The false flag

Time for some truthiness.

Blog dog Ted, of Cowtown, informs that local Mad Max cult members are using social media to stir the loins of homeowners, claiming Libs are about to drop the hammer on home equity. Yup, capital gains taxes coming when you sell your home.

This claim builds on misleading tweets by the otherwise rational Pierre Pollievre, the Con finance critic. At the heart of the confusion is a new Liberal commitment to slap people who buy and then sell a principal residence in a short period of time. This, critics allege, reveals the real evil lurking within progressive hearts, which is to pay for Covid by eventually looting the principal residence capital gains tax exemption.

So, huh? Anything to this?

Ted says the PPC crew is going nuts, and furnishes this evidence:

If this were true and widely known, of course, there’d be no Liberal MPs after September 20th. Folding all of the profit on a home sale into an owner’s annual income would indeed cause tax mayhem. So far nobody has suggested it. Even a renegade Ontario Liberal caucus recommendation a couple of years ago did not go this far, suggesting instead a 50% tax on any gains within a year of ownership, dropping to 25% after two years and phased out after five years.

What’s the source of this campaign invective?

It’s the anti-flip tax. Says the governing party’s platform: “We will crack down on speculation and house flipping with an anti-flipping tax on residential properties, requiring properties to be held for at least 12 months.”

This is way too vague. A slippery slope. What will the tax be? Maybe the 50% of profits party MPs voted for? And who will be subject to this penalty? People move not just because they’re dirtbag speculators but for jobs, family commitments, financial reversal, illness or when the neighbors an a-hole and smokes weed on the veranda all day. And, by the way, what’s wrong with a ‘flipper’ who buys a beater house and adds value to it by installing a new kitchen, roof, furnace or bathrooms? That person will already have profits taxed as income, so is this anti-flip charge atop that?

Too many questions. And this uncertainty is allowing the issue to morph out of control.

For example, the Canadian Taxpayers Federation took the bait.

“This so-called anti-flipping tax would be a new federal tax on the sale of your primary residence. Your home. The one you live in,” fumes CTFer Kris Sims.

“Right now, it has a caveat requiring owners to live in their house for a year before they can sell it tax-free. But that caveat could change with the stroke of a pen. Make no mistake about this crack in the foundation: Prime Minister Justin Trudeau is proposing a new tax on the sales of our homes. This is a step towards the big home equity tax that many are worried about.”

The anti-tax dudes do have one valid point, which has been highlighted on a certain pathetic blog for the past few years. Everybody selling a home in Canada, whether it’s been a PR for decades or not, is required by law to declare the transaction, the purchase and sale prices and the dates involved on their annual return. The Libs created this disclosure, saying at the time it was a tool to prevent non-residents from claiming the PR exemption. But it’s not. This is a massive data-gathering mechanism with many applications. Creating a tax dependent upon the length of home ownership could certainly one of them.

The media is getting aroused, as well. Here is the hyperbolic conclusion of a columnist for Post Media, where old newspapers go to die:

The Liberals need to come clean about this idea they denied was ever something they would consider. They need to be clear about the taxation level and whether it would apply to more than just those who sell after less than a year in a home. We know the federal government has spent $250,000 studying the idea of implementing a home tax that could bring in an estimated $7 billion a year. Can voters really believe that if elected the Trudeau Liberals wouldn’t bring in a broad-based tax on all home sales?

In war truth is the first casualty. In elections, too. It’s discouraging to see emotional issues like abortion, assault weapons or public health care dragged out in every single campaign when crumbling national finances will impact everyone, and everything. Now political lowlifes are telling wrinklies they’re headed for a 53% tax bracket, will lose their pensions and see their real estate nestegg squished.

That’s not happening. It’s a lie. For now.

About the picture: “Here is my son and  girlfriend’s baby named Finn,” writes Todd. “He’s a 1 yr old, half GreatDane and half Newfoundlander! My first grandson. He loves the breeze . Feel free to use the picture . photo credit Brit.”

142 comments ↓

#1 Howard on 09.08.21 at 1:16 pm

Poilièvre and his colleagues are clearly being disingenuous. But after Trudeau stated with contrived outrage that O’Toole was siding with anti-vaxxers and violent protesters, I’m not going to get too worked up at the CPC offering up some gaslighting in return.

#2 SW on 09.08.21 at 1:21 pm

It’s all very sad. Sign of the times, I suppose.

This election was not necessary, and now it’s being used to drive people apart.

Life is hard. Do try to be kind, everyone.

#3 Jack on 09.08.21 at 1:24 pm

If the liberals get a majority government you better believe a house flipping tax will be implemented for 2022 … that way people won’t remember when the next election rolls around.

#4 Diharv on 09.08.21 at 1:26 pm

It’s not a revenue problem, it’s a spending problem. Everything else is fiction, pie in the sky, and non issues put front and centre by all these lowlifes to cover up the real problem in this country. The national balance sheet.

#5 crowdedelevatorfartz on 09.08.21 at 1:27 pm

I’d take 1 Poilievre over 10 Trudeaus any day of the week.

He has a brain and can speak in complete sentences.

#6 Nick on 09.08.21 at 1:28 pm

So, long story short, no politician (and central bank) will do anything to bring down housing prices. So upa up they will go.

#7 Ted on 09.08.21 at 1:28 pm

Pierre Poilievre is and has always been a slippery weasel with a penchant for sniffing out good opportunities to mislead his poorly informed supporters. That tweet is not at all surprising, and exactly the kind of thing that seasoned observers should know to expect from him.

#8 Jack on 09.08.21 at 1:34 pm

On another note, I have a new daughter and am in the process of setting up an RESP for her. Just found out the lifetime maximum is $50k. Even with good returns this won’t be near enough money to pay for university, room, and board 18 years from now. What’s the best way to save more? I estimate I’ll need about $150k in 2039. Was planning to put away $500 a month, but can only put $230 into an RESP account without going over the lifetime maximum. TFSA’s are maxed as well so that option is out.

#9 Winterpeg on 09.08.21 at 1:35 pm

Hopefully this ( the prospect of capital gains on PR’s) will get hashed out in the debates.
Which ever party wins may need to look at taxing capital gains on PR’s to help the country’s coffers.

#10 jimmy zhao on 09.08.21 at 1:46 pm

Canadians get the government they deserve.

#11 When Will They Rates Rates? on 09.08.21 at 1:47 pm

#139 Faron on 09.08.21 at 10:36 am

#106 When Will They Raise Rates? on 09.07.21 at 10:43 pm

Whew, for a second there I thought you were going to say buyers and sellers in the bond markets.

———

Are you totally clueless? Do you not know how QE works?

#12 Rainman on 09.08.21 at 1:54 pm

It will never happen. Lets be real. :)

#13 My Body My Choice on 09.08.21 at 1:57 pm

Could people be so angry partly because of Future Shock?

“Future Shock is a time phenomenon, a product of the greatly accelerated rate of change in society. It arises from the superimposition of a new culture on an old one.

It is culture shock in one’s own society. Take an individual out of his own culture and set him down suddenly in an environment sharply different from his own … then cut him off from any hope of retreat to a more familiar social landscape and the dislocation he suffers is doubly severe.

Moreover, if this new culture is itself in constant turmoil … and its values incessantly changing, the sense of disorentation will be still further intensified …

Now imagine not merely an individual but an entire society, an entire generation …suddenly transported into this new world. The result is mass disorientation, Future Shock on a grand scale. This is the prospect that man now faces …”

Future Shock, Alvin Toffler, 1970

#14 crowdedelevatorfartz on 09.08.21 at 1:58 pm

@#7 Ted

“************** is and has always been a slippery weasel with a penchant for sniffing out good opportunities to mislead his poorly informed supporters.”

+++

Apologies for copying that statement and deleting the name..

It could apply to most politicians from all political parties.

#15 Ponzius Pilatus on 09.08.21 at 1:58 pm

This thing is closer than the polls suggest.
They are bringing out the gloves, it’s gonna get nasty.
And after all that, we’re probably back at it again in a year or so.
Hopefully, with new more decisive leaders and more distinguishable platforms.
At least the Greens seem to try to work out their mess and go back to their roots. But they have a long way to go.
Unlike the German Greens, who have a good chance of being a coalition partner in Germany’s election.

#16 Faron on 09.08.21 at 1:58 pm

#11 When Will They Rates Rates? on 09.08.21 at 1:47 pm

Do you not know that “they” set some policy while the markets have a major say on the long end of the curve that then has the strongest bearing on growth equities and RE?

Anytime someone speaks of a “they” in investing, it’s always fun to dig into what that means to them.

#17 Prince Polo on 09.08.21 at 1:59 pm

If anybody needs to see people talking over one-another tonight: https://www.cbc.ca/news/politics/election-leaders-debate-how-to-watch-1.6161382

How have the moderators not figured out microphone cut-off-switch technology? Oh right – ratings!

#18 crowdedelevatorfartz on 09.08.21 at 1:59 pm

@#10 Jimmy Zee
“Canadians get the government they deserve.”

+++

One could say that about Communist China as well but why should we belabor the point?

#19 Good job PPC on 09.08.21 at 2:10 pm

My heart goes out to them for doing this..

#20 paddy on 09.08.21 at 2:12 pm

I don’t really see anything wrong with PR capital gains tax…..”Anyone who buys after Jan 2022 will include 50 % of the profit as taxable income and be able to deduct interest and other expenses”…..like any other investment….yes I’m a home owner….yes I have non-reg investments…this monster needs to be contained.

#21 John on 09.08.21 at 2:19 pm

Now political lowlifes are telling wrinklies they’re headed for a 53% tax bracket…

Lowlifes indeed. If you want me to vote Conservative this time around, you’d do well not to mention Pierre Poillievre. That guy makes me nauseous. He’s the kind of sleaze that gives all politicians a bad name. I really don’t need to be reminded that voting Conservative also means putting him in a position of power.

#22 Lee on 09.08.21 at 2:19 pm

“It’s a lie. For now.”

Sounds like a line from 1984.

#23 Steve on 09.08.21 at 2:20 pm

It seems the pc are playing the same game as the liberals. Except for arbortion or gun control, it’s taxes.
Bending or extrapolating. Good for them, maybe it will force politicians to start being very clear and honest. If you believe that I have bridge to sell you.

#24 Graphics Girl on 09.08.21 at 2:21 pm

I’m all for the lies if that’s what it takes to get this clown out.

#25 Millennial 1%er on 09.08.21 at 2:26 pm

If the liberals can do it with gun laws, abortion, and homophobia then why can’t the conservatives do the same?

#26 crowdedelevatorfartz on 09.08.21 at 2:28 pm

Just a quick Question to toss out there.
Has anyone answered a political survey during this election?
I dont know anyone that has.
Where are the pollsters getting their numbers?

#27 Dr V on 09.08.21 at 2:28 pm

8 Jack

“On another note, I have a new daughter and am in the process of setting up an RESP for her. Just found out the lifetime maximum is $50k. Even with good returns this won’t be near enough money to pay for university, room, and board 18 years from now.”

Where did you get the idea it ever would?

Like the CPP, the RESP isn’t intended to be the only potential source of education revenue. There’s nothing stopping her from working and saving some for her own education, And taking on loans if needed. Or you
doing the same.

And don’t buy into the “post secondary education industrial complex” mantra where a fancy degree is required to answer the phone.

Do a little googling, and see just how many programs and institutes where the RESP savings can be applied.

Perhaps a two year diploma in tech or business field
will be covered just fine. That would get her started
nicely.

#28 ElGatoNerodeYVR on 09.08.21 at 2:30 pm

I found this gem of a good intention a couple days ago and it makes a case for the law of the unintended consequences.
=========
#4 Don on 09.07.21 at 2:47 pm
On a personal tax return have the person tick whether they rent or own and the name of the landlord. The mom and pop landlord rarely disclose their rental income to the CRA (75% of those I know do not). This slide in income will push prices lower naturally since cashflow must be adjusted for taxes.
=====
Now I will start with saying I do fully support the concept and we were declaring the rental income on our investment property. Unfortunately fact is that most people don’t so we had to keep the rent low. In the end we decided it’s not worth the hassle compared to the spectacular capital gains so the place is being sold and the renter is out.
This is what will happen if the CRA cracks down :
1) Rents will go up significantly to make up for it ( landlords will go around by renoviction or taking over for owner use and the honest ones keeping it empty for 6 months)
2) Rental stock availability will dive due to point 1 or people cashing out for capital gains .

Again, I do believe a crackdown is warranted but only in conjunction with the govs building co-op housing.

#29 enthalpy on 09.08.21 at 2:30 pm

JT has been disingenuous, gaslighted and lied to us for years.

Two wrongs don’t make a right but this minor game playing by Pierre.

#30 Polozified on 09.08.21 at 2:31 pm

Imagine if the house-flipping tax turned out to be just taxing house profits as business income.

A boon for the accounting industry!

#31 SoggyShorts on 09.08.21 at 2:32 pm

#8 Jack on 09.08.21 at 1:34 pm
On another note, I have a new daughter and am in the process of setting up an RESP for her. Just found out the lifetime maximum is $50k. Even with good returns this won’t be near enough money to pay for university, room, and board 18 years from now. What’s the best way to save more? I estimate I’ll need about $150k in 2039. Was planning to put away $500 a month, but can only put $230 into an RESP account without going over the lifetime maximum. TFSA’s are maxed as well so that option is out.

*********************
Too lazy to slap it into a calculator, but if you contribute 50,000 over 18 years with a decent return shouldn’t it be close to 150K at the end? Or way more since the gov chips in 20%?
Disclaimer: I’ve never paid much attention to resps, no kids.

#32 Phylis on 09.08.21 at 2:33 pm

#13 My Body My Choice on 09.08.21 at 1:57 pm
Could people be so angry partly because of Future Shock?

“Future Shock is a time phenomenon, a product of the greatly accelerated rate of change in society. It arises from the superimposition of a new culture on an old one.

It is culture shock in one’s own society. Take an individual out of his own culture and set him down suddenly in an environment sharply different from his own … then cut him off from any hope of retreat to a more familiar social landscape and the dislocation he suffers is doubly severe.

Moreover, if this new culture is itself in constant turmoil … and its values incessantly changing, the sense of disorentation will be still further intensified …

Now imagine not merely an individual but an entire society, an entire generation …suddenly transported into this new world. The result is mass disorientation, Future Shock on a grand scale. This is the prospect that man now faces …”

Future Shock, Alvin Toffler, 1970
Xxxxxxx
Try taking away a smartphone from a teenager.

#33 UCC on 09.08.21 at 2:38 pm

#8 Jack on 09.08.21 at 1:34 pm
On another note, I have a new daughter and am in the process of setting up an RESP for her. Just found out the lifetime maximum is $50k. Even with good returns this won’t be near enough money to pay for university, room, and board 18 years from now. What’s the best way to save more? I estimate I’ll need about $150k in 2039. Was planning to put away $500 a month, but can only put $230 into an RESP account without going over the lifetime maximum. TFSA’s are maxed as well so that option is out.

——-

Jack, put the 50K in the RESP upfront & don’t worry about the gov portion. That should be north of 160K (@7%) in 17-18 years. All of it your daughters.

#34 TurnerNation on 09.08.21 at 2:45 pm

Tourism Economy/Control over travel & movements. Some hard data

https://threadreaderapp.com/thread/1434337454648004613.html

“Canada opened the land border to fully vaccinated Americans on August 9th, hoping to spur recovery in their destroyed tourism industry.

Border crossings did increase somewhat at first but have steadily declined since: currently down 90% versus 2019”

It’s not that Americans are afraid to travel, either: TSA passenger throughput has nearly recovered to pre-Covid levels:

So, why isn’t anyone going to Canada? You need to download an app, upload proof of vaccination, get a PCR test, upload that into the app, and submit to random testing at the border. You also need to have somewhere you can quarantine for 10 days if you test positive in Canada.
Basically, with this bureaucratic rigmarole, the only people crossing the border are those who need to do so for work or family obligations.

———————-
———————-
Winding down the Former First World Countries. Appears that Australia is indeed the test zone.
Booze..always a currency during times of war. And this is Global WW3 – unleashed March 2020.

https://www.news.com.au/national/nsw-act/news/nsw-health-limits-residents-of-lockeddown-tower-block-to-six-beers-per-day/news-story/0e387ceccee145a611ddb6e38872d3d5
“NSW Health limits residents of locked-down tower block to six beers per day
Residents in a Sydney tower block under a strict coronavirus lockdown are having their alcohol deliveries policed.”

— The wartime Supply Chains to Australia are being cut. Classic war. USPS is United States Postal Service:

.As of Friday, September 3, 2021, USPS temporarily suspended some international services to Australia. This suspension is due to COVID-19 transportation cancellations and restrictions

#35 Yukon Elvis on 09.08.21 at 2:47 pm

In war truth is the first casualty. In elections, too. It’s discouraging to see emotional issues like abortion, assault weapons or public health care dragged out in every single campaign when crumbling national finances will impact everyone, and everything.
+++++++++++++++++

If the Libs can twist and distort and bend and extrapolate and lie then so can the Cons and good on them for doing so.

#36 Dirty Dan on 09.08.21 at 2:48 pm

> So far nobody has suggested it.

If we simply ignore the bulk of the liberal voting base of millennials, then sure. Wait until the the libs think they’re about to lose an election… nothing is more dangerous than a cornered politician with no morals (sorry for being redundant there).

#37 Dr V on 09.08.21 at 2:52 pm

16 Faron – I recall a post by blogger “rates?” where I
was confused for a moment as well. Just the way it was worded, or the context of comments preceding but a
second read clarified. Can you reference it?

11 Rates – apologies if it was not your post.

All is good on the blog.

#38 Dirty Dan on 09.08.21 at 2:54 pm

#21 John on 09.08.21 at 2:19 pm

Lowlifes indeed. If you want me to vote Conservative this time around, you’d do well not to mention Pierre Poillievre. That guy makes me nauseous. He’s the kind of sleaze that gives all politicians a bad name.

Everything I’ve seen from him has been fantastic and on point, even Garth had to refer to him as “otherwise rational”, which is high praise from a lefty.

Send me a video to back up your statement. And don’t try to trick me with a video of Trudeau in blackface.

#39 Vstrom rider on 09.08.21 at 2:55 pm

“And, by the way, what’s wrong with a ‘flipper’ who buys a beater house and adds value to it by installing a new kitchen, roof, furnace or bathrooms? That person will already have profits taxed as income, so is this anti-flip charge atop that?”

It used to be that houses in need of work were bought by lower income families who were willing to live in them and slowly fix them up. This allowed lower income people to still get into the housing market. Nowadays, any such house that comes up on the market gets snapped up by flippers and investors who outbid low income families.

And their profits are not taxed as income because most of them are adept at getting around that tax, eg by falsely claiming it as their primary residence, putting it under their relative’s name, etc. Why do you think Taleeb Noormohamed is refusing to reveal how much taxes he paid on the dozens of houses he flipped?

#40 jimmy zhao on 09.08.21 at 2:58 pm

@#18 crowdedelevatorfartz

+++

#18 crowdedelevatorfartz on 09.08.21 at 1:59 pm
One could say that about Communist China as well but why should we belabor the point?

+++

If Canadians aren’t vigilant, they will be living in a communist country. Vote carefully.

#41 jess on 09.08.21 at 3:17 pm

Ted on 09.08.21 at 1:28 pm

the jim jordon of canada ?

#42 Damifino on 09.08.21 at 3:18 pm

#21 John

Lowlifes indeed. If you want me to vote Conservative this time around, you’d do well not to mention Pierre Poillievre. That guy makes me nauseous. He’s the kind of sleaze that gives all politicians a bad name. I really don’t need to be reminded that voting Conservative also means putting him in a position of power.
—————————————

It shows how differently a public persona can be perceived. I like Poillievre. A lot. He asks great questions of truly slippery people and never seems to get answers.

Then there’s Jordan Peterson whom I also like very much for the same reasons. I have a lifelong friend who despises the ground Peterson treads upon. We handle it by never talking about Jordan. He’s simply off limits. It’s working out well so far.

Although I’ll be quietly rooting for Poillievre, I’ll be sure never to mention him in your presence, John. You could do me a similar favor by never bringing up Elizabeth May. That always sets me off.

#43 jess on 09.08.21 at 3:20 pm

t was one of the biggest financial frauds in Canadian history. Millions of dollars were stolen from pensioners and every-day investors, some who lost their life savings. A judge convicted three Montreal men, including the founder of the once high-profile Quebec animation company Cinar. But while the perpetrators were sent to jail, a question persisted: Where was the missing money? Mark Kelley takes viewers on a journey searching for the missing millions, a story that includes secret accounts, exotic tax havens and even the Mafia.

https://www.cbc.ca/fifth/episodes/2020-2021/the-missing-millions

#44 In Dog We Trust on 09.08.21 at 3:27 pm

#7 Ted on 09.08.21 at 1:28 pm
Pierre Poilievre is and has always been a slippery weasel with a penchant for sniffing out good opportunities to mislead his poorly informed supporters. That tweet is not at all surprising, and exactly the kind of thing that seasoned observers should know to expect from him. ———————- Perfect and Correct observation… The weasel of the Stephen Harper Pack…

#45 jess on 09.08.21 at 3:36 pm

Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat’s Dream

August 2, 2021

What do the Iranian government, a fugitive international jeweler, and a disgraced Harvard University fencing coach have in common? They have all used U.S. real estate to launder their ill-gotten gains. In Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat’s Dream, Global Financial Integrity (GFI) dives into the murky world of global money laundering and demonstrates the ease with which kleptocrats, criminals, sanctions evaders, and corrupt government officials choose the U.S. real estate market as their preferred destination to hide and launder proceeds from illicit activities.

To tell the story of why U.S. real estate continues to remain a favored destination for illicit activity, GFI built a database of more than 100 real estate money laundering cases from the U.S., UK, and Canada, reported between 2015 – 2020. T
The database and accompanying regulatory analysis in this report provide conclusive evidence that the current U.S. regulatory approach, using temporary and location- specific Geographic Targeting Orders (GTOs), has critical shortcomings that will require comprehensive reform before it can adequately address the threats to the U.S. financial system and national security.

https://gfintegrity.org/report/acres-of-money-laundering-why-u-s-real-estate-is-a-kleptocrats-dream/
=========
Homes in Beverly Hills purchased with embezzled money by Kuwaiti officials. A skyscraper in the heart of Manhattan controlled by the Iranian government. Real estate investments from a boutique firm that received millions of dollars from Colombian drug cartels.

…All three examples are cited by a newly released report by Global Financial Integrity, a Washington-based think tank, which describes how dirty money has flowed through U.S. real estate….

The report stressed the need for more robust and targeted regulations and reform of current practices in real estate.

The conclusion was made after an analysis of a database of more than 100 real estate money laundering cases from the U.S., UK, and Canada from 2015 to 2020.“The findings of the report demonstrate that the current approach of the U.S. is woefully inadequate, and that the country’s real estate sector poses significant national security risks by continuing to be a safe haven for criminals and kleptocrats,” the report reads.

At least US$2.3 billion has been laundered over the past five years through U.S. real estate, according to the report, though the estimate, which draws only on reported and known cases of money laundering, is almost certainly just a fraction of the real amount. By comparison, in the same timef rame, at least $1.1 billion and $626 million were laundered in the U.K. and Canada, respectively.

#46 Do we have all the facts on 09.08.21 at 3:37 pm

Those old enough to remember the Carter Commission on tax reform in Canada in the 1960’s understand how trial balloons floated in 2021, such as the imposition of a tax on the capital gained on a primary residence, gain legs as time passes and appetites increase.

The Carter Report in 1968 recommended Federal and Provincial sales taxes become harmonized at the retail level. This suggestion sat on the back burner until it came to realization in 1991.

The capital gains exemption on primary residences seems safe for now but the fact that it is being discussed as a possible source of future revenue indicates that wheels are in motion in the back rooms.

As governments collect information on the escalating value of residential real estate proposals to extract a portion of capital gains will be refined in the same way that market value property taxation evolved.

Once legislation to generate government revenues is passed it becomes difficult for future governments to reverse the decision. The Liberal promise to end the GST in 1993 comes to mind.

Keep your eyes on the tax nibbles around the edges of capital gains. It may start with speculators but there is a good chance it won’t end there.

#47 James on 09.08.21 at 3:51 pm

#18 crowdedelevatorfartz on 09.08.21 at 1:59 pm

@#10 Jimmy Zee
“Canadians get the government they deserve.”

+++

One could say that about Communist China as well but why should we belabor the point?
__________________________________________
But in China you are free to vote for whomever the chairman tells you to vote for.

#48 Dolce Vita on 09.08.21 at 3:52 pm

RE is used as an investment by Cdns.

It should come as no surprise it will be taxed as such.

Same as stock investments.

Quid pro quo.

Good on the Libs if they do this. No more free rides.

#49 James on 09.08.21 at 3:53 pm

The Liberals need to come clean about this idea they denied was ever something they would consider. They need to be clear about the taxation level and whether it would apply to more than just those who sell after less than a year in a home. We know the federal government has spent $250,000 studying the idea of implementing a home tax that could bring in an estimated $7 billion a year. Can voters really believe that if elected the Trudeau Liberals wouldn’t bring in a broad-based tax on all home sales?
______________________________________
If the Liberals thought that they could get away with it they most definitely would do it.

#50 Lead Paint on 09.08.21 at 3:56 pm

“ The Liberals need to come clean about this idea they denied was ever something they would consider.”
Would anyone believe them regardless?

#51 jess on 09.08.21 at 4:00 pm

The motto for some European banks seems to be, “Do as we say, not as we do.”

profitability ratio — how much profit is generated compared to the number of employees

HAVE EUROPEAN BANKS
LEFT TAX HAVENS?
EVIDENCE FROM
COUNTRY-BY-COUNTRY DATA
R E P O R T No.2
Giulia Aliprandi,
Mona Barake,
Paul-Emmanuel Chouc
September 2021

https://www.taxobservatory.eu/wp-content/uploads/2021/09/EU-Tax-Observatory-Report-n%C2%B02-Have-European-banks-left-tax-havens-Evidence-from-country-by-country-data.pdf

#52 Alberta Ed on 09.08.21 at 4:07 pm

Raising the capital gains on houses issue is disingenuous, to be polite, but I wouldn’t trust the Trudeau gang any further than I can spit. OK, not even that far.

#53 Dolce Vita on 09.08.21 at 4:07 pm

So me and my US friends at Lago Como, Tel Aviv couple strike up a conversation and 1st question:

Is Canada going to get rid of that *expletive* Trudeau?

Bellagio not so bello all of a sudden.

Mention of Trudeau in Italia gets an eye roll and no more.

Apparently it gets worse farther afield.

#54 BillyBob on 09.08.21 at 4:18 pm

Trudeau has said so many things that have turned out to be untrue it would be deliciously ironic to have the braying masses turn on him due to one pushed out by his opponents.

You live by the lies, you die by the lies.

Too bad it’s taken six years and the destruction of an economy present and future.

#55 ted not from cowtown on 09.08.21 at 4:27 pm

First off a lot of reasons not to vote liberal so not defending them. But the capital gains tax isn’t scary even if it were implemented. So if the first year was 2022 that would be your base. So you sell in 2023 your gain would be how much it went up in that year. Anyone who says they would go back in time are full of it, that wouldn’t be legal.

#56 BlogDog123 on 09.08.21 at 4:29 pm

Political Pollstering… Annoying robocalls..

Who here has received a ‘robocall survey’ recently? The libs got caught in 2012 doing these kinds of surveys against the rules with “hot button” divisive polling on guns, abortion, etc…

Annoying polling firm shady business! Shouldn’t be allowed, but the CRTC allows them even during election cycles.

https://www.cbc.ca/news/politics/liberal-campaign-in-guelph-fined-for-robocalls-violation-1.1177594

#57 John on 09.08.21 at 4:31 pm

@#38 Dirty Dan

Everything I’ve seen from him has been fantastic and on point, even Garth had to refer to him as “otherwise rational”, which is high praise from a lefty.

Send me a video to back up your statement. And don’t try to trick me with a video of Trudeau in blackface.

Honestly Dan, if you really believe that, then I can only conclude that you’ve been viewing him with partisan-colored glasses. Poillievre has a well deserved reputation as a hyper-partisan attack dog. He’s more than willing to bend, distort, and outright lie. If the statement Garth quoted isn’t enough for you, then I suggest you Google and fact check some of his past statements. You also might want to look into his career before politics. (Hint: you won’t find one.)

And you think Garth is a lefty? Seriously?

#58 45north on 09.08.21 at 4:50 pm

Diharv It’s not a revenue problem, it’s a spending problem. Everything else is fiction, pie in the sky, and non issues put front and centre by all these lowlifes to cover up the real problem in this country. The national balance sheet.

the tax base provides the revenue. I guess it changes year-to-year but it’s pretty much a constant. Spending is out-of-control. The government is borrowing $400 million a day. There are a lot of sacred cows that need to be slaughtered. The gun buy-back cost $600 million – call it $800 million – that’s only the borrowing for two days. Obviously there are going to be cuts to other programs. We just haven’t heard about them yet.

#59 Entrepreneur on 09.08.21 at 4:51 pm

And their game goes on with Liberals, what next, one thing after another. When T2 first won someone on the news said he will turn Canada upside down. I say upside down and inside out, squeezed too hard and too much.
As a Prime Minister, T2 lacks leadership for our country, dividing Canadians, the push, the rush on many issues, his way.

As for Singh, he danced with T2 for about 18 months with big decisions making, both together able to pass whatever so needed. Now he is back to leading NDP. Not adding up to me, hmmm, no matter how he spins his reasonings.

Canada is in trouble, leaving the workling classes in shock! Left behind, breathless.

And the word Science is used too generally, lacking credible facts and figures to prove it is really Science.

Erin O’Toole has shown leadership for our country in this mess. His is thinking of the working classes, taxpaying citizens. Also heard that he served the Military for many years. Thumbs up to O’Toole.

Wts, why is the News Media not interviewing PPC, Max Bernier, elected or not? So MB is not allowed on the debates, the news media have flashes of him but I would like to hear more from him, not just a sentence or two.

When O’Toole and his family were on the news awhile back I noticed his wife and daughter holding and hugging. To me that shows caring in the family, passion.

#60 Howard on 09.08.21 at 4:55 pm

Perhaps Poilièvre’s style isn’t for everyone and he’s probably too polarizing to ever be party leader, but I did relish his takedown of Mark Carney’s treasonous hypocrisy, endorsing oil and gas development and infrastructure for Brazil but not for Canada and Canadian workers. I wonder if that grilling was the moment Carney decided that politics wasn’t for him after all.

#61 NOSTRADAMUS on 09.08.21 at 4:57 pm

TAP OUT.
There never has been, and there never will be a Banker who will let you tap out when you have had enough. As you begin to run out of money, you will come to the realization there is no way to break their choke hold, not even a U.F.C. fighter can break free when they have dug in. Shortly, a large number of the overindebted will be served a slice of humble pie as the bankers start hitting you with some sweet chin music along with a series of piston like, left and right hand bombs which will leave you senseless and end your borrowing game. Some people are suggesting that I have fallen into the trap of the single story. This may be so, however, as days grow shorter, the “The Ides Of November” grow closer. I am on my throne and I will not step down.

#62 Penny Henny on 09.08.21 at 5:02 pm

#1 Howard on 09.08.21 at 1:16 pm
Poilièvre and his colleagues are clearly being disingenuous. But after Trudeau stated with contrived outrage that O’Toole was siding with anti-vaxxers and violent protesters, I’m not going to get too worked up at the CPC offering up some gaslighting in return.
////////////

EXACTLY!

#63 Annek on 09.08.21 at 5:08 pm

As much as I dislike T2 and the Liberals, I feel that taxing flippers is a good idea. They buy a house , relist it after a few shoddy renovations then sell at a tax free profit.
Perhaps there are a few honest renovators, but much of this is underground. This has been driving up the house prices. Our neighbour did this, went on to buy another house and did the same. His workmanship was shoddy, but the place looked good. No permits were applied for. The people who bought it, without inspection, had to fix many wrongs in the house.

Proceeds are not tax free. Myth. – Garth

#64 Flop… on 09.08.21 at 5:09 pm

Stick and stones may break my bones but stop throwing gravel at my new shirt and election tour bus.

Two Trudeau’s don’t make a right…

M47BC

#65 Annek on 09.08.21 at 5:10 pm

#5 crowdedelevatorfartz on 09.08.21 at 1:27 pm
I’d take 1 Poilievre over 10 Trudeaus any day of the week.

He has a brain and can speak in complete sentences.
……..
I totally agree!

#66 Ustabe on 09.08.21 at 5:17 pm

Howard:

Do tell us all about this special insider knowledge you claim to have of nefarious activity within the Conservative Party.

I didn’t claim to have insider knowledge, that is your straw man. Nor did I use the term nefarious because I actually know what it means and would not use it in this context. Again, your inflammatory addition to what I wrote.

However I do know folks who do have this insider knowledge. Its what happens if you have been active in the conservative side of things for 50-60 years as I have.

I presume these delusions will intensify if O’Toole becomes PM and you’ll come here claiming to have a direct line to a mole in the PMO.

Your fantasy, not mine and almost a gold plated example of purity testing, gatekeeping and straw man arguing…all things I would think a proper, sturdy conservative person would avoid.

What’s wrong Gallant and Sweet? They represent their constituents. A bit quirky.

A bit quirky? I guess espousing points of view that are the antithesis of what the majority of Canadians would willingly uphold is described as quirky then that tells me everything I need to know about the state of present day CPC.

#67 tbone on 09.08.21 at 5:18 pm

I got a robo call a few days ago regarding the election .
Im going to vote on friday . The lib guy will probably win again , but its a nice walk to the library . I used to take my kids there when they were little.

#68 Carrie on 09.08.21 at 5:39 pm

Where is O’Toole appearing these days anyway? He never seems to be in public. Are the anti-vaxxers targeting his campaign too? Where’s that media footage? Is that why he can’t commit to a vaccine passport or confirm that members of his own party have been vaccinated? Why the secrecy? Many of us non conservatives are certain these anti-vaxxer/extremists are his base which is why we assume, his response is so meek.
I wish the obvious conservative bias of our own media, of which a significant percentage is conservative American owned would be an issues on this election’s agenda too, but alas, there are bigger fish to fry. Everything about conservative America scares me these days and their propaganda media gives me chills. It’s obvious overflow here is deeply concerning. Still, I’ve been watching the criminally irresponsible lack of leadership from both conservative provincial premiers Jason Kenney and Doug Ford and apart from their appalling pandemic management, they act like they’re running fiefdoms. They’re good examples of conservative rule gone stark raving mad. Don’t come at me, it’s my opinion, but it’s why back in 2015, I was among the vast majority who voted the conservatives out and why I’ll never vote for them again; not over housing or any of their pie in the sky platforms they try advertise as progressive but which will all translate into cut, cut, slash, eliminate, end, burn, privatize, sell. We’ve seen it before, only now their base is scarier.

#69 Howard on 09.08.21 at 5:39 pm

#66 Ustabe on 09.08.21 at 5:17 pm

A bit quirky? I guess espousing points of view that are the antithesis of what the majority of Canadians would willingly uphold is described as quirky then that tells me everything I need to know about the state of present day CPC.

————————————-

Funny thing about views.

Sometimes minority views become majority. In fact this happens very frequently through the tide of history.

And even if they don’t, people who espouse those views have a right to participate in the political process like anyone else.

#70 truefacts on 09.08.21 at 5:56 pm

The Trudeau Liberals (with Christia) will add a lot of new taxes if re-elected.

House taxes? Who knows…Trudeau has broken so many other promises how can anyone know what his future schemes are?

#71 Ricker on 09.08.21 at 5:57 pm

I never thought that I could see Pierre Pollievre and rational in the same sentence. Just a Reform Party, oh, I mean Conservative Party, right-wing attack puppy.

#72 Dirty Dan on 09.08.21 at 5:58 pm

#57 John on 09.08.21 at 4:31 pm
@#38 Dirty Dan

1. You seem to have all this evidence on the ready. I’m willing to check out some links.

2. And you think Garth is a lefty? Seriously?

Ask him.

#73 Steven Rowlandson on 09.08.21 at 6:17 pm

Too many false flag operations and liars in high places in recent history.

#74 AM in MN on 09.08.21 at 6:23 pm

Too much focus on the details Garth. Look at the crap pushed by the left and the media over and over again to try and scare voters about conservatives.

If the country doesn’t let the industrial economy grow, then the real estate industry is going to have be the source for the revenue the government needs, there isn’t any other source. Try to keep an eye on the big picture.

Pierre Poillievre is one of the very, very few MPs who understands the scam being run by the central banks right now. Quite frankly he understands it better than Garth does.

There is no magic source of free money, but that doesn’t stop the left from pushing it and ending up a second rate economy.

Your choice to make….

#75 Elon Fanboy on 09.08.21 at 6:27 pm

I’ve come to the conclusion that the hardest part of ‘15 days to flatten’ the curve is the first 18 months.

#76 Lee Hamilton on 09.08.21 at 6:30 pm

I’m certainly not a tax lover, but as a renter with a strong portfolio… I wonder if anyone can explain the justification that someone can be forced to pay cap gains tax on $1 from a non-registered account, yet a $3 million windfall resulting from a house sale is sacredly exempted from the taxman.

And don’t tell me that people need it for retirement or for the down payment for their next house. That’s people justifying housing as a form of investment… which should be taxed no differently than any other investment vehicle.

How is it that 100 miles south of us, Americans are selling comparable houses for half, or in some cases 1/3 the price of ours, and no ones crying that their houses constitute the entirety of their retirement so it should be immune…

#77 Quintilian on 09.08.21 at 6:39 pm

As I said many times before, the rednecks in Canada are cousins of the Retrumplicans.

The only way you can actually distinguish them is that the nutbars from the south wave the American flag.

The rest is the same, if it walks like a duck, and quacks like a duck……

#78 Yorkville renter on 09.08.21 at 6:59 pm

12 months is basically nothing… after demo, planning, trades, finishing, etc you’re easily 6-8 months in. You think the developer won’t wait 4 months to save $100k+ on taxes?

more talk and no action.

just raise rates FFS

#79 Drill Baby Drill on 09.08.21 at 7:01 pm

New taxes on home sales is just too tempting for the government to ignore. As soon as a party has a majority then it will happen. Canada is in too much debt.

#80 crowdedelevatorfartz on 09.08.21 at 7:11 pm

@#77 Quacking Quintillions Quivering Quandary

Poor poor little misguided duck…flying North for winter..

I’m hoping for a Conservative win but I enjoy arguing with my Trumpian friends down south about what an idiot “the Orange One” is.
I have a bet with them that he will be in prison before he is ever re-elected.

#81 espressobob on 09.08.21 at 7:24 pm

Voters should demand a third jab. Now!

A turkey in every oven, well that works for populism, and out of touch with reality, something no politician will touch.

If you can’t dazzle them with brilliance, baffle them with bullshit.

#82 The Dood on 09.08.21 at 7:29 pm

#76 Lee Hamilton on 09.08.21 at 6:30 pm
I’m certainly not a tax lover, but as a renter with a strong portfolio… I wonder if anyone can explain the justification that someone can be forced to pay cap gains tax on $1 from a non-registered account, yet a $3 million windfall resulting from a house sale is sacredly exempted from the taxman.

And don’t tell me that people need it for retirement or for the down payment for their next house. That’s people justifying housing as a form of investment… which should be taxed no differently than any other investment vehicle.

How is it that 100 miles south of us, Americans are selling comparable houses for half, or in some cases 1/3 the price of ours, and no ones crying that their houses constitute the entirety of their retirement so it should be immune…
__________________________________

It’s absolutely stupid what’s been allowed to happen in Canada. How many have their entire retirement plan tied up in their residence. Utterly ridiculous. And political leadership are now in position where they HAVE to do everything they can to prevent it from blowing up, because if it is allowed to, how many face financial ruin?

The root of the problem is financial illiteracy, which includes many holding public office.

As for America, they make more, pay less tax, have more discretionary income, have more investment opportunities, and think of their house as a roof over their head (and storage for guns and such!).

#83 Ponzius Pilatus on 09.08.21 at 7:39 pm

#53 Dolce Vita on 09.08.21 at 4:07 pm
So me and my US friends at Lago Como, Tel Aviv couple strike up a conversation and 1st question:

Is Canada going to get rid of that *expletive* Trudeau?
Bellagio not so bello all of a sudden.
Mention of Trudeau in Italia gets an eye roll and no more.
Apparently it gets worse farther afield.
————–
Wow, you and friends at Lake Como.
You suddenly a high flying big-shot?
And your “friends” actually know JT.
Doesn’t surprise me, JT is quite well known in Europe, and a good friend of Merkel and Macron.
What worries me is, how the rookie Erin will represent Canada on the World stage. Has he ever travelled outside of North America?
I bet that no one in Canada knows your buddy, the often recycled Draghi.
Because he’s a nobody in Europe, the EU is tired of supporting countries that don’t pull their weight.
Like Italia, Poland, Cheque Republic and Hungary.

#84 crowdedelevatorfartz on 09.08.21 at 7:49 pm

@#83 Ponzie’s Psilocybin Psychosis
“Doesn’t surprise me, JT is quite well known in Europe, and a good friend of Merkel and Macron.”

+++++

AHAHAHAHAHAHAHA
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA.
BWAHAHAHAHAHAHAHAHAHA.

Thanks for that laugh.

Trudeau is an amusing anecdote at late night cocktail parties with real leaders….alll…..over…..the…..world.

#85 Unrepresented on 09.08.21 at 7:49 pm

Debate that’s all scripted and staged. Questions pre-selected and previewed. Nothing meaningful.

In this day of ability to decide right in their hands, it makes you wonder…why we can roll out Vaccine Passport so fast, but not ability to tell our politicians how we feel on issues and how we want them to solve our problems.

How much longer does this farce get to take place? The one where we transfer our power to decide over to people we don’t even know. People who will lie and say anything to get us to give them this power.

#86 mark on 09.08.21 at 7:51 pm

Given he’s in Calgary, I’m not sure there’s much to be worried about on the capital gains front. Scrolling through the listings I see some ok looking houses at prices people must have lost some bucks on.

#87 crowdedelevatorfartz on 09.08.21 at 7:51 pm

@#75 Elon Fatboy
“I’ve come to the conclusion that the hardest part of ‘15 days to flatten’ the curve is the first 18 months.”

+++

You must have been reading a Jenny Craig diet plan and mistook it for another Tesla self promo…

#88 Matt W on 09.08.21 at 8:04 pm

Hi Garth, why are people ‘dirtbag speculators’ if they are willing to do work others are not. And have the balls to invest in a property. If people are playing within the rules, I’m not convinced they should be put down.

#89 espressobob on 09.08.21 at 8:21 pm

Dump CMHC. That would provide a new reality most couldn’t handle.

A call on debt that can never be paid.

#90 Ponzius Pilatus on 09.08.21 at 8:51 pm

#84 CEV
AHAHAHAHAHAHAHA
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA.
BWAHAHAHAHAHAHAHAHAHA.
—————
You ok?

#91 When Will They Raise Rates? on 09.08.21 at 8:54 pm

#16 Faron on 09.08.21 at 1:58 pm

#11 When Will They Rates Rates? on 09.08.21 at 1:47 pm

Do you not know that “they” set some policy while the markets have a major say on the long end of the curve that then has the strongest bearing on growth equities and RE?

Anytime someone speaks of a “they” in investing, it’s always fun to dig into what that means to them.

————-

The central banks have the tools to manipulate rates across the entire yield curve. What happened to the prime rate when Volker raised the Fed funds rate to 20% in 1980? It went to 21.5%

So, when will THEY raise rates?

#92 Doug t on 09.08.21 at 8:55 pm

Anti tax
Anti vax
All this bs is anti fax

#93 BillyBob on 09.08.21 at 9:07 pm

#83 Ponzius Pilatus on 09.08.21 at 7:39 pm

Wow, you and friends at Lake Como.
You suddenly a high flying big-shot?
And your “friends” actually know JT.
Doesn’t surprise me, JT is quite well known in Europe, and a good friend of Merkel and Macron.
What worries me is, how the rookie Erin will represent Canada on the World stage. Has he ever travelled outside of North America?
I bet that no one in Canada knows your buddy, the often recycled Draghi.
Because he’s a nobody in Europe, the EU is tired of supporting countries that don’t pull their weight.
Like Italia, Poland, Cheque Republic and Hungary.

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

hahaha! You forgot Austria.

I’m guessing that O’Toole probably did a bit of traveling when he was in the Canadian Forces. How long did your idol serve again? At the very least, I can’t see O’Toole giggling gossip like a schoolgirl at Buckingham Palace like Trudeau. Or playing dressup in India. And on and on.

See the difference here? You just toss out insults, whereas I mention things that JT actually embarrassed the country with.

Tough times for Liberal syncophants these days.

#94 Dr V on 09.08.21 at 9:09 pm

90 Oh Ponz. You care after all. Group hug (no farting though!)

#95 SW on 09.08.21 at 9:12 pm

So…we have:
Mr. Turner (our lovely, pouting host) is a lefty!
The Canadian media have a conservative bias.
The Canadian media have an anti-conservative bias.

Logically, at least one of these statements must be incorrect.

#96 Drinking on 09.08.21 at 9:36 pm

Non issue, the Libs have done a thousand times worse with their lies!

#97 Quintilian on 09.08.21 at 9:39 pm

“So, when will THEY raise rates?”

Not anytime soon, not anytime in a long time, perhaps not in the next decade.
Central Bankers are lapdogs of the super rich, and politicians.

There are trillions of dollars in bonds maturing at real negative rates, and they will be reinvested in real negative yields again.

The super rich get the security of capital preservation, through their bond holdings, while they get free financing for their investments outside of their bonds. The rich borrow from Grandma and Grandpa’s savings at less than inflation

Notice the supercharged growth inequities?
It certainly makes up for the dismal yield on the bond side.

But good news, if you are waiting for the housing bubble to burst.

Interest rates do not have to rise, only prices need to race to the cliff.

#98 When Will They Raise Rates? on 09.08.21 at 9:55 pm

#97 Quintilian on 09.08.21 at 9:39 pm

“So, when will THEY raise rates?”

Not anytime soon, not anytime in a long time, perhaps not in the next decade.
Central Bankers are lapdogs of the super rich, and politicians.

There are trillions of dollars in bonds maturing at real negative rates, and they will be reinvested in real negative yields again.

The super rich get the security of capital preservation, through their bond holdings, while they get free financing for their investments outside of their bonds. The rich borrow from Grandma and Grandpa’s savings at less than inflation

Notice the supercharged growth inequities?
It certainly makes up for the dismal yield on the bond side.

But good news, if you are waiting for the housing bubble to burst.

Interest rates do not have to rise, only prices need to race to the cliff

—————-

Oh, I agree they’re not raising rates anytime soon, much less actually normalizing. That would collapse the entire system, especially when you take into account trillions (some say quadrillions) in derivatives. If they normalized, it would be a cascadibg effect of defaults that would result in unimaginable consequences…

My handle is a rhetorical question meant to place the focus on the real problem, sadly lost on Faron.

#99 Michael in-north-york on 09.08.21 at 10:01 pm

#20 paddy on 09.08.21 at 2:12 pm

I don’t really see anything wrong with PR capital gains tax…..”Anyone who buys after Jan 2022 will include 50 % of the profit as taxable income and be able to deduct interest and other expenses”…..like any other investment….yes I’m a home owner….yes I have non-reg investments…this monster needs to be contained.
===

Fair, in some ways. But it will greatly hinder the personal mobility.

People won’t be able to sell and move to another area or another city. Because if they sell and pay the capital gains tax, they won’t have enough dough left to buy a house of comparable size and quality.

Therefore, prices fall. – Garth

#100 crowdedelevatorfartz on 09.08.21 at 10:03 pm

Why is the media saying tonight’s debate in French is the first debate?

The leaders debated in French , in Quebec, last week.

Tomorrow will be the 3rd debate in Quebec and the first in English.

#101 Barb on 09.08.21 at 10:19 pm

#39
“And their profits are not taxed as income because most of them are adept at getting around that tax, eg by falsely claiming it as their primary residence, putting it under their relative’s name, etc. Why do you think Taleeb Noormohamed is refusing to reveal how much taxes he paid on the dozens of houses he flipped?”

——————————
The B.C. gov’t is finally “onto” it, as all Homeowner Grant applications as of 2021 must be made to the provincial government, versus the municipality in which the house is situated.

The B.C. Liberals could easily have done that, but they were too busy ignoring the casino money laundering situations. I hate to give Horgan the credit, but he implemented the new application procedure.

#102 Cici on 09.08.21 at 10:26 pm

The Fiberals? … Oops, they did it again:

https://www.cbc.ca/news/politics/indigenous-peoples-commission-resignation-1.6168910

#103 Ponzius Pilatus on 09.08.21 at 10:29 pm

#93 Billy Bob

hahaha! You forgot Austria.

I’m guessing that O’Toole probably did a bit of traveling when he was in the Canadian Forces. How long did your idol serve again? At the very least, I can’t see O’Toole giggling gossip like a schoolgirl at Buckingham Palace like Trudeau. Or playing dressup in India. And on and on.

See the difference here? You just toss out insults, whereas I mention things that JT actually embarrassed the country with.

Tough times for Liberal syncophants these days.
————-
Keep up.
I declared a few times here already that I won’t be voting for JT or the Liberals this time.
Nothing on their platform that makes me yodel.
The only thing that cranks my Lederhosens is the environment and public transport.
As no major party cares about these issues, they may have to do without my vote.

#104 Ponzius Pilatus on 09.08.21 at 10:34 pm

#94 Dr V on 09.08.21 at 9:09 pm
90 Oh Ponz. You care after all. Group hug (no farting though!)
————
Of course, I care.
CEF and I go back a long time.
A few minor disagreements won’t come between us.

#105 vaxport.1 on 09.08.21 at 10:36 pm

“Now political lowlifes are telling wrinklies they’re headed for a 53% tax bracket, will lose their pensions and see their real estate nestegg squished.

That’s not happening. It’s a lie. For now.”
++++++++++++++++++++++++++++++++++

Yes, ‘for now’.

I remember back in May-June of 2020 when a ‘leaked’ email suggested a vaccine-passport was down the road and most (including myself), thought it was a crazy conspiracy theory.

Well, here we are!

#106 Duffy on 09.08.21 at 10:56 pm

If T2 plants his 2 billion trees before Sept 20 I’ll vote for Otool.

#107 fishman on 09.08.21 at 10:57 pm

Ok,I get it Carrie. The Conservatives are scary. You’ll never vote for them. And you never will. Of course you never will because this is as far left as the Cons will ever go. And you are right on the money saying their base is scarier than ever. But you can go to bed tonite no worries knowing that another Lib/Dipper government will make all good in our big beautiful country. O’Toole will be kicked in the gutter for a more progressive candidate, (from Quebec) of course. The base will see the error of their ways & start including lil potato in their nightly prayers. Kenny will immediately cancel the referendum on equalization payments. All Western Canadians will join hands & sing Kumbaya (including a french verse). All good. Count some sheep. Sleep tight, don’t let the bedbugs bite.

#108 Rural Rick on 09.08.21 at 10:58 pm

I am not convinced that the Liberals want to win this election. Sometimes it is better to pass the feces laden stick to some one else. Let them fail when it all come homes to roost. Then ride in to the rescue. Anyone remember Ontario’s Premier Mike Harris’s last campaign.
Just a thought.

#109 Tom from Mississauga on 09.08.21 at 11:20 pm

Today oil went up, natural gas went parabolic yet the C$ fell. Have these things decoupled? In 2005-08 a rising C$ protected us beavers from the worst of energy inflation. Can you, Doug or Ryan do a post on what’s happening here? Maybe throw in something on renewables, like do they matter, if so when? The cost this winter of home heating is going to be ridiculous, heck, a cord of firewood in Halliburton is $450 not including delivery and HST!

#110 Exodus 2020 on 09.08.21 at 11:53 pm

If I was from the prairies I’d be pissed at the gov not taxing capital gains. Alberta properties have gained next to nothing in 10 years while Ontario and BC have seen triple digit tax free gains. And this after all the years of transfers to Ottawa when oil provinces were booming and making the country richer. BC and Ontario real estate is not producing wealth, it’s just concentrating it.

#111 Long-Time Lurker on 09.09.21 at 1:54 am

>For the record. This sounds like a case of Covid “Vaccine” Anti-Body Dependent Enhancement / Pathogenic Priming. This is my only warning Canada et al. I won’t be back here again.

Man dies in Des Moines hospital after staff can’t find ICU room in Nebraska
‘We called 23 different hospitals’

KETV Updated: 7:37 AM CDT Sep 3, 2021

DES MOINES, Iowa (KETV) —

…He said McConnaughey had a severe shoulder injury that got worse. Zaruba believes McConnaughey may have also had an asymptomatic COVID-19 infection that played a role.

“That triggered an inflammatory response through his body that cause multi-organ failure,” Zaruba said.

McConnaughey was never tested for COVID-19 but showed many of the signs for COVID according to Zaruba. He said McConnaughey was fully vaccinated….

https://www.kcci.com/article/nebraska-man-dies-in-des-moines-hospital-after-staff-cant-find-icu-room-in-nebraska/37472588

#112 Nerb on 09.09.21 at 6:10 am

In regards to the possible capital gains on a house sale. The capital gain would be the difference between the purchase price + land transfer tax+legal fees+improvements+selling real estate fees+ legal fees again+ Interest / loan charges on the mortgage + any HST and the selling price. In many cases particularly if the period was short this would be a capital loss which could be used against investment capital gains. Looking at the inflated real estate values today if the government put in capital gains on the PR it would most likely result in less tax collected and certainly better for the homeowner if house prices do not rise substantially.

#113 crowdedelevatorfartz on 09.09.21 at 8:29 am

@#111 Lurker

“That triggered an inflammatory response through his body that cause multi-organ failure,” Zaruba said.”

+++

The approaching flu season could be a real bell ringer.
All the other deaths world wide will look like a game of scrimmage in comparison to game 7 of the Stanley Cup.

Anti vaxx’ers killed by their own overcompensating immune system….. the irony.

China only has about 10% of it’s population vaxxed.
The sinovaxx has been proven to be less effective than western vaccines.
They are relying on ruthless isolation tactics and Covid Delta has proven to be far far more effective at spreading with zero symptoms…essentially closing the gate after the rabid dog has bolted.

Think there’s shortages of manufactured goods now?

Pandemic Part four 2022.
The year the factories closed.

#114 James on 09.09.21 at 9:12 am

Perhaps the most heated exchange of the entire debate was when Yves-François Blanchet asked why Liberal Leader Justin Trudeau won’t impose positions on Indigenous peoples but will do the same for Quebecers.

Trudeau quickly exploded at the Bloc Quebecois leader, his face turning red.

“Because I am a Quebecer,” Trudeau said, his voice rising. “You keep forgetting: I’m a Quebecer, I’m a proud Quebecer, I’ve always been a Quebecer, I’ll always be a Quebecer.

“You do not have a monopoly over Quebec … You take the Quebec government’s record as if it’s your own,” Trudeau continued. “You have no right to consider me not a Quebecer.”
From last nights debate.
__________________________________________
Classic Trudeau trying to be everything to everyone. The truth is he was born in Ottawa and has lived in Ontario, Quebec and British Columbia. He may represent the riding of Papineau but a Quebecer? Not in my books. A wannabe yes!

#115 the Jaguar on 09.09.21 at 9:12 am

@#114 crowdedelevatorfartz on 09.09.21 at 8:29 am

Think there’s shortages of manufactured goods now?

Pandemic Part four 2022.
The year the factories closed.++++

If this should come to pass the issue of supply chain safety and self sufficiency will really come under scrutiny. Now, pardon me while I excuse myself to do a quick inventory of indispensable household and pantry items….

#116 James on 09.09.21 at 9:15 am

114 crowdedelevatorfartz on 09.09.21 at 8:29 am

@#111 Lurker

“That triggered an inflammatory response through his body that cause multi-organ failure,” Zaruba said.”

+++

The approaching flu season could be a real bell ringer.
All the other deaths world wide will look like a game of scrimmage in comparison to game 7 of the Stanley Cup.

Anti vaxx’ers killed by their own overcompensating immune system….. the irony.

China only has about 10% of it’s population vaxxed.
The sinovaxx has been proven to be less effective than western vaccines.
They are relying on ruthless isolation tactics and Covid Delta has proven to be far far more effective at spreading with zero symptoms…essentially closing the gate after the rabid dog has bolted.

Think there’s shortages of manufactured goods now?

Pandemic Part four 2022.
The year the factories closed.
__________________________________________
As long as they are Chinese factories I’m OK with that!

#117 Jesse on 09.09.21 at 9:38 am

After COVID, Canada has the worst debt levels of any industrialized nation. How does Canada plan to pay for all this debt?

#118 Dharma Bum on 09.09.21 at 9:45 am

Dolce de Lecher

“Good on the Libs if they do this. No more free rides.”
————————————————————————————

Are you serious?

C’mon!

That would be like taxings Italians on pasta consumption and hand waving.

Just cruel and unusual.

This September 20th do Canada a great service and VOTE OUT TRUDEAU.

It’s not about Libs, Cons, Dippers, Greens, or Maxidiots.

It’s about GETTING RID OF THE TRUDEAU CURSE.

Now, go do the right thing.

#119 John on 09.09.21 at 9:46 am

@#72 Dirty Dan on 09.08.21 at 5:58 pm
1. You seem to have all this evidence on the ready. I’m willing to check out some links.

2. And you think Garth is a lefty? Seriously?

Ask him.

No. If you’re willing to keep an open mind, then do your own homework.

#120 Oakville Rocks! on 09.09.21 at 10:30 am

@#114 CEF

“China only has about 10% of it’s population vaxxed.”
Where are you getting this from?

10% ?? this number does not seem extremely low to you given that China’s Sinovac was ready about the same time as Pfizer & Moderna and no one would doubt China’s ability to produce vaccine quickly.?

According to Reuters as of this morning:
“Mainland China has administered at least 2,124,582,000 doses of COVID vaccines so far. Assuming every person needs 2 doses, that’s enough to have vaccinated about 76% of the country’s population.”
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/countries-and-territories/china/

#121 IHCTD9 on 09.09.21 at 10:44 am

There’s really no point in getting fired up over Canadian politics at this point. We are predestined for major financial troubles no matter what happens, and no matter who wins. Trudeau has already wrecked what was a perfectly good country – it’s just going to take probably a decade for the wheels start falling off.

So, expecting a more affordable cost of living? Not in post-Trudeau Canada you don’t. Education, food, housing – everything you actually need is going to keep on rising.

Who knows, maybe in 20-30 years, we’ll all be living with 8 roomies or have 15 family members all packed into a house that used to contain a 3-5 person family unit.

Sounds like a ball. On top of that, we’ll get to sweat bullets every time the BoC even hints at bumping the rates by .0001%. We are maxed out on debt right across the board. We simply can’t handle any increases anywhere, because Trudeau put all our chips down. It’s really just a waiting game now.

#122 Nick on 09.09.21 at 10:53 am

“otherwise rational” Pierre Pollievre?
You mean the guy that doesn’t understand inflation, global energy markets, Indigenous affairs, and has never not worked in government?

Love you Garth but maybe you’re getting a little out of touch…

I know him. Do you? – Garth

#123 KLNR on 09.09.21 at 11:03 am

Pierre Poillievre is always good for a laugh.

#124 Planetgoofy on 09.09.21 at 11:04 am

Did anyone ever think about the downsizing goverment….ALOT. Reducing regulation and control? Nope. They only take that approach when it comes to oversight of themselves.
This is One of the biggest problems. Self serving and waist.
We need to cut out the cancer.

#125 Shawn Allen on 09.09.21 at 11:13 am

How to Pay for the National Debt?

#118 Jesse on 09.09.21 at 9:38 am
After COVID, Canada has the worst debt levels of any industrialized nation. How does Canada plan to pay for all this debt?
*****************************
Plan? Plan? lol.

There is no real plan except to borrow new money to pay off old debt each time a bond matures. And on top of that to continuing borrowing new money to pay off the interest every month or six months it comes due. THAT is precisely what is happening today.

Taxes pay less than expenditures and therefore contribute zero to even paying any interest on the debt.

As long as lenders cooperate and lend at rates lower than inflation then grab another beverage or toke and party on. So far, so good.

#126 Planetgoofy on 09.09.21 at 11:27 am

#119 Dharma Bum on 09.09.21 at 9:45 am
Dolce de Lecher

“Good on the Libs if they do this. No more free rides.”
————————————————————————————
Are you serious?

C’mon!
_xxxxxxxxxxxx
Ya T2 has a nasty habit of doing nothing of what hes says he will do.
I find it hilarious that people still belive ANYTHING the Libs spew out.
“Fool me once shame you, fool me twice…..”

They manage to make ignorate Canadians feel guilty about how damaging we are to the earth, implementing major carbon taxes causing everything to go up in price. While the truth is we are a fraction of 1% of the problem.
Head to Asia and the sorts.
Hes says in his stupids ads ” lets keep moving forward Kanada” lol we have been in reverse for 6 long years.
Just head to the resource sector for one.
Suckers

#127 Planetgoofy on 09.09.21 at 11:38 am

I add to how ignorate T2 is.
When you have trouble in paradise or at home. You focus all your resources in getting you own house in order.
Not panderung to the UN, China, handing out untold amounts of money to every global boo hoo cause. Bringing in millions of refugees.
Really?
He thinks of us as a bottomless pit of money.
There are issues and people right here at home in dire needs.
Drugs
Housing
Retirees that cant afford to live
Businesses on the verg of going broke.
And on…
A first class fool self-serving #########
Have a good day im out here.

#128 Don Guillermo on 09.09.21 at 11:43 am

#115 James on 09.09.21 at 9:12 am
Perhaps the most heated exchange of the entire debate was when Yves-François Blanchet asked why Liberal Leader Justin Trudeau won’t impose positions on Indigenous peoples but will do the same for Quebecers.

Trudeau quickly exploded at the Bloc Quebecois leader, his face turning red.

“Because I am a Quebecer,” Trudeau said, his voice rising. “You keep forgetting: I’m a Quebecer, I’m a proud Quebecer, I’ve always been a Quebecer, I’ll always be a Quebecer.

“You do not have a monopoly over Quebec … You take the Quebec government’s record as if it’s your own,” Trudeau continued. “You have no right to consider me not a Quebecer.”
From last nights debate.
__________________________________________
Classic Trudeau trying to be everything to everyone. The truth is he was born in Ottawa and has lived in Ontario, Quebec and British Columbia. He may represent the riding of Papineau but a Quebecer? Not in my books. A wannabe yes!
*****************************************
JT is definitely a Quebecer.

https://www.youtube.com/watch?v=oA1yCIHMJwY

#129 Suspicious on 09.09.21 at 11:45 am

#121 Oakville Rocks!

You believe any data out of China?

#130 Planetgoofy on 09.09.21 at 11:49 am

One last link for the folks that don’t believe in the great reset…..
Garth I think your one? Turner Nations right.
Good luck trying to go to your sunny VAC in the future.
I believe they will make it so you cant afford it.

https://financialpost.com/opinion/terence-corcoran-get-ready-for-climate-21-fossil-fuels-virus-lockdowns

#131 Don Guillermo on 09.09.21 at 12:13 pm

#124 KLNR on 09.09.21 at 11:03 am
Pierre Poillievre is always good for a laugh.
***************************************
I agree, this is one of his funniest moments.

“Will the financial genius please stand up …”

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

#132 Stay gone on 09.09.21 at 12:20 pm

#111 Long-Time Lurker on 09.09.21 at 1:54 am
>For the record. This sounds like a case of Covid “Vaccine” Anti-Body Dependent Enhancement / Pathogenic Priming. This is my only warning Canada et al. I won’t be back here again.

……

Nonsense. You’re assuming he had covid in the first place. Sepsis could cause those symptoms as well.

#133 Klingon Rock on 09.09.21 at 12:27 pm

https://www.bloomberg.com/news/articles/2021-09-08/johnson-wins-health-care-vote-to-push-u-k-taxes-to-highest-ever

Trudeau has been pushing for higher taxes. Give him an inch….and we’ll be housing Liberal votes in our spare bedrooms.

#134 TurnerNation on 09.09.21 at 12:33 pm

Comrade did you flip a home? That will reduce your Social Credit Score.
Once again every human must be put into the Blockchain – by 2030.

This is why we see the DAILY changes, the new laws and IDs, Non stop isn’t it? So as not to scare us.
Almost back to normal guys!!

https://toronto.ctvnews.ca/mobile/ontario-prepares-to-launch-digital-id-program-and-here-s-how-it-works-1.5577757

#135 crowdedelevatorfartz on 09.09.21 at 12:39 pm

@#118 Jesse
“How does Canada plan to pay for all this debt?”

+++

“The budget will balance itself” , Justin Trudeau 2015 election

#136 Penny Henny on 09.09.21 at 1:02 pm

#135 TurnerNation on 09.09.21 at 12:33 pm
Comrade did you flip a home? That will reduce your Social Credit Score.
Once again every human must be put into the Blockchain – by 2030.

This is why we see the DAILY changes, the new laws and IDs, Non stop isn’t it? So as not to scare us.
Almost back to normal guys!!

https://toronto.ctvnews.ca/mobile/ontario-prepares-to-launch-digital-id-program-and-here-s-how-it-works-1.5577757
//////////////////

Scary

#137 Don Guillermo on 09.09.21 at 1:13 pm

#136 crowdedelevatorfartz on 09.09.21 at 12:39 pm
@#118 Jesse
“How does Canada plan to pay for all this debt?”

+++

“The budget will balance itself” , Justin Trudeau 2015 election
********************************
“You’ll forgive me if I don’t think about monetary policy,” – Justin Trudeau 2021 election

#138 Quintilian on 09.09.21 at 1:30 pm

#136 crowdedelevatorfartz Stuck in the 70’s:

There is absolutely any need to balance the budget.
Keynesian and Monetarist Theory confirms this.

#139 Quintilian on 09.09.21 at 1:31 pm

* absolutely NO need

#140 Shawn Allen on 09.09.21 at 1:32 pm

Dihonest or just diengenuous?

#136 crowdedelevatorfartz on 09.09.21 at 12:39 pm
@#118 Jesse
“How does Canada plan to pay for all this debt?”

+++

“The budget will balance itself” , Justin Trudeau 2015 election

*************************************
That’s a misleading quote because it was part of a longer sentence about the budget balancing if the economy grew fast enough. You know this, right and are trying to mislead?

“the commitment needs to be a commitment to grow the economy and the budget will balance itself.”

I’m not a Trudeau fan but fair is fair. Misleading is not fair. Sentence fragment quoting is unfair. Beneath you?

#141 Phylis on 09.09.21 at 1:37 pm

CEF, you asked about polling. Fwiw, I’ve had two robo calls to the landline so far from ‘canada perspectives’ or was it ‘canadian perspectives’. Asked -who to you plan to vote for, who did you vote for last time, age and gender.

#142 Steven Rowlandson on 09.09.21 at 2:30 pm

If a principle residence is merely a place to live then dropping the price to a dollar should cause no one except the tax man any distress what so ever.