T2, v2

The latest CBC poll tracker shows the Libs with a 64% chance of forming government – either a majority (36%) or a minority (28%), propped by the Dippers. So, if this is the outcome in three weeks, we should be ready. And Mr. Scheer should be ashamed.

This election has been all about spending. Giving. Largesse. Big Government’s back – a mothering omnipresent, omnipotent and omniscient mass papering over the individual financial failures of its citizenry. Can a guaranteed annual income be far off? Seems this is where Millennial voters want to land.

But the past 24 hours have unrobed the other side – taxes and debts. Let’s review, then set out an action plan for surviving T2 v2.

The spending promises are historic. More OAS for the wrinklies. More CPP for survivors. More grants for students, Less interest for them to pay. Billions to subsidize first-time house buyers. More billions for enhanced child pogey. More paid parental leave. Pharmacare coming. And $3 billion less in revenues because of a tax cut for the vaunted ‘middle class.’

This atop an existing federal budget already in the red. Actually the Trudeau Liberals have spent more than they’ve taken in from the moment of election in 2015. And now we have a tsunami of additional spending. T2’s oath in the last campaign of a ‘temporary’ deficit of $10 billion for two years was shattered. This time dear leader isn’t even promising to balance the books. Ever.

So a day ago we got data: a deficit over $27 billion next year, then $23 billion, $22 billion and $21 billion. Yes, the better part of $100 billion over the 48 months – and that’s assuming the economy hums. If a recession happens, with falling revenues and increased social spending, we‘re pooooooched. At least your kids are. Today’s debts = tomorrow’s taxes, after all. (The interest on the debt is $35 billion a year. Even at low rates. Ouch.) Deficits simply mean governments are spending money not yet received. Kinda like when you buy a boat with money you don’t have.

Speaking of which, you’d best get it now.

As profound as the new Lib deficits are forecast to be, they’re costed on a wave of new taxes Canadians can expect after October 21st. For example a ‘luxury tax’ will click in on the purchase of a boat, car, RV, airplane or other personal-use items selling for $100,000 or more. So, imagine you’re a ‘rich’ dude making $230,000 a year, in the 54% tax bracket. If you want that 40-foot $120,000 motorhome for retirement cruising it’ll now cost you 13% HST (in Ontario) plus a 10% luxury tax, for a total of $149,000 – all paid in after-tax dollars. Thus you’d have to earn $209,000 to buy something priced at $120,000.

This is but the beginning. Overspending will not just end. The floor on a luxury tax can be dropped easily once in place. A hundred grand could morph into eighty or sixty in a few budgets. And since taxes modify behaviour (more on that in a moment) there’s no guarantee the projected revenue from this kind of tax ($585 million a year) will materialize. Recall the new uber bracket imposed on people earning over $220,000 in the last campaign? It has raised about half the amount expected because – surprise, surprise – people just started taking income in other forms.

That’s the funny thing about tax. Get it right, make it fair, people pay. Go heavy, target a few, they bolt.

In addition to the luxury tax on spending – which may be avoided by leasing – the Trudeauites will also tax non-resident owners of real estate and start whacking Amazon and Google for $540 million a year. Great. Give people and companies reasons not to spend money here. That should work out well. Then there’s the almost $2 billion anticipated from squeezing corporations, making it harder for them to expense debt payments. Less money for expansion and employment, possibly. This also means the war against small business will be back on.

Anyway, see the drift here? All of the parties have engaged in vote-buying, but none so all-encompassing as the guys who’ll likely win. Spending means taxation. So – as stated – get ready.

This brings us to tax avoidance.

First, of course, buy the motorhome now. And that 911 Carrera 4 GTS. That Cessna or sport yacht. Tell your spouse you’re actually saving ten or twenty grand by not waiting. This is an example of fiscal prudence you learned from the prime minister. It’s all good, honey. Seriously.

Next, do not let a single tax shelter slide by you unutilized. The TFSA. Your kid’s RESP or RDSP. Your matched corporate DC plan. Your RRSP. Remember that the more you earn the bigger the tax break when it comes to retirement savings.

Then, income-split. If your partner and you have disparate income levels you can utilize a spousal RRSP. You can loan him/her a boodle of cash to invest and nothing will be attributed back. Split pension income. Split the CPP. Have a joint non-registered investment account. Gift your squeeze or your adult kids money to stuff into their TFSAs.

Invest in stuff that provides a tax break. Shares or funds kicking out dividends come with a dividend tax credit, for example . Be aware that 50% of all capital gains are untaxed, a huge reduction on the hit you suffer with earned income.

Be tax-smart in your family. The person with the lowest income should be the investor while the one making more buys the groceries, gas and kibble. Create a tax-deductible mortgage by borrowing against home equity to invest (prudently). Retain cash in your small business to invest at a lower tax rate – up to the Bill Morneau limit.

If any of this makes you feel like a soiled little fiscal cheat, just remember four in ten families pay no net tax. The top 1% foots about a fifth of the entire national tax bill. And the wealth gap ain’t your fault.

Now, I’m going shopping.

 

200 comments ↓

#1 Mauro on 09.30.19 at 2:29 pm

Insanity at it’s best!

#2 Flop... on 09.30.19 at 2:38 pm

Earn and burn…

M45BC

“Charted: These Giant Companies Make Millions Every Day.

In an age of “unicorn” companies, which are private companies with billion-dollar valuations, and even trillion dollar companies, it can be difficult to mentally comprehend important financial metrics due to their enormity. Worldwide corporate profits are certainly one such measure, with many companies clearing hundreds of billions of dollars annually.

70 companies around the world earn over $1 million in profits in one hour or less.

Globally, the corporate profit pool is expected to shrink to 8% in 2025 from 10% today.

In the United States, corporate profits remain below their 2014 peak.

Saudi Aramco, the world’s most profitable company, is planning an IPO in 2020 in the face of attacks on its facilities.

One way to make the enormity of annual profits more comprehensible is to instead measure daily profits, and we’ll take this strategy for our analysis. The data comes from the latest rankings of the Fortune Global 500. Our viz uses a radial stacked bar chart to compare the daily profits of the top twenty most profitable companies. A darker shade indicates a higher profit.

Top 10 Most Profitable Companies on Earth

1. Saudi Aramco: $304.04 M daily – Earns $1 M in 4.7 minutes
2. Apple: $163.1 M daily – Earns $1 M in 8.8 minutes
3. Industrial & Commercial Bank of China: $123.29 M daily – Earns $1M in 11.7 minutes
4. Samsung Electronics: $109.3 M daily – Earns $1 M in 13.2 minutes
5. China Construction Bank: $105.48 M daily – Earns $1 M in 13.7 minutes
6. JPMorgan Chase & Co.: $88.97 M daily – Earns $1 M in 16.2 minutes
7. Alphabet: $84.21 M daily – Earns $1 M in 17.1 minutes
8. Agricultural Bank of China: $83.99 M daily – Earns $1 M in 17.1 minutes
9. Bank of America Corp.: $77.12 M daily – Earns $1 M in 18.7 minutes
10. Bank of China: $74.59 M daily – Earns $1 M in 19.3 minutes

https://howmuch.net/articles/money-companies-make-per-day

#3 James on 09.30.19 at 2:43 pm

The spending promises are historic. More OAS for the wrinklies. More CPP for survivors. More grants for students, Less interest for them to pay. Billions to subsidize first-time house buyers. More billions for enhanced child pogey. More paid parental leave. Pharmacare coming. And $3 billion less in revenues because of a tax cut for the vaunted ‘middle class.’
___________________________________________
Debt, debt, debt and more debt. These simpletons that vote for Trudeau are effortlessly enticed with shiny things that they have no comprehension where the funding will come from to support them. It is creating a false economy and is an illusion. But then again they elected Mr Socks to get marijuana legalized so I surmise that this fact alone tells me what kind of individuals we are dealing with. They have already blown their minds on recreational drugs. I can hardly wait until this generation gets old and wrinkly and they are debt ridden and despondent in the dumps. When they are living off of cat food they can at least light up another blunt and drift off to I don’t give a F#ck land in their little brains.

#4 Basil Exposition on 09.30.19 at 2:46 pm

Canadian comedian Rick Mercer, in one of his finest rants, described the fundamental difference between Liberals and Conservatives. He said, “Conservatives will always stick to their principles, while the Liberals would sell their own mothers to get power.” Which is why the Liberals win more often.
The only ‘con’ in this election is the Liberal platform, but people seem to be buying it despite their dubious track record.

#5 Neo on 09.30.19 at 2:46 pm

https://apple.news/A0E1TLtGFSNO2YSaXaVsuEA

More than a third of Canadians have no retirement savings, half live paycheque to paycheque, poll finds

Are the corrupt members of parliament not concerned that Canadians will begin executing their leaders. That absolutely should be worried at this point.

#6 Jack on 09.30.19 at 2:49 pm

Guess I’m moving to USA. I’m thinking the E2 visa is the way to go. Sell our house, take the equity and have my wife buy a business in the US. This then means that I can legally work there as long as the business is in operation. Any pitfalls I’m missing besides having a contract in place that holds the purchase funds in escrow dependent on obtaining the visa?

#7 Kim Greenwich on 09.30.19 at 2:59 pm

Mugabe 2.0, Zimbabwe socialist, hyper inflation, poverty stricken cesspool is future of Canada brought to by the Liberal, Trudeau, Morneau party. I don’t think p3eople are thinking about their family’s future if they vote Liberal because any guaranteed welfare or benefits, UBI, or whatever you want to call it will be eaten up so fast with higher cost of living, inflation, daycare, gasoline prices, energy costs, food, etc. carbon taxes that they will see an actual lower standard of living.

Canadians, specially Ontario, remember McGunity, Kathleen Wynee, how did that work out for you people. You are in a worse situation with even all they free stuff. Canadians want to learn the hard way again and again.

#8 Stan Brooks on 09.30.19 at 3:00 pm

#101 Tater on 09.30.19 at 12:29 pm
Hopefully they get his meds sorted out.

Yep, Jack Daniels. It simply works.

What do you take?

https://cmha.ca/fast-facts-about-mental-illness

Mental illness indirectly affects all Canadians at some time through a family member, friend or colleague.
In any given year, 1 in 5 people in Canada will personally experience a mental health problem or illness.
Mental illness affects people of all ages, education, income levels, and cultures.
By age 40, about 50% of the population will have or have had a mental illness.
Schizophrenia affects 1% of the Canadian population.
Anxiety disorders affect 5% of the household population, causing mild to severe impairment.
Suicide accounts for 24% of all deaths among 15-24 year olds and 16% among 25-44 year olds.
Suicide is one of the leading causes of death in both men and women from adolescence to middle age.
The mortality rate due to suicide among men is four times the rate among women.

T2 about to be reelected. Speaks volume of the sanity of the people/or the lack of such.

Cheers (I won’t cal you sheeple as I have a feeling I will offend it by comparing it with you)

#9 BobC on 09.30.19 at 3:13 pm

Seriously, how long before desperation sets in and Canadians elect a non politician businessman to jerk things back to the middle?

#10 Sask to AB on 09.30.19 at 3:28 pm

Thank you Garth, for putting all the things we need to do to prepare in 4 paragraphs! Appreciate it.

F56AB

#11 Damifino on 09.30.19 at 3:28 pm

I took the time to read over the PPC’s platform. Only about 25% of it is clearly wrongheaded. The rest makes some reasonable sense to me.

In contrast, 75% of the liberal platform is about what the bulbous federal teat-of-plenty can squeeze out for the downtrodden middle class wannabe. One perk Garth neglected to mention was the insane Liberal camping subsidy. I’ll be jumping on that if worst come to worst.

But don’t worry folks, I won’t be voting for Maxime, even though Liberal Hedy Fry (Vancouver Center) has won the last eight federal elections which probably means I have a protest vote to spend if I wished.

Fact is, I long for a Prime Minister who’s dull as corn flakes. Mr. Scheer fills that bill nicely. Nor does it hurt he’s a huge fan of The Simpsons.

#12 Mikeshouse on 09.30.19 at 3:29 pm

My question. So if the liberals get in and a non resident tax is imposed… My cousin has left Alberta for greener pasture in Toronto. His home here at 3600 square feet is fully paid and he has asked me to care for it, live there for around three years at little cost to me other than the heat print ( it is geo thermal heating) and a small amount of rent. Can he be taxed as non resident if I am renting?

#13 IHCTD9 on 09.30.19 at 3:30 pm

Yeah, I guess if T2 gets in, I’ll be putting some effort into avoiding more taxes again.

I have two pellet stoves and a very old house. A bag of pellets hit 6.00/bag late last heating season, and still is this fall. They’ve never managed to make that price stick before, but it looks like it is going to this time. 6.00 was my line in the sand. Not enough savings for the work / headache involved at that price. I went through about 350 bags last year.

Last time I was in in this situation was 14 years ago when heating Oil rocketed from ~.33/l in ’01 to ~.70/l in ’05. That’s when I went with Pellets. Oil kept going all the way to 1.40/l, but I was happily heating for ~700.00/mo. via wood pellets. It was good while it lasted.

After driving down the heating highway for years, and then exiting off the beaten path in 2005 – now I am going where there is no road at all for 2020. I started working on a design for an updraft gasifier to utilize an ideal fuel I can get free from a plant in town (bark free, kiln dried pine edging strips). This is just a matter of settling on a design and building it – these updraft’s are very simple.

The goal? A cheap as dirt self built UD Gasifier, and zero cost fuel.

Zero taxes, start to finish.

#14 Oakville Rocks! on 09.30.19 at 3:41 pm

Why should Andrew Scheer be ashamed? Because he blew the election to a guy facing a corruption (SNC) and idiotic/racist (blackface) scandal? Or because he has engaged in the same sort of policy vote buying as T2?

But wait, there are 3 weeks & 3 debates still to go. Anything could happen.

Maybe Mad Max kicks both their butts during the debate (unlikely). Maybe Elizabeth May starts making sense. Maybe Jagmeet Singh challenges Trudeau to a canoe race and wins and millennials & les Quebecois swoon.

3 weeks is a long time in a campaign. There is still hope and lots more entertainment left.

By the way Garth, what are you shopping for?

#15 AGuyInVancouver on 09.30.19 at 3:42 pm

#6 Jack on 09.30.19 at 2:49 pm
Guess I’m moving to USA. I’m thinking the E2 visa is the way to go. Sell our house, take the equity and have my wife buy a business in the US. This then means that I can legally work there as long as the business is in operation. Any pitfalls I’m missing besides having a contract in place that holds the purchase funds in escrow dependent on obtaining the visa?
_ _ _
LOL, you’re so outraged about deficits you are moving to Trumpland with its $1 trillion a year deficits? Laughable, not laudable.

Given that interest rates are near negative and most other G20 countries run far larger deficits vs GDP than Canada it would be near irresponsible not to invest in people and infrastructure here through borrowing.

#16 Biofuel Stove on 09.30.19 at 3:49 pm

#13 IHCTD9 – You might do better using corn kernels that you can grow yourself if you have the land, or have the Amish nearby. It burns cleaner and longer, and could be cheaper. The Amish will make the best deals for cash, and deliver for payment too.

#17 CJ on 09.30.19 at 3:54 pm

Not sure why Mr. Scheer should be ashamed.

Canada is an extremely liberal country. So every election starts there. Throw in left-wing media that have given T2 v2 a free ride on pretty much everything (racism, sexism etc) and Conservatives don’t have much of a chance.

#18 Jeff on 09.30.19 at 3:55 pm

This election is beyond appalling.
We’re thoroughly living in clown world.

#19 IHCTD9 on 09.30.19 at 3:57 pm

I was happily heating for ~700.00/mo. via wood pellets.
—–

D’oh! Make that 700.00/ year…

Ants were more interesting. – Garth

#20 IHCTD9 on 09.30.19 at 4:06 pm

#16 Biofuel Stove on 09.30.19 at 3:49 pm
#13 IHCTD9 – You might do better using corn kernels that you can grow yourself if you have the land, or have the Amish nearby. It burns cleaner and longer, and could be cheaper. The Amish will make the best deals for cash, and deliver for payment too.
___

I’ve tried corn, cherry pits and grain. You need a bunker to keep the rodents out. I had an 80 lb bag of grain I was experimenting with and ended up with Wheat weevils in there which took out the whole sack.

Never again.

#21 jess on 09.30.19 at 4:12 pm

…”The dispute over whether or not the tax break for the two companies was illegal has been running for over 14 years and has seen five separate legal challenges.

Ireland loses €10m aluminium EU state aid tax argument

Ireland and Italy have lost a lengthy battle to overturn an EU demand for the recovery of millions of euros in taxes from two aluminium metal manufacturers, following a judgment that a tax exemption amounted to illegal state aid
=============
EU to investigate 39 multinationals over profit shifting tax deals

The European Commission has launched in-depth investigations into dozens of multinationals which had negotiated special tax deals with Belgian authorities to slash their tax bills

16 Sep 2019
Sara White

..”The investigations will assess whether ‘excess profit’ tax rulings granted by Belgium to 39 multinational companies gave those companies an unfair advantage over their competitors, in breach of EU state aid rules.

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

https://www.accountancydaily.co/ireland-loses-eu10m-aluminium-eu-state-aid-tax-argument

#22 jess on 09.30.19 at 4:26 pm

‘cum-ex’ scandal

The men who plundered Europe’: bankers on trial for defrauding €447m

Martin Shields and Nick Diable are accused of tax fraud in ‘cum-ex’ scandal worth €60bn that exposes City’s pursuit of profit

https://www.theguardian.com/business/2019/sep/20/the-men-who-plundered-europe-city-of-london-practices-on-trial-in-bonn

#23 Drill Baby Drill on 09.30.19 at 4:29 pm

If T2 wins with the ndp propping them up then there will be blood.

#24 Don Guillermo on 09.30.19 at 4:33 pm

Garth

If another Trudeau government is elected any thoughts on how this would impact the CAD/USD exchange and advice on hedging if negative?

Thanks in advance

#25 E2 Dude on 09.30.19 at 4:39 pm

Jack #6

E2 is a great system, though living in the US is not for everyone no matter how much they think it is. If you haven’t tried it for an extended period, be ready for a culture shock on a personal level.

Oh, and get a good immigration lawyer. Makes a world of difference and the fees are not only a business expense, they count towards your E2 investment also.

Speaking from personal experience, it’s a great system but not without some pretty big considerations. And if you are doing it to reduce tax, it’s a half measure. Look at Panama or Costa Rica if you want to really get a break.

#26 Shawn Allen on 09.30.19 at 4:41 pm

Barriers to Moving to the U.S.?

#6 Jack on 09.30.19 at 2:49 pm

Guess I’m moving to USA. I’m thinking the E2 visa is the way to go. Sell our house, take the equity and have my wife buy a business in the US. This then means that I can legally work there as long as the business is in operation. Any pitfalls I’m missing besides having a contract in place that holds the purchase funds in escrow dependent on obtaining the visa?

*********************************
Apparently U.S. border custom agents at land crossings are turning away a good number of Canadians and barring them from entry for five years and it is hard to appeal. The border agents have total discretion to do this. And they have been taught by Trump that foreigners are mostly not welcome especially when they take jobs.

A Vancouver lawyer apparently went from hearing about one of these 5 year bars every few years to it now being a daily event.

His advice was to never cross by land. Cross by air and where you are pre-cleared in the Canadian airport because those U.S. agents on Canadian soil do not have the ability to issue the five year bars.

Canadians have no unfettered right to enter much less move to the United States. Your plan is not without risk.

Also, everyone needs to be very respectful of the U.S. agents when crossing into the U.S.. They can find reasons to turn you away.

#27 FreeBird on 09.30.19 at 4:52 pm

Read a story about a couple who managed an agriturismo near Tuscany which had a group of wild feral cats. They were lean, healthy and helped keep the small critter population on the borgo/farm down. Couple made mistake of feeding the cats in an area away from main house to avoid daily stealing of food. Cats became dependent on regular feeding and in time demanding their free handout twice a day or raised a big loud fuss (cat style.) They also per the writer became ‘fat and lazy’ and no longer willing (or able?) to chase their own food. Who had the control? I do think sick or injured animals do need help. A funny story. Maybe a lesson in pseudo economics? I’m a dog person and they just deserve to be fed so not sure. Happy voting.

#28 The Wet One on 09.30.19 at 4:53 pm

It’s really too bad that most voters are happy to be bribed with their own money.

Sadly, until the general level of financial literacy and comprehension in the wider society is raised, I don’t think we can expect much else.

Good times, right?

#29 Ron on 09.30.19 at 4:56 pm

Today’s debts = tomorrow’s taxes

———————

Maybe.

Or maybe Modern Monetary Theory is right.

Maybe governments can borrow/spend in their sovereign
currencies without triggering inflation.

One thing I’m sure of: we will never see a major country with a balanced or surplus budget again.

#30 Brett in Calgary on 09.30.19 at 5:01 pm

The smiling picture of Trudeau makes me sick.

#31 Flop... on 09.30.19 at 5:03 pm

The Conservatives appear to be running an eerily similar campaign to the one that came up short in 2015.

Andrew Scheer seems reluctant to pull out the political boxing gloves, with horseshoes in them, and give Justin Trudeau two black eyes.

Trudeau wouldn’t mind, he likes black eyes…

M45BC

#32 J in QC on 09.30.19 at 5:05 pm

Come on Mr. Turner, taxing FAANGs is only a matter of keeping it an even playing field for local content creators.

We have been paying the Quebec Sales Tax on our Netflix, Spotify, etc. accounts since January and people are smart enough to know that these services replace others we used to pay taxes on. The feds got to wait and see if it worked, and it did.

Why would it scare anyone from investing money in Canada – consumers foot the bill – these services are fairly cheap and inelastic. Or we’re commies. Maybe.

Cheers

#33 Watcher on 09.30.19 at 5:17 pm

Never have I observed such a level of desperation from so many who have worked so hard and tried to live a quiet life as I observe now in the West.

Not only does Truedeau and his group of socialists think they’re going to teach a generation how to be enlightened progressives by their shining example of behaviour, but they are going to indenture our children and grandchildren in the process.

No Sir. This Prime Minister does not perceive clearly what is coming if he tries to continue on with what he has done for the past four years. ‘Civil Unrest’ is the nice way of saying it.

Oh for the days when a Liberal government meant a quirky yet likeable leader with Paul Martin paying down debt.

#34 Bannie Stuffeson on 09.30.19 at 5:21 pm

Garth, Does this change your thesis? More $ to USA/INTL Markets, less in Maple? Let’s hear about Asset Allocation under a Trudeautopia.

#35 MF on 09.30.19 at 5:29 pm

15 AGuyInVancouver on 09.30.19 at

Yup. Add to that the fact that the dems are far more left leaning than even our libs.

MF

#36 PastThePeak on 09.30.19 at 5:34 pm

Fuddle-duddle. Deficits don’t matter, nor does debt. Those are just made-up terms used by Conservatives to prevent the people from getting the goodies.

The good news? The Liberal deficit numbers do not include their pharmacare promises (they have to work that out more). Some economists predict that would be another $15B/year when fully implemented.

At (almost) 50, I am getting tired of working hard, paying a sh*t load in taxes, and then paying for things myself after the taxes are taken away.

I plan on getting on-board the Justin gravy train. Semi-retire early, dramatically reduce top-level income (side gigs, cash receipts, barter, TFSA withdrawals eventually), and get down to collecting some of the goodies.

#37 Remembrancer on 09.30.19 at 5:35 pm

#9 BobC on 09.30.19 at 3:13 pm
Seriously, how long before desperation sets in and Canadians elect a non politician businessman to jerk things back to the middle?
———————————————-
Got any suggestions? Worth looking at as long as he/she isn’t a 2nd / 3rd generation owner of a private family company who had it handed to them on a silver platter and never had to be responsible to a board or shareholders etc… Those are generally a disaster based on available empirical evidence…

#38 BlogDog123 on 09.30.19 at 5:37 pm

The voter doesn’t seem to care about debt. It’s some concept that pointy-headed accountants in Ottawa understand. Joe or Joanne voter wants the goodies.

So keep on rolling out those election promises, paid for with some future government to figure out. Nose jobs and drugs for all, … Here’s Mr. Sousa provincially in Ontario, listen to him dodge, BS, and talk about “investing” in people with some future government’s money, or lack thereof… didn’t work out for Wynne’s team…

https://www.tvo.org/video/2018-ontario-budget

#39 PastThePeak on 09.30.19 at 5:38 pm

As to the youth movement of the climate doom…

“I believe the children are our future. Unless we stop them now.”  – Homer J. Simpson

#40 Madcat on 09.30.19 at 5:45 pm

As much as I hate to do it I will be voting Liberal (to vote against the Conservatives) to avoid 30 year amortizations and removal of the stress test by the Cons.

#41 FreeBird on 09.30.19 at 5:46 pm

Spouse suggested this video on cleaning cat’s litter box. Maybe not for cat lovers…

https://youtu.be/USS4nqgqIJo

#42 yvr_lurker on 09.30.19 at 5:57 pm

The planned excess of giving out $$ to all sorts of special interest groups is indeed too much. I would be happy with a Gov’t that prioritized lifting our kids out of poverty (I am okay with the increase in child benefits) financed in part by going after after major companies that pay no tax to the Canadian Gov’t. How is it reasonable that Netflix pays no tax to Canada? Go after the Amazon, Google, Netflix, etc… and insist that they pay their share. Put in a non-resident tax on real estate country-wide. Prioritize local citizens first. Place iax incentives for small innovative high-tech companies to relocate to more rural areas, which will attract skilled workers out of the major cities (like what is going on in Nelson, BC). Diversifying the economy in rural areas, which have long been dominated by the resource sector, seems like a very good direction to try to prioriize.

However, it seems as though T2 is planning on giving out $$$ across the board to as many voting blocks as possible. Seems imprudent as if we hit a 2009 style recession we will be over the cliff.

#43 reynolds531 on 09.30.19 at 6:06 pm

Every time I see a teacher on Facebook complaining about Doug ford I want to tell them off.

#44 FTE on 09.30.19 at 6:11 pm

I’m not following the numbers on how much the dude pays for the motorhome. If he’s in a 54% tax bracket then isn’t he going to pay like 324k for the 149k purchase?

Average tax rate is 40% and marginal rate is 54%. – Garth

#45 earthboundmisfit on 09.30.19 at 6:15 pm

Narcissist. Dilettante. The LPC’s useful idiot.

#46 And to top it on 09.30.19 at 6:25 pm

And for sure this time they will jack up the capital gains inclusion rate! So, if you have any uncrystallized capital gains, consider crystallizing them before end of the year!

#47 MF on 09.30.19 at 6:26 pm

#38 BlogDog123 on 09.30.19 at 5:37 pm

WHY should the voter care?

Honestly.

He/She has been “encouraged” by our central banks dumb low interest rate “policy” for a decade now.

Those individuals who have done the stupid thing and gone into debt (usually for a home) have been rewarded by our system.

Everyone is calling the bluff. No one expects rates to rise very much anymore. Not governments, and not individuals.

MF

#48 Michael King on 09.30.19 at 6:29 pm

The dividend tax credit is a key element in generating my retirement income. I believe you have mentioned that the Liberals considered reducing it before the last budget. If re-elected, I’m pretty sure they will follow through. I really don’t want to vote Conservative but am leaning that way because of this concern. Mr. Turner, what do you think? Other readers?

#49 conan on 09.30.19 at 6:33 pm

‘luxury tax’ will click in on the purchase of a boat, car, RV, airplane or other personal-use items selling for $100,000 or more.- Garth

Where is my tiny violin? I am voting Liberal.

Be glad you are not one of the unrich people who sell this stuff. Consequences. – Garth

#50 Just finished ... on 09.30.19 at 6:39 pm

shooting my year’s supply of meat. Real meat too. Next year my license will cost me $5.00 as I will be a “senior.” Still a few good deals around. Albeit I am a dinosaur …

#51 Bytor the Snow Dog on 09.30.19 at 6:43 pm

#103 IHCTD9 on 09.30.19 at 1:18 pm sez:

“All this back and forth over Climate Change is a waste of time.

Let’s see a show of hands for whose willing to return to an early 1800’s agrarian society? I don’t see too many hands. That’s what it’s going to take to actually REVERSE C02 levels.

Cessation of all fossil fuel use would decimate world food production. Based on what non mechanized agriculture was able to produce prior to GMO’s and (petro based) chemicals like fertilizers and insecticides, we’d be able to feed about 1-2 billion people – that’s it.

The simple fact is, BILLIONS and BILLIONS of peoples’ lives depend on mass consumption of energy, if the energy disappeared, they would die of thirst, starvation, and disease – just like they regularly did not that long ago.

No Politician will have a hand in going back there – not even a little bit, so you can say hello to increased annual C02 levels – 100% guaranteed.

The only answer is a workable alternative to our current energy supply. Artificial photosynthesis, Nuclear fusion, 50%+ efficiency Solar, or something else that can put out the power needed to keep us all alive. You’d better believe it is as simple as that. Turn off the pumps, and unplug the grid = Billions dead.

Bottom line is we CAN’T stop burning fuels, and that should be obvious by now. Realistically achievable cut backs on C02 emissions will not have a measurable effect. I haven’t even talked about the developing world and how they’re not going to play ball either.

It’s pretty clear to me that we have one singular plausible hope of reducing C02 output – and that is a revolutionary new, mega dense, clean power source.”
——————————————————————-

But, but, but Gretchen Thornbery says we can run the world on sunshine, windmills, fairy dust, and unicorn farts. And we can keep our cell phones and EVERYTHING!

#52 crowdedelevatorfartz on 09.30.19 at 6:43 pm

Alas the Boomer days of finance minister Paul Martin’s balanced budgets and the paying down of the National Debt are far far far behind us ( anyone remember the “Debt Clock”).

Prepare for the ballooning National Debt Millenials…..or be run over by it….. :)

#53 Boom on 09.30.19 at 6:44 pm

Gotta pay for all that CPP garth is telling everyone to take early.

#54 LP on 09.30.19 at 6:45 pm

#20

I bet the air sure smells nice when driving past your house on a clear winter’s night.

#55 acdel on 09.30.19 at 6:51 pm

Well, us older folks with half a brain would never elect another so called liberal/extreme socialist plus greens, NDP; if today’s kids want to re-elect probably the worst P.M. I have ever encountered then so be it; let them pay and I mean generations to come to sustain somewhat of what we have now. It it pure lunacy and the sad part is they will not realize it until it is too late.

The sad part of this article; sure world prices are just that but so many placed so many obstacles in the way that it created a made in Canada recession. Just so many naive people out there.

https://www.cbc.ca/news/canada/calgary/alberta-trevor-tombe-recession-analysis-1.5299896

#56 Whits1 on 09.30.19 at 6:53 pm

Global news has the conservatives at 35% and the liberals at 33%

#57 Sold Out on 09.30.19 at 6:56 pm

Re: the luxury tax on planes, trains, and luxury automobiles

Welp, I guess the creme de la creme will have to follow the wisdom of the hoi polloi, and only buy used.

#58 PeterfromCalgary on 09.30.19 at 6:56 pm

Distracting voters from SNC-Lavalin, Mark Norman, India fiasco, Aga Khan paid vacation, and blackface ain’t cheap.

#59 conan on 09.30.19 at 7:03 pm

Be glad you are not one of the unrich people who sell this stuff. Consequences. – Garth

Does it apply to both new and used?

Personally, I don’t think this tax would stop me from buying a product, or service, that society thought was a status symbol.

It may even end up reducing the price of such products that are listed at or near 100 k.

I do not know any RV salesman or people in the business. I can see these people not liking it at all.

#60 ElGatonerodeYVR on 09.30.19 at 7:04 pm

The challenge the CPC has is that they do not have a clear platform and still have not reneged on the Harper “promises ” such as increasing CPP age , cutting federal programs for the needy and whatever other perceived hardcore right agenda irked people in the last election. They are an unknown on a void which leaves us the voters to speculate as to the worst options they will choose. What is disappointingly missing from all parties is a 5,10,20,50 years Vision. If only Mr. Sheer will present a Canada 2050 vision and the path there then maybe we would vote for something instead of against it.

#61 S.Bby on 09.30.19 at 7:05 pm

Didn’t Trudy say that “the budget will balance itself” ?

I knew we were in trouble back when I heard that.

#62 ShawnG in TO on 09.30.19 at 7:05 pm

so Mr T, are you sure you dont wanna be a politician again? they are literally buying our votes with our own money. and the more of our money they spend, the more likely to win? wow!
at this point i wanna go into politics, and i dont even like people.

seriously, in a democracy people deserve what they get. and at this point, many working professionals are looking for an exit plan. just not as loudly as the celebrities in 2016.

#63 Rakiki on 09.30.19 at 7:09 pm

The plan has always been to retire early and live on moderate income in order to avoid being bled dry by taxes. TFSA income, lots of tax-advantaged dividends, gradual capital withdrawals, deferred pensions. There is no doubt that the tax load will grow heavier. That plan will make even more sense in the coming years. The next generation will be poorer for sure.

#64 Flop... on 09.30.19 at 7:13 pm

With so many Canadians living financially above their means, Ive been experimenting with budget food options in case all hell breaks loose.

Forget Beyond Meat.

I’ve been sweeping up the sawdust at work, rolling it into a ball, sticking it between two pieces of bread and slathering it with barbecue sauce and chowing down on it.

It’s a bit rough, but beggars can’t be choosers.

But what will I call it if I get to franchise it?

Beyond Reach Burger…

M45BC

#65 Ace Goodheart on 09.30.19 at 7:16 pm

“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”

Sir Winston Churchill

#66 go max go on 09.30.19 at 7:19 pm

@#7 Kim Greenwich on 09.30.19 at 2:59 pm
Mugabe 2.0, Zimbabwe socialist, hyper inflation, poverty stricken cesspool is future of Canada brought to by the Liberal, Trudeau, Morneau party. I don’t think p3eople are thinking about their family’s future if they vote Liberal because any guaranteed welfare or benefits, UBI, or whatever you want to call it will be eaten up so fast with higher cost of living, inflation, daycare, gasoline prices, energy costs, food, etc. carbon taxes that they will see an actual lower standard of living.

Canadians, specially Ontario, remember McGunity, Kathleen Wynee, how did that work out for you people. You are in a worse situation with even all they free stuff. Canadians want to learn the hard way again and again.
_______________________________________

sadly for us, ford is out spending the previous regime.

#67 Grunt on 09.30.19 at 7:21 pm

Garth admit it. The kids better looking and you’re besieged with jealousy…

#68 Homeless in BC on 09.30.19 at 7:23 pm

If you go to Craigslist Fraser Valley in the Barter section you will find some clown who is trying to sell 4 votes for the upcoming election. search “votes October 21 election”
It is illegal to “sell” your vote and I expect Elections Canada will be contacting this guy. Maybe the blog dogs will beat them to it.

#69 john m on 09.30.19 at 7:25 pm

A bidding war is going on by leaders of all parties not just the libs (with our money in a frantic attempt to be chosen and get the keys to the vault)….wow-frightening!

#70 Lee on 09.30.19 at 7:28 pm

My sense is people are softening their criticisms of JT. He either has really good political people behind him or people are increasingly cozying up to the freebies. In any event, it’s largely over. Each region of Canada is heavily aligned to one side or the other. I think that usually means very few swing ridings out there. That’s my sense when I look at the riding specific polling as well.

#71 Trojan House on 09.30.19 at 7:29 pm

I’m surprised he stopped where he did! Why not include free housing for everyone? Should have thrown basic personal income for everyone – and make it $50,000 per year. And why stop at camping? May as well make it European vacations as well. Oh, hell, thrown in luxury cars while you’re at it.

I’m thinking that Trudeau knows the world is going to end in 12 years because of all this climate change so you may as well spend, spend, spend till then as it won’t matter one bit.

#72 Jampackedmetrosneeze on 09.30.19 at 7:29 pm

#46 “And for sure this time they will jack up the capital gains inclusion rate! So, if you have any uncrystallized capital gains, consider crystallizing them before end of the year!”

Why would you say that? I see nothing in the Liberal’s platform that suggest they would raise capital gains taxes, in fact they even denied they would do that for profits on selling your own home. Also, in the past 4 years they have left the capital gains tax rate untouched.

– Pepin

#73 BlogDog123 on 09.30.19 at 7:32 pm

#51
But, but, but Gretchen Thornbery says we can run the world on sunshine, windmills, fairy dust, and unicorn farts. And we can keep our cell phones and EVERYTHING!
==

LOL!
No, the Unicorns emit too much CO2. Their plant-based equivalent please…

#74 MF on 09.30.19 at 7:32 pm

#52 crowdedelevatorfartz on 09.30.19 at 6:43 pm

Who was the responsible for the joke that was 2008?

Hint: it was not the millennials.

I’m all ears fartz.

MF

#75 IHCTD9 on 09.30.19 at 7:37 pm

#19 IHCTD9 on 09.30.19 at 3:57 pm
I was happily heating for ~700.00/mo. via wood pellets.
—–

D’oh! Make that 700.00/ year…

Ants were more interesting. – Garth

——-

You should love this plan Garth. No taxes paid on the heating unit, and zero cost fuel.

Plus, this wood just goes into a landfill if I don’t take it, so at least I am putting it to good use. Gasifiers burn smoke free, and updrafts produce near unmeasurable particulates. Wood fuel is carbon neutral unlike fuels taken from sequestered carbon sources (ie. any fossil fuel taken from under ground). In fact, if I take the spent ash and char and bury it in the garden, it’s carbon NEGATIVE.

It’s a win all around IMHO.

#76 The Smile on 09.30.19 at 7:38 pm

#30 Brett – Some smiles can indeed tell a story, and must be a genetic reaction of getting away with something on the voters.

#77 And top top it on 09.30.19 at 7:40 pm

#71, Pepin “jampackedmetrosneeze”: don’t forget that Morneau was at the verge several times to raise the capital gains tax inclusion rate. Or, more accurately, there was quite a lot of commotion around this several times, including here on this blog. One particularly nasty aspect of a raise of thr capital gains tax inclusion rate is that it would likely apply retroactively as per the start of the calendar year. So realistically we are looking at January 1, 2020. I for sure will make sure to sell all of my investments before end of this year that have gained in value; if you keep them, the odds are that you will have to refrain for whole four years to avoid paying the insanely high inclusion rate that I suspect awaits us. So, be warned and take your chances.

#78 acdel on 09.30.19 at 7:41 pm

Off topic:
I am not one against vaccines; they have saved millions from horrible outcomes; but never cared much for the flu shot; tried it twice and each time it made me incredibly sick; just does not agree with me. I am more inclined to believe that these so called flu shots are causing or creating a super flu through these little bugs evolving to something we cannot even imagine. To each there own, could care less either way, just knowing I am not getting jabbed and will let my body figure it out.

Anyways, the latest forecast on the effectiveness of the latest jab.

https://www.dailymail.co.uk/health/article-7520845/This-years-flu-shot-likely-ineffective-UK-Canada-expert-warns.html

#79 Nonplused on 09.30.19 at 7:45 pm

Just more evidence that politicians do not understand economics, but they do understand how to pander to voters.

Fiddling with tax rates and adding new taxes here and there does not increase the net revenue to the government. Nor does it substantially aid low income earners. This is because the price of goods and services has to reflect the cost of all inputs, including taxes. So when you pay your furnace guy $189 to come check out why the darn thing won’t heat, most of that is tax. The furnace guy’s salary is taxed, the company he works for is taxed, the fuel for the van is taxed, it’s all taxed. It doesn’t matter that you only make $15/hour, you still pay $189 for an emergency visit from the furnace guy. And that is just for him to show up.

Raising the tax on a $120,000 motor home sounds good to most people because they don’t buy $120,000 motor homes. But the people who do buy them, let’s say like the guy who owns the furnace company, will still want them. So the charge for an emergency visit goes from $189 to $210. You still pay it. All of it. And then you pay HST on it too. Even at $15 an hour.

Calling something a “luxury tax” is just optics. The “invisible hand” ensures that we all get very nearly what we are worth in the market, after tax. It just jacks up the rates expensive people will charge for their services. And you can’t do anything about it, because the reason they are so expensive in the first place is because they have rare and in demand skills. So you pay the tax, not them.

Some will say, “but your theory of market dynamics means they can’t raise their prices due to competition!” Competition from whom? Is there going to be a new rush of doctors graduating into the field because they now have a higher tax rate? No, I think the trend goes the other way until supply and demand puts their rates right back where they were after tax, so at higher prices. Only with less availability because there are fewer doctors. Whatever you tax, you get less of.

So now let’s get back to that new RV or boat, and the luxury tax. What are the other affects of this new tax other than to raise the hourly rate the furnace guy charges because his boss needs more money? Well, holding all other variables constant, in theory demand for luxury items will drop because the rich have to ration their resources to pay the new tax. (Yes, the rich only have a finite amount of money and must ration it just like we all do.) There will be less RV’s and boats sold. That is what econ 101 teaches us.

But who makes those boats and RV’s? Who actually has employment in the factories putting them together? It’s not the rich, I can assure you. It’s the 99%. As the demand for luxury items falls, some of those workers are going to lose their jobs. That’s worse than a tax hike.

A $120,000 RV may seem like an unnecessary luxury to you. But to the people who build them, it is their livelihood. Luxury is just the way the rich transfer their wealth to the poor voluntarily.

When I drive through the richer parts of town and see the huge McMansions I think to myself, “Who needs a house like that? I bet they have rooms they have never been in!” Well, you know who needs those houses? Carpenters. Plumbers. The furnace guy. The 99%. That’s who. Oh and the city too because they charge more for property taxes. And the school system, which also relies on property taxes. So your kids need those McMansions as much as anybody, even if they will never live in one. If those McMansions weren’t there, you would pay more in property taxes. The money has to come from somewhere.

No matter how convoluted they make the tax code, there is only one effective tax rate, and we all pay it the same, it is just hidden in price for most of us. If you raise the tax on the 7-11, Slurpees just cost more. It’s as simple as that.

The first rule of economics is that there is no such thing as a free lunch. The first rule of politics is to ignore any and all rules of economics.

——————-

I am not yet done eviscerating our idiot politicians that no nothing of economics.

One other economic fact (there aren’t very many facts in economics, but there are 2), is that what you tax you will get less of, and what you subsidize you will get more of. This is the whole theory behind punitive tobacco and alcohol taxes, and also the driving theory behind electric car subsidies.

So who do we tax in Canada? Primarily the most educated, skilled, productive, and innovative people. People who have rare skills like dentists and doctors. What does economics therefore teach us? We have less production and innovation than we could. Less dentists. We penalize education, skill, production and innovation. Heavily.

What do we subsidize? Unemployment. Babies. Electric (coal burning) cars. Other such useless endeavors. So what do we get more of than we should otherwise have? You guessed it.

——————

The real problem with an unconstrained democracy is that sooner or later the voters realize they can vote money out of their neighbor’s pocket and into their own. Remember, we are optimized by evolution to be as lazy as possible to minimize food requirements. Every animal is. That is why we sleep at night when food is too hard to find (for an animal, I can find my fridge.) So we are hard wired by evolution to vote for anything that reduces the amount of work we need to do. But unfortunately it is only work that produces wealth. So as we subsidize not working we increasingly reduce our wealth as a nation. That is the real reason budgets can’t be balanced. The population would rather not work, and the politicians are pandering to them. But unfortunately work = wealth. So we are actually voting ourselves down the path to poverty. And it will come eventually.

——————-

I am very sad to lose good neighbors. Barbie and Turdeau’s attacks on the Alberta economy and the outrageous taxes leveled by our governments have forced this individual to move to the Cayman islands and work in the US. Guess what folks? One less 1%er paying 54% taxes. Do you know how the government will react to this loss of cash flow? More deficits, and higher taxes on the rest of us.

“If you don’t like it, leave.” Well, they did. I wish them well.

But on the other hand I have some idea what his finances looked like. My tax rate will have to go to 2500% if I alone were asked to compensate for the removal of this individual from the Canadian economy.

Of course I can’t pay 2500%. So instead the tax increases will be spread all around and the price of Slurpees is going up.

Galt’s Gulch is coming. But it will not be located in Canada. After the snow this weekend, I’m wondering why I don’t move to the Caymans myself.

#80 yorkville renter on 09.30.19 at 7:46 pm

#35 – if you think the Dems are left of the Libs, then you’re not paying attention… If anything, our Cons are like the Dems… Don’t let ‘the squad’ fool you into thinking the majority of Dems are lefty

#81 armpit on 09.30.19 at 7:51 pm

In my mid 20’s to 40’s, I worked as many hours I could, to pay down my debt (mortgage). Each year, it slowly got manageable and then a large bump on the road. I had to regroup, cut my losses and start again.

I vowed to never repeat that again.

Going forward, I worked smarter and paid down the new debt (mortgage/responsibilities).

Finally got it paid…and free of any debt.

Then Trudeau came… Now I worry more about the government debt….

At least to be shared equally… NOT SO, says the 40% who don’t pay taxes…which is what Trudeau only needs to get a majority.

Any converted Non Libs out there….tell your friends to NOT VOTE for a Government that is spending more than they get!

#82 Three hurrays for taxing bubble gains on 09.30.19 at 7:54 pm

#72 Jampackedmetrosneeze, I am not sure what is worse, someone sneezing when you are in a jam-packed metro or someone farting when you are in a crowded elevator. But I am inclined to agree with To Top It All. In fact, all those folks with mega capital gains have for the largest part gotten these gains without creating anything of value, they merely rode along on the “everything bubble”. It is high time that capital gains are fully taxed, just like the income of ordinary wage slaves. Why should I work my butt off and pay full tax rate on my income, when some dude who without doing anything saw the value of his home or stocks increase only pay tax over half of that???

Because they bought with after-tax dollars and took a risk. – Garth

#83 IHCTD9 on 09.30.19 at 8:09 pm

#54 LP on 09.30.19 at 6:45 pm
#20

I bet the air sure smells nice when driving past your house on a clear winter’s night
———-

Smells like burning pine.

A lot better than that greenish brown haze in the GTA…

#84 PastThePeak on 09.30.19 at 8:19 pm

#40 Madcat on 09.30.19 at 5:45 pm
As much as I hate to do it I will be voting Liberal (to vote against the Conservatives) to avoid 30 year amortizations and removal of the stress test by the Cons.
++++++++++++++++++++++++++++++++++++++++++

BS. You would be voting Liberal in any case.

You are one of those who want to say “don’t blame me, or the Liberals, for the Liberals being in power – blame the Conservatives…”

Own up to your actions.

#85 BS on 09.30.19 at 8:31 pm

“And Mr. Scheer should be ashamed.”

Although better than Mr. Socks, Mr. Scheer was a dud from day one. He is Trudeau light. Same dumb policies just not as woke. Lets get Mad Max in there as leader.

#86 Shawn Allen on 09.30.19 at 8:36 pm

Actual History of marginal Tax rates

Few facts are as well accepted as the fact that marginal income tax rates have only ever gone up over time in Cananda.

But what is the actual history over say the past 40 years? Have marginal tax rates actually always gone up and never a decreased? I know the brackets have been indexed to inflation for decades but other than that what has been the actual moves up or down? We had Trudeau’s recent adjustments – and what about before that?

In Alberta, the provincial marginal tax rates went down (probably a lot) for middle and higher income earners when Klein brought in the flat tax way back (must be 25 years ago or more?)

I am pretty sure that the marginal combined federal provincial income tax on say a typical teacher or principal type salary is lower today in Alberta than before Klein.

But you will seldom hear anyone say or admit that fact. It does not fit with the narrative.

Think of us Albertans that contributed to RRSPs at the old higher marginal tax rates. It would not be easy to get into a higher tax bracket in retirement given indexing of brackets and given the flat tax. We win.

#87 SoggyShorts on 09.30.19 at 8:37 pm

#82 Three hurrays for taxing bubble gains on 09.30.19 at 7:54 pm

Does your boss ever randomly just take half of your after tax paycheck? There’s no risk in collecting a wage so it’s not the same thing as cap gains on investments.

#88 marcus on 09.30.19 at 8:42 pm

Trudeau set to win. congratulations Canada you are now officially a racist nation. Never again shall you be able to lift your nose at your southern cousins. You reap what you sow. Enjoy the next 25 years ….. they are going to be a game changer.

#89 leebow on 09.30.19 at 8:47 pm

#82 Three hurrays for taxing bubble gains

Not sure what you are so happy about. You won’t see that tax. Read again, taxes modify behaviour. Did somebody prevent you from “riding the everything bubble”? Or did you sit in cash because “market is a casino”? Did you consider that “folks with mega capital gains” had to work hard to accumulate the capital? Could it be that they worked both harder AND smarter than you?

#90 Unimportant tax payer on 09.30.19 at 8:51 pm

Why do crooks always look and sound good?

#91 Sail Away on 09.30.19 at 9:00 pm

#19 IHCTD9 on 09.30.19 at 3:57 pm
I was happily heating for ~700.00/mo. via wood pellets.

Ants were more interesting. – Garth

————————————

Ants are interesting in many ways but boring politically. We might all be happier as ants.

#92 #82 Three hurrays for taxing bubble gains on 09.30.19 at 9:05 pm

“Why should I work my butt off and pay full tax rate on my income, when some dude who without doing anything saw the value of his home or stocks increase only pay tax over half of that???”
– “Because they bought with after-tax dollars and took a risk.” – Garth
– “Did you consider that “folks with mega capital gains” had to work hard to accumulate the capital? Could it be that they worked both harder AND smarter than you?” – Leebow

Garth, Leebow: the only exception AFAIAC are folks who have made their gains from productive business efforts, such as entrepreneurs. But why on earth should landlords and stock/bond investors, who do not produce anything valuable and have only achieved their gains through Canada’s monetary policy, pay only half in taxes? Get off your high horses!

#93 To top it all on 09.30.19 at 9:09 pm

#82 Leebow, explain to me how people who got major investment gains or home value appreciation work hard to deserve those gains? Three Hurrays was not talking about entrepreneurs and small business owners. Do you really think those speculative gains in real estate and stock investments are due to you having worked harder and smarter than some dude who generates a salary?

#94 Calgary retiree on 09.30.19 at 9:11 pm

Don’t dismiss the Con’s for giving away your hard earned $$.
They’ll increase the age credit by $1000. More importantly, they plan to decrease the lowest tax bracket rate.
By income splitting I can make $90k/a and still be in the lowest tax rate.

https://www.conservative.ca/andrew-scheer-will-give-more-support-to-seniors/

#95 Remembrancer on 09.30.19 at 9:12 pm

#82 Three hurrays for taxing bubble gains on 09.30.19 at 7:54 pm high time that capital gains are fully taxed, just like the income of ordinary wage slaves. Why should I work my butt off and pay full tax rate on my income, when some dude who without doing anything saw the value of his home or stocks increase only pay tax over half of that???
————————————-
Well I work my butt off and pay full tax rate on my income and make the choice to take the risk and put some of that AFTER TAX income into investing instead of renting or owning a bigger house, more expensive car or lattes, smokes, vapes, craft beer or Doug Ford’s crappy buck-a-beer. Where, if successful, I’ll pay back roughly 25% of the gain w/o whining about how unfair that is…

Sure you can self-style yourself as a “wage slave” and play the politics of envy but is that really helping yourself?

#96 Three Hurrays For Taxing Bubble Gains on 09.30.19 at 9:16 pm

#87 SoggyShorts: “There’s no risk in collecting a wage so it’s not the same thing as cap gains on investments.”

If that were true, I might agree with you. But in the past 10 years central banks have interpreted their dual mandate in effect as preventing the stock markets from falling. That is plain socialism-for-the-rich. As we now see with all federal candidates, they have been and want to continue to do the same for home values. So how are you incurring risk in such an environment? If capitalism would truly have reigned, none of these asset bubbles would have continued for as long and excessive as they have. It is a crying shame, and high time for a revolt against these asset bubble blowing policies – they are at the expense of the common working man, who does not have the means to speculate. All this insane speculation in non-productive assets is detrimental to our society’s economic health.

#97 Tim on 09.30.19 at 9:18 pm

Taxes are the price of getting to live in a civilized, humane society and I have no problem paying them.

I also expect that at some point (fairly soon, I hope), the non-oil producing regions of Canada are going to need to transfer an enormous amount of money to Alberta, southern Saskatchewan and north-east B.C. to compensate these areas for leaving hydrocarbons in the ground and to pay for retraining and buyouts for those working in the oil industry. That will be both necessary and fair, but it will be a painful experience for the country.

#98 Samantha on 09.30.19 at 9:26 pm

I cannot believe #89, leebow. What a bunch of crock, “folks with mega capital gains … worked both harder AND smarter than you”. You believe you are entitled to your low taxes on your investment gains because you worked harder than the single mom of three who works all day long to sustain her family and has no money left to invest? Wow, I am flabbergasted.

#99 Remembrancer on 09.30.19 at 9:26 pm

#91 Sail Away on 09.30.19 at 9:00 pm
————————————
Ants are interesting in many ways but boring politically. We might all be happier as ants.
—————————————————
Hmm, I wonder if many of the regular blog dogs here would thrive in a hereditary matriarchal aristocracy though…

#100 Nonplused on 09.30.19 at 9:28 pm

#92 #82 Three hurrays for taxing bubble gains

The reason your argument fails all rationality is because money isn’t real. When your house goes from $100,000 to $1,000,000 it is still only one house, and if you sell it and buy another you have gained zero additional houses. All that happened was the money became worthless.

Taxing capital gains on productive enterprises might make some sense. For example Microsoft went from zero to billions because they built a productive and profitable company. But a house is just a house. There was no gain on the house, just a loss of value of the money used to exchange it for another house.

There are some differences from my simple example, for example an intercity house might rise in value faster than the currency is collapsing due to location. But not more than the neighbor’s house, so if you and your neighbor want to trade houses there is no gain. It’s still one house.

Taxing currency depreciation is perhaps the worst of all taxes. That is for the most part what capital gains taxes are. They are taxing inflation. And inflation is entirely the result of printing too much money. So they print too much money, and then you want them to take half your house? You sound like a guy that does not have a house to me.

#101 Yuus bin Haad on 09.30.19 at 9:29 pm

No harm in voting with your heart this time around.

#102 Spectacle ( the Shame) on 09.30.19 at 9:33 pm

Re:: #48 Michael King on 09.30.19 at 6:29 pm
The dividend tax credit is a key element in generating my retirement income. I believe you have mentioned that the Liberals considered reducing it before the last budget. If re-elected, I’m pretty sure they will follow through. I really don’t want to vote Conservative but am leaning that way because of this concern. Mr. Turner, what do you think? Other readers?
—————— Why ? ——
Why would any Canadian with an ability to understand the decrepitude, destruction, lying , female assaulting, racist, entitled ( self admission…) , narcisistice , family empoverishing policy maker, business hating, criminal? Intentioned ( lava involvement) even think of voting T2 sock boy- racist face painting international Buffon back in?

For starters.

So much more you can do for Canada, and your portfolio.
Why not call Mr Turner to set you up? Best investment You will ever make and pay for!

#103 Nonplused on 09.30.19 at 9:34 pm

#86 Shawn Allen

The only part of the tax code that was indexed to inflation is the personal exemption (i.e. the amount you didn’t have to pay tax on). It, like CPP, is occasionally adjusted, but only a day late and a dollar short. The other step points are supposed to be adjusted but I think that’s only happened once and advertised as a tax cut.

#104 Millennial Realist on 09.30.19 at 9:55 pm

Scheer should be ashamed.

Fraudulently presenting himself as an experienced insurance broker tells everyone with a brain that he cannot be trusted and has no integrity even in basic matters like his resume.

Like Mike Harris and so many conservatives, Mr Scheer is a fake, a long term government trough-slopper who has never accomplished anything apart from lucking out and collecting a 6 figure MP salary at a young age.

The hypocrisy of such conservatives, sadly dominated by Boomers, has now run its course. Cutting taxes for the wealthy and services for ordinary people while adding to collective debt will not be voted in again. Been there, done that. It doesn’t work and is an obvious distraction from the real mission of Boomer Cons, enriching themselves at the expense of everyone else.

From Reagan to Thatcher to Mulroney to Harris to Harper and Kenney and more, the conservative era of lies and fake populism with backroom profiteering and self-dealing is finished.

Boomers, if you continue to vote for the Cons, we will have no choice but to show you no mercy, in order to save our country.

Be part of the change.

Or be run over by it.

#105 leebow on 09.30.19 at 9:56 pm

#92 #82 Three hurrays for taxing bubble gains

It appears that you misunderstand what landlords do. It’s a lot of work to provide a safe and comfortable home for somebody. In fact, it’s so much work that it is almost certain that I will never do that again.

There is a lot of research regarding value of capital markets to the economy. You can easily find more information on the interwebs.

Absolute majority of investors that you so passionately want to rob made their capital by doing their homework at school, having a successful career, business, or both.

#106 Ustabe on 09.30.19 at 9:56 pm

I used to tell my employees that if they weren’t happy coming to work to let me know so we could hopefully fix that. And we did. Most often at any rate.

Quite a few posters don’t seem to be very happy of late and, you know, as someone well into my 7th decade, if you aren’t happy then try something else because its just no fun to go through life unhappy.

I just got my little Teardrop trailer back from the welding shop where I had some additions to my pleasurable use of it made and for that I’m happy.

This coming late spring we are going up through Hay River, around the toe of Great Slave Lake and on into Yellowknife. On our way out we will stop in as many of the little villages as possible buying as much First Nation’s art as possible because that makes us happy. I’m so looking forward to this trip because when it is over we will have traveled almost 70% of all the roads in the Northwest Territories.

Ever been stopped on a road for almost an hour while you had to wait for a herd of caribou to cross…sure hope that happens this trip, that would make me happy.

Happy, happy, happy.

#107 BC Renovator on 09.30.19 at 10:50 pm

Garth, Leebow: the only exception AFAIAC are folks who have made their gains from productive business efforts, such as entrepreneurs. But why on earth should landlords and stock/bond investors, who do not produce anything valuable and have only achieved their gains through Canada’s monetary policy, pay only half in taxes? Get off your high horses!

__________

Here here, a true Socialist. Be sure to vote people

#108 Leo Trollstoy on 09.30.19 at 10:57 pm

Some blog dogs can sure vomit out a lot of BS

#109 Paul on 09.30.19 at 11:05 pm

#40 Madcat on 09.30.19 at 5:45 pm
As much as I hate to do it I will be voting Liberal (to vote against the Conservatives) to avoid 30 year amortizations and removal of the stress test by the Cons.
————————————————————————————————
Nickels and dimes compared to Justin, balanced budget promise last election did not happen and now wants to tack on 100 billion.

#110 Dazed and CONfused on 09.30.19 at 11:07 pm

Keep in mind that it is impossible for Clownface nor Blackface to come up with these ludicrous and irresponsible voter bribes all on their own.

As always they are the product of some pimply-faced, campaign spin doctoring political dweeb like Cory Hann et al, whose sole narrow-minded function on the food chain is to pump their party’s own self-serving interests far ahead of their opponents’ interests by any questionable and nefarious means possible, the interests and well-being of the average financially-illiterate Canadian voter be damned.

#111 Politico on 09.30.19 at 11:24 pm

This was the plan from the start:

1. Have the Russians elect Donald Trump.

2. Immediately have him commit high crimes on video tape.

3. Trump, of course, realizing he was being recorded at every moment, was not going to do anything illegal.

4. That’s fine we can make up what isn’t on tape.

5. If the media says what is on the tape doesn’t matter what is actually on the tape doesn’t matter either.

6. Impeach a president who’s only crime is being a jerk.

You have to ask yourselves folks, what motive does a man who is already a billionaire, has his own jet and a golf course, and is married to one of the most beautiful women in the world that is half his age, what motive does he have to suddenly run for president and then commit one act of treason and crime after another? Unless he has gone completely insane, the Donald will go through as the least corrupt president ever. He literally has nothing at all to gain from a life of crime that he doesn’t already have, sourced criminally or not.

That’s why he is so hated. He can’t be corrupted because he already has all he could want or possibly gain. You can’t bribe a billionaire, unless you have dirt on him that could land him in jail, and that is more blackmail than bribery. So the dirt, if it does not exist, must be manufactured.

I’ve read the transcript. There is no “there” there. The dems know they are going to suffer perhaps the largest ever landslide loss in history in 2020. So they aren’t playing by the rules anymore. Hell they are even considering pulling Hillary out of her coffin and trying to run her again. Seriously? A vampire? That’s the best you’ve got? Good luck.

Trump 2020 is a forgone conclusion at this point.

#112 the ryguy on 09.30.19 at 11:29 pm

“And Mr. Scheer should be ashamed.”

Yeah maybe..but what are you going to do when the opposition is full of fools? What about when T2 gives our media $600m..nothing suspicious there right?

“Scheer is a racist” screams every idiot..whoa, what did he do? He didn’t do brownface…but ok libs..he’s the racist.

“Killing the planet”..not 1 SINGLE point made my Mr Gore’s inconvenient truth has panned out. God forbid anyone looks backwards and uses some common sense.

Sadly the huge no tax paying segment of our country is full of mouth breathers..once a proud nation, now we are essentially the SJW of the world…such a shame.

To the poster that asked about the E2 Visa..if its your funds you can legally work at the business..if its your wives than you would need to get a spousal visa..takes 3 months once the E2 is issued. Im on the same path as you.

#113 SoggyShorts on 09.30.19 at 11:38 pm

#92 #82 Three hurrays for taxing bubble gains on 09.30.19 at 9:05 pm.
But why on earth should landlords and stock/bond investors, who do not produce anything valuable and have only achieved their gains through Canada’s monetary policy, pay only half in taxes? Get off your high horses!

**************************
1. Landlords already pay full tax, cap gains on rental properties are fully taxed.
2. Investors invest in businesses that produce things and can do so because of those risky investments.

Do you really not know any of this?

#114 DON on 09.30.19 at 11:45 pm

#64 Flop… on 09.30.19 at 7:13 pm

With so many Canadians living financially above their means, Ive been experimenting with budget food options in case all hell breaks loose.

Forget Beyond Meat.

I’ve been sweeping up the sawdust at work, rolling it into a ball, sticking it between two pieces of bread and slathering it with barbecue sauce and chowing down on it.

***************
I think you just discovered fast food – percentage of wood fibre. Rotten Ronnies. You need to marinade the sawdust for the best results.

#115 AB Boxster on 09.30.19 at 11:49 pm

Huh.

The Prime Minstrel seems to be looking a little pale in that picture.

#116 Megan on 09.30.19 at 11:51 pm

Garth, I think tomorrow’s post needs to be on the camping bursary. How can this be reality?

#117 Bob Dog on 10.01.19 at 12:02 am

If you are a boomer that has profited bigly from the obscene policies of a corrupt government and you are bitching about paying taxes so that young Canadians can avoid homelessness, perhaps you would prefer retiring in Yemen. Your absence would free up much needed housing for young educated migrants.

#118 DON on 10.01.19 at 12:04 am

I’m voting for Captain Underpants. Tra la la!

The party leaders are promising the World. Wait…is the World ending tomorrow?

This is getting stupid…where are the adults in the room. Doesn’t seem like many are challenging where all the revenue is coming from. It’s ok to be in ubber debt, so why not jump in head first, without first checking that there is water in the pool. This is getting interesting, it is almost as if we forgot the lessons of the past. This isn’t a technology thing, it’s plain old human nature recycling. Speaking of recycling I take it all my plastic gets burned in Malaysia. Time to start leaving the excessive packaging at WalMart et al.

#119 Ballsout on 10.01.19 at 12:17 am

Yes, it seems Canadians are that stupid. What was the benefit from the last Liberal budget? Net zero? And here you are voting for promises? Seriously. And, the promised flood of easy dope on every corner never materialized. Gobsmacked. I think I’ll paint my face black and wear a clown costume on Election Day. If I can I might grope a few of my fellow Canadians while waiting to cast.

#120 Smoking Man on 10.01.19 at 12:46 am

T2 is going to win easily…

I warned you ungratefull bastards that the thief is coming for every last cent you have…

I and many other thinkers, job creators run from Canada as refugees, to Trump’s America. . When you got loot running is easy..

When T2 wins, you will see a mass Exodus of a shit load of Canadian liberals with money run to Trumps America.

My best buddy who employees 800 well paid people in Concord ON. Is setting up shop on South Carolina.

He finally sees it coming. BTW he’s a Muslim and loves bacon and eggs..

So tell me teachers who made this mess. Who is going to fund your salaries , and pension when risk takers flipped you and your loyal students the bird..

Canadians are doomed..

Gartho you rebel, why the Fk do you have an area code letters.

You know it’s coming….cowboy boots must fkupb brain circulations. Go flop flops.

Everyone loves dogs in the south west.

#121 NFN_NLN on 10.01.19 at 1:38 am

Is this the diversity of opinion you’re hoping to open Canada up to Garth?

https://youtu.be/SsWa9fieWSU

#122 Jimers on 10.01.19 at 1:57 am

Did CBC predict Hilliary would win 2016?

#123 crazyfox on 10.01.19 at 3:50 am

The way I see it Garth and I should apologize in advance here for not taking much time in following Canadian elections, the U.S. spectacle has distracted me with Trump crashing and burning before our eyes… it shouldn’t surprise us and yet it did and the knives are out for Trump from all sides now but I wander.

The thing with Canadian elections as I briefly see it is that we are given choices where the 2 major parties will both run $20+ billion dollar deficits. I agree with you that fed debt at these levels is bad even though GDP growth should actually lower debt to GDP levels. My reasoning is that while this may be the case, bond markets look at the sum total of all intergovernmental debt. Its the ballooning debt of the provinces that concern me. Total up intergovernmental debt levels and Canada isn’t in a great place. Clearly, we have an overspending problem at the fed level but seriously, would a Con government be any different? It’s doubtful and that’s the problem for Cons. Why would voters switch unless you have wealth and new taxes effect you personally? The rich bemoan but we do have a growing income inequality gap and taxation is one way of closing the gap.

I mean, look at the Libs up to $40,000 interest free loans to make houses more energy efficient, as an example. Sure, housing values will go up but for the right reasons. Physical value IS value. The Con plan is 30 year zero down’s that are sure to inflate Re values and quickly but only through regs meaning its paper only, without real physical value and in an age of climate change awareness, energy efficiency/independence matters to those in the know. Energy efficient homes and/or the choice of roof top wind/solar adding value is better ideology, assuming one thinks higher priced homes are better for everyone and that’s debatable but both parties are offering policy that is taking us there and if people don’t think climate change isn’t an issue, perhaps they missed the record protest crowds in Canada earlier this month or the Greens polling federally consistently at 13%. When’s the last time that’s happened so late in the election cycle? The Greens are headed for party status if they keep this up because they are direct beneficiaries of climate change fast becoming the #1 issue in the generation to come not just nationally but globally… for good reason! The U.S. military lists climate change outside of nuclear proliferation as the #1 threat to the U.S. FOR A REASON.

Up to $40 K interest free to make a home more energy efficient… the Libs haven’t delivered on climate change and could do more but what would the Con’s do? They are Republican lite when it comes to climate change, in denial, a literal poster card for Greta Thunberg’s raw emotional display:

https://metro.co.uk/video/greta-tells-stolen-dreams-childhood-2011694/

And this black/brown face thing that the Cons were so quick to take to international media never mind here at home. Does anyone seriously believe Trudeau is a racist? Anyone at all including the occasional international political propagandist state operative or opposition politician who says different? A party trying to win an election based on lies, leads the intelligent mind to expect a party governing with lies. Whatever happened to winning an election on merit! Y’know, instead of smearing your way to victory like the way of Trump, use superior policy, vision with governance, anticipation and correct action against the true threats to the future health and prosperity of Canadians, you know, merit! It’s not like the Cons are oozing it right now from what I see. Their base of Trump cheerleaders are watching the immorally lawless Trump train crash and burn deservedly while the Dems inch closer to control of all 3 houses. now i ask you… which Canadian government would you want in such a scenario playing out south of the line?

And why should vote rich Ontario suffering from Ford brow beat be so keen to sign up for a fed Con government with a western leader that draws power through west/east division? The “we will favor you” message coast to coast really does come across as fickle compared to “we will try to treat everyone the same”. Lord knows T2 is far from perfect from this in practice but there’s always worse y’know? Ontario’s fresh school of hard knocks lesson provincially knows it only too well.

What I’m saying in a nutshell is, unless the Cons change their policies and adapt to the needed changes of the times, not just lip sync it but come out with superior policies and leadership that isn’t so filled with opportunistic smears, division and hyperbolic deceit, why should Canadians become so eager to jump ship from the status quo? It’s a dreary comparison but it’s politics… it’s about supporting the lesser of 2 evils, is it not?

#124 Leanne on 10.01.19 at 4:30 am

The Conservatives lost my vote this time around when it was made clear that they aren’t serious about climate change and have been pandering to the climate change deniers. Sad.

#125 Mr Dirty Face Race on 10.01.19 at 4:37 am

Remember how Trudeau ” admires China’s basic dictatorship”? Remember when he praised Fidel Castro to the moon as a ‘Great Leader”?

https://www.heraldmailmedia.com/news/nation/on-eve-of-china-s-th-anniversary-parade-president-xi/article_fffd82bb-6a8d-572f-b14e-f57419eacb5e.html

Did you watch any of Chinas 70th anniversary celebration of the enslavement by the Red Chinese Communist Party?

Did you see any diversity? Conspicuously absent were Palestinian flags, rainbow sidewalks, female equality in the governing Politburo. Lost in the crowd were LGBTQ2S representation at the invisible Pride Parade. There were no free speakers. No lobbyists for free speech and private Enterprise, I could go on and identify other glaring comparisons, but why? You’re not stupid, are you? You know the difference between Democracy and Fascism. My question is, ” If my leader ie: Mr Trudeau , esposes fascist dictators as his perfect example and I vote for Mr Trudeau, does that make me a facist”?

I remember 1965 when Chinese were starving by the millions , Canada was shipping grain. The Communist Party fed it’s soldiers and threatened to nuke Japan. Meanwhile the Cultural Revolution fanatics shit everyone with an education. China was closed. Our University students wore silly Mao Hats and passed around ‘The Red Book’. Idiots.

In 1985 Richard Nixon sent over a ping pong team . Only then did Mao stop shooting his own people. Trudeau’s idol didn’t bath for years at a time. Is there something wrong with Communism? Should Mr Trudeau be selling it? What about Mr Trudeau’s other pet social projects? Can you buy peace with silly costumes? Atlas shrugged?

#126 Scary Times on 10.01.19 at 6:22 am

https://www.heraldmailmedia.com/news/nation/on-eve-of-china-s-th-anniversary-parade-president-xi/article_fffd82bb-6a8d-572f-b14e-f57419eacb5e.html

Didn’t Trudeau say he loved China’s dictatorship? Trudeau forgets that Mao shot everyone with an education, especially spoiled teachers whom he loathed.

#127 one big joke on 10.01.19 at 6:48 am

“Big Government’s back – a mothering omnipresent, omnipotent and omniscient mass papering over the individual financial failures of its citizenry.”

well, that’s an interesting comment in the wake of events back in 2008/9 and after.

considering what the TARP was and the FED printing trillions to buy up even more garbage debt… all in an effort to paper over the financial failures of Fannie, Freddie, Bear Sterns, Lehman brothers, AIG.. etc etc..

no difference .. morally.

and now, with the FED injecting Billions daily into money markets, the gig is up. permanent liquidity. get ready for inflation. the obvious answer to all this debt.

#128 MF on 10.01.19 at 7:06 am

#120 Smoking Man on 10.01.19 at 12:46 am

-Yeah and GM is closing plants in the US of A.

Trump has made a few big errors:

1) the omni bill (or whatever it was called) made T2’s spending look cheap. And it occured at the same time tax revenues were cut deeply. 21 Trillion reasons why that was not a smart move and will come to back to bite “people with money” very shortly.

2) Pressuring the Fed for rate cuts was beyond stupid. Low interest rates have warped and messed with the world economy. The medicine was being administered and Trump (who campaigned the Fed left rates too low for too long) should have kept his mouth shut. Dumb move.

3) the Democrats have become far more left leaning than even our Liberals, whom 3/10 Canadians vote for. The Dems are 50% of your population down there. When you say “they are coming for your money” you might mean your fellow American.

MF

#129 expat on 10.01.19 at 7:21 am

If Scheer went Brownface it might increase his coverage at Communist Broadcasting Corp and his election chances….

It might even create some excitement for him.

Rue the day the Quebec and Ontario Dairy producers ever colluded to get this sleepy guy elected.

#130 expat on 10.01.19 at 7:25 am

#124 Leanne

The Conservatives lost my vote this time around when it was made clear that they aren’t serious about climate change and have been pandering to the climate change deniers. Sad.
___________________________________

If 100 billion in debt isn’t important to you, the climate will be the least of your worries.

Carbon taxes have increased your cost of living and have done nothing and will do nothing for the world and further, you will be unemployed as businesses leave Canada.

If you work for government and think you are safe you are dreaming. You are paid by private sector taxes which won’t be there to pay you.

You Liberals will you make you poorer.

But go ahead and be a lemming…..
The Liberals love you for it.

#131 Jack on 10.01.19 at 7:53 am

Re: #15 AGuyInVancouver on 09.30.19 at 3:42 pm
“LOL, you’re so outraged about deficits you are moving to Trumpland with its $1 trillion a year deficits? Laughable, not laudable.

Given that interest rates are near negative and most other G20 countries run far larger deficits vs GDP than Canada it would be near irresponsible not to invest in people and infrastructure here through borrowing.”

I’m outraged at the ‘tax of the day’ liberals. They keep taking from the ‘rich’ which are actually middle class Canadians.

If the liberals were borrowing for infrastructure investments i wouldn’t mind so much … they’re just giving money away to people who will blow it on tim hortons coffee and pot. This is what i don’t understand with government borrowing. A prudent company will borrow money to invest in infrastructure, advertising, research, etc – all with the goal of increasing revenue and profits in the future. Our government borrows to give away camping trips to ‘poor’ Canadians. There is no return at all – just more interest payments. I’m not sure what the critical mass of debt is, but if Greece is any indication we’re pooched.

#132 MF on 10.01.19 at 7:57 am

130 expat on 10.01.19 at 7:25 am

Lol this guy^

You are correct 100 billion of debt is pretty bad.

You know what’s worse though?

21 (soon to be 22) trillion of debt.

Nice try coming here trying to spew your self righteous garbage.

MF

#133 Tater on 10.01.19 at 8:05 am

#63 Rakiki on 09.30.19 at 7:09 pm
The plan has always been to retire early and live on moderate income in order to avoid being bled dry by taxes.

——————————

Brb, eating cat food in retirement to own the libs!

#134 Andrew on 10.01.19 at 8:06 am

Vote with your wallet. Vote with the one tool of change that cannot be ignored. Buy bitcoin.

#135 Tater on 10.01.19 at 8:12 am

#87 SoggyShorts on 09.30.19 at 8:37 pm
#82 Three hurrays for taxing bubble gains on 09.30.19 at 7:54 pm

Does your boss ever randomly just take half of your after tax paycheck? There’s no risk in collecting a wage so it’s not the same thing as cap gains on investments.
————————————

Are there any proposals out there that suggest limiting the ability to offset capital gains with losses? No.

So what’s the point of your rant?

Cap gains and income should probably be taxed the same. House gains should as well. Lower the rate on income, and apply it to all sources.

#136 crowdedelevatorfartz on 10.01.19 at 8:17 am

@#74 MF

Thats right.
Change the subject.
We aint talkin 2008 market meltdown.
We’re talking massive defict budget year after year by THIS govt.
Just keep pretending grotesque , ballooning budgets dont matter.
Enjoy the higher taxes and user fees.
Prepare for the irresponsible debt bomb (100 billion more dollar on 4 years lumped on so far) being created by an out of control “Selfie”….. or be run over by it.

:)

#137 I love a good dictatorship on 10.01.19 at 8:20 am

Canada ranks dead last in inovation under Trudeau Liberals.

https://thelogic.co/news/canada-ranks-dead-last-for-creating-billion-dollar-companies-despite-ample-access-to-capital/

That’s great, were also crashing and burning in finance, technology, resource development , energy and education. Yay, were last under Trudeau Liberals who are first at piling up debt.

#138 crowdedelevatorfartz on 10.01.19 at 8:32 am

@#104 Millenial Surrealist
“Boomers, if you continue to vote for the Cons, we will have no choice but to show you no mercy, in order to save our country.
Be part of the change.
Or be run over by it.”

+++++

Not to worry my misguided child fantacist.
You dreams of a future utopia are just one more election promise away.
THERE.
No more pollution, no more global warming, no more debt, taxes are a distant dream…..

Then you wake up in 20140 and realize that the debt bomb Trudeau made much much worse is here and you’re being…… run over by it.

Alas the boomer days of Paul Martin’s balanced budgets when he actually REDUCED the national debt are but a distant Boomer created (and voted for) memory that you destitute millenials can only wistfully , enviously , dream about.
The horrifying realization that the boomers were right all along will slowly dawn on you as the fiscal realities of not running deficit budgets….run you over….
Higher and higher taxes, user fees, income claw backs, great …

Just keep voting “Selfie” back . It’ll allllll work out.
:)

#139 Sail Away on 10.01.19 at 8:48 am

A little more about climate emergency skepticism.

One reason many people with a few years under their belt don’t fully jump on the scientific concensus bandwagon is experience with past, widely publicized and accepted, scientific theories. Let’s take a stroll down memory lane and remember:

Flat Earth theory
Static universe
Pre-Copernican system
Lamarkian evolution
Miasma theory of disease
Spontaneous generation
Aliminum and Alzheimer’s disease
Phrenology
Masturbation and blindness
Autism and vaccinations
Planet Pluto

And on and on and on.

The scientific method is designed to accept critical thinking and constant questioning. Disproving a theory is progress toward greater accuracy. Questioning the science is always acceptable.

Now, demonizing the questioner is something else entirely. That’s not science. That’s a lot more like… religion. Can anyone think of any time in the past something regrettable was done in the name of religion?

#140 dharma bum on 10.01.19 at 8:52 am

#3 James

“…they can at least light up another blunt and drift off to I don’t give a F#ck land…”
——————————————————————–

Why not?

It’s the Happiest Place On Earth. :-)

#141 leebow on 10.01.19 at 8:54 am

#93 To top it all

Because to get there, you need to accumulate capital. And then you need to actually risk that capital. There are some people who inherit the money, but they are few and usually blow the money away within a generation or two.

#98 Samantha
I’m not sure what is “mega capital gains”. In one city close to Toronto, I’ve heard one guy is really rich because “he has almost 10K in his bank account”. I’m also not sure what “low taxes” you are talking about, because the taxes are pretty high.

I feel sad for your kids and sorry for your loss. I am all for social support network. But the money should be spent wisely and not wasted on people who continually make bad choices, who can fix their situation but do not. I’d rather pay more to the people who are truly out of options.

Taking survivorship risk is a bad bet, unless you are an insurance company. Actuaries will gladly sell you protection for a relatively small fee. Best bets are when your downside is small and upside is huge. Life insurance is other way around.

#142 Sail Away on 10.01.19 at 8:56 am

#126 Scary Times on 10.01.19 at 6:22 am

https://www.heraldmailmedia.com/news/nation/on-eve-of-china-s-th-anniversary-parade-president-xi/article_fffd82bb-6a8d-572f-b14e-f57419eacb5e.html

…Mao shot everyone with an education, especially spoiled teachers whom he loathed.

—————————————–

Sounds like Mao and Smoking Man might share an ideology. Don’t give that man a gun!

#143 IHCTD9 on 10.01.19 at 9:05 am

#98 Samantha on 09.30.19 at 9:26 pm

I cannot believe #89, leebow. What a bunch of crock, “folks with mega capital gains … worked both harder AND smarter than you”. You believe you are entitled to your low taxes on your investment gains because you worked harder than the single mom of three who works all day long to sustain her family and has no money left to invest? Wow, I am flabbergasted.
___

Yes they probably did work harder. Big capital gains means they made a pile – most will have needed much more than luck to get there. The ‘more” normally manifests itself as working from dawn till dusk and risking it all knowing the odds are 80-90% that you’ll fail.

I am nearly done raising two kids, and it’s just not as hard as all the single Moms keep saying it is. Not even close. If you want a ‘bunch of crock” – the idea that all the single Moms are working themselves into the ground trying to raise kids is the king of crocks.

In fact, if you’re doing it right; the kids start making life much easier after they hit a certain age.

#144 IHCTD9 on 10.01.19 at 9:19 am

#99 Remembrancer on 09.30.19 at 9:26 pm
#91 Sail Away on 09.30.19 at 9:00 pm
————————————
Ants are interesting in many ways but boring politically. We might all be happier as ants.
—————————————————
Hmm, I wonder if many of the regular blog dogs here would thrive in a hereditary matriarchal aristocracy though…
___

I could handle it – almost the entire colony of ants is female, and the only time males are produced, is when it’s time to fertilize more eggs.

So the perspective of the male ant would be that they are getting down with the ladies from the moment of birth to the moment of death.

How bad could that be? :)

#145 Tater on 10.01.19 at 9:49 am

#143 IHCTD9 on 10.01.19 at 9:05 am

I am nearly done raising two kids, and it’s just not as hard as all the single Moms keep saying it is. Not even close. If you want a ‘bunch of crock” – the idea that all the single Moms are working themselves into the ground trying to raise kids is the king of crocks.

In fact, if you’re doing it right; the kids start making life much easier after they hit a certain age.

————————————-

Well, if anyone didn’t think you’re an @sshole before, they now know it.

Just a fantastically dumb, un-empathetic post from a parasite.

#146 Jesse on 10.01.19 at 10:02 am

Where’s Dolce Vita? We need some help on moving to Italy where there’s cheap housing and beautiful weather. Time to bail on the coming “Zimbabwe-fication” of Canada.

#147 David Hawke on 10.01.19 at 10:03 am

@IHCTD9 #13 Spot on
@Biofuel #16 Sadly corn burners have not been developed to thier fullest potential thus are neither cheaper nor cleaner plus there’s the clinker problem.

My solution to the perfect stove was pelletizing the corn while adding 10% coal thus no clinker, hotter burn, no polution, however, high cost of development combined with low demand made it impractical.

#148 Sail Away on 10.01.19 at 10:12 am

#143 IHCTD9 on 10.01.19 at 9:05 am
#98 Samantha on 09.30.19 at 9:26 pm

I cannot believe #89, leebow. What a bunch of crock, “folks with mega capital gains … worked both harder AND smarter than you”. You believe you are entitled to your low taxes on your investment gains because you worked harder than the single mom of three who works all day long to sustain her family and has no money left to invest? Wow, I am flabbergasted.
___

I am nearly done raising two kids, and it’s just not as hard as all the single Moms keep saying it is. Not even close. If you want a ‘bunch of crock” – the idea that all the single Moms are working themselves into the ground trying to raise kids is the king of crocks.

In fact, if you’re doing it right; the kids start making life much easier after they hit a certain age.

—————————————

Exactly. Raising young kids definitely takes time but then they become an asset starting about 10-11 if you’ve done a proper job. My chore list is awful now that the kids are out of the house.

I deserve sympathy and probably a tax break as a poor, overworked father with no kids to ease the load. Woe is me!

#149 David Hawke on 10.01.19 at 10:16 am

There are a couple of major problems voting Conservative, firstly look at the leaders Trump, Johnson, and Herr Harper’s puppet Scheer, all certifiable wingnuts!

Secondly Herr Harper, unconstitutionally, took away expats thus turning Canada into a tyranny rather than a democracy! I can never support the chance of such actions returning!

#150 maxx on 10.01.19 at 10:23 am

@ #3

Agreed. Trouble is, this won’t change anytime soon as we live in an age of short-term thinking. Let’s call it “chrono-myopia”.

Nothing truly good (let alone great) is ever achieved on a short-term basis. Not a good economy, not good health, not a happy and comfortable retirement.

We should all pay very close attention to Garth’s words today, especially those who have “made it” by working very diligently and hard for decades.

#151 Penny Henny on 10.01.19 at 10:25 am

#113 SoggyShorts on 09.30.19 at 11:38 pm
#92 #82 Three hurrays for taxing bubble gains on 09.30.19 at 9:05 pm.
But why on earth should landlords and stock/bond investors, who do not produce anything valuable and have only achieved their gains through Canada’s monetary policy, pay only half in taxes? Get off your high horses!
**************************

2. Investors invest in businesses that produce things and can do so because of those risky investments.

////////////////
Soggy lets take this example and apply it an existing company.
Dollarstore for example. Lets say that from this point forward no one bought any DLR stock how would this negatively affect Dollarama the business? Would it not continue to exist?

I always hear that the reward for taking a higher risk is a greater rate of return. For example I expect a higher rate of return for buying XIU (TSX Index fund) instead of buying a GIC. Isn’t my higher rate of return my reward for taking a greater risk?
If so then why should I be taxed a lower rate on my higher returns? Is this a Double reward?

Please try to answer these questions without name calling. Thanks

#152 Sideshow Rob on 10.01.19 at 10:33 am

At some point thinking people are going to ask themselves one question; Do I really want to live and pay taxes in a country that punishes hard word and excellence and rewards mediocrity?

#153 Remembrancer on 10.01.19 at 10:36 am

#149 David Hawke on 10.01.19 at 10:16 am
unconstitutionally, took away expats thus turning Canada into a tyranny rather than a democracy
———————————————
While there is perhaps an interesting conversation regarding expats and the franchise, sir, calling it a move from democracy to tyranny is not part of that IMHO…

For example, I’m not 100% committed to you having a say in whether or not a high speed rail line is going through my front yard from a lounge chair in SE Asia or Central America…

#154 Westcdn on 10.01.19 at 10:40 am

Maybe some will find my comments useful. I watch and listen. I have no lock on being right and will accept a kick in the butt for being stupid. There is no way I will shrink the world to make me omnipotent. I have spare time due to snowtember. I am planning for another lousy year in Alberta where the oilsands are beaten up again. The near future does not look bright to me.

I am definitely defensive with my investments for 2020. I consider trusts(reits) and preferreds as fixed income and am slowly increasing my preferred exposure. I am getting better with option trading. My last forays have worked but they were just chump change (bought HMMJ puts and JE calls). I have a lot to learn about using them and have many adventures to experience. Main thing is to be prepared to lose because the house odds are against you – the damn things have a short expiry date plus I am not a market timer and would make a lousy day trader. Nonetheless, they sharpen my wits about market vulgarities.

I thought about writing covered calls but at my economic level, the commission was too high regarding reward. Good thing because JE has taken off. I do miss the dividends on their common but I bought their preferreds – it is working out plus I get US$. I bought them on margin and you get screwed over with the loan rates. Needless to say, I am paying US$ loan fast.

I hold a 30 percentage of Trusts, mainly reits. The distributions from a reit are usually income but do include capital gains and return of capital. Since income distributions are fully taxable, I try to keep my reits in my tfsa and my preferreds in my margin account for tax efficiency. Meanwhile I am winding down my RSP tax efficiently. I have many losers in my margin account to sell before yearend.

I hear that OAS may be increased – oh boy, oh boy. It sucks to be a single male millennium (sarc) when it comes to government programs. Just so you know; I have always been treated as a tax cow. Those carrots waved in my face seem tasty but could never reach them. I had to find my own way.

#155 Mattl on 10.01.19 at 10:41 am

#98 Samantha on 09.30.19 at 9:26 pm
I cannot believe #89, leebow. What a bunch of crock, “folks with mega capital gains … worked both harder AND smarter than you”. You believe you are entitled to your low taxes on your investment gains because you worked harder than the single mom of three who works all day long to sustain her family and has no money left to invest? Wow, I am flabbergasted.

—————————————————————-

Welcome back from the coma. While you have been out, the Gov rolled out a program called CCB. That single mom with three kids, depending on income, would be pulling in around 20K per year. Enough to rent a decent home in most places in the country, and to pay the mortgage in many others.

So ya, free rent for that Mom but some middle class guy that saved up to be able to buy a home,was able to keep his family together, buckled down paid off his mortgage with after tax dollars, made a little on his home after inflation, prop taxes, maintenance, should pay cap gains. Is that your position?

#156 IHCTD9 on 10.01.19 at 10:45 am

#148 Sail Away on 10.01.19 at 10:12 am

Exactly. Raising young kids definitely takes time but then they become an asset starting about 10-11 if you’ve done a proper job. My chore list is awful now that the kids are out of the house.

I deserve sympathy and probably a tax break as a poor, overworked father with no kids to ease the load. Woe is me!
___

LOL! Let’s hit up Trudeau for a NCAB (no children anymore benefit)!

We are suffering terribly since we’ve had to start doing all these bloody jobs again ourselves!

#157 MF on 10.01.19 at 10:45 am

36 crowdedelevatorfartz on 10.01.19 at 8:17 am

Lol don’t deflect.

2008 changed everything.

It was the beginning of big debt and bigger government.

And there was nary a millennial in power at the time.

You blamed mils for debt and taxes and I called you out on it.

Occupy Wall Street?

MF

#158 Net Zero on 10.01.19 at 10:46 am

More photos of racist and lying Trudeau surface.

https://torontosun.com/opinion/columnists/malcolm-trudeaus-yearbook-tells-a-bigger-story

He said he taught math, he didn’t. According to the school record he was a fluff course substitute referred to as a loud mouth maniac.

Why has a debate moderator been seen in a strategy session with Gerald Butts? Where is the media on this? Is this an election being manipulated by liars?

#159 conan on 10.01.19 at 11:08 am

Cons lose this election because of one thing. They chose wrong on the climate change file.

#160 leebow on 10.01.19 at 11:09 am

#151 Penny Henny

Because at some point Dollarama was a high risk penny stock. Some people came in with equity capital and helped the business grow. Then it became less risky and others bought out the original stock holders, thus releasing the capital so that the original investors can go on to the next risky venture, and so forth. In the meanwhile, Dollarama is still open to a lot of risks. I’m not so sure Dollarama will be around in 10 years.

For GIC, you enjoy protection from CDIC, a crown corp. Your returns are being subsidized by taxpayers.

Expected return in itself is a pretty meaningless number. It needs to be adjusted by the risk. Stock investors lose money all the time, and nobody is there to reimburse them for the losses.

If you think there is free lunch, then you should go and eat it. Invite your friends too.

#161 Shawn Allen on 10.01.19 at 11:25 am

Income Tax Brackets are indexed to inflation

#103 Nonplused on 09.30.19 at 9:34 pm responded:
#86 Shawn Allen

The only part of the tax code that was indexed to inflation is the personal exemption (i.e. the amount you didn’t have to pay tax on). It, like CPP, is occasionally adjusted, but only a day late and a dollar short. The other step points are supposed to be adjusted but I think that’s only happened once and advertised as a tax cut.

************************************
It may not fit with the usual narrative but, actually, your thinking is wrong there when the facts are checked.

The income tax brackets are indeed indexed and have been for many years (decades now?).

See this link:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/adjustment-personal-income-tax-benefit-amounts.html

The Canada Pension is also indexed to inflation

https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/cpp-price.html

#162 IHCTD9 on 10.01.19 at 11:25 am

#147 David Hawke on 10.01.19 at 10:03 am
@IHCTD9 #13 Spot on
@Biofuel #16 Sadly corn burners have not been developed to thier fullest potential thus are neither cheaper nor cleaner plus there’s the clinker problem.

My solution to the perfect stove was pelletizing the corn while adding 10% coal thus no clinker, hotter burn, no polution, however, high cost of development combined with low demand made it impractical.
___

I experienced clinkers big time with grain and corn – even with an agitator in the pot. The only way I could make it work was to mix some wood pellets in with it. I found the dried feed corn I was using still had a load of water in it also.

Ultimately the killer was dealing with the fact that these fuels were food to basically everything and anything – too much trouble.

#163 Shawn Allen on 10.01.19 at 11:36 am

Penny Henny is correct on Risk and taxes

#151 Penny Henny on 10.01.19 at 10:25 am responded to Soggy
////////////////
Soggy lets take this example and apply it an existing company.
Dollarstore for example. Lets say that from this point forward no one bought any DLR stock how would this negatively affect Dollarama the business? Would it not continue to exist?

I always hear that the reward for taking a higher risk is a greater rate of return. For example I expect a higher rate of return for buying XIU (TSX Index fund) instead of buying a GIC. Isn’t my higher rate of return my reward for taking a greater risk?
If so then why should I be taxed a lower rate on my higher returns? Is this a Double reward?

Please try to answer these questions without name calling. Thanks

*************************
Well, I was not asked but Penny Henny is 100% correct.

Investors on high horses talk about their money going into corporations when much of it is merely traded among themselves.

And yes there is a double reward when stocks outperform GICs and get a tax break. Whether that tax break and double reward is actually needed and justified to encourage investment (especially in IPOs where the money actually goes to the corporation) is simply debatable. Investors as a group will always vote yes it is.

It’s difficult for anyone who benefits from the lower tax on dividends and capital gains to have an objective opinion.

#164 Robert Ash on 10.01.19 at 11:36 am

I like that saying… Get the Drift… Well, I choose … Gone. Get the Drift…. Love it…

#165 IHCTD9 on 10.01.19 at 11:37 am

#145 Tater on 10.01.19 at 9:49 am
#143 IHCTD9 on 10.01.19 at 9:05 am

I am nearly done raising two kids, and it’s just not as hard as all the single Moms keep saying it is. Not even close. If you want a ‘bunch of crock” – the idea that all the single Moms are working themselves into the ground trying to raise kids is the king of crocks.

In fact, if you’re doing it right; the kids start making life much easier after they hit a certain age.

————————————-

Well, if anyone didn’t think you’re an @sshole before, they now know it.

Just a fantastically dumb, un-empathetic post from a parasite.
___

LOL – That wasn’t over the top AT ALL!

Fresh off your 1st apology too. I thought you were turning over a new leaf. I guess not.

No worries though Tater, I’m sure there are lots of folks here who just love listening to your big ******* mouth.

#166 lawboy on 10.01.19 at 11:49 am

The Eric Grenier’s CBC poll tracker is bullXXXX, just like Nate Silver’s was in the U.S. in 2016.

Angus Reid has a study out today of voting intentions in the ‘close’ races of 2015 (decided by less than 5%). In about 3 dozen where the Libs won by less than 5%, and where the Lib vote surpassed the Con vote 41 to 30, the Lib vote is now 4% behind the Cons.

http://angusreid.org/election-2019-swing-ridings/

It is IMPOSSIBLE for the Libs, who currently have a narrow majority of about 6 seats, to win a majority given these intentions. But the CBC says there is a nearly 40% chance. Ok then. Must be based on faith not data.

Looks like no one can claim a likely majority right now but that will change, and either Libs come back, or Cons move up a bit more and win majority.

#167 Sail Away on 10.01.19 at 11:58 am

#157 IHCTD9 on 10.01.19 at 11:37 am
#145 Tater on 10.01.19 at 9:49

Well, if anyone didn’t think you’re an @sshole before, they now know it.

Just a fantastically dumb, un-empathetic post from a parasite.
___

LOL – That wasn’t over the top AT ALL!

Fresh off your 1st apology too. I thought you were turning over a new leaf. I guess not.

No worries though Tater, I’m sure there are lots of folks here who just love listening to your big ******* mouth.

—————————————

Yes- pure, raw, unbridled aggression is the true sign of sophistication. Bravo Tater!

Weren’t you the one who tried to set up an actual fight with another blogdog before your last timeout from the blog? Hahaha

#168 Ace Goodheart on 10.01.19 at 12:12 pm

RE: #104 Millennial Realist on 09.30.19 at 9:55 pm

“Scheer should be ashamed.

Fraudulently presenting himself as an experienced insurance broker tells everyone with a brain that he cannot be trusted and has no integrity even in basic matters like his resume.”

Scheer’s insurance broker designation was obtained before his jurisdiction changed the laws on this type of designation.

He has explained this at length. Back when he did it, the credentials you require now, you did not require. They changed the credential requirements.

Interesting comments on child-rearing and work on this blog today.

I am currently co-raising a 16 month old. They require 24 hour care. They wake up in the middle of the night, and stay awake (and crying) until you figure out what is wrong with them. If they are sick, they will not sleep for days. Neither will you.

They are best parented in “tag team” parenting with two people doing the work. This is especially necessary during winter flu season (otherwise get used to not sleeping for a few days or more, while your 16 month old sleeps for an hour at a time when he/she has the latest flu bug – they get them all).

When the little guy is sick with the flu, we usually have one of us take the first night shift until about 2am, and then that one wakes up the one who was sleeping, who takes the second shift until 7am. That way, we both get to sleep.

The other problem you find, with children under age 3, is that they really don’t work well with the requirements of a salaried job work schedule.

Oh ok, one of the partners just got a big file in (Mr. or Ms. Rainmaker) and everyone is working late. So let’s all go out to dinner, have some drinks, on the company card, and then head back to the office and work until after midnight. Get home and get some sleep folks, be back by 9:00am tomorrow!

Yeah, that works with a toddler. Many people have to give up good paying salaried jobs because they cannot make their 2 year old function according to the demands of a salaried employee’s work schedule.

Dinner time is 6:30pm. Bathtime is 7. Bed by 8pm (which requires about 45 minutes of snuggling, story reading and going back and forth to the crib until the little one finally drops off to what you hope is a good night’s sleep).

The Canadian job situation really does not, at all, take into account how much time is required to be a parent. And does not, at all, understand the hourly requirements of child rearing. It just does not.

Now that men are also being parents, this is becoming more well known. Back when it was mostly women raising children, they were just told “a woman’s place is in the home” and that was the end of it. No one expected them to work or have careers anyway.

#169 James on 10.01.19 at 12:17 pm

#128 MF on 10.01.19 at 7:06 am

#120 Smoking Man on 10.01.19 at 12:46 am

-Yeah and GM is closing plants in the US of A.
Trump has made a few big errors:
1) the omni bill (or whatever it was called) made T2’s spending look cheap. And it occured at the same time tax revenues were cut deeply. 21 Trillion reasons why that was not a smart move and will come to back to bite “people with money” very shortly.
2) Pressuring the Fed for rate cuts was beyond stupid. Low interest rates have warped and messed with the world economy. The medicine was being administered and Trump (who campaigned the Fed left rates too low for too long) should have kept his mouth shut. Dumb move.
3) the Democrats have become far more left leaning than even our Liberals, whom 3/10 Canadians vote for. The Dems are 50% of your population down there. When you say “they are coming for your money” you might mean your fellow American.
MF
___________________________________________
The Old Smoking Man is a bogus wannabe American. He is an impostor that asserts the USA is the greatest nation in the entire world. He is entitled to his own delusional diatribes and we all recognize that he is just stirring the pot from his encampment in Newport Center where the homeless issue has become such a national embarrassment that he cannot talk about that as an issue. All we hear from this miserable excuse for an Old Man is how we Canadians are doomed. Go get your American citizenship Old Man and then come back here so we can tell you to Piss off Yankee and mind your own God Damn business. He blows hard but all that comes out is foul odorous gas.

PS Old Man I lived there and I know what a shit hole your part of the USA is like, for that matter

https://www.latimes.com/socal/daily-pilot/news/tn-dpt-me-newport-beach-homeless-tents-20190711-story.html

https://patch.com/california/newportbeach/orange-countys-homeless-crisis-update

https://voiceofoc.org/2019/04/7000-homeless-people-in-oc-is-a-wake-up-call-experts-say/

#170 IHCTD9 on 10.01.19 at 12:18 pm

#167 Sail Away on 10.01.19 at 11:58 am
#157 IHCTD9 on 10.01.19 at 11:37 am
#145 Tater on 10.01.19 at 9:49

Well, if anyone didn’t think you’re an @sshole before, they now know it.

Just a fantastically dumb, un-empathetic post from a parasite.
___

LOL – That wasn’t over the top AT ALL!

Fresh off your 1st apology too. I thought you were turning over a new leaf. I guess not.

No worries though Tater, I’m sure there are lots of folks here who just love listening to your big ******* mouth.

—————————————

Yes- pure, raw, unbridled aggression is the true sign of sophistication. Bravo Tater!

Weren’t you the one who tried to set up an actual fight with another blogdog before your last timeout from the blog? Hahaha
_____

Not only sophisticated, and a UFC champion – but super smart too!

Hey, if you want to know how smart Tater is – just ask him! Hahaha!!

#171 Tater on 10.01.19 at 12:34 pm

167 Sail Away on 10.01.19 at 11:58 am
#157 IHCTD9 on 10.01.19 at 11:37 am
#145 Tater on 10.01.19 at 9:49

Well, if anyone didn’t think you’re an @sshole before, they now know it.

Just a fantastically dumb, un-empathetic post from a parasite.
___

LOL – That wasn’t over the top AT ALL!

Fresh off your 1st apology too. I thought you were turning over a new leaf. I guess not.

No worries though Tater, I’m sure there are lots of folks here who just love listening to your big ******* mouth.

—————————————

Yes- pure, raw, unbridled aggression is the true sign of sophistication. Bravo Tater!

Weren’t you the one who tried to set up an actual fight with another blogdog before your last timeout from the blog? Hahaha

—————————————-
Nope. Never been banned and don’t think I’ve ever had a post deleted.

Someone may have challenged me to fight, but I likely declined. Not wrecking my life over idiots on blogs.

#172 Tater on 10.01.19 at 12:38 pm

@Penny Henny at 151

There is definitely a liquidity premium that listed companies enjoy because holders can sell easily. That premium reduces funding costs. So, while no individual trade in Dollarama keeps them in business, in aggregate the fact that the have access to equity markets does help them raise capital, whether it’s debt or equity.

This premium is one of the large reasons, historically, for private companies to go public.

#173 Clinker Problem on 10.01.19 at 12:47 pm

This would be caused by moisture in the corn kernels and here is the solution. One goes to the nearest farm co-op to buy 50 lb. sacks of corn kernel animal feed. Its been processed, and the farmer must add water before its fed to his livestock. The Amish too would have dried out there corn kernels to get the moisture out.

#174 Penny Henny on 10.01.19 at 12:49 pm

#160 leebow on 10.01.19 at 11:09 am
#151 Penny Henny

Because at some point Dollarama was a high risk penny stock. Some people came in with equity capital and helped the business grow. Then it became less risky and others bought out the original stock holders, thus releasing the capital so that the original investors can go on to the next risky venture, and so forth. In the meanwhile, Dollarama is still open to a lot of risks. I’m not so sure Dollarama will be around in 10 years.
///////////////////

Thank you, point taken.
What about foreign stock that does not trade on Canadian exchanges and does no business in Canada (thus not contributing to our GDP). Should we as investors demand reduced taxes on the capital gains from these holdings?

#175 Tater on 10.01.19 at 12:52 pm

#170 IHCTD9 on 10.01.19 at 12:18 pm
#167 Sail Away on 10.01.19 at 11:58 am
#157 IHCTD9 on 10.01.19 at 11:37 am
#145 Tater on 10.01.19 at 9:49

Well, if anyone didn’t think you’re an @sshole before, they now know it.

Just a fantastically dumb, un-empathetic post from a parasite.
___

LOL – That wasn’t over the top AT ALL!

Fresh off your 1st apology too. I thought you were turning over a new leaf. I guess not.

No worries though Tater, I’m sure there are lots of folks here who just love listening to your big ******* mouth.

—————————————

Yes- pure, raw, unbridled aggression is the true sign of sophistication. Bravo Tater!

Weren’t you the one who tried to set up an actual fight with another blogdog before your last timeout from the blog? Hahaha
_____

Not only sophisticated, and a UFC champion – but super smart too!

Hey, if you want to know how smart Tater is – just ask him! Hahaha!!
———————————
Smart enough that I don’t need to find a cheap way to heat my house in the sticks.

#176 Rothschild's Sewage and Septic Sucking/Blowing Services on 10.01.19 at 1:10 pm

“He has explained this at length.”

Lengthy explanations are NEVER required for claims on a truthful person’s résumé. “Here’s the proof,” — three simple syllables.

#177 NoName on 10.01.19 at 1:42 pm

#166 lawboy on 10.01.19 at 11:49 am
The Eric Grenier’s CBC poll tracker is bullXXXX, just like Nate Silver’s was in the U.S. in 2016.

Angus Reid has a study out today of voting intentions in the ‘close’ races of 2015 (decided by less than 5%). In about 3 dozen where the Libs won by less than 5%, and where the Lib vote surpassed the Con vote 41 to 30, the Lib vote is now 4% behind the Cons.

http://angusreid.org/election-2019-swing-ridings/

It is IMPOSSIBLE for the Libs, who currently have a narrow majority of about 6 seats, to win a majority given these intentions. But the CBC says there is a nearly 40% chance. Ok then. Must be based on faith not data.

Looks like no one can claim a likely majority right now but that will change, and either Libs come back, or Cons move up a bit more and win majority.

You might be n to something here , i was conducting “scientific” experiment over a last few days and
28th – to now to exact, and here is will share my observation.

I subscribe to blue and red, but not to green and orange, so every so often i would recieve an email or two for blue or red.

Some time ago i noticed that blue is in spam folder but not red, idont remember flagging it as a spam, so i checked it and its not there its algo that place blue emails in spam. all the time even one that came yesterday, but red ist, i guess computer algos dont blue banners in emails.

Also what i noticed since 28th that on 1 blue email ill recive 3+ red email,. now i am wondering are they starting to panic or is maybe someting else. red they seem to aks for money more often than blue.

Lickily i am not scientist, making conclusion on 16 data pints and 3 of them are in spam is just wrong, but maybe someone smarter than i can help me with this.

#178 leebow on 10.01.19 at 1:56 pm

#174 Penny Henny

It’s money earned abroad that eventually will be spent in Canada. What not to like about it? Any type of saving and investment should be encouraged. Mindless consumption should be discouraged.

#179 Mary Contrary on 10.01.19 at 2:00 pm

Mr Turner

I have seen this mentioned here before and you seemed to me tomhave shrugged it off.

https://news.gallup.com/poll/267143/universal-basic-income-favored-canada-not.aspx

THIS is a great threat to people who have saved and lived within their means.

Once “Basic Income” is put into place, OAS and CPP will be shut down in favour of “basic Income”. In other words, no CCP or OAS, instead you get a “Basic Income”.
Of course, Basic Income will be allotted only to those whose income is low (pick a number)

Sooooo…retirees who are currently collecting OAS and CPP and who also have passive income (RRSPs) will be deemed to be making too much money to receive basic income.

Voila…a TAX on those with RRSP holdings!

Told ya… too much money in RRSP holdings for the vultures to leave be.

You REALLY need to talk about this before it is too late!

Indeed it might already be too late.

The Social Justice Warriors already LOVE Basic Income. They don’t realize it’s just a tax in SJW clothing.

#180 expat on 10.01.19 at 2:16 pm

134 MF

100 billion during his term sunshine…

who is the self righteous one?

Look in mirror

You are a sarcastic ass

#181 Saudi Oil Pool on 10.01.19 at 2:25 pm

This has been overstated, and Iran has much larger reserves. Saudi must pump in huge amounts of water to bring its oil up. 50% of its oil is now being used to produce hydro power especially for air condition. Saudi is in budget trouble, and cannot finance the thousands of royal family members like before. Do not buy the upcoming stock offering because its a gamble, and Saudi is slowly going broke.

#182 Sail Away on 10.01.19 at 2:46 pm

#157 IHCTD9 on 10.01.19 at 11:37 am
#145 Tater on 10.01.19 at 9:49

Not only sophisticated, and a UFC champion – but super smart too!

Hey, if you want to know how smart Tater is – just ask him! Hahaha!!
———————————
Smart enough that I don’t need to find a cheap way to heat my house in the sticks.

————————

Oh wow, that took a lot of thought. Well, I’ve had fun laughing at you, Tater, but wouldn’t mind moving on from it now. Try being nicer maybe?

#183 crazyfox on 10.01.19 at 2:51 pm

Anthony Scaramucci has been on my radar for a while. he’s a Republican, he’s market connected, he defends himself well, has a good sense of humor and does well with finding the good in people (its a gift). And, he’s been highly vocal against Trump in the last month. note what Scaramucci says about Trump’s economic and foreign policy…

https://www.youtube.com/watch?v=mlC814D_dsI

… and square that with Scheer’s platform of promises which are Trumpian:

https://www.msn.com/en-ca/news/elections/scheer-would-cut-foreign-aid-by-25percent-re-invest-savings-in-tax-cuts/ar-AAI77rl?li=AAggNb9&ocid=ACERDHP17

Scheer’s foreign policy and diplomatic policy mirrors that of Trump’s. The problem with policy that shrinks foreign aid through cherry picking nations that you don’t favor is that it hurts Canada’s international reputation and and therefore, ability to invest and develop projects abroad hurting us economically in the medium and long term. It’s bad for business!

A clip from the link: “The Conservatives, if elected, have said they would move Canada’s embassy in Israel to Jerusalem, provide weapons to Ukraine and ask the United States about joining its ballistic-missile defense program (put your weapons of mass destruction here, we’re good with it).

They would also re-open an office of religious freedom set up by former Conservative prime minister Stephen Harper and later closed by Liberal government. (closed because it was a touch too anti-Muslim)

It makes you wonder what’s on the laundry list of Canadian giveaways too “insensitive” too be made public, with a government ruled by a lawless, traitorous nut?

What’s Scheer’s economic plan? “Lets take our talking points from the Trump administration and all will be well.” Btw, have I mentioned the immorally lawless Trump train crashing and burning before our eyes as of late? This is Scheer’s playbook, be a Trump mini me? In what world is this logical to Canadians with a brain…

#184 Jackie Karn on 10.01.19 at 2:57 pm

Mary Contrary, I hate socialism and UBI, welfare and every government free money crap they think up. I know it how it ends like many time in history, it is a disaster.

I would say to the young like millenials and other young to older Canadians, getting only $1,000 or $2,000 or $3,000 a month is peanuts. Why do the Liberals, NDP, Green Party and other progressive(new disguised for socialists), this is all they think you are worth, ask for $1 million or $2 million in one lump sum or one time large payment.

Then when all our money is worthless see how free your government crap called Canadian Dollars are worth. Now you know why our education system is publicly funded because it is not worth the diploma or degree it is written on. It is good as toilet paper.

#185 Sail Away on 10.01.19 at 3:11 pm

#168 Ace Goodheart on 10.01.19 at 12:12 pm

Interesting comments on child-rearing and work on this blog today.

I am currently co-raising a 16 month old. They require 24 hour care. They wake up in the middle of the night, and stay awake (and crying) until you figure out what is wrong with them. If they are sick, they will not sleep for days. Neither will you.

The other problem you find, with children under age 3, is that they really don’t work well with the requirements of a salaried job work schedule.

The Canadian job situation really does not, at all, take into account how much time is required to be a parent. And does not, at all, understand the hourly requirements of child rearing. It just does not.

Now that men are also being parents, this is becoming more well known. Back when it was mostly women raising children, they were just told “a woman’s place is in the home” and that was the end of it. No one expected them to work or have careers anyway.

———————————

Yes, kids under 5 are a lot of work. It would be much better if they popped out walking and talking like chickens and ducks. Good luck. It gets easier.

#186 conan on 10.01.19 at 3:11 pm

“But the CBC says there is a nearly 40% chance. Ok then. Must be based on faith not data.” -Lawboy

Its based on the cold hard reality that “many” NDP and Green voters intend to vote Liberal if it will stop the Conservatives from winning in their riding.

IMHO its worth + 5% support

#187 Penny Henny on 10.01.19 at 3:16 pm

#178 leebow on 10.01.19 at 1:56 pm
#174 Penny Henny

It’s money earned abroad that eventually will be spent in Canada. What not to like about it? Any type of saving and investment should be encouraged. Mindless consumption should be discouraged.
///////////////////

leebow you remind me of Trudeau for not answering the direct question.
-What about foreign stock that does not trade on Canadian exchanges and does no business in Canada (thus not contributing to our GDP). Should we as investors demand reduced taxes on the capital gains from these holdings?

#188 crowdedelevatorfartz on 10.01.19 at 3:20 pm

@MF
Occupy Wall St.

Yeah, and that lasted how long?
About as long as the average voters attention span.

Just keeeeeep voting for those deficit budgets year after year.
Kick the debt bomb down the road for your kids.

Sound familiar Mr Smug?
Its what you Mils have been blaming the big bad boomers for for at least a decade.

Millenials and Boomers…..exact same coin…..different sides.

#189 James on 10.01.19 at 3:28 pm

#183 crazyfox on 10.01.19 at 2:51 pm

Anthony Scaramucci has been on my radar for a while. he’s a Republican, he’s market connected, he defends himself well, has a good sense of humor and does well with finding the good in people (its a gift). And, he’s been highly vocal against Trump in the last month. note what Scaramucci says about Trump’s economic and foreign policy…

https://www.youtube.com/watch?v=mlC814D_dsI

… and square that with Scheer’s platform of promises which are Trumpian:

https://www.msn.com/en-ca/news/elections/scheer-would-cut-foreign-aid-by-25percent-re-invest-savings-in-tax-cuts/ar-AAI77rl?li=AAggNb9&ocid=ACERDHP17

Scheer’s foreign policy and diplomatic policy mirrors that of Trump’s. The problem with policy that shrinks foreign aid through cherry picking nations that you don’t favor is that it hurts Canada’s international reputation and and therefore, ability to invest and develop projects abroad hurting us economically in the medium and long term. It’s bad for business!

A clip from the link: “The Conservatives, if elected, have said they would move Canada’s embassy in Israel to Jerusalem, provide weapons to Ukraine and ask the United States about joining its ballistic-missile defense program (put your weapons of mass destruction here, we’re good with it).

They would also re-open an office of religious freedom set up by former Conservative prime minister Stephen Harper and later closed by Liberal government. (closed because it was a touch too anti-Muslim)

It makes you wonder what’s on the laundry list of Canadian giveaways too “insensitive” too be made public, with a government ruled by a lawless, traitorous nut?

What’s Scheer’s economic plan? “Lets take our talking points from the Trump administration and all will be well.” Btw, have I mentioned the immorally lawless Trump train crashing and burning before our eyes as of late? This is Scheer’s playbook, be a Trump mini me? In what world is this logical to Canadians with a brain…
_________________________________________
So how is our debt looking so far Mr Fox?
Mr Socks said it will balance itself?
While T2 has been dancing the Bangalore in Indian robes, shiving us with the SNC debacle and menacing any woman (JWR) that has more balls than he could ever muster to stand up for what is right and moral. Oh did I forget his fallacy with blackface over the last twenty years? WTF is that all about anyway. So don’t blow BS up my ass about Sheers plans when T2 the black faced clown can balance his own budget at home. He can’t even count to 10 without crying that its Stephan Harper’s fault about everything bad in the old days. T2 says that he is the people pleaser. He should go back to teaching drama in a high school. He appears to be quite good at drama. But this is the real word and Mr Socks has never worked a day in his life like the rest of us. He is an entitled little bitch.

#190 The Next Election on 10.01.19 at 3:30 pm

This election is filled with woes of biblical proportions that defy logic and critical thought like never before. I frankly don’t care for any of these leaders in the race, because who would even want the job? Canada will never be the same no matter who wins, and the what can be done about it by voting? It appears the vote will be split among the game players. I say vote for the one who will do the less further in damages in hope a deal can be made with compromise together with the smaller players. A coalition based upon common grounds and a meeting of the minds on issues. We should know who has to go by now, unless you want more of the same.

#191 Mars on 10.01.19 at 3:35 pm

Looks like NDP could be king maker

https://trends.google.com/trends/explore?date=today%203-m&geo=CA&q=%2Fm%2F0136kr,Conservative%20Party%20of%20Canada,%2Fm%2F0f9b7

#192 Spiltbongwater on 10.01.19 at 3:41 pm

Sitting in Manila airport the other day waiting to board return flight to YVR. My Mother in law holding my infant son talking with another Filipino family. They start talking about Child Care Benefit how their grandchildren get $500 per month. My Mother in law is nearly in tears when she says our son only gets $93 monthly. The other couple says, wow your kids must earn alot. Not really earn alot, just work alot and don’t spend alot. Guess our sociaty is in a race to the bottom to earn as little as possible and get government welfare to pay for everything.

#193 crazyfox on 10.01.19 at 3:56 pm

Ah… elections. Sometimes you just gotta hold on:

http://www.songlyrics.com/ana-popovic/hold-on-lyrics/

https://www.youtube.com/watch?v=A-uV9nRNkcI

https://www.youtube.com/watch?v=Tad7VR3faCU&list=RDeg-cug3vsPs&index=16

https://www.youtube.com/watch?v=eg-cug3vsPs

#194 NoName on 10.01.19 at 4:01 pm

Interesting read

https://www-forbes-com.cdn.ampproject.org/v/s/www.forbes.com/sites/rogerpielke/2019/09/30/net-zero-carbon-dioxide-emissions-by-2050-requires-a-new-nuclear-power-plant-every-day/amp/?usqp=mq331AQCKAE%3D&amp_js_v=0.1#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s

#195 SoggyShorts on 10.01.19 at 4:40 pm

#192 Spiltbongwater on 10.01.19 at 3:41 pm
Sitting in Manila airport the other day waiting to board return flight to YVR. My Mother in law holding my infant son talking with another Filipino family. They start talking about Child Care Benefit how their grandchildren get $500 per month. My Mother in law is nearly in tears when she says our son only gets $93 monthly. The other couple says, wow your kids must earn alot. Not really earn alot, just work alot and don’t spend alot. Guess our sociaty is in a race to the bottom to earn as little as possible and get government welfare to pay for everything.
*************************************
This is going to sound pretty harsh, but…
Just to be clear: You are flying back and forth to the Philippines and your MiL is literally crying about how little money the government is paying you for not wearing a condom?

#196 Bruce Allen on 10.01.19 at 5:37 pm

The West is finished. Politically, economically, socially, morally, we are BANKRUPT. What a cesspit of filth and corruption this nation has become. All three of the main parties are insane, our leaders are all lunatics leading us to the final slaughter. God HELP this rotten world. I’ve given up on this wicked system of things.

#197 David Hawke on 10.02.19 at 8:57 am

#173 Clinker Problem

Not true as unless the husk of the corn kernel is broken down by pelletizing you will Always have a clinker!

#198 David on 10.02.19 at 11:27 am

Consider charitable donations as a form of tax avoidance. If you give shares which have accrued in value you’ll avoid the capital gains tax and will get a tax receipt for the full market value of the shares at the time you give them. You’ll still be out of pocket a little (over what you would have received if you simply sold the shares and paid the capital gains tax) but you’ll be able to control where your money is spent and not have to let irresponsible politicians decide.

#199 Norman on 10.02.19 at 11:32 am

The one thing that matters most is jobs, jobs and more jobs. This election is going to cause job losses. I think the world is headed for negative interest rates to solve the debt problem unless the bond vigilantes rise up.

#200 Barb on 10.02.19 at 3:05 pm

T2 is single-handedly creating the recession.
Abject fool that he is.