Here we go…

This may be dangerous, but no guts, no glory. Let’s make some assumptions about you, the hapless, addicted readers of this pathetic, athletic blog.

You’re no socialist. You want taxes lower, not higher. The trade-off may be less from government. Not a problem. You favour ending deficits, controlled spending in Ottawa, no debt balloon. You don’t hate people with small businesses. You think a top tax bracket of 53% is high enough. Rich people aren’t evil. The climate may need fixing, but you’re not sure civil servants are the ones to do it. And why are we giving money to people to buy houses when that just makes them cost more?

That sum it up? Good.

So, who do you vote for? Let’s review what the major parties would do to your personal finances (and your nation).

The Dippers

Disaster, actually. Rampant federal spending and endless deficits, according to Jag. ‘Rich’ people would see Canada’s first wealth tax brought into being – a 1% annual levy on all assets, personal, business and real estate. This would raise billions, but also lead to accountants and tax lawyers entering a golden age. The likely result would be higher income tax brackets to make up the difference and, most consequentially, a big change to capital gains tax.

Currently 50% of the increased value in financial assets (stocks, ETFs, bonds, rental real estate) as well as cottages and businesses is included in personal income and taxed at the marginal rate. So the most anyone pays is about 26% of the capital gain. The Dippers would jump the inclusion rate to 75%, increasing the tax take by half. Ouch. You can imagine the impact this would have on anyone with a non-registered retirement portfolio, or transferring ownership of the family cabin.

Regarding real estate, the socialists would impose a 15% tax on Chinese dudes (on top of the existing 15-20% taxes) and allow 30-year mortgages. Plus all new home buyers would get a pony. Your choice of color.

The Libs

If you liked the last four years of increased spending, more government and the crawl towards cradle-to-grave nurturing, you’ll love the new agenda. More money to parents to finance babies, more paid parental leave, more people removed from the tax rolls, more CPP paid to survivors, more OAS paid to 75+ wrinklies, and free money to moisters for their epic mortgages.

All that comes with a big pricetag. Deficits of at least $90 billion over four years, which will increase the national debt by about 12% – a massive amount over a single term of government. To help pay for that the Trudeau gang will bring in a 10% ‘luxury’ tax on stuff costing more than $100,000, including cars, boats and RVs. Also likely is some diddling with dividends and capital gains taxes (that was in the 2015 platform) and maybe another assault on entrepreneurs, docs and others with incorporations. If the economy slides into a recession, or interest rates rise a little, the river of red ink could become an ocean. When everybody gets a prize for showing up, the money soon runs out. Who knew?

The Tories

At every stop now the prime minister lumps Andrew Scheer in with “Doug Ford, Stephen Harper and Jason Kenney”. Oh yeah, and Trump. The message is clear. Be afraid of cons and cuts.

Actually the Conservatives are planning deficits, too. But only for a couple of years, then spending will match revenues. They will also cut taxes, but more broadly, and bring in credits for families and transit users, while providing tax-free maternity/paternity benefits and money to make houses more energy-efficient. Foreign aid will be hacked 25% but no mention of chops to social programs.

Conservatives would end the carbon tax and also reverse the ban on income-splitting for small business owners which came into effect last year. Then entrepreneurial couples could share dividends as they did in the past. Scheer would unwisely gut the mortgage stress test and (like the NDP) bring back 30-year amortizations. Both, of course, would make real estate cost more.

Meanwhile Greens & the Max Party are irrelevant. Liz will have a couple of MPs and no influence. PPC will be a one-man party. The morning of October 22nd could bring a minority government, red or blue (even tied), and in the days after, possibly a coalition. Tories and the Bloc could coalesce, which would be odd.  Or the Libs and NDP might join. God help us.

‘Through kids, divorce, moving, career…’

NewWest, a poster here, was in touch yesterday. “I know that GreaterFool is usually a Dog Blog, but my good cat Toby passed on to Cat Paradise yesterday and I thought I’d send a picture of him helping me read the blog and making important investment decisions,” she writes. “He was my faithful companion and familiar for nineteen years, through kids, divorce, moving, career change – I knew him longer than most people in my life – and just sending this email is a fitting memorial somehow. Toby made my days so much better, even at the very end when old age finally came and he couldn’t jump up on my desk any more to lie on the keyboard. He died at home, on his favourite blanket, lying in the sun, a peaceful end for which I am grateful.

“It still surprises me how eight pounds of fur, mystery and complete confidence could make such an impact on my life, but he did. I miss him.”

RIP, Toby.

162 comments ↓

#1 jess on 10.15.19 at 3:05 pm

profit shifting
Overhaul comes amid rise of hugely profitable digital companies that minimise their tax bill by setting up offices in low-tax jurisdictions
https://www.independent.co.uk/news/business/news/facebook-tax-bill-uk-money-profit-a9152616.html

#2 NotLegalAdvice on 10.15.19 at 3:08 pm

Perhaps a minority government is what we need. There doesn’t seem to be any party leader that I can see myself supporting during this election.

FIRST?

#3 NotLegalAdvice on 10.15.19 at 3:09 pm

I’m sorry for your loss NewWest.

#4 Dean Masterson on 10.15.19 at 3:14 pm

You forgot to mention Bank of Canada replacing cash for digital $. If you think we are slaves now get ready for a collar like Star Trek and then a chip too.

Make jokes now but the days of having some freedom, privacy are over and i feel so sorry for future generations. Technology is ultimately the best tools of all our masters have to control us.

Reality bites and enjoy calling me whatever names you like but time will tell ultimately where people end up. Thy will learn the real problems that they could never believe could happen 20 years ago will be their ultimate nightmare turned to reality.

#5 Coastal Zapper on 10.15.19 at 3:14 pm

That summed it up!!

Voted Sunday for the party leader not local candidate. As you pointed out in an early blog post, it’s run by one person, toe the line or your out.

I’m hoping he was lying and when gets in says “things are worse than we imagined and we won’t be able to keep our promises”

#6 Polozified on 10.15.19 at 3:16 pm

A Conservative minority govt where nobody gets to do what they want is the way to go.

Make it happen, blog dogs.

#7 LP on 10.15.19 at 3:19 pm

Hi NewWest

I too am sorry for Toby’s passing. I love cats too, as well as dogs. The thing with cats is that you always can be certain of their view of things. They don’t just tell you what you want to hear, unlike most dogs. My late husband always said I was very like our cat in that way, but I don’t think he meant it as a compliment.

#8 James on 10.15.19 at 3:28 pm

So it is clear to me on Monday I can go for the Cons even though I live downtown in Toronto where Liberals are everywhere, garbage cans, and dumpsters, in the sewer, hanging out with rats, generally being bothersome and covetous of our hard working ethics so they may callously squander our hard fought monetary gains on a new pig trough. My vote may not count but I will vote never the less. At the very least I am hoping to send a message to T2 and his cronies to piss off. If they win in my riding I hope they only scrape by with a fraction of a percentage just to show them that not all of us are satisfied with their actions or inactions on Liberal politics. All I can hope for is that the rest of the country outside of the Metro area has their shit together and have had enough of T2 and his blatant lying. They could tip the scales. My cousin in Alberta says T2 is dead out west but despondently they may not have the bulk to pull a Con win. My friend I Montreal says it’s Bloc, Lib, some Con and a few NDP but he says Quebec is another country and they are not ready for Singh. Yoiks I’m glad I don’t live in PQ! He said Elizabeth May couldn’t make any inroads their as they just don’t care about her and her eco ramblings. He said Quebec is already the greenest province so she can piss off! Anyway all of the ads the Liberals have spouted lately are trying to glue Andrew Scheer directly to Doug Ford and Stephan Harper. I’m sick of them, first Doug Ford is provincial and Stephan Harper isn’t running and hasn’t for four years so tell me something new? I can tell you that Trudeau has pretty much destroyed our economy as far as an exporter, raised our taxes and provided no meaningful jobs during a most opportune time where the US economy was booming. We could have taken much better control of hitching a ride on this train and T2 blew it with the USA and China.

RIP Kitty my dog will miss chasing you.

#9 A penny is a penny is a penny on 10.15.19 at 3:28 pm

Commie Kanada here we come… brutal election.

#10 Sail away on 10.15.19 at 3:29 pm

“You’re no socialist. You want taxes lower, not higher. The trade-off may be less from government. Not a problem. You favour ending deficits, controlled spending in Ottawa, no debt balloon. You don’t hate people with small businesses. You think a top tax bracket of 53% is high enough. Rich people aren’t evil. The climate may need fixing, but you’re not sure civil servants are the ones to do it. And why are we giving money to people to buy houses when that just makes them cost more?”

————————————–

Wow- that could be my Tinder profile… plus six-pack abs, of course. You’re good.

#11 SharkTank on 10.15.19 at 3:49 pm

Peace treaty now! Cats and Dogs must cooperate! No more war!

#12 SharkTank on 10.15.19 at 3:53 pm

Also as a native Lethbian I love the picture of the Lethbridge Viaduct in the background of the picture Garth

#13 Ponzius Pilatus on 10.15.19 at 3:53 pm

A pony in every garage.
I always wanted a pony.
But the Jag is just talking the talk.
So, I’ll pass this time.

#14 Dave on 10.15.19 at 3:54 pm

Everyone I know in Vancouver is poor because Real Estate is soooooo expensive – something has to change drastically so the next generation is not in life long mortgage for a 500 sf apartment.

Liberals is sadly my only option

#15 jess on 10.15.19 at 3:54 pm

Does the OECD’s Common Reporting Standard (CRS) for automatic exchange of information solve the secrecy?

Cum-Ex scandal
Odebrecht, Latin America’s largest construction group, managed to buy its own bank to undertake the global corruption scheme.
neither the public nor the authorities have a full picture of all existing financial assets and who ultimately owns them, let alone whether they are paying the corresponding taxes or whether they are part of money laundering schemes.

This paper is set to start the conversation about what needs to be done to increase transparency in this highly relevant industry forgotten until now by beneficial ownership transparency.

https://www.taxjustice.net/2019/10/09/the-quadrillion-dollar-elephant-in-the-room-beneficial-ownership-in-the-investment-industry/

#16 James on 10.15.19 at 3:55 pm

While President Donald Trump welcomes the 2019 Stanley Cup Champions “the St. Louis Blues”, at the White House Rose Garden for a photo op Vladmir Putin and the pro-Moscow Assad government have opportunistically forged a new alliance with US-abandoned Kurds over the weekend.
Hmmm who would have guessed that would happen? Trump has pretty much handed the area over to the Russians. Their Russian police are already on the ground at the border.

What a dick Trump is! Now the United States will forever be known as the country no one can EVER TRUST!
Not that they haven’t done this before but wow talk about selling out your friends to the enemy. Trump has blow the credibility or what little credibility the USA had to pieces. Who will ever go to bat with the US now in any military incursion.

#17 Linda on 10.15.19 at 3:57 pm

‘NewWest’ condolences. Always difficult to say goodbye to a fur friend.

The proposed Liberal ‘luxury’ tax. That would not apply to housing? Because most places cost more than $100,000K, even in the boonies far away from the overheated GTA/YVR markets.

Hope everyone votes, will be interesting to see the outcome. Could be fun to watch ‘alliances’ between various political parties as they maneuver for power should a minority government ensue. Also will be fun to watch the outcry if Mad Max ends up with more than a single seat in parliament – Mon Dieu!

#18 Unicorns n ponies for all on 10.15.19 at 4:00 pm

“I hate anyone who ever had a pony growing up!” – …
“I didn’t know she had a pony. …

#19 Ponzius Pilatus on 10.15.19 at 4:00 pm

Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.

#20 Heregoesnothing on 10.15.19 at 4:08 pm

Rest in peace, Toby! <3!

#21 James on 10.15.19 at 4:13 pm

#95 Smoking Man on 10.13.19 at 2:34 am
Wasted in lost Vegas again…
On the wife’s tab this time… she is a great forex student..
She booked 4 rooms for my tax farm palls.
400 to 1 margin Mastered.
I’m a genius…… I really am…
Fk Communism..
___________________________________________
Jesus I missed this one.
So what you are saying essentially is that your wife is making all of the money on a bang up program that you devised and further that you elect to slog to work every day over on Newport Centre Drive while she clicks her mouse while filing her nails? Sure Old Man, sure. If I created a money making program I sure as hell would be running it myself and not broadcasting it on social media.
BTW: Columbus Day is on Monday not Sunday and it is akin to saying Happy Día de los Muertos on Nov 1st in any other country than Mexico. Who cares Old Man we do not celebrate Columbus Day here and Columbus never set foot in North America but he did lead the way for indigenous peoples all over the continent to be wiped out!

#22 Shawn Allen on 10.15.19 at 4:14 pm

Tories and Liberal neck and neck?

#92 Damifino on 10.15.19 at 2:06 pm said:

338Canada is currently showing the greatest likelihood that the Liberals and Conservatives will get about 135 seats each.

***************************************
Pierre Trudeau’s second election as PM was 1972. He had won in a landslide his first term.

This was the first election I took an interest in. I was 12 and rooted for Nova Scotia’s own Robert Stanfield.

On election night it was a virtual tie. I believe 108 to 108 (fewer seats back then). When the dust settled in the morning I recall the seat count was 109 to 107. Trudeau stayed in power and formed I believe an actual coalition with the NDP.

Sounds like we could be in for something close to a repeat. Trudeau mania followed by disenchantment.

#23 LP on 10.15.19 at 4:14 pm

#12 SharkTank on 10.15.19 at 3:53 pm
Also as a native Lethbian I love the picture of the Lethbridge Viaduct in the background of the picture Garth

Until I read your whole post I thought you had a lisp.

#24 RWZM on 10.15.19 at 4:17 pm

“And why are we giving money to people to buy houses when that just makes them cost more?”

Never seen it so succinct.

Can someone please ask this question at a press conference. It’s been a decade and I deserve to see a politician coming up with something to say to this.

#25 Tbone on 10.15.19 at 4:17 pm

While I was at the library voting early on Friday I ran into a neighbour
And I joked that the ndp just announced free ponies for everybody .
We agreed not to vote ndp until we get a free car .

#26 Sail away on 10.15.19 at 4:17 pm

#16 James on 10.15.19 at 3:55 pm

Vladmir Putin and the pro-Moscow Assad government have opportunistically forged a new alliance with US-abandoned Kurds over the weekend.

Now the United States will forever be known as the country no one can EVER TRUST!

Who will ever go to bat with the US now in any military incursion.

————————————-

yawn… oh well… It’s not as if this was some sort of surprise- the plan’s been in place for 3 years. Kudos to the US for helping eliminate ISIS. Now it’s someone else’s turn.

Maybe the best plan is the US doesn’t make any more military incursions, so no help needed.

Outrage is a valuable and finite resource which quickly decays to apathy. I’d recommend saving your outrage for something that affects you personally, or at least something you could have even the slightest influence over.

#27 Ponzius Pilatus on 10.15.19 at 4:19 pm

#12
Native Lethbian?

#28 PastThePeak on 10.15.19 at 4:25 pm

Already voted…sorry Justin and Jag…

#29 IHCTD9 on 10.15.19 at 4:27 pm

#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!

#30 Bt on 10.15.19 at 4:29 pm

What’s your opinion on strategic voting?

#31 Sail away on 10.15.19 at 4:31 pm

#12 SharkTank on 10.15.19 at 3:53 pm

Also as a native Lethbian I love the picture of the Lethbridge Viaduct in the background of the picture Garth

——————————–

Is being a Lethbian a choice? Can someone be forced to be a Lethbian? Can a Lethbian marry anyone, or only another Lethbian? Do Lethbians automatically recognize one another in public? Do you introduce yourself as a “Lethbian Canadian”? Is six Lethbians too many to invite to a party? Does anyone introduce you as, “Shark Tank, the Lethbian- not that there’s anything wrong with that, of course.”?

So many questions…

#32 Yuus bin Haad on 10.15.19 at 4:36 pm

I don’t think you can have it both ways: if Max is a vote-splitter, he’s not irrelevant

Relevance as a vote-splitter does not beget Parliamentary relevance. – Garth

#33 JSS on 10.15.19 at 4:47 pm

Why settle for a pony when you can have a Jag?

;)

#34 Ponzius Pilatus on 10.15.19 at 4:49 pm

#29 IHCTD9 on 10.15.19 at 4:27 pm
#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!
————
Well, the favour would cost you.
My roof needs fixing.
We got a deal?

#35 conan on 10.15.19 at 4:52 pm

#16 James on 10.15.19 at 3:55 pm

It took the Kurds a day to get a deal that can’t be done in a day. In less than 24 hours, the new dynamic is;
Syria and the Kurds, plus Russian air and anti air power, versus the Turks, who did not bring enough army.

The big reveal is that Turkey and the USA have had a long standing nuclear bomb move/dispose/or give to us problem.
The EU just banned all arms sales to Turkey and the US just placed a prohibitive tariff on Turkish Steel.

The World watches Syria but the problem right now is Turkey.

Surprise!!

#36 AGuyInVancouver on 10.15.19 at 4:58 pm

“..Rampant federal spending and endless deficits..”
_ _ _

Hey, that sounds like the conservative GOP government of the USA!

#37 The Wet One on 10.15.19 at 5:01 pm

Respecting Toby, sic transit gloria mundi.

A good buddy like that is hard to find.

Dang. Maybe I should get a cat.

Or a dog.

Hmmm…

#38 the Jaguar on 10.15.19 at 5:05 pm

Garth:
How is Scheer going to gut the stress test when it sprang from OSFI loins ( omg what a thought) and people like Evan Siddall favour its retention? The scrutiny of any pressure by an elected government after the Jody debacle would be unattractive.

Toby was a treasure. Soulful eyes and very respectable whiskers.

#39 Ian on 10.15.19 at 5:06 pm

Godspeed Toby!

#40 yvr_lurker on 10.15.19 at 5:09 pm

Thank you for explaining so clearly without any bias (sarcastic…) my options. As much as I personally dislike Trudeau, he is a mouthpiece and not the brains behind their policy. Will get off the couch to vote Liberal again. Anything but the Tories…

#41 Bob on 10.15.19 at 5:10 pm

Cats are OK too….

#42 Glad to see ... on 10.15.19 at 5:10 pm

the mountie is packing a Model94. Wonder what’s in the holster?

#43 Sovavia on 10.15.19 at 5:12 pm

(1) Wealth taxes are the most efficient taxes and consumption taxes the second least worst.

(a) Wealth taxes on real estate should be progressive: the more real estate you own, the higher the rate should be.

(b) Raise the GST.

(c) Then, you can cut taxes on income, which are the least efficient ones, and productivity growth will rise.

(2) Government deficits increase corporate profits: US fiscal deficits are propping up demand. Deficits do not matter when nominal economic growth is higher than long-term borrowing costs.

(3) The misguided obsession with fiscal deficits was one of the reasons why there was a Canadian real estate bubble.

#44 CEW9 on 10.15.19 at 5:27 pm

Good post.

A minor footnote:

Even if the Con’s win a minority, tradition has been that the incumbent party (currently Liberals) has the first crack at forming a government with potential backing of another party (in this case NDP).

Sadly the worst case scenario seems the most likely. May it be short-lived.

* * *

Toby looks like a good one. Sorry for your loss. Hope he’s out chasing mice on the happy hunting grounds.

#45 Niagara Region on 10.15.19 at 5:27 pm

This new book on the 2008 American housing crash might interest folks: Aaron Glantz, “Homewreckers: How Wall Street, Banks & Trump’s Inner Circle Used the 2008 Housing Crash to get Rich” (Glantz is a Pulitzer Prize winning journalist). For an abbreviated version, see an extended interview with Glantz at http://www.democracynow.org. (Search for the Oct. 15, 2019 broadcast.)

#46 Remembrancer on 10.15.19 at 5:28 pm

#42 Glad to see … on 10.15.19 at 5:10 pm
the mountie is packing a Model94. Wonder what’s in the holster?
—————————-
Hopefully the Colt .445 and not the Enfield…

#47 John Brydle on 10.15.19 at 5:28 pm

Rip Toby
I share your sorrow.

#48 Sail away on 10.15.19 at 5:29 pm

#35 conan on 10.15.19 at 4:52 pm
#16 James on 10.15.19 at 3:55 pm

The World watches Syria but the problem right now is Turkey.

————————————

If you decided to walk from Ottawa to Turkey, at 25km a day, assuming you could walk on water, it would take 346 days.

Why are we interested in Turkey again? Is Canada doing something there?

Maybe we should send Chrystia Freeland to lecture the region with an officious and sanctimonious speech?

There must be one or two Canadian trading partners she has yet to offend.

#49 PeterfromCalgary on 10.15.19 at 5:35 pm

A vote for the PPC is a wasted vote.

A vote for Jag is a vote for a economic decline.

A vote for Trudeau is a vote for corruption, slower economic decline and Canada’s first blackface Prime Minister.

A vote for Scheer is a vote for prosperity, regional peace and no blackface.

#50 IHCTD9 on 10.15.19 at 5:35 pm

#34 Ponzius Pilatus on 10.15.19 at 4:49 pm
#29 IHCTD9 on 10.15.19 at 4:27 pm
#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!
————

Well, the favour would cost you.
My roof needs fixing.
We got a deal?
——

Deal.

You vote for T2, and I’ll teach you how to shingle your own roof!

#51 jess on 10.15.19 at 5:35 pm

CALGARY — A company linked to American investment guru Warren Buffett says it will break ground on a $200-million, 117.6-megawatt wind farm in southeastern Alberta next year.

In a news release, Calgary-based BHE Canada, a subsidiary of Buffett’s Berkshire Hathaway Energy, says its Rattlesnake Ridge Wind project will be located southwest of Medicine Hat and will produce enough energy to supply the equivalent of 79,000 homes.

Berkshire Hathaway Energy also owns AltaLink, the regulated transmission company which supplies electricity to more than 85 per cent of the Alberta population.

https://www.msn.com/en-ca/money/topstories/berkshire-hathaway-firm-announces-launch-of-dollar200-million-alberta-wind-power-farm/ar-AAIOXGP?li=AAgh0dA

#52 Bob on 10.15.19 at 5:41 pm

Interesting assumptions. They’re pretty close actually, but off on a couple of points.

First, I think we should raise taxes and cut tax expenditures. I have no idea if a 53% top income bracket is “too high,” but the notion that we are “over taxed” is a fiction. We should raise tax rates high enough to balance the books with a modest surplus. As we free up income through debt reduction, then we can reward ourselves with tax cuts.

Yeah, I know everyone’s sure that government is full of “waste” we can simply strip away, but those same people scream bloody murder when you suggest cutting their entitlements.

Second, civil servants may not be the “right” ones to fix the climate, but there’s no one else. This problem requires collective action, and that means government.

#53 Smartalox on 10.15.19 at 5:42 pm

Already voted on Friday. In the end it came down not to party, but a vote to re-elect the MP in my riding. By far, that person was the most professionally accomplished, and has demonstrated their capability in Ottawa. I was proud to vote for them once, and saw no reason not to do it again.

Only one other competitor was recognizable, and who had been a disappointing representative in a previous parliament. The other candidates did not appear on the campaign trail, much less make an impression.

#54 Tater on 10.15.19 at 5:50 pm

#29 IHCTD9 on 10.15.19 at 4:27 pm
#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!
———————————————-

par·a·site
noun
1.
an organism that lives in or on an organism of another species (its host) and benefits by deriving nutrients at the other’s expense.

#55 Smartalox on 10.15.19 at 5:54 pm

I did the maths to compare the Liberal and Conservative plans for income tax cuts:

– Liberals: raise the minimum tax bracket to $15,000 (up from $12 069)
– Conservatives: Lower the tax rate of the lowest tax bracket from 15% to 13.75%, but keep the minimum at $12,069.

The result? The Liberal plan put me ahead by $8.00 over the Conservative plan. Your results may vary.

I did wonder though, given Scheer’s dual citizenship status, if he would work to (finally) have TFSAs recognized by the same rules as Roth IRAs by the US IRS. I guess that he thinks that it will be easier to give up his US citizenship, so maybe we will never know.

#56 IHCTD9 on 10.15.19 at 5:56 pm

#38 the Jaguar on 10.15.19 at 5:05 pm

…when it sprang from OSFI loins (omg what a thought)
—— –

Ah, to be young again!

#57 Drill Baby Drill on 10.15.19 at 5:59 pm

If the PC’s are not part of the new government majority then there will be blood. Canada will begin it’s split.

#58 Damifino on 10.15.19 at 6:02 pm

#22 Shawn Allen

Pierre Trudeau’s second election as PM was 1972. He had won in a landslide his first term.
———————————–

Yes. And mine was one of the votes that contributed to Pierre’s landslide.

On June 25, 1968 I was only 17 and thus not eligible to vote. Or, so I thought. My father had voted early in the day and saw my name right below his on the scrutineer voter’s list. He told me my name was present and I should go and vote. I think I had to show only one piece of ID. Probably my social insurance card. There were no mail-out voter cards then.

Since I didn’t think I’d be voting, I hadn’t given it much thought, but ‘Trudeau-mania’ was all the rage among my peers so I marked the Liberal candidate.

My Dad couldn’t stand Trudeau and most certainly would have voted for Conservative Robert Stanfield. But he didn’t tell me how I should vote, only that I should do so. I sure he knew I’d probably vote Liberal.

I appreciate that now. He sent his son to cancel his own vote because it was more important that I exercise my privilege (which, by the way, he fought to defend in WWII). We had our differences, but there’s very few people left in this world like him.

I could go on, but I’ll save it for Veteran’s day.

#59 NewWest on 10.15.19 at 6:10 pm

Thanks for including my email about Toby in today’s blog, Garth, and thanks to everyone who posted condolences. Extra ear scritches to all the pets tonight, k?

NewWest

#60 Bob Dog on 10.15.19 at 6:22 pm

Its hard to believe any politician in Canada would associate themselves with the word “Conservative”. After watching the USA implode I would think everyone wants to avoid that path.

I have no problem with paying taxes so long as its not wasted on things such an expensive useless military. Also it would be nice if corporations and the super rich would also pay their equal share as a % of income or profit.

If you run a corporation, you are are pissed about taxes and want to leave the country there is good news. The government has 360,000 younger, smarter, better Canadians all queued up waiting to replace you. Amazon is itching to hire them since you can’t do the job.

I hear warren buffet is building a wind farm in Alberta. Funny how these successful business tycoons of the North are incapable of doing anything other than exploiting workers for profit.

#61 ALFRED E. NEUMAN on 10.15.19 at 6:23 pm

NewWest,

our most sincere condolences on your loss of dear Toby.

We here, too, have hugged and have held several aged pets as they began their journeys homeward to Heaven.

And we believe, with all sincerity, that they now await our own arrivals, to then reunite there.

For, at the end of our days, all that really matters in each our lives, is “to love and to be loved in return.”

You and Toby were blessed to have shared much love. And you shall, always.

Hugggss ..

#62 TurnerNation on 10.15.19 at 6:35 pm

Good evening Climate Changers.

I posted yest that with the new government still no new solar or wind will be built.
That’s right, the carbon tax is a scam.
Our elites NEVER allow us cheap energy, never ever.

What we see is gazillionare Warren Buffet stepping up money for turbines. We’ll pay record prices for this electricity no doubt. Carbon taxes added onto it, natch. You will even pay carbon taxes on green energy HAHA, Our elites roar with laughter. They got us.
This is not about the environment only about UN control, you’ll see soon enough.
More taxation, land use controls, controls on travel. This stuff is planed out years, decades in advance. Our little brains cannot fathom this depth of control.

https://www.cbc.ca/news/canada/calgary/wind-farm-warren-buffett-alberta-berkshire-hathaway-calgary-1.5321345

Warren Buffett-linked company to build $200M wind power farm in Alberta

#63 IHCTD9 on 10.15.19 at 6:35 pm

#54 Tater on 10.15.19 at 5:50 pm

par·a·site
noun
1.
an organism that lives in or on an organism of another species (its host) and benefits by deriving nutrients at the other’s expense.
————-

Send the hate mail to Trudeau Tater!

Here’s to T2, for another four (bank account stuffing) years in office :).

#64 David McDonald on 10.15.19 at 6:35 pm

I agree with everything you say and want to vote Tory BUT essentially their policy on climate change is to hope it will go away and their policy on gun violence is about the same.

#65 Maggie the Teck Writer on 10.15.19 at 6:43 pm

Saw the housing debate on October 6. The Liberal wiped the floor with the Conservative, who was ludicrous on homelessness.

Already voted. Go, Mr. Trudeau, and do the right thing for Canadians.

I don’t stand to benefit from any of the treats on offer, and I would benefit from the Tory cuts, in the short term. But my vote isn’t for sale.

#66 Katherine on 10.15.19 at 6:55 pm

RIP Toby. You are in kitty heaven with my beloved family tabby Myles who also passed away yesterday at home on his blanket. He only lived to 10 but had lived with stage 4 kidney disease for more than 2 years. I had to go on a long walk today looking for every dog in the neighbourhood that wanted a scratch. Thanks for posting a kitty photo Garth.

#67 Out Of Work CEO, Will Travel on 10.15.19 at 7:06 pm

The Environmental Movement is very shallow and narrow when it comes to food waste and the food industry and its carbon footprint in Canada. Apparently, in Canada one third of the food is wasted by retailers; by restaurants and by consumers. Never mind the packaging for food and the carbon foot print from all the garbage from food and food packaging emitting green house gases. It truly show how stunted the Environmental Movement was and is in their targeting “oil” only. It’s like they saw the tree but they missed the forest. Of course, the rest of us sat there and swallowed their “green story” hook; line and sinker concurring with their “science” hammer.

#68 Shawn Allen on 10.15.19 at 7:08 pm

About Warren Buffett’s wind farm

TurnerNation said:

Our elites NEVER allow us cheap energy, never ever.

What we see is gazillionare Warren Buffet stepping up money for turbines. We’ll pay record prices for this electricity no doubt.

********************************
Actually, Warren Buffett’s record on electricity prices is stellar. His Iowa electric utility held rates unchanged for over a decade and now has promised no increase through I believe it is 2027.

As far as elites blocking cheap energy: Check out natural gas prices in Alberta. It’s almost free for the commodity itself. Delivery still costs but the gas commodity cost is incredibly low.

If energy is expensive, how do we explain the roads clogged with vehicles. Mostly larger-than-necessary vehicles with one or two occupants.

Well, there is always someone that people can blame for their situations.

#69 Long-Time Lurker on 10.15.19 at 7:12 pm

Abhijit Banerjee and Esther Duflo: The Nobel couple fighting poverty

Soutik Biswas
India correspondent
15 October 2019

Banerjee and Duflo won the Nobel Prize for their work on alleviating global poverty

For the past two decades, the world’s most-feted economist couple has tried to understand the lives of the poor, in “all their complexity and richness”. And how an inadequate understanding of poverty had blighted the battle against it.

On Monday, Abhijit Banerjee, 58, and Esther Duflo, 46, won the Nobel Prize in Economics, along with economist Michael Kremer, for their “experimental approach to alleviating global poverty”. More than 700 million people live in extreme poverty, according to World Bank.

Both Mr Banerjee and Ms Duflo are professors at the Massachusetts Institute of Technology (MIT). Ms Duflo is the second woman to be awarded a Nobel in economics…

…”This urge to reduce the poor to a set of clichés has been with us for as long as there has been poverty. The poor appear, in social theory, as much as much in literature, by turns lazy or enterprising, noble or thievish, angry or passive, helpless or self-sufficient,” Mr Banerjee and Ms Duflo wrote in their seminal work, Poor Economics, which examined the real nature of poverty and how the poor reacted to incentives.

“It is no surprise that the policy stances that correspond to these views of the poor also tend to be captured in simple formulas: ‘Free markets for the poor’, ‘Make human rights substantial, ‘Deal with conflict first’, ‘Give more money to the poorest’, ‘Foreign aid kills development’ and the like.”

The problem, the couple said, was that the poor get admired or pitied. They are also not considered knowledgeable, and that there is nothing interesting about their economic existence.

“Unfortunately, this misunderstanding severely undermines the fight against global poverty: Simple problems beget simple solutions. The field of anti-poverty policy is littered with the detritus of instant miracles that proved less than miraculous.”

The need was, they observed, “to stop reducing the poor to cartoon characters and take the time to really understand their lives, in all their complexity and richness”…

…They hold out hope that “poor countries are not doomed to failure because they are poor, or because they have had an unfortunate history”. What often needs to be fought, they say, is “ignorance, ideology and inertia”.

https://www.bbc.com/news/world-asia-india-50048519

#70 Cal on 10.15.19 at 7:20 pm

Sorry to here about Toby, sounded like a great cat. All the best to you

#71 Millennial Realist on 10.15.19 at 7:24 pm

Paleo Boomers become irrelevant in:

7 Days and Counting………..

#72 NoName on 10.15.19 at 7:29 pm

#69 Long-Time Lurker on 10.15.19 at 7:12 pm

Funny that, I was listening to the economist podcast on a same topic today on my way home…

So if you are like me lazy to read than listen.

https://podcasts.google.com/?feed=aHR0cHM6Ly9yc3MuYWNhc3QuY29tL3RoZWVjb25vbWlzdGFsbGF1ZGlv

#73 crowdedelevatorfartz on 10.15.19 at 7:34 pm

@#23 LP
“Until I read your whole post I thought you had a lisp.”

+++
Funny I hadnt even considered a lisp…..
I was just wondering why a gay, 1st nations, female from Lethbridge would “out” herself on this blog…….?!?!?

#74 Boastin Scotian on 10.15.19 at 7:35 pm

I’m Voting Conservative. I actually did quite well financially under Harper. The Liberals and their fairytale agenda’s, where they spend ridiculous amounts of money and expect to recoup through their non existent pipeline and horrible marijuana scheme, is idiotic just as childish as Trudeau acts. Plus I’m not willing to forgive and forget his little dress up fiasco. FYI Canada does have a Slave Trading in its history! It was brief, and little is known of it outside of Nova Scotia, but it happened, look it up! The world is a very unstable place right now and a great way of throwing Canada in the dump is by keeping this privileged frat boy in office. Love the blog even though I’m allergic to dogs!!

#75 crowdedelevatorfartz on 10.15.19 at 7:41 pm

Extra ear scratches for your pets tonight folks.
Toby will appreciate the gesture.

#76 Sail away on 10.15.19 at 7:48 pm

Warren Buffett has been easing Berkshire Hathaway into Canada for a few years. He holds stock in Suncor and CN Rail and completely owns AltaLink and BHE, who are building this (small for Berkshire) $200M wind farm. Buffett’s good friend Bill Gates has stock in CN and CP Rail. Buffett rescued Home Capital a few years back before exiting at double his investment (HCG is up 50% more since his exit).

Of course Berkshire will take every financial subsidy available for clean energy infrastructure. To do otherwise would be ludicrous. You don’t get rich by passing up free money!

I’m a very happy to hold BRK stock. It gives good diversification and access to the world’s best investor’s portfolio, as well as an AGM party in Omaha every year.

#77 crowdedelevatorfartz on 10.15.19 at 7:50 pm

@#71 Mewling socialist
“Paleo Boomers become irrelevant in:
7 Days and Counting………”

++++
As opposed to you being irrelevant now….?

#78 Election Erection Dejection on 10.15.19 at 7:51 pm

What we really need is another spot to mark on the ballots. It should say none of the above beside it. If none of the above wins anyone else who was on that ballot would be prohibited from running in the next election.

Trudeau should have kept the promise that this would not be a first past the post election but when they studied all the better ways they realized better ways would no longer make them advantaged with their lies as in a first past the post system.

#79 Blessed Canadian Millenial on 10.15.19 at 7:52 pm

Garth, you literally just described me.

And I know how to vote for.

#80 Sail away on 10.15.19 at 7:59 pm

#71 Millennial Realist on 10.15.19 at 7:24 pm

Paleo Boomers rock! Can’t wait to keeping working with you in:

7 Days and Counting………..

—————————————-

Thanks! You seem like a nice person.

I’ll have a large Americano with 2 cream, no sugar, and a cranberry scone, please.

#81 Sideshow Rob on 10.15.19 at 8:08 pm

#16 James
“What a dick Trump is! Now the United States will forever be known as the country no one can EVER TRUST!
Not that they haven’t done this before but wow talk about selling out your friends to the enemy. Trump has blow the credibility or what little credibility the USA had to pieces. Who will ever go to bat with the US now in any military incursion.”

Sigh. It’s just so easy these days to sit all comfy behind your keyboard and demand more war. So bloody easy to demand other people’s children die for your entertainment and political views.
I have an idea. How about you, James, strap on a vest and an AK 47 and pack up your kids and you guys can show Trump and the rest of us how it’s done. Go kick some ass. You can do it Sport!

#82 Captain Uppa on 10.15.19 at 8:10 pm

I’m not afraid of taxes as long as it is used properly to better the society of the country. If taxing me more improves the quality of life in my neighbourhood, city, province and country, then tax me. That’s what money is for, to make life better.

Having said that, NDP goes too far for my liking and I don’t aspire to socialism. At least not their way.

Libs all the way. Life has been good for me under their rule.

#83 A Dollar is a Dollar is a Dollar on 10.15.19 at 8:15 pm

“You’re no socialist. You want taxes lower, not higher. The trade-off may be less from government. Not a problem. You favour ending deficits, controlled spending in Ottawa, no debt balloon. You don’t hate people with small businesses. You think a top tax bracket of 53% is high enough. Rich people aren’t evil. The climate may need fixing, but you’re not sure civil servants are the ones to do it. And why are we giving money to people to buy houses when that just makes them cost more?”

You nailed it, Garth!

The simple, understandable, common-sense solution is to lower taxes and tax equally on all transactions.

No special treatment for investment or real estate dollars.

Treat every dollar equally, from any kind of transaction. Tax each one equally, at a much lower rate than income taxes now.

Whites are not better than Blacks.

Men are not better than Women.

Investment dollars are not better than Income dollars.

Anyone who disagrees is a financially illiterate, lying manipulator trying to game the system for the benefit of the few at the expense of the many.

#84 Cici on 10.15.19 at 8:30 pm

Sorry for your loss NewWest. I knowhow much it hurts: just after Christmas of last year, I lost my beloved Kitty, who I adopted as an already adult cat in 2008. She was so beautiful, smart, sage and fun. I loved her like she was my own child, and when I wasn’t babying her she was mothering me!

Cats really do take great care of us and it’s so sad they are so misunderstood and misrepresented.

It hurts like heck when they have to leave, but have confidence that they’ve gone on to accomplish many a great and wonderful thing, and that your eternal love and memory of them will give them the lift they need to get the job done.

#85 dosuth on 10.15.19 at 8:38 pm

I concur with #12 Sharktank , great pic of the viaduct and of one of the image of our remarkable but sadly past) in policing.

However, going forward I think this is a milestone in our political history with no one able to make no decision for the good of no/anyone without creating dissension within some special interest group.

The next four years, (maybe sooner if some of the parties get a minority gov’t and new leaders) will be a simple shite show. Gonna pass this time around as well. Waste not want not…..

#86 VicPaul on 10.15.19 at 8:45 pm

“It still surprises me how eight pounds of fur, mystery and complete confidence could make such an impact on my life, but he did. I miss him.”

RIP, Toby.
********
….but they do. I lost childhood pets Keilie (Collie) and Buffy (persian cat) about 35 years ago and my family’s perfect pup-to-oldster (I had to carry her down to the back yard in the end) Hailie – with us almost 17 years…geez, the depth of love I still have for them…immeasurable.

#87 Yukon Elvis on 10.15.19 at 9:05 pm

“Conservatism“ is dead. Fiscal “responsibility” and balanced budgets are a thing of the past. The world has changed.A new cohort is in charge now. We have moved to the left politically. Debt and deficits do not matter. We can afford the payments so send us all the goodies. Gonna be this way for a loooong time, probably forever. Best to admit it now and take precautions as best we can and store the wealth where governments can’t reach it. The government can reach into your registered and non registered accounts, your dividends, your real estate equity, your business, and even your “net worth” with the stroke of a pen. Good luck to all in finding a place to protect your stash. If you have one.

#88 G on 10.15.19 at 9:23 pm

Sorry to here about Toby. Nineteen, you must have been treating him right. When you’re ready, cat from the pound might be worth looking into, maybe.
It is amazing how well cats can read this Blog!

#89 Yuus bin Haad on 10.15.19 at 9:26 pm

OK, let’s put this another way: Max will not be a vote-splitter

#90 will on 10.15.19 at 9:32 pm

“At every stop now the prime minister lumps Andrew Scheer in with “Doug Ford, Stephen Harper and Jason Kenney”. Oh yeah, and Trump. The message is clear. Be afraid of cons and cuts.”

stephen harper did so much damage to his party i don’t see them getting very far for some time.

as i’ve said with nauseating repetitiveness for a long time, stephen harper is probably personally conservative. we don’t know. but he doesn’t want you and i to be conservative. he and others of his ilk want you to spend spend spend and all the while believe you are exercising your “freedom” to consume. he’d probably do well in politics in the US.

#91 april on 10.15.19 at 9:35 pm

#38- I don’t want to vote for any of them….but as you said, “sadly” for me too it’s going to have to be Liberals .
Also, Ross Kay today, – Greater Vancouver Home Prices Not Rising as Claimed. Howestreet.com

#92 Dazed and CONfused on 10.15.19 at 9:38 pm

Was really hoping to vote for an alternative to the increasingly egotistical black-face T2.

Then came the clown-face caving to the chocolate milk lobby, caving to the banking lobby, caving to the real estate lobby, the fake broker resume, and the whole ‘just visiting’ hypocrisy. Tells me everything I know about his integrity and priorities.

Behind every major federal hopeful is a shameless, idiotic, bought and paid for, professional political dweeb of a campaign manager, totally clueless to the needs of the average Canadian.

No majority for either one of you two dudes.

Ironically, the only federal dude with any class, compassion, and integrity probably couldn’t balance a cheque book if his life depended upon it. Apparently, ideological money grows on trees.

Sigh. So few choices. So little time.

Pin.the.tail.on.the.donkey. Again.

#93 Angry Bird on 10.15.19 at 9:39 pm

#81 Sideshow Rob
Well said!

BTW, the Tories have always been major boot lickers in terms of supporting stupid U.S. Foreign policy.

#94 IHCTD9 on 10.15.19 at 9:47 pm

#65 Maggie the Teck Writer on 10.15.19 at 6:43 pm

Already voted. Go, Mr. Trudeau, and do the right thing for Canadians.

I don’t stand to benefit from any of the treats on offer, and I would benefit from the Tory cuts, in the short term. But my vote isn’t for sale.
———-

Excellent, I am glad to hear you voted T2. I’ve been looking to get a new SXS, but the bloody things cost 20 grand! Your vote will ensure a another new YAMAHA will be sitting in my garage in a few short years thanks to Trudeau’s CCB increases.

I’ll likely vote for AS at this point, but deep down inside; I really want those grease dripping Liberal handouts to keep flowing into my bank account!!

Thanks again for the help!

#95 IHCTD9 on 10.15.19 at 10:08 pm

#91 april on 10.15.19 at 9:35 pm

…“sadly” for me too it’s going to have to be Liberals.
——-

That’s not sad from where I’m standing.

I might have to put a new wing on the garage!

A guy I work with has six kids and has been jonesing for a
new Mossberg 590A1 semi-auto to add to his collection. T2’s CCB increases will cover it with room to spare (for ammo).

Who would have thought the Libs would be buying off-road vehicles and ordinance for folks? I guess they’ll eventually figure out they’ve got the income cut-off way too high, and are handing out THOUSANDS to families who don’t need it, but until then:

We’re S-H-O-PP-I-N-G, we’re shopping!

#96 Yvrmc on 10.15.19 at 10:09 pm

#52 Bob ….. good lord , raise taxes ? 53% isn’t good enough for you . So tired of taxes and T2 ! He has to go . I voted the other day … Greens have no platform I could work with. NDP are a disaster and always will be . The Bloc ? How do they even qualify to be on the stage for a debate , pathetic . Liberals ? A debacle since Socks made the now epic declaration “ and the budget will balance itself “ it leaves one choice , not perfect but a damned sight better than any of the other options …. Tories for the win !

#97 Yvrmc on 10.15.19 at 10:18 pm

#71 MR…. guess what sonny , your time is coming . Happens to everyone . I wonder if you will be this much of an Ahole when you get to that age …..

#98 Lisa on 10.15.19 at 10:28 pm

Go Jag! Hit the greedy where they live…right in the dividends.

#99 Nonplused on 10.15.19 at 10:37 pm

Our cat, also named Toby, is also dying, kidney failure according to the vet. He’s lost a lot of weight. He can’t see straight anymore. But he still does a tour of the house to sleep in all his favorite places. However I don’t think it will be long.

#100 S.Bby on 10.15.19 at 10:39 pm

There’s no point in having money in Canada. Just be poor and take the handouts. It is very disheartening.

#101 Smoking Man on 10.15.19 at 10:41 pm

Knowing that Canada gets another 4 years of the T2 disaster.
Question is?
Did I leave any loot back home? Because he and his globalist handler’s are coming for every last cent you have…

#102 IHCTD9 on 10.15.19 at 10:50 pm

#87 Yukon Elvis on 10.15.19 at 9:05 pm
“Conservatism“ is dead. Fiscal “responsibility” and balanced budgets are a thing of the past. The world has changed.A new cohort is in charge now. We have moved to the left politically. Debt and deficits do not matter. We can afford the payments so send us all the goodies. Gonna be this way for a loooong time, probably forever. Best to admit it now and take precautions as best we can and store the wealth where governments can’t reach it. The government can reach into your registered and non registered accounts, your dividends, your real estate equity, your business, and even your “net worth” with the stroke of a pen. Good luck to all in finding a place to protect your stash. If you have one.
———-

Hard to argue these points, consumers and governments are rife with debt, almost no one cares (like 3%).

I can’t control my fellow Canadians’ priorities, and I don’t want to live pissed off and worried either. So, I practise some (very) old school stoicism, and make a plan for contentment.

For me, that means maximizing every hand out, every tax shelter, and every loophole. To exploit any lack of enforcement, every opportunity to avoid taxation, and rigidly offsetting any and all new fees and costs levied today, and into the future.

There may come a day when it’s time to exit the loonie before the IMF touches down in Ottawa to discuss the bailout terms.

I plan to be well ahead of the game then, as I am now. It’s an easy game plan, and more gratifying than a fresh coat of paint. There will probably be at least 3% of Canadians doing exactly the same thing.

#103 Phylis on 10.15.19 at 11:12 pm

#71 Millennial Realist on 10.15.19 at 7:24 pm
Taxation is the solution to pollution, agreed.

#104 PastThePeak on 10.15.19 at 11:29 pm

#99 crazyfox on 10.15.19 at 4:04 pm

Try a changing climate. Try the Arctic ice cap free of ice in September of 2021 and a world wide lesson the the effects of latent heat in the Arctic ocean. Try karma. Look, its happening now, record low Arctic sea ice extent from latent heat slowing ice refreeze:

https://nsidc.org/arcticseaicenews/

+++++++++++++++++++++++++++++++++++++++++++

Well Crazy, I will give you this – you made a definitive prediction. The north pole will be ice free in two years!!! We shall see if your prediction is any better than Al Gore’s. Hopefully Garth is still manning the blog ship & we can check back with you.

Just a little note: per the article you linked, 2019 is not looking like “record low ice” – it states 3rd lowest after 2012, and then 2007 (…what, more ice now than in 2012 and 2007…seems like an upward trend…).

#105 DON on 10.15.19 at 11:37 pm

#49 PeterfromCalgary on 10.15.19 at 5:35 pm

A vote for the PPC is a wasted vote.

A vote for Jag is a vote for a economic decline.

A vote for Trudeau is a vote for corruption, slower economic decline and Canada’s first blackface Prime Minister.

A vote for Scheer is a vote for prosperity, regional peace and no blackface.

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

Kenney the Albertan ‘demi God’ was supposed to be the saviour and return economic prosperity, now Harper’s entourage (Scheer) is clasping for power and he will bring the economic jazz in a global downturn?

Out of all the people in Canada these are the only choices presented to us? Really? Anybody find something wrong with this scenario. I wouldn’t trust any of them to be stewards of our economic or social well being.

For years we have gone from Conservative to Liberal and back and forth…back and forth. I liked Jean Chretien and Paul Martin for what they did to our deficit/debt.

Who knows in this election there could be enough millenials that vote and sway the outcome away from the traditional back and forth. Sooner or later the shift will happen. I don’t think it will be this election but shift will happen…unless they turn into their parents…in a couple more years.

I voted for the best person in my area. Yup…wrote my name on the ballot and put a check beside it. I can run a hot dog stand those are my credentials.

#106 DON on 10.15.19 at 11:48 pm

China / US

Behind the scenes they are been actively decoupling from the joint dependency. India is increasing trade with China and the US is hedging it’s bets with the West.

IMF is worried about the global outlook, Canadians owe the most debt out of the G7 countries and most is mortgage debt. Nothing to see here. Alberta appears to be debt central per capita and now insolvency (unfortunately), seems to be getting media recognition. I don’t wish that on anyone, the financial stress can lead to falling dominoes. Now Buffet is moving in with wind jobs. Weird eh! Where the hell did Bog and Doug Mackenzie go?

#107 DON on 10.16.19 at 12:17 am

#14 Dave on 10.15.19 at 3:54 pm

Everyone I know in Vancouver is poor because Real Estate is soooooo expensive – something has to change drastically so the next generation is not in life long mortgage for a 500 sf apartment.

Liberals is sadly my only option
*******************

Never before have voters been so mad sad about voting for the next boss under the creepy circumstances.

Which one is not as bad as the other? That is the dominant question weighing on voters.

#108 VicPaul on 10.16.19 at 12:33 am

#58 Damnifino
We had our differences, but there’s very few people left in this world like him.

I could go on, but I’ll save it for Veteran’s day.
*******
Nice to hear a man speak with respect and admiration about his father; or other mentors in our lives – we men don’t speak well of/on behalf of/in support of each other often enough these days. I believe young men need our guidance and helpful encouragement.
We men…a bunch of stoic, little islands.

#109 fishman on 10.16.19 at 12:53 am

I like the Millenial Realist more all the time. Anybody that makes a future call underestimating their enemy is all right with me. Many, many Millenials been on this Paleo Boomer’s payroll. In my racket youth & no sleep beats age & experience every day. The only chance I got is if they come with overwhelming self assurance[hubris]. Then its easy pickings, easy victim, easy money.

#110 Statsfreak on 10.16.19 at 1:03 am

Should I sell and take capital gains in my unsheltered investments account before October 22 to avoid future possible increased taxes?

#111 crazyfox on 10.16.19 at 1:09 am

Actually the Conservatives are planning deficits, too. But only for a couple of years, then spending will match revenues. – Garth

“Oh ho ho not so fast” says crazyfox. The devil is in the details! Lets look at those details again from the Conservative platform:

https://cpc-platform.s3.ca-central-1.amazonaws.com/CPC_Platform_Costing.pdf

On page 3 of the link under “Fiscal plan “new savings and revenue measures, we see cuts to infrastructure spending: 21′ $1.29 billion, 22′ $1.446 billion, 23′ $3.376 billion, 24′ $5.271 billion, 2025, $ 6.726 billion.

The Con costed platform implies balance in 5 years, not 2. Anything before 5 is likely fantasy as there’s a 10 billion dollar hole in year 3 alone.

Under fiscal plan summary, the end of page 3, the Cons say they’ll return to surplus through cuts, mainly through infrastructure spending that’s already budgeted. Doug Ford (look, his name came up) decided to slow walk 25% of the claimed 40% unspent infrastructure $ by the Libs so the Cons can rebrand infrastructure spending in their name but at the end of the day, cuts are coming to infrastructure. You can put lipstick on a pig, but its still a pig. The Cons are stretching the same earmarked spending over 11 years instead of 8 and it will slow productivity and growth.

https://www.conservative.ca/experts-agree-conservatives-have-realistic-fiscal-plan-for-infrastructure-projects/

The Cons promise to cut 5 billion from operating expenses by year 2025. Harper tried with limited success. The fed civil service shrunk by 60,000 through forced retirement (80% of pension for early retirement) and waiting for union contracts to expire for rollbacks to salaries with the civil servants not forced out and the rest under contract, over several years. The costs of early retirement cost the government more than it saved in the first couple years. The savings averaged $2 billion a year for 2 years to follow if I remember correctly, until it became too unreasonable/unsustainable to keep rolling back salaries coupled with contracts inflating upon renewal and overall government services in too steep a decline. Oh, the Cons can claim the money is there to save and a CBO can call it possible, but its much harder to put into practice. Y’know, like the CRA going after tax cheats in year 4 and 5 supposedly saving 6.8 billion. Harper promised the same thing and cut CRA spending 38% and did absolutely nothing. So, there’s that. It sounded so great at the time though right, voters lapped it up.

Cut corporate welfare to the tune of 1.5 billion a year, like this won’t be east/west divisive if tried. I’ll believe this when I see it and 25% cuts to foreign aid is also a big mistake. A quick look at the international market penetration Canadian commodity corps have abroad should tell us why. Trump did the same thing, 25% cuts to the state department. The U.S. became the #1 economic superpower through trade of which foreign aid opens doors. Why did Trump do it? Putin wanted him to, set back the U.S. a few years in time, because Trump is that easily bought so one should transparently assume but aside from accurate conjecture, it’s not good trade policy to make these cuts! It might seem good but economically it will hurt growth. 1.5 billion annual savings driven by puffery and 1.5 billion in annual savings driven by misguided ideology. So why do it and that begs to ask the question how much more aligned will Scheer be to the U.S.

Scheer has been pining away to allow U.S. missile defense in Canadian soil for years now, sure to see U.S. military bases follow if he succeeds. Is this the direction we want to head towards? Are we so sure we want Scheer in power during the next U.S. led resource war, possibly before Trump is forced or voted out of office? Do we want more dead Canadian soldiers from another U.S. resource war? It’s a legitimate question!

And what if, just if, the civil servants of the world truly are the ones who need to fight climate change? Because it sure looks like the average low born, plebeian serf lamen commoner isn’t doing it and the rich and corporations are crying poor. It’s kind of like asking parents to teach their kids instead of schools, or sick people to heal themselves instead of using hospitals. Yeah, we may just need government on this one and gosh, the taxpayer might just have to get the tab. Like, who else? Farg.

Do we really want a government who will simply let market forces dictate what happens next with climate change in a nation that produces 5% of the world oil consumed, with a mere .5% of the world population? Because we should know what that means. It means Canada does nothing. Who do you think will live with that the most as climate change worsens and there’s nowhere to run? What, we think it won’t? Really?

https://www.youtube.com/watch?v=vj4e-HhztDk

Check out how much Arctic sea ice volume is left at the 12:35 mark of this video. That’s right, now I’m asking you all to watch it for 2 minutes and then ask yourselves… when will all the Arctic ice be gone? Late summer of 2021 is my best guess and we won’t have long to wait for its accelerating effects. Imagine an Arctic ocean hitting 8 to 10 degree average temp highs by 2025. Ocean waters were hitting these temps 50 miles of the Arctic Alaskan coast this summer now. Imagine 13 to 15 degree average Arctic ocean highs by 2030… how much hotter will this make the northern hemisphere… the heatwaves… how much slower will the jet streams be… I truly fear for our forests.

Do we really want a government that doesn’t see this coming or just doesn’t care? There are more important things to life than money or the fairy tale promises of such. Life itself and all that sustains it should take precedence, should it not? Damned elections, about as popular as Syphilis making us ask such questions we’re supposed to know the answers to already.

#112 Smoking Man on 10.16.19 at 1:17 am

Tulsi Gabbard is the only Democrat that can defeat Trump.
And CNN is crushing her, cutting off her Mike.

I’m starting think this whole thing is a big play.

engineers are miles ahead of everyone.

#113 Bobby on 10.16.19 at 1:31 am

I expected very little from Trudeau when he was elected, he certainly hasn’t disappointed.
You can spell the desperation in the air when the Liberal Party brings up the abortion debate. It’s not even an issue. The Liberals should be running on their record, but it is abysmal. They should be running on the strength of their leader but Mr Trudeau has shown he is nothing but a hypocrite. Certainly Canada’s weakest PM on record. They should be running on their fiscal abilities, but they are throwing future generations under the debt bus.
Hopefully Canadians will choose wisely.

#114 short horses on 10.16.19 at 1:44 am

I’m very sorry for your loss, NewWest.

#115 Not So New guy on 10.16.19 at 1:50 am

I very much fit the profile but I would add something.

Canadian public debt needs to be put on a repayment plan similar to a mortgage. MPs should lose income if they fail to meet the benchmarks.

There is no reason why we can’t show the discipline to pay down our debts on a regular payment schedule. I would probably vote for the politician who pledges that.

The only thing that is really standing in the way is the rentiers that hold that debt and I believe they would fight tooth and nail to prevent it from happening

#116 Fortune500 on 10.16.19 at 3:43 am

Judging how Canadians now treat housing, it is very unlikely many are fiscally conservative anymore. Things have changed. Hey, I just want our national carrier to still refer to me as sir . . . but even asking that too much now.

#117 Stan Brooks on 10.16.19 at 3:59 am

https://ca.finance.yahoo.com/news/rent-going-up-twice-as-fast-as-incomes-toronto-150507188.html
Check the video on the link.

That – insane cost of rents – is direct result of the incompetent and dangerous housing policies, this is how in a connected/fluent society a housing bubble and unjustifiable cost of houses impacts renters.
(in addition to inflation, cost of groceries, services etc.)

i.e. it is hard to be normal in a mental institution where the personnel is on strike.

Let’s see for how much longer will/can the (extraordinary stupid, compliant and ignorant) shepple take it. We already have 3.3 k for 400 square feet (1 1/2 bedroom!) monthly rent, will that go to 5 k in 2-3 years? You bet.

No worries, there will be a committee to review the problem and it will be ‘solved’ by subsidies to some renters which of course will be taken as taxes from the average Joe who will not qualify.

Keep beating the dead horse/the taxpayer, keep beating the dead horse folks, I am sure it will work out somehow….

‘Affordable’ housing at 1.5 mil for a shack, 800 k for a concrete/glass box of 700 square feet, ‘affordable’ rent at 3.3-5 k for a shoe-box..

Because everyone wants to live in shitty GTA.

Bhahahahahahhahahahahahaha.

#118 Sail Away on 10.16.19 at 5:10 am

This is sort of funny- shysters tried to sneak into the US and were caught. Why does media give them a platform?

https://www-cbc-ca.cdn.ampproject.org/v/s/www.cbc.ca/amp/1.5321656?amp_js_v=a2&amp_gsa=1&usqp=mq331AQCKAE%3D#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.cbc.ca%2Fnews%2Fcanada%2Fbritish-columbia%2Fuk-tourists-arrested-entering-us-illegally-1.5321656

#119 Ace Goodheart on 10.16.19 at 7:01 am

Trudeau looks like he might have a problem.

Voter demographics.

He is predominantly supported by the young folks, to whom he seems to pander and who he appears to wish to buy with promises of government help with house purchases and other hand outs.

Anyone over 60 does not like him. And it is not just a casual dislike. It is visceral. It is like they talk about him like they would talk about a tumor they just had removed. Like the skunk they got the exterminators to pull out from under their front porch, after it had sprayed their cat, dog, and chased their grandkids. Like your parents used to talk about that friend you had that you thought was cool and they thought would end up in prison and they wanted you to stay away from.

They really, really hate him. My in laws, staunch Liberals since before the beginning of time, are voting conservative in this election. For the first time, ever. Why? They hate Trudeau. They will cast a ballot for the party that they have never supported and do not like, just to keep from having to vote for him.

For Trudeau, this is a huge problem.

Because the old folks decide the results of elections.

There has been a steady reduction in voter turnout in Canadian elections, since the first one was held back in 1867. We currently have about a 60% turnout rate:

https://www.elections.ca/content.aspx?section=ele&dir=turn&document=index&lang=e

Who are these people who actually vote?

Well, they are not young folks. They are mostly older. Usually the people who decide the outcome of elections in Canada are the 60+. They are the people who vote.

Millennials, that giant, smokey, tatooed voice for change and communal, collective living, for some reason, though they can get to Starbucks reliably on time every day, cannot make it to a polling station.

They don’t vote all that much.

The 60+ crowd hates Trudeau. And that is going to be a problem for him.

They also seem to think that Andrew Scheer reminds them all of a “good boy” or a “nice kid” or a “kind man”.

So yeah, T2 is in trouble.

#120 Trudeau on 10.16.19 at 7:21 am

An absolute embarrassment . Reep what you sow Canada

He wins again, a testamount to the intellect/desperation of Canadians

#121 Gender is dead on 10.16.19 at 7:41 am

You forget to mention that Trudeau is the “little potato’ of a globalist cabal led by George Soros. That’s why Trudeau is screaming about Ford, Harper and Trump, the globalists who are pouring billions into propaganda , are freaking out seeing him losing.

BTW, the 60/40 is also dead.

MarketWatch: Bank of America declares ‘the end of the 60-40’ standard portfolio.
https://www.marketwatch.com/story/bank-of-america-declares-the-end-of-the-60-40-standard-portfolio-2019-10-15

#122 RegularEverydayNormalGuy on 10.16.19 at 7:43 am

Wealth taxes will always get my vote – can you think of any better mechanism to hold the reins on growing inequality when the return on assets is growing at a higher pace than the economy?

Implementation is another story but need wider acknowledgement that income tax isn’t enough when capital is accumulating much faster.

#123 Race to the bottom...sad on 10.16.19 at 8:06 am

#54 Tater on 10.15.19 at 5:50 pm
#29 IHCTD9 on 10.15.19 at 4:27 pm
#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!
———————————————-

Such a sad statement.

#124 Kumaran on 10.16.19 at 8:30 am

Hi Garth, helpful post today, still trying to figure how the conservaties can end the stress test which was bought in by OFSI, an independent institution. Can they just direct OFSI to do so?

#125 Dharma Bum on 10.16.19 at 8:42 am

#117 Stan Brooks

Because everyone wants to live in shitty GTA.

Bhahahahahahhahahahahahaha.
——————————————————————–

I hear ya.

I’m no lover of the GTA myself. I live here, but that was just a result of birth accident and lifelong laziness and lack of ambition and creativity.

Thinking about it though, the rest of Canada is just one big hicktown. A rural backwater filled with hayseeds. OK, I guess, if you’re into that sorta life style. Greenacres.

Quebec? Hah! If you’re not French, you gotta be a masochist to wanna live there.

So, if you’re stuck in Canada, there’s really not a lot of serious choices for grinding out a successful existence (for the average Joe, that is). That’s why Toronto is so bloody popular.

The issues that politicos rant on about in Canada are irrelevant. All that matters is Toronto.

Fix it and you fix the universe.

Subway to Richmond Hill NOW.

I turned 60 today.

Groan.

#126 PastThePeak on 10.16.19 at 9:14 am

#102 IHCTD9 on 10.15.19 at 10:50 pm
#87 Yukon Elvis on 10.15.19 at 9:05 pm
“Conservatism“ is dead. Fiscal “responsibility” and balanced budgets are a thing of the past. The world has changed.A new cohort is in charge now. We have moved to the left politically. Debt and deficits do not matter. …
———-

Hard to argue these points, consumers and governments are rife with debt, almost no one cares (like 3%).

I can’t control my fellow Canadians’ priorities, and I don’t want to live pissed off and worried either. So, I practise some (very) old school stoicism, and make a plan for contentment.

++++++++++++++++++++++++++++++++++++++++++

Yep. You can’t save your country, or the world for that matter. The “increasing debt until she explodes” die is cast. Simply a matter of when.

But you can work to save yourself, and your family. Develop a life and financial plan that is diversified (and beyond 60:40), considers the likely new taxes to come (wealth, higher income, property). If you are a high-earning debt slave, start a small side business, get the tax write offs (as sole proprietor), while also having some additional income and developing new skills. Consider slowing down earlier with less total accumulated, but taking you below the primary tax target zone (might have overall more after tax money with your side business). Enjoy life!

My plan is in motion, and it doesn’t matter who wins the next election.

#127 milly on 10.16.19 at 9:16 am

The carbon tax was a way to have business champion environmentally friendly initiatives and fight climate change. It encouraged innovation. This was actually a very conservative policy, and Ford whacked it to “get at the libs”. I am not sure what the conservative party even stands for any more. I really want them to drain the swamp, put in actual “progressive conservatives” (Not people who care too much about abortion, LGBQT etc. over actually improving our country) so we have a viable choice for once. Until then, Liberal it is.

#128 squished18 on 10.16.19 at 9:25 am

Garth would call me a socialist. I’m fine with where my taxes are right now, because I believe in helping my neighbours and our government is actually pretty efficient at doing that. I don’t want less from government, I want more efficient government. Deficits have their time – but when there’s miles of SUVs at Costco, it’s definitely a sign that government doesn’t need to prop up the economy. I don’t hate people with small businesses, and other than trademark it would be helpful to destroy other IP protection. I think the top 0.1% don’t get taxed enough – because we only tax income. Tax assets. Too much power (i.e. wealth) concentration in too few hands is bad for democracy and bad for the people. The climate needs fixing, and government is the only way to get large enough action to be meaningful. And I definitely don’t want to “give” people more money to spend on houses.

There – that’s a better representation of what people really need.

#129 Leo on 10.16.19 at 9:36 am

As an Albertan, I am a bit disappointed that there isn’t a Bloc candidate that I can vote for…. I would like to help Q separate and think Canada would be better off for it.

#130 Blacksheep on 10.16.19 at 9:41 am

Alberta Nomad # 68 from Oct/12:

“In theory, the federal government can create infinite money, and taxes are collected to destroy money, thus combating inflation. Devaluation of the Canadian Dollar relative to other currencies and runaway inflation are the main dangers of excessive government spending.

In relation to housing, most loans are created from new money (loaned to the lender by the central bank) and Bank of Canada interest rates are a method of destroying money at a controlled rate. The lender keeps some of the interest for their profit, while the portion paid to the central bank is destroyed. The economy grows overall from the increased cash in circulation.

If this system of money birth and death is properly managed, inflation stays relatively flat. In many areas of our economy inflation has been very stable and low. The glaring exception has been the unrestrained increase in the cost of putting a roof over our heads. Interest rates for housing have been too low — not enough money is being destroyed — thus runaway inflation has occurred in real estate relative to the rest of the economy.

Interest rates have stayed low to spur economic growth, and for many business loans, provincial and municipal budgets that may have been a good decision. But allowing housing loans to be lent out at the same rate as government and business loans has been a catastrophe for affordability. We are so far down the rabbit hole now I do not see how housing prices can come down without several generations of stagnent prices or hemorrhaging the economy for a few years and watching millions go bankrupt.

The complexities of Mr. Market and government policies may be too much for us mere mortals to comprehend.”
—————————————
Any body pining to purchase RE, or that’s overly concerned about gov. debt / inflation, should re-read the above until they understand what Nomad, has actually pointed out. This person offers rare insites, even for this economically, enlightened blog.

My take:

The monetary system simply doesn’t work how 98% of the population thinks it does, if one can understand even the basics of this, (its all I can get my head around) a whole new perspective on the economic situation we find ourselves in, comes to light…

#131 maxx on 10.16.19 at 9:45 am

@ #42

Splints and bandages for the horse’s hind cannon bones. There is no way those stunted, flimsy little chicken sticks could support a girth like that. Let alone saddled with a mountie.

A metaphor for the weakening underpinnings of Canada’s crippling economy with continued Lib-driven mountains of national debt?

#132 Quintilian on 10.16.19 at 9:54 am

Canadians are mostly educated people.
We will choose wisely. The polls are wrong.
Libs by a landslide.

#133 n1tro on 10.16.19 at 9:55 am

end carbon tax scam? i’m sold. Thanks Garth

#134 Bytor the Snow Dog on 10.16.19 at 10:14 am

When are we going to go back to parties that have actual leaders instead of puppets controlled by the Back Room Boys?

#135 IHCTD9 on 10.16.19 at 10:15 am

#117 Stan Brooks on 10.16.19 at 3:59 am
___

I was paging thru Kijiji last night, and my search parameters drew some RE ads. I clicked on one ad for a Condo in Toronto, just for a laugh. “Steps from this, close to that, granite, trendy, pool, blah, blah blah” – 1 BR condo for 700K.

The median household income in Toronto is within 4500.00 of my moraine littered rural backwater.

I stopped trying to understand a while back. Everything I read says over the next couple decades, Toronto is slated to become stuffed to the gills with seniors and newcomers. Those that can exit will, and this has started already with young families exiting. If raising a family in Toronto continues to be an uphill battle, Toronto’s future belongs to the aged, and the transient. Definitely not a place to make long term investments in.

Interesting anecdote: I was in Toronto a couple weekends ago at RTH to see “Return of the Jedi” with the TSO playing the soundtrack live. It was a matinee, and was not horribly expensive. I was expecting to see a lot of kids like I always do at shows like these (we brought ours). This one should have been LOADED with kiddies.

Nope – more blue hairs than kiddies. WAY more. I guess young Toronto families either can’t afford it, or what I saw may have been a reasonable cross section of what Toronto’s age demographics look like.

#136 Mattl on 10.16.19 at 10:16 am

#95 IHCTD9 on 10.15.19 at 10:08 pm

A guy I work with has six kids and has been jonesing for a
new Mossberg 590A1 semi-auto to add to his collection. T2’s CCB increases will cover it with room to spare (for ammo).

Who would have thought the Libs would be buying off-road vehicles and ordinance for folks? I guess they’ll eventually figure out they’ve got the income cut-off way too high, and are handing out THOUSANDS to families who don’t need it, but until then:

We’re S-H-O-PP-I-N-G, we’re shopping!

—————————————————————-

People shopping with the CCB is a feature of the program not a bug. That’s all this program really was – stimulus wrapped up in SJW friendly package.

You think the Libs don’t know that families at 2x median income don’t need a child care check? Buying quads (and smokes, and booze, and vacations) is exactly what they want you to do with the money.

#137 n1tro on 10.16.19 at 10:22 am

#54 Tater on 10.15.19 at 5:50 pm
#29 IHCTD9 on 10.15.19 at 4:27 pm
#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!
———————————————-

par·a·site
noun
1.
an organism that lives in or on an organism of another species (its host) and benefits by deriving nutrients at the other’s expense.
—————–
Parasites feed off the host to their benefit. Without the host, it would die. Anyone smart enough to milk free benefits is more correctly an

op-er-too-nist
1. a person who practices opportunism, or the policy of adapting actions, decisions, etc., to effectiveness regardless of the sacrifice of ethical principles:
He is an extreme opportunist and always thinks the ends justify the means.

#138 isleofvanman on 10.16.19 at 10:25 am

#98 Lisa – you just don’t get it do you. Dividends are not just for greedy ultra rich people… they’re for pension holdings that everyday common folk have too. The dividend tax credit really only helps to offset the losses we have with our saved dollars to ever rising inflation now anyways. You are planning on saving some money at some point in your life arent you ? Why wouldn’t you want it to hold its’ value ?

#139 IHCTD9 on 10.16.19 at 10:49 am

#125 Dharma Bum on 10.16.19 at 8:42 am

So, if you’re stuck in Canada, there’s really not a lot of serious choices for grinding out a successful existence (for the average Joe, that is). That’s why Toronto is so bloody popular.
___

The Median Household income in Toronto is like 10 down from the top for Canadian Cities. Behind St. John’s, Saskatoon, Regina – behind a pretty good list of much smaller hick-like cities. There are plenty of cities you can be successful in Canada – and most don’t try to sell you a 700K 1BR condo like Toronto does.

IMHO, Toronto is great – if you’re a 1%’er. If you make the same $ (or less) as some hayseed in rural Saskatchewan, you’re going to retire broke with no assets if you stay in the GTA.

Best plan if successful living and comfy retirement is the goal and you’re not Bill Gates of the North, is get out of the GTA. Set up 1.5-2 hrs away where you can live like a hated Boomer on the local incomes, and still save for retirement. If something interesting is going on in Toronto , you’re still close enough to attend.

Best of both worlds

#140 IHCTD9 on 10.16.19 at 11:12 am

#137 n1tro on 10.16.19 at 10:22 am
____

Not to mention that the hosts (taxpayers) dove straight into the tall grass full of ticks willingly and gleefully via a majority mandate (Liberals).

I guess they were hoping it would be someone else’s money in their bank account, instead of the other way around.

I’d love to see a return to fiscal conservatism – but if it has to be more spending and debt, then – I’m gonna back up the truck!

I will pack that bank account with Lib cash until they figure out that billions worth of CCB benefits are funding guns and 4×4’s. By then it’ll be too late though, garage will be packed full.

#141 M.T. on 10.16.19 at 11:16 am

#64 “their policy on gun violence is about the same.”

That is exactly backwards, completely backwards: it’s Liberal/NDP policy that thinks gun violence will just “go away” by banning guns from safe and responsible owners like me.

I watched Scheer respond to an ambush-style question on this topic several days ago, and he fielded it superbly, by (correctly) noting that while there’s no easy solution, the Liberal one is just laziness that won’t actually help anything, and isn’t evidence-based at all.

#142 MetroMessiah2.0 on 10.16.19 at 11:21 am

Anyone else NOT surprised when Mr. dressup donned a bullet proof vest? lol. Desperation in it finest form, will probably garner some additional pity votes playing the victim card. I guess we’ll see, a drama degree may pay off after all.

#143 Thedood on 10.16.19 at 11:35 am

#14 Dave on 10.15.19 at 3:54 pm
Everyone I know in Vancouver is poor because Real Estate is soooooo expensive – something has to change drastically so the next generation is not in life long mortgage for a 500 sf apartment.

Liberals is sadly my only option
______________________________
Liberals are not your only option. They appear to be your choice though.

#144 thesecondcomingofjohngalt on 10.16.19 at 11:37 am

Hi newwest,
Condolences for your loss, they are very special companions, even more so when we no longer have them in our lives.

#145 Remembrancer on 10.16.19 at 11:39 am

#135 IHCTD9 on 10.16.19 at 10:15 am

Not that surprising, even looking back 30 years ago for the upward mobility, 1-2BR rental apartments / condos were considered starter homes or retirement pads and the aspiration was to move to the burbs to grow a family.

What you might consider transience, others would see as vibrancy and renewal… For example, finally in the last 4-5 years, damn good shawarma available in the eastern hinterland burbs of Durham…

#146 IHCTD9 on 10.16.19 at 11:41 am

#126 PastThePeak on 10.16.19 at 9:14 am
#102 IHCTD9 on 10.15.19 at 10:50 pm

I can’t control my fellow Canadians’ priorities, and I don’t want to live pissed off and worried either. So, I practise some (very) old school stoicism, and make a plan for contentment…

++++++++++++++++++++++++++++++++++++++++++

Yep. You can’t save your country, or the world for that matter. The “increasing debt until she explodes” die is cast. Simply a matter of when.
_____

Everyone of us 3%’ers (who are concerned about debt) are probably rolling a plan together right about now. It is VERY hard to imagine this ship turning around. If T2 gets another 4, I’m going to hang my hat on that idea and “govern myself accordingly”.

“It’s not what happens to you, but how you react to it that matters.” – Epictetus

“To make the best of what is in our power, and take the rest as it occurs.” – Epictetus

#147 TurnerNation on 10.16.19 at 12:03 pm

#67 CEO. You figured it out. And big corps will not be forced into making their disposable coffee cups more easily recycled.
Corps get a free ride. This is not about environment or pollution. UN’s pet spokesman is in town to shut down our industry. That’s the end goal

Here in Ontariowe we have a nuke reactor
.and highest electric prices. Scaring away industry. Go to USA.

#148 jess on 10.16.19 at 12:08 pm

par·a·site
noun
1.
an organism that lives in or on an organism of another species (its host) and benefits by deriving nutrients at the other’s expense.

——–
co-evolved
“one who eats at the table of another”.
Every animal is plagued by some sort of pest. You’d think we would all be better off if we got rid of them, but in fact parasites are rather handy

http://www.bbc.com/earth/story/20150127-what-if-all-the-pests-vanished

#149 IHCTD9 on 10.16.19 at 12:31 pm

#123 Race to the bottom…sad on 10.16.19 at 8:06 am
#54 Tater on 10.15.19 at 5:50 pm
#29 IHCTD9 on 10.15.19 at 4:27 pm
#19 Ponzius Pilatus on 10.15.19 at 4:00 pm
Herr Scheerer would give me a 1K tax credit.
Plus lower the tax on my pension income.
My principles are being tested.
___

Hey Ponzie – do me a favour and vote Lib – I’m trying to become a 40%’er (no taxes) before my kids hit 18!
———————————————-

Such a sad statement.
____

Don’t hate the playa.

Hate the game.

#150 Gary McGarry on 10.16.19 at 12:44 pm

64 David McDonald on 10.15.19 at 6:35 pm

With all respect, if you truly believe humans are causing global warming and that taxing it will curb or solve the problem, you deserve to pay every last penny of carbon tax they squeeze out of you.

#151 oh bouy on 10.16.19 at 1:38 pm

@#119 Ace Goodheart on 10.16.19 at 7:01 am

/////////////////////////////////

so true ace.
the wrinklies are going to win this for scheer.

#152 IHCTD9 on 10.16.19 at 1:56 pm

#136 Mattl on 10.16.19 at 10:16 am

People shopping with the CCB is a feature of the program not a bug. That’s all this program really was – stimulus wrapped up in SJW friendly package.

You think the Libs don’t know that families at 2x median income don’t need a child care check? Buying quads (and smokes, and booze, and vacations) is exactly what they want you to do with the money.
___

I was thinking the cut-off was set so high to allow well paid civil servants (ie. Lib voters) to cash in.

I hope I’m right about that, because that would mean every time the Libs need to re-fill the trough at election time – I will get to line up for a free meal too!

#153 Shawn Allen on 10.16.19 at 2:56 pm

How Banking Works

Blacksheep at 130 quoted and praised the following statement from Alberta Nomad:

In relation to housing, most loans are created from new money (loaned to the lender by the central bank)

****************************
Blacksheep is that statement true? Does the Bank of Canada normally lend to the commercial banks? That is not my understanding, although they can as a last resort.

#154 Rocket on 10.16.19 at 2:59 pm

The cons platter looks appetizing, I’d just like a little less xenophobia, misogyny and WWJD as part of the policy forming thought process.

#155 conan on 10.16.19 at 3:00 pm

Nail biter election………Obama just endorsed Trudeau.

#156 EB on 10.16.19 at 3:11 pm

#64 David McDonald –

Personally my problem with the liberal/NDP platform on carbon is that implementing these changes will (a) negatively impact Canadian lifetyles, while (b) reducing our carbon output by a degree which amounts to a rounding error in estimating the carbon output of China, the EU, and the USA combined. The effective will be zip, nada, nothing whatsoever. And this ain’t a per capita thing, because actual megatonnage matters more if you’re interested in affecting things in any real way. Which means is it specifically about signaling our intentions and not about solving any particular problem. That’s not good enough for me. A real platform would address the real elephants, not the Canadian mouse.

#157 Stan Brooks on 10.16.19 at 3:23 pm

#153 Shawn Allen on 10.16.19 at 2:56 pm

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Blacksheep is that statement true? Does the Bank of Canada normally lend to the commercial banks? That is not my understanding, although they can as a last resort.

That is embarrassing for a CFA…

Now read my lips:

1. Central bank provides liquidity as short term loans, when banks who have no reserve deposit requirements need cash, they do it against ‘collateral’ in the form of bank loans.

2. Central banks buys collateral, i.e. MBS, mortgages from banks when they need ‘liquidity’ thus conversion M2 to M1/base money, i.e. banks face no risk as they are surely rescued by the central banks when reserves are insufficient.

It is perpetum mobile with no real risk for the banks.

#158 NotLegalAdvice on 10.16.19 at 4:03 pm

#155 conan on 10.16.19 at 3:00 pm
Nail biter election………Obama just endorsed Trudeau.

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How much does this really change things? Former President Obama saying T2 is a great guy doesn’t change much. However, Rihanna following Jag on IG….now that’s a game changer!

I’m looking forward to a PC minority.

#159 espressobob on 10.16.19 at 9:08 pm

Cats, an underrated specious that rip apart our furniture, piss on the carpet and deal with us humans extracting those sewing needle claws. Ouch! No wonder some are xenophobic toward felines.

Try living with these four legged creatures over time and for some unknown reason they have a habit of stealing your heart.

Not sure how they do it? I’m just glad they do.

#160 BigQ on 10.17.19 at 10:04 am

#madmax2019

A vote for principles is never a wasted vote.

If we kick out Trudeau, what good is it gonna do if we get Trudeau-lite?

How are we going to enjoy the fruits of our labour when our rights are being trampled by everyone in parliament? Look at how Scheer talked before the debates vs after the debates.

Garth, I believe you were one of the good ones in Ottawa. But even you were shut down by those wanting power over the whole country.

The Iron Law of Bureaucracy. Those committed to the organization will always take the upper hand over those committed to the causes.

Us millenials just want to be left alone and allowed to prosper without any interference from outside sources, is that too much to ask?

#161 jess on 10.17.19 at 1:45 pm

wealth
Brain Behind Wealth Tax Makes New Case for Soaking Billionaires
By Ben Steverman
October 15, 2019, 12:43 PM EDT

Berkeley’s Zucman says richest are paying lowest tax rate
Economist’s ideas are being embraced by Sanders and Warren
https://www.bloomberg.com/news/articles/2019-10-15/brain-behind-wealth-tax-makes-new-case-for-soaking-billionaires?srnd=economics-vp

#162 jess on 10.17.19 at 1:50 pm

massive kickback scheme
Ex-Credit Suisse Banker Hid $45 Million, Names Four Others
By Patricia Hurtado
October 16, 2019, 8:46 PM EDT Updated on October 17, 2019, 1:13 PM EDT

Pearse testifies to bribes in $2 billion Mozambique scandal
Banker identifies more former colleagues he says made millions

https://www.bloomberg.com/news/articles/2019-10-17/ex-credit-suisse-banker-says-he-hid-45-million-worth-of-bribes