Fat tax

What are the fairest taxes? Dumb question. The ones other people pay, of course.

As we cruise towards a federal election in exactly four months and as the Americans wade into a presidential campaign, taxes are a big deal. In the last four years the Libs have gutted the contribution limit on the most popular tax shelter (the TFSA), raised taxes bigly with a new bracket for upper-income earners, assaulted the self-employed, eliminated small-business income-splitting and jacked taxes on stock options. If re-elected, the agenda may include higher capital gains taxes and lower dividend breaks. All in the name of fairness, of course.

The reason?

Simple. It’s the Gap. The income gap. The wealth gap. The 99% and the 1%. In a democracy nobody wins office promoting policies to assist the affluent, even if these are the folks forming companies and creating jobs. You gain power with ‘us’ vs ‘them’. In this case, you know who ‘them’ is. The more someone earns or has, the bigger the tax target they are.

The latest barrage comes, unsurprisingly, from Jagmeet Singh and his NDP. The “New Deal for People” platform, released days ago, says this:

To make our tax system fairer and ensure that the wealthiest individuals are paying their fair share, we will increase the capital gains inclusion rate to 75 percent. A New Democrat government will also boost the top marginal tax rate and ask the very richest multi-millionaires to pay a bit more towards our shared services with a new 1 percent wealth tax on wealth over $20 million.

Hmm. Increasing the cap gains inclusion rate would be a major change in tax policy and hit capital markets with a thud. As for the top marginal rate, it’s already over 50% in a majority of provinces, topping out as high as 54%. Should the state really take more than half what successful people earn? And then add a 1% wealth tax? (At least $200,000 more annually for the ten thousand people in Canada impacted.)

In fact, Jag’s got a whole video about tax ‘fairness’. Ensure you’re sitting down as you watch it.

In Canada, the lefties (which now embraces the Trudeau Liberals) and in the US, the Dems (AOC, Warren, Sanders et al) are out to exploit the Gap. The fiction is that there are so many rich people all government need do is prick them a bit more and, presto, money will flow for services and redistribution. Our political leaders portray upper-income dudes as coupon-clippers, trust fund kids, fat cat business owners, avaricious rentiers, slack-off professionals or privileged financial bloggers. In contrast, everyone else is a “hard-working Canadian”. Vote for me. You’ll get more. The other guy pays. How can you lose?

The experience so far?

The Trudeau eat-the-rich tax bracket was supposed to yield $2 billion in new revenue and pay for a teensy middle-class tax cut. But, whoops, didn’t happen. Seems rich people are like everyone else (who knew?). When you change the rules, they change with them. Because income morphed into other forms of compensation, the tax take has been pitiful. Meanwhile this erosion of the tax base has meant provincial coffers are also. The net impact of a tax increase has therefore been a reduction in overall government revenue. Obviously things are not so easy. Or voters have been lied to.

Well, as we lurch towards the election a poll finds 70% of Canadians support the idea of a wealth tax. If implemented, it might click in with assets at $20 million. Over time you can be sure the threshold would drop. Since ‘wealth’ includes the assessed value of a house as well as investments and the market worth of a business, the net would widen.

But it turns out that wealth taxes may be a bad idea, which is why only four countries in the developed world still have them. Now a study by the CD Howe Institute (yeah, I know – right wingers) concludes the Gap could be narrowed better by reforming existing taxes on capital, plus bringing in an inheritance tax. The study points out that real estate is already taxed according to its value by local governments, plus there are lots of people who have wealth but not much income. So how would a pensioner living in a house that the market pushed up in value pay? Is it fair to force them to sell?

Taxes in Canada have never been higher nor so pervasive. And yet the federal government spends far more than it takes in, adding the rest to the debt on which taxpayers pay gobs of interest. After giving billions to people to have kids, politicians are now peddling free pharmacare and hinting at a guaranteed income for all.

Telling voters the rich will finance this is fiction. It’s fraud. But it works.

149 comments ↓

#1 TurnerNation on 06.21.19 at 3:58 pm

I feel the need to signal my virtue and am declaring a Climate Emergency in this comments section only.

#2 JB on 06.21.19 at 4:22 pm

The Trudeau eat-the-rich tax bracket was supposed to yield $2 billion in new revenue and pay for a teensy middle-class tax cut. But, whoops, didn’t happen. Seems rich people are like everyone else (who knew?). When you change the rules, they change with them. Because income morphed into other forms of compensation, the tax take has been pitiful. Meanwhile this erosion of the tax base has meant provincial coffers are also. The net impact of a tax increase has therefore been a reduction in overall government revenue. Obviously things are not so easy. Or voters have been lied to.
……………………………………………………………..
I’m Italian background and like my mother and father always said you don’t spend what you don’t have saved. They like typical Italian immigrants pay “cash money” for everything. With the exception of their home everything was cash, no credit. Mr Socks spent money he didn’t have recklessly and now he will have to find it somewhere. And yes we have been lied too by T2 and his cronies. Jagmeet Singh is going to learn a life lesson in this election on trying to tax the rich or anyone for that matter. We have all had enough of taxes. Well he will have his 15 minutes of fame then poof it’s over.

#3 JB on 06.21.19 at 4:24 pm

BTW Garth, really a CAT?

#4 Cottingham a bargain on 06.21.19 at 4:30 pm

Stealing money from people who have it is immoral. I have no more right to bill gates money than he does to mine. A wealth tax is just that. I would argue that Jagmeet Singh is a wannabe Robin Hood , a thief.

Leftie, socialist policies are immoral and they reek.

Just because three people get in a room and vote to take the third ones money does not make it right.

Democracy’s flaws clearly exposed here.

One of your best posts ever Garth !

#5 Biff on 06.21.19 at 4:31 pm

Pardon the pun but ‘your right on the money’ with this posting.

#6 Cottingham a bargain on 06.21.19 at 4:32 pm

Meant to say three people in a room and two vote to take the thirds money.

#7 Mike on 06.21.19 at 4:35 pm

On the topic of the “rich”, I’ll just leave this here:

http://www.smalldeadanimals.com/index.php/2019/06/21/its-good-to-be-rich-and-a-liberal/

#8 Lee on 06.21.19 at 4:35 pm

I think the proposed wealth tax would apply only to wealth over 20M, so for someone with 20M in wealth it would result in zero wealth tax. If you earned no return on your wealth, as some do, everything over 20M would be eaten up over time, partly in your children’s hands. It might actually spur super wealthy people to spend their money, at least the amount over 20M, or move it to Curacao. You know, it only takes 25 jumbo jets full of people for all of Canada’s super wealthy to move away. Then we’re all screwed. I don’t think Singh’s plan is that radical by the way. Most wealthy would live with it. Of course he’ll never win. Green is now third in most polls.

#9 Dolce Vita on 06.21.19 at 4:38 pm

Trudeau fooled enough in 2015 with this tax the rich, give to the Middle Class, Progressive Ways, etc.

For the most part, it’s all blown up in his silly face and he is now seen to be a Charlatan.

I trust in Canadians, that they are biding their time and have made their minds up about Trudeau, Singh, et. al.

Fool me once, shame on you. Fool me twice, shame on me.

There will not be a 2nd time come October – for Trudeau or Singh.

#10 Old Dog New Tricks on 06.21.19 at 4:42 pm

Just hope they leave div tax credit and cap gains alone. I have a feeling nothing is safe at this point. How else will they pay for UBI.

#11 Theend Isnear on 06.21.19 at 4:43 pm

Let’s go back to 1940 when war taxes were most of your income if you were deemed wealthy. There were plenty ‘dollar a year’ men in Ottawa who worked like the orange man down south for a measly buck per annum. Lets have the same commitment from the greens and every other advocacy group who declares yet s new war to fight. Poverty drugs climate invasive flora … let alone those target all the troublesome Justin’s if the world like Justin Bieber. Justin Trudeau. let alone Justin i
Incredible who solved and won the high housing battle in BC. Now a moment of reverent silence for my long deceased and fondly remembered savings account r. Oh absent interest … where is thy sting?

#12 PA on 06.21.19 at 4:44 pm

Garth, you’ve stated the problem well. The real question is- what is the recourse possibilities for individuals ….. leave the country and pay the exit tax?

#13 dave on 06.21.19 at 4:51 pm

Iran seems to be getting pinched every few hours, USA drown goes down and their missiles almost fired. No one will support a war over a drone or other minor fake news incidents.
Something bigger is coming, perhaps Saudi gets attacked and the Americans to the rescue.
Result – what will happen to Canadian Oil prices? Calgary/Edmonton/Fort Mac are going to become boom towns once again?

#14 Go Andy Go on 06.21.19 at 4:51 pm

T2 minority propped up by greens and dippers…… the horror….. and kiss Canada bye bye.

#15 Dolce Vita on 06.21.19 at 5:00 pm

Retail Trade Sales by StatCan out today. Pretty good, consistent with prior years and on the increase (other than the odd surprise here and there like BC and a new Temperance Movement in Canada?).

March–>April 2019

+$2.17 Billion (Unadjusted)
+$60 Million (Seasonally Adjusted)

Chart over the past 5 years (ought to be obvious why I use Unadjusted data instead of the farce that the Seasonally Adjusted data is):

https://i.imgur.com/VII21mD.png

The biggest surprise in what should be a big jump in April Retail Sales vs. March was near flat for BC at only +$80 MM compared to that of AB at +$371.5 MM (Nfld & Labrador, NWT and Nunavut dropped in Retail Sales, everyone else up):

https://i.imgur.com/qXt8v0w.jpg

By N. American Industry Classification: Motor vehicle and parts, building material, garden equip. and supplies and General Merchandise big increases (as expected, Canadians emerging from their dens and spending).

Oddly, Food & Beverage down by $287 MM (new Temperance Movement, eh Canada?):

https://i.imgur.com/ZXfq2Bc.jpg

I like Retail Trade Sales as an indicator of the economy, for example here are the 2018 Unadjusted results:

2018 GDP as of December, $ CDN = 1,945,064,000
2018 Retail Trade Sales (Total Year), $ CDN = 605,934,029
% of GDP = 31.2%

Still, you wonder how the other 70 some odd % of GDP is doing.

Base data, Unadjusted and Seasonally Adjusted:

https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=2010000801

#16 X on 06.21.19 at 5:07 pm

‘70% of Canadians support the idea of a wealth tax. If implemented, it might click in with assets at $20 million. Over time you can be sure the threshold would drop.’ Garth

What troubles me with things like this is that $20 million sounds like alot of money, and right now it is. However many years ago the thought of average house prices being over a million dollars also seemed silly.

When a tax like this is implemented, even if it isn’t lowered, eventually everyone ends up surpassing the threshold and paying the tax.

I don’t think we have a tax problem, I do believe it is a spending issue. But everyone wants everything for nothing.

#17 Remembrancer on 06.21.19 at 5:13 pm

Sigh, the current state of Conservatism in Upper Canada in a nutshell – unqualified and running around looking for stupid ways to spend more of our money…

https://www.cbc.ca/news/canada/toronto/ford-rescinds-patronage-appointments-albrecht-shields-1.5184621

https://www.cbc.ca/news/canada/toronto/renata-ford-will-be-a-candidate-for-maxime-bernier-s-people-s-party-of-canada-1.5184851

#18 Sebee on 06.21.19 at 5:13 pm

OK Garth, so the government will pay off debt with O.P.M., how will the 178.5% debt piggies pay off theirs?

We know this strategy won’t work. We know the government implemented these policies already and still increased debt hugely.

So…what should they do? Easy to point out problems Garth. Let’s have solutions! Or are you scared to deliver the really bad news? Should we out on the VR glasses?

#19 Bob Dog on 06.21.19 at 5:14 pm

If we nationalize the banks we could eliminate income tax altogether. Just mentioning this I fear I will soon be sipping tea with Abraham Lincoln and John F. Kennedy.

The creation of the greenback to fund the civil war

https://bankingjournal.aba.com/2018/02/lincoln-and-the-banks/

Executive Order 11110

https://www.john-f-kennedy.net/thefederalreserve.htm

I find it interesting Iran is the only major country left in the world with no central bank. Looks like that’s about to change soon.

#20 Renter's Revenge! on 06.21.19 at 5:15 pm

Even though I’m not one of the “20-millionaires” being targeted with this tax, I still find it really insulting to my intelligence every time they say they’re going to ask the rich to pay “a bit more”. That way, they can accuse them of being cheap or greedy if they protest, even though we all know it’s not just a bit more, it’s a lot more, and governments have been adding “a bit more” to the taxes for a long time, so it really adds up now.

#21 Dolce Vita on 06.21.19 at 5:21 pm

#11 PA

Leave.

Keep your money in Canada. Global electronic banking, investing & the Internet your friend. Of course, with that comes money launderers…oh well, you can’t win them all. There are parasites everywhere, at home and abroad.

Welcome to Planet Earth.

—————————————

TRAVEL ADVISORY if you are coming to Italia and Environs in the next week. You will roast that MILK TOAST Canadian Winter skin of yours (no translation needed, Meteo Italia are such Drama Queens…I can see them and Justin getting into a right punch up about who gets to use the brightest crayon color):

https://i.imgur.com/cJbfAcF.jpg

Meteo Italia habitually under reports the daily high temps. in Summer so as not to scare the living daylights out of would be tourists. Take that 36-38°C and add at least 4°C (those numbers are devoid of the Canadian Humidex calculation, thus, add even more).

At least someone over here will tell you the truth.

Ciao d'[*]Italia e Buonanotte.

*In about 4 days, Dante’s Inferno lasting for a week or so.

#22 Brian Ripley on 06.21.19 at 5:24 pm

I’ll drag out my mashup of a tax system that would:

…by capitalizing on financial data processing technology, it is possible to create a tax code for the 21st century that is astonishingly easy for all citizens to understand and administer because it eliminates the need to file tax or information returns.​

http://www.chpc.biz/history-readings/apt

The model developed by by Edgar L. Feige, Professor of Economics Emeritus at the University of Wisconsin-Madison showed that using +/- 2000 year data it would only take a micro transaction tax of less than 1/2 percent on each financial transaction by both sides of the transaction to pay for all the tax revenue needed in 2000 in the U.S.

Think about the desirability and feasibility of replacing the present system of personal and corporate income, sales, excise, capital gains, import and export duties, gift and estate taxes with a single comprehensive revenue neutral Automated Payment Transaction (APT) tax.

A new generation of Canadians should take this up as a priority because the older generations are completely stuck on this topic and beholden to the lobbying class.

#23 slam on 06.21.19 at 5:26 pm

How about flat tax on all income. Then everyone pays their fair share on what they earned.

Unfortunately, “In 2014, 27.5 million Canadian filed a tax return; 33% (9.1 million) paid no income tax; 67% (18.4 million tax filers) paid all the federal and provincial income tax.”

Might not be popular with voters who don’t pay any taxes though…

#24 Still employed in AB on 06.21.19 at 5:30 pm

Since I have dual citizenship I may move to New Zealand if the capital gains inclusion rate is (or if other taxes are increased.)

#25 Smartalox on 06.21.19 at 5:30 pm

@The end is near: my great grandafther was a ‘dollar a year’ man in WWII. In charge of buying oil from the US (before they entered the war) and shipping it to England. He made a dollar a couple of year during the war, and had a turn-key international oil buainess by the end of it. Made a fortune.

#26 Rico on 06.21.19 at 5:33 pm

No shortage of greed in the comments today.
There is no reason for doctors, dentists, and lawyers should be allowed to “employ” their entire family. Why should they pay less tax than I? Do they add more value to society? I think not.
I am willing to pay more tax than my US counterparts to live in a society with less poverty, less crime, less violence, and fewer people willing to destroy the planet for $$$.

#27 yorkville renter on 06.21.19 at 5:38 pm

wealth taxes are theft. full stop.

raise consumption taxes instead
close corporate tax loopholes first
try a flat everybody-pays-the-same tax rate of 35%

income taxes should NEVER be over 50%. NEVER.

#28 SoggyShorts on 06.21.19 at 5:38 pm

If something crazy happened and Jagmeet won on a platform of 75% cap gains would we have time to sell and realize gains, or…?

#29 IM in C on 06.21.19 at 5:40 pm

We are standing at the edge of the biggest wealth transfer event the world has every seen. ( Demographically the peak of the baby boom is now 66, with the leading edge now 72.) The amount of wealth over the next 25 years to be transferred through inheritance is unfathomable ! And it will all be tax free !! Now lets see how long it will be before the government brings in an inheritance tax.

#30 Remembrancer on 06.21.19 at 5:41 pm

#18 Bob Dog on 06.21.19 at 5:14 pm

I find it interesting Iran is the only major country left in the world with no central bank. Looks like that’s about to change soon.
—————————-
I find it uninteresting that you are wrong, just posting to correct the record… https://www.cbi.ir/default_en.aspx

#31 Yukon Elvis on 06.21.19 at 5:42 pm

I can see a trust fund tax(no more Justin). And an inheritance tax. And a gift tax. And a wealth tax. No capital gains exemption on housing. And a tax for people with big noses cuz clean air is not free. I can see it coming cuz the “have nots” now outnumber the “haves”. Democracy at work. Tax the dirty rotten stinkers.

#32 AM in MN on 06.21.19 at 5:43 pm

In BC seniors can defer their property tax until they sell their house. Seems sensible to allow this for other forms of wealth tax

#33 Dolce Vita on 06.21.19 at 5:46 pm

Sorry all and Garth, 1 last point since today’s Blog about Politics, tax the rich etc.

I (Liberal me here) could not help but be impressed with Biden standing on his record of having being able to work out compromises in Government even with avowed Segregationist Senators way back when Moby-Dick was Minnow AND not backing down either. Good for him.

I liked it that all the patina skinned Snow Flakes and Progressives had heart attacks, a good thing.

He has pretty much said, so far, he will not change much of what Trump has done economically (although I wonder about Trade).

Don’t get me wrong, I liked Trump long before he became President – pretty swashbuckling guy for his times. And now he has to balance Wall Street with Main Street, not an easy task. So, I respect him…well, until he goes Crazy Ivan on Twitter and drop kicks the entire S&P 500 with just a few words.

I think if Biden wins the Democratic nomination he will beat Trump. Same ideas, a bit more kinder, gentler, predictable and less gruff than Trump (although, he has to limit that creepy Trudeauesque huggy touchy thing).

Hopefully, he lives to the end of his 1st Term as President, he’s 76 this year (careful consideration should be given to his VP running mate, I’d say).

Basically, a slightly older Trump on Ritalin and Codeine.

Ciao.

‘Outta here.

#34 TurnerNation on 06.21.19 at 5:55 pm

#9 that’s what I’ve said the $30-35 Burger & Beer trade in Kanada is unsustainable. Rip off.

Read the latest earning out of Keg Royalties fund and SIR Corp on TSX. Sales and beverages down.

Say how much at South Side Johnny’s for the same??

#35 mitzerboyakaQueencitykidd on 06.21.19 at 5:56 pm

Wow that’s a big Cat

#36 Remembrancer on 06.21.19 at 5:56 pm

#27 SoggyShorts on 06.21.19 at 5:38 pm
If something crazy happened and Jagmeet won on a platform of 75% cap gains would we have time to sell and realize gains, or…?
—————————–
So, the answer in theory is yes, as the transfer of power and new legislation is not instantaneous, but your thought experiment would need to consider selling into a market that may be akin to sticking your arm into a wood chipper…

#37 Dolce Vita on 06.21.19 at 6:19 pm

#33 TurnerNation

Good to read someone with Street Smarts corroborating stuff I come up with (e.g., Retail Trade Sales Unadjusted from StatCan).

Thank you for that.

Honestly, thanks.

#38 Ponzius Pilatus on 06.21.19 at 6:21 pm

First, E-cars. And now plant based burgers.
Let’s all pray for Alberta.

#39 Catalyst on 06.21.19 at 6:23 pm

“Is it fair to force them to sell?”

Yes, a house is not a right; or is that only applicable to moisters?

Face it, the system is setup for returns on capital when it should be setup for return on labour. That is the whole idea of a meritocracy. If a company does well, the employees should get a bonus not the shareholder who’s dead capital in most cases contributes nothing.

#40 Ryan on 06.21.19 at 6:24 pm

Lets please start by cutting the billions in disgusting corporate welfare.

#41 Remembrancer on 06.21.19 at 6:25 pm

#33 TurnerNation on 06.21.19 at 5:55 pm
#9 that’s what I’ve said the $30-35 Burger & Beer trade in Kanada is unsustainable. Rip off.
——————————————
Very anecdotal, but among the $50 steaks in mall parking lots restaurant crowd in the GTA at least, The Keg is losing ground both in terms of quality and patronage. I’d say watch the same store sales closely if you’re in this game…

#42 Ponzius Pilatus on 06.21.19 at 6:27 pm

A German billionaire who employs 78,000 worldwide voted Green in the last EU election.
There’s a new wind blowing my friends.

#43 Re-Cowtown on 06.21.19 at 6:35 pm

Near as I can tell, the cultural shift away from celebrating success to celebrating victimhood happened in the 1970’s with the first million dollar settlement from McDonalds to someone who spilled their own coffee onto their own lap.

Since then victimhood has become it’s own industry, rivaling manufacturing, agriculture and fisheries combined through the following stages:

1. compensating actual victims to

2. identifying victims (who hadn’t realized that they were victims) and rewarding them

3. creating individual victims and rewarding them

4. Educating people into creating their own classes of victims who were not actually injured, but brainwashed into thinking they were and rewarding them (with a handsome vig to the organizer)

5. Into the latest stage, the creation of the Victim-Industrial Complex by pre-assigning each individual a victim class and demanding a reward for them (minus the skim off the top of course).

My victim class? People harmed by the Victim-Industrial Complex. Where do I sign up to get compensated?

#44 akashic record on 06.21.19 at 6:36 pm

Trump exploited the same gap, winning the presidency by offering a different solution.

#45 Millennial Realist on 06.21.19 at 6:38 pm

You bet it works, Garth!

Especially when the Paleo Boomer Diaper Wearers split their vote the way things are looking.

Love this story!!!

https://www.cbc.ca/news/canada/toronto/renata-ford-will-be-a-candidate-for-maxime-bernier-s-people-s-party-of-canada-1.5184851

Rob Ford’s widow will run for Maxime! This split is happening all across Canada. Tories will be hollowed out. We’ll have multiple Lib/NDP/Green governments for decades.

Tax fairness. Climate. We must race to make emergency changes on both. We cannot waste time.

Thankfully, Conservative idiocy is about to fragment itself and implode.

The Boomer shackles holding back humanity are about to be broken.

#46 SoggyShorts on 06.21.19 at 6:44 pm

#35 Remembrancer on 06.21.19 at 5:56 pm
#27 SoggyShorts on 06.21.19 at 5:38 pm
If something crazy happened and Jagmeet won on a platform of 75% cap gains would we have time to sell and realize gains, or…?
—————————–
So, the answer in theory is yes, as the transfer of power and new legislation is not instantaneous, but your thought experiment would need to consider selling into a market that may be akin to sticking your arm into a wood chipper…
*********************
I was wondering about that too:do only Canadians own the TSX? I mean I assume a B&D portfolio for an American/Euro might have some Canuck exposure, but how much really?
So the possibility of a crash of the TSX could be legit(in this “what if” scenario), but I don’t think the S&P500 or anything else would be greatly impacted by investors here trying to get ahead of legislation.

#47 Impeachment 2019 on 06.21.19 at 6:49 pm

#66 Smoking Man on 06.21.19 at 1:22 am
Forex, getting tired of the wife spending 2 times what I make at the tax farm. Hobby that forces me not to be day drunk.
—————
So much for being an entrepreneur.

#48 Blacksheep on 06.21.19 at 6:50 pm

Today’s blog sounds like a promotional piece on buying and holding wealth, of the radar, say in gold bullion.

No sovereign liability, no paper trail (when sold privately) always liquid.

35 pounds = one monster box = about $1,000,000 Can.

I no longer hold gold, but one can’t deny it’s true purpose as it still functions as it it did, 1000’s of years ago.

Why do people think central banks, are still buying and holding it?

‘When sold privately.’ You have described tax evasion. That is a criminal act. Shame on you. – Garth

#49 The CBC on 06.21.19 at 6:53 pm

Well they just brought out the final report by the Police on the Danforth Event. Its finally over, and looks good enough for me. Toronto’s finest did a marvellous job of explaining it all, but they still don’t have a motive.

#50 Dolce Vita on 06.21.19 at 6:54 pm

#40 Remembrancer

Turner Nation was corroborating with a Street Smart example, I think, the drop in Food and beverage stores sales from March –> April 2019:

-$287 Million

That’s a BIG chunk of change drop in spending MoM for that single NAICS category (all of April 2019 Retail Trade Sales, Unadjusted, were $50.9 billion with a MoM increase of about $2.2 billion).

March to May is when Canadians emerge from their dens and start spending and doing Summer stuff like going out eating and drinking as the weather improves (after paying off all the XMas bills in Jan. and Feb.).

Still to me, it was a surprise. To Turner Nation, street wiser than I it seems, it was to be expected.

Also and maybe, Canadians are cutting back on expensive Food items corroborating recent reports of a jump in inflation.

Wait until May & June are in I say. At least we’ll have 3 data points to begin talking about a trend. 1 point a trend does not make, still an eye catching drop in sales for a category you would have expected to go up this time of year (well, after the Jan. and Feb. cut back and pay bills off months).

#51 Dolce Vita on 06.21.19 at 6:57 pm

#44 Millennial Realist

Lay off the 420.

#52 crossbordershopper on 06.21.19 at 6:58 pm

i have always told people that if they think about it and see the demographics and the system that canada has developed you can make a case that eventually the government will take all your money , all of it.
i am not kidding, all of it, you will work for the state and the state will provide free housing, free health care etc, we can argue about pricing of services and tax rates etc but the eventual end game is the same,
you see Canada is full of poor people, millions and millions of poor people who have nothing, never really did, not educated enough or hard working enough to make real money so they will muddle around with income to pay for a generally mundane lifestyle and leverage enough that someone will allow them to borrow.
governments will simply play games, if you asked people not too long ago that we would have marginal rates above 50 on $220K cdn, or 13% sales tax etc it doesnt happen overnight, little by little over time.
so like i said you can give it to them or they will take it from you everyone has to eat in the end, its all about who is served what and how often the details are in the game. i dont understand why canadian taxes are so complicated, 37 million people, dividend tax credit, inclusion rates, who came up with this BS. the us is simple low and clean.
who has capital gain in canada stocks anyway, and even if you do, great, pay your taxes.

#53 crowdedelevatorfartz on 06.21.19 at 7:04 pm

@#44 Millenial surrealist
“The Boomer shackles holding back humanity are about to be broken….”

******
Yes, we Boomers have “shackles” on Millenials…..is that why you’re incapable of hard physical work?
Or will you only work for “Beyond Meat” aka Soylent Green….ugh.

Just curious.
When the Boomers start dropping in droves and the govt takes half or more of your inheritance…..who will you whine to then?

I can just hear it in 2030
“What’s the most expensive wine in Canada?
“My inheritance is taxed too much!”

#54 Ronaldo on 06.21.19 at 7:05 pm

#29 IM in C on 06.21.19 at 5:40 pm
We are standing at the edge of the biggest wealth transfer event the world has every seen. ( Demographically the peak of the baby boom is now 66, with the leading edge now 72.) The amount of wealth over the next 25 years to be transferred through inheritance is unfathomable ! And it will all be tax free !! Now lets see how long it will be before the government brings in an inheritance tax.
——————————————————————-
With people living much longer I suspect that for the average wealthy person most of that wealth will be absorbed by the senior living and nursing homes. Don’t hold your breath waiting for an inheritance.

As the saying goes, “If the tax man doesn’t get it, the nursing homes will”.

#55 Greg on 06.21.19 at 7:11 pm

#26 – i need to keep sole of my money. I have to compete with all the tradespeople who take cash and dont declare anything.

#56 Gary Salem on 06.21.19 at 7:11 pm

Cuban are eating rats because they don’t have enough food with rationing by their beloved, not really socialist government.

Venezuela is for sure even worse. All that different degrees of liberalism to socialism, communism, marxism leftism does is making everyone equally poorer. It is so sad that people are so dumbed down that they can’t even think for themselves. I am glad I have no children in this world at this time. Poor future generations.

#57 Andrew MacNeil on 06.21.19 at 7:13 pm

#38

I don’t agree. It’s in the best interest of companies to retain good staff. If that means higher wages, bonuses, benefits them great, they should know to do it.

I think there should be rules in place for golden parachutes and executive bonuses during times of bankruptcy or government bailout though, because often time that means taxpayer money is on the line. I also think that pensioners should be primary creditors that should be first because they also paid into a program with their own money.

Money goes back to shareholders because they assumed the initial risk. Without them, no company, no labor, no tax revenue.

“Is it fair to force them to sell”

Only under expropriation. Not because of flawed government policy or lack of real estate oversight caused values to quadruple. They did nothing wrong but buy back in 1985 or whatnot. They need to be very careful on wealth taxes. What could they go after? Any asset that is insured? Jewelry, paintings, family heirlooms? Slippery slope.

#58 Nonplused on 06.21.19 at 7:13 pm

I would say that Jag has no hope of becoming Prime Minister so not to worry, except that now that we’ve seen what happened last time in Alberta one should not rule out anything. Notely’s one off term was a freak of nature that should never have happened save for the antics of one Danielle Smith and her supporters (you know who you are big guys). So we must be vigilant.

Capital gains taxes are right at no more than 50% because there is no deduction for inflation. If you’ve got say a 4% annual increase in your capital but inflation was 2% over the same period then an adjustment is warranted. So far as I am concerned they could include capital gains at 100% but only if they are adjusted for CPI over the holding period (and compounded, since that is how inflation works). But that seems complicated. “Capital gains” are meant to tax “windfalls” but in an inflation free world where nobody collects $200 of Monopoly money every time they pass go there would be no such a thing as a “capital gain” unless you struck oil.

“Wealth taxes” are likewise preposterous and most countries that have tried them have abandoned them, for 3 reasons:

The first is that is is damn near impossible to determine what anything is worth beyond marking it to market or at the time of a transaction. How much is Bill Gates really worth? He’s worth so many shares of Microsoft times the current share price. But the share price is a notional number that goes up and down depending on a number of factors both foreseen and unforeseen. He doesn’t actually have much money. And that money he does have has already been taxed.

The second is that liquid capital is pretty mobile so the rich will simply relocate what assets they have that aren’t nailed down to more friendly regimes.

The third and most important point is that the rich generally don’t have much money. In fact most of them are deeply in debt. They aren’t Scrooge McDuck with a swimming pool full of gold coins in the basement. Instead they own a fleet of F-450 tow trucks (which is kind of funny, they tow themselves more than anybody), a parking lot and a garage. They owe financing on the trucks, financing on the parking lot, and financing on the garage. They get income from tows with which to pay the financing but first they must pay their operators and do the oil changes and put gas in the tank. All of which is already taxed several times. How do you determine if this business is worth $20 million in good times or actually negative in bad times? If it is negative do you get a “wealth tax refund” or deduction? All of this has been clearly demonstrated by the brilliant Donald Trump where before he foolishly decided to serve his country as president he ran businesses. What he said things were worth when trying to get financing was very different from what he said things were worth when paying his taxes. And you know what? Both numbers were right, because nobody knows.

All taxes, whatever foolish name is given to them, are the same, and they all get paid by the consumer. It doesn’t matter whether it is a property tax, a consumer tax like the HST or carbon taxes, income taxes, wealth taxes, royalties, road tolls, payroll taxes, CPP and EI deductions, capital gains, or sin taxes. It all appears in the price you pay for things. There is no other way to pay it. As I have stated here before, we all pay the same tax rate rich or poor. The tow truck operator pays way more in taxes than you do, but he just raises his price for the tow and passes it along. That is why to this day you can still get a discount from a single truck owner-operator if you pay cash.

It bears repeating for the slow: There is no such thing as graduated or differentiated taxes. We all pay the same tax rate, rich or poor, through the price of what we buy. Everyone pays the same tax rate. All of the commotion about the various taxes and “taxing the rich” is nothing more than propaganda designed to make you accept paying more for goods and services to provide the tax. It’s just politics.

It bears repeating even again and more simpler: We all pay the same tax rate, no matter what. It’s just hidden in price.

A further axiom could be stated this way: Taxing the rich raises prices for the poor.

There is no way out of this, and everything a politician tells you about how he/she is going to stick it to someone who isn’t you is a lie. When taxes go up, everybody pays. And money is a funny thing, so the way you should think about it is whatever percentage of GDP the government collects in taxes, is the same percentage of time you worked for the government instead of yourself. Sometimes it’s ok, we get roads and schools and hospitals, but sometimes it’s not we get lawyers arguing over whether an existing pipeline can be twinned.

#59 Remembrancer on 06.21.19 at 7:21 pm

#50 Dolce Vita on 06.21.19 at 6:54 pm

———–
Can’t tell if we are arguing something or not, regardless, comment is from taking a quick peek at their 4Q/2018 and 1Q/2019 and while not a slam dunk decline, yet, same store sales should be watched IMHO as well as some anecdotal stories that quality of service and product are slipping in the eyes of The Keg as a special occasion destination crowd… while there may be a macro economic
impacts for the whole sector, this underscores the dangers of individual company investments – may do better sometimes, but a lot of portfolio care and feeding needed too…

#60 FreeBird on 06.21.19 at 7:23 pm

Medical doctors are of no greater value. In theory all life has intrinsic value but in practical terms reality hits if (more like when) you or someone close needs emergency medical attention esp surgery to save a life or limb and the diff of a few minutes can mean quality of life or death. Admittedly my husband and I have friends who are physicians, nurses, and paramedics who thankfully would (and did) step up to help even if off duty. Just a thought.

#61 Dan Trenton on 06.21.19 at 7:23 pm

Garth, besides taxes increasing and new taxes coming in aren’t you scared that we can end up like Venezuela, Cuba, Bolivia, Argentina, Zimbabwe, etc. many more and other failed socialist, communist states.

Look at Hong Kong and China today, they sure wish they were back with the U.K. I bet all those that backed the socialist government in Venezuela sure wished they did not tax the so called rich. For the whine guy, who are you going to whine to when the money runs out. There is no free lunch in life and you will pay too as we all will. Your life will not get better but worse but socialism and socialistic policies worked in the past, yeah right this time is different.

Good luck guys and your quest to utopia that will never pan out. See you later.

#62 Sherri on 06.21.19 at 7:25 pm

HI Garth…again.. You noted above when Blacksheep referenced selling gold he should pay cap gains tax. I sold some gold Maples a few years ago at a loss to a coin shop in Vancouver. Any way to claim a cap loss? Thanks.
Sherri in Salmon Arm..

#63 Remembrancer on 06.21.19 at 7:28 pm

#54 Ronaldo on 06.21.19 at 7:05 pm
As the saying goes, “If the tax man doesn’t get it, the nursing homes will”.
——————————–
So you’re making a case for making it big in health sciences and elder care as growth sectors? That money is going to be spent somewhere even if not inherited and spent, right?

#64 Nietzsche on 06.21.19 at 7:30 pm

The strong needs protection from the weak, the fortunate from the unfortunate.

#65 Blacksheep on 06.21.19 at 7:33 pm

“Shame on you.” – Garth
———————————
Dogs, forget what I said, Garth is of course, correct.

Now I feel terrible…

#66 Flop... on 06.21.19 at 7:37 pm

Well, being Friday and all, I stopped by the liquor store.

I don’t drink on school nights, don’t hold it against me Smokie.

I saw a new beer I just had to try to toast and old friend.

Boomtown Lager.

The Boom is in the beer…

M45BC
M64WI

https://www.westcoastliquor.com/products/boomtown-lager/

#67 Craig Wright on 06.21.19 at 7:37 pm

What about a government employees and retirees tax and all social programs tax. Don’t cut them, just tax them hard. Since most of the money goes towards paying federal, provincial, municipal and their agencies plus retirees that is where the so called fat is.

This will not happen because many people have become entitled, drain on society. I know this is harsh but it is true. Once you have stolen everything from what value is left in Canada then high to hyper inflation kicks in and then you will see how they really tricked you all. At least Garth here is telling the truth but like in the movie with Jack Nicholson, you can’t handle the truth. Young and naive will be terribly devastated. They are fooling us.

#68 will on 06.21.19 at 7:37 pm

I hate stock options as a form of compensation. I always vote against it when it is proposed in the shareholder voting stuff I get in my mailbox.

Us and Them anyone?:

https://m.youtube.com/watch?v=nDbeqj-1XOo

#69 Capt. Serious on 06.21.19 at 7:40 pm

It’s a shame that the Cons can’t sort their stuff and get ride of the worst Neanderthals in the party. I’m voting with my wallet this year.

#70 Steven Rowlandson on 06.21.19 at 7:54 pm

With all due respect to the institution of government and to you Garth the following debt clocks clearly indicate that government fiscal policy and the agenda’s pursued by government is a total failure unless the objective is to bankrupt the country.

http://www.debtclock.ca/
http://www.debtclock.ca/provincial-debtclocks/ontario/

#71 Flop... on 06.21.19 at 7:58 pm

TurnerNation, fear not.

If you click on the link don’t palpitate.

The $7.49 plus tax quoted, is for a six pack, not a single.

It’s on special because it’s new apparently.

B.C, come for the expensive housing, stay for the expensive beer…

M45BC

https://www.westcoastliquor.com/products/boomtown-lager/

#72 Long-Time Lurker on 06.21.19 at 7:58 pm

Continuing on with the deception theme: History proves yet again that you can safely assume that a Communist is deceiving you at any point in time.

https://www.bbc.com/news/av/world-asia-china-48696184/faith-in-ruins-china-s-vanishing-beards-and-mosques

20 Jun 2019

Faith in ruins: China’s vanishing beards and mosques

The BBC has found new evidence of the increasing control and suppression of Islam in China’s far western region of Xinjiang – including the widespread destruction of mosques.

Authorities provided rare access to religious sites and senior Islamic officials to support their claim that their policies only target violent religious extremism, not faith itself.

But after his official tour was over, China Correspondent John Sudworth set out to investigate.

#73 Long-Time Lurker on 06.21.19 at 8:01 pm

>Here, Smokey.

https://www.washingtonexaminer.com/news/senate-lawmakers-get-classified-navy-briefing-on-ufo-sightings

Senate lawmakers get classified Navy briefing on UFO sightings

by Regina Barton

June 20, 2019 02:37 PM

Navy officials briefed three U.S. senators Wednesday on reported naval encounters with unidentified flying objects.

Democratic Sen. Mark Warner, the vice chairman of the Senate Intelligence Committee, was among those briefed. His office confirmed the briefing to POLITICO.

“If pilots at Oceana or elsewhere were reporting flight hazards that interfere with training or put them at risk, then Senator Warner wants answers,” Rachel Cohen, his spokeswoman told CNN. “It doesn’t matter if it’s weather balloons, little green men, or something else entirely — we can’t ask our pilots to put their lives at risk unnecessarily.”

Navy pilots have reported strange objects during their flights for years. In an interview with the New York Times, five airmen said that, in 2014 and 2015, they saw unusual aircraft flying at 30,000 feet over the East Coast with no visible engine or infrared exhaust plumes. Other pilots encountered aircraft that appeared to defy the laws of aerodynamics….

#74 Time for action! on 06.21.19 at 8:04 pm

It is reprehensible that the BC government is still allowing carbon based fuels to be transported through the existing Trans-Mountain pipeline, which is something like 50 years old and thus could leak. Shut it off! The BC government should do this immediately to protect their natural resources. I am personally against any petrochemicals being transported by pipeline across our great province! Shut down Trans-Mountain!

#75 Nonplused on 06.21.19 at 8:11 pm

#68 will

Stock options are a way of attracting talent while keeping salaries low, and thus investing employees in the success of the company, rather than their salary. Sure, it’s hard to say what is the right amount of options to offer, and the executives generally get way to many, but if the employees are making you richer why do you feel that they should not get richer too???

Another case of “I should get all the money”.

#76 AM in MN on 06.21.19 at 8:15 pm

All democracies eventually implode. When the 51% vote to steal the wealth of the other 49%, Venezuela here we come.

It’s only after picking through the garbage dump for food do the peasants realize that once you (through the government) steal everything from the store owner, the shelves don’t get re-stocked!

The right to vote then becomes meaningless once the bankers and bondholders take control. Talk to the Greeks about “free” health care.

Bitcoin above US$10k! I do appreciate that Garth provides a forum even for those who he disagrees with. As desperate governments tax more (registered) wealth, and Central banks inflate the fiat currency to pay the bills, I predict BTC well into the 6-figures, probably much less than 10 years from now. Zuckerberg’s move this week was bigger than most people want to contemplate…because he isn’t asking for permission!

#77 crowdedelevatorfartz on 06.21.19 at 8:26 pm

@#66 Flop.
“I saw a new beer I just had to try to toast and old friend.
Boomtown Lager.”

*****

Good one!
I will have to find that tomorrow and raise a glass to Boom.

#78 Loonie Doctor on 06.21.19 at 8:28 pm

If the government decides to raise taxes on eligible dividends (taxed more lightly personally since the company has already paid part of the tax on the income), then I am not sure what the incentive to invest in Canada beyond its market weight (<4% of the world) would be. Taxing capital gains more certainly won't encourage people to risk capital in the hopes of building more. Foreign investment in Canada has already dropped. Would they really aim to kill domestic investment too? Seems stupid to me. I guess the Government would become the main investor via tax dollars. Not really a driver of innovation from what I have seen to date…
-LD

#79 Yukon Elvis on 06.21.19 at 8:35 pm

The Canadian Taxpayers Federation presented its “Taxpayers Top Five” to a Select Standing Committee on Finance and Government Services session in Quesnel this week.
The CTF urged the provincial government to stop hiking taxes while blocking job growth.
“Job creators are struggling with the Employer Health Tax, drivers cannot afford the ICBC monopoly, and this government it still attacking pipelines that would help all of Canada,” said Kris Sims, B.C. director of the Canadian Taxpayers Federation.
“British Columbians should not be tied to the financial dumpster fire that is ICBC, they shouldn’t be forced to pay the highest carbon tax in Canada, and they should be allowed to benefit from federally approved pipelines.”
The standing committee, a panel of MLAs, is travelling around the province, hearing from groups about ways to spend taxpayers’ money in next year’s budget. The CTF was one of the lone voices urging restraint.
The CTF urged the provincial government to:

Balance the budget
Cancel the carbon tax
Eliminate the Employer Health Tax
Open ICBC up to competition
Stop blocking the Trans Mountain pipeline
B.C.’s provincial debt is currently more than $68 billion – that’s $13,738 for every resident of B.C., the CTF says.

#80 Paul on 06.21.19 at 8:43 pm

#36 Remembrancer on 06.21.19 at 5:56 pm
#27 SoggyShorts on 06.21.19 at 5:38 pm
If something crazy happened and Jagmeet won on a platform of 75% cap gains would we have time to sell and realize gains, or…?
—————————–
So, the answer in theory is yes, as the transfer of power and new legislation is not instantaneous, but your thought experiment would need to consider selling into a market that may be akin to sticking your arm into a wood chipper…
————————————————————————————————
They would predate and have it come into effect from say January 1st of the prior year!, They have all the angels.

#81 acdel on 06.21.19 at 8:45 pm

As disgusted I am about about the lefties who use to be righties until most of them had no issues using what resources out there to take them to a comfortable retirement; but now we have lefties that have no idea on how lucky they are; but my biggest issue is that you posted a fat ugly cat and now Felix will reply saying on how great that is. :)

#82 SoggyShorts on 06.21.19 at 8:47 pm

#71 Flop… on 06.21.19 at 7:58 pm
TurnerNation, fear not.

If you click on the link don’t palpitate.

The $7.49 plus tax quoted, is for a six pack, not a single.

It’s on special because it’s new apparently.

B.C, come for the expensive housing, stay for the expensive beer…

M45BC
**********************
Just over a buck a beer? How is this possible with the 10%+ inflation per year? Stan, please go tell this liquor store they’re doing it all wrong!

#83 pay your taxes on 06.21.19 at 8:49 pm

Tax the living garbage out of inherited money, like 95 percent or more. Millennials whine about “unearned wealth”, well, there’s the biggest example of it. Where would Trudeau be without his inheritance ? Not running the country (into the ground) I assure you. Maybe he would have ended up a cage fighter or finished out his career as a kindergarten teacher. How many other useless turds are out there cruising on daddy’s name and hard work? Make them earn their bread and suffer their stripes.

#84 Phil on 06.21.19 at 8:53 pm

Must be a laugh. Mention raising taxes to a bunch of rich people and watch them squirm:) I’m sure all the ‘lazy uneducated people’ don’t read this blog.

#85 ImGonnaBeSick on 06.21.19 at 8:55 pm

#45 Millennial Realist on 06.21.19 at 6:38 pm

You’re an idiot. Don’t you have a zit to pop or something?

#86 Paul on 06.21.19 at 8:57 pm

#39 Catalyst on 06.21.19 at 6:23 pm
“Is it fair to force them to sell?”

Yes, a house is not a right; or is that only applicable to moisters?

Face it, the system is setup for returns on capital when it should be setup for return on labour. That is the whole idea of a meritocracy. If a company does well, the employees should get a bonus not the shareholder who’s dead capital in most cases contributes nothing.
————————————————————————————————
You sound like someone who never bought a home ,never made a investment, never started a business.
Never had a employee.

#87 PastThePeak on 06.21.19 at 9:01 pm

#31 Yukon Elvis on 06.21.19 at 5:42 pm
I can see a trust fund tax(no more Justin). And an inheritance tax. And a gift tax. And a wealth tax. No capital gains exemption on housing. And a tax for people with big noses cuz clean air is not free.

**I can see it coming cuz the “have nots” now outnumber the “haves”. **
++++++++++++++++++++++++++++++++++

If you think the 99% only now outnumber the 1%, then math clearly is not your strong suit…

#88 TurnerNation on 06.21.19 at 9:03 pm

Just when Kanadians develop strong feelings on matters of taxation, im(migration), pipelines our elite unleash another dumb political party to muddy our minds and splinter the vote.
I swear there’s like a team of five guys at the UN totally running this country. Each day the algo program adds another layer of control.

Back to the $35 burger and beer yes any fast casual chain and new trendy place has a burger + fries at $16-$21 then add $8-10 for a “pint” then taxes and tip and you’re into two green backs.

SIR Corp owns a lot of eateries: http://www.sircorp.com/
Even humble Pizza pizza (PZA.TO) Same store sales growth is flagging. I prefer to recycle cardboard not eating it…

Starve the beast!!!! Keep your kash.

#89 PastThePeak on 06.21.19 at 9:05 pm

#38 Ponzius Pilatus on 06.21.19 at 6:21 pm
First, E-cars. And now plant based burgers.
Let’s all pray for Alberta.
++++++++++++++++++++++++++++

You and your peoplekind might succeed in destroying AB energy industry through regulation, but it will not be due to the majority buying electric cars…

#90 Re-Cowtown on 06.21.19 at 9:08 pm

#74 Time for action! on 06.21.19 at 8:04 pm
It is reprehensible that the BC government is still allowing carbon based fuels to be transported through the existing Trans-Mountain pipeline, which is something like 50 years old and thus could leak. Shut it off! The BC government should do this immediately to protect their natural resources. I am personally against any petrochemicals being transported by pipeline across our great province! Shut down Trans-Mountain!
+++++++++++++++++++++++++++++++++++

The problem with the internet is that sarcasm doesn’t come across very well. The above post shows this very well. The author actually means please don’t ban my Gore-Tex and plastic kayak. Nobody would be dumb enough to actually want a life without oil as it would be cold, dark and short.

#91 PastThePeak on 06.21.19 at 9:13 pm

#54 Ronaldo on 06.21.19 at 7:05 pm
#29 IM in C on 06.21.19 at 5:40 pm
We are standing at the edge of the biggest wealth transfer event the world has every seen. …
——————————————————————-
With people living much longer I suspect that for the average wealthy person most of that wealth will be absorbed by the senior living and nursing homes. Don’t hold your breath waiting for an inheritance.

As the saying goes, “If the tax man doesn’t get it, the nursing homes will”.
++++++++++++++++++++++++++++++++++

Well, if the kids won’t look after their parents some, then I think the parents should have no qualms about spending their money to look after themselves, no?

You can’t complain about ma & pa spending their money in a nursing home if you only go to visit once a month…

#92 Where's Ontario's Money Going Greedeau-Guido? on 06.21.19 at 9:18 pm

This is what Ontario will be dealing with once Ford and Guido Campbell get done with them:
https://thetyee.ca/News/2019/06/13/George-Abbott-Looks-Back/

#93 TurnerNation on 06.21.19 at 9:24 pm

I’ve got it. The handful of people mocking and running this country state have a board with buttons on it. Any project, infrastructure project, or person-group may be stopped or started and controlled simply by pushing a button.
The buttons are named:

Gender
Racism
Indigenous rights
Colonialism
Climate change
Maginalized
Our shared values
Immigration
Fairness
Middle class
Francophone

Did I miss any? Totally Sobar here maybe that’s the rub

#94 PastThePeak on 06.21.19 at 9:29 pm

The “West” has mistakenly believed that they won the cold war back in the 90s. Looks like it was a bit premature.

China and Russia (nee Soviet Union) are doing whatever they want and increasing their influence on the world, while the West self-destructs.

#95 acdel on 06.21.19 at 9:37 pm

Off topic; well good topic for the tin foil hatters out there. Make sure to watch the video, brilliant!

https://nationalpost.com/health/jack-dorsey-doesnt-need-a-5k-anti-radiation-tent-to-get-away-from-his-cell-phone

#96 I don't have any ... on 06.21.19 at 9:45 pm

#66 Flop… on 06.21.19 at 7:37 pm
I saw a new beer I just had to try to toast and old friend.
Boomtown Lager.
—————————————————————–

of that on hand but will raise my glass of pantydropper wine to Boom. Maybe even twice …

#97 islander on 06.21.19 at 9:47 pm

Speaking of fraud, just got hit by an online travel company for a bill of over $3,000. for a ticket that was never purchased.
Fortunately the company did actually answer the phone when I called to complain and did send an email saying the ticket was never purchased. The initial offer was a ‘bait and switch’.
Anyway after 5 hours of telephone conversations (and holding for up to an hour or more) calls to VISA, the company in question and the airline, the problem seems to have been resolved.
My advice. Track all transactions. Take screen shots of all transactions. Put a limit on your credit card. Be very careful – wouldn’t want all your hard earned dollars to go down the drain cause you’ve been scammed. And yes, even the credit card dispute workers get scammed. The guy I talked with at the major credit card company I use was recently scammed by an airbnb host.
My guys are criminals working out of Nevada.

#98 Bill Grable on 06.21.19 at 9:59 pm

Mr. Turner, Vancouver is totally bonkers! Highrises are turning this into a jumble….of 1950’s era infrastructure and 200% more vehicles., on the crumbling roads. It is a disaster – and we are not even mentioning the number of people who are getting creamed in a Real Estate Market from Saturn.
I am so confused, I am just going to follow your advice.

#99 What tax we really need on 06.21.19 at 10:14 pm

We need to eliminate the tax exemption on selling one’s primary residence. The massive increases in house prices in the past two decades have zero to do with productivity or clever entrepreneurship, it is purely due to mortgage policies by our various governments, enriching people who have done nothing to deserve that and taking away from the future prospects of our young people. Since houses have turned into a speculative asset along the way, any gains should be taxed in the same way as in stocks, binds, etc. That is, the full capital gains tax rules should apply. Frankly, this is the least that should be done, there used to be a time when many countries in Europe forbade speculation in houses. We need to find a path to return to that and instead encourage investment in productive endeavours.

#100 Sail Away on 06.21.19 at 10:16 pm

#21 Dolce Vita on 06.21.19 at 5:21 pm

“Meteo Italia habitually under reports the daily high temps. in Summer so as not to scare the living daylights out of would be tourists.”

——————————————-

So… verified fake news on the meteorological side? Would you not be concerned about other news as well?

#101 Tammy Mayer on 06.21.19 at 10:20 pm

China is in big trouble economically and debt wise don’t be fooled. Russia is too dependent on oil prices and a crash the likes of $10 U.S. per barrel almost crushed them.

#102 Yukon Elvis on 06.21.19 at 10:20 pm

#87 PastThePeak on 06.21.19 at 9:01 pm
#31 Yukon Elvis on 06.21.19 at 5:42 pm
I can see a trust fund tax(no more Justin). And an inheritance tax. And a gift tax. And a wealth tax. No capital gains exemption on housing. And a tax for people with big noses cuz clean air is not free.

**I can see it coming cuz the “have nots” now outnumber the “haves”. **
++++++++++++++++++++++++++++++++++

If you think the 99% only now outnumber the 1%, then math clearly is not your strong suit…
…………………..
Your lack of comprehension is impressive. The 39% “majority” government is gonna tax the unrepresented 61% into the great beyond. Democracy has failed and is circling the drain Einstein.

#103 Guymie Schwarzkopf on 06.21.19 at 11:00 pm

Wealth Tax is great! Once you get to 19.99 Million, spend every single cent you make per year and stay under the threshold!

#104 DON on 06.21.19 at 11:09 pm

#29 IM in C on 06.21.19 at 5:40 pm

We are standing at the edge of the biggest wealth transfer event the world has every seen. ( Demographically the peak of the baby boom is now 66, with the leading edge now 72.) The amount of wealth over the next 25 years to be transferred through inheritance is unfathomable ! And it will all be tax free !! Now lets see how long it will be before the government brings in an inheritance tax.
****************

Judging by the HELOC Mountain of debt in slowly declining market one has to wonder how much inheritance will be left over after the bills are paid. Boomers are retiring with mortgages, their parents…not so much.

#105 DON on 06.21.19 at 11:15 pm

#94 PastThePeak on 06.21.19 at 9:29 pm

The “West” has mistakenly believed that they won the cold war back in the 90s. Looks like it was a bit premature.

China and Russia (nee Soviet Union) are doing whatever they want and increasing their influence on the world, while the West self-destructs.

****************
Yup. Seem to be going to a multi-player world. Hyper sonic missiles. As other weapons become obsolete.

#106 DON on 06.21.19 at 11:20 pm

#90 Re-Cowtown on 06.21.19 at 9:08 pm

#74 Time for action! on 06.21.19 at 8:04 pm
It is reprehensible that the BC government is still allowing carbon based fuels to be transported through the existing Trans-Mountain pipeline, which is something like 50 years old and thus could leak. Shut it off! The BC government should do this immediately to protect their natural resources. I am personally against any petrochemicals being transported by pipeline across our great province! Shut down Trans-Mountain!
+++++++++++++++++++++++++++++++++++

The problem with the internet is that sarcasm doesn’t come across very well. The above post shows this very well. The author actually means please don’t ban my Gore-Tex and plastic kayak. Nobody would be dumb enough to actually want a life without oil as it would be cold, dark and short.
********************

I can’t get enough crappy plastic shit that goes brittle in the sun and needs replacing over and over and over again…

On another note: when I was younger sun screen was Tropical Oil. Remember those days…

As the world turns and Alberta’s forest burns. Another Midnight Oil song?

#107 Victor Rajkotwala on 06.21.19 at 11:25 pm

George Bernard Shaw- “A government that robs Peter to pay Paul can always depend on the support of Paul”

#108 DON on 06.21.19 at 11:38 pm

#79 Yukon Elvis on 06.21.19 at 8:35 pm

The Canadian Taxpayers Federation presented its “Taxpayers Top Five” to a Select Standing Committee on Finance and Government Services session in Quesnel this week.
The CTF urged the provincial government to stop hiking taxes while blocking job growth.
“Job creators are struggling with the Employer Health Tax, drivers cannot afford the ICBC monopoly, and this government it still attacking pipelines that would help all of Canada,” said Kris Sims, B.C. director of the Canadian Taxpayers Federation.
“British Columbians should not be tied to the financial dumpster fire that is ICBC, they shouldn’t be forced to pay the highest carbon tax in Canada, and they should be allowed to benefit from federally approved pipelines.”
The standing committee, a panel of MLAs, is travelling around the province, hearing from groups about ways to spend taxpayers’ money in next year’s budget. The CTF was one of the lone voices urging restraint.
The CTF urged the provincial government to:

Balance the budget
Cancel the carbon tax
Eliminate the Employer Health Tax
Open ICBC up to competition
Stop blocking the Trans Mountain pipeline
B.C.’s provincial debt is currently more than $68 billion – that’s $13,738 for every resident of B.C., the CTF says.
****************
Pump the breaks. Time for a Donny Brook!

I once had a job interview with the ‘Canadian Taxpayers Association’. They are an org established by big businesses and are not close to representing the non business taxpayers like you or me. Kri Sims is a former media type who takes her orders from the big business lobbyists. The whole things benefit them not the regular working stiff taxpayers. Why do people not conduct their own due diligence. FFS!

And ICBC used to be very profitable for decades until the business party gutted the profits and put them into general revenue to balance the budget. Yup a corrupt BC Liberal/Conservative Party and a docile compliant local media. Do you have any idea of the impact of corruption on a society. Look to BC. A former BC Liberal Minister (one of the only ethical ones) just completed his PHD on Public Policy and bashed Gordon Campbell for the damage he caused to BC.

That’s why I am a strategic voter to balance stupid out.

All the shit talking in the world cause nobody bothers to do a little internet googling and critical thinking.

Political Partisans are blind, gullible and well…rant over.

FFS!

#109 Kothar on 06.21.19 at 11:54 pm

Trudeau might get back in due to the Ford fiasco in Ontario. Might turn a bunch of would be fed PC voters away.

#110 S.Bby on 06.22.19 at 12:26 am

Dividends should not be taxed at all because that money is taxed at the source since the company pays tax on their income. So taxing dividends even at 50% is double taxation.

#111 meslippery on 06.22.19 at 12:31 am

Not much to take issue with in that post Garth except to say,
when we had a strong middle class with good benefits and wages you could raise taxes on the people.
Now only the people with money can pay them.

#112 S.Bby on 06.22.19 at 12:34 am

All citizens suffering equally is the goal of socialism.

#113 Russ on 06.22.19 at 1:25 am

TurnerNation on 06.21.19 at 3:58 pm

I feel the need to signal my virtue and am declaring a Climate Emergency in this comments section only.
===================================

I agree.

One foot of snow, in Alberta, on the first day of summer is something to talk about.

Where is the promise of global warmish?

Cheers, R

#114 jane24 on 06.22.19 at 1:33 am

Wealth taxes were tried in France and proved to not work. First the rich have better accountants than the govt does and there is always a loophole. Second the wealthy moved their official residences to Frankfort and London so were no longer French tax payers. Next govt cancelled wealth taxes. A global world means tax payers become tax players and can be very mobile. Except in Canada of course where for some reason people stay and just take it.

A wealth tax is by its nature a tax on wealth that has already been taxed. Double taxation on the same $ is immoral and punishes hard work rather than rewards it.

Yes Dolce Vita Italy is bloody hot right now about 38 degrees in my village but no humidity thank the Lord as we are on a mountain. Even the south coast of England where I live is set to be in the 30’s this upcoming week. Must get beer and cider in.

#115 The Great Gordonski on 06.22.19 at 2:12 am

Trudeau Liberals can’t justify tax increases on Canadians when none of the revenue stays in Canada. Trudeau is shifting tens of billions out of the country every month for third world boondoggles.

Now, the climate crazies are facing extinction and they’re fighting back. We all know by now the climate scam is about capitalism and green carpet baggers making billions from a new industry. It’s all about “Replacement”, nothing about Renewable, all BS.

https://business.financialpost.com/opinion/ross-mckitrick-apocalyptic-rhetoric-about-extreme-weather-keeps-ramping-up-but-experts-say-theres-no-emergency

Politically in Canada there is still a frenzy to reelect Trudeau who promises to keep funding the lie. We are seeing insanity incarnate coming out of the CBC. We are promised more court battles to destroy our ability to stop the Soros and Rockefeller scams. Hold on tight Canada, they are the enemy and will try to shiv you at every turn. We need that revenue to stay here to build schools and hospitals. Good idea to stuff your ears with cotton balls while keeping your wits sharp.

#116 Stan Brooks on 06.22.19 at 2:14 am

#88 TurnerNation on 06.21.19 at 9:03 pm

Back to the $35 burger and beer yes any fast casual chain and new trendy place has a burger + fries at $16-$21 then add $8-10 for a “pint” then taxes and tip and you’re into two green backs.

I thought we have no inflation. A burger with a beer at $ 35?

#117 Stan Brooks on 06.22.19 at 2:21 am

How can a worthless piece of rock that is not a store of value and imminently will depreciate against the sound and stable peso be a subject to tax is beyond me, I thought that requires capital appreciation, no?

How many of you paid taxes on the engagement ring they received or inherited from their grandma’s? It is gold or at least silver, no? Is jewelry exempt from tax? Shame.

#118 Howard on 06.22.19 at 3:24 am

#29 IM in C on 06.21.19 at 5:40 pm
We are standing at the edge of the biggest wealth transfer event the world has every seen. ( Demographically the peak of the baby boom is now 66, with the leading edge now 72.) The amount of wealth over the next 25 years to be transferred through inheritance is unfathomable ! And it will all be tax free !! Now lets see how long it will be before the government brings in an inheritance tax.

—————————————————-

Nope.

The Boomers will take out reverse mortgages, spend it all on luxury cruises and jewellery and new kitchen counters, and leave their kids with nothing. The final act for that generation before it leaves the stage.

Sorry Mills, your Boomer parents will spend it all and as a final middle finger, may even leave you with debts to pay back.

#119 moha on 06.22.19 at 3:27 am

seems like a couple needs to make a combined income of $200-300 thousand dollars to stay afloat in the GTA. It’s going to be rough for the next generation.

#120 Lobster Man on 06.22.19 at 4:12 am

The following link shows a very significant drop in April retail sales for Vancouver, as published by Statcan:
https://www150.statcan.gc.ca/n1/daily-quotidien/190621/t001a-eng.htm

A 4.4% drop for Vancouver, a figure that’s significantly worse than the rest of Canada!

This has to be because of the latest real estate situation in the Lower Mainland.

We call this the real “negative wealth effect”.

A couple of days ago, Garth mentioned some billions in property values (equities) just went puff. So here is some evidence as to how that has played out in the main street.

We should all keep an eye on whether this downtrend may continue.

The Provincial Treasury must be “pleased”.

#121 YVR2ZRH on 06.22.19 at 4:22 am

I thought I would chime in here – living in Switzerland and perhaps being one of the four developed countries with a wealth tax.

Here in Switzerland, the wealth tax is part of a system which overall does the following:
– Has a very high pension savings rate – assets here are not subject to wealth tax, contributions are tax deductible but withdrawals are taxed at 1/5 of the tax rate – or about 5%. Imagine your RRSP being deductible for contribution and not taxable on withdrawal!! Also – Imagine where your contribution room was not based on “historical earned income” but your age and current income. So here is one piece.

– The next is a system of no capital gains on any assets except for real estate. This encourages investment in diversified businesses and pushes significant capital into the market for innovation. Also encourages risk taking and encourages real saving. So there is a wealth tax but remember there is no gain. Really a much better system.

– Third – a system which ensures Real Estate – as an asset class, is used solely for the provision of shelter. There is a speculation tax (forfeiting of 100% of gains if not held for long enough), there is a rent control system with rents moving up and down based on a formula of CPI and interest rates, there is deemed rent income benefit to individuals for owned real estate such that you pay tax on the “dividend” your principal residence provides you in the form of free rent.

And – income taxes are very low – some places capping at around 25% top rate. This encourages working more – producing more.

So – Before you go mocking the wealth tax – this tax here is a piece of a completely different system which in my opinion works 10 times as good as Canada at achieving the right outcomes.

– work more – keep more
– invest more – innovate more – diversify your risk and keep 100% of the gains from your efforts.
– real estate is for living and you won’t make economic rent or unrealistic gains from owning it

#122 The Great Gordonski on 06.22.19 at 5:19 am

Tax in Ontario is already 53.5% . Add in all the indirect taxation and it explains why ex pat Canadian communities globally are growing exponentially. I found out that I could give up an entire floor and lay off 200++ people and make more money by changing my residency. If you’re sticking around it’s because you’re a dinosaur. High earning immigrants are also leaving in droves. Hussen announced that he was going to give citizenship for skills, third world under grad degrees. That’s fine, but who’s going to hire them? They can’t all work for the government. What happens when all thee supposed skills realize they can can work remote? As is the case already , as in Richmond BC, the income earner doesn’t live in Canada and the costly family earns less than a poverty income for tax purposes. One of these years Canadians will have to wake up. The country is getting hollowed out. Your big money earners are boomers, and we’re leaving, in droves, empty nest, no residency to pay tax on.

We’re on the cusp of an inevitable melt up. The market keeps going up, but only the pros buy, and the munchkins lose out. In theses times the FOMO is delayed until a dam bursts, like Trump getting reelected and then Kaboom, mass capitulation. It goes from ‘it can’t last’ to ‘ buy now or never. Seen it before. Great stocks are still reasonable compared to what they will be. It won’t be ETFs that boom, institutions don’t buy those.

#123 earthboundmisfit on 06.22.19 at 6:30 am

In some small way, you have to pity Jughead, the bespoke wearing, Rolex toting, Beemer driving, champagne socialist. The guy hasn’t got two clues to rub together. With a fourth place finish in October, he’ll be nothing more than a footnote in the country’s history.

#124 Remembrancer on 06.22.19 at 7:22 am

#116 Stan Brooks on 06.22.19 at 2:14 am
#88 TurnerNation on 06.21.19 at 9:03 pm

Back to the $35 burger and beer yes any fast casual chain and new trendy place has a burger + fries at $16-$21 then add $8-10 for a “pint” then taxes and tip and you’re into two green backs.

I thought we have no inflation. A burger with a beer at $ 35?
————————————–
Expect these are $35 “artisanal” burgers and beer – not as much a creature of inflation but of clever marketing and too much access to disposable income…

#125 Remembrancer on 06.22.19 at 7:47 am

#118 Howard on 06.22.19 at 3:24 am
The Boomers will take out reverse mortgages, spend it all on luxury cruises and jewellery and new kitchen counters, and leave their kids with nothing. The final act for that generation before it leaves the stage.

Sorry Mills, your Boomer parents will spend it all and as a final middle finger, may even leave you with debts to pay back.
—————————————–
None of what you described is taking the money out and setting it on fire. Instead, you could stop being a victim and invest in the reverse mortgage rackets, luxury cruise companies, jewelry mongers and kitchen counter reno outfits if you truly believe this will happen. If there is indeed a significant spending of wealth coming then reap it rather than cry about nothing left in the wrinklies’ wills…

#126 Headhunter on 06.22.19 at 7:49 am

$35 burger and pint indeed. Just at average diners? 100% trustory. I like 2 pints so its a $45 lunch. DO THE MATH. Cant go on for much longer. KEG is going the same way a Tim Hortons unbridled greed will be their downfall.. oops already is!

Good news is the word is out an the system just may have to collapse under its own weight.

Forget about $$$$ focus on health and family. Thats the future because as stated the gov’t will come for what you got.

#127 The Boulder on 06.22.19 at 7:51 am

Why only 50 or 75 % gains are taxed. An investor has money, and a labour has time. A labour has 2000 working hours in a year , that is his/her capital. When the labor is taxed for 100% of his share, why not the investor ?

Risk. – Garth

#128 PastThePeak on 06.22.19 at 8:50 am

#102 Yukon Elvis on 06.21.19 at 10:20 pm
#87 PastThePeak on 06.21.19 at 9:01 pm
#31 Yukon Elvis on 06.21.19 at 5:42 pm
I can see a trust fund tax(no more Justin). And an inheritance tax. And a gift tax. And a wealth tax. No capital gains exemption on housing. And a tax for people with big noses cuz clean air is not free.

**I can see it coming cuz the “have nots” now outnumber the “haves”. **
++++++++++++++++++++++++++++++++++

If you think the 99% only now outnumber the 1%, then math clearly is not your strong suit…
…………………..
Your lack of comprehension is impressive. The 39% “majority” government is gonna tax the unrepresented 61% into the great beyond. Democracy has failed and is circling the drain Einstein.
+++++++++++++++++++++++++++++++++

It’s a joke, don’t get your nickers in a knot. I think Elvis has left the building…

#129 PastThePeak on 06.22.19 at 8:59 am

#127 The Boulder on 06.22.19 at 7:51 am
Why only 50 or 75 % gains are taxed. An investor has money, and a labour has time. A labour has 2000 working hours in a year , that is his/her capital. When the labor is taxed for 100% of his share, why not the investor ?

Risk. – Garth
++++++++++++++++++++++++++++++++++

A couple of simple reasons on why capital gains are not taxed 100% as income:
1) There is currently no provision for inflation (as outlined in detail by a poster above) in capital gains calculation. If I purchase a stock for $100, and then sell it as I retire in 30 years, then much of the gain made is part of inflation. By only taxing 50%, it addresses that issue in a simple way.

2) For most investors, the assets they purchase are done with income that has already been taxed (and in Canada, quite highly). Doesn’t seem fair to me that something I purchased with after tax dollars is then taxed fully again when I sell it.

Of course most will not want to hear logic like this – they simply want to take money from anyone who has it.

#130 CHERRY BLOSSOM on 06.22.19 at 9:09 am

Sure go ahead tax the rich. They will just leave Canada. I would. The rich are the ones who create jobs. Perhaps we will all be working for the government soon. I think we have to ask why so many want the rich taxed. Cause we can’t afford to live. Why you ask Because the government takes too many taxes from us. The government makes us poor and then tells us they can fix this. NOT. Let us keep our hard-earned money. We know what to do with it and the government does not.

#131 Yuus bin Haad on 06.22.19 at 9:39 am

I’ve been able to avoid paying tax by self-identifying as a squeegee kid

#132 dharma bum on 06.22.19 at 9:48 am

#26 Rico

Re: Doctors
“Why should they pay less tax than I? Do they add more value to society? ”

Yes.

Yes they do.

Anymore stupid questions?

#133 PM Boris on 06.22.19 at 9:58 am

This is gonna be great stuff…………

https://www.dailymail.co.uk/news/article-7169539/Boris-Johnson-grilled-leadership-hustings-today-row-girlfriend-Carrie-Symonds.html

#134 dharma bum on 06.22.19 at 10:02 am

#91 Past the Peak

You can’t complain about ma & pa spending their money in a nursing home if you only go to visit once a month…
——————————————————————–

Pa’s gone.

House is sold.

Moved ma into the nursing home.

Proceeds from their house fund the nursing home fees.

Money well spent.

Hope it lasts.

In the meantime, buy:

CHARTWELL RETIREMENT RESIDENCES (TSX – CSH.UN)

They’re getting richer every day.

#135 dharma bum on 06.22.19 at 10:06 am

#127 Boulder

When the labor is taxed for 100% of his share, why not the investor ?

Risk. – Garth
——————————————————————-

Also known as balls.

Risk (aka, investors with balls) provides the opportunity for those with none to sell their labor.

#136 NoName on 06.22.19 at 10:06 am

Hole company is over rated.
https://www.mercurynews.com/2019/06/21/study-tesla-autopilot-misleading-overestimated-more-than-similar-technology/

Finally some girl made a vehicle of tesla 3. I it definitely smart, except she puts to much faith in e. must when it comes to truck part…

https://www.youtube.com/watch?v=zZbAjhMiMG8

#137 Don Thames on 06.22.19 at 10:07 am

Well said Cherry Blossom. Taxes are just legal theft. So is saying taking money from Peter to pay Paul is a solution is a joke. It is just like minimum wages at $15, $20 etc. Make it $30, $40 etc. It does not work and the left, Liberals, Greens, NDP, democrats etc. all do the same thing over and over and it never works but actually destroys societies, countries, families, Canadians and Canada as a whole.

#138 Howard on 06.22.19 at 10:32 am

#97 ImGonnaBeSick on 06.21.19 at 2:54 pm
#84 Howard on 06.21.19 at 11:21 am

Howard, you’re off your fricken rocker.. no one in Canada is eating shark fins. It is the very definition of virtue signalling. It means nothing except to the flakes that need it to mean that they did something without actually having to do anything. It’s the same as the carbon tax, same as the single use plastics ban…

We went to plastics because glass is too heavy to transport (read more fuel consumption) and because we were cutting too many trees with paper… Figure it out.

Incinerate it all like we’re doing with the garbage from the Phillipines. We’re all going to burn in 12 years anyways right?

—————————————————-

Did you read any of the articles pertaining to the shark fin ban? Canada is the largest importer of shark fins outside of Asia. Educate yourself before spouting things.

And even if Canada were a bit player in the fin trade, so what? Most people don’t abuse or neglect dogs but dog abuse is still illegal.

#139 crowdedelevatorfartz on 06.22.19 at 10:57 am

@#114 jane twofour
“Except in Canada of course where for some reason people stay and just take it….”

*****

We Canucks run less risk of having endlessly bragging pretentious neighbours….
Ciao!

How’s that Brexit thingy working out for ya?
Sold the flat in Londinium yet?

#140 Bobby on 06.22.19 at 11:51 am

Only an idiot believes that something is free. Unfortunately they seem to turn out in droves to vote for the incompetent leadership we see today here in Canada.

#141 ImGonnaBeSick on 06.22.19 at 11:56 am

#138 Howard on 06.22.19 at 10:32 am

I’m not into making anything or anyone suffer (except for myself by even responding to you I suppose) 150,000kg sounds like a big number, but, again, no one is going to Loblaws and bbq’ing some shark fin tonight. The shark fin industry is $1.2B/yr, and Canada did something like $3m of it (ie. nothing) … This is called a virtue signal. It will have no affect except that we get a participation ribbon. It’s to make dummies like you, who read one article and are now an expert, feel better about yourself.

#142 Hicksville Alberta on 06.22.19 at 12:01 pm

Turner Nation – #88

” Starve the beast !!! Keep your cash. ”

Exceptionally well said and more true every day.

That is exactly what i have been doing, and even more so each year, because if you don’t respect yourself then nobody else will.

This country ought to have grown up some by now, but how could it possibly even have a chance when in the 21st century it is still operating on a creaky ( creepy ) mid 19th century political structure with all the trimmings of the era and no real built in accountability or consequence for misdeeds , thus enabling tyrants, fools, charlatans and miscreants to enter the fray and eff things up continuously and one would think from the continuous bad outcomes of governance at literally all levels, maliciously.

Poor old Doug Ford trying to fix the horrendous fiscal and social damage done by the schoolteacher’s Liberal cabal in Ontario ( who got to walk away with no consequence ).

There is no way this country can or will survive in time as it is operating today.

Maybe we ought to call on Kwahi Leonard to help us out or maybe the whole team as many if not all of the players have lived through some horrible times growing up in their communities and have some very personal first hand accounts of what real life is like in a “modern” gamed self serving society and “democracy”.

The warship building is just starting up and the pork barrel is getting bigger and better as they just added another $ 8 billion to the pot yesterday for the same deal and that is probably just the first leg in that boondogle. A bunch of self dealing greedy guts or a bunch of incompetent turds or both.

Can hardly wait to see what the Trans Canada pipeline to Vancouver will cost when the Federal; Government gets to build that one if it ever gets built at all. By the time they are done with that, the tolls will probably end up being more than the product value.

Watch out for cockroaches in life. They come in all shapes and sizes nowadays and they just don’t come out at night anymore. They are a 24 / 7 operation now.

#143 Remembrancer on 06.22.19 at 4:15 pm

#142 Hicksville Alberta on 06.22.19 at 12:01 pm
Poor old Doug Ford trying to fix the horrendous fiscal and social damage done by the schoolteacher’s Liberal cabal in Ontario ( who got to walk away with no consequence ).
————————————
Whoa up there cow poke, poor old Doug Ford is running a higher deficit then the Liberals did in their last year of office and is fittering our tax $$ away on stationary changes, gas pump stickers, payouts for breaking contracts and other bad decisions… Promises made for fiscal responsibility and respect for the tax payer and promises not kept…

#144 Al on 06.22.19 at 10:03 pm

We’re all ears Garth if you think adding wealth taxes (capital, inheritance etc..) is not the best route to reduce the “gap”, unless you think ever increasing income inequality is not an issue to begin with. It’s not going to automagically stop increasing to the best of our knowledge. Jagmeet must be naive of he thinks ppl with that networth won’t just offshore it in response. It should be progressive, starting much lower and dont give any heads up. Also you need to know where the money is and who actually owns it before you can tax it. That is biggest problem right now. Ask Chateau Bill.

#145 Al on 06.22.19 at 10:12 pm

I read the comments expecting the ” taxes are theft” crowd to be out in full force tonight. I was not disappointed.

#146 Mr Canada on 06.23.19 at 11:41 am

DELETED

#147 Dale Silverhawk on 06.23.19 at 11:44 am

The dumbs, dumbs that voted for Liberals in Ontario have a short memory. Maybe they need another 300% to 400% increase in their electricity bills. Oh, wait, Justin Trudeau is going to do even worse with carbon taxes. What a bunch of losers Canadians are.

#148 Maxwell C on 06.23.19 at 1:10 pm

Is it fair to forced old people to sell?

If it’s fair to force young people to live in the boonies because the cost of housing has tripled…then absolutely!

#149 Chinese Dude on 06.24.19 at 3:39 pm

At the end of the day, hard-working middle class people pay the tax.

T2 himself is a trust fund kid and his finance minister is also a super rich. How could these guys “tax the rich” effectively?