Threats

A brief update on this pathetic blog. It’s been eleven years of dogs, balanced portfolios, taxes, chiseled abs, moister-bating, house porn and fighting with infidels, xenophobes and now the Wexit whackos. It contains 3,590 posts (2.7 million words, or the equivalent of 44 books) and 632,033 comments, not counting the 14 million that were deleted. As you may have noticed, unlike TikTok, there’s no dancing here. No lip-synching. Or pneumatic sixteen-year-olds.

Impossible to know how long it will continue. Like the corner milk store this blog is open seven days a week with fresh product. It accepts no ads, generates no income and sometimes immensely irritates Dorothy. “Are you reading comments again?” is usually the warning signal. I lie.

Well, webmaster William Stratas sent over some stats you might find interesting. They come from Cloudfare, the thingy that sits between us and the hosting server (wherever that is) and is tasked with repelling bots and other malcontent attackers. Last month there were 3,544 threats detected and squished. Of those 1,800 came from Slovenia (seriously), 826 from Canada, 465 from the States, 51 from Ukraine and 402 from elsewhere. The good news is that threats in November were 17% lower than October. Sounds significant, but I have no idea why

These were the top traffic locations: Canada accounted for 5,243,905. Just over a million came from the US. France (?) clocked in at 191,758 and Cyprus (??) counted 73,124. Another 656,475 emanated from other places.

What does this mean?

No idea. In the context of our online world a blog on money from Canada written by some old white dude is as exciting as colonoscopy research. And just as fun. But there’s apparently a need for this drivel at a time when most people are going backwards with their finances, making dodgy decisions and being whipsawed by greed and fear. So it continues for a while. All I can promise you is there will be no team dancing routines to a Drake soundtrack. Death would be a relief.

On Sunday we told you the feds would soon table legislation for a sort-of tax cut. Well, the official announcement came just one day later. Bill Morneau, our billionaire finance minister, gave a presser with Mona Fortier to unveil the increase in the personal exemption, to $15,000.

Who’s Mona, you ask?

  She is our Minister of Middle Class Prosperity. The 47-year-old was first elected two years ago in an Ottawa riding after my old House of Commons pal Mauril Belanger died of ALS. Mona’s qualifications to look after the middle class? She was the flack for a local community college, ran her own one-woman communications outfit and was Liberal campaign manager for Belanger.

When asked what the middle class is, exactly, and who’s in it, this was her response after being sworn in last month: “I define the middle class where people feel that they can afford their way of life. They have quality of life. And they can … send their kids to play hockey or even have different activities. It’s having the cost of living where you can do what you want with your family. So I think that it’s really important that we look at, how do we make our lives more affordable now?”

Um. Okay. Thank you, Minister.

So, on cue, they announced it. But that higher personal exemption level will take almost four years to phase in. The tax savings for most families in 2020 will amount to two tanks of gas, minus the carbon levy. Having said that, the Liberal plan will eventually remove another 1.1 million families from the tax rolls, meaning more of the burden will fall upon the shoulders of a diminishing group of people. On Monday Morneau made a point of saying nothing the government is doing will reduce the taxes of 1%ers. Obviously those families don’t have hockey-playing children or financial pressures. They’re just supposed to pay up.

Morneau will have an economic statement before Christmas, he adds. That means in the next ten days. A budget two months later.

So the advice here stands. Maximize your RRSP contribution for 2019. Open a spousal plan and use that if there’s an income disparity. Fill up the TFSAs on January 2nd. Make a RESP contribution by the end of the month. Gift your adult kids money for their tax-free accounts. Sell off any pooched securities so you can use the loss to reduce capital gains. Loan your squeeze money to invest this month and s/he won’t have to make an interest payment for a year. Use Form 1213 to reduce taxes withheld at source when you do the RRSP contribution. Over 60? Apply for your CPP. Turned 71 this year? Convert the RRSP to a RRIF by the end of the month. If your spouse is younger, keep investing in a spousal. Need to raid your TFSA? Do it this month so it can be repaid any time after January 1st. Otherwise you may wait a year. Delay buying investment funds that have year-end capital gains distributions. Pay child care expenses by December 31 and get a receipt.

Remember, Mona wants you to stay in the middle class. This is how.

 

159 comments ↓

#1 Lefty on 12.09.19 at 3:15 pm

Good to know the fate of Canada’s middle class rests squarely on her feelings.

#2 bdwy striking? on 12.09.19 at 3:15 pm

Another 656,475 emanated from other places.

What does this mean?
———————
i think it means; some/many blogdogs travel the world from time to time and enjoy/are addicted to the baying hounds in the pound.

#3 Mary Thompson on 12.09.19 at 3:20 pm

What a joke this is. Liberals destroy the middle class and increase poverty everyday. I know quite a few Liberals that get alot of benefits and other free stuff from the government, work for a government municipal, provincial, federal or some type of agency and they are more broke today then years ago.

Canadians for the first time have $100 billion in credit card debt and with all the carbon taxes and other taxes going up 3.5 to 5 times stated inflation rates from property taxes, water rates, electricity rates, income taxes etc.

Liberals and their friends, NDP, Greens etc. are all poverty creators not poverty reducers. They are all liars and thieves. They say that inflation is low and then say food bank use is up alot because of the high cost of living. People know this is all a sham.

#4 ElGatoNerodeYVR on 12.09.19 at 3:25 pm

Garth, we keep coming here because you have a good mix of reality check,personal opinion and entertainment in your blog posts and replies. And of course the comments section makes for a good entertaining, relevant statistical sample on the pulse of the nation,mostly the ones that have a clue that is. Keep it up.

#5 Yukon Elvis on 12.09.19 at 3:33 pm

Last month there were 3,544 threats detected and squished. Of those 1,800 came from Slovenia (seriously).
………………………..

You have pissed of the Slovenians. I wouldn’t want to be you right now. I hope your dog has good hearing.

#6 Overheardyou on 12.09.19 at 3:41 pm

Just wanted to give a sincere thank you for this invaluable advice!

#7 n1tro on 12.09.19 at 3:49 pm

Oh god. A response to a question with a question. I need hookups to these well paid dumbass jobs please! If I don’t qualify because of my pesky Y chromosome, I swear I “feel” like a woman inside if that helps the hiring process along.

#8 IHCTD9 on 12.09.19 at 3:50 pm

#124 Tater on 12.09.19 at 12:51 pm

…but you’d have a bunch of people like IHCTD9 screaming about finally paying their fair share.

———

Sorry to disappoint T, but I’ll never have to scream. Not in this country, not for a good long while yet. I pay jack for taxes, and you can thank Trudeau for a good fat slice of that outcome. Life was a lot tougher under Harper for sure, but those days are gone, and probably for good too if Scheers’ platform last election is any indication going forward.

Looks like I get another income tax cut, and another increase in CCB (ie YAMAHA bucks). No surprise, that’s exactly why I have never voted for Trudeau. My thanks to those that did though!

I’m getting the feeling that Trudeau/Singh type politicians will be in power for a long time yet, and while I’ll never vote for that kind of leadership, I have to admit Trudeau has been delivering on his “sunny ways” promises – well, at least at the IHCTD9 bunker complex he is (specifically in the garage area).

Anyway, I still like to avoid taxes further in my spare time. Next year, my heating bill will be cut over 90% no taxes paid – on the heating unit or the fuel. I will also be ordering new tires for my truck from the local FNR, no taxes paid. This spring I look forward to another 5 figure tax return (funny eh?). Yesterday, I slapped a new wheel bearing on Ms. IH’s car in about an hour – tax free part from the Rez, shade tree mechanic fee for install was $0.00, and no tax either of course. Finally, I was happy to hear my public sector working better half’s employer just received additional funding, so everyone got a raise, so I kinda got a raise too! The new CCB increases will continue to go into the YAMAHA envelope.

So… who did you vote for last election Tater?

#9 FreeBird on 12.09.19 at 4:02 pm

I was told/read CPP can be applied for starting one month after your 59th birthday and payments can start on your 60th birthday. Theory is to get ahead of the game. You can rec’v it while still working but…

https://www.canada.ca/en/financial-consumer-agency/services/retirement-planning/working-collecting-pension.html

Don’t forget other (legal) claimable expenses like medical. If you have enough it’s worth it.

https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-filing-season-media-kit/tfsmk4-medical-expenses.html

If self employed and don’t have an accountant at min invest in an annual review with a good one (look around don’t just pick your in-law or friend’s). You can claim the fees…like financial advisors. For others I think H&R has a refund guarantee. Good luck all.

#10 Phylis on 12.09.19 at 4:02 pm

Now i feel low class and subsequently shut out by the middle. Where’s the low class minister?

#11 MF on 12.09.19 at 4:04 pm

How is wanting to keep at least half your income ‘greedy’? – Garth

-It’s not. The possible changes you wrote about are a stupid idea in a long line of stupid ideas tabled to “help the middle class” but will do the opposite.

I was talking more about the ultra rich who use tax havens like The Cayman Islands to avoid taxes. This type is person won’t be missed.

Today’s blog has some great, withering sarcasm though. Can kind of guage our host’s mood as he writes these hilarious statements, and he must be a little peeved today:

-“the feds would soon table legislation for a sort-of tax cut.”

-“Bill Morneau, our billionaire finance minister, gave a presser with Mona Fortier to unveil the increase in the personal exemption, to $15,000”

“She was the flack for a local community college, ran her own one-woman communications outfit and was Liberal campaign manager for Belanger.

-“Um. Okay. Thank you, Minister.”

-“The tax savings for most families in 2020 will amount to two tanks of gas, minus the carbon levy.”

-Obviously those families don’t have hockey-playing children or financial pressures. They’re just supposed to pay up.”

We not only get great commentary and sound financial advice. We get some comedy too.

That’s why there are readers all over the world.

MF

#12 n1tro on 12.09.19 at 4:04 pm

#5 IHCTD9 on 12.09.19 at 3:50 pm

…Finally, I was happy to hear my public sector working better half’s employer just received additional funding, so everyone got a raise, so I kinda got a raise too!
—————
Does your wife perhaps have younger (hot? although not an essential requirement) sister who also works in any branch of government she can introduce me to? With my single income and hers, we’d be top 5%!

#13 Mf on 12.09.19 at 4:07 pm

Here’s another way to save on taxes. Cut back on alcohol! It’s highly taxed! You will also benefit by being healthier.

#14 Figure it Out on 12.09.19 at 4:09 pm

DELETED

#15 FreeBird on 12.09.19 at 4:09 pm

#7 n1tro on 12.09.19 at 3:49 pm
I swear I “feel” like a woman inside if that helps the hiring process along.
————————
Shania said the same…
https://m.youtube.com/watch?v=DDkCe2cUHAA

#16 Sail away on 12.09.19 at 4:12 pm

Well, Mona sure talks good.

If she ministers as good as she talks, it’s gonna have some middle class affording things.

#17 Figure it Out on 12.09.19 at 4:18 pm

DELETED

#18 Blackdog on 12.09.19 at 4:26 pm

Of course those who read here are too well-off for this to be a concern (right Garth?), but in the off-chance someone cares, just want to point out that if you are collecting CPP while working, should you lose your job, your EI benefit will be reduced by your CPP benefit.

#19 IHCTD9 on 12.09.19 at 4:29 pm

#11 MF on 12.09.19 at 4:04 pm

-It’s not. The possible changes you wrote about are a stupid idea in a long line of stupid ideas tabled to “help the middle class” but will do the opposite.
—- –

QFT, and put the last 5 words in bold. Mix this thought with Nonplused’s ideas that taxes always get paid by the 90% as they all get baked into the cost of living to see why.

The best thing Trudeau and his bird brained cabinet could do, is take a 4 year sabbatical. We’d all be better off if they just stopped trying to help.

#20 Prairieboy43 on 12.09.19 at 4:31 pm

Tax savings. Greenhouse gas emitters. Video downloads…..

https://theshiftproject.org/wp-content/uploads/2019/07/2019-02.pdf

Pb43

#21 IHCTD9 on 12.09.19 at 4:34 pm

#12 n1tro on 12.09.19 at 4:04 pm
#5 IHCTD9 on 12.09.19 at 3:50 pm

…Finally, I was happy to hear my public sector working better half’s employer just received additional funding, so everyone got a raise, so I kinda got a raise too!
—————
Does your wife perhaps have younger (hot? although not an essential requirement) sister who also works in any branch of government she can introduce me to? With my single income and hers, we’d be top 5%!
——

She does, she actually has three pretty damn hot younger Sisters, and the youngest two both have govy jobs!

Sadly, all have been taken – but I’ll keep an eye out for you! :D

#22 Figure it Out on 12.09.19 at 4:37 pm

DELETED

#23 Sierts - the simple answer to "why?" on 12.09.19 at 4:42 pm

… Another 656,475 emanated from other places.

What does this mean?

No idea. In the context of our online world a blog on money from Canada written by some old white dude is as exciting as colonoscopy research.

———————-

These 650 thousand (and many more) are people, who screen the world to find places where their nest-eggs could be safe.

Canada always had a name as a quiet, safe country, that is foreigner friendly. (update necessary?)

Those of us, who found this blog, learned a lot about investing in general – and, that Canada offers less oportunities for us, than we thought/hoped for.

That we stay, might have to do with the dogs and the drama in the grey section.

#24 Dat Mona ... on 12.09.19 at 4:43 pm

she be in a class of her own.

#25 dirtydebtor on 12.09.19 at 4:50 pm

Checking in from down under Gartho. Tax refugee who fled the frozen north years ago for warmer climes and tax reduced bottom lines at the other pole. Whats your readership #s like from OZ & NZ?

#26 Smartalox on 12.09.19 at 4:51 pm

Who is the middle class? That proportion of the population that makes more income than the lowest quartile (25%) of income earners, and less than the highest quartile (25%) of income earners. In the 2016 census, that means, for a single 40-year old, you’re middle class if you earn between income $24,082 to $70,275.

Double ($48 164 to $140 550) that for a dual-income household.

If you make more than that, you’re upper class. If you make less, you’re in the lower class.

For reference: https://www12.statcan.gc.ca/census-recensement/2016/dp-pd/dv-vd/inc-rev/index-eng.cfm

But in reality, and for practical purposes, ‘middle class’ is anyone that has access to credit, and is not living paycheque to paycheque.

Kind of ironic that the Trudeau government is promoting the ‘middle class’ lifestyle, since the global growth and promotion of the middle-class lifestyle to hundreds of millions of people – and particularly the conspicuous consumption that comes with it – has been the greatest driver of carbon emissions that are causing climate change, as well as other forms of pollution that are ruining the planet.

#27 n1tro on 12.09.19 at 4:58 pm

#5 IHCTD9 on 12.09.19 at 3:50 pm

She does, she actually has three pretty damn hot younger Sisters, and the youngest two both have govy jobs!

Sadly, all have been taken – but I’ll keep an eye out for you! :D
—————–
Over 50% divorce rate so I think my chances are good given the 2 (possibly 3 choices). We should start the pre-lim introductions now. Please forward the following profile for their consideration…

Have:
– 5′ 8″
– 170lbs
– actual abs
– almost 6 figure income in the six
– know how to work on and fix gadgets (no cars though)

Does Not Have:
– man bun
– any kind of skinny jeans
– facial hair (can’t seem to grow it in abundance – Movember is a sad month for me)
– self pity or any sense of entitlement
– any shame taking free government handouts (don’t hate the player, hate the game yo!)
– money from parents for GTA home deposit

#28 crowdedelevatorfartz on 12.09.19 at 5:03 pm

The Minister of Middle Class Prosperity
” She was the flack for a local community college, ran her own one-woman communications outfit and was Liberal campaign manager for Belanger.”

+++++

Another political hack rewarded for getting their boss elected.

When are taxpayers going to wake up and realize there are literally hundreds if not thousands of these “rewarded” jobs on the federal, provincial and municipal payrolls.
Useless, stupid bureaucrats that are uncecessary and needlessly expensive.
Want to balance the budget.
Have every staffer write an 500 work essay on what they do on a daily basis.
If it doesnt pass the smell test.
Fired.
THEN have a bunch of grade 4 kids mark the rest of them for spelling , grammar and punctuation.
Anyone with more than 5 mistakes….fired.
No severance..

I just saved Canada $ 5 Billion a year

#29 IHCTD9 on 12.09.19 at 5:08 pm

Who is the middle class?

https://www.theglobeandmail.com/politics/article-poll-finds-nearly-8-in-10-canadians-say-they-are-part-of-the-middle/

Looks like just about everyone thinks they are middle class. That’s probably why politicians are falling all over themselves pandering to them.

True though. We make more than double the median income in our area, so we are effectively “richer” in this city. Plop us into downtown Toronto at the same income, and we’d instantly become renters. So I feel upper middle class here in Hicksville, but I’d feel poor in Toronto.

So Mona may not be too far off the mark basing her definition on feels, or more accurately – individual circumstances.

Of course, when you then start talking about taxing rich folks (almost no one) to help the middle class (almost everyone), then you are either wilfully lying, or dumb as a stump.

(…or trying to get elected.)

#30 Anxious Millenial on 12.09.19 at 5:14 pm

What is a good career to get into nowadays in this country for someone who has a useless science degree but no idea on how to handle the uncertain future due to automation, Canadian resource sector decline etc.?

#31 Amelie Poulin on 12.09.19 at 5:17 pm

“3,590 posts (2.7 million words, or the equivalent of 44 books”

I think you can easily crank 746 books out of this many words. Think about it! And each book would still have way more substance than the typical book that millenials read. And they might even buy ’em! (from the bargain bin, mind you)

#32 Sail away on 12.09.19 at 5:18 pm

#13 Mf on 12.09.19 at 4:07 pm

Here’s another way to save on taxes. Cut back on alcohol! It’s highly taxed! You will also benefit by being healthier.

————————————-

Why complicate things and deny yourself?

It’s easier to save taxes by not buying stuff that’s taxed.

My neighbour’s still runs year-round. White lightning $12/bottle when bought by the case. No tax.

#33 BlogDog123 on 12.09.19 at 5:20 pm

Hey, I faxed my T1213 last year, response letter came faster than snail mail…

This year at the tax office, they’re slow like molasses, hurry up, gotta give that form to Payroll to keep my paycheques bigger starting in January.

“It’s my money and I want it now!” like the commercial says…

Yes you gotta fill out that T1213 form every year with your anticipated RRSP self-directed contribution and other deductibles because Ottawa wants your money first and then make you beg for it back in April with your tax return.

#34 IHCTD9 on 12.09.19 at 5:23 pm

#27 n1tro on 12.09.19 at 4:58 pm
#5 IHCTD9 on 12.09.19 at 3:50 pm

She does, she actually has three pretty damn hot younger Sisters, and the youngest two both have govy jobs!

Sadly, all have been taken – but I’ll keep an eye out for you! :D
—————–
Over 50% divorce rate so I think my chances are good given the 2 (possibly 3 choices). We should start the pre-lim introductions now. Please forward the following profile for their consideration…

Have:
– 5′ 8″
– 170lbs
– actual abs
– almost 6 figure income in the six
– know how to work on and fix gadgets (no cars though)

Does Not Have:
– man bun
– any kind of skinny jeans
– facial hair (can’t seem to grow it in abundance – Movember is a sad month for me)
– self pity or any sense of entitlement
– any shame taking free government handouts (don’t hate the player, hate the game yo!)
– money from parents for GTA home deposit

———

I think you should forward that “Man Resume” to the local ladies in the 6ix, you should then have an army of young ladies kicking in your front door!

I think these SIL’s of mine are probably not the easily divorcing type, but I’ll fire you a heads up if I’m wrong!

If you became my BIL, I can only imagine the political discussions over Christmas dinner lol!

#35 Linda on 12.09.19 at 5:31 pm

#9 ‘Free’ – unless they’ve changed the rules, the first CPP payment occurs the month AFTER you turn 60. Those who elect to wait obviously don’t receive before applying for same. Yes, one must apply. Forget to apply on the expectation funds will automatically arrive upon turning 65 will lead to disappointment. Further, if one waits more than 12 months after turning 65 to apply the government will only backdate payments for 12 months max. You snooze, you lose & BTW, that backpay option only applies to those who are aged 65 plus. Those who take CPP before age 65 start the month after their application is granted so if you want to take it at age 60 make sure you apply at least six months prior to your 60th birthday.

A Minister for Middle Class Prosperity? Is that an actual post/title? I’d ask if this is meant to be a joke, but if true the joke is at our expense. Literally.

#36 Sask to AB on 12.09.19 at 5:37 pm

Thanks for all the great advice, Garth!
Much appreciated.

F56AB

#37 Smoking Man on 12.09.19 at 5:42 pm

Another good reason to leave Canada.

Apart from a lower cost of living and much higher income in the USA

In the USA When filling up the gas tank there is a clip that holds down the trigger which allows you to tose garbage, clean your windows or do nothing while your tank gets filled.

Not in commie Canada..the clip is removed. The loyal subjects just have freeze their butts off while filling up.

Back to SoCal tomorrow, can’t wait.. didn’t see the sun once since I got here last week….

#38 Blackdog on 12.09.19 at 5:47 pm

@N1tro, 5’8″. That’s it? Hopefully you have other, larger measurements which can compensate.

#39 Texasboy on 12.09.19 at 5:58 pm

I am one of those from the US and occasionally other countries when I travel. I don’t come here for tax avoidance tips (US tax rules aren’t the same). I just enjoy your writing style and perspective on life in general.
I do like the focus on balance and diversification as that is absolutely the way to go. I’ve been very fortunate to be (after many years of hard work) a 1%er. My advisor certainly helps as I am plenty busy with other things.

Thank you Garth for the entertainment and education.

#40 Shirl Clarts on 12.09.19 at 5:59 pm

#13 Mf on 12.09.19 at 4:07 pm
Here’s another way to save on taxes. Cut back on alcohol! It’s highly taxed! You will also benefit by being healthier.

^^^^^^^^^^^

Indeed. 2019 was the year I quit alcohol completely. No beer. No wine. No need, really. It’s not a food group, rather some form of entertaining stimulant that after awhile becomes boring. I’d rather buy the odd lotto ticket. At least it’s not a 100% pissed away guarantee.

#41 Barb on 12.09.19 at 6:03 pm

“…That’s why there are readers all over the world. ”

Bet at least 30/month are from Morneau’s office.
Sixty, if Butts’ office clicks too.

#42 IHCTD9 on 12.09.19 at 6:14 pm

#36 Blackdog on 12.09.19 at 5:47 pm

@N1tro, 5’8″. That’s it? Hopefully you have other, larger measurements which can compensate.
——

Link us to a pic of yourself.

I’m guessing we can find a few things about your appearance that we can sh!t all over too.

#43 Shirl Clarts on 12.09.19 at 6:15 pm

Meanwhile, on the west coast, my first 2 Christmas cards to arrive in my mailbox? Realtor and mortgage broker. Seriously.

#44 Borden Renter on 12.09.19 at 6:27 pm

Hey Garth!

When the day comes when you have to shutter the place, why not have that webmaster of yours make a ‘Greater Fool Forum’? That way, all the people that have gathered here over the years can fight in perpetuity! And you could drop by to remind us to be smart with our money once in a while…

Just a thought.

#45 Stan Brooks on 12.09.19 at 6:28 pm

In the land of the stupid brain-frozen idiots everything is possible:

https://ca.finance.yahoo.com/news/downtown-toronto-condo-prices-compared-to-manhattan-190256269.html

Soon they will compare the shitty townhouses at Bayview and John, then ‘apartments’ at Jane and Finch with the billionaires row in Manhattan.

Yep, Toronto is cheap, Sure.

Cheers, stupid!

And guess what the horse face french villa guy has in store for the doctors and small businesses, surprise, surprise, lubricant/Vaseline stocks to skyrocket.

Balance and diversification does not matter when you have thieves stealing the fruit of your labour and investments.

#46 Lisa on 12.09.19 at 6:30 pm

Garth, you didn’t mention the part about the personal exemption getting rolled back at income of 147K and over….which apparently is too high for the NDP….could you address this please?

#47 crowdedelevatorfartz on 12.09.19 at 6:32 pm

@#35 Linda
“A Minister for Middle Class Prosperity? Is that an actual post/title? I’d ask if this is meant to be a joke, but if true the joke is at our expense. Literally.”
++++

Sadly.
Its not a joke.

“Because it’s 2019…..”

#48 crowdedelevatorfartz on 12.09.19 at 6:36 pm

@#43 Shirl Chart
“….on the west coast, my first 2 Christmas cards to arrive in my mailbox? Realtor and mortgage broker…..”
+++++

Damn!
And I thought I was “special”.

#49 crowdedelevatorfartz on 12.09.19 at 6:44 pm

@ n1tro

You could always move to Finland to meet young , successful women…..

https://www.reuters.com/article/us-finland-government-finmin/finland-picks-worlds-youngest-pm-to-head-women-led-cabinet-idUSKBN1YD0IN

#50 IHCTD9 on 12.09.19 at 6:47 pm

#40 Shirl Clarts on 12.09.19 at 5:59 pm

Indeed. 2019 was the year I quit alcohol completely. No beer. No wine. No need, really. It’s not a food group, rather some form of entertaining stimulant that after awhile becomes boring. I’d rather buy the odd lotto ticket. At least it’s not a 100% pissed away guarantee.
————

Some folks may actually benefit from moderate alcohol consumption:

https://consumer.healthday.com/encyclopedia/substance-abuse-38/misc-alcohol-news-13/alcohol-and-the-heart-645550.html

“More than 60 studies suggest that moderate alcohol consumption is associated with a reduced risk of coronary heart disease. If you drink moderately, in fact, you are 40 percent less likely to develop coronary heart disease than nondrinkers are.“

“Some folks” being those who are sedentary and have a history of heart attacks in the family.

#51 45north on 12.09.19 at 6:53 pm

Bill Morneau, gave a presser with Mona Fortier to unveil the increase in the personal exemption, to $15,000.
Who’s Mona, you ask?
She is our Minister of Middle Class Prosperity.

I suppose she’s going to show up at more pressers. I’m thinking about the announcement of the contract to build destroyers, and the continued expansion of rapid transit in the GTA. I mean these projects will advance middle class prosperity, but if Ontario doesn’t have a reliable supply of petro-products like gasoline and diesel fuel then middle class prosperity is going to ring hollow.

The Liberal Government needs to build a pipeline to Ontario as well as the refineries to supply it with a reliable source of petro-products. To get a sense of this, Mona Fortier needs to sit on the overpass where Highway 7 goes over Highway 400, on just about any day of the week. Look up and down the Highway. This is the middle class!

#52 Sail away on 12.09.19 at 6:55 pm

#36 Blackdog on 12.09.19 at 5:47 pm

@N1tro, 5’8″. That’s it? Hopefully you have other, larger measurements which can compensate.

———————————–

He probably has two giant middle fingers waving your way, you jerk.

#53 B on 12.09.19 at 7:07 pm

From Slovenia?
Yet another country where people proverbially believe house prices always go up. Except during last 10 years of stagnation – and they are not yet over the average price from 2008. Real estate tax is continually being postponed by governments. And large portion of the population had and used opportunity to buy public/state condos for peanuts in the 90’s. Ownership rate is constantly above 70%.

On the other note, thank you, Garth, for all the wisdom.

#54 Shawn Allen on 12.09.19 at 7:10 pm

The Personal Amount

Not trying to point out a distinction without a difference… but…

Technically it is a refundable tax credit and not an exemption. For example the first $12,069 (the 2019 personal amount) of income is still considered taxable income even though the personal tax credit amount will mean it is not taxed.

Not a lot of difference from an exemption of course but just if you are looking at what your taxable income is, this is not a deduction from taxable income.

#55 TurnerNation on 12.09.19 at 7:15 pm

At this level of taxation is it 100% a scam by the elites to take our cash. Slavery with a smile.
How are all those new roads, hospitals and schools working out for you?
Ready for your local hospital’s next fund raising drive for basic equipment?

https://pm.gc.ca/en/news/news-releases/2016/02/08/prime-minister-sets-new-course-address-crises-iraq-and-syria-and

“The Government of Canada will contribute more than $1.6 billion over the next three years towards its new approach to security, stabilization, humanitarian and development assistance in response to the crises in Iraq and Syria, and their impact on Jordan and Lebanon.”

#56 SoggyShorts on 12.09.19 at 7:17 pm

#30 Anxious Millenial on 12.09.19 at 5:14 pm
What is a good career to get into nowadays in this country for someone who has a useless science degree but no idea on how to handle the uncertain future due to automation, Canadian resource sector decline etc.?

***********************
Umm… if you have a science degree and are concerned about the future due to automation, could you maybe go into…automation? Just a thought.

Or is the “science” part of your “useless degree” the science of gender studies/interpretive dance?

#57 Debtslavecreator on 12.09.19 at 7:18 pm

Cutting taxes for many who don’t contribute to the tax base when the government is running massive and about to grow deficits is beyond FRAUDULENT

It’s cruel

Essentially you’ll get even more “low income “ parents living off the system and really what’s happening is junior is having mom live today by racking up the line of credit in juniors name

Liberals and other deluded left wingers keep increasing the motivation to depend on governments and reward people for making low income

What a scam !

The game will come to end within the next 5-7 years
Then I want to see these hordes of dependants whine

I cannot believe what’s happening to this country
What the hell is going on

#58 Trojan House on 12.09.19 at 7:32 pm

Hey, what about the Ministry of Income & Gender Equality and Getting Rid of Poverty???

#59 Blackdog on 12.09.19 at 7:34 pm

@Sail Away #52,

My apologies for offending you while trying to jest with N1tro. That attempt at humour was a fail apparently.

@N1tro Hopefully you weren’t as bothered as Sail Away. I actually like short guys with big measurements, so not meant to be an insult. Sorry if it was. :)

#60 Long-Time Lurker on 12.09.19 at 7:35 pm

#122 N on 12.09.19 at 1:12 pm

While there hasn’t been a recession to accelerate insolvency filings, what we have seen in the last two years is a different pressure: a disproportionately large increase in those who can no longer balance their budget with debt….

This time around, financial distress isn’t due to a loss of income, but rather a shortage of income to cover expenses and debt repayment.

For an increasing number, the heavy debt loads and continuous borrowing they have maintained for several years now has reached the point of being unsustainable. Access to more credit to delay insolvency is no longer an option.

Our average client spends 40% of their monthly net income on housing costs. We also know that today, roughly 95% of those filing insolvencies in Ontario are renters.

https://www.hoyes.com/blog/10-top-debt-statistics/

>You should send that message to your MLA and MP.

#61 Long-Time Lurker on 12.09.19 at 7:36 pm

#34 IHCTD9 on 12.09.19 at 5:23 pm
#27 n1tro on 12.09.19 at 4:58 pm
#5 IHCTD9 on 12.09.19 at 3:50 pm

She does, she actually has three pretty damn hot younger Sisters, and the youngest two both have govy jobs!

Sadly, all have been taken – but I’ll keep an eye out for you! :D
—————–
Over 50% divorce rate so I think my chances are good given the 2 (possibly 3 choices). We should start the pre-lim introductions now. Please forward the following profile for their consideration…

>This place is becoming quite the hook-up site.

Garth, monetize!

#62 Lawnboy on 12.09.19 at 7:47 pm

#30 Anxiously Mill:

I was once told to make it the world you should “rob banks or get a trade “!!!
It worked out for me.

LB

#63 IHCTD9 on 12.09.19 at 7:52 pm

#59 Blackdog on 12.09.19 at 7:34 pm
@Sail Away #52,

My apologies for offending you while trying to jest with N1tro. That attempt at humour was a fail apparently.

@N1tro Hopefully you weren’t as bothered as Sail Away. I actually like short guys with big measurements, so not meant to be an insult. Sorry if it was. :)
—- –

Just for future reference, making fun of a guy’s height and hoping he’s packing a torpedo as compensation will not be received as funny – ever.

#64 Bytor the Snow Dog on 12.09.19 at 7:53 pm

#8 IHCTD9 on 12.09.19 at 3:50 pm:
———————————–

I love the way you keep trolling these idiots! Well done! Alas it will fall on deaf ears.
—————————————–
@Blackdog:

I’m sure you’re a prize peach yourself.

#65 avocado latte on 12.09.19 at 8:03 pm

Any word on how the claw-back of the personal exemption will be implemented? Is it safe to say if one makes over 200,000 one can expect to pay the full 15% on this 15,000? i.e. an extra 2250 in taxes? What’s next? will they be getting rid of marginal tax brackets?

#66 akashic record on 12.09.19 at 8:03 pm

#30 Anxious Millenial on 12.09.19 at 5:14 pm
What is a good career to get into nowadays in this country for someone who has a useless science degree but no idea on how to handle the uncertain future due to automation, Canadian resource sector decline etc.?
***********************

Social justice enforcement.

Every company, organization that matters needs this, like they need lawyers and accountants to exist.

#67 ImGonnaBeSick on 12.09.19 at 8:07 pm

#13 Mf on 12.09.19 at 4:07 pm
Here’s another way to save on taxes. Cut back on alcohol! It’s highly taxed! You will also benefit by being healthier.
———-
This has got to be the worst effin’ advice I’ve ever heard on this blog.

#68 Duffy on 12.09.19 at 8:18 pm

The way the first half of your blog was going Garth I thought it was going to be a bow out. We all know that day will come. You are a trooper wading through ankle deep mud at times . . . . . . as far as I know, here in the trenches they haven’t called a truce yet so we’ll just party on with Miss Vera Lynn . . . .
https://www.youtube.com/watch?v=ZSMuTm649Hk

#69 Flop... on 12.09.19 at 8:19 pm

Thor, just hit the accepted button.

Go and make yourself a cuppa.

Don’t even read it, as it will burn your eyes…

M45BC

“The Investment of the Decade: Bitcoin vs. World’s Megacorps.

Investors are in the game to make money. They chase yield around the world, looking for ways to generate higher returns than everyone else. And it turns out, even with the stock market rising to all-time highs and Bitcoin suffering another pullback, investing in cryptocurrency very early on was still a brilliant strategy.

Bitcoin blows away any other investment considered in our chart. If you had invested $100 ten years ago, you’d have $9.2M today.

Amazon’s stock is the top performer out of the 10 biggest companies, coming in at $3.3K.

Only 3 other companies generate returns above $1,000, including Apple ($2.4K), Visa ($1.7K) and Microsoft ($1K).

Alibaba’s stock performed the worst in our analysis, barely doubling an initial investment of $100 to $208.
We plotted the stock prices according to Yahoo Finance for the 10 largest companies measured by market capitalization. We found the stock prices as of January 2, 2009 with the exceptions of Bitcoin, Facebook and Alibaba, which weren’t public yet. In these situations, we assumed $100 was invested as soon as possible. We compared these numbers to the market price on December 3, 2019, excluding stock splits and dividends. This lets you easily see Bitcoin’s dominance over the last several years.

Total Return (%) on an Initial $100 Investment 10 Years Ago

1. Bitcoin: 9,150,088%
2. Amazon: 3,156%
3. Apple: 2,345%
4. Visa: 1,597%
5. Microsoft: 899%
6. JP Morgan: 433%
7. Facebook: 420%
8. Berkshire Hathaway: 228%
9. Johnson & Johnson: 216%
10. Walmart: 171%
11. Alibaba: 108%

Even with Bitcoin’s latest price implosion, the cryptocurrency has still created an astonishing 9,150,088% return. Other companies like Amazon (+3,156%) and Apple (+2,345%) are still impressive, but nothing truly compares to the king of the crypto world.

There’s no doubt Bitcoin’s price has fluctuated dramatically over the last 2 years, reaching almost $20,000 in December 2017 before imploding below $3,500 in November 2018. It now trades at $7,475 as of this writing, down from almost $12,000 in August this year. Sometimes stock prices for individual companies can change substantially too. For example, GE’s price fell off a cliff over the last 3 years, dropping from about $30 in late 2016 to about $10 today. But that’s a notable exception, and not as fast moving compared to Bitcoin. For the most part, stock market prices for individual companies aren’t so volatile, especially ones with predictable business models and multi-billion dollar market capitalizations.

Bitcoin has received its fair share of negative attention despite its performance. Jim Cramer lampooned the cryptocurrency as “Monopoly money,” predicting it would get “annihilated.” Jamie Dimon famously called Bitcoin a “fraud” before his bank started investing in blockchain technology. And a major study accused Bitfinex of intentionally manipulating the entire Bitcoin market, thereby swindling investors of their money.”

https://howmuch.net/articles/biggest-companies-vs-bitcoin-last-decade-performance

#70 Nonplused on 12.09.19 at 8:37 pm

“I define the middle class where people feel that they can afford their way of life. They have quality of life. And they can … send their kids to play hockey or even have different activities. It’s having the cost of living where you can do what you want with your family. So I think that it’s really important that we look at, how do we make our lives more affordable now?”

Well, carbon taxes aren’t going to help with that because it takes a fair amount of electricity to keep the ice on the rink. It’s probably the single largest expense a hockey rink has. I’m talking indoor of course, outdoor rinks are unreliable and depend on the weather. So hockey fees will be going up.

The refs are going to have to be paid more because it’s going to cost them more to get to the arena. The parents are also going to pay more. Some leagues can travel up to 3 hours one way for games. That is a lot of carbon taxes.

So Mona can try and summon the spirit of Canada by talking about hockey, but what she really means is that if you thought it cost a lot before, just wait. Raising the personal exemption a little bit isn’t going to help. Not that people making $15,000 a year were putting their kids in hockey anyway. It is a very expensive sport, which is why it isn’t very international. I am not sure there is a sport that is more expensive to play. Not only is the equipment prohibitively expensive, especially as the children grow and need new skates every year, but a hockey arena is much more expensive to build and maintain than say a soccer field. Sure, with a soccer field the grass needs to be mowed once a week, but the Zamboni is out once an hour at least. Plus the refrigeration to make the ice. Plus the building.

So I think we can use the “bull$hit translator” to figure out what Mona actually said. It translates as thus: “As long as kids are still playing hockey there is room to raise taxes, and we will.”

That’s where we are at folks. The government is so desperate for money they are coming after your kid’s sports.

#71 Sail away on 12.09.19 at 8:41 pm

#59 Blackdog on 12.09.19 at 7:34 pm
@Sail Away #52,

My apologies for offending you while trying to jest with N1tro. That attempt at humour was a fail apparently.

—————————————-

You didn’t offend me. I just thought you were being a jerk. Two different things.

#72 IHCTD9 on 12.09.19 at 8:44 pm

#49 crowdedelevatorfartz on 12.09.19 at 6:44 pm
@ n1tro

You could always move to Finland to meet young , successful women…..

https://www.reuters.com/article/us-finland-government-finmin/finland-picks-worlds-youngest-pm-to-head-women-led-cabinet-idUSKBN1YD0IN
————-

According to this link:

https://globalnews.ca/news/3645936/where-are-canadas-singles-the-census-found-them/

…Toronto has the most single Women of any city in Canada. 710,000 single non married, non common law ladies between 20-60 y/o.

That number seems insane, but it would appear N1tro is right where he needs to be.

But, if he would rather have one of our highly desirable redneck ladies from outside of the gta, he just needs to join his local chapter of the G700OG (Grizzly 700 Owners Group).

I can tell you that the ladies can’t resist a young stud powering through a swamp astride a Tactical Black Griz 700 SE. They’ll come after you – running right through the muskeg and stagnant black water. Bloodsuckers and leaches be damned, the urge is too strong. Kind of like a modern day knight galloping along in shining (uh, muddy) armour.

Of course, N1tro’s washboard abs and big paycheque would still play to his advantage in this arena as well. Better for loading his date’s Griz on the trailer after a day’s ride, and better for buying more expensive model Grizzly 700’s of course.

#73 joblo on 12.09.19 at 8:45 pm

Pipelines who needs em eh Trudeau?

https://thestarphoenix.com/news/local-news/heavy-smoke-from-train-derailment-stops-highway-16-traffic

#74 Post Canadianist on 12.09.19 at 9:06 pm

Canada is dying now and will at some point start to decay. Wexit is the current discussion but it is just a symptom, it is not the disease.

The disease lies in economics, demography, and geography. Canada is not a united population on any of these fronts, and everything is going against keeping it together.

A cowboy from Alberta or even the interior of BC has much more in common culturally with the folks in Montana or Idaho than he does with someone from Toronto. Even the land is more similar.

But it is the demographics and the resultant economics that will ruin our so-called nation. There is no way the government can fund the promises they have made to all the retirees in Ontario and Quebec, no matter how confiscatory they make the tax laws. This is the real reason the Trudeau government seems so desperate to raise taxes of all sorts and impose new ones. Some analyst with a spreadsheet made a graph and showed them what the next 20 years looks like. Unavoidable bankruptcy of the federal government.

Immigration won’t help, although it might back-fill for lost low skilled (and thus low paid) labor. The talent that is immigrating goes to the US, where they get treated better and have more opportunity.

Wind farms won’t help because they are too far away from markets.

Technology won’t help because the folks who can contribute to that end up in the US.

Everything is stacked against Canada, and it will die. It has only survived as long as it has the same way the Soviet Union did; by selling oil. But it seems like that has played out as well.

Wexist is but a symptom. The ship is going down and people are running for the life boats. It won’t happen quickly, but 20 years from now Canada will be a failed state, with what young talent we do have desperately trying to flee and the government unable to pay its bills.

#75 Gravy Train on 12.09.19 at 9:08 pm

#30 Anxious Millenial on 12.09.19 at 5:14 pm
“What is a good career to get into nowadays in this country for someone who has a useless science degree but no idea on how to handle the uncertain future due to automation, Canadian resource sector decline etc.?” Are you just starting out in life? Are you investigative, artistic, social, enterprising, conventional or realistic? In other words, what is your Holland Code?
https://en.m.wikipedia.org/wiki/Holland_Codes

Do you like to work with people, data or things? Have you looked at the Occupational Outlook Handbook or the Occupational Information Network (O*NET)?
https://www.bls.gov/ooh/
https://www.onetonline.org/

I’d recommend that you read Dick Bolles’s book What Color is Your Parachute? (2020 version) to help you explore careers and then get a job in your chosen field. The chances of getting a job using the author’s methods are about 86%. :)

#76 Long-Time Lurker on 12.09.19 at 9:24 pm

Speculation:

Time for more speculation.

I theorize that the U.S. Fed has placed hundreds of billions of dollars into the U.S. financial system for the following reasons:

1. Deutsche Bank is a goner.
2. Deutsche Bank has billions in derivatives in the global market.
3. U.S. banks have Deutsche Bank derivatives and can’t get rid of them.
4. The U.S. banks know they have DB exposure and are afraid to lend to each other because of the risk of contagion. They don’t know how much DB-D each bank has and are afraid that someone could pull them down with them in the cliff dive.
5. The U.S. banks aren’t lending to each other so the overnight loan interest rate spiked up.
6. The U.S. Fed injected hundreds of billions of dollars into the U.S. banking system to act as the clearing house or insurance backstop to U.S. bank loans because U.S. banks are afraid to lend to each other.
7. The U.S. Fed is therefore ahead of the curve for DB going under and causing a Lehman Brothers global financial shock. The U.S. Fed just placed in a huge crash pad for the U.S. financial system.

Adjoiners:
1. The European Central Bank is behind the curve as they haven’t set up a monetary backstop/crash pad.
2. All eyes are on DB to see if it survives.

#77 crowdedelevatorfartz on 12.09.19 at 9:26 pm

@#72 IHCTD9
“Toronto has the most single Women of any city in Canada. 710,000 single non married, non common law ladies between 20-60 y/o.”
++++

Do they all live in Cabbagetown?

#78 crowdedelevatorfartz on 12.09.19 at 9:32 pm

@#73 joblo

re: derailments

https://thestarphoenix.com/news/local-news/heavy-smoke-from-train-derailment-stops-highway-16-traffic

yep, that Saskatchewan derailment was in farm land in Sask.
Amazes me that Quebec….after Lac Megantic ….. still insists…… rail cars full of oil, gas, propane are better than pipelines…..

#79 n1tro on 12.09.19 at 9:35 pm

#38 Blackdog on 12.09.19 at 5:47 pm
@N1tro, 5’8″. That’s it? Hopefully you have other, larger measurements which can compensate.
———
For a non born in Canada asian not weaned on the milk full of growth hormones, I’m pretty good when it comes to height.

As for other things to compensate….you mean like my supersport motorcycle that at over 8000 rpms, seems to vibrate the back tail where the ladies would sit? I’ve been meaning to get the vibration fixed but after riding, I always seem to be….how do I put it….somewhat distracted. :)

#80 Dr Oz on 12.09.19 at 9:38 pm

#50 IHCTD9 on 12.09.19 at 6:47 pm

“More than 60 studies suggest that moderate alcohol consumption is associated with a reduced risk of coronary heart disease. If you drink moderately, in fact, you are 40 percent less likely to develop coronary heart disease than nondrinkers are.“
____________________________________________

If you really want to avoid heart attacks, make sure you get enough vitamin K2 and magnesium.

For more info, read the books “Death by Calcium” and “Vitamin K2 and the Calcium Paradox”.

#81 yabba dabba doo... on 12.09.19 at 9:46 pm

And Now Just In:

Trudeau will have to Pander to the left…

should be an Interesting 2020….

#82 crowdedelevatorfartz on 12.09.19 at 9:54 pm

Breaking News!

Vancouver Realtors caught on film fighting over the only client they’ve had in months!

Caution. Some extreme language.

https://www.youtube.com/watch?v=M26ug8MGYlY

#83 n1tro on 12.09.19 at 9:54 pm

#72 IHCTD9 on 12.09.19 at 8:44 pm
#49 crowdedelevatorfartz on 12.09.19 at 6:44 pm
@ n1tro

You could always move to Finland to meet young , successful women…..

https://www.reuters.com/article/us-finland-government-finmin/finland-picks-worlds-youngest-pm-to-head-women-led-cabinet-idUSKBN1YD0IN
————-

According to this link:

https://globalnews.ca/news/3645936/where-are-canadas-singles-the-census-found-them/

…Toronto has the most single Women of any city in Canada. 710,000 single non married, non common law ladies between 20-60 y/o.

That number seems insane, but it would appear N1tro is right where he needs to be.

Of course, N1tro’s washboard abs and big paycheque would still play to his advantage in this arena as well.
—————–
The thing about the # of “available” women being in the GTA….one must ask….what’s wrong with them? Seriously. A good woman is a prize and should be easily scooped up by the plenty of hard working/decent guys out there.

Could it be with all the “empowerment” and “man bashing” of recent years has resulted in MGTOW being a real thing?

As for me, I gave up on cold, non approachable East coast women in my late 20s after spending a few years in the West coast for graduate school and seeing the difference. Maybe it’s the weather that make ladies like this(?).

Washboard abs or big paycheck, the ladies would never know as I have nothing to prove to anyone. If anything, I purposely dress like a bum to see which one sticks around.

#84 Gregor Samsa on 12.09.19 at 9:58 pm

>Cyprus

Uh-oh Garth, the Russian banksters have taken an interest in you (or perhaps in Canadian housing, a convenient laundering vehicle…)

https://outline.com/PAgk8G

#85 Mr Canada on 12.09.19 at 10:23 pm

The Minister of funny titles — “Minister of Middle Class Prosperity, and she earns $265,000 a year — things are looking way up !! YES !!

#86 Cici on 12.09.19 at 10:38 pm

Although invaluable, I don’t necessarily come here for the financial advice.

It’s the smart, entertaining content with substance that reels me in. If ever you do start a colonoscopy blog, I’ll surely be a loyal, avid and « regular » follower.

I actually discovered this blog by accident at a time in my life where I had ZERO interest in real estate and only scant interest in investing (due to lack of funds). My sister, a typical house-horny Victorianite, was going off on one of those tiresome but lustful B.C. rants about unfulfilled dreams of homeownership and all the causes and culprits of blame.

I went on my own little rant and put her right in her place. When I was done, she looked at me with astinishment and disgust and proclaimed « You sound just like Garth Turner! So, you follow him too, huh?! »

« Garth who? I asked. She couldn’t believe I’d never heard of the Almighty Garth. « You know, he used to be a conservative MP but now he’s a blogger… »

«  OMG sis, you lost me at « conservative »… » But she insisted: « No, seriously, check him out, you’ll really like him. You SOUND just like him! »

And thus I discovered the only blog worth reading on the Internet! Keep it up Garth, keep it up!

#87 Blackdog on 12.09.19 at 10:39 pm

@SailAway, So relieved you were not offended! I will keep your opinion in mind for future comments and try to do a better job at jerk-proofing. Lord knows this blog could use more of that. Thanks so much for the constructive feed-back.

#88 Blackdog on 12.09.19 at 10:52 pm

@IDHCT, Point taken. There is just something about this blog that brings out the animal in me. I will try harder to restrain myself in future.

@BytorTheSnowJob, right back at you, you sexy beast.

#89 PetertheSeparatistfromCalgary on 12.09.19 at 11:07 pm

Garth you keep disrespecting those who want to split Canada up into more manageable parts.

What is you economic justification for having a country that is almost twice as large geographically as the Roman Empire was under Trajan who (reigned 98–117)?

Canada area = 9.985 million km²
Roman Empire at its biggest in 117 AD‎: ‎5 million km²

#90 Exurban on 12.09.19 at 11:46 pm

That was indeed an airhead bloviation by Minister Mona, but it doesn’t mean a thing. Justin’s ministers are flunkies, minions, nobodies — which is why putting so many XX-chromosome and high-melanin individuals in there is also meaningless. All power is concentrated in the Prime Minister’s Office. Yeah, that means Gerry is making all the decisions, with maybe the occasional crumb tossed to Morneau. So Justin can pick whoever he wants and give them whatever title catches his fancy. It doesn’t mean a thing.

And yes, it was pretty much the same situation under Harper. Although at least Butts wasn’t in there.

#91 Fortune500 on 12.10.19 at 12:04 am

Garth is priming us for his soon-to-be-announced departure from this blog! Say it ain’t so Garth! Where will I get my daily dose of sanity?

To be fair, I think you are required to stay until the forecasted housing downturn that started the blog actually comes to fruition. I think that is actually a legal requirement. . .

#92 Anxious Millenial on 12.10.19 at 12:28 am

#75 Gravy Train

To anyone reading this, let it be a warning for the Millenial in your life.

I graduated 4 years ago with a Bio degree and since then have been on analysis paralysis mode, making below $10000 each of those 4 years. I still havnt started paying off $30k student debt.

Ive analyzed almost every single career to the point of insanity, finding faults with them all.

Either I wouldnt qualify since my undergraduate credentials were not amazing enough and I would have to study abroad for it(pharmacy, physiotherapy) or it was too risky to take on more student debt (business 2nd degree- 2 year length) or it was uncomfortable(trades, army).

You can see why I’m an “anxious millenial” lol.

Im going to suck it up and find a trades apprenticeship so I can atleast feel good about *only* wasting 8 years of my prime working life, rather than going back to school now and wasting 10-11 years.

Imagine wasting close to a decade, it fills me with dread. Even if I had worked at Mcdonalds I could have had 6 figures saved up.

#93 Politico on 12.10.19 at 1:03 am

https://www.youtube.com/watch?v=Hi7ZE450ST4

#94 Wonderer on 12.10.19 at 1:13 am

Hi Garth, I read daily, comment rarely, and appreciate your insights. I wonder if you would consider addressing disposable income rather than just income….I think it would permit people to make a better assessment of whether it is reasonable to raise or lower taxes for various income levels. Thanks again and Thanks to Dorothy for tolerating your obsession!

#95 NoName on 12.10.19 at 1:25 am

I really don’t want to stay in a middle class, I was hoping for government that promotes upward mobility.

What I really want to be is cowboy…
https://youtu.be/glb2U6y-GdU

#96 Win not Lose on 12.10.19 at 1:29 am

Threats ” Of those 1,800 came from Slovenia (seriously)”
That’s because you keep dissing Trump.
Milania’s mob is gunning for you.

#97 DON on 12.10.19 at 1:40 am

@#67 ImGonnaBeSick

Ok…then don’t drink so much vino.

#98 T on 12.10.19 at 1:48 am

#37 Smoking Man on 12.09.19 at 5:42 pm
Another good reason to leave Canada.

Apart from a lower cost of living and much higher income in the USA

In the USA When filling up the gas tank there is a clip that holds down the trigger which allows you to tose garbage, clean your windows or do nothing while your tank gets filled.

Not in commie Canada..the clip is removed. The loyal subjects just have freeze their butts off while filling up.

Back to SoCal tomorrow, can’t wait.. didn’t see the sun once since I got here last week….

——

Glad to see someone else noticed the clips on the fuel nozzle triggers. Not only are there no clips, the fuel flow is much slower as well! There are plenty of good reasons to leave Canada lately but I’m not sure this is one of them even though it’s actually extremely annoying.

Say, SM. Do you have any wisdom you could share around moving CAD to USD? Have you been able to use an FX account to move it between Canadian and US banks or anything like that?

#99 Jane24 on 12.10.19 at 2:04 am

Basic tax exemption here in Britain is £12,500 or $21,750 Cdn at todays’ exchange rate of 1.74. Canada is way behind in personal tax allowances. Fake news if anyone says they are high, they are actually low on an international basis.

A TFSA in Britain is called a ISA and the tax free saving max for this year is an incredible £20,000 or $34,800 per person. Our family holds all ours in unit stocks.

We have no carbon tax as the govt does not wish to see riots in the pubs and it looks like on Thursday BREXIT may finally happen after 3.5 years of arguing. As a result of escaping that fabled dead hand of Europe the pound is moving up sharply. We may not have to move to English speaking Cyprus with its 5% tax rate for pensioners after all. Nice weather though!

Canada is a VERT HIGH TAX country. Why are fellow Canadians not rioting on the streets? Why do wealthy people actually live there?

#100 Al on 12.10.19 at 2:31 am

“On Monday Morneau made a point of saying nothing the government is doing will reduce the taxes of 1%ers. Obviously those families don’t have hockey-playing children or financial pressures. They’re just supposed to pay up.”

He lied. The 1% get the same benefit of the personal exemption. If the 1% have financial pressures, lack of money isn’t the problem. Send them here.

#101 NoName on 12.10.19 at 4:03 am

@nitro

You are funny guy, all that and you are resort img.in this comment section for matchmaking.

My best advice is go for vacation in one of those war ravaged country where is disproportionate ratio woman to man in your age group you might get lucky over there…

#102 NoName on 12.10.19 at 6:09 am

#67 ImGonnaBeSick on 12.09.19 at 8:07 pm
#13 Mf on 12.09.19 at 4:07 pm
Here’s another way to save on taxes. Cut back on alcohol! It’s highly taxed! You will also benefit by being healthier.
———-
This has got to be the worst effin’ advice I’ve ever heard on this blog.

I concur that !!!

#103 Cici on 12.10.19 at 7:41 am

#97 T

You guys are right, but haven’t you also noticed that you get better mileage on the tank when you fill up in the US?

Seriously, I can pretty much drive twice the distance when my car’s hopped up on USA crude. Also a big moneysaver.

But our Coke and sodas are better. Theirs are full of high-fructose everything, we get sugar. One point for us Commies.

#104 M.T. on 12.10.19 at 7:43 am

@Post Canadianist:

***20 years from now Canada will be a failed state***

Yupper, that’s why they’re trying to ban the guns, “public safety” is just a thin veneer.

I can hardly believe I’m saying this after YEARS of school, medical school, residency training, but I’m basically looki g for ways to work as little as possible in order to get my income down to the point of qualifying for some of these benefits and tax.breaks. These people have no idea what they’re doing. Or maybe they do, I have no idea anymore.

#105 CROOKED JASON KENNEY - LOCK HIM UP!! on 12.10.19 at 7:57 am

Threats? The biggest one we face in Alberta is Jason Kenney.

Anothering blundering Con fool who wants to blame our financial incompetence for 40 years on anyone but ourselves.

Justin, bring your handcuffs to the meeting today.

And LOCK HIM UP!

(But if you forget, don’t worry, the RCMP will be doing it soon enough anyway)

#106 Incubus on 12.10.19 at 8:02 am

“the Liberal plan will eventually remove another 1.1 million families from the tax rolls,”

It’s just an illusion, everything else will cost more. But as most people are economic illiterates they will believe that they pay less taxes and that the increase in the cost of living is due to capitalists who want more money.

So, they will vote socialist to tax even more companies and the “rich”

#107 Phylis on 12.10.19 at 8:09 am

It’s an Elbonian inside outside job. slovenia is just the spoofed ip.

#108 Gravy Train on 12.10.19 at 8:09 am

#91 Anxious Millennial on 12.10.19 at 12:28 am
“To anyone reading this, let it be a warning for the Millennial in your life.” Soren Kierkegaard once wrote, “Life can only be understood backwards; but it must be lived forwards.” It’s next to impossible to do work/life planning—esp. at such a young age—if you don’t know what you like to do and what you do best. :)

“I graduated 4 years ago with a Bio degree and since then have been on analysis paralysis mode, making below $10,000 each of those 4 years. I still haven’t started paying off $30k student debt.” How do you approach the job market? Do you just apply for jobs posted in newspaper ads or online? The chances of getting a job using this method are about 5%. Using the methods in the book I recommended in my last post, your chances increase to 86%.

“I’ve analyzed almost every single career to the point of insanity, finding faults with them all.” I see that you have a bio degree, so I assume that you enjoy the field of biology. According to O*NET, the occupation of biostatistician is expected to grow rapidly. Check it out below.
https://www.onetonline.org/link/summary/15-2041.01

“Either I wouldn’t qualify since my undergraduate credentials were not amazing enough and I would have to study abroad for it (pharmacy, physiotherapy) or it was too risky to take on more student debt (business 2nd degree- 2 year length) or it was uncomfortable (trades, army).” Have you ever had an ‘informational interview’? Have you ever ‘targeted’ organizations you’d like to work for? The key is to find someone in the organization who’s doing the kind of work you’d like to be doing, and then contact them to find out how they got their job. You can ask such questions as: Did you need a master’s degree? Do you know of someone who’s doing a job like yours but only has a bachelor’s degree? And may I talk to them? What are some of the things you like about the job? What do you hate about the job? Do you know of someone else I could talk to about this field? Etc. Be sure to write and send a thank-you note the next day. The book I recommended in my previous post is invaluable.

“You can see why I’m an ‘anxious millennial’ lol.” Yes.

“I’m going to suck it up and find a trades apprenticeship so I can at least feel good about *only* wasting 8 years of my prime working life, rather than going back to school now and wasting 10-11 years.” I’d only recommend a trades apprenticeship if you’re a ‘realistic’ personality type (see Holland Codes), and if you like working mainly with things, rather than people, ideas or data.

“Imagine wasting close to a decade; it fills me with dread. Even if I had worked at McDonald’s I could have had 6 figures saved up.” Do take the time to read the book I recommended. It will really help you figure things out. The key is to find a job that you love and do well at. Best wishes. :)

#109 crowdedelevatorfartz on 12.10.19 at 8:20 am

@#98 Jane24
“Canada is a VERT HIGH TAX country.Why are fellow Canadians not rioting on the streets? Why do wealthy people actually live there?

+++++

God bless you Jane. You never miss a chance to tell everyone how much money you have.
Whats a VERT tax?
We prefer to riot IN the streets as opposed to on them.
We wealthy live here because…you dont.

Enjoy the election results.
Another minority govt?
Communist Corbyn in power?
Brexit instability inevitable.
Beer shortages in the pubs.
Good luck with that.
Customs lines miles( and hours) long.
Keep that Canadian Passport handy.

#110 Remembracer on 12.10.19 at 8:20 am

#70 Nonplused on 12.09.19 at 8:37 pm
It is a very expensive sport, which is why it isn’t very international. I am not sure there is a sport that is more expensive to play.
——————————————
Though not so much “middle class” since our betters are being elastic with the term and both like hockey generally require early entry as a child to have the best chance at excelling: owning your own dressage horse and funding open wheel / kart racing top hockey…

#111 Remembrancer on 12.10.19 at 8:27 am

#95 Win not Lose on 12.10.19 at 1:29 am
Threats ” Of those 1,800 came from Slovenia (seriously)”
That’s because you keep dissing Trump.
Milania’s mob is gunning for you.
——————————————————-
Miliania? Not really, now if Taylor Swift turned her online army against him, you could see the smoke rising above Liverpud from Vancouver, at least from the vacant, foreign owned higher level $2M 1 BR condo floors…

The Slovenia ones are probably cutouts for Garth fans further east…

#112 Steve French on 12.10.19 at 8:28 am

Lol that was a classic Smoking Man post.

Smokey no clips on the gas nozzle in ‘Straya either.

They used to have em’ over in Kommie Canada… what happened?

#113 n1tro on 12.10.19 at 8:37 am

#100 NoName on 12.10.19 at 4:03 am
@nitro

You are funny guy, all that and you are resort img.in this comment section for matchmaking.
—————
Dude, I’m joking around about needing to find a good woman. I already have one. Everything else I said is true. Just thought given how stupid our government with throwing money around for made up titles/jobs for clearly unqualified people, I thought I would try to lighten the mood a bit.

#114 crowdedelevatorfartz on 12.10.19 at 8:39 am

Gee.
The vancouver Real Estate Board must be working overtime to put a positive spin on this…..

https://theprovince.com/news/local-news/metro-vancouver-single-family-home-values-plunge/wcm/42107f31-bcf4-41ff-a3d0-43c8e58402f7

And the indications are .
Moving forward into 2020….
BC property tax assessments are about to drop drop drop

https://www.cbc.ca/news/canada/british-columbia/2020-bc-property-assessment-forecast-1.5389749

#115 Bytor the Snow Dog on 12.10.19 at 9:14 am

@ #83 n1tro and #87 BlackDog-

It is well well known FACT that for time immemorial women judge men based on the 666 rule…. No, not the Number of the Beast (although there might be a correlation), but by the following criteria.

6 feet

6 inches

6 figures.

Alas I fall short in all three.

#116 Dharma Bum on 12.10.19 at 9:36 am

#74 Post Canadianist

Canada is dying now and will at some point start to decay.
——————————————————————–
Well articulated post.

The truth hurts.

Canucks don’t want to face it.

They prefer to believe that their welfare state utopian society is world class.

In time, the asses of all Canadians will get chewed off while their heads remain stuck firmly in the sand.

#117 YVR Expat on 12.10.19 at 9:37 am

Is anyone thinking about seriously leaving Canada? With looming carbon taxes set to accelerate, how can the middle class prosper? RRSP’s and TFSA’s are likely to be raided. Canada has little to no manufacturing left, oil and gas has been decimated, what jobs are there going to be in 20 years?

If you’re young and unmarried, why stay? If you’re over 30 (or live in Alberta/Sask), what are you’re options?

#118 YVR Expat on 12.10.19 at 9:53 am

#74 Post Canadianist on 12.09.19 at 9:06 pm
Canada is dying now and will at some point start to decay. Wexit is the current discussion but it is just a symptom, it is not the disease.

The disease lies in economics, demography, and geography. Canada is not a united population on any of these fronts, and everything is going against keeping it together.

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

I agree with this, I’ve been trying to tell people people about this. Our debt is unsustainable. Carbon taxes are just a sneaky way of keeping the con going. All western nations are doing this. I think the only reason the US is backing away from the manufactured ‘climate crisis’ is because they have seen the charts, and they know they are likely the only nation to prosper going forward. The US doesn’t need carbon taxes as they have good demographics, will always have healthy immigration, strong economy, resources, etc. Europe, Japan and Canada are demographic dead ends…we aren’t having babies and we have no real industry left…our debt cannot be repaid and economic crisis (and war?) are likely next. Dark times ahead.

#119 Shawn Allen on 12.10.19 at 10:17 am

Carbon Tax?

Sitting in Alberta, I just don’t see the panic over carbon taxes.

Gasoline is under $1.00 and even with carbon tax will be far below peak levels.

Natural gas for heating is practically free here.

Electricity is at least far cheaper than in Ontario and in any case rarely used for heat do simply not a big deal.

Also in Alberta with no provincial sales tax (just the 5% GST) the imposition of a carbon tax just does not seem like a big deal to me.

It’s not going to add that much percentage wise to transportation costs. And transportation is not a huge portion of the costs of most things anyhow.

Maybe the issue is that unlike income taxes, pretty much everyone will have to pay carbon taxes. Some will get a carbon tax cheque but that is totally independent of what they pay for carbon taxes.

For those making over $50k and certainly $80k, income taxes are massively larger than carbon taxes and will remain so. No?

Anyhow, just not anything to worry about from my point of view.

#120 Blackdog on 12.10.19 at 10:39 am

@N1tro, I knew you were just horsing around as was I.

@SailFarAway, IDHCTDHT and BiteMeTheSnowJobSexyBeast, you got worked up for nothing :)

#121 OneMoreAdventure on 12.10.19 at 10:44 am

The last paragraph! This is why i read this blog. Not for the vitriol found in comments, for the sage advice Garth gives!
Thank You Garth. Thank you for spreading your knowledge. Much appreciated.

#122 n1tro on 12.10.19 at 10:48 am

#114 Bytor the Snow Dog on 12.10.19 at 9:14 am
@ #83 n1tro and #87 BlackDog-

It is well well known FACT that for time immemorial women judge men based on the 666 rule…. No, not the Number of the Beast (although there might be a correlation), but by the following criteria.

6 feet
6 inches
6 figures.
—————–
Curious. The women who seek the triple 6….are they the bulk of “single” and “available” women in the GTA? What would a triple 6 male want with simple Sally or plain Jane?

If anything, triple 6 males are looking for the “34-20-34” women. Next Greater Fool meetup event perhaps?! Alas, me thinks it be a room full of disappointment.

#123 Remembrancer on 12.10.19 at 10:51 am

#118 Shawn Allen on 12.10.19 at 10:17 am
Carbon Tax?

Nope. Looks like no federal carbon tax for AB…

https://www.jwnenergy.com/article/2019/12/alberta-carbon-regulation-deemed-meet-federal-benchmark/

#124 Linda on 12.10.19 at 10:52 am

#47 ‘Crowded’ – that title makes me think of a spoof movie where the plot mocks government oversight as the hapless characters blunder about trying to achieve some vital task or goal.

#125 YVR Expat on 12.10.19 at 10:55 am

#118 Shawn Allen on 12.10.19 at 10:17 am
Carbon Tax?

Sitting in Alberta, I just don’t see the panic over carbon taxes.

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

Because the government wastes our tax dollars on useless programs…

#126 YVR Expat on 12.10.19 at 11:03 am

If you think “climate change” is about climate, it’s not. It’s about global taxation to be spent by IMF bureaucrats and others. New taxes on U.S. would be about $200 billion. Get out your checkbooks.

https://www.imf.org/external/pubs/ft/fandd/2019/12/the-case-for-carbon-taxation-and-putting-a-price-on-pollution-parry.htm

#127 Sail away on 12.10.19 at 11:28 am

#119 Blackdog on 12.10.19 at 10:39 am

@N1tro, I knew you were just horsing around as was I.
@SailFarAway, IDHCTDHT and BiteMeTheSnowJobSexyBeast, you got worked up for nothing :)

————————————-

Blackdog, this could have been a learning experience for you. Unfortunately, hubris won.

#128 brain drain on 12.10.19 at 11:44 am

You summed it up PERFECTLY yesterday:

So, that’s is how politics works. Tax success. Pander to the rest.

#129 S on 12.10.19 at 12:00 pm

#70 Nonplused on 12.09.19 at 8:37 pm

“Not that people making $15,000 a year were putting their kids in hockey anyway. It is a very expensive sporkt, which is why it isn’t very international. I am not sure there is a sport that is more expensive to play. Not only is the equipment prohibitively expensive, especially as the children grow and need new skates every year, but a hockey arena is much more expensive to build and maintain than say a soccer field.”

No issue with your point but I know a family with a kid in competitive swimming and between the fees, meets (about once a month out of town)with travel expenses they average about $15000 a year. (Got him into swimming because they thought it was going to be a cheaper alternative to hockey.) Don’t know how this expense compares to hockey but it seems that all organized kids activities are prohibitively expensive these days. I remember watching children playing street hockey years ago… Haven’t seen that in years now and I live in a town where the sport is really big.

#130 CCRA on 12.10.19 at 12:03 pm

#54 Shawn Allen on 12.09.19 at 7:10 pm

um. no. the basic personal amount is non-refundable… you don’t get this credit for nothing

The key difference between a non-refundable and a refundable tax credit is that in the event your total non-refundable tax credits equals more than the amount of tax you owe, your amount owing will only be reduced to zero; this means that the excess amount of credit will not be refunded to you. The personal amount only reduces taxes payable, it doesn’t give you a windfall if you make less than the amount!

https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-3/7.html

#131 Remembrancer on 12.10.19 at 12:16 pm

#123 Linda on 12.10.19 at 10:52 am
#47 ‘Crowded’ – that title makes me think of a spoof movie where the plot mocks government oversight as the hapless characters blunder about trying to achieve some vital task or goal.
——————————————————
If you haven’t seen it and get the opportunity, check out Terry Gilliam’s Brazil – it has all that and as a bonus, features an irritating building code that requires duct work to be visible for some indiscernible reason…

As a taste test it has this topical exchange…

Interviewer: “What do you believe is behind this recent increase in terrorist bombings?”
(of a row of department store windows)

Deputy Minister Helpmann: “Bad sportsmanship,…”, a “…ruthless minority of people” who “just can’t stand seeing the other fellow win.”

#132 IHCTD9 on 12.10.19 at 12:25 pm

#83 n1tro on 12.09.19 at 9:54 pm

The thing about the # of “available” women being in the GTA….one must ask….what’s wrong with them? Seriously.
___

You know what? I am kinda seeing the same thing out here in the ice floes of hicksville Ontario. Many young folks taking a long time to get married – if at all.

Some kind of cultural shift happening.

But, while marriage is getting less popular, divorce rates are dropping, more and more Men are “marrying up”, and for the first time in history, Women with higher educations are more desired by Men than those with lesser educations.

I read an article a while back that basically said that today’s up and coming “Nouveau riche” are young, educated married couples. All they have to do is stay married.

I think they will. Women have traditionally filed around 70% of all divorces, but I’ll bet this new breed of “power couple” will see Women much more interested in keeping the marriage together.

Eligible Men interested in commitment and family are getting difficult to find – earning a big income and divorcing as a Woman represents taking the hit Men used to take almost universally. Women in this group have more to lose in divorce proceedings now than in any time since before the birth of feminism. In fact, they can THANK feminism for this.

Looks like many Men and Women outside this small “elite” group are just saying the hell with committed monogamy these days.

#133 Bytor the Snow Dog on 12.10.19 at 12:30 pm

#121 n1tro on 12.10.19 at 10:48 am sez:

“Curious. The women who seek the triple 6….are they the bulk of “single” and “available” women in the GTA? What would a triple 6 male want with simple Sally or plain Jane?”
—————————————————————-

He wouldn’t. However what the man wants is irrelevant to Simple Sally or Plain Jane.

#134 IHCTD9 on 12.10.19 at 12:32 pm

#119 Blackdog on 12.10.19 at 10:39 am

…IDHCTDHT and
___

Holy mother of… that is the worst butchering of my handle yet.

I will help – IHCTD9:

I nternational
H arvester
C orporation
T racked (not wheeled)
D iesel (not gasoline)
9 (thousand lbs)

International Harvester Corporation, TD-9

Think big yellow bulldozer from a long time ago.

#135 Remembrancer on 12.10.19 at 12:35 pm

#37 Smoking Man on 12.09.19 at 5:42 pm
#111 Steve French on 12.10.19 at 8:28 am
Lol that was a classic Smoking Man post.

Smokey no clips on the gas nozzle in ‘Straya either.
———————————————-
The worst sort of nostalgist pining is fake nostalgist pining… Smokie is blowing smoke somewhere again wishing for a present that hates the past…

Though illegal in Quebec (like B21 except for hoses wearing little clips and not inherently racist like B21), they are seen in the wild in multiple provinces including ON and MB…

https://www.ctvnews.ca/canada/gas-nozzle-locking-clips-are-coming-back-to-some-canadian-pumps-1.4568450

#136 oh bouy on 12.10.19 at 12:42 pm

@#74 Post Canadianist on 12.09.19 at 9:06 pm

________________________________________

lmao, you doomers have lost your marbles.

#137 Lorne on 12.10.19 at 12:44 pm

#105 Incubus on 12.10.19 at 8:02 am
“the Liberal plan will eventually remove another 1.1 million families from the tax rolls,”

It’s just an illusion, everything else will cost more. But as most people are economic illiterates they will believe that they pay less taxes and that the increase in the cost of living is due to capitalists who want more money.

So, they will vote socialist to tax even more companies and the “rich”
……..
Oh, you mean like the fallacy that reducing taxes on corporations has a “trickle down effect” on the economy and makes us all richer?

#138 jack on 12.10.19 at 1:01 pm

#30 Anxious Millenial on 12.09.19 at 5:14 pm
What is a good career to get into nowadays in this country for someone who has a useless science degree but no idea on how to handle the uncertain future due to automation, Canadian resource sector decline etc.?

AI/deep learning/analytics programmer, or IT security. As automation increases so does your value.

#139 Chimingin on 12.10.19 at 1:12 pm

Re #27 – n1tro – Maybe there’s an opportunity to start a new dating app to match an individual to a partner who has an ideal financial situation/prospects…instead of Tinder, we could call it Tender.

#140 Remembrancer on 12.10.19 at 1:18 pm

#131 IHCTD9 on 12.10.19 at 12:25 pm
are young, educated married couples. All they have to do is stay married.
—————————————————-
Ignoring the rest of the passive-aggressive sexism in your observation, and though there’s nothing really new about this as a winning combination, you are correct sir…

#141 YVRman on 12.10.19 at 1:19 pm

#91 Anxious Millenial
I understand you want to get into a career that makes you feel good. But you know what? life sucks, so suck it up and get a job. Minimum wage gives you way more than $10K a year, so either you don’t have the tolerance to hold a job entry level job, or you are just really bad at your job.

Get a minimum wage job, use your other time to improve and apply for better jobs. Your own mindset is limiting your own progress.

I graduated in Engineering, and the first jobs I got after university were fast food, and retail sales. Over 10 years I have upgraded to make over $100k in the jobs I actually want to do.

Trying to jump into the high end competing with others with years more experience is guaranteed disappointment. (sure there are some lucky ones that have connections, but you are not one of them, you are not special)

#142 jack on 12.10.19 at 1:23 pm

“#37 Smoking Man on 12.09.19 at 5:42 pm
Another good reason to leave Canada.

Apart from a lower cost of living and much higher income in the USA

In the USA When filling up the gas tank there is a clip that holds down the trigger which allows you to tose garbage, clean your windows or do nothing while your tank gets filled.

Not in commie Canada..the clip is removed. The loyal subjects just have freeze their butts off while filling up.

Back to SoCal tomorrow, can’t wait.. didn’t see the sun once since I got here last week….”

Don’t forget medium rare burgers! Another freedom we don’t have here in Canada – except for a very few choice places that don’t advertise the fact.

#143 Remembrancer on 12.10.19 at 1:25 pm

#137 jack on 12.10.19 at 1:01 pm
#30 Anxious Millenial on 12.09.19 at 5:14 pm
What is a good career to get into nowadays in this country for someone who has a useless science degree but no idea on how to handle the uncertain future due to automation, Canadian resource sector decline etc.?

AI/deep learning/analytics programmer, or IT security. As automation increases so does your value.
——————————————————-
All great if you are _really_ good at Data Analytics, otherwise, pick something that is still difficult or not cost effective to stick someone at the end of a wire to do it – trades for instance – especially electrical and plumbing. Also, depending on what science degree you have, the intersection of analytics and life sciences has a lot of opportunities…

#144 RWZM on 12.10.19 at 1:29 pm

This blog has indeed been going for a long time. Let’s have another little edition of 10 Years Ago in Garth:

Dec 21, 2009: “In case you missed the news, it’s finally come to Jim’s attention we have a housing bubble. Actually that’s not fair. The government knew it long ago. […] Mr. Flaherty fuelled this fire. Now it’s incumbent upon him to stomp it out. Before it incinerates the middle class.”

Well there you go. We’re here. I guess I’ll take my 2 tanks of gas and slink home to my new rental, where I was displaced from my old one, because my landlord harassed me out, because she wants to re-rent at much higher rates.

#145 Shawn Allen on 12.10.19 at 1:40 pm

Yes, Remembrancer, there is a Carbon Tax

#122 Remembrancer on 12.10.19 at 10:51 am said:
#118 Shawn Allen on 12.10.19 at 10:17 am
Carbon Tax?

Nope. Looks like no federal carbon tax for AB…

https://www.jwnenergy.com/article/2019/12/alberta-carbon-regulation-deemed-meet-federal-benchmark/

****************************
Sorry, that’s just the big emitter tax. Consumers in Alberta will pay the Federal carbon tax starting January 1.

#146 n1tro on 12.10.19 at 1:41 pm

#138 Chimingin on 12.10.19 at 1:12 pm
Re #27 – n1tro – Maybe there’s an opportunity to start a new dating app to match an individual to a partner who has an ideal financial situation/prospects…instead of Tinder, we could call it Tender.
———–
Love it! “Tender, the Tinder for people who want to hookup financially.” If there is not hookup, either party can always use “Boober, the Uber for…” well you know…

#147 Shawn Allen on 12.10.19 at 1:46 pm

Right, Personal Amount is non-refundable tax credit

#129 CCRA on 12.10.19 at 12:03 pm
#54 Shawn Allen on 12.09.19 at 7:10 pm

um. no. the basic personal amount is non-refundable… you don’t get this credit for nothing

The key difference between a non-refundable and a refundable tax credit is that in the event your total non-refundable tax credits equals more than the amount of tax you owe, your amount owing will only be reduced to zero; this means that the excess amount of credit will not be refunded to you. The personal amount only reduces taxes payable, it doesn’t give you a windfall if you make less than the amount!

https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-3/7.html

******************
You’re right I knew that as I had looked that up and I meant to change refundable to non-refundable. I must have hit submit too fast. Thank you for correcting the record on that.

#148 Shawn Allen on 12.10.19 at 1:50 pm

The Mis-trust of Government is Rampant

#124 YVR Expat on 12.10.19 at 10:55 am
#118 Shawn Allen on 12.10.19 at 10:17 am
Carbon Tax?

Sitting in Alberta, I just don’t see the panic over carbon taxes.

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

Because the government wastes our tax dollars on useless programs…

***********************************
Excellent point. Many people are against the carbon tax in large part becasue they don’t trust the money to be used wisely.

It seems trust in government is WAY down all over. It’s bad news for a civil society when there is SO much mis-trust of government.

#149 IHCTD9 on 12.10.19 at 2:08 pm

#139 Remembrancer on 12.10.19 at 1:18 pm
#131 IHCTD9 on 12.10.19 at 12:25 pm
are young, educated married couples. All they have to do is stay married.
—————————————————-
Ignoring the rest of the passive-aggressive sexism in your observation, and though there’s nothing really new about this as a winning combination, you are correct sir…

____

The fact that a growing fraction of today’s Women now stand to lose the same or more in divorce Court as Men do – is new.

If Women suddenly start filing for divorce less often – that also, would be new.

Divorce rates are indeed starting to drop. That’s a fact. Guess what? It’s also new.

The fact that highly educated, high earning Women are now more likely to married than their burger flipping peers – is brand spanking new.

First time in recorded history actually.

Up to you R. I get that some folks don’t like facts when they fall outside the accepted Doctrines. Thankfully, that doesn’t bother me one bit. I’ll stick with the researchers, and what makes the most sense.

#150 Mr Happy on 12.10.19 at 2:42 pm

Ola from Brazil! :)

#151 LP on 12.10.19 at 3:01 pm

@#98 Jane24

Jane I frequently enjoy your posts. Today isn’t one of those occasions. For a smart woman, or for a woman who would have us think you are smart, you seem to overlook that we Canadians service a relatively small population over a distance that is one of the largest land masses in the world.

You have railways. So do we but ours travel thousands of miles just to be able to move people and freight from one large centre to another. In England you’d have to cross the channel, cross France and into Spain to be comparable. And that’s just east/west. We do it north/south too.

I’ve never heard that England has more than one native language (Cockney slang aside). We provide official services in at least 2 and sometimes a third when dealing with the peoples of the far north. That costs too.

Others on this blog can and likely will add their own comparisons. Suffice to say, we have expenses that you don’t. So for the future, kindly keep your ridicule in check, okay?

#152 NoName on 12.10.19 at 3:19 pm

@n1tro

We are having fun, it seems to be that you and remberancer aren’t. Now I am wondering how long would both of you last on shop flor…

#153 IHCTD9 on 12.10.19 at 3:32 pm

#140 YVRman on 12.10.19 at 1:19 pm
#91 Anxious Millenial

I understand you want to get into a career that makes you feel good. But you know what? life sucks, so suck it up and get a job. Minimum wage gives you way more than $10K a year, so either you don’t have the tolerance to hold a job entry level job, or you are just really bad at your job.

Get a minimum wage job, use your other time to improve and apply for better jobs. Your own mindset is limiting your own progress.

I graduated in Engineering, and the first jobs I got after university were fast food, and retail sales. Over 10 years I have upgraded to make over $100k in the jobs I actually want to do.
___

I’d have to echo this sentiment. just get a damn job and start earning. While you do this, plan and execute for your future.

Between starting Post Secondary and starting my Career job (which just happened to turn out to be my Career job – was not planned that way), I did everything from clean out barns, construction, line work, landscaping, all kinds of jobs.

Then I started my Career job. Just around the time I started thinking that the job was really turning out good, the place went belly up (GFC hit). I had to start over at 38 with a different career, a sizable pay cut; and less benefits.

Today I am making decent money again, but I know it could all go to sh!t overnight once again. It’s just a job to make money to pay bills, who knows how long anything will last. Just start making hay asap – and get ready to roll with the punches.

#154 AGuyInVancouver on 12.10.19 at 3:54 pm

#141 jack on 12.10.19 at 1:23 pm
“#37 Smoking Man on 12.09.19 at 5:42 pm
Another good reason to leave Canada.

Apart from a lower cost of living and much higher income in the USA

In the USA When filling up the gas tank there is a clip that holds down the trigger which allows you to tose garbage, clean your windows or do nothing while your tank gets filled.

Not in commie Canada..the clip is removed. The loyal subjects just have freeze their butts off while filling up.

Back to SoCal tomorrow, can’t wait.. didn’t see the sun once since I got here last week….”

Don’t forget medium rare burgers! Another freedom we don’t have here in Canada – except for a very few choice places that don’t advertise the fact.
_ _ _
Gee, that’s funny I used that clip at my local PetroCanada yesterday when filling up. Fail, back to burning California with ya’, Drama Queen.

#155 n1tro on 12.10.19 at 4:10 pm

#151 NoName on 12.10.19 at 3:19 pm
@n1tro

We are having fun, it seems to be that you and remberancer aren’t. Now I am wondering how long would both of you last on shop flor…
————-
?! The comment section for this post has been a barrel of laughs for me. Not sure where your comments are coming from.

#156 Sail away on 12.10.19 at 4:19 pm

“#37 Smoking Man on 12.09.19 at 5:42 pm

Another good reason to leave Canada.

In the USA When filling up the gas tank there is a clip that holds down the trigger which allows you to tose garbage, clean your windows or do nothing while your tank gets filled.

Not in commie Canada..the clip is removed. The loyal subjects just have freeze their butts off while filling up.

—————————————

It’s an IQ test, similar to opening a beer with anything in the room.

A gas cap or glove wedged in to depress the lever works equally well.

#157 Blackdog on 12.10.19 at 6:16 pm

@SailAway, N1tro wrote, “The comment section for this post has been a barrel of laughs for me”, yet you suggested he give me two fingers for my attempt at a humorous response to his humorous comment, and you also called me a jerk.

Regarding: “Blackdog, this could have been a learning experience for you. Unfortunately, hubris won”, I’m thinking you should take some of your own advice. You were out of line with your attack on me and seem unwilling to accept that maybe you over-reacted. Learning experience? Hubris? Hmmmm…..

#158 Tony on 12.10.19 at 6:55 pm

I was never brave enough to pay back the TFSA on January 2nd or 3rd not wanting to know the tax consequences. If it doesn’t show up on your CRA account then in essence you’re over-contributing to your TFSA and are subject ton penalties. Questrade doesn’t send the info in to Revenue Canada until the end of the first quarter even if you cashed in TFSA’s a year earlier in January. Anyone get slapped silly by Revenue Canada for not waiting until it shows up on your account instead of firing all the money back in January 2nd or 3rd?

#159 Westcdn on 12.11.19 at 12:08 pm

After listening to the steerage, I come to the same conclusion as Klein that wexit doesn’t have enough support so let’s move forward and deal with the present. I still say Alberta should bring the CPP home, collect Federal taxes and have a provincial police force. I will not abnegate a better future for Alberta and it takes making a stand.

Yes I know of Louis Riel and Poundmaker. I am used of beaten down by consensus and paying the consequences in the while for being a contrarian. Introverts are seldom revolutionaries and it sucks not to be trusted.

I expect easy money is being removed from the table and being nimble will pay. More bureaucracy I do not trust. There are five word phrases that put a chill up my spine: “do not think about it” and “this will never happen again”. Meanwhile, I continue to transfer funds from my registered savings account to my non registered account to buy preferreds generally. The pain of income tax slows it down.

I visited San Marino in Italy – Gorgeous. It is a land locked independent country with one the planet’s highest GNP per capita. https://www.lonelyplanet.com/italy/emilia-romagna-and-san-marino/san-marino

It sounds to me that Garth will be shutting down this blog soon so guess what I am going to do other than find another favorite?