What they know

We remember what T2 did to TFSA contributions when he took over from Stephen Harper. In the autumn of 2015, back where we all naïve, there was no virus and a Toronto property cost 48% less than during Covid, Justin Trudeau said this of the limit:

“It is irresponsible. It’s only the wealthiest Canadians who have $10,000 laying around at the end of the year that they can put into that.”

It was pure politics, of course. As a direct result of the Libs chopping contributions by about half in 2016, Canadians saved less. There’s also ample evidence they started shovelling more into real estate. In fact, property escalation has been epic.

But here’s an interesting fact you might not know. While Harper-era TFSA contribution limits have been gutted because “only the wealthiest Canadians who have $10,000 laying around,” RRSP contributions have been goosed – by almost 12%. And, ironically, this (not the TFSA) is the preferred tax-slashing vehicle of the wealthy. The richer you are, in fact, the more the RRSP gives.

For 2020 the max allowed is $27,830, or four-and-a-half times the tax-free account limit. Not only that, but for every dollar put into an RRSP, the feds will reduce your income tax bill – a benefit TFSA investors don’t get. So if a filthy-rich, capitalist swine, oligarch blog owner in the 54% tax bracket did the max, he’d get a tax break of just over $15,000. Moreover, the twenty-seven grand can be invested in growth assets for decades, earning tax-free capital gains. At age 71 it can be converted into a RRIF, and continue to make taxless annual advances in value, with only a tiny amount (5%) required to be taken as taxable income.

Thus, the more you make, the better the deal an RRSP contribution is. And unless there’s a fat govy defined-benefit pension involved, in retirement most wealthy people can juggle assets and income to minimize the tax bite on registered investments. It’s even possible to chop or eliminate the tax through a melt-down strategy.

All this is why we have the following situation:

While the total number sticking money into the retirement plans is fading, the amount rich folks are stuffing in there is bloating. The average age is rising (now 46). The number of contributors earning over $80,000 has more than doubled (from about 30% to 70%). The amount of money placed in these plans yearly is up by double digits (to almost $45 billion).

So, a shift. Fewer people using RRSPs. But more well-off contributors. Bigger tax savings. A larger wealth divide. It’s ironic the most democratic tax shelter in this country – the TFSA, where everyone gets the same limit just for living here – was politicized and attacked by the populist, nail-the-rich prime minister while the one favouring overlord dudes like me was increased.

This isn’t fair, of course. But politics is about optics, not equality. And there are always consequences.

RRSPs are tax-shifting vehicles. Not just for retirement. If you stuff a plan during employed years it can be used to support you during layoffs, maternity leaves, sabbaticals or the next pandemic (shudder). Money can be taken out, tax-free, to go back to school or used as a property down payment. If you have your RRSP managed, fees will be subsidized by taxpayers (since those withdrawals are not counted as income). If you use existing assets to make an RRSP contribution, a tax break will come for selling yourself things already owned. If a loan is taken to make a deposit, the tax refund can be used to pay it down. And a spousal plan lets a high-income, high-tax spouse move big gobs of money to a less-taxed partner and still get 100% of the tax deduction. The money can later be removed for a big benefit.

Well, we all know what’s happened since the Trudeau attack on the notion of tax shelters. Financial illiteracy is rampant, and the feds haven’t helped one bit. Only one in five of us now makes an RRSP contribution. Close to 80% of all TFSA money is in cash or interest-bearing, brain-dead assets. Most people use them as glorified savings accounts. And, as we all know, Canadians would rather roll the dice, have a one-asset strategy, snorfle dripping dollops of debt and go all-in on a house.

By the way, 70% of RRSP contributors are now men. Yikes. What does this tell us?

The deadline is just sixteen business days away. Miss it at your peril.

About the picture: “Here’s a pic of Sherman (Silver Lab),” says Todd. “We would all look like this if we were walked 2 miles in the morning. Then 2 miles at night and ate only from a crockpot ! He’s a 120 lbs of pure lovin! Took this pic by Boundary Bay.”

184 comments ↓

#1 Niagara Region on 02.07.21 at 12:44 pm

Garth isn’t the only one to conceptualize aspirational house purchasing by millennials as “house horniness.” Check out SNL’s sketch from last night re: Zillow.
https://www.facebook.com/snl/videos/457958398691223/

#2 TurnerNation on 02.07.21 at 12:46 pm

We really needed Smoking Man to guide us through these times. He knew how to handle the ‘commies’.

……

Some wags say ‘all wars are bankers wars’. Well in this current one, WW3 I’d say they own Kanada outright.
The Queen’s Bankers will kick off Crown Land – we all are the renters.

“February 2, 2021
Canada’s combined federal-provincial debt will reach $2 trillion in 2020/21; Ontario’s combined debt now exceeds 100% of the province’s economy
TORONTO—Combined federal and provincial debt in Canada has doubled from $1.0 trillion in 2007/08 to a projected $2.0 trillion this year, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.”

….

For the OK Doomers:

https://www.ucl.ac.uk/news/2020/nov/sars-cov-2-mutations-do-not-appear-increase-transmissibility
SARS-CoV-2 mutations do not appear to increase transmissibility
25 November 2020
None of the mutations currently documented in the SARS-CoV-2 virus appear to increase its transmissibility in humans, according to a study led by UCL researchers

…..

…………
This global New System (Since March 2020) really is targeting the children. Never will they know normalcy.
Pretty sure prisons are freer. And free. We lost this WW3 that cold week in March ’20. Not even enemy occupation would be this bad.

University of Massachusetts
https://www.instagram.com/p/CK9J9ILBSJX/

Restrictions:
No student gatherings of any size. A gathering is any group of 2 or more students in close proximity for any length of time.
Students may not congregate in hallways, lobbies, or lounges.
Students may not socialize in groups on or off campus.
Campus building access is restricted
Campus Recreation Center is limited to virtual activities
Travel is restricted.

#3 crowdedelevatorfartz on 02.07.21 at 12:50 pm

I max out my RRSP’s every year.
Max out my TFSA’s every year.
Gonna have a nice retirement fund in a few more years.
Sit back an call Skip the Dishes.
Bury the Planet in styrofoam…

Maybe I’ll get a job as a Wal Mart greeter to offset the Liberal deficit taxes coming down the pike…..

#4 Yukon Elvis on 02.07.21 at 12:54 pm

https://nationalpost.com/opinion/rex-murphy-this-is-the-worst-canadian-government-ever-can-there-be-any-question
…………………

Rex Murphy nails it again. Read it and weep.

#5 KNOW IT ALL on 02.07.21 at 1:04 pm

My employer matches me up to 8% and allows me to save up to 30% of every pay in a TFSA, RRSP, or regular savings account.

Pretty good deal.

#6 The scary BRAZILIAN VARIANT on 02.07.21 at 1:10 pm

DELETED

#7 Grumpyauldscott on 02.07.21 at 1:13 pm

I love my TFSA, thanks Garth!
My only complaint is that it came too late for me to take maximum advantage of. Being able to back in my contributions from, say, age eighteen would have been sweet.
The problem with the TFSA, from the government’s point of view, is that it protects the proceeds of the TFSA… forever. A young person, retiring on the proceeds of her TFSA after a working lifetime of carefully managed contributions, can live off the TFSA income/payout and still collect maximum benefits from CCP/OAP and even the GIS. THAT scares the government as it would be unique in that every other form of pension is taxable and can disqualify the recipient from other benefits.
How you smoked it by I will never know.

#8 the Jaguar on 02.07.21 at 1:20 pm

Sherman is a magnificent creature. He’s lucky to have Todd as his companion and provider, and of course the reverse is equally true. A stunning photo as well.

The statistic about 70% of contributors being men is interesting. Spousal plans would be the logical explanation, but it reinforces old behavioural norms between the sexes, however far society thinks it has ‘evolved’. It would be interesting to survey 1000 or so top women executives and see how many were contributing to spousal plans. Not many is my guess. Must have something to do with that masculinity thing Fishman was talking about….

#9 Brian Ripley on 02.07.21 at 1:35 pm

“…dripping dollops of debt…” Garth

My chart of Household Debt, GDP, Foreign Direct Investment and Net Trade is up with latest data:
http://www.chpc.biz/household-debt.html

Here is the 10 Year Change​:

Household Mortgage Debt: UP 66%
Total Household Debt: UP 56%
Negative Net Trade: UP 633%
Negative FDI: UP 1,480%
Positive GDP: UP 16%

In the last 12 years, 83% of the monthly Net Trade data have been negative.

Meanwhile the average price of detached housing in Vancouver and Toronto are up 12-13% per year over the last decade.

#10 other guy in Vancouver on 02.07.21 at 1:37 pm

The FX site xe.com shows an odd periodic pattern in USD/CAD and also in other combinations of currencies in the last 24 hours. What’s driving this?

#11 Winterpeg on 02.07.21 at 1:40 pm

I am in the 30% of women that did contribute to RRSP’s. Glad I maxed out for years. I only work 3/4 time so the max wasn’t huge, but it pays off over time.
I won’t have full pension because of not working full time, but my savings will hopefully see me through.
Not completely maxed out on the TFSA; but getting there.

Amazing how many of my coworkers have not saved, either in RSP’s or TFSA’s, believing they can live solely off their pensions and are now shocked to find how much less they will have to live on, even if it is a defined benefits pension. The same ones who have a lot of debt.

-40 today in the Peg with windchill. We had a balmy late start, but now back to seasonal norms. ;)

#12 Grateful in Victoria on 02.07.21 at 1:48 pm

“70 per cent of RRSP contributors are men. What does that tell us.”
It tells us that men make 30 per cent more than women for the exact same work. Hence, they have more to invest.
Perhaps you can do a blog about that instead of posting dumb remarks at the end of what might have been an intelligent post.

When does a salient fact become a dumb remark? When it triggers you? Perhaps women (in general) like real assets rather than financial ones. – Garth

#13 A Dollar is a Dollar is a Dollar on 02.07.21 at 1:53 pm

This seems to gloss over the core issue of wealth inequality and privileged non-taxation.

RRSP contributions are low, correct. Barely 22% contribute to them each year. This peaked in the late 1990s, and has been lower ever since. A symptom of declining real income and the wealth divide growing since the 1980s, Reagan, Mulroney, and all the conservative lies we’ve been buried in since.

https://www.theglobeandmail.com/globe-investor/personal-finance/rrsp-contributions-to-keep-dropping/article4301568/

But the reality is that for decades people have understood that an RRSP contribution should be the first step in financial planning. A TFSA sounds nice, but only makes sense after you’ve already maxxed out the RRSP. 99% of Canadians and financial advisors would agree. Disagree if you will.

The truth is that average people have seen their taxed incomes stagnate far below the rate of inflation and other increases in living costs. For decades now.

So barely 1/5 can even afford now to consider putting money in an RRSP.

And when money is so tight, you are indeed likely to be more “financially illiterate”, as “investing” just does not seem to be something that works for your class. So if you do open a TFSA, it is no surprise that funds put in there are treated more like a small emergency fund than a future investment, because that is the reality for the vast majority of Canadians.

Meanwhile, stock options, capital gains, property gains, inheritances etc…continue at vastly lower taxable rates, benefiting the wealthy elite and furthering the wealth divide.

We just need to tax income and assets from all sources in a way that is transparent and equal. Everyone gets basic personal exemptions and deductions, but beyond that, all dollars are treated equally. Add in a small transaction tax on all financial dealings to reduce personal rates and address ambiguous financial dealings that permeate our economy.

Ordinary people can’t afford to fully contribute to and properly manage an RRSP. Or a TFSA. They just don’t have the resources, because our society is reverting back to the class system of the 1800s.

The answer?

A dollar is a dollar is a dollar.

#14 willworkforpickles on 02.07.21 at 1:58 pm

About the photo: He’s a rotti mix…beautiful.

#15 Happy prairie guy on 02.07.21 at 2:06 pm

Having followed this pathetic blog for years I went what would have likely not been Garth’s advice and put in some more money in RRSP last year at age 70 and plan to start withdrawing only the minimum at the end of this year when I must convert all to RRIF’s. Meanwhile drawing some from spousal RRSP for low income wife (only CPP and OAS) other than her RRSP’s. Gov’t allowing pension split is easing our tax burden as well. Still have no TFSA but might if I have excess income once I must start taking from RRIF’s.

Thanks again Garth for all your financial advice, it’s unfortunate that more people who really need such advice don’t follow your blog.

#16 Damifino on 02.07.21 at 2:25 pm

By far, the worst PM ever. Meanwhile, O’Toole waits in the wings. Not a recipe for optimism.

#17 Dolce Vita on 02.07.21 at 2:30 pm

#2 TurnerNation

Your UCL source is so confident in their research that they:

“Covid: UCL tells students to not return to campus”

https://www.bbc.com/news/uk-england-london-55527821

For example, late last Nov cases coming down very nicely in the UK and then “SOMETHING’ happened. Can you spot when that “something” happened (Hint: Dec. 4)?

https://ourworldindata.org/coronavirus-data-explorer?zoomToSelection=true&country=~GBR&region=World&casesMetric=true&interval=smoothed&hideControls=true&smoothing=7&pickerMetric=location&pickerSort=asc

I say “something” since according to UCL it’s was certainly not any variant that could of caused that “something”.

The UK is in desperate straits with Covid variants according to Boris a couple of days ago (address to his nation) and looking for some daylight, any daylight, so caution with what what comes out of that country towards that end. For example, up until today it was:

“All HAIL the MIRACLE curative powers of homespun (+Sweden) Oxford-AstraZeneca vax”

Today, reality setting in:

“Covid: Oxford jab offers less S Africa variant protection”

[and for other variants too, other than those found on the UCL campus where they live in a mystical, magical faerie land, well their researchers must]

https://www.bbc.com/news/uk-55967767

——————————–

Yesterday Min. Anand said Canada talking to VAX HOG America (almost sounded like “pressure”) about springing some of their doses for Beavers. Of course the answer was no, meant for Yankee Doodles only. They will keep trying she said in as many words.

Progress. It’s a start. I’d take out full page ads in the major US MSM with this opening:

Dear VAX HOG & World VAX Sharing Humanitarian Award Winner America,

…etc. (mostly gobs of vitriol and shame)

And ya, today I started my 1 man Twitter campaign letting the Leaders of the 4 VAX HOG Muchachos (USA, EU, UK & India) know what I think of their magnanimous VAX sharing ways.

#18 crowdedelevatorfartz on 02.07.21 at 2:38 pm

@#11 Hateful in Victoria

“It tells us that men make 30 per cent more than women for the exact same work.”

++++

You should go work for the gubmint .
Equal work. Equal pay and most of the senior mgmnt is now female.

I’ve noticed that most investment ads running on tv in this years RRSP season are women discussing their retirement and how to invest…
Perhaps its time to stop complaining (blaming?) and do something about it yourself?

#19 Ed on 02.07.21 at 2:44 pm

““70 per cent of RRSP contributors are men. What does that tell us.”
It tells us that men make 30 per cent more than women for the exact same work. Hence, they have more to invest.””

In my business if this statement was true I would have had only women working for me. I guess you missed the memo women’s lib is over…today its “snowbird shaming”

#20 SoggyShorts on 02.07.21 at 2:51 pm

#12 Grateful in Victoria on 02.07.21 at 1:48 pm
“70 per cent of RRSP contributors are men. What does that tell us.”
It tells us that men make 30 per cent more than women for the exact same work.

*****************
But that’s been disproven. Often and thoroughly.
Simply put, it’s not for “the exact same work”.

Think about it, if it was, why wouldn’t companies simply hire women and save 30% on labor costs?
They’d crush the competition.

There is a gap, but it’s not nearly 30% when talking about the exact same work, and it’s mostly due to women not being as aggressive when negotiating salary/raises.

As for RRSP contributions, I believe there was a relatively recent study showing that women prefer paying down debt and homeownership on a larger scale than men which is a far more likely explanation.

#21 Bert on 02.07.21 at 2:53 pm

It will be a long time before the Canadian population is vaccinated.

https://twitter.com/fcfyield/status/1357326872275783681?s=21

#22 A tax is a tax is a tax on 02.07.21 at 2:54 pm

#13 A Dollar is a Dollar is a Dollar on 02.07.21 at 1:53 pm
This seems to gloss over the core issue of wealth inequality and privileged non-taxation

….
time for a flat tax rate … because I’m sick and tired of paying your share and carrying you with “progressive” tax rates… fair is fair

#23 Stone on 02.07.21 at 2:54 pm

By the way, 70% of RRSP contributors are now men. Yikes. What does this tell us?

———

I suspect this blog’s readership might reflect this percentage fairly closely as well.

I don’t understand the fixation on real assets that don’t pay out any cashflow versus the lack of interest in highly liquid financial assets that do pay out regular and steady cashflow.

#24 Silent Observer on 02.07.21 at 2:55 pm

#12 Grateful in Victoria
“70 per cent of RRSP contributors are men. What does that tell us.”
“It tells us that men make 30 per cent more than women for the exact same work.”

I want to be very careful in my comment here, but unsubstantiated data like this statement presents does little to address the true inequities that indeed do still exist. Yes, while the inequities between men and women in the workplace are improving every year, there are instances and cases where more needs to be done. However, In my 35-year professional career I have never seen a man make 30% more than a woman for the exact same position. That doesn’t eliminate the existence of edge cases, but edge cases do not make up 100% of the statistic. And for posterity, I believe in many cases women make better leaders and perhaps deserve more than their counterparts. So please stop polluting the community with unsupported statistics, it doesn’t help solving the real issues for women. Lets use real data and get women the equity they truly deserve.

#25 tbone on 02.07.21 at 2:56 pm

Beware of the tax bomb you create if you have a large rrsp. I commuted a pension and it grew a lot.
I intend to collapse a significant portion of it until i am 70 and delay my OAS until then or i would lose it .
I dont have employment income so with my dividend income and a large withdrawl i still can manage a small tax bite .

I will invest the rrsp withdrawl in my investment account to continue accumulating wealth and later on add my offspring onto my accounts and then they can worry about the capital gains when i expire.

I think this strategy will work out better than having a 54 % tax hit on a large sum of money in a rrsp when i croak.

Bad thinking. OAS is grocery money so why would you collapse an account generating tax-free gains and from which you need take only 5% a year, in order to avoid a small claw-back? Get an advisor. – Garth

#26 TurnerNation on 02.07.21 at 3:00 pm

crossbordershopper is one of the most underrated posters here. Always on how to take risks, keep your loot; go easy on the bozzing. Our streetsmart new mentor.
The opposite to Kanadian mentality of debt/spend it all. Just as our government is.

…….

A blog dog yesterday posted this. Worth a 2nd look. No wonder I always see people hanging outside the Strath. Partying. Cops leave them alone. Can’t beat ’em, join ’em?
Knowing our global elites play the Long Game. Look at how FAST all those empty hotels are repurposed into Kamps.
Both into CV prison camps for travellers returning, and for the new CV Social Class, the homeless.

Once again like magic in March 2020 EVERY downtown park in Toronto became filled by brand new tents. Still there today, the city provides Portapotty and garbage service. Who placed them there so fast during the New System rollout that Week in March ’20??

This is the plan for all former First World Countries. Cities consumed by homelesness and petty crime.
I’ve posted here before that ALL new spending at the level of cities will be toward their UN-based Poverty Industry.
Tons of money to be made, for favoured friends of the Party.

Welcome to your new UN Smart City:

https://torontosun.com/news/local-news/levy-upscale-novotel-to-become-latest-covid-homeless-hotel
“The hotel — owned by the Silver Hotel Group — joins the Strathcona on York St., the Hotel Victoria on Yonge St. and 98 The Esplanade as COVID homeless shelters all within a 10-minute walk of each other.

This is the fourth Silver Hotel Group hotel to lease its rooms to clients since COVID-19 commenced. In addition to the Novatel, the Strathcona and the Hotel Victoria, Silver Hotel Group also owns the Bond Hotel, which was opened to the homeless in late August and recently became the first to add to an Urgent Public Needs (overdose prevention) Site within the hotel proper.”

………
The march toward UBI? Never forget who did this to us. Globalists. Not only here but in every Former First World Country.
You no longer have the right to earn your chosen living.
Once the tenants and landlords are bankrupted who will get their land, condos? Yep the Crown’s Bankers.
Way back when they used to send ’round enforcers with cloth sacks to towns for your guineas and shillings. Today it’s a nasty letter by mail. Everything old is new again.

https://www.blogto.com/city/2021/02/new-map-tracks-mass-evictions-toronto/

……
Control over our breeding. How long until your health or travel insurance or even rights are based upon your genetic profile and risk? The globalists own our DNA. We are the product. Time for profit. All those CV tests…profitable and who holds our DNA afterwards? Bankers wars.

https://mediacenter.23andme.com/press-releases/23andme-merges-with-vgac/

23andMe is a leading consumer genetics and research company that offers a personalized health and wellness experience and has built a premier genetic database to unlock insights leading to the rapid discovery of promising new targets for drug development
23andMe CEO and Co-Founder Anne Wojcicki and Virgin Group’s Sir Richard Branson are each investing $25 million into the $250 million PIPE and are joined by leading institutional investors including Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital, and Foresite Capital

#27 Bert on 02.07.21 at 3:11 pm

Canadians need to realize that we will be dealing with new rules and changes due to COVID-19 for years not months. This is likely an endemic virus that follows the typical flu season. It will be back annually.

#28 Bert on 02.07.21 at 3:24 pm

Here’s the full Bloomberg article:

https://www.bloomberg.com/news/articles/2021-02-04/when-will-covid-pandemic-end-near-me-vaccine-coverage-calculator

#29 There's no choice on 02.07.21 at 3:26 pm

If you really want to get your taxes back you have to max your RSP ..simple as that. If you make good $ its a no brainer and a great way to get back the money stolen from you.

I wish Harper was the P.M again … he was far more responsible.

#30 A Dollar is a Dollar is a Dollar on 02.07.21 at 3:29 pm

#22 A tax is a tax is a tax

time for a flat tax rate … because I’m sick and tired of paying your share and carrying you with “progressive” tax rates… fair is fair

_________________________

Your comment is fraudulent and stupid, utterly self-serving, just like so much of our economy is to the wealthy elites.

We can still have personal deductions and progressive tax rates. What we must stop is privileging some gains as exempt from taxes partially or completely.

e.g. Stock market gains should be taxed just like other earned income.

Simple enough for you? Or do you plan to try to obfuscate this enough to cover up special benefits for the wealthy?

Maybe you failed grade 3 math?

#31 pPrasseur on 02.07.21 at 3:33 pm

“By the way, 70% of RRSP contributors are now men. Yikes. What does this tell us?”

It tells us women are even more financially illiterate than their boyfriends!

Not a surprise!

#32 the Jaguar on 02.07.21 at 3:34 pm

@#12 Grateful in Victoria on 02.07.21 at 1:48 pm
‘Perhaps you can do a blog about that instead of posting dumb remarks at the end of what might have been an intelligent post.’

This is shockingly rude. And you’re about to pay for it. Only 27th posts thus far, but many a backlash to your disrespectful comment. The only dumb thing here is you.

#33 Sara on 02.07.21 at 3:35 pm

“The number of contributors earning over $80,000 has more than doubled (from about 30% to 70%). ”

“By the way, 70% of RRSP contributors are now men. Yikes. What does this tell us?”

Perhaps it is telling us that there are more men in the over $80,000 earnings category than there are women.

#34 tbone on 02.07.21 at 3:40 pm

# 25 tbone

Garth ,

Not too concerned about the OAS clawback as much as a 54 % tax hit on a 7 figure rrsp . If i take out 5 % a year after i am 71 it leaves quite a bit to get taxed after i croak.

#35 Brian on 02.07.21 at 3:41 pm

Funny how all other conspiracy claims get shut down abruptly but the gender pay gap conspiracy is allowed to run wild.. Might be time to start talking about the gender occupational death rate at 92.5% male in order to shut the feminazi’s down.

#36 SoggyShorts on 02.07.21 at 3:41 pm

#23 Stone on 02.07.21 at 2:54 pm
By the way, 70% of RRSP contributors are now men. Yikes. What does this tell us?

———

I suspect this blog’s readership might reflect this percentage fairly closely as well.

I don’t understand the fixation on real assets that don’t pay out any cashflow versus the lack of interest in highly liquid financial assets that do pay out regular and steady cash flow.
*************************
Comfort, Stability, and not thinking about opportunity cost is the key.

I personally can emotionally distance myself from it, but the thought of a paid-off house is appealing even to me if I don’t think about the numbers too closely.

Shelter is a basic need we all share and having that taken care of forever is a nice thought.
I can see how some would take greater comfort in not having to pay rent compared to having dividends that(more than) cover your rent.

#37 Flop... on 02.07.21 at 3:41 pm

#88 S.Bby on 02.06.21 at 10:25 pm

Hey Garth, could you post that video that Flop made? It would be interesting to see that.

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

Hey Sobby, I have no objections to Garth putting the video up of my visit to his great grandfathers grave.

The reason I didn’t put the video and the photos up directly on the blog because I felt that it was a small gift to Garth and even though on public land he should be able to decide what he wants to do with them.

Thanks to the other people that commented on my visit and appreciated the small effort undertaken by myself.

I played the tape back last night and after first thinking I sounded like Kermit The Frog, I know realize that I was doing a subconscious impersonation of Kansas City Chiefs Quarterback Patrick Mahomes, whose teammates also call him Kermit because his voice is heading that way.

This years Superbowl is a bit weird, in the fact that a lot of people have gotten really sick of the team I support, The Chiefs, in a really short amount of time-2 years.

On the other side you have a guy, Tom Brady, who a lot of people got sick of a long time ago.

Brady and I are roughly the same age, I struggle to walk and haven’t kicked a football in 20 years, he’s just playing in yet another Super Bowl.

Hopefully Chiefs win, I’ll go with a 30 to 17 score line.

I won’t get too worked up, either way, there is no point when you physically don’t participate in proceedings.

Only two things left to say on this day.

1) Hello to my friend on here who hasn’t posted in a while, Washed Up Lawyer, I miss your contributions pal, but hope you’re doing well.

2) Go Chhhhhiiiieeeeffffssss…

M46BC

#38 Sara on 02.07.21 at 3:44 pm

#7 Grumpyauldscott on 02.07.21 at 1:13 pm
I love my TFSA, thanks Garth!
My only complaint is that it came too late for me to take maximum advantage of. Being able to back in my contributions from, say, age eighteen would have been sweet.
The problem with the TFSA, from the government’s point of view, is that it protects the proceeds of the TFSA… forever. A young person, retiring on the proceeds of her TFSA after a working lifetime of carefully managed contributions, can live off the TFSA income/payout and still collect maximum benefits from CCP/OAP and even the GIS. THAT scares the government as it would be unique in that every other form of pension is taxable and can disqualify the recipient from other benefits.
How you smoked it by I will never know.

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

Shhh! Don’t tell the youngins they got burned more than the oldies did when T2 lowered the yearly allowable maximum TFSA contribution. The real reason it was lowered was that TFSAs only benefit rich people, you know, like the boomers – wink, wink.

#39 Penny Henny on 02.07.21 at 3:45 pm

#107 crowdedelevatorfartz on 02.07.21 at 10:57 am
@#101 hipster604

“You guys keep investing in utilities and food while you work at Walmart getting our groceries for pick-up.”

+++++
BWAhahahaha.
Good one.

The WalMart where I bought some work pants yesterday was staffed by young 20-30 something kids.
I was the oldest person in the store by far.
There was a 20 something kid opening the door to the parking lot but he wanted money for drugs….
I declined.
I guess the “door greeter Boomers” had the weekend off.

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

You’re damn right I had the weekend off. Seniority man, I pick my shifts.
Who wants to be greeter on a weekend? That’s a very busy time to be at a Walmart. It’s not like they pay you per ‘greet’, if they paid per ‘greet’ sure I would do weekends. Pay me a buck a ‘greet’ and I could probably ring off 60-70 quality greets per hour.
But that’s not how it works, they pay you by the hour so the less greeting I do the easier it is for me. I find Monday and Tuesday mornings to be the easiest shift. Some days I might only have to greet 80-100 people in a whole shift.
Breaking it down. 7 hour shift, $15 bucks per hour. That’s $105 bucks, so on a good day I make over a buck a greet.
Work weekends, yeah right. Like I said pay me by the greet and then I’ll do it. Otherwise let some young un work the weekend.
Rant over.

#40 S.Bby on 02.07.21 at 3:54 pm

I heard somewhere (can’t recall where) that if a person takes out $4,000 or less on each RRSP withdrawal that there is less or no tax withheld on those smaller amounts.

Maybe someone could confirm that?

If you withdraw up to $5,000, the withholding tax rate is 10%. If you withdraw between $5,001 and $15,000, the withholding tax rate is 20%. If you withdraw more than $15,000, the withholding tax rate rises to 30%. More tax in Quebec. – Garth

#41 SoggyShorts on 02.07.21 at 4:04 pm

#30 A Dollar is a Dollar is a Dollar on 02.07.21 at 3:29 pm
#22 A tax is a tax is a tax

We can still have personal deductions and progressive tax rates. What we must stop is privileging some gains as exempt from taxes partially or completely.

**********************
So some dollars should be treated more equally than others?

Either $=$=$ or not, make up your mind.

My capital gains tax should go up by 100%, but your $10,000 per year should still be taxed at 0%, right?
That’s “fair”?

#42 Brian Ripley on 02.07.21 at 4:05 pm

“time for a flat tax rate” #22 A tax is a tax is a tax on 02.07.21 at 2:54 pm

From my 2012 post http://www.chpc.biz/history-readings/apt The Automated Payment Transaction Tax

QUOTE: “By capitalizing on financial data processing technology, it is possible to create a tax code for the 21st century that is astonishingly easy for all citizens to understand and administer because it eliminates the need to file tax or information returns. Think about the desirability and feasibility of replacing the present system of personal and corporate income, sales, excise, capital gains, import and export duties, gift and estate taxes with a single comprehensive revenue neutral Automated Payment Transaction (APT) tax. In its simplest form, the APT tax consists of a flat tax levied on all transactions. The tax is automatically assessed and collected when transactions are settled through the electronic technology of the banking/ payments system.”

The author of this tax model is Edgar L. Feige Professor of Economic Emeritus University of Wisconsin-Madison and here is his October 2000 published 41 page PDF: http://www.chpc.biz/uploads/9/7/9/5/9795010/taxation_for_the_21st_century.pdf

QUOTE: We shall assume that total transaction volumes decline by 50 percent as a result of the replacement of the existing tax structure with a
revenue neutral APT tax. This will require a uniform flat rate on all transactions of 0 .6 percent divided equally between the buyer and seller of each transaction. Each party to a transaction would
then pay 0.3 percent of the transaction value to the government.

Hey Gen Zs… set this as your generational goal.

#43 Schoolie on 02.07.21 at 4:05 pm

Garth, you mentioned unless there’s a govy DB plan involved. What are the downsides to having a plump RRSP when you also have a fat DB plan to support you in retirement?

Distributions from a RRIF could eventually shove you into a higher tax bracket. – Garth

#44 Capt. Serious on 02.07.21 at 4:08 pm

Let us not forget about company matching your RRSP contributions. If your company offers matching, make sure you get that money. Mine matches contributions up to 10% of gross salary or about $10k, whichever is lower.

#45 crowdedelevatorfartz on 02.07.21 at 4:09 pm

@#33 Sara
“Perhaps it is telling us that there are more men in the over $80,000 earnings category than there are women.”

+++++

Or their Ex’s have already taken the house so the only thing they can put money in now is RRSP’s after the spousal support , child support payments…..its all they can afford.

#46 Linda on 02.07.21 at 4:11 pm

I made my maximum RRSP contributions while I was working. However, since my employment came with a mandatory pension plan – no opting out allowed – my RRSP contribution room was adjusted by the amount of pension contributions made annually. As a result of that pension adjustment my annual RRSP maximum contribution was generally under $3K per annum. Some years less than $2K. So yes, I have the much envied DB workplace pension plan AND an RRSP to boot. However, due to the small contributions I was allowed to make my RRSP income come age 71 won’t propel me to a higher tax bracket. In point of fact, the combined total of my workplace pension plan, CPP, OAS & my RRIF won’t result in an OAS clawback because the combined total will still be well under the clawback threshold. Which is where the TFSA truly shines. One can have $ in a TFSA & not have it count towards income. Even better, you can continue to contribute to a TFSA & get the same amount of contribution room as everyone else even when you are a pensioner. Given the way work place pension plans have gone – even government ones aren’t guaranteed, with not a few being changed over to DC from DB – the TFSA is truly manna from heaven. Get it while you can!

#47 Phylis on 02.07.21 at 4:12 pm

#40 S.Bby on 02.07.21 at 3:54 pm You can also break it up over a couple of days, but i wouldn’t want to push that toomuch.

#48 S.Bby on 02.07.21 at 4:22 pm

# 40

Thanks for the response Garth !

That’s good info to be aware of.

#49 jess on 02.07.21 at 4:39 pm

South Africa halts AstraZeneca vaccinations over variant data
South Africa will suspend use of AstraZeneca’s COVID-19 shot in its vaccination programme after data showed it gave minimal protection against mild to moderate infection caused by the country’s dominant coronavirus variant.
======

https://www.accountable.us/news/new-report-massive-vaccine-development-profiteering-at-five-top-drug-companies-over-145-million-pocketed-by-executives-since-start-of-operation-warp-speed/

Health Minister Zweli Mkhize said on Sunday the government would await advice from scientists on how best to proceed, after disappointing results in a trial conducted by the University of the Witwatersrand.

#50 Barb on 02.07.21 at 4:39 pm

Will there be details on further decreasing tax through a “melt-down strategy”?

#51 millmech on 02.07.21 at 4:39 pm

#13
To be totally fair, a dollar is a dollar, home equity gains should be taxed every year, why should my neighbor get a 100k untaxed increase in his income every year. All those dollars of appreciation that he has tax free is totally a case of privilege that has to be eradicated in the interest of fairness.
Get on it!

#52 Went for a walk ... on 02.07.21 at 4:59 pm

today with the missus and ended up checking out a new townhouse development that is now selling just off the beach in a great location here in 604. Cracker of a day … see for miles and miles … snowdrops open … tulips poking through. Was a line up just to talk to a realtor. Glad I’m not in the market now … sorry to hear about the Peg.

#53 Bob in Hamilton on 02.07.21 at 5:06 pm

” Financial illiteracy is rampant, and the feds haven’t helped one bit. Only one in five of us now makes an RRSP contribution. Close to 80% of all TFSA money is in cash or interest-bearing, brain-dead assets. ”

I’m not surprised that this is the situation now in Canada. We used to be a smarter society and a smarter country. Over time we lost our way as a people. It just gets worse here on in….buckle up for the ride everyone.

#54 Warren-the-lagging_indicator on 02.07.21 at 5:08 pm

What is this shift now from equality to equity? Like global warming to climate change? Anyways, Spinks did it right “I may be the best young heavyweight, but he was the greatest. And he still is the greatest”

#55 Mikethetv on 02.07.21 at 5:08 pm

As a young pooch, are there any international examples in world history which can help tell an analogous story of this financial drama were facing here in Canada?

#56 Sara on 02.07.21 at 5:16 pm

#45 crowdedelevatorfartz on 02.07.21 at 4:09 pm
@#33 Sara
“Perhaps it is telling us that there are more men in the over $80,000 earnings category than there are women.”

+++++

Or their Ex’s have already taken the house so the only thing they can put money in now is RRSP’s after the spousal support , child support payments…..its all they can afford.

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

Ah, yes, I figured you for a divorcee. Can’t imagine why the ex would have left ….

#57 Tron Light on 02.07.21 at 5:33 pm

#12 Grateful in Victoria on 02.07.21 at 1:48 pm

This comment epitomizes exactly what is wrong with people today. Unbelievable.

#58 Shirl Clarts on 02.07.21 at 5:36 pm

Only one in five of us now makes an RRSP contribution.

Does this include those paying into employer sponsored DC plans?

No. But most are dubious. – Garth

#59 Stone on 02.07.21 at 5:44 pm

#36 SoggyShorts on 02.07.21 at 3:41 pm
#23 Stone on 02.07.21 at 2:54 pm
By the way, 70% of RRSP contributors are now men. Yikes. What does this tell us?

———

I suspect this blog’s readership might reflect this percentage fairly closely as well.

I don’t understand the fixation on real assets that don’t pay out any cashflow versus the lack of interest in highly liquid financial assets that do pay out regular and steady cash flow.
*************************
Comfort, Stability, and not thinking about opportunity cost is the key.

I personally can emotionally distance myself from it, but the thought of a paid-off house is appealing even to me if I don’t think about the numbers too closely.

Shelter is a basic need we all share and having that taken care of forever is a nice thought.
I can see how some would take greater comfort in not having to pay rent compared to having dividends that(more than) cover your rent.

———

I hear you. The only thing though is that for me, cashflow equals comfort and stability. When you see the cashflow from your investments grow year after year, greater and greater, decade after decade, what’s better than that?

Ultimately, I think cashflow/oxytocin, cashflow/oxytocin, cashflow/oxytocin, etc. Every dividend is just more oxytocin. Tomorrow, I receive another dosage of oxytocin.

#60 crowdedelevatorfartz on 02.07.21 at 5:54 pm

@#56 Sara
“Ah, yes, I figured you for a divorcee. Can’t imagine why the ex would have left ….”

++++

Nope . Not at all.
I fall into the “Freedom First” category.

But I could list the amount of men who “got the house” and spousal/child support payments handed to them in a divorce settlement on the fingers of one hand for ALL the divorces in Canada over the past 50 years……..

But nice try dodging the financial aspect of why its mostly men pumping money into RRSP’s….they could only afford to buy one house….and the ex got it….so they do the next best thing for preparing for retirement in these tough times…..
A free house and spousal support….a nice gig if you can swing it.
Hug your lawyer.
:)

#61 Billy Buoy on 02.07.21 at 5:55 pm

Off topic Mr. Turner but:

What would you do if given the job as Central banker for Canada or USA during these troubled times?

Love to se it as a future column.

Suck up complete.

#62 Everything is going well! on 02.07.21 at 6:05 pm

DELETED. Anti-vax.

#63 Toronto_CA on 02.07.21 at 6:09 pm

Here in the UK (sorry but I’m keeping my GreaterFool Name) – it works as Garth intends.

The TFSA equivalent, called a “Stocks and Shares Independent Savings Account (ISA)” lets everyone, rich or poor, contribute 20,000GBP per year, roughly $35k/year. The kicker is, if you don’t use it – you lose the room, it doesn’t carry forward like a TFSA. At least someone who turns 18 and waits til 28 or so to start investing in a TFSA will have 10 years of carry forward room to use up (which will take a while!). Pity us Gen Y who were already 28 when the TFSA started in Canada.

The other thing the UK does, your RRSP equivalent (generically a “pension” here, or Self Instructed Pension Savings – SIPS) – is reduced from a max of GBP40k year up to GBP240k where it starts to reduce, then down to GBP4k / year for those making north of GBP 312k. This means the uber rich lose their ability to get upfront tax reductions through pensions.

For our household, finding GBP40k after tax to save (20k each spouse) is possible, but for many it’s so much room you’d not be able to max it out each year.

Canada could learn something from the UK model!

#64 Faron on 02.07.21 at 6:14 pm

#40 S.Bby on 02.07.21 at 3:54 pm

If you withdraw up to $5,000, the withholding tax rate is 10%. If you withdraw between $5,001 and $15,000, the withholding tax rate is 20%. If you withdraw more than $15,000, the withholding tax rate rises to 30%. More tax in Quebec. – Garth

The RRSP withdrawal becomes part of your taxable income for that year. Withholdings are simply a rough prepayment of the additional tax you would pay on those funds. I think there is a misunderstanding that one pays additional tax or a penalty on early withdrawal. You dont.

#65 Bob in Hamilton on 02.07.21 at 6:17 pm

About the picture: “Here’s a pic of Sherman (Silver Lab),” says Todd. “We would all look like this if we were walked 2 miles in the morning. Then 2 miles at night and ate only from a crockpot ! He’s a 120 lbs of pure lovin! Took this pic by Boundary Bay.”

Wow…what a dog. I want one.

#66 Re-Cowtown on 02.07.21 at 6:32 pm

Just sitting down to watch the Super Bowl. Saw Joe and Jill Biden. Kind of funny how the media insists that everyone call her Dr. Jill Biden. The media approved narrative is that everyone must be conditioned to think that she’s an M.D. when all she has is a Ph.D in Education. Hilarious.

I think I’ll follow Jill’s lead and insist that everyone start calling me Capt. Re-Cowtown because I have a sailboat.

Welcome to the Democratization of Theft of Valor.

#67 DON on 02.07.21 at 6:38 pm

Hey look at this 1%millenial

https://financialpost.com/technology/google-opens-paid-for-australia-news-platform-in-drive-to-undercut-governments-content-payment-law

The coding for the FANG platforms is not rocket science. Lots of room for niche competitors to start chipping away.

#68 Yukon Elvis on 02.07.21 at 6:40 pm

#46 Linda on 02.07.21 at 4:11 pm

One can have $ in a TFSA & not have it count towards income.
……………….

Right you are. For now. Enjoy it but don’t count on it forever because that could change with the stroke of a pen. Just like the contribution limit was slashed. Stroke of His pen.

#69 Wuhan We Got Y'all in Check! on 02.07.21 at 6:41 pm

friend of mine collected CERB and EI in 2020. Just checked out his T4 and it was incorrect – 2K over what he actually received. He had received 2K in error extra when he first applied for the benefit which was offset by no payments in future months. T4 looks to have not taken into account the no payment weeks. He can’t be the only one (can he?). Check your figures everybody.

#70 fishman on 02.07.21 at 6:43 pm

I’d like to bite Jaguar but got to stay between the lines. This is an economic blog. Well, politics too, but politics is an extension of economics. OK war too , but war is an extension of politics. That leaves dogs. Heres my masculine tip for dog owners. Name your dog with a name you can growl at the end. Like Rover. Or Ali, words you can growl & increase the pitch at the end of the word. Same when your training it to come. Never use the word Come. How can you growl the word Come? Use Here.
Feminized dog training tips. I dunno, pats & doggie treats? Warm water shampoos, blow dry & make pretty?

#71 BigD on 02.07.21 at 6:46 pm

Garth,
Max out TFSA or RRSP first?

#72 Timmy on 02.07.21 at 6:47 pm

Trust fund boy Trudeau doesn’t care about the middle class trying to get ahead, so he chops the TFSA contributions. He has been such a disappointement.

#73 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 02.07.21 at 6:48 pm

EMERGENCY IN TRAUMA ONTARIO!

Garth, I am extremely worried about what may happen in Toronthole tonight. Please increase protective measures on your blog!!!!!!!!!

Super Bowl LV may be extremely distressing for fans of the Make Believes. Canadians are all worried about the millions of losers in the GTA!

There is going to be an actual football WINNER (aka “Champion”) crowned tonight for a period of only one season, well under 54 years of play. This is a concept completely unknown to low self-esteem followers of the Toronto Make Believes.

Toronturds and GTAHoles may experience extreme emotional despair as well as suicidal ideation as this happens.

Official Guidance for Toronturds and GTAHoles:

*Please, do NOT toss chairs off the balconies of your
overpriced $900,000 – 350 sq ft glass walled condos!

*Please, do not attempt to shoot or stab your family, friends or neighbours in your ghastly suburban mcmansions, or complete strangers on the streets!

*Please, do not drive like self-important psychopaths on your low-tax-rate pothole infested roadways to show your frustration and run over bicyclists and children!

(We understand these are all considered normal behaviours for most in the GTA, but you must resist)

Toronturds and GTAHoles, fans of the Make Believes, please understand that in some cities, in some sports, there is the concept called “winning”. It is foreign to you, we appreciate that.

(Your great, great grandparents may have hazy memories of such things, but if any are still alive and have not been murdered or run over in your area, please do not approach them in order to maintain your COVID distancing)

“Winning” comes as part of organizations that do not trade away all their best talent, do not have criminal owners like theft and fraud artist Harold Ballard at the helm for decades, or child sex abusers allowed to work there forever like Gordon Stuckless, or thuggish doofuses like Brian Burke who wanted to make every player “truculent” instead of hardworking and talented, finding even more ways to keep losing every year.

If you experience extreme anxiety tonight, Toronturds, please reach out to your mental health counselor, or call 211, or consider switching channels to a show about house flipping.

*By all means, you can also call one of over 40,000 local realtors, and they will be happy to assure that everything will be fine and it is different in Toronthole and the GTA.

(You might even retire early and take a picture of Brad Lamb to bed with you and your partner to spice things up!)

Please be safe

#74 Beetman on 02.07.21 at 6:51 pm

FYI
If you wait till 70 before taking your CPP it raises the amount of your claw back thresh hold on OAS by 42 percent. Surprising even some well respected chartered accountants don’t know this.

#75 Nonplused on 02.07.21 at 6:53 pm

A timely reminder, thanks. My wife has a ton of room so we’ll be at least eliminating her top tax bracket this year.

It is a curious thing how the RRSP deduction works because it returns a larger portion of your tax bill the more you earn (since it goes against income and thus the higher the tax bracket the more money you get back to a point). I am pretty sure this is the last year this will be true though, I expect a “flat” deduction in the form of a tax credit coming next year. After all, “equity”. Why should high earners get up to 54% back when low earners only get 17% back? Let them all get 17% back. I am guessing that is the plan anyway so if you are in the 54% bracket now might be the year to max out your contribution and any carryover.

————————————-

As for the TFSA, the logic Trudeau used to justify slashing the limit is dubious at best. Of course only people with $10,000 at the end of the year can put $10,000 in, so likely high income earners, but unlike the RRSP they already paid taxes on that money, probably at 54%, and if they can’t put it in a TFSA they’ll be putting it somewhere. Maybe a cash account, maybe pay down the mortgage, maybe a GIC. They will still have the money. So all Trudeau really accomplished was to convert $4,500 per year into assets subject to capital gains and dividend taxes. He’s not taxing the original $4,500 because that has already been done, just the gains and dividends. And since the gains probably won’t be realized until retirement at lower tax rates, most of the kick is in the dividends pre-retirement.

Given that capital gains and dividends have a lower “inclusion rate” already, the amounts are probably fairly trivial and the reduction looks spiteful. But I expect the inclusion rate to go to 100% shortly as well to satisfy the spiteful “a dollar is a dollar is a dollar” crowd, despite the fact that not all dollars are equal. For example dividends are paid out using money the corporation has already paid taxes on, which is why the credit exists. Capital gains on the other hand are at least 2% (or whatever the current rate is) inflation. But you don’t see any place in TurboTax to back the inflation out so you are in essence paying taxes on inflation. Nice. And there is something to be said about encouraging investment in capital projects and attracting foreign investment, which high tax rates do not.

———————————

And then there is all the talk of taxing primary residences. I don’t see it happening but if it does, Alberta appears to be exempt. That horse has already left the barn. Eventually the bubbles in YVR and YYZ will also end, who knows that could happen any time, and then will people be able to write off their losses? According to my assessments, I’m sitting on about $45,000 in losses right now which I would love to be able to write off if I sold the house. And what about realtor fees? Maintenance? Property taxes? Land transfer taxes? What a mess.

————————————

In other news Sunshine Mountain will be closed tomorrow. The reason given is “extreme cold” but they have never shut down at -25C before. -35C sure, but not -25C. This is covid related because they can’t fit everyone who wants to warm up with a hot chocolate into the lodge, me thinks. Despite good snow, the resorts are having a terrible year already due to covid restrictions. Some of them will probably join the movie theaters in receivership at the end of the season. Particularly Lake Louise. It seems every time they build a new lift or lodge they go into receivership. Usually it is snow related but not this year. This year it is a slimy germ. Can a ski hill get a mortgage deferral? Sorry Charlie, that new lift makes all the sense in the world but the timing couldn’t have been worse. Hopefully you paid for it cash.

#76 F&FF-Ex Free on 02.07.21 at 7:08 pm

#60 crowdedelevatorfartz on 02.07.21 at 5:54 pm
@#56 Sara
“Ah, yes, I figured you for a divorcee. Can’t imagine why the ex would have left ….”

++++

Nope . Not at all.
I fall into the “Freedom First” category

Fartz and freedom first dudettes would make a great Odd Couple.

#77 DON on 02.07.21 at 7:08 pm

#66 fishman on 02.07.21 at 6:43 pm
I’d like to bite Jaguar but got to stay between the lines. This is an economic blog. Well, politics too, but politics is an extension of economics. OK war too , but war is an extension of politics. That leaves dogs. Heres my masculine tip for dog owners. Name your dog with a name you can growl at the end. Like Rover. Or Ali, words you can growl & increase the pitch at the end of the word. Same when your training it to come. Never use the word Come. How can you growl the word Come? Use Here.
Feminized dog training tips. I dunno, pats & doggie treats? Warm water shampoos, blow dry & make pretty?

***********

Be careful….sis had a cat in Vancouver called lady. The cat often got out…i went looking for her. The lady having a cigarette outside the new massage parlour thought I was cat calling her.

The next puppy gets the name god…see how that one goes over.

Freezing on the water today…west coast.

#78 DON on 02.07.21 at 7:13 pm

One last post…

Read an article chatting about what Sherry Cooper and Rod McLidster (sp?) think about the current state of real estate. The mortgage news…apparently, according to Sherry…it is not the Bank of Canada’s job to rescue indebted home owners from intetest rates hikes. Who woudda guessed.

#79 the Jaguar on 02.07.21 at 7:16 pm

@#70 fishman on 02.07.21 at 6:43 pm

Pretty sure I’ve seen you stray outside those lines before, but in no way am I throwing ‘chum’ in the waters. I more or less subscribe to J. Peterson’s views on this particular matter….

https://www.youtube.com/watch?v=aMcjxSThD54

#80 Flywest29 on 02.07.21 at 7:17 pm

Its amazing to see that as days go by Turnernation is the most sane person here. Weird.

#81 Zombies will inherit the earth on 02.07.21 at 7:21 pm

The eco- greenies need to figure out how to tax them..

https://phys.org/news/2018-12-life-deep-earth-totals-billion.amp?__twitter_impression=true

Barely living “zombie” bacteria and other forms of life constitute an immense amount of carbon deep within Earth’s subsurface—245 to 385 times greater than the carbon mass of all humans on the surface, according to scientists nearing the end of a 10-year international collaboration to reveal Earth’s innermost secrets.

#82 YVR 60% Crash on 02.07.21 at 7:21 pm

#17 Dolce Vita on 02.07.21 at 2:30 pm

————————————

Sorry for bursting your bubble. The bottom line is your body is immunity to the virus for at about 8 months.

https://www.healthline.com/health-news/how-long-does-immunity-last-after-covid-19-what-we-know#The-bottom-line

#83 Island Girl's Dad on 02.07.21 at 7:29 pm

#40 S.Bby on 02.07.21 at 3:54 pm
I heard somewhere (can’t recall where) that if a person takes out $4,000 or less on each RRSP withdrawal that there is less or no tax withheld on those smaller amounts.

Maybe someone could confirm that?

If you withdraw up to $5,000, the withholding tax rate is 10%. If you withdraw between $5,001 and $15,000, the withholding tax rate is 20%. If you withdraw more than $15,000, the withholding tax rate rises to 30%. More tax in Quebec. – Garth

Just so you understand fully, the tax withheld is applied against the tax you would otherwise owe for the tax year. It is not the amount of tax you would actually pay on the RRSP withdrawal that you are required to include in your income. Maybe you already knew this but the way you phrased your question indicated the possibility that there was a misconception.

#84 Ponzius Pilatus on 02.07.21 at 7:30 pm

#66 Re-Cowtown on 02.07.21 at 6:32 pm
Just sitting down to watch the Super Bowl. Saw Joe and Jill Biden. Kind of funny how the media insists that everyone call her Dr. Jill Biden. The media approved narrative is that everyone must be conditioned to think that she’s an M.D. when all she has is a Ph.D in Education. Hilarious.

I think I’ll follow Jill’s lead and insist that everyone start calling me Capt. Re-Cowtown because I have a sailboat.

Welcome to the Democratization of Theft of Valor.
———–
All she has is a PhD.
Are you serious? A PhD is the highest degree that you can earn in a University.
Depending on what you study it can take 6 to eight years.
And yes, she can call herself A Doctor.

#85 crowdedelevatorfartz on 02.07.21 at 7:30 pm

@#63 TorontoCA
” Pity us Gen Y who were already 28 when the TFSA started in Canada.”

+++++

No no.
Pity us Boomers born between 1945 and 1965.
By 2009 when the TFSA started we were between the ages of 44 to 64.
Its so unfair that we only had this tax free tool given to us so late in life.
We were busy vacationing, buying Winnebegos and having expensive extra marital affairs!
We were well into our divorce (50% of all marriages end in divorce).
We should be allowed to contribute extra TFSA room all the way back to the same age as Millenials in 2009.
Its only fair!

#86 Nonplused on 02.07.21 at 7:31 pm

#12 Grateful in Victoria on 02.07.21 at 1:48 pm
“70 per cent of RRSP contributors are men. What does that tell us.”
It tells us that men make 30 per cent more than women for the exact same work.

———————————

What men, where, are making 30% more for the exact same work? Me thinks you speak myths.

Do women teachers get paid less than their male counterparts? Nope, it isn’t there. How about McDonald’s employees? Nope, not there either. Airline pilots? Nope. Doctors? Dentists? Engineers? Nope, nope, and nope.

The entirety of the so called “pay gap” can be explained by career choices and seniority. There is no “pay gap” in Canada based on gender.

The whole concept makes no sense, as employers hire based on bang for the buck, and large employers have government reporting to do. Why on earth would you not hire a woman if she is just as capable as a man? There is no financial interest to do so. It just doesn’t make any sense to pay men more for “the same work” because as a business owner that extra money is coming right out of your pocket.

#87 Nonplused on 02.07.21 at 7:39 pm

#51 millmech on 02.07.21 at 4:39 pm
#13
To be totally fair, a dollar is a dollar, home equity gains should be taxed every year, why should my neighbor get a 100k untaxed increase in his income every year. All those dollars of appreciation that he has tax free is totally a case of privilege that has to be eradicated in the interest of fairness.
Get on it!

————————————

Every year? Where will the money come from to do that????? Capital gains are not money until you sell.

#88 Ponzius Pilatus on 02.07.21 at 7:43 pm

I’ve been watching a football game for about an hour now.
For fun, I used a stopwatch.
Only about 7 minutes of actual play.
Most boring game on earth. Even baseball has less down time.
Oh, I forgot the great commercials.

#89 Linda on 02.07.21 at 7:45 pm

#68 ‘Yukon’ – right you are. Which is why I say ‘get in while you can’. Unfortunately, there isn’t much stopping rules being changed to the detriment of those who are fortunate enough to utilize such programs as RRSP’s, TFSA’s or even pensions. Shamefully, our government has little to no legislation protecting pension assets, as employees of Nortel, Sears, Air Canada etc. could attest.

#90 Niagara Region on 02.07.21 at 7:50 pm

Grateful #12
“70 per cent of RRSP contributors are men. What does that tell us.”
It tells us that men make 30 per cent more than women for the exact same work. Hence, they have more to invest.
__________________________________
According to a well-respected longitudinal study (2001-2015) by economist Dr. Heidi Hartmann, President of the Institute for Women’s Policy Research, American women make 49% of what men make:
https://www.cnbc.com/2018/11/28/study-for-every-dollar-a-man-earns-a-woman-earns-49-cents.html

It’s not that women are making dramatically less for the same job as their male counterparts, although gender pay gaps for the same jobs are well documented. It’s that women are punished financially for taking time off with kids (Refuse to reproduce???) and, more importantly, that women are tracked into different academic disciplines and different career paths than men from as early as the first years of high school. Also, women are less likely than men to be hired. As reported by the National Academy of Sciences, National Academy of Engineering, and the Institute of Medicine, “An impressive body of controlled experimental studies and examination of decision-making processes in real life show that, on average, people are less likely to hire a woman than a man with identical qualifications” (source: https://www.nap.edu/read/11741/chapter/2).

#91 the Jaguar on 02.07.21 at 7:57 pm

#77 DON on 02.07.21 at 7:08 pm
Freezing on the water today…west coast.+++

Freezin’ in Calgary, Don. We will have -27 for at least a week. It’s been a mild winter overall, but the whip came down a couple of days ago. Strolled over to the grocer earlier today and I sometimes carry some fresh bread crumbs with me. Laid them down in front of 3 magpies and not a crumb remained on my return route back. One wonders why some of these poor little birds don’t fly south in the winter months. It’s heartbreaking when the temperatures dip so low…
And yes, I know they are not popular birds, but every species is here for a reason…

#92 Tom from Mississauga on 02.07.21 at 8:16 pm

Dropping deductible amount of a RPP to the same as a TFA of $5K would push government DB contributions into taxable income. Hence political suicide and 0 chances of it happening.

#93 Job#1 on 02.07.21 at 8:25 pm

#87 Nonplused/millmech

I may be mistaken, but I read millmech’s comment as sarcasm, especially the every-year part.
I thought he was trying to demonstrate the absurdity of such a scenario.

#94 Sara on 02.07.21 at 8:28 pm

#76 F&FF-Ex Free on 02.07.21 at 7:08 pm
#60 crowdedelevatorfartz on 02.07.21 at 5:54 pm
@#56 Sara
“Ah, yes, I figured you for a divorcee. Can’t imagine why the ex would have left ….”

++++

Nope . Not at all.
I fall into the “Freedom First” category

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

Thanks for the clarification. That would have been my second guess. Either way, your bitterness towards the opposite sex is apparent.

#95 Dr V on 02.07.21 at 8:30 pm

13 3D – Have you thought this through? Do you have a
job? A business? Savings? investments?

At an income of $49kpa you start paying 28% tax in BC.
Yep, a wealthy elite at $25 per hour.

And you have stated incomes have not kept up with inflation, but do you recognize that a good portion of a
cap gain is inflation?

And dividends are taxed fully, whether eligible or not. If you owned a small business corp you would know
this.

Remember, this is YOUR $$ we are talking about.

#96 Ustabe on 02.07.21 at 8:30 pm

#84 Ponzius Pilatus on 02.07.21 at 7:30 pm

#66 Re-Cowtown on 02.07.21 at 6:32 pm
Just sitting down to watch the Super Bowl. Saw Joe and Jill Biden. Kind of funny how the media insists that everyone call her Dr. Jill Biden. The media approved narrative is that everyone must be conditioned to think that she’s an M.D. when all she has is a Ph.D in Education. Hilarious.

I think I’ll follow Jill’s lead and insist that everyone start calling me Capt. Re-Cowtown because I have a sailboat.

Welcome to the Democratization of Theft of Valor.
———–
All she has is a PhD.
Are you serious? A PhD is the highest degree that you can earn in a University.
Depending on what you study it can take 6 to eight years.
And yes, she can call herself A Doctor

The word doctor is derived from the Latin verb “docere,” meaning to teach, or a scholar. Anyone with a doctorate can be called ‘doctor’. The doctor’s degree was a product of the medieval universities; this higher degree simply conferred the right to teach.

The barbers who used to do the blood letting and applying of leeches adopted or co-opted the term Doctor from the verb doctoring and in doing so began to minimize its veracity among the unwashed as it applied to the less educated. As evidenced here today.

In other words a Doctor of Education connotes someone who has a PhD and has a more historical right the the honourific than a Doctor of Medicine does. Not many practicing doctors even have a PhD.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

While I have you may I draw your attention to the fact that raising the TFSA limit by basically doubling it was a bald faced re-election ploy by Harper who, well past his best buy date, was doing anything to cling to power. He even did a meet and greet with Doug Ford if I recall. Remember old stock Canadians? Remember his snitch line proposal for neighbours to rat out neighbours a la the Stazi?

Spend your time bitching about Trudeau, I do as well, but ignore how we got there at your peril.

#97 Sara on 02.07.21 at 8:32 pm

#60 crowdedelevatorfartz on 02.07.21 at 5:54 pm
@#56 Sara
“Ah, yes, I figured you for a divorcee. Can’t imagine why the ex would have left ….”

++++

Nope . Not at all.
I fall into the “Freedom First” category.

But I could list the amount of men who “got the house” and spousal/child support payments handed to them in a divorce settlement on the fingers of one hand for ALL the divorces in Canada over the past 50 years……..

But nice try dodging the financial aspect of why its mostly men pumping money into RRSP’s….they could only afford to buy one house….and the ex got it….so they do the next best thing for preparing for retirement in these tough times…..
A free house and spousal support….a nice gig if you can swing it.
Hug your lawyer.
:)
=======================

Thanks for the clarification. A lifelong bachelor would have been my second guess. Either way, your bitterness towards the opposite sex is apparent. Good thing (not just for you) that you stayed single. :)

#98 Sydneysider on 02.07.21 at 8:40 pm

“It is irresponsible. It’s only the wealthiest Canadians who have $10,000 laying around at the end of the year that they can put into that.”

Soon after I moved to Canada, I had a heated argument with a Vancouverite about the plural of “chicken”, which I maintained was “chicken” not “chickens”. Afterwards I discovered that my version (wrong) was an undetected trace of West Sussex dialect in my speech, which is faithful to the OE plural. To confirm this I asked the old man what he called those birds that produced eggs: “layers”, he said.

You could buy a lot of layers for $10,000.

#99 crowdedelevatorfartz on 02.07.21 at 8:40 pm

@#76 Eff Eff

“Fartz and freedom first dudettes would make a great Odd Couple”

+++++

You win a Freedom First ride in the elevator!

#100 millmech on 02.07.21 at 8:50 pm

#87
Where it always comes from, the HELOC. If every dollar is taxed the same as soon as the gains are realized(HELOC) why should it not be considered income. To access my funds I have to sell so there is a double standard there, is their not(according to the dollar is a dollar guy anyways).
I do not have a dog in this fight just using it as an example.
I am watching the 10 year treasuries rate with great interest though.
EXRO had a nice little pop last week, hoping for a little more this week!

#101 Dogman01 on 02.07.21 at 8:53 pm

#91 the Jaguar on 02.07.21 at 7:57 pm

-28 now, below 20 as the forecast high for the next seven days. Yep poor critters.

Is it possible an electrick car can function at these temperatures? Batteries lose so much power in my experience. Stored outside…how?

When it is dark and -27 I could not give a hoot about my carbon emissions.

#102 Dr V on 02.07.21 at 8:58 pm

89 Linda – a different perspective to consider for you. Being self employed, I am expected to fend for my own retirement. I am sure I owned all those companies in my RRSP investments, and possibly some of their bonds too

Should my investments be protected as well?

#103 crowdedelevatorfartz on 02.07.21 at 9:13 pm

@#97 Sara

Stats are stats.
50% of all marriages are ending in divorce.
The vast majority of wives get the house and spousal support.
I dodged that fiscal bullet.
Most of the investors in RRSP’s are men.
possibly because they cant hope ever own a house again after a divorce ….so they choose the next best retirement option……

At the risk of plagiarizing ……
Freedom first.
:)

#104 Russ on 02.07.21 at 9:34 pm

the Jaguar on 02.07.21 at 1:20 pm

The statistic about 70% of contributors being men is interesting. Spousal plans would be the logical explanation, but it reinforces old behavioural norms between the sexes, however far society thinks it has ‘evolved’. It would be interesting to survey 1000 or so top women executives and see how many were contributing to spousal plans. Not many is my guess. Must have something to do with that masculinity thing Fishman was talking about….
==========================

The Russ household fits well within the 70% metric and under “women earn less than men” banner.

The little women has seldom ventured into the workforce in our 35 years together. She is a long standing and current WFH (working for husband).

A long time ago when she expressed angst about not working for the household (WFtH)?
I reassured her with this tidbit:
“Honey, it’s my job to make the living. And you make the living worthwhile.”

I will retire as an ‘on average age’ for a Canadian male and she has a slightly larger RRSP than I. Makes sense to me.

Cheers, R

#105 Dominoes Lining Up on 02.07.21 at 9:44 pm

Interesting look at how rents in the USA in the big cities have been seriously impacted as people have moved out during COVID19.

https://www.nytimes.com/2021/02/04/realestate/how-the-pandemic-blew-up-rents.html

What will be the longer impacts in Canada? It seems quite a bit cheaper and easier already in Toronto.

#106 F&FF on 02.07.21 at 9:47 pm

#99 crowdedelevatorfartz on 02.07.21 at 8:40 pm

@#76 Eff Eff

“Fartz and freedom first dudettes would make a great Odd Couple”

+++++

You win a Freedom First ride in the elevator!

FF would be Felix
Fartz would be Oscar

What a happy couple!

#107 Niagara Region on 02.07.21 at 10:17 pm

#12 Grateful

The male-female wage gap that you’re discussing as a 30% difference is not wrong, but the fuller concept is important. The average median income of women who work full-time in the US is roughly 70% of the average median income of men who work full-time in the US. This is what folks are referring to when they say that women earn 70 cents for every dollar that men earn. However, this gender gap is in practice much larger because only full-time workers are considered in such a stat, and women over the age of 25 are much more likely to work part-time than men over the age of 25. Hence, when workers’ long-term earnings are considered and include part-time work, the gap widens to women earning 49% of what men in America make. See my fuller explanation in entry #90 re: Heidi Hartmann’s study. And, yes, you are correct that women routinely earn less for the exact same job as men: it’s just that the wage gap for the exact same job is much smaller than 30%.

#108 Planty on 02.07.21 at 10:27 pm

#66 Re-Cowtown

Anyone with a PhD is a doctor, without question. The word is derived from ‘teacher’ in Latin.

Yours truly,
Some guy with a PhD (who doesn’t even ask his students to call him doctor, but reserves the right to do so!)

#109 Sara on 02.07.21 at 10:28 pm

#103 crowdedelevatorfartz on 02.07.21 at 9:13 pm
@#97 Sara

Stats are stats.
50% of all marriages are ending in divorce.
The vast majority of wives get the house and spousal support.
===============

Statistically, men earn more than women, thus the apparent favoritism with respect to divorce settlements you are so bitter about.

Yet divorce law treats both sexes the same.
Assets accumulated DURING the marriage (it is a financial partnership, inheritances are excluded) are divided 50/50. Spousal support is awarded to the spouse who makes less money, the duration of which is based on both the length of the union and the age of the lesser earning spouse at time of divorce (reasoning being it is more challenging, for example, for a 50 year stay at home parent to retrain for the job market than it is for a 30 year old, regardless of gender).

Since women are more likely to earn less than men for various reasons, one being that generally speaking women as opposed to men, are more often the ones who put careers on hold or choose lesser paying jobs to have more time for child rearing, it stands to reason that men as a group pay more in spousal support than women — as you say, stats are stats.

#110 Sara on 02.07.21 at 10:40 pm

@Crowdie, the wife isn’t just given the house such that the husband is left with less assets than she has. Have you heard the legal term “equalization payment” with respect to divorce?

“The money that the spouse with the higher total has to pay the spouse with the lower total is called an “equalization payment.” The purpose of an equalization payment is to put both spouses in an equal position. The result is that both spouses end up owning the same total value of property.

https://www.legalline.ca/legal-answers/calculating-family-property-and-equalization-payments/#:~:text=The%20money%20that%20the%20spouse,same%20total%20value%20of%20property.

#111 Sara on 02.07.21 at 10:43 pm

As a married person (for a very long time), I know this because my BIL is a divorce lawyer.

#112 applepi on 02.07.21 at 10:55 pm

While i agree with you Garth that the TFSA is a more egalitarian engine for investing, I think the point is that having BOTH makes it a tool for wealthy.

Ideally, you’d be given a TFSA that REDUCED the amount that you could put into an RRSP. So… make the total you could put away 30,000 and you could choose 10k of that to be in a TFSA or keep it as an RRSP. Essentially, you simply make that choice on your taxes each year.

TFSA should have come at the EXPENSE of the RRSP, not in addition to it.

#113 Nonplused on 02.07.21 at 11:24 pm

#100 millmech on 02.07.21 at 8:50 pm
#87
Where it always comes from, the HELOC. If every dollar is taxed the same as soon as the gains are realized(HELOC) why should it not be considered income. To access my funds I have to sell so there is a double standard there, is their not(according to the dollar is a dollar guy anyways).

————————————–

I am not sure what you are getting at. Are you saying people should have to take out HELOC’s to pay capital gains taxes on appreciation they have not yet realized? What happens when the bank says “no” because you don’t have the income to support the loan?

People who support unrealized capital gains taxes don’t understand enough about finances to work the cash register at McDonald’s.

#114 Nonplused on 02.07.21 at 11:28 pm

#93 Job#1 on 02.07.21 at 8:25 pm
#87 Nonplused/millmech

I may be mistaken, but I read millmech’s comment as sarcasm, especially the every-year part.
I thought he was trying to demonstrate the absurdity of such a scenario.

—————————–

I hope so, but these days I wouldn’t be surprised if he/she and others are serious. The kids seem to have no idea.

#115 Glimmer of hope on 02.08.21 at 12:31 am

DELETED

#116 Hf on 02.08.21 at 12:31 am

50% of marriages don’t end in divorce.

It’s about 38%

#117 Faron on 02.08.21 at 1:16 am

#91 the Jaguar on 02.07.21 at 7:57 pm

#77 DON on 02.07.21 at 7:08 pm
Freezing on the water today…west coast.+++

Freezin’ in Calgary, Don.

It’s heartbreaking when the temperatures dip so low…

And yes, I know they are not popular birds, but every species is here for a reason…

Why is it heartbreaking? They live there because they are perfectly adapted for that ecosystem -30 and all. Those birds have been present in your neck of the woods for at least 12,000 years with nary a crumb from a human (for at least some of that time anyway) and far colder winters. Any member of the Corvidae family needs little help. They are more likely to train their humans than humans training them.

When I lived in Calgary I witnessed the recent aftermath of a trio of Magpies that decided to attack a rabbit for its eyeballs. That was it. Chased the thing around then went for the eyes then left. Really neither here nor there in the animal kingdom as the meat from the rabbit was probably soon gobbled by any number of other critters, but if you are going to anthropomorphize, you may want to consider that kind of behaviour.

I miss Calgary cold snaps. Used to play “how low can the wind chill go” when riding my bike home from campus down Home Road when the roads were dry.

#118 Moh on 02.08.21 at 1:54 am

Time to pay back the HBP lol

#119 CalgaryCarGuy on 02.08.21 at 2:34 am

Re#101 by Dogman01
Is it possible an electrick car can function at these temperatures? Batteries lose so much power in my experience. Stored outside…how?
When it is dark and -27 I could not give a hoot about my carbon emissions.
—————————————————————–
EXACTLY. It is amazing to me how so many people lose sight of the fact our severe climate holds total control over the efficacy of conversion to electrical power and heat away from fossil fuel consumption. The technology does not yet exist for this to be possible. Wishing and hoping for it to be so doesn’t make it so. Research and investment will make it happen in due course. That research and investment would naturally come from ENERGY companies if people would let them prosper.

#120 Dark lord on 02.08.21 at 3:36 am

Back to reality:

Britains government leader Boris Johnson has vaccinated 12 million , twice.

Canada’s leader Justin Trudeau has allowed only 223 thousand to receive one vaccination. Useless without the second.

Bangladesh has a surplus supply and has provided Hungary with its extra doses.

Canada will receive no reliable vaccine supply.

No politics, just an observation.

#121 willworkforpickles on 02.08.21 at 6:19 am

Coming US stimulus support checks will put some money in the pockets of the lower 80% less affluent temporarily…but all that government stimulus winds up in the pockets of the rich eventually generating steady growth supposedly and hopefully. And provided the rich have the incentives provided to them through growth oriented government leadership.
Principal should work the same everywhere else in the first world.
Leaders with the fortitude and ability to forge new growth from the largesse they create….ahhhh, ok…well
Well Well Well
There seems to be something missing from that picture off in the real world.

#122 crowdedelevatorfartz on 02.08.21 at 8:04 am

@sara 109,110,111

My my.
Seems |Ive touched a nerve.
Or are the random thoughts all trying to get out simultaneously?
So , you’re a divorce “expert” because “Your Brother in Law is a divorce Lawyer”
My god.
As for an equal dispersion of assets, you are either delusional or joking right?
As a female co-worker once bragged after her divorce,
“The first thing my lawyer asked me was, “Do you want to hurt him or make him bleed?”

Skinned or skinned alive into perpetuity seems to be the financial options in a divorce from the male perspective.

Those are the facts.

May i suggest that you dont try and retain your B.I.L. if you get a divorce from Hubby since he will be torn between receiving a huge fee from you (paid by his brother) and having his penniless brother living in his basement.
Get a lawyer from outside the family unit…..far more profitable for you.

Dare I suggest that most women marry men BECAUSE they earn more than they do?
You want to marry “up” not “down”.

#123 crowdedelevatorfartz on 02.08.21 at 8:09 am

@#106 F&FF

have you ever thought about getting that stutter checked?

#124 crowdedelevatorfartz on 02.08.21 at 8:13 am

@#116 Hf
“50% of marriages don’t end in divorce.

It’s about 38%”

++++

That must keep the divorce lawyers up at night.

Since most marriage strife is about money (or the desperate lack there of) and we are about to head into an economic slow down.

It’ll be interesting to see if the divorce rate sky rockets.

#125 BillyBob on 02.08.21 at 8:20 am

hey Dolce, I see you neglected to mention Canada on your shortlist of “vaccination hogs”.

If ordering 9X as many vaccines as necessary for the whole population and then STILL planning to raid Covax for doses intended for poorer nations isn’t “hoggish”, what, pray tell, is? It’s a bit rich for Canada to complain to other nations at this point just because their big grab attempt didn’t pan out.

None of the entities you list are remotely near vaccinating their own populations, but they should give some to Canada because the Trudeau Liberals™ have completely mismanaged vax production and procurement?

Mmm-kay.

Sure, countries with surplus should share with those with less, but that’s hardly the state of things anywhere yet.

[To properly align myself with academia’s pretentious use of titles outside of any professional context], yours truly,

Captain BillyBob

#126 Captain Uppa on 02.08.21 at 8:34 am

The Bitcoin train keeps chugging!

To quote Thanos; “I am inevitable”.

#127 crowdedelevatorfartz on 02.08.21 at 8:38 am

Some interesting charts and graphs in this link.

https://www.cardus.ca/research/family/reports/the-canadian-marriage-map/

Singles are almost equal in number to Marrieds and are rapidly increasing in numbers ( more single females than single males).

Marriage is becoming increasingly irrelevant to the younger cohort.

Gay male couples earn more than gay female couples ( watch out for the circling divorce lawyers).

40% of marriages end in divorce with money (68% name financial matters BEFORE infidelity as the #1 reason for divorce).

Stats.

And the rich …get richer…….

:)

#128 uppa uppa on 02.08.21 at 8:43 am

https://www.forbes.com/sites/billybambrough/2021/02/08/bitcoin-price-rockets-after-elon-musks-tesla-reveals-it-bought-15-billion-worth-of-bitcoin/?sh=11dc8eff5b63

Tesla announced that it bought $1.5 billion worth of bitcoin in January, according to a filing with the Securities and Exchange Commission, adding it would soon start accepting payments in bitcoin.

:)

#129 Love_The_Cottage on 02.08.21 at 9:10 am

Very cold this morning. Damn that Trudeau. Worst PM ever. Failing to secure an adequate supply of heat.

#130 crowdedelevatorfartz on 02.08.21 at 9:37 am

@#125 Billybob
“[To properly align myself with academia’s pretentious use of titles outside of any professional context], yours truly,

Captain BillyBob”

++++

Good one.
But I thought “Captain” was replaced by “1st Officer” on airlines.
No matter.

The most pretentious “title” i ever heard ( and almost choked on my drink) was at a dinner party .
A doctor and his wife.
She introduced herself as “MRS. Dr. Smith…”
No first name. just Mrs Dr. Smith.
Bizz- zarrrrrr

#131 Dark lord on 02.08.21 at 9:40 am

What if this guys right?

Can you imagine the “ Great Reset “ that would happen if rates jumped over 4% within 24 months? Wild. Buck wild. I’m thinking Bela Lagosi wild. Chaos in technicolor.

https://www.marketwatch.com/story/a-perfect-storm-is-brewing-for-interest-rates-to-surge-says-this-bond-expert-11612352825?link=sfmw_fb&fbclid=IwAR3F0cnqLjnhw4r4ZhdWZUtXnUFO9mlhrDczqzEMpBlXtjO4dxMYXd2KFLk

Hail Satan

#132 LP on 02.08.21 at 9:47 am

#51 millmech on 02.07.21 at 4:39 pm
#13
To be totally fair, a dollar is a dollar, home equity gains should be taxed every year,…

No way – the gains are only realized if the homeowner SELLS, not merely just because a market rises yoy.

#133 Dharma Bum on 02.08.21 at 9:53 am

#26 Turner Nation

This is the fourth Silver Hotel Group hotel to lease its rooms to clients since COVID-19 commenced. In addition to the Novatel, the Strathcona and the Hotel Victoria, Silver Hotel Group also owns the Bond Hotel, which was opened to the homeless in late August and recently became the first to add to an Urgent Public Needs (overdose prevention) Site within the hotel proper.”
——————————————————————–

Cool.

Sounds like a great idea for a new travel concept!

Hobo Hotelling.

One can travel to and fro in boxcars for a well rounded experience.

https://people.howstuffworks.com/still-riding-the-rails-life-modern-hobo.htm

#134 Dharma Bum on 02.08.21 at 10:01 am

#12 Grateful in Victoria

This chick needs to be reeducated by Dr. Jordan Peterson.

https://www.youtube.com/watch?v=xQu9-LR4GcE

#135 Dharma Bum on 02.08.21 at 10:22 am

#108 Planty

PhD = Piled High and Deep

#136 elon's toys on 02.08.21 at 10:25 am

#128 uppa uppa on 02.08.21 at 8:43 am

congrats if your got in cheap. it seems like total madness to me, but uppa for now i guess.

dogecoin, made as a joke, is the place to be lately!

maybe that’s a warning sign, but the believers are strong.

is there any way btc comes back to 20k or less?

#137 Ponzius Pilatus on 02.08.21 at 10:39 am

#123 crowdedelevatorfartz on 02.08.21 at 8:09 am
@#106 F&FF

have you ever thought about getting that stutter checked?
—————-
Have you ever thought about getting that bitterness checked ?

#138 Ponzius Pilatus on 02.08.21 at 10:44 am

135 Dharma Bum on 02.08.21 at 10:22 am
#108 Planty

PhD = Piled High and Deep
————————
Why the insult?
No need for this shit.

#139 Sail Away on 02.08.21 at 11:02 am

#12 Grateful in Victoria on 02.07.21 at 1:48 pm

…men make 30 per cent more than women for the exact same work. Hence, they have more to invest.

————-

Huh. My wife earns exactly what any person in her position would earn. The salary, strangely, is set by the job. However, through dedicated effort, she has reached the highest position, hence the highest salary even though she sets policy for scores of men.

Oh, and she’s a doctor… PhD type. Disrespect the title at your peril. For formal events, we often go as ‘Dr and Mr Sail Away”.

#140 maxx on 02.08.21 at 11:06 am

@ #7

Great point, and as Garth has stated umpteen times, “financial illiteracy is rampant”.

When “the budget will balance itself” is brayed in MSM across the globe by the nation’s sock model, it’s not much of a stretch to conclude that financial ineptitude is well beyond formidable in all strata of society- many are now probably convinced that their personal finances will somehow balance themselves.

Horrendous.

It’s a constant source of amazement and dismay that so many have no clue about handling money. Not a one.

Many can’t afford basics because of this, let alone a deep green hue of vitriolic attitude toward those who sacrificed and worked their butts off to get to where they are today. And isn’t that vitriol a precious and wondrous device to use in politics.

#141 IHCTD9 on 02.08.21 at 11:11 am

#127 crowdedelevatorfartz on 02.08.21 at 8:38 am
Some interesting charts and graphs in this link.

https://www.cardus.ca/research/family/reports/the-canadian-marriage-map/

Singles are almost equal in number to Marrieds and are rapidly increasing in numbers ( more single females than single males).
___

Thanks for the link Fartz, that is some interesting stuff right there.

Single person households now outnumber every other type of household in Canada. Single parent households sneaking up on 10%. Couples with no kids, second largest group in Canada. Humongous increase in Men living alone right across the age range. All these trends have assuredly increased further since that data in 2016.

This stuff will drive future policy. If the trends continue, the first beef on deck will be the untold billions in financial support singles, and couples with no kids give into the system (CCB, Public School, Daycare, etc…) while not having access to things like spousal split investing, pension income splitting, certain tax deductions etc…

You can take this one to the bank, households without kids are now a solid majority in Canada.

#142 Sara on 02.08.21 at 11:12 am

“Dare I suggest that most women marry men BECAUSE they earn more than they do?”

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

I can’t identify. Married my high school sweetheart decades ago when he was poor like me. Lots of Crappy dinner was eaten back in the day.

Still married decades later to the same guy. Not always happily because long term marriage is not easy at times, but for us anyway, still worthwhile. In particular, the family we have created together (after many years of the challenges of raising children) is very rewarding for both of us.

Most women that I know personally, married because they thought they were in love and wanted to raise a family. Those that divorced fell out of love, because as I am well aware, partnering up with any human requires a lot of compromise and collaboration – not everyone is up to the task, particularly as they evolve and change over the years, possibly different directions.

It’s sad that you are so jaded you assume MOST women marry men BECAUSE men make more money than women. Who should women marry if they want to partner up and perhaps have children? Other women who statistically fit within the same earning category?

#143 KLNR on 02.08.21 at 11:16 am

@#138 Ponzius Pilatus on 02.08.21 at 10:44 am
135 Dharma Bum on 02.08.21 at 10:22 am
#108 Planty

PhD = Piled High and Deep
————————
Why the insult?
No need for this shit.

LMAO, have you forgotten where you are?

#144 bdwy on 02.08.21 at 11:19 am

tsla announcing purchase of 1.5b of btc = 100b boost in crypto market cap.

no speculation here?

#145 Sara on 02.08.21 at 11:28 am

When people debate whether or not women earn less than men, the focus is often on comparing the pay for the same type of work.

However the main reason women earn less than men overall, is not because they are paid less for the same job (not saying that does or does not happen), but because more women are employed in the types of jobs that pay less (ex, service industry) and more women than men are employed part-time while being the predominant family caregivers (children and aging parents).

#146 IHCTD9 on 02.08.21 at 11:39 am

#139 Sail Away on 02.08.21 at 11:02 am
#12 Grateful in Victoria on 02.07.21 at 1:48 pm

…men make 30 per cent more than women for the exact same work. Hence, they have more to invest.

————-

Huh. My wife earns exactly what any person in her position would earn. The salary, strangely, is set by the job.
___

Holy Cow, your wife too? Ms. IH gets paid the same as anyone else who does her job also!

This is truly an amazing coincidence!!

#147 BillyBob on 02.08.21 at 11:54 am

#130 crowdedelevatorfartz on 02.08.21 at 9:37 am
@#125 Billybob
“[To properly align myself with academia’s pretentious use of titles outside of any professional context], yours truly,

Captain BillyBob”

++++

Good one.
But I thought “Captain” was replaced by “1st Officer” on airlines.
No matter.

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

Nope, Captain is still captain (left seat, four bars). First Officer is what used to be called co-pilot (right seat, three bars).

Just glorified bus drivers using science and expertise, I’ve heard.

If you think an elevator is fun, you should ply your trade in an enclosed cockpit with no escape for hours.

#148 IHCTD9 on 02.08.21 at 11:55 am

#142 Sara on 02.08.21 at 11:12 am

It’s sad that you are so jaded you assume MOST women marry men BECAUSE men make more money than women.
______

Statistically, Women are loathe to “marry down”. This directive is based on perception and expectations when young, and actuality when older. This sentiment apparently runs the gamut of characteristics, but with Women, is especially prevalent where future financial prospects of her potential mate is concerned. It is almost assuredly and evolutionary remnant still floating around in our DNA.

IMHO, I would EXPECT most Men to make more than their wives, as most Women will tick the “good education/profession/income box” over a lot of other things (say for instance compared to the “can fix the roof”, or “can change a tire” boxes which reside much further down the priority list).

Although, an interesting occurrence today, is that marriages are more often seen with a more wealthy and better educated demographic, and also appear to be lasting longer than they have in decades.

Perhaps in the age of educated Women, Men too, are now “loathe to marry down”…

#149 Sail Away on 02.08.21 at 12:03 pm

#146 IHCTD9 on 02.08.21 at 11:39 am
#139 Sail Away on 02.08.21 at 11:02 am
#12 Grateful in Victoria on 02.07.21 at 1:48 pm

…men make 30 per cent more than women for the exact same work. Hence, they have more to invest.

———-

Huh. My wife earns exactly what any person in her position would earn. The salary, strangely, is set by the job.

———-

Holy Cow, your wife too? Ms. IH gets paid the same as anyone else who does her job also!

This is truly an amazing coincidence!!

———–

Haha. Probably the only two women in the world!

#150 Faron on 02.08.21 at 12:19 pm

#149 Sail Away on 02.08.21 at 12:03 pm

Haha. Probably the only two women in the world!

Hmmm, unionized gov’t jobs that just happen to have equal pay regs in place. Don’t kid yourself or anyone silly enough to take your word as universal that your ladies’ experience is representative of free market conditions.

#151 Faron on 02.08.21 at 12:23 pm

Sail Away: “But Faron, the free market optimizes for productivity and thusly metes out the correct wage for each worker. Capitalism is blind blah blah blah.”

BS. The free market is a social construct subject to as much sexism as is present throughout society that, while better hidden these days and improved over yesteryear, is still a far far far cry from bringing equal pay for equal work.

#152 IHCTD9 on 02.08.21 at 12:28 pm

#145 Sara on 02.08.21 at 11:28 am

…However the main reason women earn less than men overall, is not because they are paid less for the same job (not saying that does or does not happen), but because more women are employed in the types of jobs that pay less (ex, service industry) and more women than men are employed part-time while being the predominant family caregivers (children and aging parents).
_____

Yep. How many couples do you know with the Man in a decent career while the wife raises the kids and then gets some kind of menial job afterwards to supplement the household income? In my Gen X cohort – this is very prevalent, most of my peers are in this situation.

Even Ms. IH who has 2 degrees would have showed less income then myself for years on end – due to having kids, and a long stretch of working part time while the kids were young. Her income potential was always higher than mine right on through, just not enough hours worked to make her the bread winner.

I expect going forward, Women will show much better on the income side as Women pretty much all head to post secondary these days, and many female dominant positions pay great (government, teacher, nurse etc…), not to mention that population replacement in the West has been left for Immigration in lieu of Procreation…

#153 Dr V on 02.08.21 at 12:28 pm

And now for something completely different

https://ca.finance.yahoo.com/news/bond-vigilantes-still-call-shots-130000400.html

The plight of Columbia. Trying to fight the pandemic with deficit spending whilst maintaining its credit
rating.

#154 IHCTD9 on 02.08.21 at 12:34 pm

#147 BillyBob on 02.08.21 at 11:54 am

Nope, Captain is still captain (left seat, four bars). First Officer is what used to be called co-pilot (right seat, three bars).
___

If I were an Airline Captain, I would refer to my First Officer as “Number One”, and utter a “Make it so” here and there for good measure.

#155 Faron on 02.08.21 at 12:37 pm

#148 IHCTD9 on 02.08.21 at 11:55 am

“her potential mate is concerned. It is almost assuredly and evolutionary remnant still floating around in our DNA.”

Sorry IHTCD9, but that is archaic garbage not based in genetic reality or any real science or statistics. This is socialized in however subtly over the decades of women’s exposure to bulk media where this idea is ingrained because it benefits the status quo.

If you want to get into DNA and what’s best for humans, read Sex at Dawn as one standpoint or even Sapiens which cites that book. Our DNA wants (if that’s even a thing) a medium sized group of us to cuddle up and share everything from food to possessions to sexual partners. Unless you are swingers (can’t be ruled out) I seriously doubt that Sail Away or IHTCD9 really want to go down that road. Claiming evolution and DNA while simultaneously claiming monogamy and nuclear families is an exceptionally crude mishmash of moralistic ideals (written by men) that typically accompany religion of most stripes combined with the last 200 years of science. The female “urges” that arise from that are actually nothing more than socialized response and has zero to do with “genetic programming”. Furthermore, and I’m not accusing you of this, but it’s a slippery slope from DNA driven behaviour to eugenics. You would be strongly advised to avoid stepping onto that slope both because it’s not fact based nor is it ethically sound.

#156 Sara on 02.08.21 at 12:37 pm

So nice to continue to see preferred share etfs heading upwards. DXP at 20.45 last time I looked. I’m no longer in the red with respect to this fund.

Also, marijuana ETFs on the up and up. I know I should not have bought any if I want to call myself an “investor”, but only have small positions in hmmj and hmus, so no biggie that I had lost money, but the tide is changing with respect to this sector, particularly now that Biden is president. Glad I didn’t sell when the sector did a nose dive.

In my family, I (not hubby) is the investor. If he had had had his way, we would have individual stocks and bitcoin(had to talk him out of buying at the peak), as he has no interest in actually figuring out what the term “balanced and diversified” means. LOL, Oh well, we all have our strengths and weaknesses. Fortunately he is cool with me doing the investing for both of us.

#157 Sara on 02.08.21 at 12:40 pm

Yikes, “am” not “is” and too many “hads”. It’s hard to be a perfectionist.

#158 Faron on 02.08.21 at 12:43 pm

#152 IHCTD9 on 02.08.21 at 12:28 pm

#145 Sara on 02.08.21 at 11:28 am

I expect going forward, Women will show much better on the income side as Women pretty much all head to post secondary these days, and many female dominant positions pay great (government, teacher, nurse etc…), not to mention that population replacement in the West has been left for Immigration in lieu of Procreation…

Yep, that’s a good point. However, COVID is hacking this advance apart as women predominantly are leaving the workforce to caretake for the family. That is one of the worst ramifications of the pandemic — there’s a large component of the labour force that will not seek work right away and may be hard pressed to take on jobs once it’s passed. Fewer workers means smaller economy.

#159 IHCTD9 on 02.08.21 at 12:51 pm

#150 Faron on 02.08.21 at 12:19 pm

Hmmm, unionized gov’t jobs that just happen to have equal pay regs in place.
___

Ahhh… so you’re thinking outside Union Government jobs, it’s totally legal to pay Women less for the exact same job just because they are… Women?

#160 Sail Away on 02.08.21 at 1:12 pm

#151 Faron on 02.08.21 at 12:23 pm

Sail Away: “But Faron, the free market optimizes for productivity and thusly metes out the correct wage for each worker. Capitalism is blind blah blah blah.”

BS. The free market is a social construct subject to as much sexism as is present throughout society that, while better hidden these days and improved over yesteryear, is still a far far far cry from bringing equal pay for equal work.

———-

Haha. I’ve been blessed in my life with women who don’t settle for such pablum:

Mother- Advanced degree in education, superintendent of schools
MIL 1- owner/founder Vancouver law firm
MIL 2- MD, career as anesthesiologist Vic Genl
Mentor- founder Squamish real estate office 1990. Ready for retirement, but it’s hard when making $500k/quarter
SIL- founder/operator accounting firm Red Deer. All women accountants and exceptionally profitable

Go and pander to them. I double-dog dare you.

#161 Stone on 02.08.21 at 1:19 pm

#154 IHCTD9 on 02.08.21 at 12:34 pm
#147 BillyBob on 02.08.21 at 11:54 am

Nope, Captain is still captain (left seat, four bars). First Officer is what used to be called co-pilot (right seat, three bars).
___

If I were an Airline Captain, I would refer to my First Officer as “Number One”, and utter a “Make it so” here and there for good measure.

———

Don’t forget the most important part. “Engage”.

#162 jess on 02.08.21 at 1:20 pm

“We used to be a smarter society and a smarter country.”
To understand what is one needs to understand what was.
Take the technology of paper making and writing Egyptian ..cheap on papyrus (locally sourced )
Infectious were the words to roman’s—
As the scrolls were cheap
even the slave read/literacy spread..
recipes shared words
trading back and forth….
everyone jumps on the “bandwagon”
books shops increase libraries too
The Chinese recipe spills out onto the road
as a trader learns the secret
of mulberry stalks
bringing it home adjustments made
literacy spreads
and so on and so forth
and scooby doobie doobie
and then the middle ages comes
gets rid of plant based
uses animals skins
and no one can afford a book anymore (elite)
did you see that book ?
400 animals killed
books and the expensive colourings
too expensive for the few
the tech laborious
script on vellum doesn’t flow
like the fluidity of the brush
artform Chinese
literacy lost back and forth
back and forth

and scooby doobie doobie .

#163 the Jaguar on 02.08.21 at 1:27 pm

#147 BillyBob on 02.08.21 at 11:54 am
#130 crowdedelevatorfartz on 02.08.21 at 9:37 am#125 Billybob
==========================
Nope, Captain is still captain (left seat, four bars). First Officer is what used to be called co-pilot (right seat, three bars).
Just glorified bus drivers using science and expertise, I’ve heard.
+++
Never met a bus driver that could bring an airship down to safety with 61 passengers and 8 crew from 41,000 feet ( AC flight 143 ), but if I did I would tell him he was made out of the same stuff as Captain Ross, Bob Pearson, and BillyBob.

CEF: When was the last time you were on an airplane? The ‘in charge’ always says ” The Captain has turned off the seat belt sign, etc,……”

#164 Dr V on 02.08.21 at 1:33 pm

158 Faron

“Fewer workers means smaller economy.”

I’ll take one IHCTD9 vs 20 labourers with picks and shovels any day.

#165 Sail Away on 02.08.21 at 1:37 pm

#156 Sara on 02.08.21 at 12:37 pm

In my family, I (not hubby) is the investor.

———-

In my family, I is also the investor.

#166 Doug & Lynne Bennett on 02.08.21 at 1:42 pm

Deserves a delete

Agreed. Now deleted. – Garth

#167 IHCTD9 on 02.08.21 at 1:47 pm

#161 Stone on 02.08.21 at 1:19 pm
#154 IHCTD9 on 02.08.21 at 12:34 pm
#147 BillyBob on 02.08.21 at 11:54 am

Nope, Captain is still captain (left seat, four bars). First Officer is what used to be called co-pilot (right seat, three bars).
___

If I were an Airline Captain, I would refer to my First Officer as “Number One”, and utter a “Make it so” here and there for good measure.

———

Don’t forget the most important part. “Engage”.

_______

I can hear BB groaning, as he once more must endure various “Picardisms” due to his chosen profession, for the umpteen millionth time.

#168 jess on 02.08.21 at 1:53 pm

…”That research and investment would naturally come from ENERGY companies if people would let them prosper.

Which people?

a push -regulatory credits
research for vaccines
https://www.niaid.nih.gov/about/vrc

https://www.theatlantic.com/magazine/archive/2021/03/extreme-climate-change-history/617793/
https://report.nih.gov/funding/categorical-spending#/

#169 IHCTD9 on 02.08.21 at 1:53 pm

#165 Sail Away on 02.08.21 at 1:37 pm
#156 Sara on 02.08.21 at 12:37 pm

In my family, I (not hubby) is the investor.

———-

In my family, I is also the investor.
__

I is too!

Sara, this is happening to you because you must have corrected someone else’s spelling/grammar recently.

#170 Sail Away on 02.08.21 at 1:56 pm

#159 IHCTD9 on 02.08.21 at 12:51 pm
#150 Faron on 02.08.21 at 12:19 pm

Hmmm, unionized gov’t jobs that just happen to have equal pay regs in place.

————

Ahhh… so you’re thinking outside Union Government jobs, it’s totally legal to pay Women less for the exact same job just because they are… Women?

————

It’s true. Our standard employment contract has the following clause:

‘Female employees are paid a salary 30% less than male engineers for the exact same job, because they are female. This is non-negotiable.’

#171 Faron on 02.08.21 at 1:57 pm

#159 IHCTD9 on 02.08.21 at 12:51 pm

#150 Faron on 02.08.21 at 12:19 pm

Ahhh… so you’re thinking outside Union Government jobs, it’s totally legal to pay Women less for the exact same job just because they are… Women?

Don’t be an arse. Of course it’s not legal. In the private sector, the fox guards the henhouse as it were. In gov’t unions and gov’t scrutiny are strong forces that keep the pay much closer to equal. Keep living in your fantasy land though and supping off Jordan Petersen.

#172 BillyBob on 02.08.21 at 1:59 pm

#70 fishman on 02.07.21 at 6:43 pm
I’d like to bite Jaguar

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

Get in line.

Oh…uh. Wait. It occurs to me you may have missed a comma.

But still…

#173 BillyBob on 02.08.21 at 2:00 pm

#170 Faron on 02.08.21 at 1:57 pm
#159 IHCTD9 on 02.08.21 at 12:51 pm

#150 Faron on 02.08.21 at 12:19 pm

Ahhh… so you’re thinking outside Union Government jobs, it’s totally legal to pay Women less for the exact same job just because they are… Women?

Don’t be an arse. Of course it’s not legal. In the private sector, the fox guards the henhouse as it were. In gov’t unions and gov’t scrutiny are strong forces that keep the pay much closer to equal. Keep living in your fantasy land though and supping off Jordan Petersen.

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

Have you ever worked in the private sector?

Serious question.

#174 Faron on 02.08.21 at 2:04 pm

#160 Sail Away on 02.08.21 at 1:12 pm

#151 Faron on 02.08.21 at 12:23 pm

———-

Haha. I’ve been blessed in my life with women who don’t settle…

Ah, yes. As have I. I’m sure you are in close touch with the hundred million working women in North America and your slice of five professionals in the loop with a millionaire engineer represent a perfect cross section.

What I do when I can admit I don’t have first hand experience with things in representative volume is turn to facts and statistics. You do as well when consulting on projects I’m sure — hire out a professional to fill in voids in your knowledge. Or I should hope. The statistics bear out that women do not get equal pay for equal work in North America especially the US, but also here. They have every right to sue for such, but how many people are going to risk their job to do so? Very few. Women or men.

Clearly a hobby horse of your’n. Mah’ ladies made it, y’all ladies otta pull themmaselves up by their bootstraps and grow a pair.

#175 Faron on 02.08.21 at 2:06 pm

#173 BillyBob on 02.08.21 at 2:00 pm

#170 Faron on 02.08.21 at 1:57 pm
#159 IHCTD9 on 02.08.21 at 12:51 pm

#150 Faron on 02.08.21 at 12:19 pm

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

Have you ever worked in the private sector?

Of course I have

#176 Penny Henny on 02.08.21 at 2:18 pm

#155 Faron on 02.08.21 at 12:37 pm
#148 IHCTD9 on 02.08.21 at 11:55 am

“her potential mate is concerned. It is almost assuredly and evolutionary remnant still floating around in our DNA.”

Sorry IHTCD9, but that is archaic garbage not based in genetic reality or any real science or statistics. This is socialized in however subtly over the decades of women’s exposure to bulk media where this idea is ingrained because it benefits the status quo.
//////////

Who let out the crazies?

I am curious about one thing though Faron, other than your partner do you have any friends?

#177 IHCTD9 on 02.08.21 at 2:30 pm

#155 Faron on 02.08.21 at 12:37 pm
#148 IHCTD9 on 02.08.21 at 11:55 am

“her potential mate is concerned. It is almost assuredly and evolutionary remnant still floating around in our DNA.”

Sorry IHTCD9, but that is archaic garbage not based in genetic reality or any real science or statistics. This is socialized in however subtly over the decades of women’s exposure to bulk media where this idea is ingrained because it benefits the status quo.
___

No one studies Sexual and Mate Selection in Humans? Evolutionary Psychology (Social Sciences) isn’t real Science?

Yikes dude, I read about this stuff all the time, it started with some of Darwin’s ideas and how they affect Humans. It’s definitely not archaic garbage, people all over the world study this, right up to the present. It’s pretty interesting too, you should Google some up.

#178 IHCTD9 on 02.08.21 at 2:45 pm

#171 Faron on 02.08.21 at 1:57 pm
#159 IHCTD9 on 02.08.21 at 12:51 pm

#150 Faron on 02.08.21 at 12:19 pm

Ahhh… so you’re thinking outside Union Government jobs, it’s totally legal to pay Women less for the exact same job just because they are… Women?

Don’t be an arse. Of course it’s not legal. In the private sector, the fox guards the henhouse as it were. In gov’t unions and gov’t scrutiny are strong forces that keep the pay much closer to equal. Keep living in your fantasy land though and supping off Jordan Petersen.
____

Egad – you’re pretty touchy this aft LOL!

Ok homie, we agree then – it’s illegal.

Call the MOL.

End of conversation.

#179 IHCTD9 on 02.08.21 at 3:00 pm

#174 Faron on 02.08.21 at 2:04 pm

..women do not get equal pay for equal work
____

Why should they? I don’t get it. No one I know does either. Why should Women get equal pay for equal work when no one else does?

#180 Sail Away on 02.08.21 at 3:01 pm

#174 Faron on 02.08.21 at 2:04 pm

…I’m sure you are in close touch with the hundred million working women in North America and your slice of five professionals in the loop with a millionaire engineer represent a perfect cross section.

What I do when I can admit I don’t have first hand experience with things in representative volume is turn to facts and statistics. You do as well when consulting on projects I’m sure — hire out a professional to fill in voids in your knowledge. Or I should hope. The statistics bear out that women do not get equal pay for equal work in North America especially the US, but also here. They have every right to sue for such, but how many people are going to risk their job to do so? Very few. Women or men.

Clearly a hobby horse of your’n. Mah’ ladies made it, y’all ladies otta pull themmaselves up by their bootstraps and grow a pair.

——–

Sigh… so theatrical. Seems to be a defining characteristic of a certain subset.

I also saw no plastic when slowly sailing through the ‘GREAT PACIFIC GARBAGE PATCH’ for a week, so I researched the estimated total volume of plastic in the patch.

Turned out to be 80,000 tons (the research numbers, not mine), which equates to a cube 55 meters per side, or a very very very tiny landfill.

So… drop this cube into something as almost unimaginably vast as the Pacific Ocean…. and… let’s just say the reports of ocean death by plastic are premature.

#181 crowdedelevatorfartz on 02.08.21 at 3:07 pm

I was busy in the shop today.
Did I miss anything important?

#182 Cactus on 02.08.21 at 3:53 pm

Pls give us your take on the where oil/gas are headed. Tks n enjoy your blog v much

#183 Linda on 02.08.21 at 4:28 pm

#102 ‘Dr V’ – the difference between investing & pension deductions is that in general you have the choice to invest, whereas pension deductions are usually mandatory. Further, those who have no pension do not see a reduction in their annual RRSP contribution room. Pension members have the pension adjustment, which reduces their RRSP contribution room by the total employee paid pension deductions into their plan every year. This is meant to ‘level the playing field’. Also, there is at this point in time the preferential tax treatment of capital gains on investments. This lower rate is in recognition of the risks taken by investors & is meant to encourage investment. Investors can also write off capital losses against their taxes – something that pension contributors can’t do if their pension evaporates in a bankruptcy. An investor might also lose their investment during bankruptcy proceedings, though depending on the type of shares held they might still receive at least a partial payment of their investment.

#184 YvrOptimist on 02.09.21 at 1:21 am

Way too late to the party, I know…

But I have first-hand experience with women in very high levels of work – namely my wife and some of her associates.

All of the commentary here is about ‘equal pay for equal work’ which would be great if one was able to compare apples to apples.

Government jobs, and places where you have a job description and it is filled – those jobs are all paid the same, male or female.

…but get into a spot where opinions about ‘worth’ are given great weight – law firms, accounting firms – architecture, and watch the women receive the short end of the stick time and again.

Here are a couple of thoughts at to why: The old white guys are still in control and they want to keep it that way. It’s not a male/female argument, it’s a point of fact and it’s human nature. The major players might not a sexist bone in their body, but they want to protect themselves and their own.

And: Men are paid on expectations; women are paid on results. As in, “If we’re going to keep him we need to pay him a lot of money.” compared to, “We understand your argument as to why you should be paid more but we need to have more of an earning history in order to be sure that you’ll be able to maintain a high level of billing to rationalize that high salary.”

And if they complain or stand up to argue their point… They’re ‘difficult’ or ‘demanding’.

I have seen THAT with my own eyes.