “represents” or put together a coherent sentence concerns me. Perhaps you are too old to know how to use a spell check or you do not know what the red line under your typed words means. Or maybe it means you are an illiterate fool with nothing to add. I can jump to conclusions too.

Well done.
I’m bored.

#185 LivinLarge on 12.28.17 at 5:31 pm

Overheardyou, me thinks you are reading far too much into the concept of contributing to a spouse’s TFSA just as Yorkville did. It’s really really simple. Two maxed TFSAs are better than one maxed and one unmaxed. That simple. Free growth and free withdrawal is the best and most egalitarian investment op available to us. So, the best money you can spend for your future well being is to ensure as much as possible is in the family TFSAs

Now, T “Takers will always take as much as they can.”…an oft expressed but still simply wrong. As a proportion of their incomes, the lower 99%ers contribute more to charitable causes than the 1%ers do. Yes, those contributions are more likely to be in $1 and $5 increments at the grocery checkout or maybe buying a paper balloon at Costco or coins in the Sally Ann pot at Christmas but the how doesn’t matter when you talk about a proportion of income.

The wealthier Canadians may give larger sums to save the children in the Sudan or maybe via a service club etc. but the middle classes and poorer contribute more to the local, on the ground in their community needy.

So, the “takers” as you malign them carry far more of the burden of our collective social safety net than you give them credit for. Maybe it’s a case the poorest knowing first hand what it feels like to have been cold, hungry or affraid of not being able to pay rent AND utilities this month so they are more inclined to give but for what ever reason, they do.

Just stand and watch a homeless person begging for money on the streets of Toronto for an hour and take note of the apparent social status of the folks who actually give them money. The $1,000 suits don’t give them anywhere near what the average citizen does.

#186 Kurt on 12.28.17 at 5:41 pm

#20 -JSS: No. The economic fundamentals are not there. He’ll have to hack and slash; he’ll be fortunate that the NDP preceded him and will blame them, but the out-of-control growth in government costs (relative to revenue) occurred under successive conservative governments.

#187 AGuyInVancouver on 12.28.17 at 6:26 pm

165 T
Most of us whom ‘have more’ worked very hard to ‘get more’. When we are attacked by the lazy, self absorbed, and ignorant – are we expected to respond with apologies for our success and handouts
_ _
Sure you did. Just like Galen Weston worked real hard to get where he is today. Or the current generation of McCains, Desmarais’ etc.

#188 Joe Schmoe on 12.28.17 at 6:38 pm

#185

I appreciate your posts.

But my personal opinion is taxes appear to keep going up and things are getting progressively worse for the poor.

JT and gang will spend 99% of my tax dollars on vote pandering…meanwhile I know there are cuts to local social assistance programs and my local homeless problem is exploding.

Feds will say it’s the provinces fault. Province will say it’s the City’s accountability and the City will say they don’t have the money to do anything.

Meanwhile, every level taxed me more in the past two years.

You seem intelligent enough to realize more government intervention is not a solution. I am not saying this was always the case. But it is the current situation.

#189 LivinLarge on 12.28.17 at 7:27 pm

Joe, taxes more than “appears” to be going up, they are going up and unless inflation goes to zero then they have to continue going up and up and up. To provide the same services next year simply costs the government more. That is the unavoidable issue with inflation…it just churns along. However, without inflation things get uglier too. Damned if you do or don’t.

It’s a cold ugly world and there are far too many people consuming everything.

When you say “government intervention” is a bad thing then I do disagree with you. The only purpose to have governments in the first place IS to intervene. Otherwise tribal society works perfectly. But we have too many people consuming too much stuff and living too close together to exist as a tribe ever again. If it weren’t for that government intervention none of us in S. Ontario would even be getting our horses and buggies out of the barn this week.

T, cry me a river. More of the folks who have very little, work harder and under far less pleasant circumstances than the folks with a lot have. Life sucks all over. The only ones I find complaining are the ones with the time to complain.

#190 Adrian on 12.29.17 at 1:15 am

#177 crowdedelevatorfartz on 12.28.17 at 4:32 pm

“How painful it must be for you to lower yourself to our intellectual level. How do you stand it?”

*****

Lol! With great difficulty ;-)

#191 T on 12.29.17 at 3:09 am

#184 Guy in Calgary on 12.28.17 at 5:30 pm

Nice attack on a spelling error, not all browsers have a built in spell check. And who has time for proofing comments to ensure perfect spelling and grammar?

I believe I made the correct assumptions on who you are. Certainly if you agree with SCM and fault a single generation for social and financial challenges.

#192 cropgrower on 12.29.17 at 5:15 am

What is so hard to understand about “gifting”money. Gift all you want to your spouse, kid, dog, cat, guy next door, whoever….who would care?

#193 TequilaJuan on 12.29.17 at 9:15 am

#13 BillyBob – I agree.

A drastic move but I’ve already applied for permanent residency in Mexico. A drastic move, I agree. Besides
great weather, the cost of living is 1/3 of what it is in Canada. (probably 1/4 of what it is in GTO)

#194 T on 12.29.17 at 4:20 pm

#189 LivinLarge on 12.28.17 at 7:27 pm

T, cry me a river. More of the folks who have very little, work harder and under far less pleasant circumstances than the folks with a lot have. Life sucks all over. The only ones I find complaining are the ones with the time to complain.

————

You are more than foolish if you think I am crying about anything. I’m standing up against the lazy and ignorant.

#195 T on 12.29.17 at 4:31 pm

#187 AGuyInVancouver on 12.28.17 at 6:26 pm
165 T
Most of us whom ‘have more’ worked very hard to ‘get more’. When we are attacked by the lazy, self absorbed, and ignorant – are we expected to respond with apologies for our success and handouts
_ _
Sure you did. Just like Galen Weston worked real hard to get where he is today. Or the current generation of McCains, Desmarais’ etc

—————

You are an absolute idiot. Growing up my family was considered poor. I worked my ass off from the day I picked up my first paper route onto building a very successful business by my mid twenties.

But keep the jealousy rolling. It looks good on you.

#196 T on 12.29.17 at 4:37 pm

#185 LivinLarge on 12.28.17 at 5:31 pm

Show some references for the information you provide. Everything you write is just fictional nonsense.

Have you spent time with a homeless person or have been homeless? Obviously not. I have.

But hey – keep the bs coming.

#197 AGuyInVancouver on 12.29.17 at 7:26 pm

#195 T
LOL and you probably walked 5 mikes to school and sold matches in the snow, right? If your knickers get twisted so easily you shouldn’t make such sweeping generalizations as “most of us who have more worked very hard to get it”.

#198 T on 12.29.17 at 10:35 pm

#197 AGuyInVancouver on 12.29.17 at 7:26 pm

You have completely lost focus of the argument and are using the equivalent of sound bytes to prop yourself up.

Nicely done.