Class war

Soon an election (Sept. 20). Then a budget. And the ugliness begins. Pandemic spending’s been off the charts. The country’s debt has exploded and new red ink hemorrhages monthly. Revenues are swamped by expenses. The status quo is no option.

Who should pay more?

Well, if you’re a teacher in Ontario you just signed up for the ‘Tax the Rich’ campaign. The 83,000 members of the Elementary Teachers Federation are now part of a 35-member coalition urging Justin Trudeau to drop the hammer. “Fairly tax the rich,” it says, and Hoover off “excessive profits made by large corporations during the pandemic.” Oh yeah, and kick the 1%ers by “demanding the closure of tax loopholes that allow wealth to be hoarded.” I guess like the RRSP.

Ben’s wife teaches. This is what her colleagues sent her yesterday:

“I found this interesting,” he says. “It speaks for itself, but I was shocked that this is being pumped out as the narrative to all the teachers…who generally tow the party line. Also considering what they pay a top scale teacher these days, 100k+, gold plated pension and benefits, time off etc etc….I find the whole thing almost comical with the stats you throw out with how much taxing the “rich” will really produce.”

Okay, blog dogs, reality check.

The average household income in Canada is $50,476. Currently 40% of all families pay no net federal tax – a number which has increased primarily because of the Canada Child Benefit. The average income for senior couples is just over $70,000, thanks to CPP, OAS and retirement pensions (now dwindling).

By the way, there are some 27,000 people in the top 1% of the nation’s income grid, where the income tax rate is 54%. There are 2.8 million in the top 10% – which apparently includes a lot of teachers – where the tax rate is 31%. In Ontario, for example, elementary teachers average $91,000 and that increases with years served and administrative roles. (To be in the top 10% takes an income of $134,000.)

But let’s consider two factors that skew this average compensation. For example, teachers do not work a 52-week year (minus vacation time) as do the majority of Canadian employees or entrepreneurs. The school year is a maximum of 194 days, from which at least seven are deducted for ‘professional development’ (skiing). That reduces days worked to 187, or 70% of the time demanded by most employers.

(Of course teachers will argue that many hours of prep time are required. But they are not alone.)

Additionally, pensions are a critical factor. Most teachers enjoy a defined benefit (DB) plan providing up to 60% of the best five years of income, for life. That’s light years above the cash flow in retirement from the average crappy insurance-company-mutual-fund corporate defined contribution (DC) plan. And 70% of Canadians have none. Of course, the pension is not free to teachers. In Ontario, for example, they must contribute 10% of wages to the CPP limit ($61,600) and 12% above that. For someone earning about $80,000 that comes to $8,500 a year. This is matched 100% by the government and school boards. There’s also a bridge until age 65 to make up for CPP contributions. Pensions are indexed. Benefits continue. It’s a sweet deal.

Now, this it not to slam teachers. Lots of them in my family. We need ‘em. Just like cops, soldiers, nurses, the fine folks at the CRA, paramedics, transit workers and every other public employee who helps keep society greased. The point instead is to underscore that the problem is not a few successful people who may pay too little (doubtful, given current tax rates) but rather the many who need to pay more. If we continue to elect governments determined to open the spigots, borrow historically and run up debt for the centuries, we all must be clobbered. Equally.

The teachers’ union is being political and irresponsible. So is Jagmeet Singh with his whimsical ‘wealth tax.’ There is no untapped, hidden, hoarded pool of money large enough to allow so many in the country to avoid tax entirely. It’s a failed view of the world. Time will make this evident, as your children will learn.

In the meantime? Oh boy, are we hard-working, successful, pension-less, 365-day-a-year homies ever in for a drubbing.

Stay tuned for counter measures.

About the picture: “I’ve been reading your blog now for over 10 years,” writes Kevin with an MSU, “I really just want to say thank you for the time you put into this and for what you taught me over those years. This is my 9 year old black lab Tanny on our adventure to Valemount in July.  She loves running bike trails, eating chicken and morning walks.  She still goes hard for a 9 year old, just sleeps a little harder and the bike rides are now at her pace instead of mine. Hopefully she can make your page.”

248 comments ↓

#1 crowdedelevatorfartz on 08.12.21 at 3:15 pm

Tax the “rich”?
The people in the top 1% will just leave.
The “rich” in the next 10% ( Doctors, Business owners, etc) will consider leaving….

Well done Canuckleheads.
Voting for Trudeau and or the NDP will just accelerate the demise of this once great land.

Perhaps people will finally “get it” when the Canuck peso is at $0.50 to the US dollar.

#2 Stoph on 08.12.21 at 3:18 pm

The ‘rich’ these days is anyone making more than the person who is talking.

#3 Ken on 08.12.21 at 3:20 pm

2/2/2: Start by raising sales taxes 2%; raising every level of income tax by 2%; and cut public salaries by 2%. Also, time to cut expenditures by 2%. Will it hurt — yes. Is it necessary — yes. Better we do it ourselves before the rest of the world (think credit agencies) force our hand.

#4 Trojan House on 08.12.21 at 3:20 pm

This is really disgusting. Not only do elementary school teachers get paid really, really well, so do high school teachers. In Ontario, the average high school teacher makes $104,000 while in Toronto, it’s $109,000. I would argue that teachers ARE the rich! Therefore, I think they should be taxed more.

#5 Bob on 08.12.21 at 3:21 pm

Garth, you seemed pretty certain the election would be called last week, but so far crickets. Even the newspapers have started referring to the “rumoured” election. Has something changed? How certain are you than an election call is imminent?

#6 Stan on 08.12.21 at 3:24 pm

Let’s add in the value of the pensions to the “wealth” that is about to be taxed.

#7 Km on 08.12.21 at 3:27 pm

The scary part is that many do believe there is an untapped spigot that only the rich can fix. Amongst my friends it is the ones in the service industry who do not declare any tips and my middle class friends who live off credit cards and have never heard of the expression save the money before you purchase an item. That would mean forgoing eating out etc and lifestyle changes so that will never happen, they deserve to have this lifestyle and stuff right now. Better to point the finger rather than accept we all need to pay our fair share.

#8 Flop… on 08.12.21 at 3:30 pm

If I have to pay more taxes, ah well, minimize and move on.

If they come for my second taxpayer sponsored ice-cream break I will bring in the union…

M47BC

#9 Stoph on 08.12.21 at 3:30 pm

Jag wants universal pharmacare, dental care and mental health coverage. Great news for retiring Boomers who won’t be footing the bill. I suppose the saying: “Be part of the change or be run over by it,” is true after all.

I could support extended coverage for children – it’s not their fault if their parents’ don’t have the money for proper medical coverage. They’ll also be the ones paying for it in years to come once they are adults. However, making it universal, represents another wealth transfer from the young to the old.

#10 Habitt on 08.12.21 at 3:30 pm

Folks in the public services like teachers are the wealthy in our society. Btw sir Garth is that 54% the marginal rate for those high income earners? Thank you for any response and the daily effort you put in.

Yes, marginal. – Garth

#11 Albertaguy in AB on 08.12.21 at 3:30 pm

Pot meet kettle

#12 Another Deckchair on 08.12.21 at 3:37 pm

Hey, seeing as by definition ANYONE living in Canada is among the top few % of the world income pyramid, how about just upping the GST?

I mean, we are all rich here, so let’s share the pain! We elected Trudeau, so it is our collective duty to help. ;-)

#13 Millennial 1%er on 08.12.21 at 3:39 pm

I’m already planning to move to the states because my taxes are too high (TN status baby) and I’m not really “rich”

Do people seriously think they can make rich people pay taxes?

#14 TheDood on 08.12.21 at 3:40 pm

Wow. This demonstrates perfectly how easy it is for a small group to brainwash others – remember, Teachers are university educated – through misinformation.

No doubt JT and Jag will be at podiums across the country in September, ‘We heard you Canada’, tax the rich it is!

The villagers will cheer it on, rich people will leave (with their money of course) and the net result will be a poorer Canada.

Clap……..Clap……..Clap! Nice.

#15 Alberta Ed on 08.12.21 at 3:41 pm

Seniors will get a 10% boost in OAP next year, Sock Boy has promised, on top of the $500 bribe to those who will reach 75 by next June, to be deposited (totally coincidentally just before the election) this month.

#16 Mean Gene on 08.12.21 at 3:41 pm

Sounds like the teachers are shooting themselves in the foot, they will have to snag a summer gig to pay the extra taxes to the Man

#17 AM in MN on 08.12.21 at 3:42 pm

The economic illiteracy of the educated class in the western world continues to astound me.

Dad was a teacher 35 years, retired late ’90’s. We got the union rag mailed to the house every month, it wasn’t any different back then.

They don’t understand that they are now the protected class and they will pay, through inflation, property taxes (check out home ownership rates among teachers) and a general lowering of the standard of living as they help sink the ship.

Check out how teachers in say South America fare. Why should Canadian ones do better?

The only solution is the allow the industrial economy to grow and create real wealth. Money printing won’t do it, but too many government sector workers keep their heads firmly in the sand, feeling good about their “environmental” credentials when they help kill the next industrial project.

How many teachers feel good about killing the oil industry, make their kids watch Al Gores 90 min of fraud…every year, but then drive a gasoline car to work and take vacations down south in airplanes run on jet fuel, heat their homes and hot water from natural gas, use plastics…. the hypocrites just don’t stop.

#18 Prince Polo on 08.12.21 at 3:42 pm

I read between the lines and this is what they really meant:
ETFO joined 35 organizations to send a united message to the Justin Trudeau government that most Canadians will sell-out for the most free stuff, whilst also villainizin’ financially successful individuals, with absolutely no self-awareness that they are actually asking for themselves to be mercilessly h’m’r’d with higher taxes, a reduction in services, and/or a combination of both.

#19 TurnerNation on 08.12.21 at 3:43 pm

To FF and my handful of readers, gratitude.

— Chart of the Day: Pop, Corn:
https://finviz.com/futures_charts.ashx?t=ZC&p=h1

…..
– Bonus question: If ‘experts’ tell us a ‘4th wave’ is coming then why did they tear down the never used field hospitals in Vancouver, Toronto, Hamilton?

— YUP 2022-23 at minimum. It’s been said Australia, NZ are the test zones . Isolated island test beds. By now you know a main goal is control over our Travel/Movement.

.New Zealand borders to remain closed for rest of the year (bbc.co.uk)

.Australian capital Canberra goes into lockdown after 1 COVID case detected (ground.news)
“Australia’s capital Canberra to enter seven-day lockdown
Canberrans will be told not to leave their homes except for essential reasons, which include essential employment, healthcare, vaccination appointments, shopping for groceries or supplies and up to one hour of outdoor exercise.”


— There is NO Escape from the New System.

“Stanford University announced Wednesday the institution will require weekly COVID-19 testing regardless of vaccination status beginning Aug. 15 as cases continue to rise.”
https://www.nbcbayarea.com/news/local/race-for-a-vaccine/stanford-will-require-weekly-covid-19-testing-regardless-of-vaccination-status/2629826/

#20 Ken R on 08.12.21 at 3:43 pm

An old timer gave me some advice years ago; to build a marriage, a business or a career that lasts forty plus years takes work, a lot of work. That is why so few take it on. It’s much, much easier to sit on the couch and whine. That is why so many people take it on. One vote per person, we know where we are going.

#21 alexinvestor on 08.12.21 at 3:44 pm

A DC plan invested in the S&P index would have returned 17% annually for the past 10 years. I don’t think the teacher’s plan is beating this kind of return. Also, since CPI is probably underreporting real inflation, the fixed indexed benefits later on might not be adequate. I’m not saying that the teacher’s plan is bad (in fact it’s pretty good), but DC plans can be good too.

#22 CJohnC on 08.12.21 at 3:46 pm

It is scary to realize that this delusional pampered bunch are teaching our children.

#23 Linda on 08.12.21 at 3:46 pm

Define ‘rich’. Seriously. Are we talking actual $ in the personal bank account? Possessions? Ownership of RE of any kind? A work related pension of any kind? Just what constitutes rich in most peoples minds? Garth, maybe you could run a survey to determine what the blog dogs think rich is. For instance, many folks occupy RE but actual ownership remains in the hands of whoever holds the mortgage. So while the occupant(s) may have equity, they don’t yet own the RE outright. Ditto for anything that can be leased. Long as the payments are made you can use that asset. So do folks count leased vehicles as an asset they ‘own’ when totting up their net worth? I’d say it shouldn’t count, but what do folks think? Does the definition of rich equal any time your actual net worth exceeds any debt owing? By how much? Because there are likely quite a few people whose net worth is more than total debt owing – on paper, anyway. What does it take to be considered rich these days?

#24 morrey on 08.12.21 at 3:48 pm

Warren Buffett rule: is the basic principle that no household making over $1 million annually should pay a smaller share of their income in taxes than middle-class families pay.

#25 Hangover WAVE: IV on 08.12.21 at 3:48 pm

What’s that Canada?

You have a HANGOVER?

Take a LIBERAL MAJORITY and call me in the morning.

#26 Dolce Vita on 08.12.21 at 3:50 pm

I think you should have called today’s Blog:

Schadenfreude II

Envy. A Deadly Sin.

And, the ever ubiquitous:

Thou shalt not covet thy neighbour’s goods.

————-

Put an envy trip on Gov and get them to do the coveting for you.

Canadians have come a long way.

#27 Sail Away on 08.12.21 at 3:51 pm

Exactly the reason we maintain strict tax compliance with both countries as dual citizens.

Our money flows freely across the border like the mighty Columbia… and has sprouted beautifully lush, well-tended landing zones in both countries. If needed.

Trust family. Expect government to turn deadly at any time. Like a mad dog. Plan accordingly.

#28 Loonie Doctor on 08.12.21 at 4:04 pm

This narrative is popular and has been trundling along for a while now. I actually downsized and planned to go half-time before the pandemic hit. I kept working full-time or more at times because I was needed. Now that it is settling down, half-time will begin. If tax on productivity goes much higher, I will go to quarter-time. That is about perfect to keep my skills, enjoy it, and contribute. There are younger docs chomping at the bit to do the work I do. So, no harm done. However, I won’t beat my head against a tax wall. I will live quietly amongst the masses. The tall blade of grass will get mowed. It only becomes a problem if everyone decides to scale back.
-LD

#29 Cristian on 08.12.21 at 4:04 pm

“It’s a failed view of the world. Time will make this evident, as your children will learn.”

Not my children. We’re leaving Canada in 5 month and I hope my children will never come back to live here.
Like someone commented above, tax the rich and they will leave…
Why would I choose to stay here when I can pay no tax for 10 years in Portugal and get the dividends from my Canadian professional corporation as a Canadian non-resident with a tax of 15%?
I did not work so hard in Canada for 16 years starting from zero just to have the results of my hard work sucked by a greedy government and given left and right to people who did nothing to deserve it. Instead of emulating the rich and trying to also become rich, Canadians have turned into a nation that has no clue other than taxing the success.
Having been borne and grown up in an ex-communist country I know that this is the best way to crush initiative and make talent leave the country.
Bravo, Canada!

#30 UCC on 08.12.21 at 4:05 pm

#6 Stan on 08.12.21 at 3:24 pm
Let’s add in the value of the pensions to the “wealth” that is about to be taxed.

_______

Don’t forget houses. Fair is fair…..

#31 Leichendiener on 08.12.21 at 4:05 pm

Both Provincial and the Federal Governments should live within their means instead of trying to buy votes.

#32 James on 08.12.21 at 4:05 pm

Boomers will loose their Canada Pension Plans and OAS will be scaled back soon with this plan. So keep working gram-pa your going to need the income.

CPP is a member- and employer-financed defined benefit plan. It’s not going anywhere. – Garth

#33 Millennial Realist on 08.12.21 at 4:07 pm

“…the problem is not a few successful people who may pay too little (doubtful, given current tax rates) but rather the many who need to pay more.”

Holy cow, Garth, does this comment ever miss the elephant (or herd of them!) in the room…..

The standard of living and income for the “many” has been flat for decades.

The incomes available to meet the cost of basic living for the “many” is not enough anymore, mainly because the wealth gap, enriching the “successful” has exploded beyond all comprehension.

Thomas Piketty says it well.

https://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century

Be part of the change.

Or be run over by it.

(The train is leaving the station September 20)

#34 Wait There on 08.12.21 at 4:09 pm

So who’s teaching the kids?

The same people behind this? Think your kids will get critical analysis skills or just toe the line as the way to go and get manipulated.

What it smells like is they know if they don’t push the narrative they themselves will get whacked. So they agree to this so that the “rich” does not include them.

Same stuff all politicians play.

#35 Sail Away on 08.12.21 at 4:10 pm

With all this government stimulus in conjunction with stricter regulatory req’ts and higher material costs causing higher project costs, my engineering firm has raised rates 20% this year.

No complaints yet. Should we try another 10?

#36 Dolce Vita on 08.12.21 at 4:12 pm

Reuters:

“Canada PM Trudeau planning snap election, seeks approval for COVID response – sources”

https://www.reuters.com/world/americas/canada-pm-trudeau-is-planning-call-snap-election-sept-20-sources-2021-08-12/

Cdn MSM parroting the above since they’re too lazy to do their own journalism OR…

they recently received $80M+ bonus cheques from Gov Canada, no disclosure as to which Cdn MSM got the HUSH money.

——————-

If Trudeau runs on his Covid response and Delta explodes* in the next month and a half…

Conservative Gov.

MSM hush money will not deaden ambulance sirens…someone is bound to notice.

*It may well do with near 6M unvaxd Cdns and 23.7M single dosed Cdns.

= Delta Diner.

Vax rates…well I’ve used analogies like snowball down Everest, plummeting, dropping, into the toilet (and flushed); thus, i’m all out for today so come up with your own:

https://i.imgur.com/5BNrmpe.png

#37 Trojan House on 08.12.21 at 4:15 pm

Ever wonder why more big businesses didn’t go bankrupt during all the government shutdowns? This may be why:

https://www.newsweek.com/next-financial-crisis-coming-opinion-1617575

#38 Boomer Bill on 08.12.21 at 4:17 pm

#23 Linda

My definition of rich are my developer buddies who are centimillionaires and one who is a billionaires. One collects more rent per month than a person on minimum wage will make in a lifetime…

#39 CarrieinBC on 08.12.21 at 4:18 pm

So frustrating. I have friends here in BC hoping the NDP get in and now I have to rethink those friendships too. Have you seen TikTok Jagmeet? My gawd. It’s that bad. That they believe “taxing the rich” is the way to go is just more insanity. We’re being robbed in this country at every corner. Maybe they should consider taxing and/or fining stupid people. That should clear the deficit in record time.

#40 Ballingsford on 08.12.21 at 4:18 pm

Let’s face it, there’s not much left to tax or bring in much more revenue and have it make any noticeable dent in our deficit. That noose will be around our necks forever.

#41 Ivan the Moderate on 08.12.21 at 4:20 pm

The present value of DB pensions should be included in the calculation for personal wealth.

#42 Dolce Vita on 08.12.21 at 4:20 pm

Off topic.

Not so happy Cdn 8 hr ago on Twitter:

Another outage last night..think that’s 5 or 6 this summer. #thankyou
@HydroOne #muskoka. #minett
You guys are the bomb!

———

As to which I enlightened the upset Cdn:

Come to Italia.

35 deg C + 16000 Btu/h A/C + TV PC Speakers + Oven = elevator trip downstairs to untrip the circuit breaker.

———

Canada punishes all equally.

Italia punished me, singular.

#43 Ponzius Pilatus on 08.12.21 at 4:21 pm

Arnold Schwarzenegger has had enough.

The Terminator actor had some strong words for COVID-19 deniers and anti-maskers, which he shared to his Instagram account ‘on Wednesday. It’s captioned: “You have the freedom to be a shmuck. Just because you can, doesn’t mean you should.

#44 Rah Rah on 08.12.21 at 4:22 pm

Why aren’t people like me taxed more? I drank the Kool-Aid, sold the farm this spring and am renting a big house on 2.5 acres with the ocean a few feet away; it’s truly paradise. The profit from the sale, invested with TI, more than pays for the rental. I retired several years ago, now 64 and will probably get the GIS next year because I don’t take much of an income from my nest egg – simple man simple dreams. I will take any money the government chooses to throw at me though. My incorporated company was required to remit matching funds for CPP for the privilege of having employees so I feel justified in taking what is offered. However, maybe people like me should be hunted down and made to pay for the deficit? The CERB kept my son in his home for the first few months, which I’m grateful for and no matter what we think of T2 and his overspending, it has happened and people like me might need to pay a little more simply because we have it to give.

#45 IHCTD9 on 08.12.21 at 4:24 pm

I’ve already got a solid tax offsetting plan that has worked great for years. Didn’t even need it because as things turned out, Trudeau was desperate to pump tens of thousands worth of handouts into my bank account.

Never the less, I am planning even more – just to get ahead of the tax increases to come. Also, I have aged out of some of the handouts.

Big truck is going bye-bye, little diesel truck says hello. Quads will be sold – and likely for more than I paid for them 5 years ago. Profits and proceeds head to the HISA for now.

Rocket stove project from last year will be modified in accordance with what I’ve learned about its operation last year. I have an Indian guy I deal with in the GTA that knows a lot about these stoves from back home (cooking) and gave me a few tips which will also be incorporated.

I’ll be putting a big dent in both heating and transportation bills going forward. This in addition to the usual stuff I do to avoid costs and taxes.

In the end, I probably don’t make enough $ to worry about these nimrods in Ottawa costing me anything, but I feel I have a moral obligation to de-fund these twits on account of future Canadians.

#46 Niagara Region on 08.12.21 at 4:25 pm

Why harsh on teachers? Here are places to generate more tax revenue:

1. Tax cheats, especially Canadians who off-shore money to keep it hidden from taxation, as revealed by the Panama papers:
https://www.cbc.ca/news/canada/cra-panama-papers-audits-5-years-1.5974690

2. Wealthy corporations and their excessive tax loopholes. A staggering number of wealthy corporations in the US routinely pay no federal tax (e.g., Microsoft, Amazon, ExxonMobile). Canada fails to tax corporations fairly:
https://projects.thestar.com/canadas-corporations-pay-less-tax-than-you-think/

3. Up the capital gains tax on real estate that is used for speculation. Only 50% of the capital gains on real estate are taxed, unlike workers’ salaries and wages (including that of teachers), 100% of which is subject to tax.

(a) Done. (b) US data. (c) Investors buy houses people get to live in. – Garth

#47 Dave on 08.12.21 at 4:27 pm

Why pick on teachers? If you are going to tax the rich, then target financial advisors, whom are grossly overpaid for what they produce. Charging $200/hour… do the math. How long does it take to become a financial advisor. Many don’t even have a degree. What about the 1% of a client’s assets they charge–regardless of how the assets perform? These people are grossly overpaid, especially for what they produce.

How about providing financial content seven days a week? For free. Outrageous. String ’em up. – Garth

#48 XGRO and chill on 08.12.21 at 4:33 pm

I thought Justin already raised taxes on the top 1%, and then gave the middle class a tax cut. It ended up not being revenue neutral.

Are we ever going to let evidence guide our policies? Or keep letting emotion drive them?

I would love to see the rich get taxed more – something more fair – but it seems like a dicey proposition that may not work. We risk capital flight, and the cost of enforcement can negate the tax. To arrive at a sensible policy, we need an honest and reasonable discussion about it, not partisan politicking about it.

Teachers complain they require lots of prep time and time to grade papers. I agree they do. At the start. Then once they’ve made course materials (guess what, algebra and Hamlet never change), they just re-use them for the rest of their career. They get more clever with assignments and marking to reduce the time spent on that. They also get time during the day to do these things…

#49 Love_The_Cottage on 08.12.21 at 4:33 pm

#5 Bob on 08.12.21 at 3:21 pm
Even the newspapers have started referring to the “rumoured” election.
_______
Will be called this Sunday for Sep 20 as widely reported on the interweb. Newspapers still exist? LOL.

#50 WEXIT on 08.12.21 at 4:34 pm

Excellent column Mr. Turner. I echo those views.

Thanks for all those dog photo daily, something I do enjoy.

#51 S.Bby on 08.12.21 at 4:38 pm

What can we say about teachers? They are beholden to their left-wing unions. Most teachers have no clue of how the real employment world works. Many are not very good but a few are. I have two kids in public school and it’s been an eye-opener for me.

#52 Millennial Realist on 08.12.21 at 4:40 pm

Under conservative, Republican President Eisenhower, the top tax rates were over 90%

90%

90 PER CENT.

This is not a rumour, it has been fact checked. Read here:

https://www.politifact.com/factchecks/2015/nov/15/bernie-sanders/income-tax-rates-were-90-percent-under-eisenhower-/

What did that accomplish?

The greatest, fairest economy the world has ever known. Prosperity for almost the entire middle class. Social justice and fairness. Shared public interest in dealing with issues, instead of partisan bickering and echo chambers, manipulated by elites like we have today.

90% tax on top earners would be a good start today.

We desperately need this to deal with the climate emergency and so many other issues.

Like, yesterday.

Be part of the change.

Or be run over by it.

#53 crowdedelevatorfartz on 08.12.21 at 4:44 pm

@#5 Bob
“Garth, you seemed pretty certain the election would be called last week, but so far crickets. ”

+++

Several months ago Garth mentioned “mid August” for the election announcement”
Last week he said “August 14″ for the election announcement.
The media is now spewing out Trudeau’s ‘looming” announcement.
So unless Trudeau wants to tempt fate and call the election tomorrow , Friday the 13th….
I’d say , so far, Garth’s batting 1000

#54 Dave on 08.12.21 at 4:44 pm

“How about providing financial content seven days a week? For free. Outrageous. String ’em up. – Garth”

OK, we appreciate it, though it must be good for business…

#55 Ponzius Pilatus on 08.12.21 at 4:44 pm

#148 Sail Away on 08.12.21 at 1:46 pm
#141 TheDood on 08.12.21 at 12:34 pm

…the underlying message in this instance is that you can drive like an idiot, kill an innocent child, and here’s $50k to go get a new car. For the victims, here’s $30k for your loss. What a pathetic system!

——–

The article said there were no charges in the accident.

Logically, if a child is killed in a fault-free accident, why would insurance pay a monetary settlement to the parents? Loss of a child does not represent economic damage to the parents.
———–
I know it sounds harsh, but I gotta go with Sailo on this one.
The legal system should not yield to emotions, only facts.

#56 Yukon Elvis on 08.12.21 at 4:48 pm

Ha! Been saying it for years. It is the “haves” vs the “have nots”. Have nots will win cuz they outnumber us at the ballot box and can vote themselves free stuff. And they will. Countermeasures? Bury your treasure in the backyard or on a beach in the Caribbean like Captain Jack Sparrow. Some place where the pinko commies cannot see it or reach it. The underground economy is gonna be yuge.

#57 S.Bby on 08.12.21 at 4:50 pm

#41 Dave

You want to talk no qualifications or education; what about realtors?

#58 Niagara Region on 08.12.21 at 4:51 pm

A fourth place to find more tax money:

FOREIGN WARS. Canada fought in Afghanistan from 2001-2014 at the cost of $18 billion:
https://opencanada.org/indepth/afghanistan-review-looking-back-canadas-longest-war/

The US spent $6 trillion from 2001-2021 in the wars in Iraq and Afghanistan (source:https://www.democracynow.org/2021/8/11/taliban_territory_seizures_afghanistan).

In both cases, the costs will continue, due to disabilities incurred by veterans. If Canada and the US stopped participating in wars for which we have very problematic reasons for engaging, both countries would have vastly more money to spend on the needs of their own domestic populations.

Attacks by one group of workers against another (e.g., teachers) merely results in a fight to the bottom for all workers.

#59 Ldd on 08.12.21 at 4:51 pm

Put a mileage tax on all the electric cars like Joe Biden.
The drivers aren’t paying their fair share, dodging the gas tax.

#60 ogdoad on 08.12.21 at 4:52 pm

Maybe we should be focusing on the people who have/earn less than middle class, entitled babies. Let the rich be rich…Garth, as you said, grease is within the workers. Increase social capital amongst this class. Build trust, not walls. Wait and see. Rich want to make sure that their life is that much better than yours and they’ll be happy. Let them have it – but they should pay their appropriate levies, not be skewered. There are some that actually deserve it.

It’s the rest that feel inadequate…why? That’s the question. Housing, cars, boats, 1M gifts…Bull shit…if you actually care, shocker, you have no life that matters, that is. Lack of society, lack of trust. And honestly said, too easily FOMO’d

Time for a Blue Lobster.

Og

#61 R on 08.12.21 at 4:53 pm

I believe a sad reality exists that many people, through social media, can find their own echo chamber and totally believe they are right, no matter what nonsense it is. I was talking to our [email protected] (we are shifting TFSA & RRIFs from spousal benificieries to successor holder) and she said her 30 year old living at home son did not want to get a vaccination because of potential heart risks . he couldn’t do the risk math. ( very low risk of heart issues taking the vaccine, very high risk of serious complications by not taking the vaccine). Many people no longer have beliefs attached to facts or science. South of the border, the states that have lower vaccination rates are the ones that believe in open and carry a fire arm for self protection. HELLO ! irony ! Taking a vaccine is all about self protection, it protects you from getting really sick .I just have to keep my heads down, live quietly among the masses and STFU.

#62 crowdedelevatorfartz on 08.12.21 at 4:54 pm

@#29 Dave the Teacher’s pet
“Why pick on teachers?”
++++

Hmmm.
Let’s seeeeee.

Excellent wages and benefits guaranteed by the union..

Taxpayer guaranteed and subsidized pensions.

1 Pro “D” Reduced work week per month (usually tacked onto a long weekend).

Two weeks off at Christmas.

Two weeks off at Spring Break.

Two MONTHS off at Summer Break.

School trips to ski, hike, swim, watch concerts, plays, , etc.,etc., etc..

Yeah.
Rough.

#63 Nonplused on 08.12.21 at 4:54 pm

I think a lot of this can be attributed to the failure of the education system. We spend all this time teaching our kids how to do trigonometry but none on economics or even the basics of the economic system. Thus, empty headed people can make emotional pleas to “tax the rich” and it goes off without comment.

(By “empty headed” I don’t mean stupid, I mean uneducated. They simply know nothing of the tax system they criticize.)

The time for calls to tax the rich are long gone. It has been done. They are taxed. A lot. A so-called rich person in the 1% pays a lot more taxes, both outright and as a percentage of income than anybody else does.

But yet it is not enough. “We must tax them more in the name of fairness!” say the masses. “We must tax their wealth!” they say.

Let’s leave aside the fact that wealth is not money and that wealth is taxed via capital gains taxes when it is converted to money for now, that is a whole essay in itself and we have gone over it before.

Let’s look just at income tax.

The income tax system in Canada is progressive. The basics of it is:

2020 Federal income tax rates
$48,535 or less – 15%
$48,535 to $97,069 – 20.5%
$97,069 to $150,473 – 26%
$150,473 to $214,368 – 29%
More than $214,368 – 33%

Provincial tax rates are on top, which can push the over $214,386 total rate to over 52%

So, the tax system means everybody, doctors and ditch diggers included, pays 15% on the first $48,535 (minus the personal exemption, the tax rate to $17,000 or so per year is zero). In fact everyone pays the same tax rate on the first however many dollars as you step up the ladder. But the further up the ladder you go, the more the tax rate on the money in that rung, until finally you reach the magic number of $214,386, at which point any further income is taxed as high as 52%.

So for Ontario, someone earning $48,353 per year pays $10,050 in federal and provincial taxes and EI/CPP premiums for a total rate of 20.80%. Pretty steep.

Now let’s pump in $1,000,000 and see what we get. Turns out this 1%er is paying $500,308 in federal and provincial taxes and EI/CPP premiums for a total rate of 50.03%. 50.03% >> 20.08%.

So we do tax the rich. A lot. The only question is then “do we tax them enough?” And “who is rich?” The other tax brackets are somewhat arbitrary as well, so who says a teacher isn’t “rich” by comparison to people who are lower down on the ladder than she is? Maybe all the brackets should go up, so long as the top bracket goes up the most?

That is why we have to be careful what we are asking for here. Tax increases will probably be scaled the same way the the current rates are. So those in the top bracket will be hit the hardest. But all the tax rates above $48,353 at 15% will go up. You know why? Because if you make more than $48,353/y, you are already considered rich. That’s why you pay a higher tax rate.

Be careful what you wish for here folks. By the arbitrary definitions involved in the tax system, you too are probably considered rich. Even teachers.

It’s great psychology though. By recruiting the teachers to join the “tax the rich” campaign, it’ll leave them with little to say when they find out their tax rates are going up too.

As that bank says, “You’re richer than you think”.

#64 Ponzius Pilatus on 08.12.21 at 4:57 pm

If teachers are rich, they hide it well, or have some good tax accountants.
I know 2 Principals and a few teachers.
Some are parents on my daughters hockey team.
I’ve been to their houses, got rides in their cars.
Pretty average, I’d say.
The parents who drop off their kids in an F-150 or a BMW are people like CEF, handy men, who’ve been riding the gravy train that is the Vancouver for the last 20 years.
Paying a plumber 80 bucks an hour, given his/her education is crazy.
These are the noveau rich.
Tax them hard and tax them often.
And stop the teacher bashing.
Try and spend a day in a classroom, and then report back.
Oh, that felt good.

#65 Soviet Capitalist on 08.12.21 at 4:59 pm

Translation:
Tax the rich = Tax anyone who’s not me

NDP wants pharmacare, …

I want ponies, butterflies and free lunches for everyone; also, please add world peace, cure against all diseases..
Anything else that I forgot?

Ah ,yes, since Trudeau and Singh are doing well personally, they should lead by example and donate 90% of their wealth to the government.

#66 Rook on 08.12.21 at 5:01 pm

Hi Garth, and readers.

Within the last month or 2 (maybe? Time flies), Garth wrote about how much of the deficit we could fund if we just confiscated all the rich people’s wealth, and it turned out to be a paltry sum.

Anybody have a link to that blog entry please? I can’t find it, but remember reading it, and would like to send some of my friends to read it, too.

#67 Doug t on 08.12.21 at 5:05 pm

#47 Dave

Haha man you walked right into that one dude lmao

#68 Bob in Hamilton on 08.12.21 at 5:05 pm

Canada has become a nation of rent seekers (in the classic economic sense)..or more bluntly, grifters.

#69 Barry on 08.12.21 at 5:06 pm

Good joke – guy dies and given a choice between Hell or Heaven. First he’s given a full day tour of Hell by the devil. There’s orgies, drinking and drugs galore because you’re dead so why fear Aids, liver failure or dependency? The next day he’s given a tour of heaven. There’s floating angels, prayer and a chorus singing sublime “hallelujahs” … how boring is that! So he votes the Hell option. Lo and behold there’s fire, brimstone and pitchforks. Shocked he looks desperately into the devil’s eyes and asks, “What happened to all the fun?” “Ah”, says the devil,”yesterday we were campaigning”.

#70 crowdedelevatorfartz on 08.12.21 at 5:07 pm

@#64 PeePee
“Paying a plumber 80 bucks an hour, given his/her education is crazy.”

++++

Well.
The next time one of your grand kids flushes your smart phone or the wife’s diamond ring down the toilet…..
Break out the tools and pull that poopy toilet.
Or when the Hot water tank packs it in on Christmas Eve because all the guests sleeping over need showers, dirty dishes washed, etc.
$80 bucks an hour to get the hot water back on will be cheap.

I feel like having a shower…..
Damn that felt good.

#71 Doug t on 08.12.21 at 5:10 pm

In the workforce you are paid according to how well you perform your job and if you excel at said job you may enjoy a raise or bonus – teachers get paid a high wage period, whether they are any good or not – when’s the last time you heard of a teacher getting fired ….period

#72 yorkville renter on 08.12.21 at 5:11 pm

My solutions:

– increase the HST by 1% or 2%
– create a transaction tax – $0.02 per
– everyone pays a flat 30% on income, no deductions

That should do it!

#73 Flop… on 08.12.21 at 5:16 pm

#64 Ponzius Pilatus on 08.12.21 at 4:57 pm

Try and spend a day in a classroom, and then report back.
Oh, that felt good.

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

Mrs Flop does it everyday without the good pay.

Girl is sick in the head.

She married me so the evidence was there.

Slowly going deaf,25 kids squealing in you ears all day will do that.

I figure by the age of 55 I will be able to say anything I want without repercussions.

Probably doesn’t need some Austrian Accountant to push her barrow…

M47BC

#74 Nonplused on 08.12.21 at 5:18 pm

#52 Millennial Realist on 08.12.21 at 4:40 pm

From the article you site,

“During the eight years of the Eisenhower presidency, from 1953 to 1961, the top marginal rate was 91 percent. (It was 92 percent the year he came into office.)

What does it mean, though? For the duration of Eisenhower’s presidency, that rate affected individuals making $200,000 or more per year or couples making $400,000 and above per year.

In 2015 dollars, that’s roughly $1.7 million for an individual and $3.4 million for a couple.”

So, effectively, you are proposing to save the world by taxing a few CEO’s at outrageous rates.

They can set the top tax rate to 100% if they like. It won’t bring in any more money if they set the income bracket so high it doesn’t hardly affect anyone.

—————————————–

So then there is another inherent inequality created by these super high tax rates. People tend to think of income as stable because their work-a-day job salary never changes by more than 2% per year, but especially for high earners it is often feast of famine.

Let’s look at hockey players. The minimum wage in the NHL was $775,000 USD per year in 2021. That’s a whack of cash. The bottom 75% of players, which will largely be the ones earning the minimum wage, is 2 years. Then they have to move on to used cars sales.

Sure, if they spend nothing while they are playing they could end up with $775,000 USD in the bank after 2 years at current tax rates, which is nothing to sneeze at, but it doesn’t make them very rich. They can annualize that at $60,000 a year Canadian with Garth’s help. Not bad, but not rich.

#75 AM in MN on 08.12.21 at 5:20 pm

#35 Sail Away on 08.12.21 at 4:10 pm
With all this government stimulus in conjunction with stricter regulatory req’ts and higher material costs causing higher project costs, my engineering firm has raised rates 20% this year.

No complaints yet. Should we try another 10?

——————————————————-

Same here. Just closed a deal for a bunch of transformers and switchgear for a big battery project in California. Prices up about 30% over last year, my cut is 5% off the top, so no complaints about the inflation on my end.

If the green new deal goes through as just voted on by the Senate, spending is going through the roof and I’m happy to sell.

It’s sad to see that there is no business champion in Canada to vote for. A great (missed) opportunity for a leader to call out the hypocrisy of Biden asking OPEC too pump more oil and killing the Canadian pipelines. Add to this the continued killing of the most responsible mining in the world while the push for minerals for EV’s and green energy with minerals from Africa and the Amazon.

The world needs oil, especially for jet fuel for the private jets that get one to Obama’s big bash!

Just can’t listen to anyone in Canada whine about money or their financial situation while accepting the killing of the industrial economy. Wish there were some Conservatives who could say this.

#76 Chappy on 08.12.21 at 5:23 pm

Currently 40% of all families pay no net federal tax- How does that compare with other countries Garth?

#77 Damifino on 08.12.21 at 5:26 pm

#47 Dave

How long does it take to become a financial advisor.
————————————

I don’t know. But I do know this:

They are not all created equal. Some are slackers concerned only with “making book” while others are devoted to client satisfaction and worth every penny they get paid. It’s up to investors to seek out honest and competent individuals and stick with them.

Your comment tells me you wouldn’t have the chops to survive 5 minutes in that game.

#78 Dr V on 08.12.21 at 5:28 pm

BD plans, too generous for their own good?

Friend’s wife is health worker, and has lost her “rule of 90” so may be working a bit longer than originally planned.

https://www.bcnu.org/news-and-events/news/2020/proposed-mpp-design-changes-would-have-serious-impact-on-nurses-retirement-future

“The proposed redesign removes the bridge benefit, the Rule of 90 (that allows members to retire early if their age plus years of contributory service add up to 90), and more than doubles the penalty for retiring early. These changes mean many nurses will be unable to retire as early as they want. For example, members who retire early will see lower pension payments from the month they retire to the month they turn 65. That reduction alone may make retirement more difficult for nurses.

When considering all three changes, some nurses who chose to retire early could see a loss of lifetime pension income as high as $300,000 compared to what they are eligible for under the current plan rules.”

#79 cuke and tomato picker on 08.12.21 at 5:29 pm

Yes spend a day in a classroom it is not easy.

#80 YVRTeacher on 08.12.21 at 5:32 pm

The remuneration and perks in teaching are good, as long as you’re in it for the love of the work.

Aside from the actual time in the classroom (what we got into it for), that includes hours of prep, marking, meetings, report cards, remaining current with pedagogy and technology (ProD days-when we’re not skiing), classroom discipline (of students whose parents are supportive and those whose parents are not), dealing with parents, dealing with administrators who are under different pressures, being asked by the Ministry of Education to do more and be more to students with a wide array of needs, (in enrichment, remediation, socialization, behaviour, emotions and physical) with fewer resources, prepare kids for jobs that don’t exist yet, instill a love of learning, and teach everyone to think critically … to name a few.

All you people who think that teachers have it so good, why didn’t you become a teacher?

#81 Richard on 08.12.21 at 5:32 pm

Arnold S, the terminator, I guess he is still pissed of from the divorce and lots of money, property he lost and probably is still paying. I don’t know why people still listen to Hollywood actors and give them such importance. They are relics of the past. They have an opinion okay but I have to buy things, follow everything they do just because they were in movies, TV etc.

Stick to doing your job on the screen and stop with politics.

#82 BlogDog123 on 08.12.21 at 5:35 pm

So Garth, the answer that nobody wants to touch with a 10-foot pole is this:

The biggest pool of tax ‘opportunity’ is the “wider” middle class. Folks who may make 70-150k per year range, let’s say. Tax the hell out of this group and “problem solved”.

Remember the real problem is a spending problem. Like why do we need a “minister of middle class prosperity” and that office budget. The $500 senior bonus in the last election. These are small items… Bigger ones are seniors goodies like “age credit”, OAS for rich people, drugs for seniors who can afford it already, free healthcare for hypochondriacs, millions in corp welfare, billions to Muskrat Falls, etc…

#83 Guy in Calgary on 08.12.21 at 5:36 pm

“Tax the rich” are merely buzzwords to trigger an emotional response to my generation. It means nothing in practice.

Unions should not be allowed to meddle in politics and lobby.

#84 Jim on 08.12.21 at 5:38 pm

I wish I had paid “professional development” days that always seem to fall on the Friday of a long weekend.

#85 JP on 08.12.21 at 5:38 pm

#64 Ponzius Pilatus:
“ Paying a plumber 80 bucks an hour, given his/her education is crazy.”

I enjoy some of your posts, however, I disagree with this statement. If you are a highly skilled tradesperson, the laws of supply and demand will to some degree dictate your compensation, and if it’s $80/hour then so be it.

I’m doing a higher degree at uni, and work with many profs and researchers. Some (not all) have a sense of entitlement – they feel that since they are highly educated, they should be paid more than those who are not. They become irked when they find out the plumber who fixed their hot water tank earns more than them.

This is misguided thinking that stems from envy, and I think from a sense of elitism as well. To become more educated at a higher institution of learning is, in my opinion, a worthwhile endeavour both for the individual and society as a whole. But, assuming that one should be paid more because of this education is unsound. There are many different types and styles of intelligence, and not all require a uni degree to develop.

#86 Yukon Elvis on 08.12.21 at 5:41 pm

#79 cuke and tomato picker on 08.12.21 at 5:29 pm
Yes spend a day in a classroom it is not easy.
+++++++++++++++

Spend a day in a sawmill piling lumber. It is not easy either.

#87 Hurtin' Albertan on 08.12.21 at 5:42 pm

Here come the election promises…

Jagmeet promises utopia:

– universal mental health care
– universal pharmacare
– universal dental care
– a $20 minimum wage
– student debt cancellation
– working with the provinces and territories to cap and reduce tuition fees and building towards making post-secondary education part of the public education system
– $10-a-day child care
– reintroducing 30-year terms to Canada Mortgage and Housing Corporation insured mortgages on entry-level homes for first-time home buyers
– creating at least half a million units of affordable housing in the next 10 years
– guaranteed livable income for all Canadians
– a price cap on cell phone bills
– continuing wage and rent subsidies for small businesses as the pandemic continues
– a Fair Gasoline Prices Watchdog to investigate complaints about gouging
– require large employers to spend at least 1 percent of payroll on training for their employees annually
– capping credit card merchant fees at a maximum of 1%

all to be paid for by:

– a one per cent tax on households with wealth of more than $10 million
– an increase in the capital gains inclusion rate to 75 percent
– a luxury goods tax on things like yachts and private jets
– an income tax hike of two points to 35 per cent for the highest bracket (currently $216,511 and above)
– a three-point hike to put the corporate tax rate at 18 per cent-
– a “temporary” COVID-19 excess profit tax that puts an additional 15 per cent tax on large corporations that recorded major profits during the pandemic
– closing loopholes that include eliminating bearer shares, compelling companies to prove the economic reason for their offshore transactions, and improving transparency on the taxes paid by large corporations.

https://www.cbc.ca/news/politics/ndp-commitments-election-1.6138451

https://globalnews.ca/news/8107440/election-ndp-platform-campaign-promises-singh/

https://mcusercontent.com/1dc08afe66f1672dba21b665e/files/1bf25874-6bf3-f550-0d92-e81ee5bc0901/Ready_for_Better_NDP_2021_commitments_LowRes.pdf

#88 Millennial Realist on 08.12.21 at 5:42 pm

Was Dwight Eisenhower really a left-wing SJW?

Seriously?

So, obviously, there are a lot out there who want to argue that Eisenhower, with his 90% tax rate on the wealthiest, was some kind of “commie”. Not a great post-war nation builder.

Hmm. Not very bright, sort of like the January 6 thugs and the anti-vaxxers out there.

Maybe they should grab their rifles and helmets and jump off the boat at Juno Beach to get an idea of what the war taught us, namely that we are all in this together, like it or not.

Sadly, under the fake leadership of complete idiots and class war-mongerers like trickle-down fraudster Ronnie Reagan, the last 50+ years has seen us drift so far away from this basic recognition of what it means to be a cohesive, productive society, sharing a planet that we all need to take care of, not simply use it up as part of a production machine to reward a tiny few at the top and their acolytes and wilfully blind shareholders.

Be part of the change, back to a more inclusive, common sense approach to economic and environmental/social matters.

Or be run over by it.

My generation will not be slowing down for you.

September 20 is just the start.

#89 IHCTD9 on 08.12.21 at 5:43 pm

#33 Millennial Realist on 08.12.21 at 4:07 pm

The incomes available to meet the cost of basic living for the “many” is not enough anymore, mainly because the wealth gap, enriching the “successful” has exploded beyond all comprehension.

(The train is leaving the station September 20)

————

Yep, Trudeau and his lapdog (BOC) have bulldozed a colossal mountain of cash into my bank account. He also caused my house value to skyrocket. I observed these events while sitting on my couch watching Netflix.

Indeed, the crazy train leaves the mint on Sept 20, and when I say crazy, I mean it’s loaded with a crazy amount of cash – once again, all headed for my bank account.

I’m not voting for Trudeau because he’s got the IQ of a fence post, but for all of you who are – I thank you in advance.

#90 cramar on 08.12.21 at 5:47 pm

#19 TurnerNation on 08.12.21 at 3:43 pm

———-

Actually it is worse. Canberra is going into total 7-day lockdown after discovering one case IN OVER A YEAR!

https://www.reuters.com/world/asia-pacific/australias-victoria-reports-slight-rise-local-covid-19-cases-2021-08-11/

Excessive? Likely. But I wonder who feels safer, those in Canberra or those in Florida, where Rep. Gov. DeSantis anti-mask insanity had 24,753 cases yesterday. That is over 13x the number of new cases yesterday in all of Canada (1,867).

Two extremes. Open for business (no masks for schools) and pay no attention to the man behind the curtain, or lock down a city over one (now 4) cases. Is there no sane middle ground with politicians anymore?

#91 Another Deckchair on 08.12.21 at 5:49 pm

Years ago one of my kids had a mid-way-through Uni party for the high school kids who were around. It was interesting hearing the talk as I was flipping burgers.

One of the guys, to others: “Not worth even accepting a job paying less than 100k”.

Here they were, saying that what I was making (at the time less than 100k) was not worth it, and they were drinking my beer, eating my burgers… Hmmm. not worth it…

Oh well. Life is interesting… and at the time I think we had reached financial self sufficiency… and they had not even worked at a salaried job yet…

#92 Doug t on 08.12.21 at 5:54 pm

#79 cuke and tomato picker

I spent many days in a classroom and received nothing but boredom

#93 The Liberals they call us! on 08.12.21 at 5:57 pm

Oh yes we are the people running in the race
Buying up the bargains in the ol’ marketplace
Another sale on something, we’ll buy it while it’s hot
Save a lot of money spending money we don’t got
We save a lot of money spending money we don’t got.

The Liberals they call us!

#94 Macduff on 08.12.21 at 5:58 pm

Lots of people saying don’t pick on the teachers, they’re not rich. However, if we use the average pension for a teacher (i.e. $60,000) that they can receive at age 55, it would take an RRSP of $1,500,000 for a non-teacher to generate this income if we assume a 4% withdrawal rate. If you add the value of the teacher pension to other assets, yes, I would say that teachers are rich and are lucky to have a strong union that assures this status.

#95 Rooster on 08.12.21 at 5:58 pm

Tam just declared 4th wave here.

Did she just block the election?

#96 Catalyst on 08.12.21 at 5:58 pm

The ‘average’ household income figure of $50k is total bunk and representative of almost nothing. Almost no households in Canada make less than that, it is seriously impossible to live on. 2 people working minimum wage jobs 40hrs a week make $56k/yr and thus pay net negative tax.

Canada does have an income tax problem and its how fast it scales up making people who make a very modest $100k wage have to pay insane taxes compared to someone with a similar lifestyle who makes $60k. Additionally, all the boomers+ who paid peanuts into CPP and live in detached mansions collect it off the back of working poors today, it’s quite sad.

The answer isn’t more taxes, we already have an unlimited money tap in the BOC and you can see we don’t have good ways of spending it. The gov’t can print money, but they don’t have the talent or ability to pave new roads, build new houses, or open up doctor practices.

I wish instead of handing out fat new programs and incentives to spur spending, they would just cut taxes and let us keep more of what we make if you want to spur growth. This ridiculous fantasy that we are going to ever pay back the debt is crumbling but somehow people are still looking to increase taxes is farcical.

#97 Boom Town Rat on 08.12.21 at 6:03 pm

“CPP is a member- and employer-financed defined benefit plan. It’s not going anywhere. – Garth”

—–
NOPE.

Eventually UBI will be implemented.

A great bribe really.

AND…anyone who collects CPP and/or OAS will find that their UBI gets clawed back due to their CPP and OAS incomes.

In the end, it means that CPP and OAS will be “taken back” in the form of clawbacks on UBI.

When it ends up taking money out of our pockets it doesn’t matter to them which pocket they take it from.

Just look at the tax implications of CERB if in doubt.

Impossible. Check the legislation. The CPP is going nowhere. – Garth

#98 Too much government takes away propserity on 08.12.21 at 6:05 pm

The problem is the 40% of families that don’t pay taxes in Canada. The first $13,000 or so of income has no federal income taxes. After that there is federal income taxes. However, this is only for employment and other taxable income from a job mostly but even a $100 interest T5 is taxable.

So most people have incomes above $13,000 and that means they are getting government benefits like welfare, WSIB, workers compensation, federal supplement GIS, child tax benefit, HST/GST credit, free childcare, prescriptions, free medical, other government benefits.

These should all be charged income taxes, both federal, provincial on all government benefits, income, pensions. We all use services in Canada and should pay for them.

Also, we should be focusing on raising Canadians wages so they pay more income taxes. Make Canada a more business friendly environment so they get wage raises, more hours, more employment opportunities so the tax pie grows as everyone makes more money. This is a better solution than punishing job creators and businesses.

There is something called the crowding out effect where more government spending and debt, deficits crowds out more businesses and makes total taxes,, revenue go down and increases government debt levels, interest payments for governments and wacks taxpayers even more because there is a much bigger government debt, deficits, higher interest payments and credit downgrades which raises the interest rate on government debt.

#99 Blacksheep on 08.12.21 at 6:07 pm

# 46,

“In updated data provided to CBC and Radio-Canada, the CRA said its research identified 900 or so Canadian individuals, companies and trusts in the Panama Papers leak. An initial triage of those taxpayers determined that about 60 per cent of them, or around 540,”

“were found to have complied with their tax reporting obligations”
——————————
This, is the problem.

They (Corps) are not breaking the ‘tax laws’ by off shoring their taxation. The system is set up (lobbyists?) to let them ‘legally evade’ paying the same rates as 98% of the this blog does. This goes on world wide i’m sure.

Moving money out of the country does not equal tax evasion, or even tax avoidance. – Garth

#100 Oh please! on 08.12.21 at 6:07 pm

#1 crowdedelevatorfartz on 08.12.21 at 3:15 pm

Perhaps people will finally “get it” when the Canuck peso is at $0.50 to the US dollar.

________________________________

Oh, I’ll get it alright!
A huge payoff, that is … since I’m hugely weighted on $USD.
Bring it on.

#101 Little Johnny Port-a-potty on 08.12.21 at 6:12 pm

#4 Trojan House on 08.12.21 at 3:20 pm

This is really disgusting. Not only do elementary school teachers get paid really, really well, so do high school teachers. In Ontario, the average high school teacher makes $104,000 while in Toronto, it’s $109,000. I would argue that teachers ARE the rich! Therefore, I think they should be taxed more.

_______________________________________________

We need to be compensated for enduring and babysitting YOUR children 5 days a week. Try it and see what I mean… then you won’t complain!

#102 Context is everything! on 08.12.21 at 6:15 pm

#10 Habitt on 08.12.21 at 3:30 pm

Thank you for any response and the daily effort you put in.

Yes, marginal. – Garth

__________________________________________

Yes, it is … but do take some credit.

#103 Quintilian on 08.12.21 at 6:16 pm

Stop the crazy talk.
Nobody is leaving because of taxes.
In fact thousands are fleeing other countries and arriving here in plane loads to keep their stash away from the tax man in their homeland.

Please Chrystia make them hurt.

#104 Dr V on 08.12.21 at 6:16 pm

Sounds like we prepared for the taxman as best we
could. CPPs will not be max but still higher than average and may wind up being close to equal once child rearing is applied. 2 OAPs when eligible, 2 RRSPs, 2 TFSAs, one joint non-reg, one small corp, possibly 2
small personal non-reg.

FA pronounced us good to go with the equivalent of a
six-figure employment income.

Hope I’m not rich……

#105 Barb on 08.12.21 at 6:18 pm

“…they pay a top scale teacher these days, 100k+, gold plated pension and benefits, time off etc etc….I find the whole thing almost comical…”

————————–
Exactly.
Oh, and while gov’t is at all that new taxation (of 1% and corps), T2 should also cancel their passports so they can’t leave the country.

Because they will…if they haven’t already.

Reminds me of a kids’ song:
“…roll over, roll over, and they all rolled over and one fell out. ….. until no-one was left.

#106 Room Town Rat on 08.12.21 at 6:19 pm

Impossible. Check the legislation. The CPP is going nowhere. – Garth
————
I didn’t say that the CPP is “going anywhere”.

What I said is that any CPP (and OAS) that I receive will result in clawback of my (soon to come) UBI.

End result is the same. They let me have CPP (and maybe OAS and then claw back other money.

In other words, they will kill CPP and OAS without the political risk that would accompany closing the programs down.

Count on it.

#107 Ponzius Pilatus on 08.12.21 at 6:21 pm

#59 Ldd on 08.12.21 at 4:51 pm
Put a mileage tax on all the electric cars like Joe Biden.
The drivers aren’t paying their fair share, dodging the gas tax.
—————-
Yep.
I hope JT and the Premiers are listening.
The budget will balance itself no-time
Get those pesky Tesla drivers.

#108 Niagara Region on 08.12.21 at 6:27 pm

Blacksheep #99
Yes, the money that corporations off-shore to avoid tax and the incredible tax rebates they receive is money worth fighting over. 55 major US corporations paid no federal taxes in the US in 2020:
https://www.democracynow.org/2021/6/10/headlines/55_corporations_that_paid_no_taxes_in_2020_spent_450_million_on_lobbying_and_campaigns_since_2016

Jeff Bezos paid no income tax in 2007 or 2011. Elon Musk had no tax bill in 2018. The richest 25 Americans pay on average a 15.8% tax rate, less than many ordinary US workers do:
https://www.cbc.ca/news/world/propublica-rich-americans-tax-1.6058757#:~:text=the%20tax%20man.-,Amazon%20founder%20Jeff%20Bezos%20paid%20no%20income%20tax%20in%202007,nonprofit%20investigative%20journalism%20organization%20ProPublica.

Teachers’ salaries are small potatoes. Tax the titans!

#109 IHCTD9 on 08.12.21 at 6:27 pm

#47 Dave on 08.12.21 at 4:27 pm

….What about the 1% of a client’s assets they charge–regardless of how the assets perform? These people are grossly overpaid, especially for what they produce.
———

So paying an outfit 10k to make you 100k tax advantaged dollars while you’re out fishing – is too much?

You got a cheaper way to make 90k?

#110 Joseph R. on 08.12.21 at 6:31 pm

#81 Richard on 08.12.21 at 5:32 pm
Arnold S, the terminator, I guess he is still pissed of from the divorce and lots of money, property he lost and probably is still paying. I don’t know why people still listen to Hollywood actors and give them such importance. They are relics of the past. They have an opinion okay but I have to buy things, follow everything they do just because they were in movies, TV etc.

Stick to doing your job on the screen and stop with politics.

———————————————————————-

You will need to talk to conservative in the USA. Two of their heroes are Hollywood elites: Reagan and Trump.

Speaking of Reagan, the gap between private and public we see today is due to the failure of Reaganomics (Trickle down economics).
Their hypothesis was that lower taxes on the super rich, combined with lower business regulations and the demonization of labor unions, were supposed to increase government revenue due to higher employee wages because, they figured, high CEO pay will “trickle down” the corporate ladder.

That never happened. The rich used their higher compensation to purchase more political power while the lower classes ended up paying for the government obligations without the increase in wages that was promised.

If the destruction of labour unions didn’t occur, teacher’s compensation would simply be viewed as average, not part of the top 10% of wage earners.

#111 yvr_lurker on 08.12.21 at 6:31 pm

They (Corps) are not breaking the ‘tax laws’ by off shoring their taxation. The system is set up (lobbyists?) to let them ‘legally evade’ paying the same rates as 98% of the this blog does. This goes on world wide i’m sure.

Moving money out of the country does not equal tax evasion, or even tax avoidance. – Garth

————-

???? How is this not tax avoidance? Whatever working definition you must have for the term is so narrow and opaque to preclude it having any meaning. I hope that the G7 countries find a way to work together to eliminate this loophole by which mega-corporations can hide untaxed profits earned in one country in some offshore location. This has to end, and it would provide much additional revenue for Govt’s. However, the Gov’t free-flowing spigot needs to be turned if any enhanced revenue collection is to make any difference.

#112 the Jaguar on 08.12.21 at 6:32 pm

Can we stop referring to Jagmeet Singh as Jag? Makes my skin prickly. The guy wouldn’t know a solid idea if it fell on him like an anvil. Look up the word ‘pandering’ and his name will be there.

About teachers. A few had a great influence on my life. But these are different times. This poster has it exactly right: ++
#51 S.Bby on 08.12.21 at 4:38 pm
What can we say about teachers? They are beholden to their left-wing unions. Most teachers have no clue of how the real employment world works. Many are not very good but a few are. I have two kids in public school and it’s been an eye-opener for me. +++

Their thinking is not based on reality. They frequently marry other teachers, and often don’t have kids of their own. Their kissing cousin is social workers. Which one are you Marcia M.?

Speaking of kids. Let’s kill the baby bonus. If people want to pop out a kid or two that is their business, but not on the public purse. It’s like some government inspired version of Hand Maid’s Tail. Remember that ‘octuplets’ mother’ who modelled herself on Angelina Jolie? We don’t want to encourage that sort of behaviour. Ugh.

Tanny the black lab is an inspiring creature. Thank you for giving her a beautiful life.

#113 Justin case on 08.12.21 at 6:35 pm

#38 Boomer Bill on 08.12.21 at 4:17 pm
#23 Linda

My definition of rich are my developer buddies who are centimillionaires and one who is a billionaires. One collects more rent per month than a person on minimum wage will make in a lifetime…

___________________________________________

yes, and these are exactly the type of citizens that we need to tax to the hilt … motivated, hard working, entrepreneurial types. There’s no place for these type of scoundrels in Trudeau’s Canada!

*** BTW, why would these people be your buddy?

#114 Barb on 08.12.21 at 6:36 pm

oh…and teachers’ other great idea was to convince our kids and grandkids that they could use any bathroom they wished.

Non-gender agenda…it almost hurts my mouth to say that.

#115 Gavin on 08.12.21 at 6:47 pm

Joseph R. so you are going to like the big government push by most of the western world governments. You must like Obamanomics, USA socialism and now Biden’s, Bernie Sanders economics.

How about when Jimmy Carter democrats were in power and the economic malaise of very high unemployment, very high inflation, very high high interest rates 22% mortgage rates, very high taxes, energy shortages etc. on and on. We have had more Liberal, Democrat government and it always gets much worse than the conservative, republican side from what I saw in history.
If you look outside Canada, US, look at Europe, Russia when under USSR, Argentina, Chile, Venezuela, Cuba, Bolivia etc. Watch out for Peru that just elected a marxist.

#116 Ponzius Pilatus on 08.12.21 at 6:48 pm

#52 Millennial Realist on 08.12.21 at 4:40 pm
Under conservative, Republican President Eisenhower, the top tax rates were over 90%

90%

90 PER CENT.

This is not a rumour, it has been fact checked. Read here:

https://www.politifact.com/factchecks/2015/nov/15/bernie-sanders/income-tax-rates-were-90-percent-under-eisenhower-/

What did that accomplish?

The greatest, fairest economy the world has ever known. Prosperity for almost the entire middle class. Social justice and fairness. Shared public interest in dealing with issues, instead of partisan bickering and echo chambers, manipulated by elites like we have today.
—————
Yes, that’s true.
Very few people know that.
It gave the Amis the nation wide net of freeways and highways and infrastructure that made them the top economy on the planet, and still  drives their economy to this day.
However, it is going down the drain, and is in dire need of repair and replacement.
People are complaining about the 1.2 Trillion infrastructure bill that was just passed.
But it’s only the beginning.
The same is true for Canada.
Don’t like taxes.
Get ready to pay more.

#117 Habitt on 08.12.21 at 6:53 pm

80$ an hour for a plumber? Not likely lol I did estimates for retail and commercial work for years for small business people for a different trade.If said job was hourly the rates were 80 for a journeyman and 55 for an apprentice. Wages were 35 and 20. Gotta pay office staff vehicles and all the rest. That’s how it works sheesh

#118 Nonplused on 08.12.21 at 6:54 pm

I don’t know what to say about this except expect more insanity to follow:

http://www.cuzzblue.com/2021/08/biden-begs-opec-to-boost-oil-production.html

It sort of reminds me of the BC government trying to stop Trans Mountain, raising the HST, raising fuel taxes, raising carbon taxes, and then trying to blame Alberta producers for the high cost of gasoline in Vancouver.

#119 Idiocy on 08.12.21 at 7:01 pm

to comment 64 Po Pil

Do you have any idea of what principals make in salary ?
In Ontario, my friends who are Ps make over 180,000 per year, Vice -ps make up to 160,000. Plus full benefits, pension, etc.
Average teacher in Ontario 91,000 according to Garth today.
Did your acquaintences show you their tax returns ?
The fact that they do not drive fancy cars nor live in extravagent homes is not indicative of their incomes, but their spending habits / priorities.

I always thought your obtuse posts were done tongue in cheek to get a response from others.

Now I realize that your posts really emante from an obtuse intellect.

#120 Born in Hamilton on 08.12.21 at 7:01 pm

#81 Richard on 08.12.21 at 5:32 pm

Anti-masker by chance? You sir, are the dunderhead.

Btw.. In addition to his acting career Arnold is also the former Governor of California, is known to have a very high IQ, and is worth somewhere in the neighborhood of 400 million USD. His opinion is definitely worth something.

#121 The West on 08.12.21 at 7:02 pm

#65 Soviet Capitalist on 08.12.21 at 4:59 pm

Translation:
Tax the rich = Tax anyone who’s not me

NDP wants pharmacare, …

I want ponies, butterflies and free lunches for everyone; also, please add world peace, cure against all diseases..
Anything else that I forgot?

Ah ,yes, since Trudeau and Singh are doing well personally, they should lead by example and donate 90% of their wealth to the government.

—————————————————-

Exactly.

Some animals are more equal than others.

#122 Ustabe on 08.12.21 at 7:05 pm

Let’s remember that teachers are paid province by province. They do not all make bank in all jurisdictions.

Decades ago while waiting around for my now wife to finish her degree I took advantage of the UofS program that allowed a BA, Honours to return for a year and become a BEd, Honours.

When I went out to test the waters I found that my income from 2 laundromats and one very busy pickup/take out only pizza spot, (each run by employees, basically all I did was take money to the bank and sign cheques) was more than a Saskatoon city elementary school principal made!

Things may have changed but still, painting with a very broad brush sometimes covers over things that need to be examined.

#123 Joe on 08.12.21 at 7:05 pm

The Jaguar, if I remember in the 80’s, under PC’s, Mulroney, there was a tax deduction for every child and was nowhere near the amount of benefit like child tax benefit, baby bonus it was once called. A little help for the family to raise kids in society. I can’t remember how much it was but it did not encourage to have lots of kids but to help with some of the cost for raising a kid in Canada.

#124 Nonplused on 08.12.21 at 7:06 pm

#70 crowdedelevatorfartz on 08.12.21 at 5:07 pm
@#64 PeePee
“Paying a plumber 80 bucks an hour, given his/her education is crazy.”

———————————-

A plumber can change my hot water tank in about 3 hours, soldering up the in-floor heating and all, including bringing the new tank and disposing of the old. I could probably do it myself in about 3 days.

So 3*$80 = $240 for the plumber
$240/(3*8) = $10/hour I pay myself if I do it.

Might be better to call the plumber as you have to know something about soldering and gas fitting to do it yourself.

And don’t forget that $80 covers overhead and taxes too.

#125 TheDood on 08.12.21 at 7:10 pm

#98 Too much government takes away propserity on 08.12.21 at 6:05 pm

…………Also, we should be focusing on raising Canadians wages so they pay more income taxes. Make Canada a more business friendly environment so they get wage raises, more hours, more employment opportunities so the tax pie grows as everyone makes more money. This is a better solution than punishing job creators and businesses……

________________________________________

Bingo!

#126 Dr V on 08.12.21 at 7:10 pm

106 Boom town – I enjoy the comments on UBI.

What I usually see are two dissenting opinions. Though there are proponents of UBI throughout the political spectrum, it normally breaks down like this:

Leftie – “we need this for social justice” and

Rightie – “you cant just pay people for doin’ nothin” and

“We’re all gonna get $2000 a month.”

Dr V’s UBI takes a completely economic approach.
Apparently, welfare for a single person varies in Canada
from $700 to $1400/mo depending on province/territory. UBI would be set at a level such that a person is still expected to work, though the extent may change. The corresponding tax rates would basically make an unchanged total income for those
between $40-80k covering many productive skilled and semi-skilled workers. Consideration would have to be given to persons over 65, and whether we would actually encourage retirement for them by increasing the UBI at that age, eliminating OAS but of course carrying on with CPP, but perhaps at a different amount.

But yes we have to pay for it. Current benefits (EI, welfare) would be eliminated or completely re”vamped”
with cost savings.

#127 Ponzius Pilatus on 08.12.21 at 7:11 pm

#81 Richard on 08.12.21 at 5:32 pm
Arnold S, the terminator, I guess he is still pissed of from the divorce and lots of money, property he lost and probably is still paying. I don’t know why people still listen to Hollywood actors and give them such importance. They are relics of the past. They have an opinion okay but I have to buy things, follow everything they do just because they were in movies, TV etc.

Stick to doing your job on the screen and stop with politics.
#81 Richard on 08.12.21 at 5:32 pm
Arnold S, the terminator, I guess he is still pissed of from the divorce and lots of money, property he lost and probably is still paying. I don’t know why people still listen to Hollywood actors and give them such importance. They are relics of the past. They have an opinion okay but I have to buy things, follow everything they do just because they were in movies, TV etc.

Stick to doing your job on the screen and stop with politics.
—————
I think “Arnie is back”.
He’s a Republican but he hates Trump.
He’s big on the environment and public healthcare.
He cant run for President, but he could be instrumental in shifting the GOP more to the center where it needs to be to have a future.
He’s 74, but he’s in good shape, as you may expect from  a 6X Mr. Olympia.
And he has lots of common sense and street smarts.
He also has a degree in Business and Marketing.

#128 Leftover on 08.12.21 at 7:12 pm

Canada doesn’t need new taxes, it needs to collect the ones it already has.

Since this is a real estate blog, start by taxing unreported income from basement “mortgage helpers” and Airbnb, and cracking down on the shell game that people employ to claim the capital gains exemption on houses that are actually investments.

We keep hearing that the CRA is onto this stuff, but it sure doesn’t seem like it.

#129 Richard L on 08.12.21 at 7:13 pm

Everyone wants to have taxes paid by someone else.

#130 Nonplused on 08.12.21 at 7:17 pm

#64 Ponzius Pilatus on 08.12.21 at 4:57 pm
If teachers are rich, they hide it well, or have some good tax accountants.
I know 2 Principals and a few teachers.
Some are parents on my daughters hockey team.
I’ve been to their houses, got rides in their cars.
Pretty average, I’d say.
The parents who drop off their kids in an F-150 or a BMW are people like CEF, handy men, who’ve been riding the gravy train that is the Vancouver for the last 20 years.
Paying a plumber 80 bucks an hour, given his/her education is crazy.
These are the noveau rich.
Tax them hard and tax them often.
And stop the teacher bashing.
Try and spend a day in a classroom, and then report back.
Oh, that felt good.

————————————

$91,000/y / 187 days / 7 hours per day = $69.50/h for a starting teacher.

Typical education for a teacher = 4 years
Plumber = 2.
Teacher does not need a tool van.
Teacher does not have to work outside.
Teacher does not have to unplug toilets.

$134,000/y / 187 days / 7 hours per day = $102.40/h for the principle.

Let’s stop trying to figure out who gets paid too much or too little. The “invisible hand” sorts it out. Teachers and plumber both get paid about what they should relative to market demand and their skills. Otherwise there would be a shortage of one and an abundance of the other.

#131 ImGonnaBeSick on 08.12.21 at 7:20 pm

#79 cuke and tomato picker on 08.12.21 at 5:29 pm
Yes spend a day in a classroom it is not easy

—-

It’s easier than a lot of others… Maybe the ones that think it isn’t, have never actually worked a day…

#132 IHCTD9 on 08.12.21 at 7:21 pm

#101 Little Johnny Port-a-potty on 08.12.21 at 6:12 pm

We need to be compensated for enduring and babysitting YOUR children 5 days a week. Try it and see what I mean… then you won’t complain!
—- —

Hi, I work at a turkey offal processing plant for minimum wage.

Trade?

#133 rk n usa on 08.12.21 at 7:22 pm

the so called rich they are going for are single earners between 75 and 150K

#134 crowdedelevatorfartz on 08.12.21 at 7:22 pm

@#103 Quintilians Deeper in Debt

“Please Chrystia make them hurt.”

+++
Mission Accomplished.

Every time she speaks while constantly nodding her head…… it’s painful

#135 ImGonnaBeSick on 08.12.21 at 7:22 pm

#95 Rooster on 08.12.21 at 5:58 pm
Tam just declared 4th wave here.

Did she just block the election?

—-

Nope, just guaranteed JT 81m votes…

#136 Ustabe on 08.12.21 at 7:22 pm

Story Time

Long, long ago I was hitch hiking between Saskatoon and Calgary as was done in the day.

I found myself stranded for a time opposite a farm yard that had a large turkey barn with a large fenced pen between the barn and the road.

The turkeys would gobble, gobble and fill the pen and if I did a scarecrow move, arms out, they would all gobble gobble and run for the barn.

After I did this a couple of times the farmer pulled onto the highway in his beat up 1/2 ton, parked, got out and walked up to me. Me, hair down to my shoulders, back pack full of stuff I would have gone to penitentiary for and him, salt of the earth, hard as nails, obviously a worker bee…

Told me that turkeys are dumb and each time I scarecrow’d them he ran a real chance of maiming or dying in his flock. They trample over one another and do the smoosh thing at the door, etc. I apologized and he said not a problem, they do the same thing every time a semi goes past and even sometimes when a car or pick up does as well. Just stop is all he wanted.

A moment passes and I look at the turkey pen, look at the farmer and ask him why he doesn’t move the pen to the other side of the barn, so the building shields the turkeys from the road.

He just froze, looking into the middle distance. Looked at me and said he’d been fussing with the turkeys for 5 years and never, not once, had that occurred to him.

Shook my hand, drove back into his farmyard, moments later his wife came by with one of the best sandwiches I’ve ever had and a jug of real home made lemonade.

Moments after I finished the sandwich a traveling salesman in a big old air conditioned Buick picked me up and drove me right to my door in Calgary.

There is a life lesson in my story…see if you can find it.

#137 Sail Away on 08.12.21 at 7:28 pm

Live long, do lots, travel and prosper. Aside from family reserves, the Sail Away and wife projected annual fully taxable government dispensations upon turning 65 are as follows:

-Social Security x2 from 16 years working US: $24k USD
-CPP x2: $25k CAD
-OAS? x2: $15k CAD
-Mrs. SA DBP: $50k CAD
-Mrs. SA uni pension: $10k USD

Assuming 1.3 exchange rate, that’s $135k CAD.

So sure, tax reasonably and we’ll cheerfully comply. Implement a wealth tax, and… wealth? what wealth?

Goose, golden eggs, don’t slaughter.

#138 crowdedelevatorfartz on 08.12.21 at 7:30 pm

@#47 Dave T
“What about the 1% of a client’s assets they charge–regardless of how the assets perform? These people are grossly overpaid, especially for what they produce.”

+++

Well.
From my own personal experiences with crappy financial advisor’s( lousy performance and high fees) who rarely talked to me unless it was the annual RRSP “pump and dump” time (and they never wanted to talk about their 3,4,5% front end fees)and then …..
Getting excellent financial advisor’s who talk to me for at least an hour 3 times per year about my portfolio and are very upfront about their 1% fees….

THE best thing I ever did.

But you sit and stew…for another wasted decade or so.

#139 crowdedelevatorfartz on 08.12.21 at 7:31 pm

@#112 The Jaguar
“Can we stop referring to Jagmeet Singh as Jag? ”

+++

Ok.
How’s “Jaggy” or “Jagermiester”?

#140 Niagara Region on 08.12.21 at 7:33 pm

Trojan Horse, #4.
Teachers aren’t rich. The 47 Canadian billionaires who control $270 billion in total wealth are rich:
https://www.policynote.ca/the-rich-and-the-rest-of-us/

The 50 US families worth 1.2 trillion are even richer:
https://www.forbes.com/sites/kerryadolan/2020/12/17/billion-dollar-dynasties-these-are-the-richest-families-in-america/?sh=39898f12772c

Because the billionaires in Canada and the US are invisible, most people think of middle-class people with middle-class salaries (e.g., teachers, doctors, lawyers) as rich. It is crucial to look way up the socioeconomic ladder to such staggeringly wealthy families as the Waltons who own Walmart, the Sacklers that brought the oyxcodone crisis on the US and Canada, and the Duponts that unleashed toxic chemicals on the world via Teflon.

If we middle- and working-class people attack teachers as too well paid, we’re falling for the conquer-and-divide strategy that keeps average people from uniting against people like the Waltons, Sacklers, or Duponts. Depressing teacher salaries helps depress the entire wage scale for workers.

#141 IHCTD9 on 08.12.21 at 7:36 pm

#108 Niagara Region on 08.12.21 at 6:27 pm

Teachers’ salaries are small potatoes. Tax the titans!
— —

We don’t have dudes like that in Canada homie.

47 billionaires in Canada total, representing 270 billion worth of wealth, the vast majority of which is held in assets that aren’t taxable as income.

Trudeau blew the entire liquidated fortune of all 47 of them combined, PLUS over a hundred billion on top – in just one ******* year. Take everything they’ve got, and you’ll cover maybe 9 months worth of Liberal spending.

Taxing the rich just won’t work in Canada, we don’t have enough rich folks.

#142 Habitt on 08.12.21 at 7:37 pm

101 perhaps them teachers should be compensated like child care workers lol

#143 crowdedelevatorfartz on 08.12.21 at 7:38 pm

@#42 Dolce

Yo amico mio!

E la temperatura in Sicilia?
49 gradi Celsius sono sufficienti per far sciogliere le statue di marmo!

#144 "NUTS!" on 08.12.21 at 7:40 pm

#80 YVRTeacher

The question is, why did you become a teacher? Listing all the challenges you face in your line of work begs the question as to why you stay as a teacher. I too face challenges in my career but I choose to stay because I enjoy what I do. Canadian teachers enjoy above average pay and benefits compared to most other countries. If you disagree, then change professions.

#145 crowdedelevatorfartz on 08.12.21 at 7:48 pm

@#135 Ustabe
“There is a life lesson in my story…see if you can find it.”

++++
Long haired, dope smoking, hitchhiking hippies….eventually become teachers…..

#146 Tony on 08.12.21 at 7:51 pm

Awww, shucks, the small entrepreneur with the $80,000 chrome-plated pickup truck who’s oppressed and hard-done-by is gonna whine that he works so hard and pays too much tax and now they gonna pay even more, so oppressed! Cry me a river.

#147 Trojan House on 08.12.21 at 7:51 pm

#101 Little Johnny Port-a-potty on 08.12.21 at 6:12 pm

If I wanted someone to babysit my kids I could get one for $14 an hour. You’re paid $100K to teach my kids. If you consider it babysitting, I suggest you get a new career. You just confirmed everyone’s belief about teachers.

#148 crowdedelevatorfartz on 08.12.21 at 7:53 pm

@#124 Nonplused
“And don’t forget that $80 covers overhead and taxes too.”
+++

Dont forget liability insurance if there’s a leak, WCB if there’s an injury, etc etc etc

I’m done.
Alcohol beckons and Garth’s wife is probably glaring at him for reading this crap..

#149 SoggyShorts on 08.12.21 at 8:02 pm

#39 Canadian Soldier on 08.11.21 at 4:34 pm
Regarding Bitcoin
I’ll take a stab at each of these quotes you posted:

“Imagine a world where everyone used something fair and equitable to settle their economic differences”

**
Is it fair and equitable to randomly take a 50% cut in salary that won’t go back up for months or years(if ever)?
Imagine a world where countries didn’t know if they could afford to pay their military this month because the value of Bitcoin often changes by 50%
—————————
—————————
“The destiny of money is to be encrypted”
**
Perhaps, but nothing says this must be Bitcoin.
—————————
—————————
“Bitcoin is the dominant digital monetary network. The next billion members will pay trillions to join, you might want to join first”
**
The only reason it is in first place is because it was first. Better ones will come and eventually, Bitcoin may fade.
—————————
—————————
“Bitcoin is an ark of encrypted energy to escape the currency flood”
**
Bitcoin is contributing to climate change, and there’s a real possibility of it being banned (China?) or maybe we’ll all need an ark soon…
—————————
—————————
“The majic[sic] of bitcoin isn’t the transfer of money to someone 10,000 miles away – it is the transfer of money to someone 10,000 days away”
**
Good, because bitcoin absolutely blows at transferring money to someone even 1 mile away.
—————————
—————————
“Bitcoin is money, everything else is credit”
**
Bitcoin is backed by nothing, I’ll take the credit which is guaranteed, thanks.

#150 Drew on 08.12.21 at 8:02 pm

#2 Stoph Yep

In my experience most people that whine about taxing the ‘rich’ are pretty financially illiterate.

‘fairly’ is always just an euphemism for ‘more’ or ‘way more’

‘rich’ on the other hand is very vague and can mean anything from: Owns a house, makes $x/year, has money in a TFSA/RSP, owns stocks (only rich people own stock you know), owns any kind of investment, has savings of 3 months expenses, has any savings at all, etc.

Because if you save your money that’s hoarding wealth, and that’s just not fair whine whine.

#151 Lorne on 08.12.21 at 8:09 pm

#135 “NUTS!” on 08.12.21 at 7:40 pm
#80 YVRTeacher

The question is, why did you become a teacher? Listing all the challenges you face in your line of work begs the question as to why you stay as a teacher. I too face challenges in my career but I choose to stay because I enjoy what I do. Canadian teachers enjoy above average pay and benefits compared to most other countries. If you disagree, then change professions.
……
Most teacher’s, despite all the challenges they face, also enjoy what they do. What is not enjoyable is having others, who could have chosen to spend 5 years at university and become a teacher, suggesting they have a “cushy” job and are overpaid and underworked…neither of which is anywhere close to the truth.

#152 Boomer Bill on 08.12.21 at 8:10 pm

#144 Nuts

The answer to your question has three reasons. July, August and the pension. Nuff said…

#153 Boomer Bill on 08.12.21 at 8:15 pm

#136 Ustabe

The lesson to me is that an outsider can give you a fresh perspective that you have overlooked. Am I close?

#154 Reality is stark on 08.12.21 at 8:15 pm

This article speaks the sad truth about our entitled delusional socialist utopia.
Trying to borrow our way to prosperity while glorifying the mediocre.
How long do we expect hard working entrepreneurial immigrants to support outrageous wages and pensions?
The day the housing market stagnates the tax revolt begins.
When taxes and fees become so onerous that there are few ways to prosper you can bet on a middle class revolution.
House price appreciation has kept them docile. When it goes the other way you’ll feel the resentment.
Let the games begin.
This party should have ended in 2017.

#155 Boomer Bill on 08.12.21 at 8:20 pm

#130 Nonplused

Teachers and other government workers have escaped the market mon ami. Private school teacher wages, except for the elite private schools are much less than government teachers wages. Much less. That’s their true market wage, not the one they get as a result of escaping the market.

#156 Dosouth on 08.12.21 at 8:20 pm

I must say you got everyone’s attention by calling out the teachers. What’s even funnier though is my builders painter showing up at my build site with a new BMW X5, the electrician in his Mercedes 3/4 ton work van, the plumber in his really new Chev 1 ton panel van all decked out in his company graphics package. All leased but someone us making the payments…..alas I show up in my little Ford Escape.

Some of your bloggers are right, they are the new middle class. Don’t get me started on how much under the table cash work they’re willing to do…….oh and the irrigation (specialist he says) isn’t doing too bad charging mileage just to come have a look, showing up in his Tesla SUV. This is the new world……

#157 Drinking on 08.12.21 at 8:32 pm

#20 Ken R

Good post! Many years back an old timer also told me of his way of eliminating (his words) the #%@& lazy; the one’s who complain the most are the laziest, no contribution to society! I am a gen-x this came from a boomer; never agreed with that but it was his way! Perhaps a few can understand what the gen-x generation went through along with the insane interest rates, different way of doing things, unfortunately they raised the mills and the mills raised a generation full of themselves.

Whether this is right or wrong history will tell but I think whatever generation one was born in realizes that this cannot continue this way.

I really do thank that I was born in the year I was; I could not even imagine what a child born today will have to go through!!!

#158 Flop... on 08.12.21 at 8:33 pm

You wanna know why the call it a snap election?

It’s got nothing to do with the timeline.

More to do with all the parties having a crap election platform…

M47BC

#159 ImGonnaBeSick on 08.12.21 at 8:40 pm

#108 Niagara Region on 08.12.21 at 6:27 pm.

Teachers’ salaries are small potatoes. Tax the titans!

—-

You sure about that?

There are 408,000 full and/or part time teachers in Canada. https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3710001001

For Ontario:

There are around 126,000. Average teacher salary is $90g for elementary and $92g for high school.. that’s around $23g in income tax per teacher. That’s around $2.9B in income tax. Every extra $1000 we take from them adds $126M in tax revenues… So let’s just tax them down to the average family income so, what, an extra $20g off them? That’s a cool $2.3B per year and that’s just Ontario… I’m sure they want to do their part.. no?

#160 Blacksheep on 08.12.21 at 8:48 pm

#99,

“Moving money out of the country does not equal tax evasion, or even tax avoidance.” -Garth
——————————–
All due respect Garth…

Spin it how you like, but it does not change what’s actually happening here because what we are talking about is legalized, systemic, tax evasion, on a global scale.

The biggest problem Canada would have, ending this
heinous practice, would be Corps simply relocating to
alternate locals that would continue to tolerate this, legalized theft.

You have no idea what you’re talking about. So stop. – Garth

#161 Sail Away on 08.12.21 at 8:51 pm

The lesson is that lifelong veterans in their craft love nothing more than free advice from dope smoking hippies.

Never let lack of experience stop you from offering advice!

#162 YVRTeacher on 08.12.21 at 8:51 pm

#144
I have been a teacher for 35 years for the same reason you stay in your profession: because I thoroughly enjoy my job. My point was that while it’s easy to think that teachers work from nine ‘til three, have summers off, and make gobs of money, there is a side to our profession that the public doesn’t see and never seems to consider. You’d be hard pressed to find a teacher who got into it for the money.

#163 Niagara Region on 08.12.21 at 8:59 pm

#141 IHCTD9
It’s important to keep in mind the relation between corporations present on Canadian soil and American billionaires. The Canadian government undertaxes Amazon, which then feeds Jeff Bezos’s coffers. We also undertax Netflix, Airbnb, Facebook, and Microsoft and thereby feed the coffers of sundry other American billionaires.

Also, Canada’s biggest 102 companies “used complex techniques and tax loopholes to avoid a whopping $62.9 billion worth of taxes between 2011-2016” (https://www.cbc.ca/news/canada/manitoba/opinion-personal-corporate-taxes-1.5141398).

If we taxed corporations at rates comparable to what mid- and higher-range salaries in Canada are taxed, there would be a lot more tax money collected in Canada. By focusing on salaries, we’re missing how the big money is made.

Most CRA tax professionals say Canada’s tax code is skewed to protect the wealthy
(https://www.cbc.ca/news/politics/cra-tax-avoidance-evasion-1.4787781).

#164 binky barnes on 08.12.21 at 9:05 pm

Lots of ideas being thrown around in today’s blog. But only one person has the answers: the PM PM (Mr. Justin Trudeau). His wisdom is as deep as the ocean and as pristine as a mountain spring??? Oh well, you get the idea. I will sleep well tonight, secure in the knowledge that the PM PM will solve Canada’s financial woes. That is what the big man does after all: he solves problems!

BB

#165 Cici on 08.12.21 at 9:05 pm

That horribly written ad does not sound like it was penned by university educated teachers. If it was, I fear for my son’s future in the public school system.

It seriously sounds like it was put together by low-IQ, grade-school-educated simpletons. Now, that may sound mean, but the ad itself is dangerous because it offers no analysis, conclusive evidence or verifiable data, and worse, is chockful of unsupported and biased claims. I’m aware that the gap between the rich and poor is growing, but if it’s truly due to “loopholes” or “hoarding” they should be able to make a case for that by providing some solid examples to back up their wildly generalized claims. Something tells me the woke jokers are at it again and behind this campaign.

Also, why did the ETFO even join the campaign, especially since it sounds like the real teachers weren’t even consulted? How “democratic” is that? If I were a teacher, I’d be livid.

If we are ever going to seriously address the inegalities in society, it can’t just be from the perspective of the supposed “have nots” (who also seem to benefit from a lot of “loopholes” and free, untaxed wealth) being given a free pass to shame and pillage from anyone who has more than them. Worse, that’s not even a sound, long term strategy: the phrase “don’t bite the hand that feeds you” comes to mind.

#166 Ponzius Pilatus on 08.12.21 at 9:13 pm

Last comment on the Teacher/Plumber issue:
I think a person who teaches my kids should be paid more than the person who unplugges my toilet.
Because I could never teach my kids, but if I would not be so damn lazy, I could unplug my own toilet.

#167 Cici on 08.12.21 at 9:16 pm

#5 Bob

It’s “rumoured” because it hasn’t been officially announced yet. For that, you’ll apparently need to sit tight until Sunday.

Still, lots of consensus on this call in the media:

https://nationalpost.com/news/politics/trudeau-planning-to-call-snap-election-for-sept-20

https://www.cbc.ca/news/canada/newfoundland-labrador/ndp-releases-platform-1.5899306

https://www.reuters.com/world/americas/canada-pm-trudeau-is-planning-call-snap-election-sept-20-sources-2021-08-12/

https://www.ctvnews.ca/politics/pm-trudeau-expected-to-launch-federal-election-on-sunday-sources-1.5544491

#168 Wrk.dover on 08.12.21 at 9:17 pm

Plumbing is Lego. Why the hell would you pay someone to play with your toys anyhow? Blows my mind, people enjoy cross word puzzles, but won’t think through practical solutions to practical problems…..and solve them.

Yes Virginia teachers are rich! My wife took every fourth year off, and retired at 55. I had dropped out of payed work 17 years earlier at 35.

Anyone with more total income in their life is either filthy stinking ultra-rich, or budgets like the PM PM.

M67.95NS

#169 TurnerNation on 08.12.21 at 9:22 pm

#90 cramar on 08.12.21 at 5:47 pm
Why not take responsibility for your own health – as you’ve done for the last 4-6 decades?
Go ahead and stay home, wear 3 masks. No one is stopping you.
Nobody I know even care about CV any longer. It’s an addiction. Many have moved to Florida to live normally. They ain’t coming back to Kanada. No fun allowed.


–Why waste money on an election? What’s it gonna cost? 300-500 million? “But the hospital capacity. Hospital capacity!!”
Of course it will be T2, then maybe T3. If somebody else slipped in, it would be just a(nother) globalist plant.
Did you forget about the Bank of Canada’s E-currency? What are they waiting for? Stand by, 2022

— ThisWW3 …is not meant to won. Like the War of Terror and the War of Drugs.
Let me translate: Expect more taxes, e-currencies, and control over breeding, feeding and travel/movement. Thanks UN.

https://www.cbc.ca/news/science/ipcc-report-canada-1.6134879
“What the new UN report warning of climate impacts means for Canadians
Expect more heat waves, fires and flood events in future”

………
— All the old freedoms are gone Comrade. You must scan your papers at every checkpoint.

https://www.congress.gov/bill/117th-congress/house-bill/4980?s=4&r=8
“H.R.4980 – To direct the Secretary of Homeland Security to ensure that any individual traveling on a flight that departs from or arrives to an airport inside the United States or a territory of the United States is fully vaccinated against COVID-19, and for other purposes.”

#170 Scooter on 08.12.21 at 9:25 pm

Articulated extremely well! And it 100% needed to be said! For far too long, union propaganda has swayed government decisions to the detriment of the public it was elected to serve! And it needs to stop!!! Too many of the current or former teachers/nurses/government hacks whine about the many hardships of their job without the any realization the immense benefit gifted to them relative to the rest of the public! Shame! They should be compensated based on performances and not the union contract! I work in healthcare and while there are some very good workers, there are a lot of terrible ones too! And unfortunately the work culture breeds apathy and resentment, which essentially ends up wasting tax payer dollars!!

P.S. If I see another teacher or nursing union propaganda video or announcement I think I’ll be physically sick! They all should all be embarrassed!

#171 Pylot Project on 08.12.21 at 9:34 pm

I can’t believe the comments today missed a huge opportunity for comedy and ridicule. Our current PM is a Teacher. ‘Nuf said.

Btw… when is Trudeau’s next boxing match?

#172 DON on 08.12.21 at 9:37 pm

#161 Sail Away on 08.12.21 at 8:51 pm
The lesson is that lifelong veterans in their craft love nothing more than free advice from dope smoking hippies.

Never let lack of experience stop you from offering advice!

*********

Agreed…unless of course one’s craft is growing dope.

#173 DON on 08.12.21 at 9:42 pm

#161 Sail Away on 08.12.21 at 8:51 pm
The lesson is that lifelong veterans in their craft love nothing more than free advice from dope smoking hippies.

Never let lack of experience stop you from offering advice!

*********

Agreed…unless of course one’s craft is growing dope.

Hippies come from all walks of life.

#174 AntMan on 08.12.21 at 9:42 pm

Class war may be good politics during an election campaign but governments are not blind to economic realities. The Laffer curve for Canada (highly debated, I know) indicates many tax increases will not increase tax revenue. We’ve seen this before and I’m sure the good people in the finance department are acutely aware of it. https://fee.org/articles/canadas-laffer-curve-lesson-government-collects-less-revenue-from-high-income-earners-after-trudeau-tax-hike/

#175 crossbordershopper on 08.12.21 at 9:43 pm

when the numbers for 2021 taxes come in i think you will see 50% of families pay no tax, net of credits.
we have crossed the rubicon, without getting into advanced math, poor people produce more than average offspring who are also sub par earners. Compounding effect of poverty, and the wealthy have fewer children on average.
its quite possible that we can enter an era of 66% of people paying no tax by 2035. in my estimation.
54% marginal tax will be a deal, it could be 60 minimum in a few years.
Canada lacks the basics of a good society, you need an incentive for hard working people with skills a chance to do something and build something.
all Canada is a bunch of resources that they dont like to take out of the ground, and trading houses.
thats it, more than ever. definitely not a growth country moving forward.
but if your in Canada, and your poor, its not that bad, dont work to hard, get a little free money from govt and relax, when SHTF then go the usa. and i guess your going to have to start working,

#176 Indigirl on 08.12.21 at 9:49 pm

Teachers deserve every dime. There’s no way I want to spend time in an overcrowded classroom with a couple of kids with behavioural issues and insufficient support. Properly support education and you will get kids turning into functioning tax-paying adults.

And how does anyone live in $50k a year?

#177 Ustabe on 08.12.21 at 9:52 pm

#153 Boomer Bill on 08.12.21 at 8:15 pm

#136 Ustabe

The lesson to me is that an outsider can give you a fresh perspective that you have overlooked. Am I close?

Real close, an outsider you maybe wouldn’t normally seek out…

@Sail Away…if you are going to once again begin following me about and insulting me be aware I’m in zero mood to take grief from a socks in Crocs, paunchy, balding, cargo shorts wearing engineer in a two bit, third rate city.

I let the “your mother” tasteless joke you ran by me a few ago pass despite my publicly stating my age here on occasion and the fact that my mother has passed on, chalking that up to simply your entitled sense of what you can get away with online.

Stick with your intersection re-paves and your tee pee or I’ll take you for another walk, hero.

#178 DON on 08.12.21 at 9:57 pm

#155 Boomer Bill on 08.12.21 at 8:20 pm
#130 Nonplused

Teachers and other government workers have escaped the market mon ami. Private school teacher wages, except for the elite private schools are much less than government teachers wages. Much less. That’s their true market wage, not the one they get as a result of escaping the market.

*****????
In BC private schools also get money from the Provincial government.

And it truly is a shame that even the ultra rich don’t value the folks takening care of and teaching their children. Am I jealous they get close to three months a year….HELL YES…then again I could have become a teacher have to look after my kids and 30 others for 6 hours a day week in and week out.

Yes the Unions can be militant…but in the end it is a band of people.

#179 NoName on 08.12.21 at 10:09 pm

#168 Wrk.dover on 08.12.21 at 9:17 pm
Plumbing is Lego. Why the hell would you pay someone to play with your toys anyhow? Blows my mind, people enjoy cross word puzzles, but won’t think through practical solutions to practical problems…..and solve them.

Yes Virginia teachers are rich! My wife took every fourth year off, and retired at 55. I had dropped out of payed work 17 years earlier at 35.

Anyone with more total income in their life is either filthy stinking ultra-rich, or budgets like the PM PM.

M67.95NS

Plumbing is lego, you sed it. Now i have no choice but to paste link.

Someone earlier aksed why you pay plummer 80cad an hour, this is why, especialy, if wife is bored at home.

https://vm.tiktok.com/ZMetKwdgn/

#180 N on 08.12.21 at 10:11 pm

Here’s the best solution…

1. Figure out the amount of black money in the nation (there’s ways to estimate it).
2. Figure out how to make it taxable.

Alas… it’s not going to happen.

#181 More enforcement is necessary on 08.12.21 at 10:12 pm

There’s hardly any law enforcement in Canada. This country has become a place where the law breakers are the norm and are incentivized to continue and expand their negative behaviour.

Start by writing more tickets to the speeding, aggressive, distracted, and doped drivers.

We should put more effort towards finding and prosecuting tax dodgers like those who claim primary residence exemption on income properties and also those who don’t pay taxes on their rental income whether it be apartments, houses, or basements. There is an up-and-coming generation (z) who believe this is all normal behaviour and how to get ahead. It’s time to straighten everyone out.

#182 Wonder on 08.12.21 at 10:24 pm

If CCB is the primary issue, which party is most likely to reduce the Canada Child Benefit over time?

#183 YVR 60% Crash on 08.12.21 at 10:28 pm

It ONLY takes about 5.5-6 yrs to complete a B.Ed program (Teacher certification in Canada)
Most likely you will get a part-time teaching job for the first several years, no benefits.
Starting wage is around $60k/year full-time. It ONLY takes 15-20 yrs to further your career to make around $90k+.
Anyone interested? I thought so….

#184 1255 on 08.12.21 at 11:04 pm

Jagmeet Singh – the biggest conman in Canadian politics!

#185 IVoteIndependent on 08.12.21 at 11:12 pm

Tax the rich!! Definitely gonna happen, but just remember, “you’re richer than you think”…

Point at whomever you think is going to pay (then notice that your other three fingers are pointing back at you).

#186 fishman on 08.12.21 at 11:23 pm

The VSB (Vancouver School Board) lately made everyone go through this BIPOC (Black Indigenous Progressive critical race maoist gobbley gook training). Of course being teachers they couldn’t stop at students & fellow teachers. VSB also employs 4 or 5 hundred tradesmen. How teachers could possibly imagine positive results from herding recalcitrant snarling men into a stuffy hot room? Then feeding him white man bad propaganda all day. They went because they got paid & the foreman had orders to send them, The foremen begged the guys to not to play Donkey Kong on their phones. I can undo 12 years of correct political training in one fishing season. Two years & I’ve got a saboteur. Three & he can think like a criminal.

#187 Cici on 08.12.21 at 11:57 pm

#66 Rook

Hey there, I this may have been the one you were referring to:

https://www.greaterfool.ca/2020/06/02/the-inevitable-4/

#188 Dr V on 08.13.21 at 12:01 am

177 Ustabe

“..balding, cargo shorts wearing engineer in a two bit,
third rate city.”

Huh? What did I ever do to you?

#189 Keith on 08.13.21 at 12:25 am

Let’s not worry too much about the working class rich. In B.C.’s troubled pandemic year, they still pulled down an average rise in pay that should feed the wolf at the door with champagne and caviar. Inequality is still the major issue, and the ratio of CEO to worker pay continues to skyrocket. Bad for everyone in society, including the richest.

https://biv.com/article/2021/08/bcs-top-executives-got-pay-raises-pandemic-year

#190 Sail Away on 08.13.21 at 12:43 am

#177 Ustabe on 08.12.21 at 9:52 pm

@Sail Away…if you are going to once again begin following me about and insulting me be aware I’m in zero mood to take grief from a socks in Crocs, paunchy, balding, cargo shorts wearing engineer in a two bit, third rate city.

I let the “your mother” tasteless joke you ran by me a few ago pass despite my publicly stating my age here on occasion and the fact that my mother has passed on, chalking that up to simply your entitled sense of what you can get away with online.

Stick with your intersection re-paves and your tee pee or I’ll take you for another walk, hero.

———

It was a ‘yo momma’, and I’ve already mentioned I can’t accept the hero label; I’m just another veteran who fought to protect your freedoms.

Reconsider your life lesson scenario briefly, though. To wit:

An elderly, rural farming couple hears a commotion and looks out to see an erratic, probably drug-addled, long-haired transient chasing turkeys around their front yard. So:

1. The farmer drove the short distance to meet you because openly carrying the shotgun would be too obvious
2. He attempted to be as non-confrontational as possible to avoid a violent reaction, while still delivering his message much as our security guards do every day downtown
3. When you still didn’t leave, he delivered a sandwich to you (driving again, see #1) at the street so you wouldn’t take it upon yourself to visit their house

Glad to help! Let me know if other lived interactions need interpretation.

#191 Savvy Mike on 08.13.21 at 12:52 am

#1 Crowd. Already gone . I am legion. Everywhere I go there are thousands upon hundreds of thousands of Canadians who’ve left the Trudeau Tax the Rich Land behind. Most of my new “colleagues” are the smart ones who figured out that it’s the cost of living in Canada with its egregious taxation that beggars belief.

At my corporate zenith I worked in the USA….Texas specifically. A new 3500 sq ft house in a Dallas burb is $300,000…. $ 2 million in Vancouver. My new Camaro Convertible was $ 19,999 vs $54,000 in Canada. No tax or low tax on most everything . I found it obvious why families could afford 4 to 6 kids on average vs Canada 1. Taxation .

Now I’m retired trading stocks poolside. I travel ( less now with China Virus of course) I give nothing to Trudeau in Canada, so give Trudeau zero tax. Everything’s cheap here, by half and less. Real property expenses are dirt cheap.

Investing? Reinvest dividends and never sell to create capital gain. You’re crazy to live in Canada. Except for executives Canadians are the least mobile people I’ve ever seen. Largely it’s because opportunities are so few and salaries are low by global standards.

#192 LS in Arbutus on 08.13.21 at 12:53 am

I grew up in a small town on Vancouver Island, many teachers had a place on the lake, definitely “the elite” of the town.

#193 Nonplused on 08.13.21 at 1:34 am

#155 Boomer Bill on 08.12.21 at 8:20 pm
#130 Nonplused

Teachers and other government workers have escaped the market mon ami. Private school teacher wages, except for the elite private schools are much less than government teachers wages. Much less. That’s their true market wage, not the one they get as a result of escaping the market.

————————————

Ya, we can get in to the whole union thing, but there is already enough topics bouncing around for today. But briefly;

Ya, the teacher’s union has the power to distort the market. But how much really? Are they getting paid twice what they should without the unions? Around here private school teachers make about the same as public school teachers, but don’t have the same benefits. So what’s that? 20% less? But they do get to send their kids to the private school they work at for near free. So what’s that worth? $20,000 a year?

So ya, teachers might be overpaid. But it ain’t enough to write home about.

We have to stop this obsession with what people get paid. It is not helpful. The market decides with some distortion by the unions, but the distortion ain’t as much as people think. It ain’t enough to write home about.

You want a union job? Get a teaching or nursing degree. Done. You’ll have to wipe some bums though.

#194 Charity on 08.13.21 at 1:48 am

Ok I was a teacher for 15 yrs. I left because I refused to become one of the I’m counting down till pension teachers. And there are a lot of them. Past a certain point many teachers have everything already pre prepped and organized for upcoming years. So the wage is actually backwards they need to pay teachers on a reducing scale. Most teachers actually earn less then min wage in their first 5 years, planning, prepping the program, correcting and coaching extracurricular not to mention meetings pilot programs any school projects. The more experienced teachers tend to say we did that now it’s your turn. I say pay the newer teachers 100k to 120k and the older teachers 75-90k. Unless they maintain the pace of what they were doing when they started.
I can say that they have definitely not earned their wages over the last two years… an absolute travesty. I’m a CEO now and honestly I’d can half the teachers I see in my kids schools.

#195 Nonplused on 08.13.21 at 1:51 am

#146 Tony on 08.12.21 at 7:51 pm

“Awww, shucks, the small entrepreneur with the $80,000 chrome-plated pickup truck who’s oppressed and hard-done-by is gonna whine that he works so hard and pays too much tax and now they gonna pay even more, so oppressed! Cry me a river.”

———————————-

Not many trades can survive without a truck or a van, and not many are running $80,000 rigs unless they have to tow something heavy. Those pallets of bricks and track-hoes don’t just arrive on site.

As for advertising, well, it works.

Me thinks you can’t tell the difference between a work truck and a jet-ski.

My dad told me once, thinking I would follow him into the trades; “The first thing you buy is a tool pelt and tools. Show up ready to work. The second thing you buy is a truck.” Well I hauled a miter saw an other tools around for a while in a Ford Fiesta, but ya I eventually got a truck. Why do you want a truck? $50 a day when the boss runs out of trucks on site.

Trucks are tools. They have 5 seats and air-conditioning now because farmers can no longer afford a truck that can haul hay and a car to drive the family to church, so the truck will have to do both.

It just really amazes me that it has gotten so bad that their are people that can’t allow a tradesman his tool van without seeing privilege.

#196 john on 08.13.21 at 2:14 am

How can there only be 27,000 people in the 1% when the population is almost 37m? Wouldn’t there be almost 370,000 people by definition?

#197 Ponzius Pilatus on 08.13.21 at 2:42 am

#186
You got your work cut out.

https://www.richmond-news.com/world-news/census-shows-us-is-diversifying-white-population-shrinking-4216599

#198 earthboundmisfit on 08.13.21 at 5:49 am

And you thought Tory times were hard times ….

#199 Another Deckchair on 08.13.21 at 6:21 am

Teachers salary.

In Ontario, go and find the Ontario Sunshine List, and do a search. The data is all there for those making > 100k

http://ontariosunshinelist.com

#200 Jimmy on 08.13.21 at 6:44 am

Richard L., everyone wants taxes paid by someone else but should there not be some kind of a reasonable test here.

I don’t think it is about paying more and more taxes anymore with Liberal, NDP, Green Party and others in society that are left leaning, socialist in nature. It is about being jealous and wanting to punish others that are making more money and keeping it.

They get off by taking what is not theirs and giving it to others for power, votes and thinking they are helping the poor blaming those evil rich or higher class people. I know many friends that are lazier than me and not as ambitious and get alot free stuff from the government benefits and pay no income taxes as an earlier poster stated.

It is about rewarding laziness, people knowing they can get free stuff and get away with it and trying to punish others that have more money, property than them. Since Trudeau, Freeland Liberals and the Bank of Canada has the printing press, digital now, they can just print, give money to everyone and seem like Santa Clause and who cares about money. They can make everyone instant millionaires over night.

There is a big problem, unlike in politics the Liberals, NDP, Democrats etc. getting away with almost everything they do, there is the law of math, economics which does not care who you are, when your money is worthless because everybody has it in large amounts with no real production, service, trade, not working for it, it becomes garbage.

Ask the Venezuelan government if raising taxes sky high now helped them out. The Bolivar is crap, it is good for wallpaper, toilet paper. Your free stuff is free for a reason because it becomes worthless. If something is free, you are the product.

#201 Cici on 08.13.21 at 8:06 am

#66 Rook

Erratum; I think you meant this one from last month?

https://www.greaterfool.ca/2021/07/16/the-big-suck-4/

#202 Pbrasseur on 08.13.21 at 8:15 am

In other words teachers, as many other public sectors professionals, are all fat cat millionaires.

With their privileges and influence They indeed are the ruling privileged class is this country.

#203 Kato on 08.13.21 at 9:21 am

#52 Millennial Realist on 08.12.21 at 4:40 pm
Under conservative, Republican President Eisenhower, the top tax rates were over 90%

90%

90 PER CENT.

This is not a rumour, it has been fact checked. Read here:

https://www.politifact.com/factchecks/2015/nov/15/bernie-sanders/income-tax-rates-were-90-percent-under-eisenhower-/

What did that accomplish?

The greatest, fairest economy the world has ever known. Prosperity for almost the entire middle class. Social justice and fairness. Shared public interest in dealing with issues, instead of partisan bickering and echo chambers, manipulated by elites like we have today.
—————————–

There are many folks who would contend that the USA from 1953-1961 was not a social justice Paradise. Million Man March was in ’63.

#204 crowdedelevatorfartz on 08.13.21 at 9:24 am

@#197 Population Prediction

No surprises for Richmond for anyone that’s walked, or driven through it in the last 20 years.

#205 IHCTD9 on 08.13.21 at 9:28 am

#197 Ponzius Pilatus on 08.13.21 at 2:42 am

#186
You got your work cut out.

https://www.richmond-news.com/world-news/census-shows-us-is-diversifying-white-population-shrinking-4216599
____

When whites are a minority, those SJW classrooms will remain full Ponzie – just targeting some other group. The classroom will look a bit different, but all will still get paid for doing, and “learning” nothing.

Plenty of folks who aren’t white totally agree that SJW’s are lunatics, and think pretty much the same as us terrible white knuckle draggers.

Sorry homie, but this isn’t going to turn out like you had hoped.

#206 the Jaguar on 08.13.21 at 9:52 am

‘ I can undo 12 years of correct political training in one fishing season. Two years & I’ve got a saboteur. Three & he can think like a criminal.’

Fascinating. Where do I sign up Fishman?
p.s. I’m already half way there anyway….

#207 Sail Away on 08.13.21 at 10:07 am

On a per-capita basis, about 10x more Canadians expats live in the US vs. Americans in Canada (roughly 1 million, each way).

Food for thought.

#208 IHCTD9 on 08.13.21 at 10:33 am

#182 Wonder on 08.12.21 at 10:24 pm
If CCB is the primary issue, which party is most likely to reduce the Canada Child Benefit over time?
___

None. These types of handouts never go away, never get reduced, and usually only ever go up.

Plenty of Canadians are getting 1K+ per month, and the benefit is paid out to Moms exclusively with rare exception. It’s political suicide to take this away at this point.

The CCB is a total horror show. A family having 4 kids in quick succession will receive over 27K/yr for about 2 years, and from there almost 23K/yr for 11 more years – tax free!

We unfortunately budgeted kids into our finances before we had them. How stupid was that?

#209 Joe Blow on 08.13.21 at 10:35 am

I don’t have that problem of higher income taxes impacting me by that much. However, higher carbon taxes, higher HST,GST taxes, higher property taxes, higher water, garbage, utility bills, higher gas and electricity bills, higher auto, home insurance bills, higher grocery bills, higher dental, medical bills, higher repair bills.

I have no workplace pension and just was able and responsible enough to save in some RRSP’s for decades and TFSA’s since 2009. My CPP, OAS covers all my bills now but with cost of living, inflation rising so fast I am worried that in maybe 5 or 10 years my CPP, OAS will not pay my bills anymore.

I guess I will have to live off my maturing GIC’s and Ontario savings bonds first, RRSP’s, TFSA’s later. I don’t even qualify for any GIS or other pension government help because I am not poor enough. I don’t want really government support but some tax reductions or not increasing taxes so much would be nice.

I worked 40 years full time work in mostly factories making furniture and wood, fabric related products. The pay was average but for the Trudeau Liberals if I have any money I am considered rich now. Canada is in real trouble since the days I came to this great country in the 60’s. I am retired and my total retirement income is only $34,000 a year before taxes.

I think all government workers, government pensioners, politicians, anybody working for a government agency that is making more than $60,000 a year should take a total 10% wage freeze meaning, for a few years, no wage, salary increases. This way it is not a pay cut upfront but they are showing they understand others financial struggle.

#210 Dharma Bum on 08.13.21 at 10:36 am

Those who can’t, teach.

Real education begins once you leave the institutions that are supposed to “teach” you, and spend years unlearning the propaganda, political narrative, fake history, cookie cutter conformity training, and socialist brainwashing that was shoved down your throat.

Only those that open their eyes survive.

I don’t blame the teachers. It’s a sweet gig, if you can get it.

Easy money.

Pure Cush.

#211 Russ on 08.13.21 at 10:45 am

#161 Sail Away on 08.12.21 at 8:51 pm
The lesson is that lifelong veterans in their craft love nothing more than free advice from dope smoking hippies.

Never let lack of experience stop you from offering advice!

*********
#172 DON on 08.12.21 at 9:42 pm

Agreed…unless of course one’s craft is growing dope.

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

You guys need to brush up on some reading and comprehension skills.

The lad in the story asked a question to the farmer.

And there is no indication it was pot being carried in the back pack. In the day, it could easily have been MDA, LSD, pornography or a number of other contraband.

#212 crowdedelevatorfartz on 08.13.21 at 10:51 am

@#207 Sail Away
“Food for thought.”

+++
Sara should thank the Gods that you moved north….
It gives her life meaning….or is that just mean?

#213 IHCTD9 on 08.13.21 at 10:53 am

#174 AntMan on 08.12.21 at 9:42 pm

The Laffer curve for Canada (highly debated, I know)

____

Is it?

Would you go to work if income taxes were 100%?

How about 99?
How about 98?
How about 97?
How about 96?
How about 95?
How about 90?
How about 85?
How about 80?

It’s easy to see how the LCT is bang on the money. We’ve already seen the underlying principle at work with Trudeau’s CERB payouts and subsequent labour shortages. Folks need a reason to sweat it out every day. Take that away, and they’ll happily stay home.

#214 Response to Estate #126 on 08.13.21 at 10:57 am

I think there are a few lessons to be learned from your story.

First and foremost, people being honest and forthright while being civil and respectful is always the best approach.

Second, discussing a problem with an eye towards defining the problem is a key first step. The farmer explaining the problem to you, a fresh set of eyes, helped you to formulate a solution. Any puzzles has at least two parts that have to come together.

Referring back to the first point, focussing on solving the problem as opposed to being distracted by personal differences and self-interest is all that really matters. Having a problem to solve for some people seems to represent a slide into the abyss as opposed to what you do, which is to try to solve the problem and benefit from the solution.

I enjoy reading your comments on this site. I freely admit I have not read every comment you have written and I tend to ignore the conflict that sometimes arises between commenters. Overall, you offer good insights and your reflections on running a business, any business, are spot on. You seem to be more focussed on making things better for yourself through building a strong business that can weather the inevitable problems. In that regard, I believe you have a lot in common with our esteemed blog host, he of the many coifs, ripples, et cetera.

#215 Response to Ustabe #126 on 08.13.21 at 10:59 am

Oops! Not Estate but Ustabe.

#216 Response to Ustabe #126 on 08.13.21 at 11:01 am

Lessons: defining the problem is half the battle; honest, open, and respectful communication that focusses on the problem at hand works wonders and usually results in a solution.

#217 DON on 08.13.21 at 11:03 am

#177 Ustabe on 08.12.21 at 9:52 pm
#153 Boomer Bill on 08.12.21 at 8:15 pm

#136 Ustabe

The lesson to me is that an outsider can give you a fresh perspective that you have overlooked. Am I close?

Real close, an outsider you maybe wouldn’t normally seek out…

@Sail Away…if you are going to once again begin following me about and insulting me be aware I’m in zero mood to take grief from a socks in Crocs, paunchy, balding, cargo shorts wearing engineer in a two bit, third rate city.

I let the “your mother” tasteless joke you ran by me a few ago pass despite my publicly stating my age here on occasion and the fact that my mother has passed on, chalking that up to simply your entitled sense of what you can get away with online.

Stick with your intersection re-paves and your tee pee or I’ll take you for another walk, hero.

************
That is a neat experience. You never know where good ideas can come from so keep an open mind.

I especially liked the fact you got a ride to the door of your destination. I miss the old stock war generation folks.

#218 Dave on 08.13.21 at 11:08 am

You clearly have a dim view of teachers, but as a nitpick it should be pointed out that professional development days are indeed work days and they are usually spent sitting through meetings and seminars just like folks with regular jobs do every day. Frankly I’d rather be in a classroom with my students but there is always a manager usually with less teaching experience who has a better idea about how to do things.

You’ve excited a bunch of your commenters (as you know doubt knew you would) into having a nice familiar teacher bashing session. At this point it’s just background noise, but it is a bit disappointing to know that somebody that I have a great deal of respect for likely has little for me simply based on the profession I decided to try a few decades ago.

Contrary to what some of your commenters will claim I’ve been at it for 18 years and certainly haven’t reached the point where I’m comfortable “phoning it in”. The work is too important to give anything less than I absolutely can.

#219 YB Douglas on 08.13.21 at 11:11 am

A one-sided bashing of teachers isn’t called for, Garth. First up, I am not a teacher. I just think they have for too long been the scape goats. All of your readers (the smart ones and the dumb ones) were taught by those teachers. It is a hard, thankless, job (like so many other jobs). My main point is you should have also added that the pension teachers get (and others with a similar pension program) is at the cost of any RRSP contribution. So it’s 100% after tax dollars. That means all the whiners in your comments page get tax deductions for saving for their pension. Teachers get none. So a little “thank you” every now and then from those basking in tax deduction glory, and therefore not paying their fair share of taxes, would be fitting.

#220 JT Dawg on 08.13.21 at 11:13 am

Teachers are right, everyone should pay their fair share. Given that 50% of teachers pensions are funded by the government, they should pay taxes on their future earnings that they will benefit from in retirement. What is brilliant is that teachers wages are artificially low because of their future Pensionable earnings. Example: Teachers top base salary is $96,000 of which 60% is pensionable. This would provide $57,600 in pensionable earnings of which 50% is paid for by the government. Therefore a teachers real earnings based on their future pension is $124,800 not including the 50% which they contributed. This would result in a teacher paying roughly $12,000 more in tax while they are working. Think about how much more we have to earn to compete with a teacher because their wages are artificially low while they are working and thus they are paying artificially low taxes.

Teachers need to pay their fair share of which they are not!

Anyone in the private sector will need to earn roughly 50% more than a teacher and save a substantial amount to be able to have the equivalent retirement, plus they will have contributed significantly more to the governments tax base.

Don’t even get me started on CPP and the way the pension fund games the system to maximize withdrawls.

An alternative might be to remove all RRSP contribution room for public servants and increase the contribution room for those in the private sector? You can’t have it both ways.

Maybe once public servants realized what they really make and how little tax they pay compared to their private sector counterparts in much higher tax brackets they would realize how good they have it.

How do we tax public servants based on their future earnings so that they are paying their fair share? The reality is that all public servants are benefiting from todays tax system. They pay far less taxes than everyone else.

#221 45north on 08.13.21 at 11:21 am

Tax the Rich Campaign

there’s an obvious point that is missed

they need the money

they admit they need it

#222 ImGonnaBeSick on 08.13.21 at 11:23 am

#208 IHCTD9 on 08.13.21 at 10:33 am
#182 Wonder on 08.12.21 at 10:24 pm
If CCB is the primary issue, which party is most likely to reduce the Canada Child Benefit over time?
___

None. These types of handouts never go away, never get reduced, and usually only ever go up.

Plenty of Canadians are getting 1K+ per month, and the benefit is paid out to Moms exclusively with rare exception. It’s political suicide to take this away at this point.

The CCB is a total horror show. A family having 4 kids in quick succession will receive over 27K/yr for about 2 years, and from there almost 23K/yr for 11 more years – tax free!

We unfortunately budgeted kids into our finances before we had them. How stupid was that

Oof.. I have 3.. and I get $0… I did something wrong…nice to know I’m clothing the neighbor teacher’s kids though…

#223 Stoph on 08.13.21 at 11:32 am

#220 JT Dawg on 08.13.21 at 11:13 am

An alternative might be to remove all RRSP contribution room for public servants and increase the contribution room for those in the private sector? You can’t have it both ways.

—————————————————————

An employers pension contribution is a taxable benefit, and their RRSP room is reduced accordingly.

You’re making a fuss about nothing.

If you think public servants are being paid too much, why not become one.

#224 westcdn on 08.13.21 at 11:36 am

Here I go again. Voting for T2 would be drinking poison for me (Kool-Aid). My neighbor asked me to talk to him if I wanted to sell my house as he wanted to buy it. I was puzzled as to why he would want a 2nd home given the renovations he has done to his place.

Oh, I would tear it down so I have a big yard. My lot is one of the biggest. I looked at him – you have to be kidding. Nope. Actually I don’t care if I sell but he is going to wait. Nice guy but don’t piss him off is my read. I heard he is an expected single father and his son is seventeen, lean and tall – guess the gals are all over him.

I cut my RIF withdrawals by 500 a month to attack my debts, boy do I notice. It is getting expensive to live.

#225 Phylis on 08.13.21 at 11:37 am

Skipping out of school isn’t as easy as it once was. Attendance had to be taken to help solve the problem. It didn’t fix the problem. Now the attendance is taken at the end of the pd day. Getting better all the time. Teachers know all the tricks.

#226 Planetgoofy on 08.13.21 at 11:49 am

#80 YVRTeacher on 08.12.21 at 5:32 pm
Rediculous statement.
You obviuosly missed the point. The fact that teachers get behind a unsound idea is the pont….Jags a complete idiot. Just a walking mouth piece.
Ive run a number of small business and Ill tell you, starting, running one and answering to the never ending demads of the gov is waaaaay harder than being a teacher (like you said you gotta want that type of job).
Hrs put in are large and your lucky to be able to pay yourself never mind the no pension fund. AND we people pay your salaries! With out the dwindling small business peep, the country depends on them.
With todays technology its arguable that techers are not even nessasary.

#227 Planetgoofy on 08.13.21 at 11:59 am

Ill add to that…I own 13 properties and the school taxes that add up are rediculous.
Turns schools into housing or hotels.
Zoom boom the kids from home.
Drop a huge carbon foot print via building, heating, cooling, busses, cars ect ect. Just like books are dead.
We just need scocial interaction. Thats what sports are for.

#228 DON on 08.13.21 at 12:30 pm

#211 Russ on 08.13.21 at 10:45 am
#161 Sail Away on 08.12.21 at 8:51 pm
The lesson is that lifelong veterans in their craft love nothing more than free advice from dope smoking hippies.

Never let lack of experience stop you from offering advice!

*********
#172 DON on 08.12.21 at 9:42 pm

Agreed…unless of course one’s craft is growing dope.

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

You guys need to brush up on some reading and comprehension skills.

The lad in the story asked a question to the farmer.

And there is no indication it was pot being carried in the back pack. In the day, it could easily have been MDA, LSD, pornography or a number of other contraband.

***********

Easy there Russ…I was replying to Sail Away not Ustabe. Did you see ‘@Ustabe’ in my reply to Sail Away. Sail away made a generalization and I simply pointed out an altrrnative fact. Personally, I would rather be around a group of pot smoking ‘hippies’ then a bunch of people that can’t handle their alcohol or other drugs. You read into what I said…and I am not sure why…

Cheers.

#229 Sara on 08.13.21 at 12:39 pm

Yahoo! Happy to be watching the federal vaccine-related announcement today. Love how the government is setting an example for the private sector. I think Trudeau will gain a lot of brownie points for this. Shows he has the guts to do the right thing, regardless the naysayers.

Get vaccinated or be prepared to be left out of a lot of services and activities that vaccinated Canadians will be enjoying.

#230 Dr V on 08.13.21 at 12:46 pm

219 YBD

“That means all the whiners in your comments page get tax deductions for saving for their pension. Teachers get none.”

Yeahhh I don’t have a pension but I don’t think that is
the deal.

Is not the employee contribution deducted at source and no tax paid? And the employer contribution just added to the pile (no income realized, no tax paid) then the pension taxed as employment income in retirement?

So no “refund” on the contribution(s) because the tax isn’t paid in the first place.

Like and RRSP, CRA sets a limit to the contributions, and higher income earners may exceed that.

Here’s an explanation for BC

https://pspp.pensionsbc.ca/tax-information-for-active-members

“When you are an active member of BC’s Public Service Pension Plan, your pension contributions are deducted from your gross pensionable earnings on each paycheque. This means your employer deducts your pension contributions from your salary payments before deducting income tax.”

#231 Sara on 08.13.21 at 12:46 pm

edit: Love how the government is setting an example for the private sector *and provincial governments*.

Looking at you Doug Ford.

#232 crowdedelevatorfartz on 08.13.21 at 12:57 pm

@#220 JT Dawg.
“How do we tax public servants based on their future earnings so that they are paying their fair share? The reality is that all public servants are benefiting from todays tax system. They pay far less taxes than everyone else.”

+++

I think a 90% tax rate for all the rich public sector “workers” would be fair.
We would just be reclaiming all the money they didnt earn plus taxes…..

:)-

#233 IHCTD9 on 08.13.21 at 1:02 pm

#199 Another Deckchair on 08.13.21 at 6:21 am
Teachers salary.

In Ontario, go and find the Ontario Sunshine List, and do a search. The data is all there for those making > 100k

http://ontariosunshinelist.com
_____

Interesting, there is a 103.9% increase in teachers hitting the sunshine list in 2020.

**103.9%**…

I bet these teachers are praying the pandemic never ends!

2018-19 = +53.7%
2017-18 = +40.0%

Number of teachers hitting the sunshine list in 2015: 851

Number of teachers hitting the sunshine list in 2020:
6,479 (!)

Yeah, teachers got it soo tough!

#234 Wrk.dover on 08.13.21 at 1:23 pm

#213 IHCTD9 on 08.13.21 at 10:53 am
Would you go to work if income taxes were 100%?
_________________________________

I wouldn’t work if income tax was negative 100%!

It takes too much time.

#235 DON on 08.13.21 at 1:28 pm

#190 Sail Away on 08.13.21 at 12:43 am
#177 Ustabe on 08.12.21 at 9:52 pm

@Sail Away…if you are going to once again begin following me about and insulting me be aware I’m in zero mood to take grief from a socks in Crocs, paunchy, balding, cargo shorts wearing engineer in a two bit, third rate city.

I let the “your mother” tasteless joke you ran by me a few ago pass despite my publicly stating my age here on occasion and the fact that my mother has passed on, chalking that up to simply your entitled sense of what you can get away with online.

Stick with your intersection re-paves and your tee pee or I’ll take you for another walk, hero.

———

It was a ‘yo momma’, and I’ve already mentioned I can’t accept the hero label; I’m just another veteran who fought to protect your freedoms.

Reconsider your life lesson scenario briefly, though. To wit:

An elderly, rural farming couple hears a commotion and looks out to see an erratic, probably drug-addled, long-haired transient chasing turkeys around their front yard. So:

1. The farmer drove the short distance to meet you because openly carrying the shotgun would be too obvious
2. He attempted to be as non-confrontational as possible to avoid a violent reaction, while still delivering his message much as our security guards do every day downtown
3. When you still didn’t leave, he delivered a sandwich to you (driving again, see #1) at the street so you wouldn’t take it upon yourself to visit their house

Glad to help! Let me know if other lived interactions need interpretation.

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

You just can’t manage to stop yourself.

Some think before they react.

#236 DON on 08.13.21 at 1:33 pm

@Russ

Was it the agreed part?

I only agreed with the premise of age and wisfom in one’s craft, not the rest of the mumble jumble trolling session. I see how you might have read into it. These days i read the blog from latest comment to first…I hadn’t gotten to the trolling comments.

On another note got my second shot.
.Friday the 23th muhaha ha!

#237 Chimingin on 08.13.21 at 1:42 pm

#220 – Amen, Dawg. I agree with you.

The teacher and other ranks of the civil servant class are the most entitled and privileged group in the country today, possibly ever, in terms of receiving that which they did not do anything to earn. The perks they have are eye-watering; the economic playing field should be levelled to reflect that, and then, maybe then, we’d see some progress. If they had to stop relying on the public purse for their extremely generous compensation, they’d dry up in a week.

#238 Corps don't pay taxes on 08.13.21 at 1:52 pm

#163 Niagara

In the end corporations never pay taxes, their customers do. Raise their taxes they raise prices. They maintain their profit margin or increase it.

Also, even the most basic understanding of corporate taxes, which you lack, tells you that the reason some corps every year ‘pay zero taxes’ is because they carried forward losses from other years. Perfectly legal, perfectly normal, common sense practice.

Yes the odd one reinvests in constant growth and keeps their tax bill low. They are so few everyone knows them by name.

#239 Ustabe's lesson on 08.13.21 at 1:55 pm

Is that some people have an extraordinary amount of self importance combined with a total lack of self awareness

#240 Phylis on 08.13.21 at 1:57 pm

#233 IHCTD9 on 08.13.21 at 1:02 pm
Xxxxx
Yeah, many were at the threshold in 2019 and didn’t make the list. Those who taught summer school made it. Subsequent raises (on the grid) pushed the others into the club for 2020. I’ll dare to guess the 100% trend won’t continue, but it’s not going to zero!

#241 Barb on 08.13.21 at 2:23 pm

If only embedded photos were allowed.
The one I just saw is entitled:

“Wear a mask or go to jail.
Spanish flu, California. 1918.”

#242 BillyBob on 08.13.21 at 2:51 pm

#183 YVR 60% Crash on 08.12.21 at 10:28 pm
It ONLY takes about 5.5-6 yrs to complete a B.Ed program (Teacher certification in Canada)
Most likely you will get a part-time teaching job for the first several years, no benefits.
Starting wage is around $60k/year full-time. It ONLY takes 15-20 yrs to further your career to make around $90k+.
Anyone interested? I thought so….

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

Oh, bs. My nephew did the degree in 4 years, was a spare for 8 months, and is already full-time in Victoria, not some northern outpost.

If you can name many private sector jobs where you start at 60k with a full DB pension at the age of 23 and are virtually impossible to be fired regardless of effectivity, please list them.

Of course, 60k in Victoria won’t buy you a tool shed, but that’s a separate issue.

#243 Help lift all Canadians to save for their future on 08.13.21 at 7:57 pm

We should have a Canadian savings, investment plan that the government tops up interest rates because the Bank of Canada will not do it. I would prefer the Bank of Canada do it but for now do a interest rate top up. also, CDIC, DICO and other limited deposit insurance coverage should immediately be $500,000.Right now rates on government bond rates and GIC’s, term deposits are anywhere from 1% to 2.4%. I say guarantee a top up 6% so 7% to 8.4% interest rates. All RRSP’s, TFSA’s, DPSP’s are eligible.

It is easy, cut every federal and every government public sector’s future pension plans, new employees and future contributions on existing pension plans only, no more taxpayer funded pension plans for government workers. For those that have a pension plan already paying their pension leave it in place to a maximum $50,000 a year.

Everyone else in Canada, can save their money in through the top up plan interest rates of 6% to 7%+. People have to get back to savings mentality. People that are spending on so much real estate and getting in debt on multiple properties so they can easily redirect that money to saving money every month again. We need to go back to a country of savers, investors and not real estate, debt junkies.

Compound interest of 7% to 8% will double your money guaranteed every 9 to 10 years. Also, RRSP withdrawals made in retirement only should not be taxed no more than 35% and RRSP deductions tax rates should not be more 35%. This is no matter the amount.

TFSA contributions should be increased back to $10,000 and remain completely tax free but once you have $750,000 in there per individual, you will not be eligible for any OAS. We must encourage people to save but for those that truly can’t save or save much to no fault of their own, as long as they don’t have a TFSA no more than $175,000, they should get OAS but paid weekly, minimum 4% annual increases in OAS, plus make OAS to $1,000 a month immediately and make it tax free, no income taxes and no more clawbacks because they do not have a TFSA worth that much and need some benefit to offset them.

We have to stop treating public sector pension plans as special status and help all Canadians save for their future by encouraging them with 7% to 8% annual interest rates and magic of compound interest. This will encourage alot of people to save, make the effort to save again and not reward bad financial behaviour of real estate speculation and real estate debt, being debt junkies of all types.

#244 Canada 2026 on 08.13.21 at 9:03 pm

Sara, when Canada ends up like Venezuela and we are holding worthless Canadian dollars by you have nothing left, you will not need a vaccine passport, vaccine. You will be hungry and starving. Good luck socialists. People deserve the government they choose.

#245 Sara on 08.13.21 at 10:02 pm

#244 Canada 2026, what does your comment have to do with my being happy about today’s announcement by the federal government (btw, I am not a fan of the Liberals). Please elucidate.

#246 Deloris Delane on 08.13.21 at 11:46 pm

Surprising that no one mentioned the teachers “ double dipping”. They ‘retire’ the day the pension vets and simply contract back into their job with same pay and a second pension with all perks of course and get two fat paycheques every month. This practice, which in fairness is common throughout the civil service, keeps thousands of young grads of all stripes, teachers to engineers, out of the job market, out of starting a family, out of buying a home, out of starting a life.

#247 Gina on 08.14.21 at 7:16 am

Sara, are you kidding me. A$1 trillion dollars in new debt in less than 2 years. What do you think money grows on trees. Learn about economics and how the left using their big government for their policies from money, medical, economic, social engineering etc. to ruin a great country like Canada. The poster talking about Venezuela, read up how it happened and then see what the Federal Liberals are doing for years now.

#248 Freezing in the prairies on 08.14.21 at 2:12 pm

@#133 yes the single income earners are always the ones to pay the price…the taxes.

Garth- please do tell me as a single with dogs how do I shelter my income from governments trying to get their hands on whatever I might have left for savings? Wish I could declare my dogs as dependents….