Giving it up

Hmmm. There’s something happening here. What it is, ain’t exactly clear.

Covid has done a number on politicians’ heads. The first global pandemic in a century spawned states of emergency across the country, shuttered legislatures, hobbled the federal Parliament, caused a suspension of many civil liberties, hardened borders, afforded new powers to premiers and mayors as well as the prime minister, caused hundreds of billions in public money to be spent without debate – all while millions of people were forced out of their jobs by decree and businesses told to change, diminish or close.

Wow. And the people accepted it. They actually support it. Polls give this new reality a big thumbs-up.

So, of course, the political class won’t stop here. Even the right-wingers.

The next target: housing.

For example, Ontario’s boss – Doug Ford – has brought in legislation to freeze residential rents (which are falling) for an entire year. No increases. Not even the miniscule 1.5% hike the previous restrictive legislation had allowed. This comes after a moratorium on evictions, and a virus-caused shutdown of the province’s landlord-tenant board.

The result is that thousands (maybe tens of thousands, or more) renters lived for free with landlords unable to remove them. Meanwhile condo fees, insurance costs, utility charges and property taxes continue to inflate. Says Ford, speaking to almost two million tenant-voters: “The last thing I want any family to worry about right now is whether or not they can afford to stay in their homes.” The legislation also bans the evictions of small businesses unable to pay rent for the next year. There is no assistance for those who own and carry the buildings.

Covid, 1. Property rights, 0.

In Vancouver the mayor is pushing ahead with a plan that would allow prime residential single-family lots to be carved into multiple units, so long as two of the additional homes are affordable to families earning $80,000. The change is huge. Such neighbourhoods currently contain homes requiring a $200,000 income and three hundred grand in down payment cash.

Accomplishing this will require an easing of restrictions on parking, design and floor size. More cars, more density, smaller spaces because, says Kennedy Stewart, “I see a future where families are no longer pushed out of town because their only two options are a condo or a multi-million dollar house.”

Impacted, of course, would be those families who paid seven (or eight) figures to live in areas which were less populated, calm, spacious and convenient. But the virus has changed everything. Policy-makers have been emboldened. The public good has emerged victorious over economic reality. It is, as Justin Trudeau said, a great opportunity to remake society. Governments have a mandate now to pick which industries will survive. To tax accumulated wealth. And tell you how to live.

Covid, 1. Capitalism, 0.

In Ottawa, after seven decades of operation regulating real estate financing, Canada Mortgage and Housing is about to become an activist arm of an ambitious government. The name change to “Housing Canada” likely says it all.

The Liberal government has turned CMHC into an agent of social engineering. A national housing strategy is backed with tens of billions earmarked for helping people get homes, whether that means rental units or state-built social housing. The agency has been mandated to “provide all Canadians with homes they can afford and meet their needs by 2030.” Other regimes and political systems have tried this in the past. It failed.

This comes as we ready for the Throne Speech on Wednesday. It’s widely anticipated this will be the precursor to UBI – a universal basic income to replace the CERB payments that moved almost $70 billion into private bank accounts from the government over the last six months.

The pro-UBI lobby has been frenetic of late, seeing Covid as a golden opportunity to push government into the unheard-of position of paying everyone just to be a resident. After all, CERB paved the way. It created a public expectation of support. Once turned on, taps can never be turned off. The $199-billion annual cost of UBI would be financed by (among other things) an end to TFSAs and RRSP deductions, a financial transaction tax (on your ETFs, for example), plus a new tax bracket, higher capital gains tax rates and a clobbering of employers. (It’s all spelled out here.)

Covid, 1. Personal initiative, 0.

Is it a plot, as anti-globalists, MAGA freaks and half the steerage section believes?

Nah. It’s just politics. The virus turned elected officials into benevolent despots. It removed opposition, sober second thought, and debate. It made them more popular. More powerful. After utterly disrupting society, they seek to rebuild it closer to a utopian deal. Everyone gets a home. All receive money. The successful are drained. The rest are supported.

From each according to his ability, to each according to his needs.

You may wish to Google that.

227 comments ↓

#1 Alex on 09.18.20 at 1:04 pm

Yeah, I mean, why would anyone work in this system?… I would retire tomorrow if all those measures are implemented.

For this reason alone, I don’t think they will do it.

#2 MF on 09.18.20 at 1:08 pm

When worldwide interest rates were kept at “emergency levels” for years after the emergency passed, it caused the asset bubbles to grow along with inequality. You warned about the social consequences of overvalued homes many times. Well here we are.

Housing 1 free markets 0

No one should be surprised.

Anyways, it’s a lot of talk. The Liberals are courting the center left and left NDP voters because it looks like the conservatives will have the center and the center right. UBI is also not the same as GBI (what is being talked about). For what it’s worth I think this throne speech is being overhyped and expect a nothingburger.

MF

#3 Where's My Money Sleazy Greedo? on 09.18.20 at 1:11 pm

It seems that double-dipping Fed/Prov/Muni pensions is de rigueur now and I despise these career polis backing up to the vault to pad their pocket.
Main example is Vancouver’s MP now Vancouver mayor Kennedy Stewart.
If these guys are so altruistic, let’s see them live on one pension.
Thought so, not even they can do it.
Abolish all double-dipping gov’t pensions now!!!!!!
Let’s have a maximum just like all other gov’t pensions for us plebs.

#4 TurnerNation on 09.18.20 at 1:11 pm

What’s really going on. Recall what Enron did to the power market and playing with Energy and Electricity futures? They controlled the demand and supply conduits.

Making their own markets while browning out.
Next up are our elites flushing us out in Water Wars? Anyone watch Hunger Games movie? (I did not).
Look they are telling us point blank here; expect water shortages.
Remember there is no more news only predictive programming.
Privatize the profits; socialize the losses. How our elite global rulers run this show.

https://www.tradersmagazine.com/news/cme-nasdaq-launch-water-futures/
Nasdaq Veles California Water Index futures will be an innovative, first-of-its-kind tool to provide agricultural, commercial, and municipal water users with greater
transparency, price discovery, and risk transfer – all of which can help to more efficiently align supply and demand of this vital resource.
“With nearly two-thirds of the world’s population expected to face water shortages by 2025,

……

“The Financial Post reports in its Friday edition that nearly one in four customers of the major credit card companies were unable to make monthly payments this
spring, according to a survey released on Thursday by J.D. Power. ”
© 2020 Canjex Publishing Ltd. All rights reserved.

…….

You guys want predictive programming? Saw this elsewhere:

“Chiefly, the original graphic novel has the fascists elected legally and kept in power through the general apathy of the public, whereas the film introduces the “St. Mary’s virus”, a biological weapon engineered and released by the Norsefire Party as a means of clandestinely gaining control over their own country.”
https://en.wikipedia.org/wiki/V_for_Vendetta_(film)

#5 The commies are coming.... on 09.18.20 at 1:11 pm

Everyone needs to activate their inner SM… and rebel!

#6 millmech on 09.18.20 at 1:17 pm

Covid cases in BC at new daily all time highs, more closures and restrictions coming, recent mortality from this virulent slate wiping killer. One death, in a long term care home not from Covid but with Covid.
So far 221 deaths in total in BC, hospitals obviously overwhelmed with 22 ICU cases right now.

https://www.cbc.ca/news/canada/british-columbia/bc-overdose-numbers-july-2020-1.5698795
The graph in the above article should tell you what you should be worried about getting wiped out from.

#7 KNOW IT ALL on 09.18.20 at 1:36 pm

IF the rules for CAPITALISM werent so one-sided then perhaps we would live in a more civil society.

Here goes the CEO of the largets hegde fund on the planet. Even though he is extremely wealthy he even knows there’s a problem.

https://www.marketwatch.com/story/billionaire-investor-ray-dalio-on-capitalisms-crisis-the-world-is-going-to-change-in-shocking-ways-in-the-next-five-years-2020-09-17

#8 Tater on 09.18.20 at 1:39 pm

#1 Alex on 09.18.20 at 1:04 pm
Yeah, I mean, why would anyone work in this system?… I would retire tomorrow if all those measures are implemented.

For this reason alone, I don’t think they will do it.

————————————-

Because some of us want more out of life than subsistence.

#9 Tater on 09.18.20 at 1:52 pm

For those surprised that people are pivoting towards socialism, why wouldn’t you when capitalism give you this: https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1

And if you defend the current system while not in the top 1%, you’re a chump.

#10 Darren Sarejavi on 09.18.20 at 1:53 pm

Ray Dalio is not a real capitalist. He is a CCP, China Communist Party sympathizer and supporter. He is a trap set from the UN and world bank, IMF and other global organizations, NGO’s etc.

#11 Old Ron the Realtor on 09.18.20 at 1:56 pm

Yikes ! I haven’t read Karl Marx since my political theory class back in U74T.

I could crawl across Yonge street at noon today without getting hit by a car. The economy is on life support. Take away the public sector and a zillion real estate flippers and there is not much left. So much for “service based economies”

A Basic income supplement will keep the wolf from the door for millions of Canadians, until the “New Deal ” kicks in. It’s all well and good to chirp on about free markets, but as one of my Profs once wrote : ” The past went that’-a-way”

#12 Mark on 09.18.20 at 1:57 pm

Garth, there should be lots coming down the pipe to write about, how should we manipulate our RRSP and TFSA before there trashed?. Or will they? Kind of scary with unknown?.

#13 Richard on 09.18.20 at 1:58 pm

A day late but I thought I would make the case for condos and let the blogdogs tear me apart. Like Garth said yesterday do your homework
Before condo, Toronto 3 bedroom house-loved it but brutal summers and winters, suspect air quality.
Victoria 2 bedroom strata, 15+ years- 42 suites, non-smoking anything, no rentals, 2 elevators, 1 library,
1 guest suite $35/night, 4 sit-down suppers/year in lobby, 1 garden, and 1 BBQ area and 1 caretaker suite. Building on ocean, 58 years old – zero special assessments, monthly fee $800. (includes taxes, water, heat ,laundry facilities, garden produce.) So we gave up the
Toronto amenities for less rain, better air quality, a
more moderate climate and better air quality. Our
building has at least 80% of the residents volunteer in
at least 1 activity in the building. When we feel the need for a warm weather holiday we prefer Hawaii to
Florida and Europe is only 1.5 hours further by plane from Vancouver. The building is impeccably maintained and more up to date than most homes, like Garth says
do your homework.

#14 Cottagers STAY THE HELL AWAY! on 09.18.20 at 1:59 pm

Summer’s over. It’s cold up here. Your inbred southern hillbilly covid case numbers are going up. Don’t bring that up here.

Just.

Stay.

Home.

#15 Bezengy on 09.18.20 at 2:01 pm

Hopefully over the next few weeks we’ll see leaders of all stripes denounce this stupidity. Where are the liberals who know better? Time to stand up folks and make yourself heard before the herd buys into this utopia fantasy.

#16 Dogman01 on 09.18.20 at 2:05 pm

#7 Piano_Man87 on 09.17.20 at 2:42 pm

RE The Social Dilemma, Netflicks

Thanks, I find the steerage section a good aggregator\filter for worthwhile items.

U.S. bans WeChat, TikTok, citing national security reasons; https://www.cbc.ca/news/world/u-s-bans-wechat-tiktok-1.5729249

A lot s of good points and a decent exposition:
“There are only two industries that call their customers users; illegal drugs and software.” – Edward tufte

“The truth is boring” ; hence people seek out salacious stories and the algorithms move you further and further along an increasingly radical path

“Saturday morning is paramount” ; Good point as for my generation kids eyeballs and target ads were on Saturday morning cartoons, but now kids have access to Saturday morning 24 hours a day.

The point that people are worried about AI overtaking Human strengths, but they have already figured out how to exploit Human weakness and few realize that.

#17 Jim on 09.18.20 at 2:06 pm

“The first global pandemic in a century spawned states of emergency across the country …afforded new powers to premiers and mayors as well as the prime minister.”

This is important to note. Power over people can be addictive, and it would be good to read people like Solzhenitsyn to see where that can lead.

And it really didn’t take much. Along comes a cold virus which basically kills people over 80 (30% death rate), is dangerous to those 70-80 (16%), scary to those in their 60s (6%), and low risk to those younger than 60 (.3%). This is not the Spanish flu, which killed healthy people.

The world seemed ripe for this opportunity. And politicians seem to be taking advantage of it.

#18 Ferry Boy on 09.18.20 at 2:07 pm

# 7 Know it all

Thanks for the link.. very interesting. “Interesting” times ahead!

#19 Buy? Curious? on 09.18.20 at 2:08 pm

I guess this is Change.

Rich People – 1,00,000,000+
Regular People – 1

Deal with it!

Smoking Man was alright, considering he abused alcohol. Alcohol is a nasty, nasty drug.

#20 Sean on 09.18.20 at 2:10 pm

I commented here once saying CERB will continue or turn into UBI.

Not surprised at all. It’s not just Canada, although Canada is among the worst.

Even if Covid gets addressed soon, CERB won’t go away for years, if ever. Who knows what other crazy stuff socialists and globalists will come up with before everything collapses.

#21 Econ101 on 09.18.20 at 2:16 pm

“The champions of socialism promise the Garden of Eden but plan to transform the world into a gigantic post office. Every man a subordinate clerk.”
-Ludwig von Mises

#22 Tarot Card on 09.18.20 at 2:16 pm

Thanks for the blog Garth
I guess this would be a racist comment?
Can we start a petition to stop UBI?

I fear it’s just welfare.
An alternative idea would be employers pay the UBI and the federal government does a top up from minimum wage.
In other words reimburses the employer.
Then only workers can get a boast to income which I think is fair.

Giving everyone free money not to work does not make sense. Take away incentives to work creates a welfare state.

You have to work period!

Let’s hope the liberal backbenchers push back.

Let’s hope all Canadians write their MPs and stop this madness.

#23 Smartalox on 09.18.20 at 2:19 pm

Well, having just had to wire my octogenarian parents some money to buy food until their OAS and GIS deposits arrive on the 29th of this month, I can see the UBI has a certain appeal.

That said, I would hate to see a regime where people are penalized for having ambition (I.e.: chopping capital gains exemptions, or RRSP and TFSA Exemptions, etc.).

#24 Alex on 09.18.20 at 2:20 pm

#8 Tater

Sure, more than subsistence, but once you have enough, you’re set. I am not starting from 0…

But why work more to be taxed more when the government will give it for free?

I think a lot of high income people will think similar things with these strategies.

#25 some guy on 09.18.20 at 2:21 pm

Reading the outline at https://www.ubiworks.ca is kind of depressing.

The liberals want to give the impression that they are taxing the ultra wealthy when in reality the majority of their ideas actually target the middle class.

#26 Dogman01 on 09.18.20 at 2:23 pm

Massive income shift to the top1%
“It explains almost everything. It explains why people are so pissed off. It explains why they are so economically precarious.”
https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1

It explains UBI push, it explains mental health problem increase. It likely explains the victim mentality of the WOKE\SJW movement.

I have been saying it for years the masses are getting creamed, if people’s work is low paid and not fulfilling and they have little hope of upward mobility they become existentially unhappy. It is why people go radically left or right, vote for the NDP, The Donald, the Nazis, and Hugo Chavez.

The Pitchforks are coming….the trajectory the system is on will have nasty consequences. (Covid just accelerated it)

“If your house is already burning down around you, there isn’t much downside to trying to extinguish the blaze with a swimming pools worth of gasoline. It might be enough to deprive the fire of oxygen, or it might just explode, but the house is already toast. Practically, an explosion won’t make the house any worse off, so there’s no real downside to trying out the gasoline idea.” – #30 Lesser Ape on 02.23.18 at 5:56 pm

#27 Prairieboy43 on 09.18.20 at 2:25 pm

“For every action, there will be equal opposite reaction “.
Stamp it!
The pendulum is moving. Balance is being altered by elitist people, money and governments love for power.
This will end poorly. Rome 2.0.
PB43

#28 Overheardyou on 09.18.20 at 2:25 pm

Something for nothing is becoming a reality. People speak of equality but it’s only equal when they take from others. What a sad society we have built.

#29 Ponzius Pilatus on 09.18.20 at 2:29 pm

But I will stick my neck out — and take the blow back — to say I miss ….Sail Away!

That Dude was funny. And insightful.

I gather that he offended the overly-sensitive. Didn’t Smoking Man sometimes do that too?

Not sure Sail Away would ever come back if that was allowed, but he wrote many of my favorite comments.
————————-
Can you give me an Example of one of your favourite comments by Sailo.
So I can see what I missed.
Thanks

#30 Lee on 09.18.20 at 2:29 pm

They appear to be leaving eligible dividends untouched. Goodbye Apple and Shopify, Hello BCE and Enbridge.

#31 Puzni on 09.18.20 at 2:34 pm

Garth that ” ubiworks.ca” site quoted in your post is very scary. These people publish something that only shows short term financing options for ubi without any consequences. Any of these options would have caused current jobs to disappear and kill economy in the future. Hopefully JT doesn’t read that site !

#32 Billy on 09.18.20 at 2:35 pm

https://nationalpost.com/opinion/chris-selley-universal-basic-income-is-not-coming-to-canada-no-matter-what-the-liberals-say

#33 dave on 09.18.20 at 2:37 pm

This behavior is happening across the globe.

Conspiracy theory – the Elite/illuminati are up to something – what could it be?

#34 Mean Gene on 09.18.20 at 2:41 pm

Bloody neo Marxists disincentivizing saving any money money for a rainy day or retirement, this is not going to end well.

#35 bob on 09.18.20 at 2:42 pm

If I could post an animated gif,
It would be of Oprah… “you get car” meme

So Garth, how do we combat this insanity?

#36 domain on 09.18.20 at 2:43 pm


The agency has been mandated to “provide all Canadians with homes they can afford and meet their needs by 2030.”

Justin and Christia are implementing the UN’s Agenda 2030 Sustainable Development Goals:

https://sustainabledevelopment.un.org/post2015/transformingourworld

It’s not a conspiracy, it’s a plan by unelected officials at the UN, implemented locally by elected officials.

Global communism, under the guise of hugs and kisses.

#37 Original PK on 09.18.20 at 2:46 pm

UBI will be the end off my working career in Canada. Having worked for 30 years as a physician and saved for retirement, acquired wealthy slowly and with many sacrifices I just don’t see a reason to continue to work under these circumstances. i probably would have worked another 5-7 years but what would be the point?

#38 justdeleteitifyoudontlikeit on 09.18.20 at 2:47 pm

“The Liberal government has turned CMHC into an agent of social engineering.”

It has been that from day freakin’ one. By law.

#39 Brian Ripley on 09.18.20 at 2:50 pm

Affordable Housing?

My Housing Starts charts are up with current data:
http://www.chpc.biz/housing-starts.html

Nation wide, housing production in terms of housing starts has been in downtrend since the 1970’s relative to the census figures which have been uptrending over the same time frame.

The same is happening in provinces with at least 10,000 starts per year (ON, QC, BC and AB)

The spread between starts and census data continues to widen.

Meanwhile the falling cost of raising debt to finance production and purchase continues to allow vendors to raise prices spurring on a new wave of FOMO buyers at a time when housing rental prices are dropping.

The change in unemployment (not seasonally adjusted) over the last 10 years is:

+11.4% in Canada
+9.4% in QC +21.1% in Montreal
+12.1% in ON +14.3% in Toronto
+13.5% in AB +14.6% in Calgary
+11.5% in BC +12.9% in Vancouver

Source: http://www.chpc.biz/earnings-employment.html#Rate

And we are only 9 months into a global pandemic that is going to be actively with us for many more months.

#40 C V on 09.18.20 at 2:52 pm

This year is the first tine in my young adult life that I have had feelings of worry and concern for the long term stability of a Canada and the quality of life of Canadians. It’s not that I didn’t see some hints if this, it’s that before this year I trusted more in our systems of democracy, politics and general common sense of Canadians. A lot of that trust has been completely erased in the blink of an eye. What the future holds has never been certain, but it is certain that it is more uncertain than my generation or the two generations before me

#41 Graphics Girl on 09.18.20 at 2:53 pm

I read through the UBI proposal and it’s truly scary.
Basically the government wants us all to consume.. $1 UBI = $2 in the economy. No one encouraged to save or invest or even work.

Says because of technology is leaving us behind, we need this..

How about free technology school for anyone?!

I need to get out of Canada.

#42 YouKnowWho on 09.18.20 at 2:54 pm

HOUSING IS A HUMAN RIGHT!

People, people, people, OBVIOUSLY. This is just the beginning of masses realizing this. It’s a Human Right now.

No one can evict you.
Not a land lord when you don’t pay rent.
Not bank when you don’t pay your mortgage.

All you have to do is challenge it on basis of Human Rights violations. LAW of the land is HOUSING IS A HUMAN RIGHT. Once the right is granted to an individual, it cannot be withdrawn. To do so, it would mean your Human Right is being violated.

I need to keep it short here for the blog dogs, no long soliloquies.

Garth talked about it here:
https://www.greaterfool.ca/2020/01/12/right-vs-right/

I’ve said all I need to say about the logic in my comments in the two posts below.

https://www.greaterfool.ca/2020/08/30/prepare/#comments

https://www.greaterfool.ca/2020/08/31/nesting-3/

Things are looking similar in the US.
https://arstechnica.com/science/2020/09/trump-admin-halts-evictions-in-2020-with-rarely-used-public-health-law/

#43 domain on 09.18.20 at 2:55 pm

So Garth, what’s the plan?

Do I need to pick up a phone or send an email to inquire how a 40 year old married guy with no kids protects his wealth with this incoming tax grab?

If you have a formula…

#44 Lena on 09.18.20 at 2:56 pm

Interesting ideas in there. Not all are bad IMHO. One group I can see really affected by the suggested UBI is Moms (or Dads) at the end of parental leave. Tons won’t go back to work even if they had a little money ($2000/mo) coming in. Good people too, not lazy. The pull to nurture babies is strong, being home with little people makes family life so much nicer for everyone. A lot of my friends only go back to work because they need the money, but $2000 and stay home with your baby a little longer? Easy choice.

#45 WEXIT on 09.18.20 at 2:58 pm

I did 30 years of business in Canada, 7 years in the USA. If you choose (and it is a choice), to work hard in your life, and want to get ahead. Look into moving away from Canada.

It does not have to be the USA, it is a big world out there, and lots of opportunities. Canada is a great country for the public sector workers, and the people who do not wish to work hard. But for the private sector, Canada is a joke.

#46 PM on 09.18.20 at 2:59 pm

How do we stop this and get back on the right path??…does not seem like any political party thinks otherwise these days.

#47 Brett in Calgary on 09.18.20 at 3:01 pm

#8 Tater on 09.18.20 at 1:39 pm
Yeah, I mean, why would anyone work in this system?… I would retire tomorrow if all those measures are implemented.
For this reason alone, I don’t think they will do it.
————————————-
Because some of us want more out of life than subsistence.
————————–
True enough, but if fully implemented this would almost certainly neuter the drive of a significant proportion of the population. Wonder how much shrinkage we’d see in GDP in the 2020’s?

#48 Eco Capitalist on 09.18.20 at 3:03 pm

Ubiworks is playing with words. They state that we wouldn’t have to increase personal income tax rates, but they propose that we eliminate the basic federal and provincial tax credit. So that means everyone’s income (for purposes of taxation) increases by around 13K. Gee a lot of people will find themselves in a higher tax bracket. They also propose eliminating the RRSP tax shelter? That should be the final nail in the coffin of ordinary Canadians saving for retirement. Let us hope none of this comes to pass.

#49 chris on 09.18.20 at 3:04 pm

20 people in ICU in ON on a 14.5 million population as of today .. and 58 hospitalized .. what a joke
https://covid-19.ontario.ca/data

#50 Piano_Man87 on 09.18.20 at 3:05 pm

If we ever are to reform capitalism in any meaningful way, to bring about environmental sustainability, to change corporations from being ran as totalitarian institutions to democratic ones, or to simply increase worker rights in any large degree, Marx is going to be a part of the conversation. All of our modern views about the flaws of capitalism can be traced back through history to his work.

You don’t need to be a fundamentalist Christian to understand what Jesus was getting at.

#51 telling it like it is on 09.18.20 at 3:06 pm

Give all the communists, socialists, marxists and anyone that supports their policies and even mentions they will do it a choice to leave Canada to their fellow like minded countries like Cuba, Venezuela, China, North Korea,Argentina, Zimbabwe etc. etc.

If we allow this to continue, we will all starve and it is all our fault not stopping this now.

#52 F37ON on 09.18.20 at 3:09 pm

I think the suggested $2000 guarantee is too high. No incentive for lower wage earners to work. And additional adults under same roof get no more than $500 extra. Imagine a scenario where you have Mom, Dad, grandparents, and 2 college age students, 6 people total, living under one roof (very normal in some cultures). This family unit would get $9000 per month from the government (ahem, taxpayers) without lifting a finger.

#53 Ace Goodheart on 09.18.20 at 3:10 pm

This is what happens when you legislate people out of their jobs, and then pay them to stay home.

They like it.

You will notice that we have an interesting “youth movement” occurring in Canada right now.

There is a group of people who claim to support COVID-19 restrictions.

They are very vocal.

They will call you out, if you disagree with them.

They are currently attacking University students, and also high schools and elementary schools. They want these places shut down.

All the same, when there is a major left wing protest taking place, these same people will be out protesting. They encourage young folks to come out and protest with them. They ignore social distancing, encourage large protest gatherings and do not focus their attacks on certain, left wing protest movements (like BLM, Keep Your Rent, and others).

These people appear to be using COVID as a means to shut down education, and replace it with left wing protest movements.

This, is scary. Young people, with no education, brought up as professional protesters, can form very dangerous groups that are hard to control or moderate.

Many left wing dictators around the world (including the infamous Adolf Hitler) have used this method to indoctrinate the young.

The take away seems to be that children don’t need education, it is too dangerous to go to school, so we might as well just keep them home (and train them as uneducated left wing protesters).

Watch this. If they shut down all the schools again, and they stay closed all winter, we are in trouble I think.

#54 leebow on 09.18.20 at 3:11 pm

Garth’s dive into dialectical materialism.

An old Soviet joke: In a capitalist society one human being exploits another. In a communist society it’s other way around.

#55 theoryAndPractice on 09.18.20 at 3:12 pm

….The $199-billion annual cost of UBI would be financed by (among other things) an end to TFSAs and RRSP deductions, a financial transaction tax (on your ETFs, for example), plus a new tax bracket, higher capital gains tax rates and a clobbering of employers. (It’s all spelled out here.) -GT
—-
I can see it coming with or without the lobby (may be lobby is just an illusion front like famous polls that are done quite often almost about anything to massage and direct the thoughts of the public for their own agenda).

What is the suggested defence, Garth ?

Actually is there any defence at all ?

If there is anything at all, I just want to preserve at least my time as much as possible, whatever I can save from it. Yes, just the ‘TIME’ !

#56 Tanya Stuart on 09.18.20 at 3:13 pm

Ray Dalio is not a capitalist but a socialist disguising as a capitalist. He is a big backer of Red China, a communist country disguising as a capitalist country. Be wary were where you get your information from.

#57 Millennial 80%er on 09.18.20 at 3:14 pm

The more the super rich get taxed, the more they’ll invest in moving their wealth elsewhere. The one thing the rich are really good at is tax avoidance. It’s part of the reason of why they’re so rich. Removing “tax shelters & exemptions” will basically kneecap upward mobility from the lower strata of society. RRSPs & TFSAs don’t help the super rich as much as it helps the middle class build a secure base of wealth.

And if our increasingly shrinking middle class get taxed anymore, they’re going to leave. They tend to be skilled professionals, and the USA will welcome them with open arms. Let’s not suffer from any more brain drain.

#58 Leftover on 09.18.20 at 3:16 pm

Re CMHC, it was originally mandated to build and subsidize public housing following WWII. If it goes back there through this “re-branding”, great, an instrument of public policy rather than a place to off-load financial risk onto taxpayers.

If CMHC gets out of the mortgage insurance business (though I’m not sure that’s what they intend) then it will tighten credit because private insurers don’t have equivalent capacity. That helps take the gas out of the housing bubble.

Re UBI and UBI Works, at least they have the guts to say where they’ll get the money (investors mainly). Many of their ideas are nonsense and of course there’s no mention of the significant off-sets from eliminating OAS, EI and the Child Benefit, but it’s a start and much different from just assuming that the government prints the cash.

#59 Sandy Temma on 09.18.20 at 3:19 pm

What do you call negative interest rates and in Canada 1.7% 5 year fixed rate mortgage rates. The 2008 financial bailouts from banks, financial institutions, insurance etc. like AIG 180 US billion dollars in US. Now look at the crap in 1-2 trillion dollars debt coming up and green energy scam starting BC to Ontario etc. in Canada.

It is not capitalism anymore for awhile and Ray Dalio is the least person you should believe. He is as useless and wrong as Al Gore and the biggest hypocrites I ever seen.

#60 From Mississauga with Love on 09.18.20 at 3:20 pm

what do they mean by introducing a land levy of 1.82%?
are they thinking of taxing the land my house is on?
isn’t that called property tax that I pay already?
and introduce “European-style” HST? additional 10%? so they want us to pay 23% on the bill instead of 13%?
should I keep going?
How are they going to determine net worth then tax it? do they want the government to monitor my bank accounts and my investments on an on-going basis?
This is scary…

what are they thinking about???

#61 Dolce Vita on 09.18.20 at 3:21 pm

I liked the UBI “Micro Tax”.

0.2% on any digital financial transaction.

So if you pay your bills or do anything financial online, you get dinged.

No more free Robinhood.

THAT will go over well.

#62 FreeBird on 09.18.20 at 3:21 pm

Link given by Garth lists an incr in Small Business Tax Rate by 1.5%. This will have negative consequences on. many small business owners and their employees. I guess they’re reducing incentive to make your own way and not rely on govt handouts or provide jobs. It’s almost like they want more people dependent on govt. Now why is that? I have theories.

#63 The Woosh on 09.18.20 at 3:25 pm

#29 Billy on 09.18.20 at 2:35 pm
https://nationalpost.com/opinion/chris-selley-universal-basic-income-is-not-coming-to-canada-no-matter-what-the-liberals-say

———————————

Yup. Read that one too and I agree…UBI is not coming to a country near you. Garth just likes to push the deplorable’s buttons.

#64 Chris Farlon on 09.18.20 at 3:26 pm

In a communist society they can’t survive and starve and if they don’t starve right away is because they barter illegally to survive. I will give you a some eggs for some bread but don’t tell anyone.

Many much very more economic, financial losers are in a communist society and wish they have never been born.

#65 FreeBird on 09.18.20 at 3:28 pm

#57 Millennial 80%er on 09.18.20 at 3:14 pm
The more the super rich get taxed, the more they’ll invest in moving their wealth elsewhere. The one thing the rich are really good at is tax avoidance. It’s part of the reason of why they’re so rich. Removing “tax shelters & exemptions” will basically kneecap upward mobility from the lower strata of society. RRSPs & TFSAs don’t help the super rich as much as it helps the middle class build a secure base of wealth.

And if our increasingly shrinking middle class get taxed anymore, they’re going to leave. They tend to be skilled professionals, and the USA will welcome them with open arms. Let’s not suffer from any more brain drain.
——————
Agreed. Not sure if this will spur a brain drain or almost perm vacations/early retirement w/govt in ever growing/extended control. I think too many enthusiasts are missing the control part. Careful what you ask for.

#66 leebow on 09.18.20 at 3:28 pm

#55 theoryAndPractice

The ultimate defence is the offence – socialize your costs and risks, and privatize the profit. That can be done in a number of ways.

#67 Dolce Vita on 09.18.20 at 3:29 pm

To all the COVID no big deal whiners you get here, stop whining.

Get out there. Get sneezed, breathed upon, whatever. Be PROACTIVE not reactive (i.e., whining).

Ignore science, what to they know. I mean you’re so good with a calculator that infectious disease specialists are inferior to your button pressing division prowess, as if it never occurred to them to do what you so capably and singularly do.

Don’t wear a mask. Don’t sanitize, etc.

I’m all for Mother Nature and Natural Selection hunting your sorry, whiner asses down…and smiting you in your tracks.

Then we can have some peace and quiet here on THE Blog talking about how COVID crushes all things financial, common sense and what not.

#68 The Woosh on 09.18.20 at 3:30 pm

#37 Original PK on 09.18.20 at 2:46 pm
UBI will be the end off my working career in Canada. Having worked for 30 years as a physician and saved for retirement, acquired wealthy slowly and with many sacrifices I just don’t see a reason to continue to work under these circumstances. i probably would have worked another 5-7 years but what would be the point?

—————————————

That may not be a bad idea. You’re probably past your prime anyway. Thanks for your service. Time for someone fresh and up-to-date to take your place.

#69 Rent the Podium on 09.18.20 at 3:31 pm

COVID 0, Capitalism 1?

Typically when one rezones their property it’s a windfall for them. Seems like a big opportunity for Vancouver property owners, no? Also, wouldn’t it set off a lot housing construction if people buy into it and be good for recovery?

#70 AM in MN on 09.18.20 at 3:39 pm

From each according to his ability, to each according to his needs.

—————————————————

As referenced in the bible, as it was referring to religious communities, it only works in tight knit religious communities that people VOLUNTARILY join.

It never works where it is imposed by a corrupt political class, who grabs the best for themselves first.

This won’t end well….

I do take issue with your assessment that being able to cut your own property into smaller pieces to sell smaller houses is against capitalism. Yes, the neighbours won’t be happy, but you will profit from it, which is the point of capitalism and private property rights.

Note also that these rent controls never work either. In the US the SFH house construction market is booming, held down only by the lack of skilled workers. The rental construction market has started to crater. I wonder why…

#71 Frank Patterson on 09.18.20 at 3:40 pm

The Liberals in Canada and Ontario, BC and anywhere else stated they are the party with no limits, sunny ways.

What is this peanuts of $17,000 a year or $2,000 a month. This is so low. Give everyone $1 million today so we can end poverty and make everyone rich. Oh, I forgot, Venezuela tried this, Argentina tried this, Zimbabwe tried this, Chile tried this, Germany tried this, USSR tried this, failures all of them.

People are so stupid, dumb and will only understand when they are all starving. Canadians, are you all going bonkers. Good luck with your socialist, communist, marxist utopia. We are all done for.

#72 SunShowers on 09.18.20 at 3:40 pm

Human rights > property rights.
Every single time, regardless of context, without apology.

While I doubt this going to be the left-wing coup so many fear it to be, I must admit I am excited for Wednesday!

#73 Franco on 09.18.20 at 3:41 pm

“From each according to his ability, to each according to his needs.”

No need to Google this phrase, millions have died because of this thinking.

#74 Shirl Clarts on 09.18.20 at 3:46 pm

#5 The commies are coming…. on 09.18.20 at 1:11 pm
Everyone needs to activate their inner SM… and rebel!

^^^^^^^^^^^^^^^^^^^^^^^^
The problem is, we don’t know what to rebel against.

Canadians vote based on their platform. But honestly, do we really think it will end there?

This is like telling your kid they can take the car, after they:

1. Clean their room
2. Do their homework

They’re thinking… ok dummy. I’ll do those things. But I also have an agenda which includes stealing liquor out of my friends Dad’s cabinet, followed by some stunt driving at the mall.

Governments, just like kids, need to be constantly watched. The CBC is not enough. The opposition is not enough. Even this pathetic blog is not enough.

And Garth, why the heck are you not on the “At Issue” panel? Man, that would be fresh, weekly spanking.

#75 Stoph on 09.18.20 at 3:53 pm

I fear that the quote “Ask not what your country can do for you – ask what you can do for your country” no longer resonates with people in Canada. I suppose this comes with the package of Canada being a post-national state as T2 put it.

#76 The Woosh on 09.18.20 at 3:57 pm

#53 Ace Goodheart on 09.18.20 at 3:10 pm

————————————

I’ll get your tinfoil cap from the coat rack.

#77 Inequity on 09.18.20 at 3:57 pm

UBI (Universal Basic Income) won’t be Universal by a long shot.
That is just the marketing name to get it the support it needs…. but the more income that someone makes the more UBI would be scaled back. And you can bet that it will be zero long before you reach the middle income level.

#78 crazyfox on 09.18.20 at 4:00 pm

“From each according to his ability, to each according to his needs.”

You may wish to Google that. – Garth

https://en.wikipedia.org/wiki/From_each_according_to_his_ability,_to_each_according_to_his_needs

It’s a slogan popularized by Karl Marx in 1875.

Marx describes a society not unlike today. “Marx delineated the specific conditions under which such a creed would be applicable—a society where technology and social organization had substantially eliminated the need for physical labor in the production of things, where “labor has become not only a means of life but life’s prime want”.[17] Marx explained his belief that, in such a society, each person would be motivated to work for the good of society despite the absence of a social mechanism compelling them to work, because work would have become a pleasurable and creative activity. Marx intended the initial part of his slogan, “from each according to his ability” to suggest not merely that each person should work as hard as they can, but that each person should best develop their particular talents.”

So, was he dreaming? Would each person be motivated to work for the good of society despite the absence of a social mechanism compelling them to work, because work would have become a pleasurable and creative activity? How many of us are working not because we need to, but because we want to? If your government provided the basics to live, (food, shelter, mass transit etc.) would you still be motivated to work or would you sit on your ass? Or, would you take those opportunities, develop your God given talents and contribute to society in a more meaningful way, or would you be the next slob in waiting? We should know the answers, its both.

Or, would you/we rather see it, “from each according to his needs to each according to his ability”?

How many life sucking jobs have the masses found themselves in because people had to feed their needs, falling well short of ever developing their true potential in their lifetimes? How is that good for society? It’s a long running theme.

All hypothesis aside… we know that true success and prosperity is built on merit. If it isn’t, the spoils spoil. We should also know that prosperity and wealth earned through merit, is not a bad thing. This is basic stuff, we should know it. When you give people something for something, is it earned on merit? And yet, people fail, its a part of human nature and what comes with it is rock bottom, the inability of people to take care of themselves. Is it the role of government to support those who don’t succeed? It is if you believe everyone has the same value regardless of our differences. To not believe this is to discriminate, to lose ourselves in the weeds of psychological “superior/inferior” and conflict, but never equal especially in terms of value. We need safety nets but when we think about it, but don’t we already have them? This isn’t 1875. Of course the government has to step in but you don’t give those in need the moon. “From each according to his needs to each according to his ability”.

Of course, its easy to say when one comes from wealth. I was reminded the other day of this word known as Mammon:

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

“Christians began to use mammon as a pejorative, a term that was used to describe gluttony, excessive materialism, greed, and unjust worldly gain.” Just ask yourselves, is wealth and prosperity a bad thing? Does God frown upon success? Of course not… as long as it’s earned through merit. Merit!

Why is this so commonly misunderstood, sadly its because its convenient to do so. How many times have we seen wealth achieved through lies, deceit, fraud, slavery, exploitation, shrewd unfairness, hatred, division, war… wealth that corrupts those who possess it like Gollum’s ring. Unjust wealth. Wealth and prosperity accumulated without merit, only to be followed by miserly hoarding or fat cat blow outs to exponentiate their belief that the richer they are, the more value they have over their peers (those who aren’t peers obviously can’t even compare). How many times have we seen wealth hoarded forming big stinky piles of money doing nothing other than feeding ego bloat. Then the millennial’s come along justifying “something for nothing” thinking “oh, money is just a human creation, its abstract, we’ll just QE our way through it” abandoning the need to earn it through? MERIT.

Merit. Lost on some of us I know, but the same someone’s should really try it some time, the world would be a better place.

#79 Inequity on 09.18.20 at 4:00 pm

#72 Franco

You can also say that Millions have died from religious thinking

#80 Gregor Samsa on 09.18.20 at 4:04 pm

History doesn’t repeat, but it rhymes. I wish that the “Gulag Archipelago” was mandatory reading in schools in this country. It should be. What one learns there is that people have had these ideas before: the idea that there are “evil rich people” hoarding all the wealth. But invariably, the tiny % of actual evil rich people flee to safety and the mob turns it attention on something more tangible: the successful farmer, the successful business owner, the successful worker. Those that took risks the mob didn’t take. Those that worked harder. Those that applied themselves. These are the ones who must ultimately pay when the mob comes looking for a free lunch. And then the same mob starves to death in the cold because nobody was left to grow the food, run the businesses, and keep the lights on. A horrible future awaits, if we just let it happen.

#81 Doug t on 09.18.20 at 4:06 pm

Canada is hooped – welcome to t.he new world order cause it ain’t going back to the good old days. This road that they are taking us down will lead to a Depression if they are not careful

#82 Millennial Realist on 09.18.20 at 4:07 pm

Sorry, Paleos.

You have screwed up our world too much.

HUGE change is coming, there is now no other choice.

It starts in 5 days.

Be part of the change.

Or be run over by it.

(And if you choose to be run over, that will be sad, but we’re cool with that. )

#83 FO on 09.18.20 at 4:08 pm

If Garth’s prognostications come to pass on UBI and the funding sources thereof, the exit tax I had the shell out last year will be small price to pay indeed.

#84 Cristian on 09.18.20 at 4:09 pm

Interesting article at https://www.marketwatch.com/story/the-world-is-on-the-cusp-of-a-new-era-says-deutsche-strategist-and-heres-what-it-means-for-markets-11599589831
So I guess we’d better accept the inevitable and let each look for their own interest and decide how and where it’s best for them to live.
I, for one, will pack and leave Canada for good. Probably sometime next year. To a country with less taxation, better healthcare, better climate.

#85 Lesser Ape on 09.18.20 at 4:09 pm

That UBI funding document is very strange, since it basically seems to imply that you can implement onerous taxes on things, and, if people are to change their behavior at all, it will be to do things that will generate more taxes.

For instance, take the 0.2% transaction fee on financial transactions that they think will raise $160B, 10% of GDP. A huge percentage of financial transactions will be market-making where the profit margins will be less than the 0.4% round-trip tax. So why would one assume that someone would keep doing those transactions if the government is taxing away all the profit?

In fact, how do you look at the $160B number for the revenue that a financial transaction tax will bring in, see that it’s about a tenth of the entire economy–five times what the government collects in GST–and think, “Yeah, that’s about right. Few people will notice a 0.2% tax on financial transactions while it sucks 10% of Canada’s economy in government coffers.”? Do people really think that’s a reasonable view of how the world is?

(Heck, if you really believe in that $160B number, income taxes are about $330B. Forget UBI… let’s just add that “small” 0.2% financial transaction tax and cut income taxes by 50%.)

And that’s just one example. There’s a bunch of cases where they assume that one can add a massive tax burden to something, and that people won’t change their actions to avoid paying it.

#86 yvr_lurker on 09.18.20 at 4:14 pm

I am not going to get my knickers in a twist with this rather shrill commentary today on things that may or may not come to pass. I don’t expect any huge paradigm shifts; just a perturbation on the status quo that will affect mostly a relatively few well-off people who may have to pay a bit more. More importantly today is that if I do not get some dog bones from the IGA before supertime my Labrador will be super shrill to voice his displeasure at not having a dessert after his dog food is devoured within 20 seconds.

#87 Earlybird on 09.18.20 at 4:22 pm

#26 Dogman01 That is exactly the problem…the masses are getting creamed and they are swinging left! With rate too low for too long, housing is unaffordable for most, renting or buying. Low pay and no upward mobility is recipe for disaster. Think people will vote conservative when this is the majority of peoples reality. The old “pull up your bootstrap” “work hard” is the old economy ….and is disfunctional. Working poor would just rather be poor….political leaders are filling in the gap where crapitalism failed….sad to see it come to this.

#88 Shirl Clarts on 09.18.20 at 4:23 pm

You would think we have struck a balance in this country, and all we need to do is refine and maintain.

Everyone should be happy with the current system.

The government back in 1990 stopped funding UI/EI benefits, pushing the burden away from the taxpayer, to the employer/employee. It was the right move. Unpopular, but it made sense. Any yet brought to you by a Liberal Gov’t.

UBI will be, quite literally, a massive reversal of fortune, wiping out DECADES of UI/EI refinement.

Mills, this is not your Father’s Liberal Government.

#89 FreeBird on 09.18.20 at 4:25 pm

For those who think older MDs should retire to make room for new ones: we have a shortage in many cities and areas of practice in this country and new ones often take on smaller case loads with shorter hours. Not a problem until you or someone you care about needs one in any given situation. Knowledge that only comes with experience in medicine is invaluable and can be life saving.

#90 Dolce Vita on 09.18.20 at 4:32 pm

I really liked your COVID game scores Garth.

Though I’d give it a shot with Europe.

————–

COVID 1.4, UK -12,000,000, Canada -1 largest European trade partner

Covid UK Rt =1.4 today. Boris going to lockdown 12 Million people starting Sept. 22 (partially, what does that even mean?). Considering locking down London in 2 weeks time, meanwhile, NHS told to clear beds for an ICU spike in 2 weeks time. And the “6 Mate Rule”, no cavorting in groups larger than that. Merry Christmas, 2+ sittings. 6 Mate Rule partially handicaps Irish “in the round” drinking.

————–

COVID 200+ Spain +XXX €’s

Deaths going up over +200/day and rising but tourism €’s still coming in as a Swiss Banker from Zurich reminded me of yesterday on Twitter. Spanish idea of acceptable collateral damage. I mean you know, 11000 new cases per day, someone was bound to notice the bodies piling up as a result.

————–

COVID 0 Deutschland 0

Deutschland starting to have a kanipshit with cases over 2100/day but no deaths, since there is no COVID checkbox for that on German death certificates AND it’s not their fault, it’s the fault of The Netherlands, Austria, Hungary (not on their border, but restricted nevertheless, just in case), Poland, Denmark, France, Czech Republic, Belgium…did I miss anybody they have NOT put on their Restrictive Travel Dung List?

OK, Italia not on their list ’cause they have to go somewhere on vacation where they feel safe and they can finally have a decent meal for the first time in the year (and as always, Italia needs the cash).

————–

COVID 1 France 0.XX (partial fraction)

Partial as in their lockdowns all over hells half acre. Not working 10600 cases/day, up, up and away and death about 100/day and increasing. But Emmanuel threatening France with a lockdown for weeks now. It’s like Emmanuel vs. French people: I double dare you, no you don’t, yes I do, no. Of course, now that the UK is locking down a good chunk of his country, Gallic arrogance will prompt Emmanuel to lockdown ALL OF FRANCE to show that France is more responsible than Rule Britannia.

————–

COVID 0.92 Italia Vendemmia +++2020.

0.92 = Rt in Italia today, 15/21 Regions well below 1.0. Low cases vs. the above nations and many others at 1585, low deaths, 13 yesterday and YES, Italian Death Certificates have a CHECKBOX for Covid, unlike the Germans. A good harvest this year, great grapes, slightly lower yield. Opimian’s, put that on your calendar.

————–

SUM TOTAL = 3/4 G7 having elevated problems with COVID be it cases or deaths. Will affect their economies. Italia not so much, for now.

My take on Europe so far. it’s been fun until that DAMN VIRUS showed up in town.

#91 Billy Buoy on 09.18.20 at 4:33 pm

And if anyone is stupid enough to believe that this wasn’t the only alternative left after all the debt on our hands and old socities, boy you really are dence.

Viva Socialism good night Middle Class.

Hope you all enjoyed the party while it lasted comrad.

#92 Guelph Guru on 09.18.20 at 4:38 pm

This is an inherent flaw in democracy. If the leaders are not selected properly, it can easily slide towards socialism or some other ism. The majority of us are going to approve of this. People who have saved and have assets to protect would object to this robbery. They will be in minority and hence inconsequential.
This can lead to a massive outflow of capital. Anyone with assets would have to leave Canada to save their assets.
No need to save for a rainy day as big brother is always there to take care of you. Where have we heard this before?

#93 LesserApe on 09.18.20 at 4:39 pm

The other thing I find goofy about the UBI funding document is how it classifies things. For instance, they have a “reduce government expenditures” section. And 95% of that section’s $147B gain isn’t actually reducing government expenditures, but rather add and increasing taxes.

Specifically, the document suggests getting rid of the basic personal exemption and RRSP deductibility. Getting rid of the basic personal exemption is adding a tax equal to the lowest marginal rates on your first $12K of income. Eliminating RRSP deductibility is taxing capital added to the RRSP at your highest marginal rate.

These aren’t government expenditures. They’re new taxes on people. You can tell because with expenditures, money flows from the government to people, while with taxes, money flows from people to the government.

And it makes me think, why would they lie by classifying new taxes as “reducing government expenditures”?

#94 Ootofthehoos on 09.18.20 at 4:42 pm

The religion=war lie was disproved in The Irrational Atheist where the author added up the wars and showed that few were religious causes relative to other causes:

Old atheistic lie is not repeated any longer:
* #72 Franco
*
* You can also say that Millions have died from
* religious thinking

#95 Howard on 09.18.20 at 4:46 pm

Canada desperately needs a Margaret Thatcher.

#96 crossbordershopper on 09.18.20 at 4:49 pm

Karl Marx 1, Covid 19, 1, Personal Freedom 0

#97 jess on 09.18.20 at 4:53 pm

hacking your brain:
hook line and sinkers

https://ml-implode.com/fulllist.html#lists
———————————-
alternative facts
Trump this week praised QAnon supporters as people who ‘love our country’

https://www.rightwingwatch.org

#98 Karl Max III on 09.18.20 at 4:54 pm

If this is true – what is the incentive to innovate, take risks and work hard? Everyone get what they need and contribute only what they can, right?

#99 Immigrant on 09.18.20 at 4:58 pm

Oh my . I was so happy I came to a developed country and now Canada begins to sound more and more as something I left behind. Ah well, the saying turns to be true: the only thing we learn from history is that nobody learns anything from it.

#100 RIP CANADA on 09.18.20 at 4:59 pm

so sad to see what this country has turned into, but countries get the governments they deserve.

#101 islander on 09.18.20 at 5:01 pm

https://theconversation.com/from-each-according-to-ability-to-each-according-to-need-tracing-the-biblical-roots-of-socialisms-enduring-slogan-138365

You might want to click that mouse more than once – dig a little deeper (takes an extra nanosecond).

“From each according to ability; To each according to need,” is a phrase derived from where?

A) The works of Karl Marx

B) The Bible

C) The Constitution of the United States

If you answered “A,” you are kinda right. But if you answered “B,” you’re not exactly wrong either.

“C,” on the other hand, would get you zero points. But you would not be alone in getting it wrong. In a 1987 survey, nearly half of Americans surveyed believed the phrase “From each according to ability; To each according to need” came from the U.S. Constitution.

The phrase was, in fact, popularized by Marx in his 1875 Critique of the Gotha Program. But its origins are in France. ”

“Where does the Bible come in? Well, Saint-Simon, Cabet and Blanc – all committed Christians whose social programs were inspired by their faith – borrowed each of these phrases from French Bible translations of the time, and defended them on scriptural grounds. ”

So stick that in your pipe and smoke it!

#102 Matsebula on 09.18.20 at 5:04 pm

It is incredible that people think socialism will work. Read up on Thomas Sowell’s examination of Karl Marx as one of the most venal, petty, unintelligent, selfish humans ever to walk the earth. And then look up the estimate of how many people socialism/communism has killed since it came into vogue. Evil.

#103 Bytor the Snow Dog on 09.18.20 at 5:10 pm

I’m deeply disappointed in Doug Ford. But I’m more disappointed in myself for thinking I was voting for a conservative.

May as well have voted for Wynne.

#104 Steven Nicolle on 09.18.20 at 5:11 pm

Retail sales grew 0.6% last month after 23.7% rebound previous month. That is a sure sign a rebound recovery is over. No one is buying in stores and that is not good thing heading what is sure to be a massive 2nd wave. They cannot shut the economy down like March so the cases numbers will be worse. Wait and let’s see what the winter brings. I think there will be many bankruptcies to come.

#105 Damifino on 09.18.20 at 5:14 pm

#11 Old Ron the Realtor

I could crawl across Yonge street at noon today without getting hit by a car. The economy is on life support.
——————————

Try that on 4th Avenue or Granville Street in Vancouver and you will be flattened in a heartbeat. We seem to be booming here. Pretty much as busy as ever. The only obvious difference is that almost everyone is sporting a new fashion accessory across their face.

#106 Linda on 09.18.20 at 5:24 pm

In point of fact, the densification of inner cities has been a stated goal of many municipalities for quite some time. As in more than a decade ago. While the pandemic may have given them the ability to push through legislation that normally would be stopped by public outcry (hard to hear anything muffled by mask), the fact remains that people say they want 1) affordable housing; 2) be close to amenities; 3) have safe, reliable transit/transportation; 4) be able to walk or ‘wheel’ (because bicycles aren’t the only form of human powered transit) to all their desired destinations; 5) do NOT want taxes to continue to increase; 6) support various green initiatives, especially the reduction of greenhouse gases. There is more than the points previously stated but those are the most likely to be voiced.

However, our cities are built to support a lifestyle based on owning/operating a vehicle. Problem is, our cities have vast swathes of older neighbourhoods that come with older infrastructure. Infrastructure that is reaching or has passed its ‘best before’ date. Infrastructure needing replacement that makes buying a house, even in these crazy times, look like chump change. The main driver of densification/intensification of older communities is the basic fact that it costs much more to keep building ‘out’ from an infrastructure/provide services point of view. Lots of inner city older neighbourhoods where I live that are seeing SFH disappear.

#107 Mr Canada on 09.18.20 at 5:25 pm

Early Retirement = 1 Pay Taxes = 0

#108 twofatcats on 09.18.20 at 5:32 pm

UBI could work if implemented correctly. More like $1.3K/mo. But.. all existing transfers are eliminated.

$1.3K/mo to every citizen 18 yr – death. It is universal – no means testing and no clawback.

No more OAS, GIS, welfare, disability, CTB, paid maternity leave, subsidized daycare, subsidized pharma and anything else handed out where the recipient does not directly contribute. No more subsidized housing – you rent your apartment on the open market like everyone else.

The same people who say we cannot afford UBI are the same people who say ‘But we CAN afford OAS, GIS, welfare, disability, CTB, mat leave, subsidized daycare, subsidized pharma, subsidized housing AND A MASSIVE UNIONIZED GOV’T BUREAUCRACY TO ADMINISTER IT!

#109 NoOneOfConsequence on 09.18.20 at 5:32 pm

Hurray!

I don’t need to save for my retirement any more! Thank goodness! That was getting tiresome!

Invest? ETFs? RRSP? Save for a rainy day? Be productive and invent something? Pfft! Who cares!

I can ski, surf, laze about, smoke weed and chill for the rest of my life!

This UBI gig should last juuuust long enough for me to live the gravy train until it all falls apart.

I say $2000 per adult is too little, let’s tell those guys to get bent and vote in the guys who bump it to $5000 per adult!

#110 Ace Goodheart on 09.18.20 at 5:33 pm

This UBI stuff assumes that people will actually pay all these taxes.

People will continue to work, but instead of contributing to an RRSP, they’ll just happily give their RRSP contribution to the government, to be given to someone else who has decided not to work.

People who own houses will gladly pay a “land tax” every year, even though they are not working and have no income other than the UBI.

Everyone will just stay home, earn nothing, collect the UBI, and still pay billions of dollars in taxes.

Good luck with that.

Communism always works out the same way. You have a vast, endless supply of worthless commie money, printed by a government printing press gone out of control.

You have a shortage of consumer goods. Long wait lists for anything of value.

And everyone just sits around. No one does anything. Services are a joke. No one cares. You can’t get anything done. Shortages of everything.

Communist style. Get ready for it.

#111 Moonshine on 09.18.20 at 5:36 pm

UBI Works….very disturbing to read this site. T2 was really impressed by Fidel Castro a close friend of his father and his mother … CANACUBA is the future of the country if the liberals are elected by majority next spring

#112 Earlybird on 09.18.20 at 5:37 pm

#97 Karl MaxIII People could take on bolder more innovative risks if they had a backstop in place, in our current system, less risk is taken. Unleash more micro businesses and human potential and hard work will follow. Ever had a job you loved? You never work a day in your life if you do what love….

#113 BlogDog123 on 09.18.20 at 5:39 pm

UBI,
Unlucky Buyavoter Initiative,

Once upon a time, didn’t someone drive homeless people from Toronto and dump them in Hamilton, let that two-horse town deal with them? Or is that some legend?

Same thing here: You can’t afford a home?? Tough luck, we’re sending you from pricey Toronto, ON to Saguenay, QC, or somewhere with affordable $70,000 homes… check out these fine Realtor.ca listings:

https://www.realtor.ca/map#ZoomLevel=9&Center=48.378616%2C-71.127690&LatitudeMax=48.78924&LongitudeMax=-69.71045&LatitudeMin=47.96465&LongitudeMin=-72.54493&Sort=1-A&PGeoIds=g30_f2t7jmg5&GeoName=Saguenay%2C%20QC&PropertyTypeGroupID=1&PropertySearchTypeId=1&TransactionTypeId=2&PriceMax=96000&Currency=CAD

#114 The Woosh on 09.18.20 at 5:43 pm

#88 FreeBird on 09.18.20 at 4:25 pm
For those who think older MDs should retire to make room for new ones: we have a shortage in many cities and areas of practice in this country and new ones often take on smaller case loads with shorter hours. Not a problem until you or someone you care about needs one in any given situation. Knowledge that only comes with experience in medicine is invaluable and can be life saving.

———————————

I’m just calling his bluff for what it is…BS. His argument is “I’ll stop working if I can’t get what I want”. Sounds very much like a typical millenial argument. Or should I say a Boomer argument. Millenials…Boomers…all the same in the end!

#115 Damifino on 09.18.20 at 5:46 pm

#60 Dolce Vita

0.2% on any digital financial transaction. So if you pay your bills or do anything financial online, you get dinged.
——————————-

If you paid rent of 3200 per month, that would be an extra $76.80 annually vanishing into the swirling maw of carefully monitored, corruption free wealth redistribution.

I can see a strong return to check writing, although I’d suppose landlords would get dinged the 0.2 % at the time rent checks were deposited.

#116 Let them eat cheesecake on 09.18.20 at 5:46 pm

Polls give this new reality a big thumbs-up.

—-

type ‘Canada-US border closing’ into google and you get dozens of headlines saying ‘80% of Canadians support a closed border’, it’s not true.
This type of propaganda is hoax management- the hoax is ‘you live in a democracy’ you don’t. If 80% of people want to cancel the mask bylaws, do you think it will happen? Of course not.

#117 willworkforpickles on 09.18.20 at 5:48 pm

#51 – telling it like it is

You told it like it is.

#118 Kate on 09.18.20 at 5:49 pm

“From each according to his ability, to each according to his needs.” – I do not need to google it. When I was a kid, my grandfather taught me that this is how society will look like when I grow up.

#119 Dog Breath on 09.18.20 at 5:49 pm

“From each according to his ability, to each according to his needs.”

I’m pretty sure it was Groucho Marx who said that.

#120 Linda on 09.18.20 at 5:50 pm

The belief that ‘taxes won’t have to be raised’ ignores the UBI website platform that – um – raises taxes. On just about everything that might be ‘owned’ by ‘rich’ people. I especially like the belief that eliminating the basic personal exemption will not result in people paying more in tax. Tax apocalypse. Who needs a slasher flick to have the crap scared out of them?

#121 Garth's Son Drake on 09.18.20 at 5:56 pm

These policies make sense except for the one out of Vancouver.

Easing restrictions in Vancouver to densify is a gift to home owners as property prices will sky rocket. Do you really think allowing a lot to be split will make it more affordable? It allows you to sell off half of your yard for 4 times more than you paid for the entire thing.

UBI starts September 27, 2020.

Listen, Canada is the first experimental trial of MMT for the Western World and UBI is apart of that.

Let’s focus on the real threat: COVID. It is going nuts all over. 2nd shutdown coming. The second wave is already triple the first one. Don’t just focus on deaths. There is crippling and lasting health effects from this thing…

And now we know the vaccine won’t be in for the entire population until next APRIL!

Obviously some good buying opportunities in the markets (wait for Bill Ackman to claim the world is ending on CNBC for your chance to buy), but your health and future well being could be taken out by this virus and the money doesn’t matter at that point.

#122 The West on 09.18.20 at 5:59 pm

The comments section is lit up today!

And WHOA! You’re telling me that no one has seen this coming? For decades we have sent our kids to public schools that laud the “Canadian Middle” and demonize “American Capitalism” we find ourselves in a place where entitlement without understanding has led to laziness and acceptance? You’ve got to be kidding me….

There is no “politics”, Garth – it is a melodrama for us to follow as the economy prattles on – and this ship can’t be saved. Rather than face the angry mobs who fully understand their future has been stolen from them, they are placating us with poisoned food and a kennel to embrace all of our hedonistic, lower self animal instincts.

Aldous Huxley wrote a book called “Ape and Essence”. Essentially, it is a paralleled sequel to Brave New World.

Let’s grow fat, lazy and stupid in our kennels with no human interaction around us and see what the outcome is.

The western world has failed because we don’t understand the great gifts of a free market that were handed to us. And trust me – there is still a loooong way to fall.

#123 willworkforpickles on 09.18.20 at 6:00 pm

#53 Ace Goodheart
Believe so.

The fish rots from the head down. If we don’t stop the far left now they will bury this country.

#124 Paul B on 09.18.20 at 6:02 pm

Very sad. Socialism is a Siren call to those who would rather be a victim than resourceful. In the end, socialism leads to poverty and restricted freedom for all but the new ruling class. Solzhenitsyn should be required reading.

#125 MF on 09.18.20 at 6:06 pm

These comments are hilarious.

thanks to #32 Billy on 09.18.20 at 2:35 pm for posting something worthwhile.

Here’s a repost so everyone else can read it:

https://nationalpost.com/opinion/chris-selley-universal-basic-income-is-not-coming-to-canada-no-matter-what-the-liberals-say

#45 WEXIT on 09.18.20 at 2:58 pm

I love this type of comment. If anyone is afraid of extreme leftist politics just take a peek at some of the proposals of the Democrat party in the US. They would make our NDP blush. So have fun.

#51 telling it like it is on 09.18.20 at 3:06 pm

Canada will never be Argentina, or Venezuela. Hyperbolic fear mongering.

#57 Millennial 80%er on 09.18.20 at 3:14 pm

There is a huge international movement to close the loopholes for mega wealthy tax evasion. In time, they will be closed but we aren’t there yet. Plus, the US has a lot of problems on its hands right now.

Where are the wealthy people going? To every western country on earth. Your premise is incorrect:

https://www.visualcapitalist.com/global-migration-of-millionaires/

MF

#126 Don Guillermo on 09.18.20 at 6:07 pm

#110 Moonshine on 09.18.20 at 5:36 pm
UBI Works….very disturbing to read this site. T2 was really impressed by Fidel Castro a close friend of his father and his mother … CANACUBA is the future of the country if the liberals are elected by majority next spring
*************************************

For years Canada has been flirting with bringing a Caribbean island into the dominion. Let’s forget about the Turks and Caicos and bring Cuba in. They will be invaluable in helping with the upcoming transitions.

#127 Stone on 09.18.20 at 6:15 pm

#37 Original PK on 09.18.20 at 2:46 pm
UBI will be the end off my working career in Canada. Having worked for 30 years as a physician and saved for retirement, acquired wealthy slowly and with many sacrifices I just don’t see a reason to continue to work under these circumstances. i probably would have worked another 5-7 years but what would be the point?

———

Not that I’m surprised but aren’t doctors supposed to altruistic, thinking about healing the infirm? Sounds like you’re just in it for the money.

I only point that out as you so graciously pointed out that you’re a doctor…because you thought it was important to highlight that.

Because, you know…doctors.

Good of you to quit. Don’t think I’d want to be treated by you. Better someone else with truer intentions to take your place.

Bye.

#128 NSNG on 09.18.20 at 6:17 pm

Six houses to replace one?

Imagine the traffic. I’ll bet they haven’t thought that through. At the same time Vancouver is doing it’s best to restrict car movement. What a mess.

#129 S on 09.18.20 at 6:19 pm

#9 Tater on 09.18.20 at 1:52 pm

“And if you defend the current system while not in the top 1%, you’re a chump. “

Or someone who believes in herself and thinks that through hard work, perseverance and a bit of luck she can join their ranks, like many have before. On a long run the only thing socialism trully guarantees is universal poverty.

#130 Ponzius Pilatus on 09.18.20 at 6:20 pm

I’d like to share the below article with fellow blogdogs, who are interested in 
Digging  deeper into the UBI,GBI debate.

Then last weekend, Liberal MPs announced they had made the implementation of a GBI their top policy resolution for consideration at the party’s national convention on Nov. 12-15, for debate and a vote.

The idea of GBI is not new. In fact, it was first floated in the 16th century by humanists like Thomas More and Johannes Vives, and described by the Portuguese traveller Raphael as the “cure for theft.”

The great American revolutionary and philosopher Thomas Paine also backed the idea of GBI in the 18th century, arguing for such “payment to every person, rich or poor, because it is in lieu of the natural inheritance, which, as a right, belongs to every man, over and above the property he may have created, or inherited from those who did.”

https://theprovince.com/opinion/columnists/fatah-why-we-need-a-guaranteed-basic-income/wcm/e92ca3e8-7d55-4abf-b78f-31613c08c27a/

#131 willworkforpickles on 09.18.20 at 6:27 pm

The rich need to get behind the federal progressive conservative party in a big way with support to help them educate the public at large of the greater evils of the growing far left.
Support well spent like now/yesterday than watch that money that could have been put into a pc support movement be taxed away later by the hungry far left.

#132 Cheese on 09.18.20 at 6:30 pm

Everyone seems to think $2000 a month is very little. It is literally my wage working in a hospital.

#133 Arcticfox on 09.18.20 at 6:31 pm

Garth..I think history will reconcile that “free” market capitalism met its Waterloo shortly after the turn of the century!

#134 Ferry Boy on 09.18.20 at 6:35 pm

Well I hope they are going to manage to roll in the national drug program as part of all this .. only another $15 billion or so .. pocket change now

#135 OK, Doomer on 09.18.20 at 6:37 pm

Never waste a good crisis to jam totalitarianism down people’s throats. It’s the only time they’ll be docile enough to sit still for it.

#136 Sunnyways on 09.18.20 at 6:39 pm

#97 Karl Max III on 09.18.20 at 4:54 pm
If this is true – what is the incentive to innovate, take risks and work hard? Everyone get what they need and contribute only what they can, right?
————————————————————————————————-

Societal incentive will change. No more hard work, overtime, pay it forward, donate to charity, save, invest etc

Instead it will be : appear as poor as possible in order to qualify for as much as possible. This is already happening to some extent.

Only way UBI works to artificially goose GDP is to tie it to a spending deadline. IE you must spend all of it by the 28th of each month in order to be eligible for the next instalment. GDP will explode higher. But we won’t produce any actual wealth and we won’t provide any actual service.

Anyway what a coincidence they acted so quickly on the gun ban. Also convenient how they have moved from a few“assault weapons” to over 1600 different models including shotguns and bolt action rifles. Will anyone notice if they just say all the guns at this point? An unarmed population is much easier to subjugate.

Everyday that goes by TurnerNation is NOT proven wrong.

#137 Flop... on 09.18.20 at 6:40 pm

#128 JoinEm on 09.18.20 at 1:09 am
#67 flop

What was your real estate blog? Link?

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

It was called Pink Snow Real Estate Blog.

It was a year long tribute project to Boom.

Managed to get some realtors to see that transparency could be their friend.

One realtor that used to help me with real time numbers, when you couldn’t get any in Vancouver, has since launched his own very handy website that is a useful tool for house hunters in this city.

I managed to raise a little bit of money for The Terry Fox Foundation, with my Flop For Fox Fund, too.

I put in back in mothballs last March.

It’s probably still up on the web somewhere in the way back machine.

With all the people paying their respects to Smoking Man, hopefully someone does a tribute project of their own description, especially since Jim wrote this in his last post.

“In a short span of time I’ve gone from a make money Maverick to a how much time do I have left. Take in the views, plan the next vacation before it’s to late, start helping other’s.”

Wayne Gretzky was The Great One.

Jim Stojsin was The Deleted One…

M46BC

#138 Steven Rowlandson on 09.18.20 at 6:41 pm

Too many people will believe anything the media and government tells them regardless of if it is true or not Garth. If it were not so dangerous to peoples spiritual, financial and physical health it would be funny.

#139 Ponzius Pilatus on 09.18.20 at 6:42 pm

#57 Millennial 80%er on 09.18.20 at 3:14 pm
The more the super rich get taxed, the more they’ll invest in moving their wealth elsewhere. The one thing the rich are really good at is tax avoidance. It’s part of the reason of why they’re so rich. Removing “tax shelters & exemptions” will basically kneecap upward mobility from the lower strata of society. RRSPs & TFSAs don’t help the super rich as much as it helps the middle class build a secure base of wealth.

And if our increasingly shrinking middle class get taxed anymore, they’re going to leave. They tend to be skilled professionals, and the USA will welcome them with open arms. Let’s not suffer from any more brain drain.
——————
So, you’re saying rich people are rich because they are good at avoiding taxes,
Not because they are creating profitable businesses that employ many people.
Well, I agree with you on that one.
As for brain drain, the only drain brain has been happening on this blog lately.
Smokey was a good example.

#140 Well Travelled on 09.18.20 at 6:43 pm

I have worked hard all my life and am in no way a “socialist” but, I have to admit that many / most of the ultra rich surprise me that they don’t see the wealth gap expanding and the anger against them building. I mean, why can’t a guy like Bezos see that he has become a target of everything “evil” and give away even half of his trillion dollar fortune to benefit mankind?
By not choosing to act and be seen as being magnanimous, they are fueling the pressure to “equalize” the Ultra wealthy.

Bezos employs 750,000 people. And you? – Garth

#141 Mil,notmoist on 09.18.20 at 6:48 pm

So disappointing. Why does everyone want something for nothing? Especially when that something has to come from someone else.

Brother in law – 25, just finished school, entry level job – “I’m as left as left can get, bring on the UBI. I don’t have enough”. Me – “Who’s going to pay for your UBI?”. Brother in law – “Rich people”. Me – “Your wearing $500 headphones, have the latest iphone, just took a week long vacation and drink starbucks every day – seems like you are doing alright”.

Doesn’t matter though… he wants more…and he votes.

#142 Steven Rowlandson on 09.18.20 at 6:54 pm

In respect to #57comment it is better to treat all income earners equally tax percentage wise and pay attention to preventing the wealthy from buying the government by any means. Government needs to be free of being influenced by special interests so that it can focus on the over all good of the nation.

#143 Ponzius Pilatus on 09.18.20 at 6:55 pm

#83 Cristian on 09.18.20 at 4:09 pm
Interesting article at https://www.marketwatch.com/story/the-world-is-on-the-cusp-of-a-new-era-says-deutsche-strategist-and-heres-what-it-means-for-markets-11599589831
So I guess we’d better accept the inevitable and let each look for their own interest and decide how and where it’s best for them to live.
I, for one, will pack and leave Canada for good. Probably sometime next year. To a country with less taxation, better healthcare, better climate.
———–
That country is called UTOPIA.
Many have gone to seek it.
No one has returned.
Because it’s in your head.

#144 Splendiferous on 09.18.20 at 6:58 pm

I didn’t know you were a Buffalo Springfield fan … maybe you didn’t either!

_____________________________________________
For What It’s Worth – Buffalo Springfield
_____________________________________________

There’s somethin’ happenin’ here
But what it is ain’t exactly clear
……..
There’s battle lines being drawn
And nobody’s right if everybody’s wrong
Young people speakin’ their minds
……..
A thousand people in the street (ooh-ooh-ooh)
Singin’ songs and a-carryin’ signs (ooh-ooh-ooh)
Mostly say “Hooray for our side” (ooh-ooh-ooh)
…….
Paranoia strikes deep
Into your life it will creep
It starts…

Sheesh. It took almost 150 comments before somebody got it. – Garth

#145 Ronaldo on 09.18.20 at 6:58 pm

#6 millmech on 09.18.20 at 1:17 pm
Covid cases in BC at new daily all time highs, more closures and restrictions coming, recent mortality from this virulent slate wiping killer. One death, in a long term care home not from Covid but with Covid.
So far 221 deaths in total in BC, hospitals obviously overwhelmed with 22 ICU cases right now.

https://www.cbc.ca/news/canada/british-columbia/bc-overdose-numbers-ojuly-2020-1.5698795
The graph in the above article should tell you what you should be worried about getting wiped out from.
——————————————————————
Yep. Cases, cases, cases. Keep the fear fueled. Of course the more they test, the more cases you get and here in BC they want the testing to rise to 20,000 per day so expect daily cases to rise to 400 or more. That should scare the heck out of everyone. Testing stations will be overwhelmed as people run to get tested whether they have symptoms or not. It’s getting crazier every day. The unintended consequences are going to be immense.

#146 Pete from St. Cesaire on 09.18.20 at 7:03 pm

SUNNYWAYS :”Only way UBI works to artificially goose GDP is to tie it to a spending deadline. IE you must spend all of it by the 28th of each month in order to be eligible for the next instalment.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
For a while, back around 2006, Zimbabwe printed paper money with an expiration date on it. The expiration date was about 6 months in the future.

#147 CJohnC on 09.18.20 at 7:03 pm

#40 C V on 09.18.20 at 2:52 pm

What the future holds has never been certain, but it is certain that it is more uncertain than my generation or the two generations before me.
********

Or as Donald Rumsfeld would say; What the future holds has never been certain because because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.

#148 Don Guillermo on 09.18.20 at 7:05 pm

#138 Ponzius Pilatus on 09.18.20 at 6:42 pm
——————
So, you’re saying rich people are rich because they are good at avoiding taxes,

****************************************
Trudeau and Morneau are great examples of rich tax avoidance.

#149 Mark on 09.18.20 at 7:08 pm

How about starting to put a thumbs up and thumbs down dislike button on all blog posts.

#150 MF on 09.18.20 at 7:12 pm

#138 Ponzius Pilatus on 09.18.20 at 6

Haha savage comment. Well done.

The big bad GBI is coming. It’s in its basement right now, dimly lit, drinking shot after shot of jack Daniels and smoking uncontrollably and it is verrrry mad. Who knows what it will do LOL. Let’s go hide under our beds!

MF

#151 Nonplused on 09.18.20 at 7:21 pm

“The $199-billion annual cost of UBI would be financed by (among other things) an end to TFSAs and RRSP deductions, a financial transaction tax (on your ETFs, for example), plus a new tax bracket, higher capital gains tax rates and a clobbering of employers.”

What I don’t get (other than all the rest of it) is why individuals get $2,000/month but couples only get $3,000/month. How does that figure? And why would anyone get married if it’s going to cost you $12,000/year? I think that right there would be a good reason to get divorced. The marriage certificate doesn’t really provide much in the way of benefits these days anyway, it’s more of a social convention.

At first I thought taking away the RRSP deduction was counterproductive as that is how many people save for retirement, but if you are getting $2,000 a month from the Communist Republic of Canada (CRC) then I suppose the incentive to save for retirement is reduced. Or you could just save your UBI.

Wealth taxes won’t work because wealth is not money. Besides most real wealth is already taxed in the form of property taxes and income taxes and capital gains taxes. And figuring out who owes how much is going to be a complete nightmare. Stocks are not money until you sell them and the price changes every day. Sometimes they go down. A lot.

Anyway here’s what happens if this lunacy goes forward:

– Immigration will go through the roof as the whole second and third world tries to move here, lured by the $2,000/month which is an outstanding amount of money for many people on this blue dot.

– While the economically disadvantaged from around the world including the US are beating down our borders, the mobile and productive members of our society are going to move to Texas or the Caymans, taking the taxes with them.

– Foreign investment in Canada will drop to zero. In fact we could see a mass liquidation.

– Inflation will spiral out of control as the invisible hand tries to force the value of not working back to its true value (essentially zero) over time. That means 10 years into this experiment $2,000 is going to get you a slurpee and a chocolate bar.

– Inheritance taxes will really mess with things. Inheritance is already taxed at the capital gains rate, or the income tax rate if the assets are in an RRSP, but then they want to add another 45%? This will invoke widespread tax avoidance. People will either retire earlier or start gifting their children money under the table before they are dead.

– We already have a “luxury tax”. It’s called the HST. You pay a lot more HST when you buy a Lamborghini than when you buy a Corolla. But I guess the idea here is to make the HST progressive like income taxes. Unfortunately that tax will be the easiest to avoid. The rich will simply start driving Corollas.

I could go on and on. Every single part of this plan is delusional, especially the numbers they put on tax revenue. We are at peak tax already. Any attempted increase in taxes at this point will be met with reduced economic activity, nullifying the new tax.

——————————–

“From each according to his ability, to each according to his needs.

You may wish to Google that.”

Didn’t have to Google it. 2 things on that:

Every single nation that has tried it has failed eventually. The Soviet Union made a good go of it because they were selling oil to free market europe but even then most people lived in poverty. And when the Saudis decided they wanted more market share, the Soviet Union collapsed.

Second, the counter quote is “All animals are equal. But some animals are more equal than others.” You can Google that too if you like. No socialist or communist country remains without its elites. Kim Jong-un has his own train and palaces. Yes that is with a plural. The rest of the country has stunted growth because they don’t have enough food, but Kim is doing just fine.

The problem is that when you pander to the lowest common denominator, that is what you get. All democracies fail once the mob discovers it can vote itself freebies from someone else’s wallet.

Folks, it’s time to head for Galt’s Gulch if you can.

#152 devore on 09.18.20 at 7:21 pm

UBI not gonna happen. This is not a utopia, people will not work their asses off just to provide so those who are “not able to” can live comfortably, and the gravy train ends shortly after. And no politician wants to be in power of a decrepit shithole. Maybe once we’re approaching post-labor technologies, not for several decades at least. I can, however, see a greater reshaping of society to align with far-left progressive ideals.

#153 Addy on 09.18.20 at 7:28 pm

Hello Garth:

Have you heard about Addy out of Vancouver? You can invest as little as $1 in properties that they buy so that you can be an investor due to the fact most people can’t afford their own real estate and never will. It is an investment firm.

The premise is based the fact that governments will continue to hyper inflate housing due to cash being deflationary and due to the resulting massive price tag increases on houses, which is going to keep most out, a way for one to catch wave.

Obviously the creators make a cut and can eventually cash out if enough sign on, but does it matter if this pumps it even more or is the hyper inflation real and doesn’t matter anyways and might as well pile in?

https://www.youtube.com/watch?v=j6jZrAWUUjo&feature=emb_logo

Bad idea. Profiled on this blog last year. – Garth

#154 HH on 09.18.20 at 7:30 pm

This UBI plan is nothing more than some type of communist ploy. It does nothing to encourage investment and fix the economy. Where would the growth come from? What an awful idea.

#155 jal on 09.18.20 at 7:34 pm

UBI is already happening.
Why?
Everyone is describing UBI by getting an income and not working for it.
There are a lot of people getting an income by working smart not working hard.
In this case, working smart means getting someone else to do the work for you.

#156 Drill Baby Drill on 09.18.20 at 7:41 pm

“For What It Is Worth” we Canadians are a bunch of economic tards. It is because of this we do not understand how our country makes it’s money and pays it’s bills. Politicians running for election are no longer the best available for what are essentially corporate CEO level positions. I am deeply saddened by were we are at as a country. Canada cannot withstand another phony covid shutdown either.

#157 jess on 09.18.20 at 7:45 pm

justice-ruth-bader-ginsburg-dies-at-87

#158 Flop... on 09.18.20 at 7:46 pm

Was watching NFL last night.

6000 fans in the stands.

Only seen Cleveland and Kansas City with fans in the stands.

Both have Republican Governors, for what it’s worth.

Kansas City plays out of Missouri, so I don’t know why dumb, dumb Trump was congratulating The Great State of Kansas for their Superbowl win.

Maybe because he’s a dumb grifter?

Can you imagine him being in charge during something important like a pandemic?

Hang on, Mr President.

Mishandled Pandemic is on line one.

Why are you mouthing “Forest Management” to yourself in the mirror…

M46BC

#159 Impossible on 09.18.20 at 7:50 pm

Garth,

I think and hope you are completely wrong on this one. It would take decades to implement all those changes. We should just talk less about UBI. Let’s forget forever that terrible idea.

#160 Blessed_Canadian_Millenial on 09.18.20 at 7:54 pm

#50 Piano_Man87 on 09.18.20 at 3:05 pm
If we ever are to reform capitalism in any meaningful way, to bring about environmental sustainability, to change corporations from being ran as totalitarian institutions to democratic ones, or to simply increase worker rights in any large degree, Marx is going to be a part of the conversation. All of our modern views about the flaws of capitalism can be traced back through history to his work.

You don’t need to be a fundamentalist Christian to understand what Jesus was getting at.

——————

Comparing Marx with Jesus now, are we? Hahah.. OK, let me bite.

“If we ever to reform capitalism…” Why would you ever want to “reform” the greatest wealth-creating machine ever built?

“… change corporations from being ran as totalitarian…” LOL… you do realize that no one is pointing a gun to their head if they want to work at any particular organization, right? But if you go the socialist route, you WILL be forced to do things that you may fundamentally disagree with. And if you say something against it, you will be shut down. You will have no rights.

Just read history, my friend. It shall serve you well.

#161 Flop... on 09.18.20 at 7:59 pm

If UBI is coming here then maybe I’ll ask Luxembourg if they’ll take me.

Went there once on my travels, it’s tiny, took a couple of steps to the left and was asked for my passport as I had crossed the country borders.

Canada came in at 52k.

Canada Thawed, also known as Australia, came in at 55k…

M46BC

“Visualizing the Richest Countries in the World in 2020.

Ever wonder why a pint of beer costs a lot in some places, but next to nothing in other parts of the world? Part of the reason has to do with international currency exchange rates, but the biggest reason is that some places are just richer than others, as our latest visualization makes clear.”

There are four countries in the world with a GDP per capita over $100K: Qatar ($138.9K), Macao ($113.4K), Luxembourg ($112K) and Singapore ($105.7K).

The richest countries in the world tend to have small population sizes. For example in Asia, China, India and Japan don’t make it in the top 10.

The US is not even close to being the richest country on a GDP per capita basis. Although the highest in the
Americas at $67.4K, the US is only middle class across the entire world.

Africa is extremely poor. The richest two countries aren’t even on the physical continent, the Seychelles ($33.1K) and Mauritius ($26.5K).

Top 10 Richest Countries in the World – GDP Per Capita (2020)

1. Qatar: $138.9K
2. Macao: $113.4K
3. Luxembourg: $112K
4. Singapore: $105.7K
5. Ireland: $87K
6. Brunei Darussalam: $85K
7. Norway: $79.6K
8. UAE: $70.4K
9. Kuwait: $67.9K
10. Switzerland: $67.6K

#162 MaskArade on 09.18.20 at 7:59 pm

Wow…so Eastern Europe and Russia never defeated the communists, they all moved to Canada, who would have thought that my parents escaped communism from the old country to live a better life and one day their children will be looking to go back and escape communism from Canada.

#163 Earlybird on 09.18.20 at 8:04 pm

Bezo employs 750 000, impressive but most are minimum wage slaves….cant even rent a 1bedroom apartment, eat well and have a bus pass on the wage offered, let alone save and invest in education or retirement. The upward mobility is gone….is this really a good thing or exploitation? Big business did more damage to small business than covid ever will. So big capital takes flight….good riddance. For every 1 walmart gone…100’s of mom and pops will take their place.

Maybe you should check this out. – Garth

#164 Dr V on 09.18.20 at 8:05 pm

Yes “UBI works” is scary. Notice they will not reduce current programs, so it is totally supported by increased taxes.

Definitely not Dr V’s UBI.

Garth – I consider this the best blog topic in a long while. Many good comments.

“Tin soldiers and Trudeau coming, we’re finally on our own…”

#165 Reality is stark on 09.18.20 at 8:06 pm

No need for special programs etc.
1) No OAS if you earn over $55,000 in retirement.
2) 20% property tax increases per year over the next 5 years.
3) Immediate HST increase.
4) Increase income tax across the board.
5) Increase EI contributions from employers and employees.
If you no longer qualify for EI you go on welfare. You get a credit card which pays rent and particular healthy foods only.
We don’t need additional bureaucracy.
Don’t patronize the people. Hammer them with taxes and tell them the socialist truth.
This farce doesn’t come for free.
Level with the people. Time to pay the piper.
The people of this country love taxes so let’s get on with it. Today’s debts are tomorrow’s taxes and it’s already tomorrow.

#166 Jimmy Zhao on 09.18.20 at 8:08 pm

From each according to his ability, to each according to his needs.

Of course the subtle flaw in this theory is that abilities are finite whilst needs are infinite.

#167 jess on 09.18.20 at 8:09 pm

scenarios: the Fed is going to be looking at the “largest counterparty of each firm” and what would happen if it blew up.

Supervisory Scenarios for the Resubmission of Capital Plans in the Fourth Quarter of 2020

https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20200917a1.pdf

#168 Wrk.dover on 09.18.20 at 8:10 pm

Sheesh. It took almost 150 comments before somebody got it. – Garth

————————————–

I was reading my way through the noise to get to the chance to say ” I’d give a lot, a whole great lot, to have been able to have watched Garth reading todays link!”

Also though, Ruth should have let Obama replace her, but was selfish, wanted to press her luck, enjoying holding her position longer.

T will replace her tout suite.

#169 Yukon Elvis on 09.18.20 at 8:12 pm

#157 jess on 09.18.20 at 7:45 pm
justice-ruth-bader-ginsburg-dies-at-87
……………..

Trump gets to appoint another Supreme Court Justice. The Dems will go nuts.

#170 DON on 09.18.20 at 8:23 pm

Garth, as soon as I read UBI I quit my job. I told them to take this job and shove it…I ain’t working at home no more?

Too soon? You didn’t say not to! Argh! Well at least I am going to do well on my recent spur of the moment COVID move. I got a steal of a deal. I picked up a SFH on an acre in downtown Port Hardy for an even 900k. The previous owner couldn’t believe the offer. I told him I was giving him a deal due to the impending work from home revolution, No, no view of the ocean, but I am expecting to triple my money in the next two years. I did get mint 80’s shagg carpet though and a 20×30 portable pool. If that old guy only knew how much money he left on the table. I feel empowered now…time to climb Mount Everest now, I don t need no stinking guide.

#171 TurnerNation on 09.18.20 at 8:24 pm

#13 Richard owning a kando now entails counterparty risk. That the other owners will not get laid off, or the global government take away their means of capital/business, or they might be the underwater AirBB hosts.
Why: of a mortgage, taxes, condo fees; forgoing which one entails the last risk of being fined/sued? The fees.
And if these ‘deadbeats’ get elected onto the condo board and forgo essential maintenance to save its fees. You can see.

#172 Out Of Work CEO, Will Travel on 09.18.20 at 8:26 pm

The upside is Canada will finally have a reason to make Venezuela a new province as we will be in the same economic failed condition. In the past couple of years since Madura came to power the exodus of millions of Venezuelans fleeing starvation won’t be a good ad for a new Canada Immigration Program.

#173 TurnerNation on 09.18.20 at 8:29 pm

#41 Graphics Girl from that text of apparent leaked info from the late 1960s of the New System (which is here).

Truth, fiction or reality? Does it matter now?

“The ability to save would be greatly curtailed. People would just not be able to save any considerable degree of wealth. [He made a statement which recognised] that
wealth represents power, and wealth in the hands of a lot of people is not good for the people in charge, so if you save too much you might be taxed. The more you save the higher rate of tax on your savings, so your savings really could never get very far.
And also if you began to show a pattern of saving too much, you might have your pay cut. We would say, “Well, you’re saving instead of spending. You really don’t need all that money.” ”

“There would be no sympathy for them from the majority who dwelled in the apartments. Then these homes could be taken by increased taxes or other regulations that would be detrimental to home ownership [but] acceptable to the majority.
Ultimately, people would be assigned [to] where they would live and it would be common to have non-family members living with you … This would all be under the
control of a central housing authority. Have this in mind in 1990 when they ask, “How many bedrooms in your house? How many bathrooms in your house? Do you have a finished game room?”

#174 Doug Stanjoeze on 09.18.20 at 8:31 pm

Cheese, your $2,000 a month pay will be really worth nothing after UBI, Universal Basic Inflation and UBI Universal Basic Idiots get there way.

#175 Ronaldo on 09.18.20 at 8:36 pm

#120 Garth’s Son Drake

Let’s focus on the real threat: COVID. It is going nuts all over. 2nd shutdown coming. The second wave is already triple the first one.
—————————————————————-
Still waiting for the first one. What’s going nuts all over are the politicians.

#176 rknusa on 09.18.20 at 8:37 pm

get ready one of the proposals to fund UBI

5% federal GST increase – $36,691,200,000

#177 DON on 09.18.20 at 8:42 pm

Now COVID can enter through the mouth, nose and eyes. A run on swimming goggles..

The media needs to stop their ranting and assess the situation. This virus has been with us for the last year…not just March. We just didn’t know at the time. How did 1918 virus go away.

The point is to not overload medical services for those that will need it the most. Now the goggle shaming will start.

Reality…the inconvenient truth.

#178 Nonplused on 09.18.20 at 8:49 pm

#161 Flop… on 09.18.20 at 7:59 pm

Top 10 Richest Countries in the World – GDP Per Capita (2020)

I fixed it for you:

1. Qatar: $138.9K (exports oil)
2. Macao: $113.4K (exports everything else)
3. Luxembourg: $112K (banking)
4. Singapore: $105.7K (exports stuff and banking)
5. Ireland: $87K (low taxes and exports)
6. Brunei Darussalam: $85K (oil)
7. Norway: $79.6K (oil)
8. UAE: $70.4K (oil)
9. Kuwait: $67.9K (oil)
10. Switzerland: $67.6K (banking)

There you have it. If you want to be rich you have to sell oil or bank.

#179 Suzanne on 09.18.20 at 9:01 pm

DELETED

#180 Trojan House on 09.18.20 at 9:30 pm

#67 Dolce Vita on 09.18.20 at 3:29 pm

Dolce, please go back to the bed in your basement and wet it.

#181 Terry on 09.18.20 at 9:32 pm

UBI…………..in Canada. I would not be surprised. It would be the end for this country and our chance to finally get the hell out of here. The way Canada is going really disgusts me. The politics here are just toxic. This country deserves to fail………….and it will.

#182 Dingo on 09.18.20 at 9:33 pm

#151 Nonplused on 09.18.20 at 7:21 pm
************
Excellent comment as always.
I would be curious – if UBI will be really universal for residents, how long after landing of an immigrant, temporary worker and such can they start collecting it? Asking because I think we will need many more once the veteran ones start applying for it.
On a related thought…I think the solution is an immigration lottery.
Pay 1k/yr to play/get in -this will guarantee you 2k/month plus free healthcare, kid money and housing for life. Bragging rights for being the greenest.
Let’s say a billion applicants who can save this money, we make 1 trillion a year. We can run the biggest lottery in the world on an everlasting increased prosperity promise. Bigger than the housing one.

#183 Dingo on 09.18.20 at 9:38 pm

If GST goes up a lot, I will pray for a Kijiji IPO for my TFSA.

#184 Stratovarious on 09.18.20 at 9:38 pm

Central Banks have distorted markets so much that in spite of a pandemic, 10% unemployment, reduced corporate profits, thousands of businesses closed, and complete annihilation of travel and leisure industry, the stock market is near an all time high. Apparently rich folks have the right to never lose money and the old-fashioned idea of “free market capitalism” is about as dead as a 7% mortgage.

COVID & Greed 1. Risk, 0.

But by all means, let’s tell everyone why it is terrible that rents are frozen, while investors in Tesla, Apple, and Microsoft are rolling in the coin.

#185 akashic record on 09.18.20 at 9:39 pm

People, who don’t have to google this, have been screaming where this is going from the top of their lungs for quite some time, even on this blog.

Way before Covid arrived – as predicted.

That’s where the Covid, 1. this and that, 0. analysis falls apart.

#186 twofatcats on 09.18.20 at 9:43 pm

UBI has nothing to do with Castro, Venezuela, Mao, communism or socialism.

Recent advocates of UBI were Richard Nixon, Milton Friedman and Martin Luther King. None of these men were rabid socialists.

Why do Canadians think it is okay for their taxes to be spent renting an office to an over paid union-protected government worker to lecture welfare recipients on how to live their lives? Why not just hand the welfare recipient (and everyone else) their $1300/mo and let them spend it as they see fit?

#187 Stone on 09.18.20 at 9:52 pm

#163 Earlybird on 09.18.20 at 8:04 pm
Bezo employs 750 000, impressive but most are minimum wage slaves….cant even rent a 1bedroom apartment, eat well and have a bus pass on the wage offered, let alone save and invest in education or retirement. The upward mobility is gone….is this really a good thing or exploitation? Big business did more damage to small business than covid ever will. So big capital takes flight….good riddance. For every 1 walmart gone…100’s of mom and pops will take their place.

Maybe you should check this out. – Garth

———

Garth, maybe you should check this out instead. Never use average as it’s misleading. Median is always the way to look at it properly.

https://phys.org/news/2019-04-amazon-reveals-typical-worker-minimum-wage.html

Sad.

#188 WalterSafety on 09.18.20 at 10:22 pm

On a practical level here in the Maritimes most young people can party hardy on $2000 monthly.
Too bad for employers who now only have a small pool
of willing workers.
UBI will mean some will never work . Productive work that is.
No shortage of illegal drugs and people to move them around.

#189 Balmuto on 09.18.20 at 10:23 pm

A sliding-scale UBI is a garbage idea. You’re basically taking away the benefit of raises at the lower income levels. What a horrible disincentive to work harder and be more productive.

UBI should be everyone, the same basic amount, or not at all. No means-tested nonsense. Take away the disincentive and the extra paperwork.

Middle-income and above that don’t need it will just buy something nice or use it to pay down debt. It will be hugely inflationary, of course. Isn’t that what central banks have been trying to achieve for years?

#190 Figmund Sreud on 09.18.20 at 10:47 pm

Hmmm. There’s something happening here. What it is, ain’t exactly clear.
_______________________

Well, … why wait for clarity? For all those who no longer are able (or willing!) to tolerate Canada, here is but just one potential option: … moving to Russia!

Yes, it is possible, and here is – just perhaps – a helpful primer:

Moving to Russia?
http://cluborlov.blogspot.com/2018/05/moving-to-russia.html

… short snip:

Russia is almost unique in that it is not overpopulated and has all the natural resources, including energy, for many generations to come. It is also politically stable, remarkably well defended, and in spite of much disinfo about how bad its economy is (which turns out to be mostly wishful thinking by those who want Russia to fail) it is actually developing quite nicely.

Best,

F.S. – Calgary, AB.

P.S.: Taxation in Russia:

Snip:

Rate – The corporate tax rate of 20% is a combined federal and regional rate. For the period 2017 to 2024, 3% is payable to the federal budget and 17% is payable to the regional budget. The regional rate may be reduced by the local authorities for certain categories of taxpayer (e.g., Russian entities that are recognized tax residents of special economic zones, participants in regional investment projects, etc.).

… the rest:

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-russiahighlights-2020.pdf

#191 crowdedelevatorfartz on 09.18.20 at 10:48 pm

@#108 ObeseCat
“The same people who say we cannot afford UBI are the same people who say ‘But we CAN afford OAS, GIS, welfare, disability, CTB, mat leave, subsidized daycare, subsidized pharma, subsidized housing AND A MASSIVE UNIONIZED GOV’T BUREAUCRACY TO ADMINISTER IT!”

*******

ahahahahahahahaha

You actually BELIEVE the govt bureaucracy will disappear if UBI is implemented?
ahahahahahahahahahaha…….

My God are Millennials that naïve?

#192 crowdedelevatorfartz on 09.18.20 at 10:55 pm

@#169 Yukon Elvis
“Trump gets to appoint another Supreme Court Justice. ”

+++++
The perfect storm.
A hotly contested Presidential election.
A narcisistic lunatic as the incumbent.
A tie breaking Supreme Court Justice(that hated Trump) dies.
A tie breaking vote that may go … all the way to the “Supremes” to be resolved.

Even if Trump loses…..he “wins”.

#193 crowdedelevatorfartz on 09.18.20 at 11:06 pm

hmmmm
Will the BC Teachers Fed walk out before or after the paid “Pro D Day” at the end of Sept?
(2 weeks after they went back to work after 5 months off)

https://dailyhive.com/vancouver/bc-teachers-school-cancellation-wildfire-smoke-coronavirus

excuses excuses

#194 crowdedelevatorfartz on 09.18.20 at 11:15 pm

@#150 MF
“#138 Ponzius Pilatus on 09.18.20 at 6

Haha savage comment. Well done’
====

would you two like to get a room?
I hear there are awesome deals in Vegas.
And what happens in Vegas……..stays in Vegas.

( i feel a little dirty just typing that………)

#195 Jimmy Zhao on 09.18.20 at 11:21 pm

I followed the link to the UBI.
wow, How can I get a piece of the action !
$500/month DIVIDEND, whoa sign me up,

up to $36,000 per year per couple, GUARANTEED income !

and it’s all free!

#196 Ronaldo on 09.18.20 at 11:41 pm

#77 Inequity on 09.18.20 at 3:57 pm
UBI (Universal Basic Income) won’t be Universal by a long shot.
That is just the marketing name to get it the support it needs…. but the more income that someone makes the more UBI would be scaled back. And you can bet that it will be zero long before you reach the middle income level.
—————————————————————-
Totally agree. We already have minimum income for people 65 and over with the GIS who are the people most in need of an increase in their income.

Currently for a single person 65 and over who only has OAS income receives $916.38 in GIS plus OAS of $613.53 for total of $1529.91.

For a couple, each receive $551.63 plus OAS of $613.53 for a total of $2330.52.

For example if a single person received $5000 ($416.66) in CPP their GIS would be reduced to $646.58. A reduction of $269.80. They would only realize $146.86 of their CPP. Basically a 65% clawback of their CPP.

So, their income would then be OAS $613.53, GIS $646.58 and CPP $416.66 for a total of $1676.77.

GIS is not considered for tax purposes. (non taxable)

Uner current rules, the governmnet allows individuals to earn $5000 from employment income without clawback to their GIS.

From the above you can easily see where the inequities exist in the system for low income earners and why the TFSA came into existance. Unlike RSP’s, the TFSA withdrawals do not result in clawback to the GIS. I do not see the government tampering with the TFSA as this would directly affect low income earners for which the TFSA was designed for initially but was made universal.

What I see happening is that they could reduce the elligible age for GIS to age 60. They could increase the amount of GIS for single person by $500 and for a couple by $800 per month. This would bring the minimum income to $2000 for a single person and $3100.00 for a couple.

Individuals below age 60 unable to work due to illness or disabilities could receive a flat $2000 per month. (not taxable)

There would be no free money for 15 year olds living at home or those considered dependants. Too bad kids.

#197 Tccontrarian on 09.18.20 at 11:45 pm

How does that old Soviet joke go?

“We pretend to work, and they pretend to pay us”!

Coming to a theater near you…with distancing, of course!

TCC

#198 Jose F on 09.18.20 at 11:47 pm

I spent some time in the socialist countries, remember those? They implemented “From each according to ability to each according to his contribution”, contribution meaning work. At the end this experiment ended in total failure. It appears there were more needs than contributions…

#199 Live free or cry on 09.18.20 at 11:59 pm

#13 Richard on 09.18.20 at 1:58 pm

When we feel the need for a warm weather holiday we prefer Hawaii to Florida and Europe is only 1.5 hours further by plane from Vancouver.

——————————————————————

Are you taking a faster plane when you leave from Vancouver? Or perhaps you flew through the Bermuda triangle and lost track of time ….

#200 Mnpr on 09.18.20 at 11:59 pm

Ok… I just got back from hiking into Rocky pass near Cadominalberta. (NEED to APPEND Alberta else spell check insists on changing it to carolina). Too bad to hazy for good views. But if I wasn’t back late I would have TOTALLY been first to comment on the Buffalo Springfield reference. Totally.

#201 fishman on 09.19.20 at 12:16 am

I’ll give the lil potato credit for consistency. Labelled us a post modern country. Now he’s leading us into a postmodern revolution. Old farts want to take their cougar on the gondola to the top of Squamish Chief. Beautiful up there,music concerts, picnic, hiking with a view without the climb. Big country. NO,cut the cable. No FR’s (free rides) allowed. Thats post modern revolution. How about a walk on a 100 year old wooden pier alongside & over the mighty Fraser. The gals like that. No,let the homeless druggies camp underneath & burn it up. Thats post modern revolution. Send a virus into the computer & crash the program. Let post modern Deconstructionist Marxist Leninist thought prevail Let chaos reign.

#202 Gary C on 09.19.20 at 12:27 am

UBI After reading this article I am shutting down my business, as I thought the Liberals would go after retained earnings, re dividends and I was right.
Most small business owners who are incorporated will
close if this is implemented, you will see millions coming out of banks in November December, retained earnings, bonuses, that could be reinvested to grow and employ people, will now be drained out.

#203 Ponzius Pilatus on 09.19.20 at 12:36 am

#172 Out Of Work CEO, Will Travel on 09.18.20 at 8:26 pm
The upside is Canada will finally have a reason to make Venezuela a new province as we will be in the same economic failed condition. In the past couple of years since Madura came to power the exodus of millions of Venezuelans fleeing starvation won’t be a good ad for a new Canada Immigration Program.
———-
No wonder you’re an Out of Work CEO.

#204 Gone with a wind on 09.19.20 at 12:45 am

I love Canada, but this is creazy. You have people that come from religious cultures and conservative backgrounds. New system will be extreme shock to their beliefs and way of life. Its to agresive of a move.

Once help money runs out, i am afraid how this will end up.

#205 Al on 09.19.20 at 12:58 am

First COViD decimates rents from my commercial real estate tenants, now I have to share a neighborhood with the 80k proletariat!? I specifically paid big bucks NOT to have to associate with such except when they are providing me with a service I need or want. Can’t catch a break. I can see it now, cars on the front lawn (or near it), pop up campers in the driveways, kids playing in the street, walking through my immacutely manicured lawn and flower bed to fetch their play things, so much more work for my gardener. All the more reason to spend more time WFH at my Gulf island cottage I suppose.

#206 El presidente on 09.19.20 at 1:28 am

Just watch me….

#207 Fragrant Cookie on 09.19.20 at 1:32 am

All UBI is going to do is create inflation upon inflation. Tax businesses, financial transactions, etc? You are increasing input costs and ultimately translates to higher prices for consumers. Put $2000 in every adult’s hands for as long as they have a pulse? No more savings needed, let’s go spend my entire pay check on instant gratification! Lego’s sales grew 14% in the first half of 2020. Imagine that! Sale of plastic bricks grew double digits during a global pandemic! (Am also a Lego fan so kudos to Lego).

https://www.lego.com/en-us/aboutus/news/2020/september/interim-results/

#208 Don Guillermo on 09.19.20 at 3:19 am

#178 Nonplused on 09.18.20 at 8:49 pm
#161 Flop… on 09.18.20 at 7:59 pm

Top 10 Richest Countries in the World – GDP Per Capita (2020)

I fixed it for you:

1. Qatar: $138.9K (exports oil)
2. Macao: $113.4K (exports everything else)
3. Luxembourg: $112K (banking)
4. Singapore: $105.7K (exports stuff and banking)
5. Ireland: $87K (low taxes and exports)
6. Brunei Darussalam: $85K (oil)
7. Norway: $79.6K (oil)
8. UAE: $70.4K (oil)
9. Kuwait: $67.9K (oil)
10. Switzerland: $67.6K (banking)

There you have it. If you want to be rich you have to sell oil or bank.

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

Seems like a good approach. The other would be to sit around in a chant circle and hummmmm.

#209 Hugh on 09.19.20 at 4:03 am

I miss Smoking Man

#210 Busting Loose on 09.19.20 at 6:29 am

Oh, sure, we’ll all feel better to work if we get to keep 50% of what we earn instead of staying on vacation in Mexico forever, yeah, sure. This is a fantasy so bizarre that only a Trudeau could back it. Giving everyone access to today’s technology sounds a bit like the free Obama Phones the crack dealers used to network. In reality, if you have a job, you have access.

And Socialist Dudes, don’t tax my house unless you’re prepared to refund all the tax already collected on income over the last 60 years to pay for it. Did anyone else laugh their ass of when these fools used a 1968 study signed by “scientists’?

Reading through this made me puke up in my throat, it was like the “Cuties” bullshit, you first want to smash the TV, and then you want to kick some ass .

#211 Pascii on 09.19.20 at 7:39 am

I’d still prefer to live here over the freedom loving nation South of us….

#212 Miami on 09.19.20 at 8:00 am

Socialism => Communism => Misery for all

#213 RIP Smokey on 09.19.20 at 8:04 am

Miss you Smokey, you my friend were always right!

#214 Earlybird on 09.19.20 at 8:19 am

#187Stone Thank you…that was my thought too. I can use averages and get the same spin using Wal mart as well. Most still will be working poor. Looking forward to what amazon will morph into as far as logistics, automation and distribution…gamechanger no doubt. Since everyone is going to quit their jobs, shut down their business or retire….I say go for it ,step aside and let the new, young and ambitious get in the game!

#215 maxx on 09.19.20 at 9:13 am

@ #68

Dumbest blog comment to date…..

#216 Old Ron the Realtor on 09.19.20 at 10:32 am

If I had a loonie for every time someone on this Blog claimed to have recently left Canada, or was about to leave Canada, I would be one very wealthy old man.

We are so blessed to live here, and I thank my ancestors who sailed to Upper Canada in 1832 to clear the land near Peterborough. The nicest words, I will ever hear are said as the CBSA Agent returns my passport : “Welcome home”

#217 IHCTD9 on 09.19.20 at 10:40 am

#54 leebow on 09.18.20 at 3:11 pm

An old Soviet joke: In a capitalist society one human being exploits another. In a communist society it’s other way around.
— -——

I’ve always liked these old Russian political jokes!

A judge walks out of his chambers laughing his head off. A colleague approaches him and asks why he is laughing. “I just heard the funniest joke in the world!” “Well, go ahead, tell me!” says the other judge. “I can’t – I just gave someone ten years for it!”

Three men are sitting in a cell in the Dzerzhinsky Square. The first asks the second why he has been imprisoned, who replies, “Because I criticized Karl Radek.” The first man responds, “But I am here because I spoke out in favor of Radek!” They turn to the third man who has been sitting quietly in the back, and ask him why he is in jail. He answers, “I’m Karl Radek.”

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

#218 Doug t on 09.19.20 at 10:55 am

#216 old man

The native aboriginals want their land back FYI

#219 John on 09.19.20 at 11:26 am

UBI? – I’m coming from your future
Don’t go there Canada.

BTW How about creating a web site for those opposed UBI ?

I lived for over 25 years in Romania under the communist regime that ended with Ceausescu’s execution in 1989. A form of UBI is what communism preaches. If introduced, people will sooner or later renounce it, after food, electricity etc. shortages appear-because nobody cares to do proper work if it doesn’t make any difference for them.
It didn’t work in any eastern country. Some people become “more equal than others” – like the Uline family this week. Corruption, nepotism and self-serve become rampant (does it sound like the WE charity?) because people succeed through political relationships not their work and value. 31 years after the fall of communism, ask people in E Europe their opinion about UBI. There is probably nobody hating it more, because they lived it in a certain form.

#220 Bill on 09.19.20 at 6:39 pm

Finally Got to read…..
“It is, as Justin Trudeau said, a great opportunity to remake society.” Who made this A hole god?!!!! Hes proven that hes a stupid crook there is no doubt there.
Its going to get ugly…I look forward to it blowing up because CAPITALISM is the only proven social system that works lifting people and society up for a better quality life.
Thanks for this Garth….

#221 Abolitionist on 09.19.20 at 7:15 pm

#82 Millennial Realist – is that you, Gerry Butts?

Useful idiots are the first to be expunged once your commie pals get cozy. Good luck!

#222 Bill on 09.19.20 at 9:16 pm

#82 Millennial Realist

Come visit me…you better be tough commie…..
This whole $hit show is spitting on our families efforts to lift this country up….we paid millions in taxes.
Truly discusting to the prior generations that busted ass.
320. The years my family has been here.

#223 Bill on 09.19.20 at 9:49 pm

CTF
There’s been talk of another $100-billion spending splurge.

That’s a massive sum of money to borrow – for reasons that have nothing to do with the pandemic – to gamble away on pie-in-the-sky green experiments.

And it’s just one of the possibilities that could come in the upcoming throne speech from Prime Minister Justin Trudeau’s Liberals.

We’ve been watching the government extra closely since the COVID-19 pandemic struck. We know that it’s been a rough time for most Canadians and they’re still hurting. But we also know that as things begin to reopen, it’s critical that the government spend taxpayer dollars wisely while ensuring our economy gets back on track.

That’s why we’ve taken your feedback and built an open letter you can sign and send to the new finance minister, Chrystia Freeland. The letter lays out important recommendations. We’ve drafted it with options so you can choose the ones you want to send to Freeland.

Please take a minute to review the open letter, select the recommendations you support, and fill out your information so that we can send her your letter. You can read and sign the open letter here: https://www.taxpayer.com/en/open-letter-to-finance-minister-chrystia-freeland
Our new finance minister needs to hear from as many Canadian taxpayers as possible. So please share the link with your friends and family. The CTF will also be purchasing ads to share the open letter on social media channels.

#224 Bonobo on 09.20.20 at 6:19 am

Yeah, I’m gonna finish paying my house off and then go on pogey for the rest of my life.

#225 lostCanuck on 09.20.20 at 11:18 am

Many boomers may dislike UBI or CERB but this seems to be part of future trends we can not control! Over the years our middle class jobs have been offshored and our cost of living has gone up making the people just poorer each year! This trend can only increase as it should with atomization and full employment is becoming less realistic. If this lockdown has taugh us anything is that we don’t need everyone to be working for society to go forward.

#226 Big Mie on 09.20.20 at 12:55 pm

The entire article is about how Canada is transforming into a “utopia”, however you just can’t help yourself by throwing in a “MAGA freaks” comment.
Keep your country comments to yourself or write about one country or another, stop blending the two together, other than both being first world countries, they are nothing alike!!!

#227 Bill on 09.20.20 at 2:35 pm

#225 lostCanuck on 09.20.20 at 11:18 am
Many boomers may dislike UBI or CERB but this seems to be part of future trends we can not control!

Its because politicians know the current system is going to collapse. Pension plans and many other promises are not sustainable. look to the south its WAY worse. State pension funds are going down.
Essentially a ponzi scheme is coming to and end. They are desperate to be reelected and keep their power. This is plan B. As Garth said “Other regimes and political systems have tried this in the past. It failed.”
This is going to be messy for years to come I think. I think the wealthy wont stand having their hard work stolen from them.
This is a blanket statement but the only people to support this ignorant plan is the lazy that want a free lunch….and well of course the idiots in power cause it gets votes.