The big lie

Shortly after the herd is dosed, it will get to vote.

A Thanksgiving election? If so, how appropriate. Justin, Our Pandemic Protector, will wish you to shower him with thankful ballots for having overseen the virus attack, which only crashed the economy for 15 months and killed 26,362 people. But it could have been worse. And we ended up being among the fastest-vaxed in the world (even though the provinces orchestrated that). So, politically, dropping the writ in September makes sense.

Of course, the cost of this slimy little pathogen was epic. The deficit was $19 billion in 2020 – which was twice what we were told it would be when T2 was elected. But last year that turned into $354 billion. Next year at least half that again. And the national debt will soon have doubled under a guy who’s only been in office since 2015. (It took 148 years to go $600 billion into hock and six to do it again. Yikes.) There is currently no timetable for getting back into balance. Never, probably.

So, here’s the PM’s plan. Vote. Majority. Budget. Big taxes.

Since the Libs have convinced young voters (now the largest cohort) that Indigenous issues, the environment and social justice matter more than money stuff, you can be sure election themes will be (a) more money for natives, families, green anything and (b) old, rich dudes can pay ‘a little more’ to finance it.

This is a winner in elections, since ‘the rich’ is anyone doing better than you. But does this make any sense?

“With each passing day a self-proclaimed ‘overeducated’ youthful generation reminds us that our financial ills would be solved if only we’d adhere to the left wing mating call ‘Tax the Rich’,” says blog dog Lee. “My question, has anyone done the math on that?  I did, a little, and even the small amount that I did indicates that the overeducated crowd may have missed some important classes.”

So Lee looked at US numbers, where the annual deficit has averaged $1 trillion. What if Washington just sucked off the entire net worth of the richest people? Like, took it all? Including the $180 billion or so that Bezos and Musk have in corporate wealth, plus Gates, Zukerberg, Buffett? Plus the entire the worth of the two dozen families?

Of course that would mean liquidating their holdings, including Amazon, Tesla, Facebook and all the stuff Berkshire Hathaway owns. Bezos alone employs more than one million people, so this action would like crash the American economy and hasten a deep recession. Maybe worse. China would love it. After all, the richest people don’t have billions in their bank accounts – this net worth resides (almost always) in business equity.

Anyway, the result: the annual deficit would be paid for 1.5 years. Then resume, but a lot bigger (since the rich people would be rich no more, and pay nothing). The national debt would be untouched. “Billionaires would need to be gutted wholesale just to break even for even a handful of years.  It goes without saying that the resulting depression would make the 1930’s look like a party,” says Lee, sensibly. “Conclusion:  There’s massive fiscal problems, and none of them have to do with the rich not paying their fair share.  100% are governments acting irresponsibly, they have indebted themselves multitudes beyond any amounts they could ever pay back.”

Now, we don’t have too many people like that in Canada, and there is no wealth tax. So let’s just assume we raise income taxes from the current 54% max to 100% for all the rich among us. What would that do?

Canada has just over 280,000 people (out of 28 million population 15+) who are 1%ers. The average income is $381,300 (and this includes our handful of billionaires, plus fabulously-enriched free blog owners). So if you took all their income – $108 billion a year – it would cover about 30% of the amount the government borrowed in 2021. Oops. And in doing so, every heart surgeon and CEO in the country would be emigrating.

So what if we just Hoovered the top .01% – the ultra-rich? There are 2,550 of them with an average income of $2.6 million. Would that make a difference?

Nah. The haul would be $6.6 billion. Enough to pay last year’s deficit for one week. So now consider the relative miniscule amounts that will be raised by increasing the capital gains tax inclusion rate from 50% to 75%, ending the favourable tax treatment of dividends, creating a new tax bracket for those earning over $400,000 or enacting TFSA account limits. It’s symbolism. Don’t fall for it.

Unless government spending actually crashes; unless then 40% of families who pay no net tax start contributing; unless we come to our sense and elect politicians who promise less; you’re pooched. Not the Boomers. Not the billionaires. The middle, and especially your kids. And their children.

The virus was bad. Worse beckons.

About the picture: “This is Lenny, just turned two years old,” writes Peter, in Russell, ON. “He sits with me faithfully as I enjoy your blog on a daily basis. He’s a real joy to us especially over the last year. Thought you’d like this photo.”

(If you have a canine to share with the pack, please let me know: [email protected] – Garth)

219 comments ↓

#1 2%-er on 07.05.21 at 2:05 pm

With respect, the billionaire class can be taxed beyond what they are, especially in the US, and this would not lead to a collapse of their industries. Companies prospered long before Reagan came in and gutted taxation. Extreme wealth (including share equity) is a real problem and is inherently exploitative. Bernie had it right to increase taxation on the rich (including wall street speculation) in order to fund health care and other valuable social programs. Taxation is not a zero sum game. It would not result in Amazon, Facebook, or WalMart shuttering. And if any 1% ers sought to flee Canada or the US because their taxes went up 5-10%, others would rise to fill those gaps.

I’m not a 1%-er but am probably a 2%-er, and I consistently vote to raise taxes for not only myself but other people who are fortunate from hard work, opportunity, or just plain luck (or sometimes all three).

#2 TurnerNation on 07.05.21 at 2:06 pm

crowededelevator. All depends what’s in store for us.
CV is not just a virus it’s an agenda:

.Singapore plans to stop counting Covid cases and treat virus ‘like the flu’ (the-sun.com)

…and how much we will go along with it:

https://dossier.substack.com/p/follow-the-science-deadly-delta-variant
“Don’t take it from me. Here’s the data straight from the U.K. government, which is tracking this mutation as sporting a case fatality rate of 0.1%.”

— Science in Kanada is different. Fat contracts. No-questions-asked Wartime spending.
Liberal Minister of Procurement says revealing hundreds of secret government contracts would threaten Canadian lives #cdnpoli (October 2020)
https://twitter.com/punditclass/status/1410962844032532482

— State of Science in Germany.

80 percent of positive corona rapid tests false positive
July 4, 2021 3:17 pm
https://www.hamburg.de/nachrichten-hamburg/15239202/80-prozent-der-positiven-corona-schnelltests-falsch-positiv/
Hamburg (dpa/lno) – The proportion of false positive results in coronavirus rapid tests in Hamburg has increased significantly in recent weeks. While in the first week of May it was already just over half, in the second week of June 80 percent of the people with a positive corona rapid test result were not infected, as can be seen from the Senate’s response to a small inquiry by the CDU parliamentary group.
————

— Once again ALL the old culture must be torn down. This is our Colour Revolution Comrade.

https://www.cbc.ca/news/canada/saskatoon/catholics-sunday-mass-boycott-saskatchewan-1.6088507
“Calls for Roman Catholics to boycott Sunday mass spread beyond Saskatchewan”

https://www.cbc.ca/news/canada/manitoba/statues-replace-manitoba-peguis-amc-1.6089018
“Manitoba First Nations leaders hope to work with province after Queen statues toppled’

…….
But why, what the end goal what comes next? Hint you will own nothing and be happy??

https://www.vancouverislandfreedaily.com/news/lawyer-large-scale-transfer-of-crown-land-to-first-nations-will-shock-b-c-s-system/
“Lawyer: Large-scale transfer of Crown land to First Nations will shock B.C.’s system
Jack Woodward says the next generation will see large chunks of B.C. move to Indigenous ownership”

https://www.campbellrivermirror.com/news/british-columbians-in-for-a-big-adjustment-with-the-settlement-of-aboriginal-title-aboriginal-rights-lawyer-says/?
The shift in ownership will be from what is normally called Crown ownership to Indigenous ownership, “Not for the entire province but…for fairly large chunks of it,” he said.

#3 Joe Schmore on 07.05.21 at 2:11 pm

Dem Libs will be all bluster around taxes…why follow up with a campaign promise? They have never before, so why start now? They will not eviscerate “old stock” Party members.

It will be comical to see how far JT and JS will have to go to outduel themselves on the talk of taxing the rich though.

Remember the “middle class” debacle?

Liberals are in full campaign mode…curious on how much tax money was spent on moderators for the local propaganda site (CBC)…they are in full force to muzzle any Anti-JT sentiment.

#4 Brian Ripley on 07.05.21 at 2:11 pm

I have my charts (4) of the latest Provincial Employment Earnings up with the latest data (April 2021):
http://www.chpc.biz/earnings.html

Asset prices have boomed after 12.3 years of ZIRP & NIRP policy but Employment Earnings will determine cash flow for most of us going forward.

Alberta still leads and are:
4% above Ontario​
8% above the national Canadian average
10% above BC and
14% above Quebec (no typo).

But employment earnings have dropped since their respective peaks:

Peak Date & Earnings Drop Since Their Respective Peaks

FEB 2021 -1.0% Canada
JAN 2021 -1.1% QC
MAY 2020 -1.2% BC
FEB 2021 -1.5% ON
APR 2020 -2.1% NB
MAY 2020 -2.6% AB
MAY 2020 -3.1% MB
MAY 2020 -4.7% SK
JUN 2020 -5.2% PEI
MAY 2020 -5.6% NFL
MAY 2020 -6.0% NS

#5 ElGatoNerodeYVR on 07.05.21 at 2:14 pm

Aaah numbers,as in bringing a knife to a gun fight won’t get you far.
The issue is not the math , the issue is that the 1% have absolutely not been paying their fare share due to loopholes.
Buffet himself (and I believe Elon as well) have clearly publicly said as much, their effective tax rate was under 10% while a poor schmuck like me pays 20% effective ( thank you RRSP).
Corporations are also not paying their fair share by moving their headquarters to low tax heavens ,hence the high net worth of the main shareholders.
The mainstream logic is that these individuals provide employment, the counter-argument is that so did the feudal lords in the Middle ages or the slave owners more recently, is that how how/where we want our society to regress to,because surely from a working person’s perspective it looks like that.
Let me be clear, this is not about the legality of it all ,it is about what the populus at large sees as an unfair advantage and the deck stacked against them.
Everytime this severe imbalance happened it lead to revolutions: French ,Bolsevich , Latin America a.s.o .
So yes ,the idea is that we should all pay according to our means ,a flat rate no deductibles will be a great start ,after which we can look at how we will be supporting the true needy .
Current “grab as much as you can and screw the others” is unsustainable.

Disclaimer: this is my personal opinion and others can disagree and I accept opposed points as view as part of a normal dialogue in a free and open society ( for now at least).

#6 Sail Away on 07.05.21 at 2:15 pm

Well, the Sail Away family has all logistics and funding in place for residence in either Canada or the US. If both countries implode, we’ll just have to buy a new sailboat (always wanted to try a catamaran!) and live as itinerant vagabonds. Could swing by to visit my peeps in Venezuela.

#7 crowdedelevatorfartz on 07.05.21 at 2:20 pm

Raise taxes as our glorious health care lineups will get worse and worse as more doctors retire, cut hours or leave…….
Free dope.
Universal Income..

Well done Liberals….the utopia si almost achieved.

#8 James on 07.05.21 at 2:40 pm

The irony in all this is that the people who are advocating for social justice are merely being selfish, doing self-promotion, etc. I know of a colleague who is a social justice warrior as they are wanting to climb up the ladder.

#9 RG on 07.05.21 at 2:40 pm

there is no wealth tax

This tiny aside should be the whole article.

In a country with a top tax rate of 53%, why should we also tax what remains as assets? – Garth

#10 All_Soup_No_Spoon on 07.05.21 at 2:41 pm

Personally, I would vote for Lenny!

Are the Feds thinking that MMT allows for all this? I am genuinely trying to understand what MMT is all about. It seems like old-school Keynesian theory which somehow doesn’t account for the fact of ‘leakage’ in the economy.

Perhaps the blog-dogs have some insights? (Almost wrote ‘incites’. Freudian slip)

#11 jess on 07.05.21 at 2:52 pm

math in terms of time

what is common term
Nine bucks, nine videos, one slice of pizza for a hungry man

https://www.dcreport.org/2021/07/02/trump-one-law-for-hungry-pizza-thiefs-another-for-me/

#12 SunShowers on 07.05.21 at 2:52 pm

MMT is here, boys.
Heck yea.

#13 Joseph R. on 07.05.21 at 2:56 pm

“Unless government spending actually crashes; unless then 40% of families who pay no net tax start contributing;”

The bottom half pay their share, both, in regressive taxes:

-GST
-HST/PST (Depending on the province)
-“Sin” taxes (tobacco and alcohol products)
-Gas taxes
-Carbon Taxes

And in wealth taxes:

Municipal Property tax
Land Transfer tax; and
School tax.

#14 SunShowers on 07.05.21 at 2:57 pm

“In a country with a top tax rate of 53%, why should we also tax what remains as assets? – Garth”

I agree, income taxes (under $400k/yr) should be slashed across the board, in exchange for a 100% capital gains inclusion rate, and a wealth tax.

Low income taxes reward work.
Special treatment for capital gains and no wealth tax reward idleness.

#15 NSNG on 07.05.21 at 2:57 pm

It has never been about taxes. It has always been about debt, overspending, and living within your means.

You can’t keep borrowing from ‘the future’ and not expect to ever have to pay it back. You can’t inflate your way to prosperity.

This is the lie the banking system doesn’t want you to focus on which is why they always have us arguing about raising taxes and cutting taxes (the Lib/Con donkey and carrot show). We are not even arguing in the right ballpark. The enemy, is over there!

Welcome to ‘the future’, people.

#16 Old gringo on 07.05.21 at 3:00 pm

Not sure that without a lot of pain any government will solve this.
What about a flat tax , so everyone pays their share.
Cut government by 50% they vote for this idiot anyway.
Bring back the death sentence and with the money saved spend on real Canadian issues.
Slash all existing government pension’s and benefits to match the working stiffs.
Approve the pipeline project’s and don’t worry about the spotted owls.
The little birds will move 30 feet over to nest.
Get the people living in tents up north where they are crying for workers no free handouts anymore etc etc
It really is doable

#17 My Body My Choice on 07.05.21 at 3:00 pm

I’m all in favour of taxing Bezos, Zuckerburg, Buffett, Gates, Dorsey at 90% to help pay down the US debt. They should be able to live on a couple million a year. Leave Elon Musk alone, he’s actually creating something of value. The others are just parasites.

Sometimes I believe Trudeau 2.0 the Boy Blunder WANTS to bankrupt this country. He’s certainly putting Canada’s finances on the path to financial ruin.

Oil hit $76/barrel today. Loads of fund for shareholders of SU, CVE, PPL and ENB and other O+G investors/workers. Not so fun for everyone else with higher gas prices and higher inflation on everything.

#18 Prince Polo on 07.05.21 at 3:01 pm

Math, schmath! Why would some calculations be sufficient to convince the overeducated wokesters that attacking the rich won’t work? These are the same people who think renters are losers for paying their landlord’s mortgage and that stealing flags is righteous. I look forward to tractor guy’s (IHCTD9) musings on this subject.

Signed,
-“loser” renter & geriatric milquetoast Millennial

#19 GI Jane on 07.05.21 at 3:01 pm

Boom-Boom & no echo

#20 JacqueShellacque on 07.05.21 at 3:01 pm

The ‘tax the rich’ crowd aren’t into fiscal policy, and couldn’t tell you what the deficit is even if it slapped them just under their tramp stamps. The goal is subversion, of a system that their sociology TAs, using opaque and eyewateringly boring philosophy, has taught them is the root of all that’s bad and needs to go. Anyone else seeing words like ‘systemic’ and ‘structrual’ and ‘inequities’ in the news more often these days, words that 2 or 3 years ago most people would’ve looked at you funny for using? The idea is revolution, and it’ll happen unless sensible people start speaking up, and doing so in ways that effectively counter so-called social justice ideology. It’s not too late now, but it will be soon.

#21 Ustabe on 07.05.21 at 3:04 pm

Ya, but…

Where or who is the replacement for T2 and the Liberals?

Historically there was a segment of the Progressive Conservatives and a segment of the Liberals that were, for all intent and purpose, indistinguishable one from the other.

They each informed their respective party and a bit of conservatism crept into the Liberals when they were in power while a bit of liberalism crept into the PC’s when they got the reins.

Today even a person who views themselves a soft right views liberals as commies, hates millennials and wants the return of the death penalty it seems.

No middle ground.

It would be easy if I was in charge, tax the churches, all of it. Tax the lotteries, start large infrastructure projects, the knock on effect puts dollars into local economies as well as federal coffers.

Stop pissing away money on the homeless, just house them and then work on their issues. Same with drug overdoses…they are overdosing because they buy drugs on the street, costing millions of dollars in healthcare from the ambulance to the emergency room to the ongoing social costs…just make a clinical pure supply of the drugs available. Most addicts age out of using around 35-40 years old, all the while working, starting families, paying taxes, stats from Portugal show.

Loads more solutions. One I bet would raise millions is a simple line on every single tax return…Help defeat Canada’s Covid Debt, enter your voluntary contribution on line 56.

First we need to elect politicians of all stripes with balls…or ovaries as the case might be.

#22 You have a point on 07.05.21 at 3:05 pm

#1 2%-er on 07.05.21 at 2:05 pm

Sure, the wealthy could always be taxed more, it’s just not going to make any kind of dent in the deficit/debt is all, even if you took every last cent from them.

#23 jess on 07.05.21 at 3:07 pm

“proctors”

“A STUDENT IN 6 MINUTES HAD 776 HEAD AND EYE MOVEMENTS,

– uses gaze-detection, face-detection and computer-monitoring software to flag students for any “abnormal” head movement, mouse movement, eye wandering, computer window resizing, tab opening, scrolling, clicking, typing, and copies and pastes. A student can be flagged for finishing the test too quickly, or too slowly, clicking too much, or not enough.

https://www.washingtonpost.com/technology/2020/11/12/test-monitoring-student-revolt/

#24 VGRO and chill on 07.05.21 at 3:08 pm

“Since the Libs have convinced young voters (now the largest cohort) that Indigenous issues, the environment and social justice matter more than money stuff,”

You can’t have a functioning economy without a functioning environment.

Young people care about environmental issues because they have got a lot longer to live on this planet than you do, Garth.

#25 You have a point on 07.05.21 at 3:08 pm

Ps,
Oh. M. G! Lenny, those ears! I’m in love.

#26 Paul C Deck on 07.05.21 at 3:12 pm

What if they let inflation rise, thereby devaluing the worth of the amount they owe?

#27 Joseph R. on 07.05.21 at 3:16 pm

ERRATA: Land Transfer tax: they do go up based on the value of the municipal assessment of a house but it are dependant on a transaction.

As such, it is not a wealth tax

#28 Brian Ripley on 07.05.21 at 3:19 pm

“…a flat rate no deductibles will be a great start… #5 ElGatoNerodeYVR”

Thank you for the post. Canadian tax reform would indeed solve a lot of problems.

According to the Automated Tax Payment model http://www.chpc.biz/uploads/9/7/9/5/9795010/taxation_for_the_21st_century.pdf

Here is the author’s last paragraph in his Summary & Conclusion of the 41 page PDF link study above:
​​

“Several normative principles have guided actual tax reform policies. Most important among these are simplicity, equity, efficiency, and reduced costs of administration and compliance. To achieve these goals, politically successful tax reforms have incrementally restored the eroding income tax base by eliminating many loopholes and deductions and have lowered tax rates. Little progress has been achieved in reducing costs of administration, compliance and evasion. The state’s revenue collection system remains a hodgepodge of individual and corporate income taxes; consumption and excise taxes; tariffs and inheritance taxes. No single coherent conceptual framework organizes the state’s overall revenue collection function. The APT tax system seeks to provide such a framework by extending the logic of normative tax principles to all available tax instruments. The APT tax encompasses all prior taxes and subsumes them in the rubric of a singular tax structure. Revenue neutrality, base broadening, rate reduction, simplicity, transparency, equity, allocative efficiency and minimization of administrative and compliance costs are the principles that have guided the design of this apt new tax system. ” Edgar L. Feige, Professor of Economic Emeritus University of Wisconsin-Madison.

#29 Undecided voter on 07.05.21 at 3:20 pm

I cannot wait to see how Liberals get majority with oh say 34.7% of the votes. Democracy at work boys and girls.

I wonder how that commercial will look remaining us of the 30-days of Christmas in March, when Justin would come out each day and hand out gifts to one and all each and every day. 81 National addresses, and I missed the one where Justin was giving out PS5s!

On another note, can someone explain to me why every time I see Justin in a photo or a article I get the heebie jeebies? I really do. I now associate his image with lack of trustworthiness first and foremost.

My brain shuts down the minute his image comes on – as if it knows – don’t try process these nonsensical statements or retain this empty doublespeak – it’s meaningless. All meaningless.

#30 alexinvestor on 07.05.21 at 3:26 pm

Eventually overspending will catch up to the Canadian dollar (unless oil goes to 150). Everyone will have jobs but have to buy local. Fun times.

#31 Millennial Realist on 07.05.21 at 3:32 pm

Correct, Garth. Private ‘wealth’ is about to be gutted, starting with the richest.

(The only real ‘wealth’ is family, social connection, health and the environment, btw)

The time of reckoning for the crazy, unbalanced, distorted economy we have built over the last fifty years is now upon us. Stupidly, the generations after WWII forgot all of the powerful Post-War lessons of Eisenhower and others like him. Screw the ordinary citizens, let’s put money in the pockets of the few. That’s been our reality since the 1970s, and wages have barely increased at all since then.

To All the Paleo Boomers:

Be part of the change.

Or be run over by it.

(Read Garth’s words and look over your shoulder – the train is barrelling right at you at 100mph. This won’t be pretty)

#32 Dogman01 on 07.05.21 at 3:32 pm

Ok – so Billions spent, did any of it go to new hospitals or new capacity, like a Drug Manufacturing capability. Was any of it investments that have any value? Are the Hospitals now in better shape with more equipment, staff etc? Are the Old Age homes able to do things better with more regulation and oversight?
Should we not have a few new Hospitals built to show for all this money spent.

Are we going to have better oversight of Old Age Homes? (considering how much our society obviously values the elderly – sarcasm)
Are we going to have a strategy and increase our self-sufficiency in manufacturing so we can provide ourselves the basics when the world is in its next emergency?

NOPE – we have already moved onto the next superficial cause engaging the emotional chattering grasshoppers of our society.

Looks like we can’t afford our search and rescue Helicopters now…..doubt we see replacements for the F18
https://www.cbc.ca/news/politics/ch-149-cormorant-helicopters-search-rescue-1.6090353

The PRC’s 100 year Marathon just got easier. They will “bury us”.

#33 baloney Sandwitch on 07.05.21 at 3:40 pm

Justin is too smart to soak the rich, his strategy would be to slowly boil the rich (like boil the frog). Watch for top rates to edge up to 60% + cap gains + more money for enforcement, user-fees for everything.

#34 Woke up this morning... on 07.05.21 at 3:40 pm

#2 TurnerNation

Why did you cut off that Humburg.de article so soon TN?

>>>>
In the weeks in between, the proportion of false-positive results determined by the PCR test climbed from 52 to 69 and 71 to 75 percent.

I mean…what the actual fudgesicle?!?!?

PCR is returning 70% false-positives?!?!?!

#35 mike from mtl on 07.05.21 at 3:41 pm

You’re right however, as much as I hate it T2 stands a strong chance at reelection.

Most Canadians are a bunch of weenies so T2 and the free ‘stuff’ party match well. Having zero opposition and blank cheque for 1.5+ years was a godsend to them.

#36 The Other Keith in Calgary on 07.05.21 at 3:43 pm

JT saying that CERB didn’t need to be paid back was stupid. The government should have said from the start that CERB was a loan to help people through the pandemic, and would need to be paid back. Even now, they could change policy and require it to be repaid. (After all, the government of the day abruptly changed policy on trusts.) The government knows who got how much CERB. Send out a letter saying that total is due, and can be repaid voluntarily at a low but slowly growing interest rate. Or they don’t get an income tax refund, or be able to claim other government benefits till it’s paid off. Start investigating the fraudulent claims and hammer them.

#37 Jeff on 07.05.21 at 3:48 pm

All deficit will vanish when Hyperinflation will hit in. This is pretty much the plan to repay the debt. Repay the debt with monopoly money which worth nothing.

Debt will be “repaid” by bonds and GIC owners.

This is not a matter of if, but when.

#38 Love_The_Cottage on 07.05.21 at 3:52 pm

Since the Libs have convinced young voters … that Indigenous issues, the environment and social justice matter more than money stuff
_________
Perhaps it’s young voters beliefs and the Liberals has simply listened.

#39 Stoph on 07.05.21 at 3:58 pm

Oh great. Trudeau is spending $420M to phase out coal for steelmaking – not sure how they’re going to make steel without coal. As far as I know the tech isn’t there yet. I could support Trudeau spending money on steel making R&D that reduces CO2 emissions, but not this.

As is typical these days, the article is lacking in detail.
https://globalnews.ca/news/8003916/justin-trudeau-green-energy-funding/

#40 Mandy Magnetta on 07.05.21 at 3:59 pm

A 1% point increase in interest rates adds $10 billion a year just in annual interest and this is simple interest not compound interest. This is on the $1 trillion debt Canada has and keeps growing fast.

As we all know, as interest rates go higher compounding interest matters alot on large numbers billions, trillions. A 4% compound rate versus 5% compound rate over 30 years is 107.885% more compound interest. So using $1 trillion that is $1.0785 trillion more over 30 years for example.

Just the new interest is $36.25 billion not even including the interest on new government spending and the annual interest on the existing $1 trillion Canada, federal debt. This is also not including other government debt, government agencies from provinces, municipal, crown corporations etc.

We all know that government spending under Liberal, NDP are always increasing government spending, welfare, socialist programs, benefits and new, higher taxes, fees, pension contributions always falls short covering the new costs to government, taxpayers. It just looks to me that they are purposely destroying the country by high deficits, high debts, wasteful government spending and do not care they are doing lying through their teeth.

#41 S.O on 07.05.21 at 4:04 pm

In the US roughy 20 percent of the top earners pay over 45 percent of the taxes while the poor and low income pay roughly 4 percent but requiring more of the governments social services. I would assume its similar in Canada

#42 greyhound on 07.05.21 at 4:06 pm

Unless government spending actually crashes; unless then 40% of families who pay no net tax start contributing; unless we come to our sense and elect politicians who promise less; you’re pooched.

Yup. Likely storms are a-comin’ — the always have in the past. One day either the currency or the bond market or both are gonna go for a bit of an unexpected ride…

#43 truefacts on 07.05.21 at 4:07 pm

@ 2%-er…

“…I consistently vote to raise taxes for not only myself but other people…”
_______________________________________

Why? Governments waste money.
Singapore has NO resources – they should be dirt poor.
But GDP/capita(65K) is HIGHER than Canada (46K).
A LOT wealthier BECAUSE they have LOW taxes.

True democracy is letting people vote with their own dollars – not other people’s dollars!

#44 Frank on 07.05.21 at 4:15 pm

The black market is the biggest enemy to the tax coffers. Tons of people collecting government benefits ; while working under the table. If T2 would do something as simple as allow homeowners to write off their home renovations; then noboby would pay their plumbers cash !

Ah never mind; homeowners are rich and we can’t do anything to help them … let’s chop the TFSA again instead; or better yet ; let’s piss off the corporations that hire millions of tax paying citizens ….dog help us

#45 Henry on 07.05.21 at 4:16 pm

Yes things change.
As we live abroad, had to visit the Consulate, prior call was some 8 years ago.
Have good visual memory; virtually certain this below is 100% correct.
Then: enter the hall, two Canadian flags, one left, one right off centre. Now: Canadian flag on the left, a UN blue one on the right.
Cursory look across at reception area. Then: Queen; below, PM. Now: Queen and PM next to each other same height.
Just saying.
Same lame service though.

#46 The West on 07.05.21 at 4:16 pm

Your entry today is apt.

The plebes does not understand that the destruction of incentive is the destruction of ambition.

It can only be said so many times in so many different ways. If you destroy incentive to make life better society hangs onto the anchor as things get worse.

Equality of opportunity is not the same as equality of outcome.

#47 Dolce Vita on 07.05.21 at 4:20 pm

As in the past and as it will be in the future, excessive Gov debt never ends well.

The time to pay the piper will come soon enough for Canada once the “we defeated Covid with European vaccine hooplah” is over.

Enjoy the lull.

#48 Cici on 07.05.21 at 4:21 pm

#21 Ustabe

Good ideas in theory, but way too simplistic to work in real life.

First, regarding tax churches “all of it”: churches are dying out, not enough young people in their congregations and not enough money to bring in huge amounts of tax revenue. All the churches have is real estate and land, which the Government will probably confiscate soon and hand over to the “Indigenous”. The only reason I’ve put Indigenous in quotes is because they probably won’t be the real benefactors of this land. Anytime you have large areas of land that isn’t under federal or provincial jurisdiction, who do you think moves in and doesn’t pay taxes:

https://www.journaldemontreal.com/2021/04/12/projet-de-casino-lie-aux-hells-et-a-la-mafia

And as for lotteries paying taxes:

https://www.cbc.ca/news/canada/british-columbia/lottery-ceo-testimony-1.5892250#:~:text=CBC%20News%20Loaded-,B.C.%20Lottery%20Corporation%20CEO%20'blown%20away'%20by%20police%20report%20of,of%20an%20organized%20crime%20threat.

https://www.journaldequebec.com/2021/04/07/loto-quebec-se-dit-impuissante-face-au-crime-organise

Oh, and as for providing free, pure drugs to addicts. Do you think the above-mentioned groups would ever allow that to happen?

Regardless of who wins the next Federal election, expect only lip service and empty promises from all of them.

#49 G on 07.05.21 at 4:23 pm

All blog dog! re: the flag stolen from Garth’s building.

Can we all ask them nicely that Garth be sent a new flag to replace the one that was stolen, here the link,

https://www.tpsgc-pwgsc.gc.ca/citeparlementaire-parliamentaryprecinct/decouvrez-discover/drapeaux-demander-flags-request-eng.html

#50 Sarah on 07.05.21 at 4:24 pm

Joseph R, another wealth tax is the 1% annual empty homes tax in Toronto and 3% annual empty homes tax in Vancouver. I bet there are other cities in Canada too that already have a similar annual empty homes tax.

Also, not big yet but watch out like what about utility fees and charges like garbage taxes, fees, water fees that if not paid are attached to your house with high interest compounding 1.25% per month. These could easily add up to tens of thousands in a few years if a large house and family live in it.

#51 Dolce Vita on 07.05.21 at 4:31 pm

Hate to tell you this Canada, but you are fast becoming a joke internationally.

European coverage of Catholic Churches being burned down and Statues of Queens being toppled making the headlines in the UK, Italia, Germany, France, etc.

A nation of thugs and mob rule by acquiescence.

#52 FriedEggs on 07.05.21 at 4:31 pm

You’ll own nothing and be happy.

#53 kommykim on 07.05.21 at 4:32 pm

RE: #6 Sail Away on 07.05.21 at 2:15 pm
Well, the Sail Away family has all logistics and funding in place for residence in either Canada or the US. If both countries implode, we’ll just have to buy a new sailboat (always wanted to try a catamaran!) and live as itinerant vagabonds. Could swing by to visit my peeps in Venezuela.

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

Having ridden out my share of hurricanes in a 37ft monohull sailboat, I’d never want to try the same in a catamaran. Sure, they’re fast and more stable in moderate seas, but once they flip that’s it. For extreme open ocean conditions, you really can’t beat a self righting monohull.

#54 Annek on 07.05.21 at 4:43 pm

Does anyone know how significant the underground economy is in terms of evading taxes? I am referring to those people who work for cash, such as in construction, home renovations, cleaners, babysitters ,house flippers and other trades people who will discount for cash.
I have visited multi million dollar homes where the owners were construction workers, renovators who worked the barter system with their friends and were able to build massive homes , all with the underground economy.
Is the government ever able to catch these tax evaders?

#55 Joseph R. on 07.05.21 at 4:47 pm

#10 All_Soup_No_Spoon on 07.05.21 at 2:41 pm
Personally, I would vote for Lenny!

Are the Feds thinking that MMT allows for all this? I am genuinely trying to understand what MMT is all about. It seems like old-school Keynesian theory which somehow doesn’t account for the fact of ‘leakage’ in the economy.

Perhaps the blog-dogs have some insights? (Almost wrote ‘incites’. Freudian slip)

—————————————————————-

MMT in a nutshell: Federal government prints as much as it seems necessary. Control the money supply through taxation to prevent runaway inflation.

How did you deduct it as Keynesian?

Keynes believed unemployment as the worst of society’s ill. The free market has no self-balancing mechanism to maintain fill employment. The government must keep the “idle hands” busy through big infrastructure projects; the Hoover dam on the Colorado river is a Keynesian project.

In Keynesian economics, labour is the measure of an effective economic output policy; how much the average employee is paid by the hour is how you measure your economic output.

MMT is more alike Friedman’s monetarism since it measures the money supply to determine the economic output policy.

#56 Linda on 07.05.21 at 4:48 pm

I too added up ‘the rich’ in Canada to see whether confiscating their assets would ‘save’ the masses from the steaming debt pile. Based on the numbers provided by Forbes & other such who publish estimated wealth, the total of the top would pay off the provincial debt of Ontario & most of B.C’s – but not all of it. Not a dime towards any of the other provincial or territory debt; nothing for the federal debt either. So much for that bright idea, because of course those who confiscate would be besieged with legions who would have better ways to use the assets confiscated.

As I mentioned, the ultra-rich do not have net worth in the bank, but in businesses. To get it out and confiscate it through tax would means the end of those enterprises and a loss of income by legions of people. – Garth

#57 S.Bby on 07.05.21 at 4:52 pm

We need to properly tax real estate gains on principal residences there is billions being left on the table with this. Also tax secondary suite rental income there is billions there too.

#58 Anna on 07.05.21 at 4:56 pm

Bring in a wealth tax. Keep it low (ie 0.25%) and have it hit the spend reasonable value of net worth in excess of $250k per adult. Include the net worth of citizens when calculating benefits (ie. CCB) so it doesn’t go to families earning little in working income but sitting on a trust fund, paid off house, FIREing etc. Cut back the CCB to families earning over $150k per year or with $1M+ in assets. Introduce a higher inclusion rate on capital gains. Hike the GST to 15%. All little but would slowly chip away at the debt without hurting people’s incentive to work.

None of that would reduce a penny indebt since the government federally is still adding to the pile at the rate of over $10 billion a month. But it would certainly slow the economy and cost jobs. Why can’t the spending be reduced, instead of the revenues raised? – Garth

#59 Annek on 07.05.21 at 4:59 pm

Undecided voter on 07.05.21 at 3:20 pm
I cannot wait to see how Liberals get majority with oh say 34.7% of the votes. Democracy at work boys and girls.

I wonder how that commercial will look remaining us of the 30-days of Christmas in March, when Justin would come out each day and hand out gifts to one and all each and every day. 81 National addresses, and I missed the one where Justin was giving out PS5s!

On another note, can someone explain to me why every time I see Justin in a photo or a article I get the heebie jeebies? I really do. I now associate his image with lack of trustworthiness first and foremost.

My brain shuts down the minute his image comes on – as if it knows – don’t try process these nonsensical statements or retain this empty doublespeak – it’s meaningless. All meaningless.
—————
I agree!
In addition, as soon as he opens his mouth, I cringe and shut off the news. As a drama teacher, was he not able to address his speech impediment issues? As well, I notice that he cannot address challenges from the opposition without reading canned texts.
Yet people will vote for him…

#60 Sail Away on 07.05.21 at 5:02 pm

#48 Cici on 07.05.21 at 4:21 pm

Oh, and as for providing free, pure drugs to addicts. Do you think the above-mentioned groups would ever allow that to happen?

———

Harvard’s Gene Heyman shows that most addicts quit because addiction is a choice.

https://www.youtube.com/watch?v=jh0ZAUxuQSo

Why would taxpayers ever fund someone’s horrible choice?

#61 Diamond Dog on 07.05.21 at 5:10 pm

Well, I’ll come out and say it. Trudeau needs to go.

I was a Lib supporter, at least vocally, since the 90’s. last year was the year all that changed. A $354 billion dollar deficit wasn’t abysmal, it was an abhorrent abomination. That’s the kind of deficit that kills national treasuries. The surest way to sink a nation is through its treasury. As such, I don’t care if its a pandemic as the cause, Trudeau has to go.

This deficit should have been half that. We gave away 12 figures to Canadians who didn’t need it, clearly. We gave away a crazy scale of loans and grants to individuals and corps who didn’t need the money. Its as ugly as buying votes with borrowed money. The WE scandal had a bad smell to it, but the sheer size of this deficit was where I jumped off the train.

Provincial government success/failure favors federal parties. Support for Trudeau nationally is there because of a lack of provincial support for Conservatives provincially. BC has gone NDP, Con Kenney in Alta has lost his shine, Sask is strong Conservative but has a small seat count, Manitoba Conservatives aren’t so popular anymore, Con Doug Ford in Ontario is unpopular lending to major Lib support provincially and federally, Quebec is split with Libs and the rest and Atlantic provinces have been traditionally Lib.

https://thecanadaguide.com/data/provincial-premiers/

https://www.680news.com/2021/06/23/doug-ford-approval-rating-maru/

Vote rich Ontario is the kingmaker. For the Conservatives to do well federally, Conservatives have to do well provincially and that’s not happening. Ford is 40% popular, while Kenney & Paliser are at 33%. These not so popular leaders are bleeding support from Federal Conservatives and I dare say, Federal Conservatives aren’t doing themselves any favors by being out of step with climate change.

https://omny.fm/shows/charles-adler-tonight/conservative-party-votes-against-recognizing-clima

I’m getting the feeling that Erin O’ Toole recognizes this? He’s tried to change the climate change denial within the party but during the last federal party convention, support was 52% in favor of denying man made climate change as a problem. How does that square with BC having gone through a heat wave that didn’t tickle but bludgeoned previous all time record highs across the province? Today, the B.C. population of near 4.7 million people are rightly so, alarmed from climate change.

https://www.theweathernetwork.com/ca/news/article/british-columbia-village-scores-hottest-temperature-hat-trick-no-canadian-wants

Covid took the lives of 1750 odd people, sure it left a palpable mark. The heatwave BC just had took 719 souls over 5 days. Which is worse and what should we be saving blowout government spending sprees for:

https://bc.ctvnews.ca/sudden-deaths-recorded-during-b-c-s-heat-wave-up-to-719-coroners-say-1.5494848

Conservatives are wrong footed on this issue and if they don’t correct themselves for being “in error”, federal conservatives may not be relevant until they right their ship.

#62 Habitt on 07.05.21 at 5:15 pm

31 millennial realist There is always change coming and it won’t be pretty for your ilk, comrade. Do keep a good supply of crying towels about. Child

#63 jess on 07.05.21 at 5:17 pm

https://www.standard.co.uk/news/london/azerbaijan-laundromat-corrupt-national-crime-agency-b339938.html

https://www.occrp.org/en/azerbaijanilaundromat/jet-setting-dj-and-cousin-of-azerbaijans-president-aliyev-accused-of-receiving-millions-in-suspicious-funds

#64 Ponzius Pilatus on 07.05.21 at 5:19 pm

#51 Dolce Vita on 07.05.21 at 4:31 pm
Hate to tell you this Canada, but you are fast becoming a joke internationally.

European coverage of Catholic Churches being burned down and Statues of Queens being toppled making the headlines in the UK, Italia, Germany, France, etc.

A nation of thugs and mob rule by acquiescence.
—————-
Exaggerating is usual.
You’re not the only one reading/watching European News.
Europe and especially your precious Italy, are having a lot of problems on their own.
No country is perfect.
Stick to commenting on the EURO Soccer Tournament.

#65 kommykim on 07.05.21 at 5:24 pm

RE: #24 VGRO and chill on 07.05.21 at 3:08 pm
Young people care about environmental issues because they have got a lot longer to live on this planet than you do, Garth.

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

Something to think about: A young person today would have to emit HALF the CO2 and consume HALF of what a boomer did in the sixties just to break even on the damage they do to the environment. And why is that you ask? It’s because we have twice the population today vs 1960…

#66 Chip on 07.05.21 at 5:27 pm

Oh look!

Kurt Browning – yeah that skater dude – is shilling reverse mortgages on TV!

It’s a short pirouette from skating on ice to skating in thin ice….of debt.

#67 Drew on 07.05.21 at 5:29 pm

Of course they don’t do the math; they’re idiots. I say this as someone older moister age. Just by listening to them you can tell they think ‘the rich’ live on a pile of Scrooge McDuck money.

Same with those ‘rich guy worth $x billion more today’ stories.

Every Canadian party is terrible, and none of the big 3 will fix things.

#58 Anna, a 250K net worth is nothing, and will be less in 20 years

#68 Ponzius Pilatus on 07.05.21 at 5:29 pm

I have to admit that that I was not too crazy when JT came into office first.
But I think he’s done a good job with the pandemic, and has presented Canada well internationally and at the G7.
Just like Biden, he’s not a great speaker, but neither is Merkel.
They say Hitler was a great speaker, and Trump could get the crowd going.
I just don’t think that’s the Canadian Way.
Now he’s got his beard shaven, still a full set of hair, looks even younger, fit.
And new sets of socks.
Ready to rock.

#69 Free Investment Advice - Worth Every Penny! on 07.05.21 at 5:32 pm

I know!

How about a tax of $5000 on every Real Estate agent!?

We’ll be trillionaires!

#70 cramar on 07.05.21 at 5:33 pm

Now that Justin Trudeau has a hair cut and is clean shaven he looks young and immature. His real self. I liked him a lot better with longer curls and real nice beard. He looked way more mature and wiser. More hope for him. Now he is just his former self. Image is everything in politics.

#71 Geppetto on 07.05.21 at 5:35 pm

#59 Annek: and yet, yes, people will continue to vote for him. I’m no fan, but have you gotten a load of the alternatives? They make me want to reach for the Gravol, frankly.

#72 You know Val on 07.05.21 at 5:36 pm

Hi Garth, if the 40% were to pay say $1000 each on tax annually, how much would that add to helping bring down the deficit?

#73 Quintilian on 07.05.21 at 5:37 pm

Why can’t the spending be reduced, instead of the revenues raised? – Garth

Outdated dogma.
What would you cut?

#74 Salutations Sally on 07.05.21 at 5:39 pm

#10 All_Soup_No_Spoon on 07.05.21 at 2:41 pm
Personally, I would vote for Lenny!….

Lenny gets my vote too! Lenny looks organized, kind, and trustworthy.

#75 Millenial failure on 07.05.21 at 5:40 pm

#31 Millennial Realist on 07.05.21 at 3:32 pm

—————————————————-

Tried working recently?

Can’t for gen Z or whatever to tell you to go with the change or be run over by it.

You’re like the antithesis of sail away.
(not a compliment for either)

#76 jimmy zhao on 07.05.21 at 5:42 pm

Go after the people named in the so-called ‘Panama Papers’

#77 Pasha on 07.05.21 at 5:46 pm

None of that would reduce a penny in debt since the government federally is still adding to the pile at the rate of over $10 billion a month. But it would certainly slow the economy and cost jobs – Garth

Oh, okay, we won’t bother with that then.

#78 tkid on 07.05.21 at 5:47 pm

Most of the countries in Europe attempted wealth taxes in the past 100 years. The results hurt their economies after the rich fled to more welcoming pastures. And for all the resulting pain, hardly any extra money was raised.

If you start confiscating what I’ve worked very hard for, I have no other option but to leave. This country will hit the wall a la Venezuela if the spending isn’t reined in, and you will have no other option but to leave.

#79 Aftred on 07.05.21 at 5:54 pm

#51 Dolce Vita on 07.05.21 at 4:31 pm

Yup. Heard from my cousins down in Italy about this:

https://www.msn.com/en-ca/news/canada/head-of-bc-civil-liberties-group-under-fire-over-burn-it-all-down-tweet/

Asking how a muslim can get away with encouraging churches to be burned in a western country. Had no explanation really.

International laughingstock about to hand Trudeau more seats than Mulrooney dreamed of.

Putin just laughs

Xi just laughs

Biden just laughs

And “Canada” cheers it on

#80 Mean Paleo Boomer Guy on 07.05.21 at 5:55 pm

The tax and spend fanatics just don’t understand human nature, which is why their economic systems always fail.

If you tax something beyond what people find reasonable, then the result is less of the thing taxed, whether that be wealth or income.

How does that work in real life? In oh so many ways.

Wealth can easily be transferred to more friendly nations. Smart tax lawyers will always find loopholes.

But there are other ways, less obvious but equally damaging to an over taxed economy. Instead of creating wealth, people decide it’s not worth it, and they spend it instead.

That 55 foot cabin cruiser they always wanted, but would never dream of dropping their hard earned $2M on? Well, why not? If I don’t spend it, they will take it from me in taxes.

Tax the cabin cruiser you say? Of course, but the cabin cruiser drops in value extremely rapidly, and that $2M is very quickly a few hundred thousand. Take that, taxman.

Of course the tax and spenders will deny that people will act this way, or they will cry ‘selfish’ as the economy craters. They won’t learn.

For 70 years tax and spend has not only not worked but in fact created the wealth inequalities we have. And they want to double down.

Fine. See you in Singapore, Croatia or Lake Como. I’ll be on my dream boat. Spending it all. It’ll be a Grand Banks 54. I think I’ll call it ‘Paleo Boomer’.

I almost want to thank the tax and spenders, I never would have splurged like this otherwise. I would have invested it. Lent to someone who needed it. Built a new home, employing locals, buying materials.

Oh well, I don’t make the rules, I just play the game. And the game is self preservation, whether you like it or not.

#81 Doug t on 07.05.21 at 6:08 pm

This country is flushing itself down the drain on a weekly basis

#82 Garth's Son Drake on 07.05.21 at 6:12 pm

So, how long do we have Justin for?

#83 cto on 07.05.21 at 6:19 pm

taxes, shmaxes!!!!

Come on Garth!??? it 2021!
working and taxes are outdated old-school has-been stuff.
there’s a new invention…have you heard of it?
MMT!
More likely Trudeau is going to cut taxes and of course,… print wayyyy more money and the kids are lovin it!!!!

#84 Barb on 07.05.21 at 6:24 pm

If T2 (magically) reads today’s blog post, he won’t even run in the next election.

Anybody got a bucket of tar and a bag of feathers in their basement?
Asking for a friend.

#85 Keith on 07.05.21 at 6:30 pm

@ #72 You know Val

The problem with the 40% statistic is that it includes the entire population, including children and Grannies, in order to inflate the percentage for dramatic effect. Even in low wage, low salary Canada most workers pay some income tax.

Taking the number at its dubious word, with the Canadian population at 37 million, 40 percent paying $1000 more in federal tax would increase revenue by 14.2 billion. The whole population of Canada, 37 billion.

Soaking the poorest Canadians for a grand, would not cover the pre covid deficit, and come nowhere near the Great Reset dreams of Trudeau and company.

You could take half the population, and soak them for an average of $2000 each. That would produce an additional $37 billion in revenue. So a small amount of money per person can go quite far. Of course, the $2000 per person would have to be done on a progressive basis, and tax increases are a non starter with far too many people.

There would need to be a sea change in government spending before I would stump up the cash, but when Canada hit the fiscal wall in the nineties, Chretien and Martin killed off an $80 billion deficit in three years with a much small GDP. Government only takes this kind of action when forced to, because outside of a crisis there aren’t enough deficit hawks to get elected. The no tax increases ever no way no how people have been joined by a young cohort that see a bigger role for government to address what the market cannot or will not do. There’s much more financial pain coming.

The 40% number does not include children, of course. It is percentage of households who pay less in tax than the direct transfers received from the federal government. – Garth

#86 Big Bucks on 07.05.21 at 6:30 pm

Some kind of wealth tax is coming for sure but the wealthy can afford the best accountants(plus the wealthy are running the country)so like always the middle class and “those hoping to join it” will pay more.More and more of the young will just come to the realizaton that loafing may not get the big house(or any house)but the taxes are basically nill and the stress is a lot less.The middle class will really take it on the chin(chasing a dream they never have time to enjoy) especially if a guaranteed income is on the docket.

#87 Chalkie on 07.05.21 at 6:31 pm

The caption Garth is, if you took all the wealth from the rich and paid off the Government’s books to zero and gave everyone in the country a 5 or 10 Million dollar cheque, the Government soon would run deficits again and the majority of people would have no concept on how to spend or invest their windfall, so the Billionaires would eventually just take it all back again.
Good for the Billionaires, they risk everything, great business knowledge is power, just wish we had a few off them writing the Government cheques, at least they know the value of hard earned dollars.

#88 Longterm on 07.05.21 at 6:37 pm

Well cutting spending is only a fraction of the equation.

We are also liquidating the biosphere and the welfare of the young and future generations for the sake of economic growth now and of course the ramifications are off the charts.

So yes, less of everything material starting with the ever sliding scale of needs and wants in which yesterday’s wants become today’s needs and capitalism and marketing create ever more ‘needs’ that can never be satisfied, and more pursuit of the non-material that makes life worth living.

#89 LOLs on 07.05.21 at 6:48 pm

#60 Sail Away on 07.05.21 at 5:02 pm

…addiction is a choice.

OMG LOL. Prove it Sail Away. Show us you aren’t addicted to posting here. Self control, no prob, right? If you have any self-awareness you will see yourself making excuses for why you should just put out one more comment. Just one more. OMG ROTFLMAO.

#90 Mick McClean on 07.05.21 at 6:50 pm

#82 Garth’s Son Drake – Unless Trudeau does something really dumb or there’s something really breathtaking in the O’Toole box looks like we will have him till 2025 at least. He is way more popular than he was in 2019 with a 44% approval rating according to Abacus. O’Toole has a positive impression of 19%! Anyone know where Scheer is?

#91 TheDood on 07.05.21 at 6:51 pm

Lots of comments on adding more tax. The answer does not lie in more tax, the answer lies in demanding that our elected government spends less – WAY LESS.

#92 Sail Away on 07.05.21 at 6:54 pm

#53 kommykim on 07.05.21 at 4:32 pm
RE: #6 Sail Away on 07.05.21 at 2:15 pm

Well, the Sail Away family has all logistics and funding in place for residence in either Canada or the US. If both countries implode, we’ll just have to buy a new sailboat (always wanted to try a catamaran!) and live as itinerant vagabonds. Could swing by to visit my peeps in Venezuela.

———

Having ridden out my share of hurricanes in a 37ft monohull sailboat, I’d never want to try the same in a catamaran. Sure, they’re fast and more stable in moderate seas, but once they flip that’s it. For extreme open ocean conditions, you really can’t beat a self righting monohull.

———

Well, I’ve never sailed near a hurricane and wouldn’t want to. There’s enough boat noise and body launches in a regular old gale. If we bought a cat, it would be tradewind sailing with lots of time at anchor in the tropics, where the big deck really shines.

There are some pretty stable bluewater cats, and really, bluewater is all about accepting some risk so if the worst were to happen on a passage… oh well. Nobody lives forever. When the time comes, that’s my preference anyway- screaming winds, huge breaking seas, no possibility of rescue… the Kraken unleashed! I’d happily bob around in that until hypothermia took over. My small donation to the food chain.

#93 Damifino on 07.05.21 at 6:55 pm

#59 Annek

Yet people will vote for him…
—————————–

Because they see nothing else.

#94 Steve French on 07.05.21 at 6:57 pm

Now Native leaders are demanding that Catholics stop going to mass.

“They can still pray at home in silence. That would send a strong message”

https://www.cbc.ca/news/canada/saskatoon/catholics-sunday-mass-boycott-saskatchewan-1.6088507

These escalating demands won’t stop… it’s an industry now.

At some point in the last few months, Canada’s Indigenous leaders have lost me as a full supporter.

#95 BillyBob on 07.05.21 at 6:58 pm

#64 Ponzius Pilatus on 07.05.21 at 5:19 pm
#51 Dolce Vita on 07.05.21 at 4:31 pm
Hate to tell you this Canada, but you are fast becoming a joke internationally.

European coverage of Catholic Churches being burned down and Statues of Queens being toppled making the headlines in the UK, Italia, Germany, France, etc.

A nation of thugs and mob rule by acquiescence.
—————-
Exaggerating is usual.
You’re not the only one reading/watching European News.
Europe and especially your precious Italy, are having a lot of problems on their own.
No country is perfect.
Stick to commenting on the EURO Soccer Tournament.

——————————————————————-

Gonna have to give the edge to someone actually living in Europe over someone getting his perceptions from online news in Vancouver.

Dolce is correct. None of the press coming out of Canada presently is flattering. If it’s not the extreme heat in BC recently it’s the burning churches and toppled statues and endless self-flagellation. But no need to get touchy about it, fortunately no one really cares about Canada. (Not even most Canadians, regrettably.) The reaction is generally mild bemusement at the shenanigans coming from a place they vaguely thought was a “nice” country, if they thought about it at all.

Or horrified fascination from the likes of Ms. BillyBob at the embrace of ideologies that wrought extreme suffering elsewhere in relatively recent history.

Reap what ya sow, I guess. *shrug*

#96 avocado on 07.05.21 at 7:04 pm

In the world of negative interest rates and 100+% short interest, why should we stop at 100% income, why not a 200% income tax rate?

In the end we’ll just tax the middle class via inflation.

#97 Tim P on 07.05.21 at 7:20 pm

A warning to you debt lovers with the Liberals, NDP, Greens etc. See Mexico, look at their much higher bond yields. Here is a taste of Canada’s future. Mexico’s current bond yields, 1 year 5.42%, 3 year 5.78%, 5 year 6.34%, 7 year 6.83%, 10 year 7.21%, 15 year 7.38%, 20 year 7.72%, 30 year 7.73%.

Also, a 50 cents maybe lower loonie to US dollar. Good luck with your Canada government $2 trillion debt in coming years.

#98 the Jaguar on 07.05.21 at 7:21 pm

I suppose Garth is right as usual. There will be a fall election, if for no other reason than T2 trying to get ahead of the sh_tstorm and grief Jody Wilson Raybould’s book is going to cause when it hits the bookstore shelves. When the dust settles it won’t change what’s coming down the road one iota.

Significantly higher energy costs that will kick consumers where it counts. Not temporary, either. Higher interest rates, too. Don’t matter who’s in charge when that begins to roll out.
A changing employment environment due to increased digitalization, other robotics, a lack of quality labour, and the unknown impact on some industries that may take years to recover from the lockdowns if they do at all. Or they will shed excess weight like a snake sheds its skin.

More polarization of segments of society due to group-think Marxists who thrive on dividing people with their politics of Intersectionality, Critical race theory, and their general lack of awareness of history and life. A pox on all of them.

Pretty obvious we’re not in Kansas anymore, Dorothy. “What to do, what to do…”, as Pooh once said.

Just look into those big brown eyes of Lenny, and know that as long as angels like him still inhabit this earth there must be something worth fighting for, so come election day be sure to vote with one hand on your wallet. Amen.

I think his collar is some kind of a tartan. Lenny lives with Scottish folk.

#99 Man of the cloth on 07.05.21 at 7:27 pm

I’ve been paying tax at the highest marginal rate for the past 30 years. I don’t begrudge this. And, I don’t consider RRSP’s and the TFSA as tax loopholes. Who would.
Can someone, particularly those who keep mentioning them, point out where the tax loopholes are located, so I can tell my highly paid accountant and financial advisor that I am paying too much in tax each and every year.

#100 crowdedelevatorfartz on 07.05.21 at 7:27 pm

@#84 Barb
“Anybody got a bucket of tar and a bag of feathers in their basement?
Asking for a friend.”

++++

I like the way you think.
Unfortunately there isnt enough Tar in the Tar Sands or Feathers in every chicken rendering plant in the world to deal with all the Political and Management assjacks that deserve a shellacking .

#101 Yukon Elvis on 07.05.21 at 7:28 pm

My brain shuts down the minute his image comes on – as if it knows – don’t try process these nonsensical statements or retain this empty doublespeak – it’s meaningless. All meaningless.
—————
I agree!
In addition, as soon as he opens his mouth, I cringe and shut off the news.
++++++++++++++++++++++

Same. I rush to turn off the tv or the radio. My blood pressure goes up and I start swearing out loud. Can’t take it any more. Preparing for the election. I have holy water, a wooden stake, silver bullets and an exorcist all lined up. I will also invoke the Family Curse. Didn’t work last time but I am waiting for Van Helsing to return my call.

#102 crowdedelevatorfartz on 07.05.21 at 7:31 pm

@#79 Aftred

Yep.

https://westernstandardonline.com/2021/07/bc-civil-liberties-association-boss-calls-for-church-burnings/

The public outrage is ramping up.
Should be interesting to see her grovel for her job over the next few days.
Insincere apologies.
Tears.
Then Excuses.

Charge her with a Hate crime and Fire her.
“Isn’t it ironic”

#103 ImGonnaBeSick on 07.05.21 at 7:38 pm

#24 VGRO and chill on 07.05.21 at 3:08 pm
“Since the Libs have convinced young voters (now the largest cohort) that Indigenous issues, the environment and social justice matter more than money stuff,”

You can’t have a functioning economy without a functioning environment.

Young people care about environmental issues because they have got a lot longer to live on this planet than you do, Garth.

—-

No, they want to talk about the environment and throw money at it to make it someone else’s problem, all the while thumping their chests and saying, “see!? I care about the environment!” while physically doing nothing…

There isn’t a person alive that wants to wreck the environment super-genius… And if this truly is your main concern, why would you ever vote for Justin Trudeau. His record on the environment is one of complete failure.. emissions have gone up under T2.

Guess what? We could shut down the internet. That produces 2x the amount of CO2 that all of Canada does. Would solve a lot of the bad social and political environment too.

#104 crowdedelevatorfartz on 07.05.21 at 7:40 pm

@#68 Faron
“Drop us a line when you three are done making fools of yourselves. The Jaguar incoming to join that party in three… two… one… Job#1 in three… two… one… IHCTD9 slightly later when he will tell us about his native buds who were never raped in school so it musta never happened+

+++

As for making a fool of one’s self.
You only need to look in the mirror.
After your comment #58 where you discussed the most disgusting event you ended it with ….. LOL

The most inane, vapid three letters in cyberspace.

Good to know you can laugh while discussing sexual assault.
But the history isnt the point…is it.
It’s all about YOU always being right.

Sad.

#105 Steve on 07.05.21 at 7:42 pm

The math doesn’t matter until it does. Justin has been saying that the people who profited will pay. The rich will pay, probably not. The people who depend on social programs will eventually pay. We have a serious environmental issue to deal with they will strain our finances even more. I feel bad for the kids we have left a mess

#106 Ken on 07.05.21 at 7:42 pm

Prolonged higher inflation is the only way towards better Debt/GDP ratios. Are you prepared to pay more for everything and for many things you never had to pay for before?

#107 Sara on 07.05.21 at 7:51 pm

#60 Sail Away on 07.05.21 at 5:02 pm
“addiction is a choice”

———————————–
You were kidding right?

#108 Silent the people on 07.05.21 at 7:55 pm

We talk about taxes but it is really about how indebted people and government are! We are so screwed….
We can thank the banking system for that!

#109 Ponzius Pilatus on 07.05.21 at 8:01 pm

Billy Bob
What’s the news on the Gypsy (Roman) sterilizations in the Czech Republic.
Did the Government apologize yet?
Oh, did not happen.
Liberal Media made it up.

#110 Tarot Card on 07.05.21 at 8:10 pm

Thanks for the blog Garth
Canadians don’t care about debt, government or personal

It’s so sad. Like ABBA sings , gimme gimme gimme

I think the government needs to press the reset button and throw out the tax code and start fresh.
Stop all programs and start fresh

Make balanced budgets law except in emergencies.
What is interesting we could have easily went back to a 19 billion deficit, but oh no we need all these new programs. 100 billion?

To the idiot that says young people care about the environment because they have longer to live. I do my best to save the environment! I care very deeply about the environment have been for 50 years.
The problem is everyone wants an exemption so the government says okay to the lobbyist.

When you really think about it garbage is so easy, throw everything into one bin and burn it problem so
Easy and before you say it, there are plants with zero emissions.
Second point end the tar sands they need to burn 2 barrels of oil to make one, or go nuclear folks clean energy.
Why is life so complicated?

#111 Joseph R. on 07.05.21 at 8:14 pm

#50 Sarah on 07.05.21 at 4:24 pm
Joseph R, another wealth tax is the 1% annual empty homes tax in Toronto and 3% annual empty homes tax in Vancouver. I bet there are other cities in Canada too that already have a similar annual empty homes tax.

Also, not big yet but watch out like what about utility fees and charges like garbage taxes, fees, water fees that if not paid are attached to your house with high interest compounding 1.25% per month.

——————————————————————-

That is why municipalities love raising real estate prices: they increase their revenue without increasing taxes! Of course, once real estate values go down, cities and municipalities will need to increase property taxes and user (utilities) fees to keep up their current services and pension obligations.

#112 Trojan House on 07.05.21 at 8:18 pm

“Canada has just over 280,000 people (out of 28 million population 15+) who are 1%ers. The average income is $381,300 (and this includes our handful of billionaires…”

You forgot to include all the chief medical officers of health for Canada (Tam), the provinces and the cities. Remember? The ones that keep pushing lockdowns when they rake in well over $350,000 per annum plus benefits and pensions? Yeah, those chief medical officers of health.

Like Lee said – how about governments spend less, like nothing.

#113 Mountain Camper on 07.05.21 at 8:19 pm

Two Canadians in Men’s single Wimbledon championships….let’s hope they both go to Final.

#114 Marquis de Sale on 07.05.21 at 8:19 pm

If we list Baffin Island on kijiji for 1Trillion obo, the national debt is gone.

#115 Ponzius Pilatus on 07.05.21 at 8:23 pm

And now for some good news.
In BC ( Best Place on Earth) infections down to mid twenties.
Expected herd immunity date: 85 %, mid August.
Remember, always under promise and over deliver.

#116 Phylis on 07.05.21 at 8:25 pm

I think we need a certification process for people to become politicians.
Ya know, kinda like any profession does. No more throwing a hat into the ring.
Start with a math test.

#117 Linda on 07.05.21 at 8:31 pm

#58 ‘Anna’ – not take away from people’s incentive to work? Your suggestions that those who pay off their debt (house); are working to achieve FIRE or otherwise amass assets should be penalized would do exactly that. Why work harder or longer if by doing so your efforts are taxed an additional amount?

#118 Yukon Elvis on 07.05.21 at 8:33 pm

#116 Phylis on 07.05.21 at 8:25 pm
I think we need a certification process for people to become politicians.
Ya know, kinda like any profession does. No more throwing a hat into the ring.
Start with a math test.
+++++++++++++
I think we need a certification process for people to become voters.
Math test would be good. So would an IQ test.

#119 Mean Guy on 07.05.21 at 8:35 pm

Who cares what the foreign press thinks of ‘Canada’?

The insecurity of Canadians who are continually obsessed about ‘looking good’ and ‘being liked’ is really kind of pathetic.

It leads to things like dimwitted drama school teachers being elected based on their cuteness.

Too bad there isn’t a way of preventing adults who behave like 12 year olds at a Bieber concert from voting.

#120 crowdedelevatorfartz on 07.05.21 at 8:47 pm

@#118 Yukon Elvis
” I think we need a certification process for people to become voters.
Math test would be good. So would an IQ test.”

++++

Nah.
It goes deeper.
There should be a “parenting” qualification.
First you have to keep fish in an aquarium alive for a year.
Second, Own and train a well behaved dog for a minimum 10 years.
Third,
Help parents with the care of a severely autistic child for 1 year.
Pass all those tests…….
Breed away.

#121 James Wrenfield on 07.05.21 at 8:47 pm

Just using Las Colinas, in Dallas Texas as an example, a city within a city where head office towers are like a field of mushrooms, the Great Canadian Emigration started long ago. There are hundreds of thousands of high end ex Canadians who have moved permanently just to Texas. The expat pop of skilled rich Canadians who’ve moved to the US is in the multi millions.

And the numbers of nurses and doctors? Through the roof. I guess the media in Canada won’t carry the story but it happens anyway, every day.

Real estate is cheap, taxes low, cars and gas are real cheap. A 3500 sq ft new house in Frisco Texas is under 300. My Camaro convertible was $19, 999 opposed to $54 K for the same in Canada. And Texas has highways, long beautiful highways leading to beautiful beaches on South Padre.

Texas wants you. Why stay in a country that hates you? Move !!

#122 T on 07.05.21 at 8:59 pm

#89 LOLs on 07.05.21 at 6:48 pm
#60 Sail Away on 07.05.21 at 5:02 pm

…addiction is a choice.

OMG LOL. Prove it Sail Away. Show us you aren’t addicted to posting here. Self control, no prob, right? If you have any self-awareness you will see yourself making excuses for why you should just put out one more comment. Just one more. OMG ROTFLMAO.

———

Ha! Very true! He can’t help himself!

Sometimes I see similarities in his posts with older handles that have disappeared from this blog. I think he’s gone through a few personality iterations before coming to his current, especially annoying, version.

Definitely an addiction.

#123 Wrk.dover on 07.05.21 at 8:59 pm

#72 You know Val on 07.05.21 at 5:36 pm
Hi Garth, if the 40% were to pay say $1000 each on tax annually, how much would that add to helping bring down the deficit?

______________________________

“The” 100% have been needing to pay more extra than that for decades. And then some. Math is easy, if you aren’t in the govt in power.

#124 Ponzius Pilatus on 07.05.21 at 9:09 pm

#120 crowdedelevatorfartz on 07.05.21 at 8:47 pm
@#118 Yukon Elvis
” I think we need a certification process for people to become voters.
Math test would be good. So would an IQ test.”

++++

Nah.
It goes deeper.
There should be a “parenting” qualification.
First you have to keep fish in an aquarium alive for a year.
Second, Own and train a well behaved dog for a minimum 10 years.
Third,
Help parents with the care of a severely autistic child for 1 year.
Pass all those tests…….
Breed away.
—————-
Read this again, tomorrow.
When you’re sobar.

#125 SmallTownSteve on 07.05.21 at 9:16 pm

Tax the Rich more they say….what they fail to realize is that when a government makes the tax burden too unbearable the “rich” simply leave…then the “10%ers become the 1%ers…and they leave…

#126 ImGonnaBeSick on 07.05.21 at 9:43 pm

#89 LOLs on 07.05.21 at 6:48 pm
#60 Sail Away on 07.05.21 at 5:02 pm

…addiction is a choice.

OMG LOL. Prove it Sail Away. Show us you aren’t addicted to posting here. Self control, no prob, right? If you have any self-awareness you will see yourself making excuses for why you should just put out one more comment. Just one more. OMG ROTFLMAO.

——-

What a dumb comment.. last time I checked, commenting on a blog doesn’t cause self harm… I honestly don’t know enough about addiction to have an educated opinion on this, but I can tell you this of my experience. When my wife found out she was pregnant with our first child, I immediately quit smoking. It wasn’t hard, total choice I made. That was 10 years ago, and I actually quite enjoyed smoking before that.

#127 Planetgoofy on 07.05.21 at 10:02 pm

DELETED

#128 Mr Canada on 07.05.21 at 10:04 pm

@ 2%-er
I’m not a 1%-er but am probably a 2%-er, and I consistently vote to raise taxes for not only myself but other people who are fortunate from hard work, opportunity, or just plain luck (or sometimes all three).
++++++++++++++++++++++++++++++++++++
Yes, you, like my rich wealthy socialist friends pontificate the same thing every year, “I’d happily pay my fair share” yet none of them elect to tick that small little box at the bottom of their tax return asking if you would like to contribute your refund or perhaps even more money to help pay down the deficit.

#129 Planetgoofy on 07.05.21 at 10:06 pm

#58 Anna on 07.05.21 at 4:56 pm
———————————–
LOL what Garth said.
STOP SPENDING YOU FRICKEN IDIOTS!

#130 condopoor on 07.05.21 at 10:10 pm

I feel like this post was sad with no real advice. Are you going to tell us what to do?

#131 Neel Staal on 07.05.21 at 10:40 pm

Garth, where do you see the CDN FED Debt and USA FED Debt in 10 years?

#132 Dr V on 07.05.21 at 10:42 pm

109 hey Ponz – I didn’t want you to feel left out. Do you know what has happened since?

https://www.chicagotribune.com/news/ct-xpm-1997-08-28-9708280294-story.html

“It is the suppression of the sexuality of handicapped women, as society wants them to remain children,” said Volker Schoenwiese, assistant professor at the Innsbruck (Austria) Institute for Educational Science.

Austria’s Green Party health spokeswoman Theresia Haidlmayr said around 70 percent of mentally handicapped women still are sterilized, most of them against their will.

“Forced sterilization is often carried out under false pretexts. For example, women are told their ovaries must be examined or men their foreskins opened,” she said.

The issue remains a taboo in Austria, she said, but the practice is widespread and legal. Most of the sterilizations are carried out before the patients reach the legal age of adulthood at 19, and many are only 10 or 11 when they are operated on.

#133 no one important on 07.05.21 at 10:43 pm

DELETED

#134 Walked BC on 07.05.21 at 10:48 pm

Costa Rica brings in the digital nomad visa. 1 year, auto renew, no investment needed. No income tax and am online workers paradise. See you there when T2 wins again.

#135 Sail Away on 07.05.21 at 10:51 pm

#107 Sara on 07.05.21 at 7:51 pm
#60 Sail Away on 07.05.21 at 5:02 pm
“addiction is a choice”

——–

You were kidding right?

——–

Let’s examine, shall we:

Scenario 1: You are dying because you are smoking too much meth. You don’t want to die, so choose to stop smoking meth. Result: you live

Scenario 2: You are dying from cancer. You don’t want to die, so choose to stop having cancer. Result: you die

It may seem complicated. You can choose to make it less complicated. Result: logic

#136 crowdedelevatorfartz on 07.05.21 at 10:52 pm

@#124 Ponzie’s Pub Pint
“When you’re sobar.”

+++

Why be sober when being drunk is far more fun.

#137 no one important on 07.05.21 at 10:58 pm

I understand why the moderator would delete my comment. FYI, every word was true, there are plenty of other eye witnesses to this and I would repeat my comment under oath.

Peace

#138 IHCTD9 on 07.05.21 at 11:15 pm

#10 All_Soup_No_Spoon on 07.05.21 at 2:41 pm
Personally, I would vote for Lenny!

Are the Feds thinking that MMT allows for all this? I am genuinely trying to understand what MMT is all about. It seems like old-school Keynesian theory which somehow doesn’t account for the fact of ‘leakage’ in the economy.

Perhaps the blog-dogs have some insights? (Almost wrote ‘incites’. Freudian slip)
—— –

Spend till inflation takes off, then tax the excess cash out of the system.

#139 Nonplused on 07.05.21 at 11:16 pm

Maths are hard.

The latest meme going around on the internet goes something like “Why are billionaires shooting themselves into space when people are homeless?” It kind of seems like a valid question until you realize it is either that or abandon manned (peopled?) flight including the space station for enough money to buy every homeless person 1 hot dog and a Pepsi. Part of the point is to prove it is safe.

Then there is the point of exactly how much money the armed forces syphon off the economy, especially in the US. The billionaires couldn’t cover that for one year. Empire is expensive.

I can kind of sympathize with the millennials and the government a bit, any trip to Costco will prove that $30 here and $10 there and by the time you get to the till you a talking about some real money. The government has the same problem. Of course they want to pay for all the things. But the cash register is still going to ring up the total.

“But it isn’t fair! That guy has a Moomba wake boat!” I suppose we could seize all wake boats and sell them (to whom? US buyers?) but that ain’t going to scratch the surface. And the dude is injecting a lot of money into the economy owning that thing. All those jobs would be gone.

There have been a lot of people crying wolf over the deficit for many years, and they have been ignored and mocked. However I think each day brings us closer to the point where we will have to admit that someone has been eating all our sheep. The reckoning will come.

#140 DON on 07.05.21 at 11:17 pm

Trudeau…October Majority…promising a spending spree for a while until the budget comes and then taxes. YUP!

Although things could change over the summer…elections are usually determined in the 6 weeks prior when the majority tunes into politics.

#141 Nonplused on 07.05.21 at 11:20 pm

#9 RG on 07.05.21 at 2:40 pm
there is no wealth tax

This tiny aside should be the whole article.

In a country with a top tax rate of 53%, why should we also tax what remains as assets? – Garth

———————————–

You can’t tax wealth because it is not money. It is notional share prices. An when the shares are sold, along comes the capital gains tax which if it isn’t a wealth tax I am not sure exactly what it is.

#142 IHCTD9 on 07.05.21 at 11:24 pm

#85 Keith on 07.05.21 at 6:30 pm

The problem with the 40% statistic is that it includes the entire population, including children and Grannies, in order to inflate the percentage for dramatic effect. Even in low wage, low salary Canada most workers pay some income tax.

Taking the number at its dubious word, with the Canadian population at 37 million, 40 percent paying $1000 more in federal tax would increase revenue by 14.2 billion. The whole population of Canada, 37 billion.
——-

Dude… labour participation in Canada is about 60%. There is no way to fix what Trudeau has done via taxation. Roughly 19 million folks have a job in Canada, and the median individual income is about 35K.

Any doable tax increases are peanuts facing a 1 Trillion dollar federal debt (and a trillion more provincially).

#143 Ponzius Pilatus on 07.05.21 at 11:36 pm

#132 DR. V
Fair enough. Eugenics were practised not only in Nazi Germany.
—————————-
Alberta[edit]
See also: Alberta Eugenics Board
The most damaging sterilization program in Canadian history was afforded via the passing of the Sexual Sterilization Act of 1928. From the years 1928 to 1972, sterilizations, both compulsory and optional, were performed on nearly 3000 individuals of varying ages and ethnicities

#144 Nonplused on 07.05.21 at 11:43 pm

#32 Dogman01 on 07.05.21 at 3:32 pm
Ok – so Billions spent, did any of it go to new hospitals or new capacity, like a Drug Manufacturing capability. Was any of it investments that have any value? Are the Hospitals now in better shape with more equipment, staff etc? Are the Old Age homes able to do things better with more regulation and oversight?
Should we not have a few new Hospitals built to show for all this money spent.

———————————

I was at the Foothills hospital recently for the first time in 15 years. It seemed to me they have not stopped expanding the campus the whole time. The new children’s hospital sure, you can see that from many parts in the NW, but the Foothills? Whew. Maybe not a new location but holy heck they have a lot more facilities. But the provinces do that not the federal government.

The final leg of Stoney Trail is under construction finally (and it is going over reserve land now that the city sweetened the deal enough) and they are spending some good money there too. Again the province and the city.

In fact I am not sure what the federal government does besides transfer money around and delay pipelines. And charge money to visit a National Park.

#145 Nonplused on 07.05.21 at 11:54 pm

#39 Stoph on 07.05.21 at 3:58 pm
Oh great. Trudeau is spending $420M to phase out coal for steelmaking – not sure how they’re going to make steel without coal. As far as I know the tech isn’t there yet. I could support Trudeau spending money on steel making R&D that reduces CO2 emissions, but not this.

As is typical these days, the article is lacking in detail.
https://globalnews.ca/news/8003916/justin-trudeau-green-energy-funding/

————————————-

Recycled steel is made in an electric arc furnace. However you are correct new steel from ore requires smelting with coke, which is processed coal.

Cement manufacturing also emits a lot of CO2 and it is not clear what chemical miracle could avoid this.

And of course near all roads and most roof shingles are made of asphalt. There isn’t a ready replacement for that either.

The “green” economy would be a great idea if it weren’t impossible.

And while we are at it, why is a pipeline which rarely leaks and is unseen once constructed considered more environmentally damaging than paving the landscape under with 6 lanes of asphalt? Never herd of a deer getting run over by a pipeline.

#146 VicPaul on 07.05.21 at 11:59 pm

#46 The West on 07.05.21 at 4:16 pm
Your entry today is apt.

The plebes does not understand that the destruction of incentive is the destruction of ambition.

It can only be said so many times in so many different ways. If you destroy incentive to make life better society hangs onto the anchor as things get worse.

Equality of opportunity is not the same as equality of outcome.

*********

…and yet, there go North American (U.S., Canada anyway) governments going full welfare state – like the lessons of ’70’s New York and the debilitating effects on black culture weren’t obvious enough…sheesh, lefties.

On a patriotic note, how ’bout those Canadian tennis young guns! Both Felix and Dennis into the Wimbledon quarters!!
I understand it’s against the present social narrative to cheer on/celebrate men and their personal accomplishments but, damn! those young guys played well and did our country proud!
Oops, triggered someone else…

M57BC

#147 IHCTD9 on 07.06.21 at 12:05 am

Trudeau has made the math pretty easy. Simply, we can’t fix it anywhere short of massive tax increases right across the income spectrum (not happening), in conjunction with humongous austerity measures – and BOTH of these for several decades (also not happening).

IMHO, the Trudeau Liberals have single handedly destroyed the historic prosperity connected to living in Canada. Gen Z will be the last generation to prosper, but only via the wealth of their Gen X parents. Few Gen Alfa (kids of millennials) Canucks will prosper. It’ll take at least a decade for the reality of our current Liberal dunce cap sporting policies to take hold yet, but it will – in the form of a broke government that can’t borrow at competitive rates. The social net will erode, the low end of society will drop out, the persecuted will leave, it may even effect immigration numbers.

I say we’ll be in the thick of it 15 years from now, you’ll want to keep an eye on the currency if Trudeau type politicians keep getting elected. The future is global, borders are fading, the west is increasing. Canada is western, and there needs to be a reason for folks to want to live here, we’re way beyond the possibility of replacing ourselves. The minute you see masses of Canucks retiring as an expat, you know something is wrong.

Harper was booted just as he had pulled the deficit under the 1 billion mark. We voted Trudeau in, and last years deficit was 354% higher. Sure blame COVID, but you’re still on the hook for it – plus everything else, and everything yet to be.

TLDR, there’s no fixing what Trudeau has done, seriously – start looking for some other place to retire.

#148 TurnerNation on 07.06.21 at 12:18 am

On the Economic Shutdowns designed to hurt small business.
This is the manufacturing of consent. Why not ditch capacity limits and allow businesses open in Ontariowe?
That option is NOT available. Everything is couched in ‘Restrictions’. Here is our Health Diktatorship.

https://www.cp24.com/news/gtha-leaders-call-for-clear-guidance-on-step-3-capacity-limits-1.5497352
“GTHA leaders call for ‘clear guidance’ on Step 3 capacity limits”

——

Election? I’d give it 50/50 chance. What could happen before then, what’s in the Globalists’ playbook. Oh I don’t know. Delta Plus Plus? Sigma? Cyber attack? Hang on for T3.

—–
France: the sheeple do not want their tracking collars. Tsk tsk we need more lockdowns. Also: Lockdowns means printing more money. More debt. More control.

https://www.francebleu.fr/amp/infos/economie-social/enieme-revirement-a-la-foire-de-tours-plus-de-pass-sanitaire-apres-la-fronde-des-exposants-1625245105
The sanitary pass is finally no longer mandatory to enter the Fair of Tours, since this Friday evening. Yet another twist, just one day after the pass was required on Thursday night. Exhibitors and organizers, angry, are now relieved.
“Great, no more passes!”. The exhibitors of the Fair of Tours explode their joy, by learning the news. “We will finally be able to work and find the public we expected!”. In the vicinity of the stands, it is the relief after a first day of opening of the show deserted by the public

#149 Nonplused on 07.06.21 at 12:28 am

#57 S.Bby on 07.05.21 at 4:52 pm
We need to properly tax real estate gains on principal residences there is billions being left on the table with this. Also tax secondary suite rental income there is billions there too.

———————————-

Yes absolutely because the last thing we want is for grandma to be able to afford her old age home after 35 years of paying property taxes with after income tax money. Which old age home also plays income taxes and so do the employees. But better to tax granny’s house and put her in a chicken coop out back.

Socialists, when it comes right down to it, are avaricious, covetous, callous, and heartless. It’s all about getting money from someone else even if that puts someone else out of the old age home and on the street.

#150 Ed on 07.06.21 at 12:42 am

#53
Having ridden out my share of hurricanes in a 37ft monohull sailboat
/////////////////////////////

No you didn’t.

#151 IHCTD9 on 07.06.21 at 12:43 am

#135 Sail Away on 07.05.21 at 10:51 pm
#107 Sara on 07.05.21 at 7:51 pm
#60 Sail Away on 07.05.21 at 5:02 pm
“addiction is a choice”

——–

You were kidding right?

——–

Let’s examine, shall we:

Scenario 1: You are dying because you are smoking too much meth. You don’t want to die, so choose to stop smoking meth. Result: you live

Scenario 2: You are dying from cancer. You don’t want to die, so choose to stop having cancer. Result: you die

It may seem complicated. You can choose to make it less complicated. Result: logic
— —

This is your best post ever. Logic is a tough one for some folks – this well presented example is beyond excellent.

Personally, I have kicked some bad habits, and made some lifestyle changes because I came to believe the implications thereof. Not easy, but it bloody well was a choice, from the beginning to the end.

Actually making that personal decision is the only way to conquer. Every social worker on the planet is trying to make their clients do the same, so that they can make that same crucial decision backed by faith and belief – that will change everything. Winning at this stuff starts and finishes at home, in your head, no one else can fix it but you.

#152 GOD BLESS THE USA on 07.06.21 at 1:04 am

The pandemic is over… a new world record for hotdog eating has been achieved… 76 in 20 minutes… stunner….

https://twitter.com/espn/status/1411730424913616907?s=19

#153 Jon B on 07.06.21 at 1:49 am

The left wing will rule Canadians for many years to come. High levels of ignorance about fiscal matters, an iron-clad expectation for government hand-outs, a strong preference for reliance on the state over self sufficiency, mass failures to launch from the nest for young people, virtue signaling trumping personal accomplishment by earning it and lifestyles financed from mountains of borrowed money. The conservative platform will not seem relevant, recognizable or attractive to Canadians that embrace these values.

#154 Planetgoofy on 07.06.21 at 2:42 am

DELETED

#155 Al on 07.06.21 at 3:34 am

8 figures deep, close to bedtime and still with the habitual arguments about taxation. Even if it were at the “perfect” level, that unpleasant feeling driving the taxes/spending sentiment would remain within you and orient your interactions with the world and yourself. It’s not the taxes or government spending. The cause is not out there, so nothing out there will make it go away. Reflect on what experiences are being restimulated, very early experiences which evoke the same feelings. Fully express these feelings. Journal, cry, scream, punch, laugh. A lot. Explore every nook and cranny in there, rinse and repeat. It won’t be fun. It will allow you to make the most of your remaining time. One day you won’t need the blog/blog dogs anymore. You can always reach out to me. Take care and be well.

#156 Summertime on 07.06.21 at 3:59 am

subprimes at sub 1 %

https://ca.finance.yahoo.com/news/the-lowest-variable-rate-mortgage-in-canadian-history-is-here-165320457.html

the party goes on.

next will be 40, 50 years, interest only and intergenerational mortgages where you mortgage the life of your unborn grandchildren.
CHMC will ‘insure’ the mortgage and pay up premiums in case you don’t have children or grandchildren.

Then with price to income ration of 30, 50 + (currently 15+, 20 + for Toronto and Vancouver) we will keep hearing about ‘affordable housing’ and how ‘inflation’ is transitory and non existent.

Then J2, J3, … J4 will apologize and that will be it folks. The game plan for the next century.

#157 gregonomic on 07.06.21 at 4:30 am

Surely a broad-based land tax has to be thrown into the mix at this stage? Is there a political party in Canada that is considering/proposing this?

#158 unbalanced on 07.06.21 at 6:42 am

“more money for natives”. You got to be careful how you say things. Very sensitive. If you inquire about anything or ask a question you are considered a racist. Just look at what happened in Winnipeg.

#159 Another Deckchair on 07.06.21 at 7:37 am

“Tax the rich?” How about “live within our means”

That includes our government. Somehow the partner and I managed to live within a budget, looking closely where money *actually* went, and lo and behold, we have no debt.

Too bad our government has no idea what a “Budget” is.

I’ll bet that JT (lucky guy) has never had to budget personally, and never had to even think about daily spending. And we expect him to do this for our country?

#160 Anna on 07.06.21 at 7:37 am

Bring in a wealth tax. Keep it low (ie 0.25%) and have it hit the spend reasonable value of net worth in excess of $250k per adult. Include the net worth of citizens when calculating benefits (ie. CCB) so it doesn’t go to families earning little in working income but sitting on a trust fund, paid off house, FIREing etc. Cut back the CCB to families earning over $150k per year or with $1M+ in assets. Introduce a higher inclusion rate on capital gains. Hike the GST to 15%. All little but would slowly chip away at the debt without hurting people’s incentive to work.

None of that would reduce a penny indebt since the government federally is still adding to the pile at the rate of over $10 billion a month. But it would certainly slow the economy and cost jobs. Why can’t the spending be reduced, instead of the revenues raised? – Garth

——-

Totally agree spending should also be reduced (for example the CCB to people who clearly don’t need it, or OAS to seniors with household incomes of over $100k) should be eliminated. These should be programs to support people who really need it, not those already quite comfortable. Reduced spending on Government pensions and government salaries (think Teachers, Firefighters, Cops…) to bring them in line with the private sector, is also badly overdue.

#161 Anna on 07.06.21 at 7:47 am

#67 Drew to #58 Anna, a 250K net worth is nothing, and will be less in 20 years

——

Agree it’s low, but also more fair as it will hit more people, and at a low level of taxation it is more likely to fly under the radar. Switzerland for example has the wealth tax threshold for a couple set at a few hundred thousand (CAD) for example. It’s not aptly named, clearly households with a net worth of $500k are not “wealthy”.

#162 Anna on 07.06.21 at 7:58 am

#117 Linda @#58 ‘Anna’ – not take away from people’s incentive to work? Your suggestions that those who pay off their debt (house); are working to achieve FIRE or otherwise amass assets should be penalized would do exactly that. Why work harder or longer if by doing so your efforts are taxed an additional amount?

Well you wouldn’t have a choice but to work for longer if you were receiving less in child benefits or paying a small share of tax on your wealth because it would be harder to get to retirement in the first place (further benefiting the government through additional revenue from income tax).

#163 crowdedelevatorfartz on 07.06.21 at 8:19 am

@#155 Summertime

A variable rate mortgage that is “The lowest mortgage rate in Canadian History” ….. Brought to you by… Ratehub.

The “dead cat bounce” before things go sideways?

Inflation is slowly burning like a forest before the wind picks up….
Job postings everywhere.
Sales are slowing.
“Affordable Housing” is a joke.

Lets see where we are in 6-12 months

#164 crowdedelevatorfartz on 07.06.21 at 8:26 am

@#152 The end of “Civilization”…

“The pandemic is over… a new world record for hotdog eating has been achieved… 76 in 20 minutes… stunner….”

+++

Yep.
The epitome of excess.
Jamming 76 hotdogs down your throat in 10 minutes in front of a cheering audience and then immediately running off stage to vomit it all up.
Charming.

I wonder if the Roman feasts 2000 years ago had any type of similar spectacle for the screaming mob…?

#165 Dharma Bum on 07.06.21 at 8:28 am

#14 Sunshowers

Special treatment for capital gains and no wealth tax reward idleness.
——————————————————————————–

True.

But bums need rewards too.

Bums’ Lives Matter.

#166 the jaguar on 07.06.21 at 8:30 am

@153 JonB: well said. Amen.

#167 milly on 07.06.21 at 8:56 am

And I’m sure the “wealthy” people they will tax don’t include people who won the lottery with their million-dollar starter homes in Durham, right? I am not sure why any other investment is fair game except for real estate in this country, especially when a lot of young people are forced out of affording homes.

#168 Mr Canada on 07.06.21 at 8:56 am

#156 @gregonomic
Surely a broad-based land tax has to be thrown into the mix at this stage? Is there a political party in Canada that is considering/proposing this?
+++++++++++++++++++++++++++++++++++++
How about a political party that endorses getting the 2 out of 5 households in Canada (that’s 40% !) that don’t pay any taxes to start paying taxes ?

https://financialpost.com/personal-finance/taxes/trudeau-is-right-40-of-canadians-dont-pay-income-taxes-which-means-someone-else-is-picking-up-the-bill

#169 Dharma Bum on 07.06.21 at 9:08 am

#64 Ponzy

Europe and especially your precious Italy, are having a lot of problems on their own.
No country is perfect.
——————————————————————————

Italy is far from perfect, but, they have provided many great things to the world:

Lasagna
Tomato Sauce
Bruschetta
Parmigiano Reggiano
Prosciutto
Gabagool
Cannoli
Salami
Braciola
Bologna
Polenta
Gelato
Panzanella
Focaccia
Mozarella
Ciabatta
Carabinieri
Marconi
Volta
Jacuzzi
Ferrari
Montessori
Zamboni
Mafiosi
Mamma Mia
Political corruption on a grand scale
Dolce Vita

#170 George S on 07.06.21 at 9:10 am

I wonder if the reason some people have the mantra of “Tax The Rich” is that they have been indoctrinated by the myths about rich people in modern fairy tales like “Richie Rich” or “Scrooge McDuck” where you have humorous portrayals of the 0.001% world problems faced by these fictional people. They have huge vaults filled with cash in the form of bills and coins and they roll around in it and play with it.

I think that if 40% of the population are taxpayers then a $1T national debt means that each taxpayer owes $70k. To pay it off at some point in the future would require each taxpayer on average to pay the equivalent of a $70k mortgage extra tax every year for 25 years. At 5% it would be an extra $5000 per year in taxes for 25 years. If you make it proportional that would mean a person making the average annual income in Canada would need to pay that amount extra.

#171 LCBO on 07.06.21 at 9:16 am

***Garth Turner for Governor General!***

Stay tuned for news at 10 a.m. EST.

(Anything to get him and his damned flags out of Lunenburg…)

LCBO
Lunenburg Covidiot Bureau of Oppression

#172 Armpit on 07.06.21 at 9:29 am

As I always said before…. everyone over 18 yrs should be paying 10% minimum tax. That includes unemployment income, social services, child benefits . All funds paid, should be subject to a 10% minimum tax.

When you pay taxes, you then watch more closer how the Government spend it.

The 40% who don’t clout more power in electing a government who only doles out more money to them

This is not the Canada I was born in, and not the Canada I see the direction it’s going.

Looks like I may have to make some personal decisions in the future.

#173 Quintilian on 07.06.21 at 9:38 am

Stop the hyperbole, Canada has one of the lowest Debt to GDP Ratio among western countries.

Tax the rich in a fair and equitable way.

Is taking 54% of income fair or unfair? Enough, too much or too little? – Garth

#174 crowdedelevatorfartz on 07.06.21 at 10:06 am

@#160 Anna

“OAS to seniors with household incomes of over $100k) should be eliminated. ”

My stepfater used to earn over 100k in retirement.
He would bank all his OAS and CPP and give it all back at the end of the year Plus a few thousand more.

As he neared the end, his investments, savings etc had dwindled ( The $90,000 per year, full care facility saw to that.)
He needed every penny to live out his final days.

Don’t worry about that money going to the “rich” …the govt taxes it all back now….

#175 Sara on 07.06.21 at 10:09 am

#151 IHCTD9 on 07.06.21 at 12:43 am
#135 Sail Away on 07.05.21 at 10:51 pm
#107 Sara on 07.05.21 at 7:51 pm
#60 Sail Away on 07.05.21 at 5:02 pm
“addiction is a choice”

——–

You were kidding right?

——–

Let’s examine, shall we:

Scenario 1: You are dying because you are smoking too much meth. You don’t want to die, so choose to stop smoking meth. Result: you live

Scenario 2: You are dying from cancer. You don’t want to die, so choose to stop having cancer. Result: you die

It may seem complicated. You can choose to make it less complicated. Result: logic
— —

This is your best post ever. Logic is a tough one for some folks – this well presented example is beyond excellent.

Personally, I have kicked some bad habits, and made some lifestyle changes because I came to believe the implications thereof. Not easy, but it bloody well was a choice, from the beginning to the end.

Actually making that personal decision is the only way to conquer. Every social worker on the planet is trying to make their clients do the same, so that they can make that same crucial decision backed by faith and belief – that will change everything. Winning at this stuff starts and finishes at home, in your head, no one else can fix it but you.
=====================

Sorry SA and IHCTD9, but research does not support your presumed “logic.”

“The American Society of Addiction Medicine defines addiction as “a primary, chronic disease of brain reward, motivation, memory and related circuitry. Dysfunction in these circuits leads to characteristic biological, psychological, social and spiritual manifestations. This is reflected in an individual pathologically pursuing reward and/or relief by substance use and other behaviors.

Addiction is characterized by inability to consistently abstain, impairment in behavioral control, craving, diminished recognition of significant problems with one’s behaviors and interpersonal relationships, and a dysfunctional emotional response. Like other chronic diseases, addiction often involves cycles of relapse and remission. Without treatment or engagement in recovery activities, addiction is progressive and can result in disability or premature death.”

https://aviaryrecoverycenter.com/research-proves-addiction-not-choice/

#176 Sara on 07.06.21 at 10:25 am

#149 Nonplused on 07.06.21 at 12:28 am
#57 S.Bby on 07.05.21 at 4:52 pm
We need to properly tax real estate gains on principal residences there is billions being left on the table with this. Also tax secondary suite rental income there is billions there too.

———————————-

Yes absolutely because the last thing we want is for grandma to be able to afford her old age home after 35 years of paying property taxes with after income tax money.

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

Grandma’s predicament would be easily resolved with a life time capital gains exemption. If grandma made 38% in a single year on house appreciation, why shouldn’t we tax some of that? Part of the reason house prices have gone through the roof (pun intended) is due to the tax free capital gains.

Meanwhile, the guy who sold his house before prices went nuts (or the guy who is a lifetime renter) and invests his retirement savings is paying taxes on capital gains. Actually giving everyone a life-time tax free capital gains exclusion would help to even the playing field between home owners and renters.

#177 Boomtown Rat on 07.06.21 at 10:34 am

I suspect that these theories are looking at things backwards.

THIS is what I see happening:

$600 Billion sounds like a lot of money. TODAY

But will it always be?

How about down the road when houses are (perhaps intentionally) inflated to be worth…say $25 million for a slanted semi in Toronto and the average income has to rise to say…$3 or $4 mil a year?

Governments permit…even encourage inflation with ultra low interest rates, and everything…houses, cars, food, etc. will go up in price.

Think about it this way. In the end your government still owes $600 Billion but a billion doesn’t buy what it used to buy. Effectively they owe less.

In essence, by encouraging the cost of life to hyper-inflate, incomes will have to go up…therefore cost of goods will go up (to pay for the higher salaries), and taxes will go up since they are based on percentages.

You government still owes $600 billion or (whatever the number is at the time) but it is literally less money than it was.

Housing was just the first step: everyone needs some place to live. Do you really think it’s a coincidence that Harper and the so called Elfin Deity implemented 40 year amortizations for a while? That kick started this almost 20 years ago. And just today this G&M headline appears: CMHC eases mortgage insurance rules, admits tightening was a mistake

Think long term folks.

Coz your government does.

And it ain’t just Canada.

#178 crowdedelevatorfartz on 07.06.21 at 10:47 am

@#175 Social worker Sara

yeah yeah,
Addictions are a disease.
Hand me a free coffee its my turn to speak.

#179 Yukon Elvis on 07.06.21 at 10:59 am

Is taking 54% of income fair or unfair? Enough, too much or too little? – Garth
++++++++++++++++
Fair has nothing to do with it. The govt. needs the money and they will take it via taxation. Once a handout is in place it cannot be taken back. What social spending could they cut without causing upheaval and guaranteeing an election loss?

#180 Summertime on 07.06.21 at 11:12 am

#173 Quintilian on 07.06.21 at 9:38 am
Stop the hyperbole, Canada has one of the FEDERAL lowest Debt to GDP Ratio among western countries.

Fixed for you. Total (Federal + Provincial+ Municipal) government debt is very very bad. Total private + public debt is worse than Greece.

There is sources on internet, move you stale brain and research it.

As for the 54 % income tax rate I refuse to pay so I moved elsewhere.

Think about it, anything about a very, very modest income (insufficient to purchase anything in the big cities these days) is taxed at 54 %, you earn 100 bucks and they literally take 54 of it, you are left with 46.

Who would work 100 units of work to get 46 left for him/her and the rest taken?

Anything about 30 % in the top bracket is a theft. Period.

There are much cheaper countries with much BETTER heath care, with very low income taxes worth exploring.

#181 Sail Away on 07.06.21 at 11:25 am

#175 Sara on 07.06.21 at 10:09 am

Sorry SA and IHCTD9, but research does not support your presumed “logic.”

———

Oh, thanks Sara, haha.

Just one tiny little point… the Aviary Recovery Centre advertisement is not, you know, like, research.

Of course, one can choose to believe it is. Choices are powerful.

#182 Millennial 1%er on 07.06.21 at 11:27 am

Please… no more taxes.. I’m paying 50% this year

I should just go to texas

#183 Mean Math Nazi Guy on 07.06.21 at 11:39 am

#147 IHCDT9

$1B to $354B is a 35,300% increase, not 353%.

Give the guy credit where it is due.

#184 Stoph on 07.06.21 at 11:41 am

#145 Nonplused on 07.05.21 at 11:54 pm
———————————————————–

Looks like Molten Oxide Electrolysis, as is being advanced by Boston Metal, can be used to make steel without coal. Of course it’s impact on emissions depends on how electricity is generated.

Hopefully my pessimism on Trudeau’s announcement yesterday is proved wrong.

#185 Habits are for nuns on 07.06.21 at 11:46 am

Addiction is not a habit. In SA’s world, I’m sure addiction is just a marker of moral weakness and he’d prefer those addicts just die and get out of his damn way.

#186 Linda on 07.06.21 at 11:49 am

#162 ‘Anna’ – never received any CCB. Paid & continue to pay taxes which presumably are used in part to provide CCB, school support etc. by the government. Retired after working full time for 41 years. Still waiting for you to explain why others should be penalized for working hard/success by adding yet another tax upon the additional taxes already paid. You do realize that tax brackets increase with income, yes? So those making ‘more’ are already paying ‘more’.

#187 Mean Guy on 07.06.21 at 11:50 am

#10 Soup

Once you understand that inflation is a great benefit to those in debt, you will understand why governments and their economic advisers love inflation.

No intelligent person thinks Keynesian economics (the more you spend the richer you become) or MMT make sense. A child can see the flaws. But they provide cover for politicians to do what they love to do: buy votes and spend like drunken sailors, rewarding their friends and backers.

And that applies to all parties.

#188 Don Guillermo on 07.06.21 at 12:00 pm

#169 Dharma Bum on 07.06.21 at 9:08 am

Italy is far from perfect, but, they have provided many great things to the world:

Lasagna
Tomato Sauce
Bruschetta
Parmigiano Reggiano
Prosciutto
Gabagool
Cannoli
Salami
Braciola
Bologna
Polenta
Gelato
Panzanella
Focaccia
Mozarella
Ciabatta
Carabinieri
Marconi
Volta
Jacuzzi
Ferrari
Montessori
Zamboni
Mafiosi
Mamma Mia
Political corruption on a grand scale
Dolce Vita
**************************************
Can I add a couple of favorites to the list?

Pasta Carbonara
Vinos Brunello di Montalcino

Mille Grazie Italia!

Love that place.

#189 Ray Skunk on 07.06.21 at 12:04 pm

Canada has one of the lowest Debt to GDP Ratio among western countries.

That old chestnut. Always referring to federal debt.
Roll in provincial debt and then see where we’re at.
There’s only one taxpayer who has to cover it all.

#190 ImGonnaBeSick on 07.06.21 at 12:07 pm

#170 George S on 07.06.21 at 9:10 am

I think that if 40% of the population are taxpayers then a $1T national debt means that each taxpayer owes $70k. To pay it off at some point in the future would require each taxpayer on average to pay the equivalent of a $70k mortgage extra tax every year for 25 years. At 5% it would be an extra $5000 per year in taxes for 25 years. If you make it proportional that would mean a person making the average annual income in Canada would need to pay that amount extra.

—–

If only there was an option to just pay your portion off and then be able to opt out of all future taxes. I would be writing the $70,000 cheque tomorrow.

#191 Derek Halton on 07.06.21 at 12:21 pm

Garth, the US 10 year bond yield is 1.36% today. Remember when it was 1.75% just a few months ago. Inflation so high and interest rates dropping. Looks like central banks don’t want to give up. This they are pushing too far and things are going to back fire big time in coming years.

#192 Capt. Serious on 07.06.21 at 12:29 pm

Inflation to the rescue? Might be the only way out.

#193 Marxist on 07.06.21 at 12:32 pm

Mayor John Tory and Adam Vaughn are laughing at us plebs:

https://www.blogto.com/city/2021/07/fence-bellwoods-encampment-clearings-staying/

This is a public park, yet private security is being funded with public taxpayer dollars to exacerbate the homeless crisis.

Toronto cops being paid $100 OT pay per hour to evict the homeless.
I’d wager at least $50,000 a day is being spent to evict the homeless from a public park.

#194 Capt. Serious on 07.06.21 at 12:37 pm


#157 gregonomic on 07.06.21 at 4:30 am
Surely a broad-based land tax has to be thrown into the mix at this stage? Is there a political party in Canada that is considering/proposing this?

There is no way that will be proposed by any political party. Political suicide. Something like 70% of households own property. Do the math.
Expect more pesky user fees and stealth taxes because what you don’t think about daily is an easier way to deal with increasing government revenue.
Recall people railed about the introduction of the GST, even through it was ostensibly revenue neutral because it just moved a hidden tax out into the light. You can’t reason with people, especially voters.

#195 KLNR on 07.06.21 at 12:40 pm

@#104 crowdedelevatorfartz on 07.05.21 at 7:40 pm
@#68 Faron
“Drop us a line when you three are done making fools of yourselves. The Jaguar incoming to join that party in three… two… one… Job#1 in three… two… one… IHCTD9 slightly later when he will tell us about his native buds who were never raped in school so it musta never happened+

+++

As for making a fool of one’s self.
You only need to look in the mirror.
After your comment #58 where you discussed the most disgusting event you ended it with ….. LOL

The most inane, vapid three letters in cyberspace.

Good to know you can laugh while discussing sexual assault.
But the history isnt the point…is it.
It’s all about YOU always being right.

Sad..

pot calling the kettle black, again.

sad indeed.

#196 Steven Rowlandson on 07.06.21 at 12:53 pm

“politicians who promise less”

Sorry Garth but those are not allowed on the ballot and their parties are illegal, censored and or lied about.
Only the spendaholic PC crowd is allowed… For now.

#197 kommykim on 07.06.21 at 12:54 pm

#92 Sail Away on 07.05.21 at 6:54 pm

Well, I’ve never sailed near a hurricane and wouldn’t want to. There’s enough boat noise and body launches in a regular old gale. If we bought a cat, it would be tradewind sailing with lots of time at anchor in the tropics, where the big deck really shines.

There are some pretty stable bluewater cats, and really, bluewater is all about accepting some risk so if the worst were to happen on a passage… oh well. Nobody lives forever. When the time comes, that’s my preference anyway- screaming winds, huge breaking seas, no possibility of rescue… the Kraken unleashed! I’d happily bob around in that until hypothermia took over. My small donation to the food chain.

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

There really was no choice as far as the hurricanes were concerned. Our 3 year trip in the early 80’s took us from BC, down the west coast to Mexico where we encountered our first one near Cabo San Lucas. Luckily, we made the right decision, headed into deeper waters, away from the coast, and rode it out at sea. Others at anchor did not fare so well:
https://www.latitude38.com/lectronic/tell-us-what-you-really-think/

From Mexico we went west to the Marquesas Islands, Tahiti, Fiji, Cook islands, New Zealand, back via Tahiti (And a ton of other little islands) up to Hawaii and then back to BC.

We saw lots of Cats and Trimarans down the coast of the USA, Mexico, and New Zealand, but once we got deep into the Pacific they were few and far between. Just not sea worthy enough. Once you are out there, a 1000 miles from any land masses, you are 100% on your own with nowhere to run. If you got lucky you could find what is called a “hurricane hole” (Basically a VERY well sheltered lagoon surrounded by high cliffs or hills) if you were close enough to get to it in time.

Oh and you won’t die from hypothermia in the tropics, but drowning is an option as are the sharks. Everyone fears death when it is near. Bravado is easy when death is just theoretical. The way to stay alive is to ensure that your boat stays afloat and upright. So choose the right boat, because your life will depend on it.

#198 Sean on 07.06.21 at 1:16 pm

> The shift in ownership will be from what is normally called Crown ownership to Indigenous ownership, “Not for the entire province but…for fairly large chunks of it,” he said.

That sounds insane, but let’s entertain this possibility and suppose they get it for free or below market value and immediately flip it by selling land to a not-so friendly foreign government (or governments).

That wouldn’t surprise me at all.

#199 Barb on 07.06.21 at 1:40 pm

“…on Trudeau’s announcement yesterday…”
———————————-

T made an announcement yesterday?

See?
No CBC radio or TV is working.
Love it.

#200 Shaun on 07.06.21 at 1:43 pm

#153 Jon B nailed it
Plan accordingly

#201 crowdedelevatorfartz on 07.06.21 at 1:51 pm

@#195 WKRP
“pot calling the kettle black, again.”

+++

How’s Les Nessman doing?

#202 45north on 07.06.21 at 1:53 pm

Unless government spending actually crashes; unless then 40% of families who pay no net tax start contributing; unless we come to our sense and elect politicians who promise less; you’re pooched. Not the Boomers. Not the billionaires. The middle, and especially your kids. And their children.

The virus was bad. Worse beckons.

yep

#203 Sara on 07.06.21 at 2:10 pm

#181 Sail Away on 07.06.21 at 11:25 am
#175 Sara on 07.06.21 at 10:09 am

Sorry SA and IHCTD9, but research does not support your presumed “logic.”

———

Oh, thanks Sara, haha.

Just one tiny little point… the Aviary Recovery Centre advertisement is not, you know, like, research.

Of course, one can choose to believe it is. Choices are powerful.

————————-

The source of the quote I referenced was from The American Society of Addiction Medicine, USA’s leading addiction medicine society representing physicians, clinicians and other professionals.

What else you got?

#204 Sara on 07.06.21 at 2:14 pm

” What is the definition of addiction?

Addiction is a treatable, chronic medical disease involving complex interactions among brain circuits, genetics, the environment, and an individual’s life experiences. People with addiction use substances or engage in behaviors that become compulsive and often continue despite harmful consequences.

Prevention efforts and treatment approaches for addiction are generally as successful as those for other chronic diseases.”

https://www.asam.org/Quality-Science/definition-of-addiction

#205 Sara on 07.06.21 at 2:19 pm

#178 crowdedelevatorfartz on 07.06.21 at 10:47 am
@#175 Social worker Sara

yeah yeah,
Addictions are a disease.
Hand me a free coffee its my turn to speak.
================

I could be wrong, but pretty sure the experts on addiction know more about its etiology than you do.

#206 Adam on 07.06.21 at 3:11 pm

Not a big fan of this article. No one said they were going to raise taxes from 54% to 100%. So using that as an analogy is kinda weak. Raising taxes from 54% to 57% won’t cause a huge hurt to the rich. Years down the road it may ripple but by then who cares, we’ll all be old and dead. I think this generation should be called the “ME2”. It is perfect – think about it. “ME2 = Millennials #2” but it also means “Me Too” which is exactly what this generation is all about. “ME TOO!!!”. Maybe your next article should be called “The ME2 generation”.

Taking 57% of what people earn will not solve any debt or deficit problem. So why further kill incentive? Maybe the best course of action is to demand, and expect, less from government. It will be the future generations paying the price for this. Not mine. – Garth

#207 Flail Away on 07.06.21 at 3:19 pm

#181 Sail Away on 07.06.21 at 11:25 am

Seem to be failing to not be addicted to posting here. Fail Away perhaps?

#208 Sail Away on 07.06.21 at 3:22 pm

#203 Sara on 07.06.21 at 2:10 pm
#181 Sail Away on 07.06.21 at 11:25 am
#175 Sara on 07.06.21 at 10:09 am

Sorry SA and IHCTD9, but research does not support your presumed “logic.”

——–

Oh, thanks Sara, haha.

Just one tiny little point… the Aviary Recovery Centre advertisement is not, you know, like, research.

Of course, one can choose to believe it is. Choices are powerful.

——–

The source of the quote I referenced was from The American Society of Addiction Medicine, USA’s leading addiction medicine society representing physicians, clinicians and other professionals.

What else you got?

———

The quote is a quote from an organization.

Can you please link the supporting research you mentioned?

#209 Sara on 07.06.21 at 3:42 pm

#208 Sail Away

“The quote is a quote from an organization.

Can you please link the supporting research you mentioned?”

==================
Gotta love how you deflect to save face. hahaha

You started this conversation with your insistence that “addiction is a choice”, remember? Why don’t YOU show me the research to prove your “logic”?

#210 SoggyShorts on 07.06.21 at 3:54 pm

#206 Adam on 07.06.21 at 3:11 pm
Not a big fan of this article. No one said they were going to raise taxes from 54% to 100%. So using that as an analogy is kinda weak. Raising taxes from 54% to 57% won’t cause a huge hurt to the rich.

*****************
You aren’t a fan because you just don’t get it. The point is that even an increase to 100% wouldn’t have a big impact, so your proposed 3% hike would do nothing.

Those at the top pay about half of the taxes. Increasing how much they pay from 54% to 57% would increase the total revenues for taxes by under 2%

Do you know what impact a 2% increase in revenues will have? None. So you piss off the top for virtually no gain and possibly even a loss as they flee to more hospitable locations.

#211 Sara on 07.06.21 at 4:08 pm

To the pro-choicers (SA, CEF, IHCTD9), from the NIDA (National Institute on Drug Abuse) – the lead federal agency supporting scientific research on drug use and its consequences – part of the NIH (National Institutes of Health):

“Many people don’t understand why or how other people become addicted to drugs. They may mistakenly think that those who use drugs lack moral principles or willpower and that they could stop their drug use simply by choosing to. In reality, drug addiction is a complex disease, and quitting usually takes more than good intentions or a strong will. Drugs change the brain in ways that make quitting hard, even for those who want to. Fortunately, researchers know more than ever about how drugs affect the brain and have found treatments that can help people recover from drug addiction and lead productive lives. ”

http://www.drugabuse.gov/publications/drugfacts/understanding-drug-use-a

#212 Sara on 07.06.21 at 4:10 pm

Copy/paste error. Link from prior comment is:

https://www.drugabuse.gov/publications/drugfacts/understanding-drug-use-addiction

#213 Sail Away on 07.06.21 at 4:29 pm

#209 Sara on 07.06.21 at 3:42 pm
#208 Sail Away

Can you please link the supporting research you mentioned?”

——-

Gotta love how you deflect to save face. hahaha

You started this conversation with your insistence that “addiction is a choice”, remember? Why don’t YOU show me the research to prove your “logic”?

——-

??

What deflection?

You said research doesn’t agree. If you’re going to interject an appeal to authority supporting your point, then show us this research.

Why would I show research? I never claimed its existence.

Geez Louise.

#214 Tudval on 07.06.21 at 7:05 pm

It’s peak house every spring. Until next spring.

#215 Sara on 07.06.21 at 8:18 pm

@SA,

I understand that it is wounding for you not to “win” against an anonymous blog dog who goes by “Sara”.

Neurotypicals find that sad and pathetic.

#216 BCWally on 07.06.21 at 9:03 pm

Just read this report: https://www.bankofcanada.ca/2021/05/financial-system-review-2021/
Housing in general has been identified as the #1 risk to the financial system. Ok, so then I read the Captain Obvious statement of the people with minimum down payment are the most likely to suffer financial distress in a downturn. No further comment.
Well, you people at the central bank that read this blog please tell your boss he needs to set up a task force to identify cross party risk in the 20% down payment lending market. That would include the bank of Mom, alternate lenders, and especially the HELOC industry.
That needs to happen like yesterday.

#217 S.Bby on 07.07.21 at 12:20 am

#149 Nonplused

I think you are trying to be sarcastic and say my idea is no good, but rather than thinking in extremes and using a silly example you could think logically and assume there would be some sliding tax scale for longer term ownership at a reduced tax rate.

#218 Sail Away on 07.07.21 at 1:16 am

#215 Sara on 07.06.21 at 8:18 pm
@SA,

I understand that it is wounding for you not to “win” against an anonymous blog dog who goes by “Sara”.

Neurotypicals find that sad and pathetic.

——–

You speak in riddles, Neuromancer.

#219 wiggleroom on 07.07.21 at 9:46 am

Re: addiction. Most of our behaviours are not choices, but habits. Behaviours become habitual via reward based learning. If it was once of benefit to us, our brains remember this, and keep doing it.

Addictions are different types of habits in that they were at one point useful, and our brains took note of that fact, but after many times on loop, they’ve outgrown their usefulness and have become detrimental or damaging. The question then is : can we will ourselves out of a damaging habit /addictive behaviour? Current science says: no. Willpower doesn’t work – we have to retrain our brains out of the original reward based loop, and find a bigger, better reward.

Is addiction a choice? Yes and no. Short answer: no, because willpower alone can’t change addictive behaviour.