Aftermath

An election about nothing. What does it mean for investors in financial portfolios and real estate now that we have Socks3 supported by Mr. TikTok? Here are a few things to consider:

A bank tax
The Trudeau plan calls for more than $4 billion to be sucked out of bank profits with a corporate surcharge amounting to a 30%+ increase over current levels. It’s a shocking, negative, myopic tax because banks are among the most stable institutions in Canada, with tentacles everywhere. They’re harbingers of the economy, funders of small and large business, superb risk managers and provide seamless, efficient service to almost the entire population. Yeah, they make money. Gobs of it. This does not mean the government has a right to steal more.

The bank tax could come right out of dividends paid to shareholders, which include millions of people with RRSPs containing not only bank stocks but mutual funds and ETFs. The banks make up about a third of the TSX and therefore every security reflecting that index. This is a tax on retirement nest eggs at a time when most people don’t have enough saved. My suspender-snapping portfolio manager buddy Ryan said as much on BNN (which you should never watch).

A hit on REITs
The little brains in Ottawa have fallen for the meme that real estate investment trusts hoover up houses, punting moisters and renters to the curb, then rent them out with coal-black hearts. In the election Trudeau said: “We will undertake a review of the tax treatment of large corporate owners of residential properties such as Real Estate Investment Trusts (REITs) who are increasingly trying to amass large portfolios of Canadian rental housing, putting upward pressure on rents. We will put in place policies to curb excessive profits in this area, while protecting small independent landlords, and more broadly, we will review the downpayment requirements for investment properties. Homes should be to live in, not a financial asset for investment funds to speculate on.”

But major REITs don’t buy up single homes in Canada. They do not compete with ‘small landlords.’ It’s a lie. Meanwhile apartment REITs make thousands of professionally-run units available to a few million tenants. This policy plank is cringe-worthy.

Personal tax load
With Jag in the co-pilot’s seat and T2 not daring to call another early election – now dependent on NDP support – expect personal tax increases if you happen to be rich. By the way, ‘rich’ means an annual income of $300,000 or more, or investment assets in your portfolio which have earned capital gains. Such folks should plan on a new tax bracket being created and an increase in the capital gains inclusion rate. Those items are not in the platform but are likely in the economic statement slated for November, or the March budget.

More housing demand
Creation of the First Home Savings Account is a milestone. It’s Canada’s first ageist tax shelter, available only to those under 40. Never before have people been able to shelter up to $40,000, write the entire amount off their taxable income, collect the refund for doing so, then invest it all without paying tax in residential real estate the profits on which will be tax-free. It’s a massive gift to first-time buyers, effectively subsidizing downpayments with taxpayer dollars. Anyone who does not sign up (or any parent able to fund this yet refusing) is not paying attention.

As such, this could significantly increase available deposits, allow more young adults to buy and borrow, augment demand and jack prices as a result. Combined with the ability to use tax-free RRSP money and the Liberal pledge to issue tax credits to cover most closing costs, the election stands to make real estate considerably stupider than it was.

And it does not end there.
The Liberal plan is to run a deficit of $150 billion next year and there’s no commitment to bring the budget into balance. The Liberal plan details 102 new program spending initiatives adding $78 billion over the next five years. Revenue increases are pegged at $25 billion, about half of that coming from the banks. There is no provision in the budget for higher interest charges on $1.3 trillion in debt, which are a certainty by 2025. Deficits are now structural while routine spending (like $30 billion for subsidized child care) will never be rolled back. Meanwhile 40% of Canadian families pay no net income tax. How is this even remotely sustainable?

Meanwhile the crazed People’s Party polled 5% of the vote and a CBC analysis indicates this may have kept 24 ridings from going Conservative. So Trudeau won, and not a single PPC candidate was selected. Even Max failed – because the people where he lives know him best.

Hmm. Maybe this wasn’t an election about nothing, after all.

About the picture: “No doubt it was an exciting night for you with the election,” writes Ian. “Long time blog reader. With the election I got to thinking “Jasper”, our family Golden Retriever, loves to walk and run around Ottawa.  So with that here is a photo taken on one of our walks around Parliament Hill. A typical cold, crisp winter evening – the kind that has downtown Ottawa quiet, but otherwise peaceful and calm. We’ll get back there soon. “

222 comments ↓

#1 Don Guillermo on 09.21.21 at 2:08 pm

Dilbert’s Wally decides to become a socialist and move to Canada.

https://dilbert.com/strip/2021-09-20

#2 Mark on 09.21.21 at 2:12 pm

Incredible. If there was ever a time to be ashamed of being a Canadian, well…

#3 In Dog We Trust on 09.21.21 at 2:16 pm

About 100 years ago they began the Free Trade agreements and we was all sold the lie of how it benefits the working class… Instead all jobs moved south… then they sold the NAFTA and the jobs that went south, went even further south to Mexico and of course to China,,, Sucker Working Class… Now the working class are able to take hold of a 2nd house and rebuild some of the loss,,, what is so wrong with that..??

#4 Dave on 09.21.21 at 2:18 pm

While the banks are great investments due to their oligopoly, they have been screwing customers with outrageous fees for years. It’s time to return some of this money for Canadians.

#5 Sunburned canuck on 09.21.21 at 2:20 pm

A day for celebration!
Congratulations to Mr Trudeau who came out victorious last night.
Truly a great moment for our proud Canadian democracy. It reveals that despite stark divisions, true leadership principles prevailed and was rewarded with millions of Canadian votes. He accomplished the remarkable 3rd segment of his Prime minister stewardship thereby cementing his mandate.
Clearly Canadians like the way the country is heading and want more of it.
Well done Justin! I would even suggest a national holiday in his honor, it would symbolize a day we can all be proud of.. “Trudeau Day”!

#6 Prince Polo on 09.21.21 at 2:21 pm

What is really stopping our dear Photo-op Minister from calling another election before 2025? His past transgressions show that he’s not the best at keeping promises or even behaving ethically. Besides, what’s another $610M out the door when it’s not your own money?

#7 Tim on 09.21.21 at 2:22 pm

REITs have messed up the rental market, many have been evicted and they continue to squeeze tennants. The financialization of housing has cost Canadians dearly. I hope REITs get taxed heavily.

#8 TurnerNation on 09.21.21 at 2:23 pm

A weekly reminder – never watch BNN? lol.
———
A useless election/$600 million spent/”But the hospital capacity”?? Was it?
This is set to run many years. Our Red Reset Colour Revolution Comrades.


— Months ago I opined, and posted, that Ontario will remain locked down until this is released.
Already we are almost into 2022. Everything else is just a cover for this:

.Ontario prepares to launch digital ID program and here’s how it works (toronto.ctvnews.ca)


– So what comes afterwards? Locked down, travel-restricted UN Smart Cities (what do you think the passports are for?), which will be flooded with stacked tiny housing and people. Happening now in Kanada.
Something like this. Hint: ‘Equitable’ means that you will own nothing and be happy.
Equitable for our global overlords.

City of Telosa
Creating a more equitable and sustainable future.
http://www.cityoftelosa.com

….
https://www.technocracy.news/technocrats-are-preparing-mandatory-personal-carbon-allowances/
“Technocrats Are Preparing ‘Mandatory’ Personal Carbon Allowances”

#9 Cheese on 09.21.21 at 2:24 pm

Game over, I don’t want to live on this planet anymore.

#10 S.Bby on 09.21.21 at 2:24 pm

#4 Dave

Agreed. Same with mobile phone providers, gas prices etc. we get it from every angle here in Canada.

#11 Julio on 09.21.21 at 2:26 pm

You think house prices in Canada are unaffordable now? Wait a little. Housing prices to the moon! Everybody will be a millionaire. Except the renters. Keep telling yourself “it’s nothing wromg to be a renter”.

#12 ValleyBoy on 09.21.21 at 2:26 pm

The government deficit is out prosperity. So if they don’t create we fight for less. So why is everyone attacking the deficit. Governments are not a household. Repeat: governments are not a household. If we don’t create and allocate government spending we get less programs, less infrastructure. We just have to balance the resources, and labour our country has with the spending so we don’t cause to much inflation. So this B.S. about Goverment debt needs to stop!! The debate is where and who gets the money.

#13 Shaggy on 09.21.21 at 2:28 pm

Good post, Garth – I cringed reading it, and not much does that anymore these days.

I can’t tell you how frustrated last night made me. Watching the PPC divide support and allow Liberal candidates to hold on for dear life and seeing a Canada map coloured in all different colours…except for the GTA, which was a sea of red. Even good ole creepy Kevin Vuong, who was charged with feeling up a date that happened to fall asleep on him was voted in by the good folks in his Spadina/Fort York riding because he was still flying the Liberal banner on the voting card.

All I can do is shake my head and thank my stars that I’m only 6 years from an early retirement.

#14 Don Guillermo on 09.21.21 at 2:31 pm

#5 Sunburned canuck on 09.21.21 at 2:20 pm
A day for celebration!
Congratulations to Mr Trudeau who came out victorious last night.
Truly a great moment for our proud Canadian democracy. It reveals that despite stark divisions, true leadership principles prevailed and was rewarded with millions of Canadian votes. He accomplished the remarkable 3rd segment of his Prime minister stewardship thereby cementing his mandate.
Clearly Canadians like the way the country is heading and want more of it.
Well done Justin! I would even suggest a national holiday in his honor, it would symbolize a day we can all be proud of.. “Trudeau Day”!
***********************************

Blinky, is that you? You should have worn a hat!

#15 QuebAnglo on 09.21.21 at 2:32 pm

Shameless pandering to Quebec nationalists yielded nothing for Libs/Cons/NDP. O’Toole was even prepared to abrogate federal sovereignty over tax collection in Quebec for a few seats. Shameless.

#16 My Body My Choice on 09.21.21 at 2:32 pm

2021 Election Result: a stalemate

None of the leaders or parties got what they wanted.

The only positive thing for me was JT didn’t get a majority. Conservatives won the popular vote just like 2019, but don’t have power because of the way seats are granted. PPC with 5% would have about 17 seats, instead they have zero.

According to JT: “2015 will be the last first-past-the-post election.”

So on Sept. 21, 2021, according to JT’s promise, the Conservatives won and the PPC should get 17 seats. But JT lied and we are denied.

Annamie will probably step down any minute. O’Toole will probably face a leadership review. Singh, will become Canada’s de-facto deputy prime minister. Max Bernier will be takin’ it to the streets.

As the Libs continue to print, borrow and spend, prepare for debt crisis, 5%+ inflation, perhaps even much higher. The lower and middle class will bear the brunt of ever-increasing costs and taxes for everything. More lockdowns, 3 and 4th jabs, more division.

Flags torn down or at half-mast across Canada: a nation mourning its own self-destruction? a conquered nation? post-national UN/Globalist dystopia?

Prepare for the worst.

I think our only hope is if we can convince Mel Gibson to run for the Conservative Party. Who else can save us? Scheer? McKay? Harper? Turner? Who?

#17 T on 09.21.21 at 2:34 pm

A tax on banks – taking from the ‘rich’ dividend recipients and reallocating to public debt and services.

Higher taxes on those making over $300k – same story as the bank tax.

PPC – hopefully about to go away. Far, far away. This ‘party’ stands for everything negative in today’s society under the guise of freedom. Sad. And at the cost of conservative votes and representation.

Vaccine mandates – about to come for all across the country. Like it or not, this was a significant agenda item in this election.

Protestors – about to be told to grow up and rejoin the rest of society so we can collectively move forward in a way which is safe for everyone. Failing to do so will have consequences for them. They aren’t freedom fighters like they believe, they are rebels for no good reason other than ignorance and selfishness.

Positives and negatives are coming from the result of this election. To say it way about nothing, however, is disingenuous. Not worth $600m, but $600m isn’t what it used to be.

#18 S.Bby on 09.21.21 at 2:41 pm

#9 Cheese

It’s not that bad. We could be living in Afghanistan.

#19 Darren on 09.21.21 at 2:43 pm

#5 Barf

#20 Dragonfly 58 on 09.21.21 at 2:45 pm

Well… as someone who never quite cracked $100,000 / year, $300,000/ year does seem pretty much the definition of rich. So hard to feel too sorry for an extra bump up of tax at this sort of income.
Post retirement I am trying to struggle along at a little under 50 G’s, not easy in the Lower Mainland. So yes , 6 times just getting by seems pretty dammed well off.
Bigger problem to me is Canada’s broken election system. Larger popular vote to the Con’s yet a much smaller share of MP’s elected. One man one vote ? Seemingly not in Canada anytime soon.
I can see something like a 5% discrepancy due to the nature of the system, but yesterdays result is way out from of what I would consider acceptable.

#21 crowdedelevatorfartz on 09.21.21 at 2:47 pm

It was a Full Moon last night.

The lunatics are now in charge of the asylum

#22 Faron on 09.21.21 at 2:49 pm

#9 Cheese on 09.21.21 at 2:24 pm
Game over, I don’t want to live on this planet anymore

Cheese, if you are contemplating suicide, can you please talk to someone? Call a suicide hotline? Take care bud.

#23 crowdedelevatorfartz on 09.21.21 at 2:50 pm

@#226 Faron
“Get over it. Your guy lost. You will be fine. I’d wager you will be dragged, whining, into an improved nation.”

+++

Errr with the inevitable tax increases…..”impoverished nation” would be more appropriate.

#24 Love_The_Cottage on 09.21.21 at 2:52 pm

#16 My Body My Choice on 09.21.21 at 2:32 pm
The only positive thing for me was JT didn’t get a majority.
_________
Singh has been bragging that he got the CERB doubled from what the Liberal’s wanted. The deficit would have been lower with a Liberal majority vs. what we got but the blind hatred of T2 prevents people from seeing that.

#25 Woke up this morning... on 09.21.21 at 2:55 pm

JT: “I’m going to spend $100B on this.”
JS: “Only if I can spend a $100B on this!”
JT: “Fine, but then I’m spending $100B on that.”
JS: “If you must, you must.”
JT: “Hey, you want to tax someone?”
JS: “Sure! Just not FaceBook because they’ll block my account.”
JT: “Yeah, I don’t want that either.”
JS: “I bet you can’t say ‘Environment’ in a single 5min presser more than 12 times.”
JT: “Watch me!”

#26 Cowtown Cowboy on 09.21.21 at 2:57 pm

Not that there was ever much doubt, but it’s been confirmed that Ontario is home to the dumbest bastards on the planet.

#27 Woke up this morning... on 09.21.21 at 2:57 pm

#9 Cheese

Game over, I don’t want to live on this planet anymore.

—-

Go live on the moon. It looks like cheese. You’re made for each other.

Oh yeah…send us a selfie with the flag so we know they went for real.

#28 Trojan House on 09.21.21 at 2:58 pm

#12 ValleyBoy on 09.21.21 at 2:26 pm

Every nation in history has collapsed for one reason and one reason only – too much government debt. To say that it’s different this time is putting your head in the sand.

#17 T on 09.21.21 at 2:34 pm

JT has done more to divide this nation in the last few years and especially over the last year and a half. Hopefully the PPC continues to grow and becomes the party on the right, which we truly don’t have at the moment.

I said it before and I’ll say it again – Justin Trudeau is not my prime minister.

#29 Quintilian on 09.21.21 at 2:58 pm

“As such, this could significantly increase available deposits, allow more young adults to buy and borrow, augment demand and jack prices as a result.”

Now I am incensed.

This could potentially be detrimental to the Conservative house owning landlords who need renters with incomes high enough to support rents needed to pay for the bubble priced asset.

And unfortunately, rents can’t be amortized.

Tick Tock, Tick Tock

#30 Former Navy Chief on 09.21.21 at 2:58 pm

What this last election has shown are the many disparities and the level of anger between the various regions of Canada.

The west is not happy with elections being decided by Québec and Ontario, and feel their voices are not heard.

Maybe the election reforms promised in 2015 will never come to fruition, so I think it’s high time to revisit the Elected, Effective and Equal (EEE) Senate.

There is a real need to temper the ambitions of the ruling party and the “Dear Leader”, and a productive “Chamber of Sober Thoughts” would accomplish this.

Oh, another thing: if asked to choose a EEE Senate, don’t ask through an omnibus referendum like last time in 1992! This issue is too important to be lumped in with a bunch of other issues!

#31 Phylis on 09.21.21 at 3:00 pm

Let’s do something easy like tax all government expenditures.

#32 My Body My Choice on 09.21.21 at 3:02 pm

#17 T

“This ‘party’ stands for everything negative in today’s society under the guise of freedom …
Vaccine mandates – about to come for all across the country. Like it or not …
Protestors – about to be told to grow up and rejoin the rest of society so we can collectively move forward in a way which is safe for everyone. Failing to do so will have consequences for them. They aren’t freedom fighters like they believe, they are rebels for no good reason other than ignorance and selfishness..”

_______________________________________________________

Sounds EXACTLY like an announer on the CCP news talking about the Tiananmen Square or Hong Kong protestors.

The key giveaway was the use of the word “collectively”.

#33 The West on 09.21.21 at 3:04 pm

Ya know – its funny to relate history to the modern day. In both Russia and China in the 20th century; their “People’s Revolutions” came from the urban centers while being vehemently opposed by the rural communities. When push came to shove and the entropy finally tipped on the ruling aristocracies – the mandate of the new rulers was to starve out the rural communities to keep the cities fed and stocked with consumables they couldn’t afford. Between Russia and China 95,000,000 (probably a conservative estimate) farmers and business class citizens were systemically killed by starvation and judicial oppression. Look at a map of where T2 has his support and then look at the rest of Canada.

I know, I know…that could NEVER happen here…..

#34 Jay (Not that one) on 09.21.21 at 3:04 pm

Seems like entitlement to point at people who specifically didn’t vote conservative and claim the conservatives were entitled to those votes.

Some people didn’t want the NDP in charge. Maybe next time the conservatives will provide a platform that caters to those people?

#35 millmech on 09.21.21 at 3:04 pm

#4 Dave\
Expect bank fees to rise by 4 billion.

#36 ElGatoNerodeYVR on 09.21.21 at 3:05 pm

Well ,let’s start by respecting the votes out there.Democracy has spoken.
Even though I supported my local Conservative candidate the truth is that it was incompetence at the higher levels of the party.
1) A deal should’ve been cut with the PPC to ensure opposing candidates are not run to prevent what happened.
2) so everyone whines about how bad it will be under the Liberal/NDP rule but the Conservative Party simply did not provide an actual alternative , I still am not sure what O’Toole would’ve done differently to raise revenues without cutting programs.
No clear policy, just vague promises while complaining about past spending that the country clearly agrees with …I am surprised they actually gained any seats outside of AB,SK and Interior BC.
Everyone seems to assume “The Coalition” is incompetent ,they are not ,they are simply at a significant crossroads and desperate times call for desperate measures.
Ofcourse their definition of “rich ” is everyone who makes over average income and has savings/investments; that is the way the reds started back then after WW2 ,but again ,where is the Conservative option . Cutting taxes has never worked out in the past and like it or not O&G is dead for the next decade until the lessons Germany learned the hard way are sadly replicated here as well.
Options please for restarting the economy and solving the housing problem .

#37 Old gringo on 09.21.21 at 3:07 pm

Well, with that bogus election behind us it’s proof “ they walk among us and even breed”.
Lord save us!

#38 S.Bby on 09.21.21 at 3:09 pm

#7 Tim

REITs have messed up the rental market but Airb&b has messed it up way worse. And many Airb&b hosts cheat on their taxes.

#39 David Prokop on 09.21.21 at 3:09 pm

$150B projected budget deficit means clearly that the interest rates cannot go up, the only way this debt can be monetized is by keeping rates near zero. BoC won’t do a thing no matter how high the inflation goes, say hello to another wave of house craziness

#40 BlogDog123 on 09.21.21 at 3:11 pm

Oh the humanity ! More of Mr. Peoplekind, the horror !

Can’t we have someone like Paul Martin lead the liberals?

Trudeau, now’s your time to resign, take Butts and Telford with you and let the grown ups run the country.

#41 Ed on 09.21.21 at 3:11 pm

Next time I won’t listen to others & just vote PPC , of course providing we will still have elections in the future.

#42 Nick on 09.21.21 at 3:12 pm

.
Buy a house in Lower Brainland with 90% borrowed money.

JT will make sure you get 100% or more return every 2 years.

#43 alexinvestor on 09.21.21 at 3:15 pm

Don’t you find it strange that banks make up 1/3 of the index ? Why should the services they provide suck up 1/3 of the profit, when in theory banks are just financial intermediaries. Somehow in the world of technological advancement and efficiency, their services are so valuable as to demand 1/3 of profit. Note this doesn’t happen in any other industrialized country … not US, not UK, not Japan, not Germany, etc. Canada is the true (and broken) outlier. Personally, I would open up the whole banking industry, but that’s not the way the Libs have chosen to play this.

#44 Grunt on 09.21.21 at 3:17 pm

I know 4 big countries give a hoot about our election. The US, UK, FR & AU are far more preoccupied with a soured nuclear sub deal. I believe Macron was supposed to be putting a flea in Bidens ear today. If his brain could grasp it. Other big players are focused on a Chinese real estate giant.

The rest of the world woke to Trudeau Canada. Nothing new.

#45 Jake on 09.21.21 at 3:19 pm

O’Toole sunk himself. You can’t expect voters not to notice his constant criticism of Trudeau by arguing he put Canadians at risk by calling an election during a pandemic, but then also applaud Jason Kenney for pulling back the reins on covid measures.

#46 Do we have all the facts on 09.21.21 at 3:20 pm

What I am having trouble comprehending is why citizens of Ontario continue to support the Federal Liberal party.

In 2016/17 the Government of Canada collected $143.6 billion in personal income taxes, an average of $3,975/
capita.

The Province of Ontario received $21.4 billion from the Government of Canada in total transfer payments, an average of $1530.00/capita in 2016/17.

In 2021/22 the Government of Canada will collect $180.4 billion in personal income taxes, an average of $4,735/
capita. Since Justin Trudeau began to run the show per capita revenues generated from personal income taxes have increased by 19.1%.

In 2021/22 the Province of Ontario is scheduled to receive $22.8 billion in transfer payments from the Government of Canada, an average of $1532/capita.

Per capita personal income tax revenues for the Government of Canada have increased by 19.1% while per capita transfers to the Province of Ontario to support social assistance and health care initiatives have remained unchanged.

Just as a matter of comparison per capital transfers to the Province of Quebec from the Government of Canada over the same period increased by 18.2%. Ontario was the only Province or Territory in Canada that did not receive a per capita increase in transfer payments from the Government of Canada over the past five years.

Can anyone explain how this discriminatory treatment by the Government of Canada at a time when the Province of Ontario is over $440 billion in debt and is struggling to keep their deficit for 2021/21 under $32 billion justifies continued support for the Liberal Party from citizens of Ontario.

One can only assume that the citizens of Ontario have little or no interest in how they are being treated by the Government of a Canada when compared to other jurisdictions.

An immediate change in the way transfer payments from the Government are being calculated is necessary before the Province of Ontario’s debt becomes a serious problem for 15 million Canadian citizens.

#47 Flop… on 09.21.21 at 3:22 pm

Yeah, but if we are truly to become a Postnational country, then the first thing we do is get rid of Federal Parliament and let the Province’s fend for themselves.

Justin’s been trying to talk himself out of a job but Canadians aren’t listening…

M47BC

#48 Faron on 09.21.21 at 3:24 pm

#42 Nick on 09.21.21 at 3:12 pm

.
Buy a house in Lower Brainland with 90% borrowed money.

JT will make sure you get 100% or more return every 2 years.

And if it doesn’t? If RE plops who will also get the blame? Riiiiight.

Maybe RE bubbles like this one are a bit less locally controlled than we’d like to think. Rates are low in developed markets around the world. Similar RE explosions have happened in numerous countries. Sure, there’s been some gasoline pouring, but the bulk of the rises have been low rates and migration and speculation which have occurred everywhere.

#49 Felix on 09.21.21 at 3:25 pm

The greatest fool is the Canadian voter.

#50 Felix on 09.21.21 at 3:25 pm

Yep, it sure was a dogawful day at Parliament Hill for your steerage section here, Mr. Turner.

Vote for cats, not dogs as pets, and everything would get better.

#51 Tripp on 09.21.21 at 3:32 pm

In Eastern Europe before 1989, we used to say that “nobody did anything until the fridges got empty”.

While this is not applicable ad-litteram in today’s Canada, the cost of living (including the two layers at the base of Maslow’s pyramid, physiological&safety needs) will have a profound impact on how we think, live, feel and vote in the not-so-distant future.

These two layers can’t be sustained by the government forever; quoting the Iron Lady, “the problem with socialism is that eventually it runs out of someone else’s money”.

#52 Drew on 09.21.21 at 3:32 pm

But Garth didn’t you hear. Only rich people are shareholders and rich people can afford to lose money or get taxed more because they’re rich and who gives a crap about them. /endsarcasm

Where does this 40% pay no tax come from?

#53 James on 09.21.21 at 3:32 pm

I can’t believe that our citizens voted this guy in again? I guess we all have short memories or really don’t care about racism.

https://nationalpost.com/news/first-photo-in-colour-of-trudeau-donning-blackface-emerges-on-eve-of-election-night

#54 T on 09.21.21 at 3:33 pm

#28 Trojan House on 09.21.21 at 2:58 pm

Depends on your perspective, but I personally don’t disagree.

#32 My Body My Choice on 09.21.21 at 3:02 pm

Your choice of name says everything about you; ignorant and selfish. Join the rest of us already and let’s move on with it, collectively.

#55 TurnerNation on 09.21.21 at 3:33 pm

Election distraction.
The future of this reset and A.I. based New System:

https://mtracey.substack.com/p/academia-is-establishing-a-permanent
“Academia Is Establishing A Permanent Surveillance Bureaucracy That Will Soon Govern The Rest Of The Country”


— Down-Under. Many say it’s the test zone. A health crisis so bad they are firing doctors and nurses! Almost back to normal guys.

https://www.msn.com/en-au/news/australia/central-tasmania-s-only-rural-gp-closing-over-vaccine-mandate/vi-AAOE7k2?ocid=msedgntp&pfr=1
The only general practice serving rural towns in central Tasmania will close next month because it says it will fall foul of a government mandate that all staff are vaccinated against COVID-19. It’s left locals confused and angry – many of whom will need to travel to receive medical treatment.

https://www.reuters.com/world/asia-pacific/new-zealand-increases-fines-covid-19-rule-breakers-2021-09-21/
“New Zealand increases fines for COVID-19 rule breakers”


— CV…was designed to re-shape the world.

.Vietnam’s Covid outbreak is pushing manufacturing back into China (qz.com)

#56 Planetgoofy on 09.21.21 at 3:34 pm

#19 Darren on 09.21.21 at 2:43 pm
#5 Barf
——————–
LOL BARF also….anyone that actually that happy about any politicians ESPECIALLY Socks, may have some issues.

Here’s where we are going, I didn’t write it an engineer buddy sent it. AND I’d put big money on it. Just talked to another friend say YUP…Its going to happen quick.
Fools don’t get it but we do. Once they take over everything and are broke. Just who going to fix your crap when it breaks? There tons of sign posts everywhere, people just don’t see it.

“Berlin’s bold proposal for surging rents: Evict the landlords – The Globe and Mail
https://www.theglobeandmail.com/business/article-berlins-bold-proposal-for-surging-rents-evict-the-landlords/#comments

Confiscation of private property. The shift to global reset and Communism continues.”

#57 IHCTD9 on 09.21.21 at 3:35 pm

By the time every prospective new home buyer has their FHSA filled up to 40K (plus gains) housing is going to jump like a flea on crack. If prices aren’t already out of reach for 90%+ of first time home buyers – they sure will be then. Whatever they can bring to the table will be matched into the price by sellers (and then some) in short order. Kids with parents who can gift them the cash will trigger this price escalation well before regular kids even have the 40K saved up. They’ll find themselves in the same boat as before when they hit the market. Again, only the wealthy win under Trudeau.

Trudeau is going to turn every single last home owning Gen-X/Mil into a millionaire well before retirement. All buyers will soon be unconventional – probably groups pooling their cash – all of them specuvestors.

I hope Trudeau can hold it together until it’s my turn to sell :).

#58 Louis on 09.21.21 at 3:35 pm

– Meanwhile the crazed People’s Party polled 5% of the vote and a CBC analysis indicates this may have kept 24 ridings from going Conservative.

So what’s the solution to heal the rift and make sure it doesn’t happen at the next election ? Hope that post covid the PPC lose steam and implode ?

What we need is Bloc-PPC-Conservative merge as the new ‘Provincial Power Party’ with a clear #1 agenda of limiting federal intervation provincial field and balancing the federal budget. It won’t happen but a guy can dream right.

#59 James on 09.21.21 at 3:36 pm

#6 Prince Polo on 09.21.21 at 2:21 pm

What is really stopping our dear Photo-op Minister from calling another election before 2025? His past transgressions show that he’s not the best at keeping promises or even behaving ethically. Besides, what’s another $610M out the door when it’s not your own money?
______________________________________
Only it will most likely be closer to one billion dollars next time.

#60 IHCTD9 on 09.21.21 at 3:39 pm

#52 Drew on 09.21.21 at 3:32 pm

Where does this 40% pay no tax come from?
____

From Trudeau, literally.

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

#61 mike from mtl on 09.21.21 at 3:40 pm

#30 Former Navy Chief on 09.21.21 at 2:58 pm

The west is not happy with elections being decided by Québec and Ontario, and feel their voices are not heard.
////////////////////////////////////////////////////////////

Hey even here I agree, in theory all the urban small ridings should make it possible for large population areas to break out of strangle of of the commons. Trouble is that’s what they actually want! Might as well have GTA, MTL metro, Vancouver metro as single ridings, groupthink is a hell of thing.

Indeed the idea of breaking up metro areas to try to lessen their sway over the sparsely populated is sound. However this is exactly the case in practice.

#62 KLNR on 09.21.21 at 3:43 pm

@#36 ElGatoNerodeYVR on 09.21.21 at 3:05 pm
Well ,let’s start by respecting the votes out there.Democracy has spoken.
Even though I supported my local Conservative candidate the truth is that it was incompetence at the higher levels of the party.
1) A deal should’ve been cut with the PPC to ensure opposing candidates are not run to prevent what happened.
2) so everyone whines about how bad it will be under the Liberal/NDP rule but the Conservative Party simply did not provide an actual alternative , I still am not sure what O’Toole would’ve done differently to raise revenues without cutting programs.
No clear policy, just vague promises while complaining about past spending that the country clearly agrees with …I am surprised they actually gained any seats outside of AB,SK and Interior BC.
Everyone seems to assume “The Coalition” is incompetent ,they are not ,they are simply at a significant crossroads and desperate times call for desperate measures.
Ofcourse their definition of “rich ” is everyone who makes over average income and has savings/investments; that is the way the reds started back then after WW2 ,but again ,where is the Conservative option . Cutting taxes has never worked out in the past and like it or not O&G is dead for the next decade until the lessons Germany learned the hard way are sadly replicated here as well.
Options please for restarting the economy and solving the housing problem .

unfortunately the cons maybe are too comfortable being the opposition. Just opposing, rarely proposing anything of merit.
I think it’ll be dark days for them when Leslyn Lewis becomes leader and the PPC bolster their fans.

#63 Proud CERBian on 09.21.21 at 3:44 pm

My nation has risen to the challenge!

All Hail, CERBia!

#64 millmech on 09.21.21 at 3:48 pm

I see the Liberal candidate for Vancouver Granville has already flipped his seat to the NDP candidate.

#65 When Will They Raise Rates? on 09.21.21 at 3:59 pm

#26 Cowtown Cowboy on 09.21.21 at 2:57 pm

Not that there was ever much doubt, but it’s been confirmed that Ontario is home to the dumbest bastards on the planet.

————-

Yup. Now the wife and I are planning our move to Alberta, just waiting for you fine folks to boot the jackass running your province.

#66 CJohnC on 09.21.21 at 4:00 pm

#12 ValleyBoy

Your not too bright are you. So far Trudeau has created nothing with the billions spent. Hand outs to the masses do not create an economy. It does get him re-elected though.

*********
It is finally appropriate that the peace tower flag is at half mast. As someone has already pointed out, Canada is in mourning for itself.

#67 Faron on 09.21.21 at 4:04 pm

#53 James on 09.21.21 at 3:32 pm

Or maybe voters already “priced in” Trudeau blackface and the latest drop from the same event rang more cynical and desperate than conservatives hoped?

#68 Dogman01 on 09.21.21 at 4:04 pm

“We interrupted our BBQ’s for this?” -Yves-François Blanchet’s election night quip

#69 The Woosh on 09.21.21 at 4:12 pm

This does not mean the government has a right to steal more.

———————————————

“Steal” You sure you’re using the right word there? My understanding is that the government can tax as they please. You also seem to imply that the government is already stealing. Why are you not up in arms, planning an insurrection, writing letters to MPs to denounce this illegal activity or calling on the RCMP to investigate?

#70 Richard L on 09.21.21 at 4:13 pm

Thanks for your insight Garth – your blog has just explained why we all should have voted for Max.

#71 Pylot Project on 09.21.21 at 4:18 pm

Best quote post-election came from Lisa Raitt. “Well, that was $600 million for a cabinet shuffle.”

Correct me if I’m wrong, but I seem to recall during the campaign that Trudeau threatened another election in 18 months if he didn’t get a majority. Should we pencil in March 30 2023?

#72 SCD on 09.21.21 at 4:19 pm

Although I voted Conservative I do feel that the chickens will come home to roost soon from the past 6 years of Liberal policies. If O’toole had won he might falsely be blamed when the stuff hits the fan. Trudeau is now stuck in a room with his own fart.

#73 Coastal gal on 09.21.21 at 4:19 pm

Conservatives need do up resources for school age kids and teachers, videos, material suitable for teens, and tik tok videos to describe what their values are and why it matters.

My kid, grade 7 learning about elections and political parties told me on ride to school today at the teacher described Conservative party as “all about money” “they take money from small businesses and give to big businesses ” Yikes!! Where did this come from? No unbiased description although teacher did say make up own mind. Not good for next generation of voters.

My kid voted conservative in class election as understands you can not keep spending more than you make.

#74 Linda on 09.21.21 at 4:20 pm

So helpful to be told what ‘rich’ looks like income wise. Bottom line however is there simply aren’t enough ‘rich’ to pay to piper for the tune. So I’m expecting taxes to rise exponentially – not just at the Federal level but at all levels of government. Everyone is looking for $ & there is only one place to get it.

As for bank taxes, that too will be borne by the customer. Expect increases fees for services across the board & yes, the investors who hold bank stocks may not receive the income they expect.

Regarding the endless largesse, the belief that all this can be had without the tab being picked up by the taxpayer is a pipe dream.

#75 Billy Buoy on 09.21.21 at 4:21 pm

I have tears wondering how the banks are going to ever make it now…

Maybe if the rat bastards didn’t “fee” everyone to death, they would have a few people on their side.

Say goodbye to the nice lady at the bank and more fees to pay for Justy’s newest adventures. No doubt the tax will be passed on to US. Times 10.

#76 Shaggy on 09.21.21 at 4:25 pm

@ #28 Dragonfly

Well… as someone who never quite cracked $100,000 / year, $300,000/ year does seem pretty much the definition of rich. So hard to feel too sorry for an extra bump up of tax at this sort of income.
Post retirement I am trying to struggle along at a little under 50 G’s, not easy in the Lower Mainland. So yes , 6 times just getting by seems pretty dammed well off.

—————————————————————–

I don’t think the question is should the rich pay more, it’s a question of how much. The Liberals have already introduced a new income tax bracket (starting at $216k in 2021) which has people paying 53 or 54% tax on any incomes in excess of that figure. As a result, our wealthiest citizens have been fleeing the country. See that’s the thing, it’s been proven that there’s a psychological barrier to taxing someone more than 50%. If people don’t take home at least half of what they make, they find other things to do or other more tax friendly places to work in. Combine that with the 1%ers being the most mobile capital base, and it doesn’t work. That’s why Trudeau’s “revenue neutral” attempt at taxing the rich to fund a $500 tax break for the middle class backfired and wasn’t cost neutral at all. All another high earner tax bracket will do is cause more of a flight from Canada.

Same with the corporate tax rate by the way; if it gets too high, companies fold tent and set up in more business friendly geographies.

These are basic principles which the Liberals and NDP just don’t get.

#77 Guelph Guru on 09.21.21 at 4:25 pm

600Mil. Canadian population is 39mil.

So did I as a taxpayer, spend 15mil CAD on these clowns?

Wish Mr. T2 had just deposited 15mil in my bank acct :)

#78 Dolce Vita on 09.21.21 at 4:29 pm

Not a clue here about how Cdns vote. Figured a Con majority…not a chance.

No more prognostications on that topic from me.

————-

Garth, #13 Shaggy

Add me to the list of “cringed”.

Will wait for the Nov. budget warning and if capital gains are to be mucked about with, then I slowly will move investments out of Canada that is not TFSA into it’s Italian PIR equivalent.

I cannot believe that the younger generations believe this all ends well, high debt, few paying net taxes, BoC being the defacto money mill for Gov Canada, etc.

More money will go to interest payments than programs. Resulting in program spending.

Not going to me financing the life the younger generations believe they so richly deserve under Trudeau but cannot afford.

No a snowballs hope in Hades.

#79 HonestEnD on 09.21.21 at 4:31 pm

If we have REITs in our portfolio should we consider dumping some of them knowing they are now public enemy #1?

Of course not. – Garth

#80 ogdoad on 09.21.21 at 4:31 pm

Joke…read some international headlines. Useless joke that made us/HIM look a little bit more laughable than before…chicks don’t dig a person striving for popularity, Justin…I’ll tell you how to do it though, for a price.

And for what? From what I’ve witnessed prob. 1 or 2 more scandals and hmmm…how many broken, useless promises?

I will celebrate with weed (three within walking distance), beer (two), liquor (one) and perhaps a pretty pair of Canada socks…won’t they be cute?

Og

#81 yvr_lurker on 09.21.21 at 4:32 pm

Some items on your list are even problematic to some left of center people. However, the plan to hit REITs and monitor carefully (and tax accordingly) large financial concerns buying up hordes of properties for speculation or otherwise is completely well-founded. Secondly, taxing or prohibiting foreign buyers from residential real estate everywhere in Canada should be a permanent item on the books.

There are no “financial concerns buying up hordes of properties for speculation” in Canada to my knowledge. Enlighten us. – Garth

#82 tired of politicians, current, past and future on 09.21.21 at 4:37 pm

What an outstanding post election press conference by leader O’Toole. He took many many questions from the press and being the consummate politician that he is he regurgitated the same answer to all of them. He’s convinced that he’s the right fellow to lead the progressive conservatives into the next election. Go Erin Go.

#83 SoggyShorts on 09.21.21 at 4:38 pm

#10 S.Bby on 09.21.21 at 2:24 pm
#4 Dave

Agreed. Same with mobile phone providers, gas prices etc. we get it from every angle here in Canada.

***********************
In my research for moving to Mexico I found out that you can get a 3GB plan with unlimited talk&text in Can/USA/MEX with unlimited free roaming. For under $15/mo.

This means you can take the sim card that you buy in Mexico (or online) and still use it in Canada when you come back (or if you never even left)

#84 KLNR on 09.21.21 at 4:43 pm

@#64 Billy Buoy on 09.21.21 at 4:21 pm
I have tears wondering how the banks are going to ever make it now…

Maybe if the rat bastards didn’t “fee” everyone to death, they would have a few people on their side.

Say goodbye to the nice lady at the bank and more fees to pay for Justy’s newest adventures. No doubt the tax will be passed on to US. Times 10.

definitely a lot of salty tears in here tonight.

#85 Habitt on 09.21.21 at 4:43 pm

26 cowtown cowboy. To paraphrase Jacques Parizeau “it was the immigrant vote”. Lol

#86 Prince Polo on 09.21.21 at 4:44 pm

#43 alexinvestor on 09.21.21 at 3:15 pm
Don’t you find it strange that banks make up 1/3 of the index ? Why should the services they provide suck up 1/3 of the profit, when in theory banks are just financial intermediaries. Somehow in the world of technological advancement and efficiency, their services are so valuable as to demand 1/3 of profit. Note this doesn’t happen in any other industrialized country … not US, not UK, not Japan, not Germany, etc. Canada is the true (and broken) outlier. Personally, I would open up the whole banking industry, but that’s not the way the Libs have chosen to play this.

I find it strange that Canadians, on average, are more risk-averse, that they won’t invest in other sectors to grow the economic pie. Of course, it kinda helps that Cdn banks are an oligopoly. When may I convert my $40K housing TFSA to the RRSP format and invest in the S&P500? Ironic that I won’t help grow the TSX.

#87 PBrasseur on 09.21.21 at 4:44 pm

Canadian banks are a poorly productive government protected cartel, tax them they won’t be going anywhere. So no big damage from that.

Taxing investment on the other hand is quite a different story, could severely hurt an economy built like a house of card, not going to happen, Garth has been wrong on this for years and nothing as changed.

Taxing high income more could be hurtful and encourage talent drain already in progress.

#88 Jake on 09.21.21 at 4:47 pm

Tripp, the only thing that would destroy liberals massive spending, tax and debt plan is a big jack up in interest rates. This is what happened before the father of Canadian socialism, Liberalism made Canada see 22%+ mortgage rates and high 18%+ inflation.

We need that again but fast and make millions realize you can’t spend, tax, incur debt indefinitely and think you will grow your way to prosperity. We need to see right now minimum variable to fixed 8.00% to 9.00% mortgage rates to start and 12% mortgage rates by 2022. This is the only way.

The whole central banks and governments coordinated, working together to keep low to lower interest rates and cheap, easy lending is the cancer of society which grows debt, taxes, inflation, longer term unemployment, government tyranny, poverty.

#89 unbalanced on 09.21.21 at 4:48 pm

A lot of people bitched and complain about this election. Can’t you realize no one won. Bunch of poor losers. NDP and PC are both losers in themselves.

#90 I'm not a doc on 09.21.21 at 4:50 pm

If hospitals are splitting at the seams do to covid perhaps that 600 mil would have been better spent. Maybe divy it amongst the so called hot-spots better equipping the ICU’s and hiring more staff? Oh wait we have the mobile tents we can unfold and equip. I wonder how much that cost us? My daughter just started her nursing career and they used one of these mobile tent hospitals for orienteering other it was empty… completely empty in a covid hotspot none the less…

#91 sean on 09.21.21 at 4:50 pm

#26 Cowtown Cowboy on 09.21.21 at 2:57 pm

Not that there was ever much doubt, but it’s been confirmed that Ontario is home to the dumbest bastards on the planet.

————-

Despite being an Ontario resident, I’m afraid I have to agree with this sentiment :-(

#92 CL on 09.21.21 at 4:51 pm

Singh doesn’t necessarily have Trudeau over a barrel right now. If I were Trudeau I would dare Singh to vote against what the Libs want. He won’t and can’t topple the gov’t. Nobody wants another election so quickly and I’d wonder how much money the NDP would have to do so.
So Trudeau I would think Trudeau will have some free reign for awhile.

#93 When Will They Raise Rates? on 09.21.21 at 4:51 pm

#69 SCD on 09.21.21 at 4:19 pm

Although I voted Conservative I do feel that the chickens will come home to roost soon from the past 6 years of Liberal policies. If O’toole had won he might falsely be blamed when the stuff hits the fan. Trudeau is now stuck in a room with his own fart

————–

True, and that is the silver lining… but how much additional damage will Trudeau do in the mean time? 4 years is a loooong time.

#94 yvr_lurker on 09.21.21 at 4:52 pm

#81
There are no “financial concerns buying up hordes of properties for speculation” in Canada to my knowledge. Enlighten us. – Garth

—————–
Perhaps you would then call the following article not relevant or interesting in their articulation of an increasingly problematic issue

https://policyoptions.irpp.org/magazines/june-2021/the-rise-of-financial-landlords-has-turned-rental-apartments-into-a-vehicle-for-profit/

Seems enlightening to me. However, clearly not written by friends from the Fraser Institute.

Sure. Your lefty article talks about REITs as owners of multi-unit buildings. Perfectly fine and they generally provide a great service to tenants, over greedy Mom & Pop landlords with dodgy premises and a penchant for tax evasion. There is no mention of buying for speculation or flipping scores of homes. Be careful what you fall for. – Garth

#95 conan on 09.21.21 at 4:52 pm

I doubt the Conservatives ever find the formula to get back into majority. Quebec is never going to Orange Wave again and they just hope that Canada forgives them for hoisting the Harper on everyone.

Now there is the PPC and they are not going away with 5 % support. They qualify for funding now. It is going to be Liberal majorities, or Liberal minorities supported by the NDP, for years and years.

#96 calgary rip off on 09.21.21 at 4:58 pm

The best part about the election was not participating. I live in Calgary Nosehill where Michelle Rempel the conservative incumbent is. When I drove past the polling station at 630 pm after my shift at the hospital I saw people going in. Looked like all conservatives who I find ignorant and disgusting. My wife asked me if I was voting when I walked in the house. Why bother I told her. The NDP guy who is more qualified than Remple wont get it. Most Calgary voters are uneducated even despite Jason Kenney’s current antics. The conservatives do nothing. No pipeline. No covid vaccine mandate. In my view anyone who voted for this party has zero clue. Instead conservatives are more interested in preserving their house values and not paying a PST. The sheer ignorance of Alberta is embarassing. And this is highlighted by the current ICU mess. Fortunately Pfizer just got approved for kids so the adults who forego the vaccine dont put kids at risk.

Currently it’s typical Alberta bs: Alcoholism and ignorance prevails in this province.

#97 OlderbutWiser on 09.21.21 at 5:02 pm

#74 Guelph Guru $600m dividend by 39m is just a bit more than $15.38 per person. It is not $15m per person.

Why is math so hard for some? Maybe this is why we have another Liberal government…..sigh….

#98 Yuus bin Haad on 09.21.21 at 5:02 pm

good thing the Orange and Green don’t split ridings

#99 Jake on 09.21.21 at 5:03 pm

#88 Jake on 09.21.21 at 4:47 pm

“We need to see right now minimum variable to fixed 8.00% to 9.00% mortgage rates to start and 12% mortgage rates by 2022”

———–

From the “first” Jake to another… a move like that would crater our economy instantly.

#100 zxcvbnm on 09.21.21 at 5:03 pm

I blame the PCs for splitting the PPC vote

#101 Joseph R. on 09.21.21 at 5:03 pm

Knives are out in the Canadian Progressive Party.

#102 Ralph on 09.21.21 at 5:06 pm

CL, the Bloc Quebecois has 29 or 32 seats, I don’t know the final results but there is only 13 needed to pass the 170 majority with liberals to get what they want.

So, technically, Trudeau does not need the NDP and could use the Bloc Quebecois instead.

#103 ProudCanadian on 09.21.21 at 5:10 pm

Canada tops the list folks. Be proud!

https://www.usnews.com/media/best-countries/overall-rankings-2021.pdf

#104 KLNR on 09.21.21 at 5:10 pm

@#95 conan on 09.21.21 at 4:52 pm
I doubt the Conservatives ever find the formula to get back into majority. Quebec is never going to Orange Wave again and they just hope that Canada forgives them for hoisting the Harper on everyone.

Now there is the PPC and they are not going away with 5 % support. They qualify for funding now. It is going to be Liberal majorities, or Liberal minorities supported by the NDP, for years and years.

if the PC’s couldn’t win with a united right vs a divided left fat chance they’ll do it now with the PPC gaining traction.

#105 Habitt on 09.21.21 at 5:10 pm

30 former navy chief Reformer Harper from the west was in power for ten years and could not muster the support required to change the senate powers. As it stands the Block holds more seats in Quebec than the liberals. Those 22 liberal seats in the west and the north also played a part. As did the maritimes. It appears that we can learn from la belle province. Masterful at the craft of politics.

#106 When Will They Raise Rates? on 09.21.21 at 5:12 pm

#82 tired of politicians, current, past and future on 09.21.21 at 4:37 pm

What an outstanding post election press conference by leader O’Toole. He took many many questions from the press and being the consummate politician that he is he regurgitated the same answer to all of them. He’s convinced that he’s the right fellow to lead the progressive conservatives into the next election. Go Erin Go

———–

Press: Mr O’Toole, how do you plan on balancing the budget without raising taxes while meeting carbon reduction targets? And what about reconciliation?

O’Toole: Why are we even having an election?

Press: Mr O’Toole, You plan on scrapping $10/day daycare, how will your plan provide daycare for poor families who can’t pay up-front?

O’Toole: *holds up McCleans platform magazine* I have a plan, but the real question is, why did Trudeau call a $600,000,000 election during a pandemic?

etc…

The Conservatives keep putting up robots for candidates, it’s a real shame… I can’t even blame people for breaking ranks and voting PPC.

I place the blame squarely on the Conservative party for giving us duds twice in a row. TWICE we should have beaten Trudeau.

Can we get a real leader next time? Maybe a Kevin Oleary or someone similar who actually has a pair. Gawd.

#107 Gary on 09.21.21 at 5:16 pm

You guys thought Harper, Flaherty was bad with the new tax on income trusts on October-31-2006.

At least he left REIT’s alone, intact. Watch how bad the Liberals are going to be with REIT’s. Good luck REIT unitholders.

#108 Pbrasseur on 09.21.21 at 5:23 pm

What didn’t you like, calling Canadian banks a cartel or pointing out that you have been wrong for years on saying the Liberals might tax investments more?

Either way it is rude to remove an opinion just because you don’t like it.

No idea what you are referencing, but your tone sucks. – Garth

#109 KLNR on 09.21.21 at 5:23 pm

@#94 yvr_lurker on 09.21.21 at 4:52 pm
#81
There are no “financial concerns buying up hordes of properties for speculation” in Canada to my knowledge. Enlighten us. – Garth

—————–
Perhaps you would then call the following article not relevant or interesting in their articulation of an increasingly problematic issue

https://policyoptions.irpp.org/magazines/june-2021/the-rise-of-financial-landlords-has-turned-rental-apartments-into-a-vehicle-for-profit/

Seems enlightening to me. However, clearly not written by friends from the Fraser Institute.

Sure. Your lefty article talks about REITs as owners of multi-unit buildings. Perfectly fine and they generally provide a great service to tenants, over greedy Mom & Pop landlords with dodgy premises and a penchant for tax evasion. There is no mention of buying for speculation or flipping scores of homes. Be careful what you fall for. – Garth

in Berlin they’re having a referendum on appropriating rental housing from large corporate landlords. looks like its going to happen to. interesting times. eat the rich indeed.

https://www.theglobeandmail.com/business/article-berlins-bold-proposal-for-surging-rents-evict-the-landlords/

#110 Doug t on 09.21.21 at 5:25 pm

I feel for young people in this country – BUT WAIT don’t worry The Great Reset is going to work out really well for you – you will own nothing and be happy – and with the continued march to displace you with AI, well you won’t be working either – might want to get a hobby BUT make sure it doesn’t impact your carbon footprint passport – LOL the futures so bright I gotta wear shades

#111 GST/HST hike to 15% on 09.21.21 at 5:27 pm

What about putting tax on all real estate like a GST/HST hike which increases real estate commissions, purchases, sales, lawyer fees, renovations, repairs, other closing costs like maybe appraisal fees, transfer fees etc.

A hike back to the 15% rate in the next 1 year or 18 months would have a big impact of thousands maybe tens of thousands in new sales taxes on most real estate transactions.

#112 Dionne on 09.21.21 at 5:33 pm

Since Trudeau Liberals owes us, Toronto that is. The new bank surtax, give something to chequeing accounts, savings accounts, GIC depositors etc. with an annual interest and deposit account bonus.

We could all use a $2,000 per household bonus in our bank accounts right now. Make it non taxable Trudeau, hook us up.

#113 IHCTD9 on 09.21.21 at 5:34 pm

#96 calgary rip off on 09.21.21 at 4:58 pm

When I drove past the polling station at 630 pm after my shift at the hospital I saw people going in. Looked like all conservatives who I find ignorant and disgusting. My wife asked me if I was voting when I walked in the house. Why bother I told her.
———

So you skipped voting because the folks walking in to vote “looked like conservatives”?

L to the M to the A to the O !!

#114 Faron on 09.21.21 at 5:36 pm

#78 Dolce Vita on 09.21.21 at 4:29 pm
et al.

“…capital gains …”

Can someone enlighten me as to why the cap gains inclusion rate should be anything less than 100%? Is the idea to encourage capitalization of equity markets? Are people confused by the 100% to think it means 100% tax rate? Seriously, I don’t get it. Why should cap gains be treated any differently than income? Not only is it income. It’s income that you did diddly squat to earn other than throw it into ZSP at a cost of $0.

The argument that investing in markets is “needed” is incredibly suspect when markets are already so highly capitalized as to be in a giant bubble. Furthermore, the “velocity” of money is at lows suggesting that money flooding into equities is doing no real work in the economy.

Seriously, someone please give me the good arguments for <100% inclusion without coming off as simply greedy. It's income. Get over it.

#115 Albertaguy in AB on 09.21.21 at 5:39 pm

What will it take to convince Pierre Poilievre to lead the conservatives?

https://www.youtube.com/watch?v=aLdFXEtCkA4

#116 2pac on 09.21.21 at 5:39 pm

Well, we live in a democracy and the people have voted. So, here we go. I’m not mad. I have my backup plan to leave Canada and so should everyone else. As it stands now, 18% of the country voted for the NDP, and 5% of the country voted for the PPC. That means that 23% of our country is full of nut jobs. You can’t fix a country where nearly 1/4 of it is full of people who are so far gone (in one direction or another) that they would vote for either of these parties. The end result? The conservatives got screwed by the PPC, and the Liberals got screwed by the NDP. So now, the party with the 4th highest amount of seats (a mere 24 seats) gets the dictate how society is run. Jagmeet has all the power now. He knows if another election is called it will likely hurt Justin Trudeau, because next time there won’t be a PPC to suck votes from the Cons. So Jagmeet will pull all the strings from behind and Trudeau is happy to oblige if it means he gets another 4 years to “cement his legacy” in Canadian politics. Like father like son. The stock market will probably crash too as everyone rushes to sell off their stocks and claim the reduced capital gains before they go up. Oh well, good luck everyone… it’s every man (or woman, or non-binary) for themselves now.

#117 CoB on 09.21.21 at 5:45 pm

Will the First Home Savings Account actually be able to legally discriminate based on age? As a 1981 baby partnered with another 1981.. we both turn 40 this year. Plan to be first time home owners in 2022…

#118 WELCOME AWESOME NEW LIBERAL GOVERNMENT ! on 09.21.21 at 5:47 pm

The first parliamentary order should be to declare Max Bernier a Saint and give him the Order of Canada!

Thank you Max, and all the misfits blowing up the other side.

This government will be virtual majority for as long as it wants to be, then a big majority after that. All while the CPC and PPC cannibalize each other to shreds.

#119 BillyBob on 09.21.21 at 5:47 pm

#83 SoggyShorts on 09.21.21 at 4:38 pm
#10 S.Bby on 09.21.21 at 2:24 pm
#4 Dave

Agreed. Same with mobile phone providers, gas prices etc. we get it from every angle here in Canada.
***********************
In my research for moving to Mexico I found out that you can get a 3GB plan with unlimited talk&text in Can/USA/MEX with unlimited free roaming. For under $15/mo.

This means you can take the sim card that you buy in Mexico (or online) and still use it in Canada when you come back (or if you never even left)

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

Maybe. Probably depends on how much you use it outside of Mexico. Most consumer providers will limit the use of their cards outside of the country of issue due to regulatory requirements. Otherwise every Canadian would use cheap US providers where roaming on a US plan in Canada is cheaper than a native Canadian provider. (I mean really, how pathetic is that?) Kind of like Netflix or satellite tv subs back in the day, sign up with a US address.

Problem with sim cards is they know exactly how long you’re spending somewhere. Had Canadian relatives hanging on to their US T-Mobile as long as they could when they repatriated but it was shut down with a letter stating that they were clearly no longer living in the US. Or at least their sim cards weren’t.

I got a buddy to add me to his US corporate account to get around that, not subject to the same limitations since it’s for “business”. About 24 USD/month for unlimited worldwide data. Good luck finding anything remotely approaching that from Telus/Bell/Rogers.

#120 Guelph Guru on 09.21.21 at 5:49 pm

#74 Guelph Guru $600m dividend by 39m is just a bit more than $15.38 per person. It is not $15m per person.

Why is math so hard for some? Maybe this is why we have another Liberal government…..sigh….

Apologies. My bad. Sorry for that.

#121 Ustabe on 09.21.21 at 5:51 pm

#100 zxcvbnm on 09.21.21 at 5:03 pm

I blame the PCs for splitting the PPC vote

#101 Joseph R. on 09.21.21 at 5:03 pm

Knives are out in the Canadian Progressive Party.

What are you two going on about? There is no Progressive Conservative Party by that or any other name in Canada for decades.

The current iteration is called the Conservative Party of Canada…not to be confused with Stephan Harper’s Conservative Party of Canada (he actually sent out a memo demanding that the party be branded that way!).

Everybody needs to calm down, for me I’m old school…a couple of Xanax washed down with a vodka and oj in the morning and I’m good to go.

#122 Baffled on 09.21.21 at 5:52 pm

We’d be better of with Prime Minister Jasper, I’m sure he would be smarter and more responsible.

A short recap of Trudeau’s speech last night. He started by repeating his oft used lie about having a mandate. Then segued to the lie about having your back. (My doctor promised the pain in my back would go away after the election. He said it was just a metaphorical knife) He lied about hearing the message that was sent. What he really meant was he heard what he damn well wanted to hear and some of the screeching from some of the tiny little but loud special interest groups that he agrees with.
In short he is the same liar that he was before he wasted 610 million dollars on an election no one wanted and everyone knew would result in virtually the same thing we had before he called it.

Also in Vaughn we had line ups to vote that would have made you think it was an Atalanta nieghbourhood where mostly black people live.

All in all a sad display and complete waste of money. Trudeau will make us, your children and grandchildren’s grandchildren pay for his stupidity.

Oh and the interviews they showed with the PPC supporters made clear that the Trump style stupidity is fully entrenched on this side of the border.

#123 Entrepreneur on 09.21.21 at 5:52 pm

T2 plan to get back to work is turning the crank on the printing machine, keep the house economy going to the moon.

Anyone notice the protestors were only present at T2 election trails? Yet, O’Toole had no problem gathering large crowds, not a single heckler.

Who is dividing the country, hmmm?

Waiting for the next action plan: Leaving On the Jet Plane by Peter, Paul and Mary. And talking to us from another country saying “for Canadians” then last sentence for Climage Change.

Hmmm….on a jet?

Many people try to keep going, wondering when, where vaccination and a passport would be needed, manatory, kicked out of our own jobs/country, lying low, fearful.

Not too many people in the stores, not that many people in the polling stations.

Everyone is tired of all this, people are losing their jobs, busineses, all sad.

#124 KLNR on 09.21.21 at 5:53 pm

@#103 ProudCanadian on 09.21.21 at 5:10 pm
Canada tops the list folks. Be proud!

https://www.usnews.com/media/best-countries/overall-rankings-2021.pdf

feel lucky to be born and raised in such a great country.

#125 Barb on 09.21.21 at 5:56 pm

“…policies to curb excessive profits”.

———————————-

So how much–of a little, non-excessive–profit will be OK?

#126 yvr_lurker on 09.21.21 at 5:57 pm

Sure. Your lefty article talks about REITs as owners of multi-unit buildings. Perfectly fine and they generally provide a great service to tenants, over greedy Mom & Pop landlords with dodgy premises and a penchant for tax evasion. There is no mention of buying for speculation or flipping scores of homes. Be careful what you fall for.

——-
Three items come to mind.
1. Is there some evidence-based article from the righty side that I could read to balance out the article I quoted, where I can get a different perspective? Or is it just your personal viewpoint that these large-scale institutional purchases are somehow beneficial?

2. When there are a very limited number of financial concerns, where profit is the key metric, that dominates a small market (Yukon, small northern towns etc…) you can expect with essentially little competition that rents will spike to the stratosphere without controls owing to Mr. Market forces.

3. Mom and Pop landlords provide the diversification in the market and provide needed competition to offset collusion in the market between a very limited number of REITS dominating the market. Some Mom and Pops are good… some are bad… but no collusion and they provide essential diversification. I thought the lesson here on this blog is that diversification in markets is a good thing? As for unreported taxes, some yes and some no…. and not my concern…..snitches get stitches and we can’t police everyone’s activities….

#127 Stacey on 09.21.21 at 6:09 pm

Carbon taxes will be raised even quicker with Trudeau and liberals, imagine if we had liberals in Ontario, yikes. More CPP, EI deductions increased alot too. Maybe more payroll taxes on top of that.

We will see a minimum every year $3,000 per household increase in all expenses from utilities, food, gas, heating, electricity, delivery, shipping costs, transportation costs etc. just from his more aggressive carbon taxes. If he raises the GST/HST to 18% minimum, this will be every year $4,000 per household minimum higher cot of living expenses for the average Canadian household. What were you thinking Canada.

I am just a renter, single women making $47,000 a year and after my taxes, CPP, EI, rent, groceries, car payments, insurance, gas, other living expenses I have only $13,000 left. I am pretty careful with my money. I don’t go eat out and spend too much on stuff.

The reason I say only $13,000 a year is because my gross income in 2015 when Trudeau got in, my net money left over after all these taxes, increases in living, inflation, I had $17,000 a year left over but now only $13,000 now. This is after I got a total $2,000 raise in these 6 years but have less money left over.

I have managed to save, accumulate quite a bit, $67,000 in TFSA’s and $55,000 in RRSP’s, $50,000 in GIC’s, $15,000 in savings account under the Harper, Flaherty conservative years but now with Trudeau, it is getting much harder. I only have saved, accumulated an extra $90,000 in all these financial vehicles in 6 years. I know this will get much worse and this is maybe why he tried to get a majority Liberal government, Trudeau.

This is $36,000 less in total 6 years under Trudeau liberals and no I did not have much change in my personal expenses or buying alot of crap, stuff etc. Pretty soon, I will be able to save under $10,000 a year and less and less and it is scary to see where we are all going down the abyss of financial ruin.

#128 1-800-DOCTORB on 09.21.21 at 6:25 pm

#96 calgary rip off on 09.21.21 at 4:58 pm
“The best part about the election was not participating. I live in Calgary Nosehill where Michelle Rempel the conservative incumbent is. When I drove past the polling station at 630 pm after my shift at the hospital I saw people going in. Looked like all conservatives who I find ignorant and disgusting.“

I think this just set a new record for dumbest comment of all time.

#129 kommykim on 09.21.21 at 6:26 pm

RE:#77 Guelph Guru on 09.21.21 at 4:25 pm
600Mil. Canadian population is 39mil.
So did I as a taxpayer, spend 15mil CAD on these clowns?
Wish Mr. T2 had just deposited 15mil in my bank acct :)

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

Did you learn math from Trudeau?

#130 Phylis on 09.21.21 at 6:39 pm

#102 Ralph on 09.21.21 at 5:06 pm
CL, the Bloc Quebecois has 29 or 32 seats, I don’t know the final results but there is only 13 needed to pass the 170 majority with liberals to get what they want.

So, technically, Trudeau does not need the NDP and could use the Bloc Quebecois instead.
Xxxxxxx
And he’s a Quebecer….what’s not to love?

#131 S.Bby on 09.21.21 at 6:56 pm

#127 Stacey

It’s boiling down to homeowners vs. everyone else. Home owners are handed tax breaks and various grants like here in BC where over 55’s can defer their property taxes until the home is sold. Or get a $5,000 grant to make the house more energy efficient. Property taxes are relatively low and the house’s value has shot up by triple digits while interest rates are almost zero. In the lower mainland it’s pretty much impossible for any average resident earning a normal wage to get a foothold in the property market now. Meanwhile rents are going up up up to suck away even more of people’s disposable income.

#132 Squire on 09.21.21 at 6:59 pm

#72 SCD on 09.21.21 at 4:19 pm
Although I voted Conservative I do feel that the chickens will come home to roost soon from the past 6 years of Liberal policies. If O’toole had won he might falsely be blamed when the stuff hits the fan. Trudeau is now stuck in a room with his own fart.
———————————————-
Now, is that a fake fart or real smelly one ? I hope it stinks to hell

#133 Yukon Elvis on 09.21.21 at 6:59 pm

I would like to know the demographics of who votes Lib/Ndp.
I would be curious to know the age, gender, race, net worth,education, country of origin etc. There has been a number of references here as to how stupid these people are and I would be curious to know who they are since about 65% of us vote for parties that offer free stuff and tax the rich rather than balanced budgets and fiscal responsibility. Anyone have an insight or data on the demographics?

#134 cuke and tomato picker on 09.21.21 at 7:00 pm

WONDERFUL now when do we get a extra 10 per on our OAS?

#135 Squire on 09.21.21 at 7:02 pm

3rd time is a charm. I think O’Toole could be done soon. Where is Rona Ambrose ??? I would love to see JT squirm trying to battle Rona.

#136 Mrs. Fool on 09.21.21 at 7:08 pm

@#110 Doug t on 09.21.21 at 5:25 pm

My coworker, in her twenties, wants to get a 6-fig salary in five years, work then for another 5 years, retire and live happily ever after. She didn’t like the Conservative platform because she wants to buy a house and flip it, so the NDP or Liberal were her choices. The future is indeed bright for her. She strongly believes RE is the best strategy to make money. And the worst part: she may be right.

We have the politicians we deserve. I wish I could have a wand and disappear Trudeau and Freeland.

#137 crowdedelevatorfartz on 09.21.21 at 7:10 pm

@#75 B Bouy
“Say goodbye to the nice lady at the bank and more fees to pay for Justy’s newest adventures. No doubt the tax will be passed on to US. Times 10.”

++++

Yep.
Trudonia taxes the Big Bad banks.

You can be guaranteed the banks will pass it all onto the consumer.

Unless in Trudonia land fashion…….the banks are all nationalized as the screaming , torches and pitchfork, mobs spray orange paint all over the bank windows.

Venezuelan Heaven

#138 crowdedelevatorfartz on 09.21.21 at 7:12 pm

I wonder when Lotto winners will be viewed as “rich” and taxed at source like the States?

Anyone that wins a big lottery prize “deserves” to be taxed.

Greedy pigs.

#139 When Will They Raise Rates? on 09.21.21 at 7:14 pm

#67 Faron on 09.21.21 at 4:04 pm

#53 James on 09.21.21 at 3:32 pm

Or maybe voters already “priced in” Trudeau blackface and the latest drop from the same event rang more cynical and desperate than conservatives hoped?

————

But, but this time the photo was in … gasp… COLOUR, not black and white!

Agreed, it wreaked of desperation. Didn’t work last time, not sure why the party brass thought it would work this time. I knew they were going to lose the second I saw it.

I’m afraid they need to blow up the party and start from scratch, as the current Conservative party leadership have their heads up their asses.

#140 yvr_lurker on 09.21.21 at 7:16 pm

#114
The argument that investing in markets is “needed” is incredibly suspect when markets are already so highly capitalized as to be in a giant bubble. Furthermore, the “velocity” of money is at lows suggesting that money flooding into equities is doing no real work in the economy.

Seriously, someone please give me the good arguments for <100% inclusion without coming off as simply greedy. It's income. Get over it.
————-

That's how I see it as well. However, taking a step towards 75% would be a perfectly fine. When the right wing echo the Fraser Institute Refrain that 40% of the workforce pay no net taxes, there is never a proper discussion from those sources at how the current capital gains rate is a benefit mainly to those higher earners (not necessarily rich) who can capitalize on this "benefit". Instead of jacking taxes on wages, if funds are needed the next milking source could be a 75% cap rate. However, overall, unless T2 has some sense to cut expenses (which I doubt), wage earners, those living on passive investments (who have long been priviliged by the market), are all going to collectively screwed over. When this occurs, more people will find ways to go underground and skirt the whole tax-paying system. I have a neighbour 2 doors down who has perfected this already.

#141 david on 09.21.21 at 7:17 pm

“Meanwhile the crazed People’s Party polled 5% of the vote and a CBC analysis indicates this may have kept 24 ridings from going Conservative. So Trudeau won, and not a single PPC candidate was selected. Even Max failed – because the people where he lives know him best.”

Good, next conservative candidate will play smarter with PPC supporters and win the election.

#142 IHCTD9 on 09.21.21 at 7:35 pm

#127 Stacey on 09.21.21 at 6:09 pm
— –

Yep. Trudeau is definitely no friend to non-rich, non-home owning Canadians. More accurately, he’s their sworn enemy. Nothing in life gets less expensive or easier under our current crop of Libs.

Hunker down, because EVERYTHING you actually need to live is going to keep going up, and our recycled goofballs in Ottawa will do nothing about it – just like they did last time. Lots of talk, apologies, costumes and face paint, but little actual work.

Not much can be done other than standing back and waiting for detonation, or packing up and leaving.

#143 fishman on 09.21.21 at 7:35 pm

This was a great victory for the Libs. Their giggling & chortling. O’Toole’s strategy was brave. Leave the base & try for a majority with an attack up the middle. Lost his nerve tactically muzzling his candidates. Even the “control freak” waited till after they were elected before shipping them to Siberia. Minor error. His fate was sealed before launching. Of course there was slippage to CPP. Flyboy abandoned his base. Figuring on converting the enemy. Oops!
Now he’s in no man’s country. Zombie leader. Dead man walking. Dead Party walking. Lil potato gets 7 years, maybe more. Imagine that my little doggie bloggies. 10 more years of Libs dispensing patronage & woking Canada’s peoplekind. Sweet pain for a lucky few. Those of us that can give free rein to our inner Trump: feral actions / criminal thought. We swear allegiance to “lil potato” & our flag at half mast with “Its better to beg forgiveness than ask permission.”

#144 baloney Sandwitch on 09.21.21 at 7:40 pm

There was not much daylight between sock and the tool anyway. We are in deep do-do.

#145 Dale on 09.21.21 at 7:40 pm

Phylis, I don’t know much about the bloc Quebecois but I hope they are better than the NDP. I know they did work with the Harper conservatives with some policies that worked out for Quebec.

Phylis, that is right. The last election 2019, The Bloc Quebecois did not have enough with Trudeau Liberals to form past the 170 seats to pass majority territory. This is new for 2021.

#146 Get your facts straight! on 09.21.21 at 7:40 pm

Meanwhile the crazed People’s Party polled 5% of the vote and a CBC analysis indicates this may have kept 24 ridings from going Conservative. So Trudeau won, and not a single PPC candidate was selected. Even Max failed – because the people where he lives know him best.

____________________________________________

What a load of codswallop!

In fact, you are just espousing your deep hatred of all things PPC by quoting a lame CBC article who just want to cause further division.

At the time of this writing, there are only 18 (not 24) ridings in which the Conservatives would have won if they had ALL of the PPC vote. That still means LIB 140 vs CON 137 which ultimately changes nothing – Liberal minority. (*I’ll provide a list if someone wants or better yet, do your own homework!)

In fact, on average, even with ALL of the PPC vote, Conservatives would have only exceeded the Liberal vote count by ~1300 votes on average in these ridings. Not a lot!

For some reason, you seem to think that people who voted for PPC should have voted for Conservatives. How ludicrous and selfish. Give your head a shake!

You should actually read what you write sometimes.

Your guy is the prince of nothing and the spoiler of much. The biggest egomaniac in Canadian politics. Do not be deceived. – Garth

#147 You can bank on this! on 09.21.21 at 7:52 pm

#4 Dave on 09.21.21 at 2:18 pm

While the banks are great investments due to their oligopoly, they have been screwing customers with outrageous fees for years. It’s time to return some of this money for Canadians.

__________________________________________

Oh Dave. It’s so funny listening to people like yourself who think they understand things like this. You don’t think banks will just pass on the costs to its customers to cover this expense? BTW, what outrageous fees? I’ve been banking longer than you’ve lived…. still no outrageous fees that I’ve seen.

You remind me of those people that believe the rhetoric of our glorious leader, Justin Tinkerbell. Nice people, just not that bright!

#148 Ricker on 09.21.21 at 7:54 pm

The Conservatives are still acting like a wing of the Reform party. If they would move a bit left of centre on Social issues and right of centre on Financial issues, I could vote for them. They would gain more votes overall! Leave the right wing nutters to Mad Max.

#149 Planetgoofy on 09.21.21 at 8:00 pm

#45 Jake on 09.21.21 at 3:19 pm
O’Toole sunk himself. You can’t expect voters not to notice his constant criticism of Trudeau by arguing he put Canadians at risk by calling an election during a pandemic, but then also applaud Jason Kenney for pulling back the reins on covid measures.
——————————–
I get what your saying Jake but if you think these weinie things are truly critical to Canadas short or long term future of the economy, affordable housing, off the charts inflation and the freight train of other BS thats coming. You need to get back to the drawing board of thought.
This shit is absolutly infinitesimal to the big picture.
Its a waist of blooy air time and you people gobble it up!

Heres a facto fir ya. For ever Loonie that was sent to people to help with CERB ect do you know how much went out to people that didnt need the money?!!!!! 84 cents on the loonie and im talking billions of loonies.
Did ya here anything about that?
Ya know why? Because the medias a fricken joke.
And you actually listen to that crap.

There is a direct correlation to wealth and the system that you buy into.
The more you listen to gov and the media especially wall street the poorer you will be.

I did well because i can see throught bullshit.
7 digits well. I dont need anymore loot but most will just to survive.

Look at Biden dipshit….his approval rating collapsed.
I predicted he would be an idiot right here.
People trashed Trump….he had potty talk but but if im hiring a guy to run my shit who do you think it would be? T or B.
No contest.
I wouldnt let Socks run my lemonade stand.

#150 opee on 09.21.21 at 8:02 pm

Results are in, now let’s hear about your recommendations, (no looking back)how to win the next time, for the C’s who should have a crack at a win.
I would like to see a new leadership convention right away, why? Well, if you and I do not achieve the company’s goal, the right due report and on time and or the minimum profit expected for company to survive, etc. in our own responsibilities, the normal result is a transfer, you get replaced, etc. This C team in 2021 had a chance, now let’s get a new one, if you really want to win, that is. What ever happened to resignations, to a loss. It wasn’t the voter’s fault!

#151 KLNR on 09.21.21 at 8:05 pm

@#147 Ricker on 09.21.21 at 7:54 pm
The Conservatives are still acting like a wing of the Reform party. If they would move a bit left of centre on Social issues and right of centre on Financial issues, I could vote for them. They would gain more votes overall! Leave the right wing nutters to Mad Max.

so true.
I feel with them losing again they’ll be going back/wards to placating their base.

#152 Dogman01 on 09.21.21 at 8:08 pm

Canadian Banks, Telcos etc

The Banks will lie low until early next year, no Div Increases despite massive success. They may even pull out their financial Wizards to look worse then reality.

“But when the taxman comes to the door
The house look a like a rummage sale”

Their Hired Help, T2 will distract the masses with something special, – that is what he is paid to do, worst case a symbolic poke at the Bear, the Banks will move on learning to keep a lower profile.

Canada is a Farm and the Farmers know it. They just need to keep it hidden from the Sheep.

Our Farmers need to learn, they have been squeezing the juice out of Canadians for so long that as the standard of living keeps declining most are moving left.
The Chinese are showing their true colour and no longer need the Western Aristocracy, they can raise their own capital and steal IP at will.

The Canadian Farmers need to realize, Globalism is not going to pan out for them, they need to look after their backyard, their herd is getting squeezed so hard with no hope and with no upward mobility that Socialism looks like a good choice.

#153 Faron on 09.21.21 at 8:09 pm

#139 When Will They Raise Rates? on 09.21.21 at 7:14 pm

#67 Faron on 09.21.21 at 4:04 pm

#53 James on 09.21.21 at 3:32 pm

…I knew they were going to lose the second I saw it….

I know that feeling. It wasn’t as bad as Hillary’s flub, but when she uttered her “basket full of deplorables” line early in the ’16 election, I knew she was sunk.

#154 Phylis on 09.21.21 at 8:13 pm

#140 yvr_lurker on 09.21.21 at 7:16 pm
#114
The argument that investing in markets is “needed” is incredibly suspect when markets are already so highly capitalized as to be in a giant bubble. Furthermore, the “velocity” of money is at lows suggesting that money flooding into equities is doing no real work in the economy.

Seriously, someone please give me the good arguments for <100% inclusion without coming off as simply greedy. It's income. Get over it.
————-

That's how I see it as well. However, taking a step towards 75% would be a perfectly fine. When the right wing echo the Fraser Institute Refrain that 40% of the workforce pay no net taxes, there is never a proper discussion from those sources at how the current capital gains rate is a benefit mainly to those higher earners (not necessarily rich) who can capitalize on this "benefit". Instead of jacking taxes on wages, if funds are needed the next milking source could be a 75% cap rate. However, overall, unless T2 has some sense to cut expenses (which I doubt), wage earners, those living on passive investments (who have long been priviliged by the market), are all going to collectively screwed over. When this occurs, more people will find ways to go underground and skirt the whole tax-paying system. I have a neighbour 2 doors down who has perfected this already.
Xxxxxxxxxxx
Pressure from investors will create a switch to dividends and less growth, won’t it? Call that skirting if you want.

#155 facts on 09.21.21 at 8:15 pm

#146 Get your facts straight!

At the time of this writing, there are only 18 (not 24) ridings in which the Conservatives would have won if they had ALL of the PPC vote. That still means LIB 140 vs CON 137 which ultimately changes nothing – Liberal minority.

Your guy is the prince of nothing and the spoiler of much. The biggest egomaniac in Canadian politics.

How about a logical argument when someone calls out the faulty math from CBC, that you continue to spread?

Or at least tell us more, what happened? It’s obviously something deeply personal.

#156 Nonplused on 09.21.21 at 8:16 pm

The PPC was probably a Liberal op the whole way along, with mad Max as a double agent. Hopefully that is one trick that only works once now that the audience knows how the trick was done.

Also on the list of Liberal psy-ops was probably the Maverick party. What a joke. At least nobody fell for that one. Hint to those involved: Naming your party after cattle rustlers isn’t probably a winning move. But if you ask me it wasn’t more than an excuse for tax deductible cowboy themed parties exempt from mask requirements.

I got the general election result right (no major change) but I have to admit I expected the Conservatives to add seats and the Liberals to lose seats. Hopefully the Max effect can explain it and it goes away for next time.

Anyway, let’s see if O’Toole is correct and Trudeau’s going to come out for another swing in 18 months. “We will keep having elections until the populace votes correctly!” Very European.

———————————

One thing I feel fairly comfortable coming out of this is that the next 18 months won’t produce anything significant politically. From the acceptance speeches, my call would be that Trudeau and Singh don’t actually agree on all that much. The platform planks they agreed upon are pretty minor and don’t affect that many people. I mean who really cares about $10 daycare? This affects only those moms who wish to work while they have small children who aren’t in school yet, so maybe for 5-7 years of their lives. It probably won’t affect women with lots of children because they still won’t be able to afford it. It is really just a nice gift to the YUPPIE soccer moms. By next election nobody will care.

Or gun control? That polled well in the survey. As I have said before, nobody cares. Assault rifles are already illegal in Canada and a legal one is not to be found from coast to coast, so making the illegal ones the gangs have even more illegal isn’t impressing anyone.

Taxing the banks? It probably won’t happen because the economists who can actually model what such a thing might do to the economy all work for the banks, so they will be well prepared. Anyway we are at peak tax so if they move the Hoover point from dividends to bank revenues or however they plan to do it revenues will just fall somewhere else.

And of course all of Trudeau’s plans to save the housing market are along the lines of 0% down, 0% financing, 84 month term auto loans. Sure it stretches the monthly, but it doesn’t make the Corolla any cheaper. If Trudeau does call another election in 18 months, that will make it approximately 90 months that he has presided over the worst housing bubble in global history and all his babble did nothing at all to even slow it down. If we can’t vote him out after that, the system is clearly rigged.

So my prediction: 18 months of nothing substantial and then we do it again. Hopefully Max sits the next one out because he is only helping Trudeau, much to the detriment of the rest of us.

#157 Deano on 09.21.21 at 8:17 pm

“This does not mean the government has a right to steal more.”

We can argue about taxation rates, but the moment you equate taxes as stealing, is the moment you lost the argument.

#158 jimmy zhao on 09.21.21 at 8:19 pm

RE: #13 Shaggy on 09.21.21 at 2:28 pm

creepy Kevin Vuong will earn $185,800 plus benefits as an MP. That’s pretty good money.

#159 AACI Homedog on 09.21.21 at 8:23 pm

Good…could be the end for Max. That may help next time. A bright side, anyhoo…

#160 crowdedelevatorfartz on 09.21.21 at 8:24 pm

@#133 Yukon Elvis
“Anyone have an insight or data on the demographics?”

++++

Demographics….?

Pfft.

The sense of entitlement is in direct proportion to their tattoos…because …they never stop at one….

#161 KLNR on 09.21.21 at 8:25 pm

looks like otool might not be the only conservative leader getting the boot. Ford probably not too far behind either.

https://www.cp24.com/news/alberta-premier-jason-kenney-battles-covid-19-hospital-crisis-internal-party-revolt-1.5594903

#162 DON on 09.21.21 at 8:33 pm

The Conservatives lost because they couldn’t go closer to the center. Child care was a big miss.

The Liberals got a minority gov not a win. Now they have to work together with others to push their agenda.

The ability for a party to win a majority without the support of the majority of voters should be addressed. That’s bullshit!

#163 facts on 09.21.21 at 8:33 pm

#148 Ricker

Trudeau-Conservatives lost the election.
Adding more Trudeau will make them a winner :)

#164 Faron on 09.21.21 at 8:33 pm

#133 Yukon Elvis on 09.21.21 at 6:59 pm

With regard to demographics, there’s this for the candidates:

https://ici.radio-canada.ca/info/2021/elections-federales/minorites-visibles-diversite-autochtones-racises-candidats-politique/en

Not sure if there is anything similar for voters by party. There’s an article by political activity by demographics, but not assigned to race.

That said, I’m pretty sure Conservatives are whiter, older, more wealthy and less immigrant than Liberals who are less than NDPers etc. I read that somewhere, but can’t find the link now.

#165 Quintilian on 09.21.21 at 8:40 pm

Some time back I made the point that voters are just as corrupt as the politician who basically asks the question: What’s in it for me?

Exhibit A:
https://vancouversun.com/news/politics/election-2021/election-2021-results-vancouver-granville-one-of-lower-mainlands-tightest-races

Although not yet decided, it is nonetheless telling that 15,000 people, so far, voted for this civic minded man.

#166 Michael in-north-york on 09.21.21 at 8:49 pm

#12 ValleyBoy on 09.21.21 at 2:26 pm

The government deficit is out prosperity. So if they don’t create we fight for less. So why is everyone attacking the deficit.
===

Because the deficit is only OK for as long as you can find buyers for the ever-growing volume of government bonds. Once you run out of buyers, the borrowed money will hit the consumer market and the inflation will spike.

If you believe that Canadians have been too fortunate for the last few decades, and need some real life (third-world type) experience .. then you should pat yourself on the back. Everything is being done correctly.

#167 When Will They Raise Rates? on 09.21.21 at 8:51 pm

#149 Planetgoofy on 09.21.21 at 8:00 pm

#45 Jake on 09.21.21 at 3:19 pm
O’Toole sunk himself. You can’t expect voters not to notice his constant criticism of Trudeau by arguing he put Canadians at risk by calling an election during a pandemic, but then also applaud Jason Kenney for pulling back the reins on covid measures.
——————————–
I get what your saying Jake but if you think these weinie things are truly critical to Canadas short or long term future of the economy, affordable housing, off the charts inflation and the freight train of other BS thats coming. You need to get back to the drawing board of thought.
This shit is absolutly infinitesimal to the big picture.
Its a waist of blooy air time and you people gobble it up!

Heres a facto fir ya. For ever Loonie that was sent to people to help with CERB ect do you know how much went out to people that didnt need the money?!!!!! 84 cents on the loonie and im talking billions of loonies.
Did ya here anything about that?
Ya know why? Because the medias a fricken joke.
And you actually listen to that crap

————–

The gal that owns the cottage next to my inlaws took in over $1,000,000 in “supports” since the pandemic began. She has used the $$$ to put in 2 additional docks, new speed boat, jet skis, cottage reno, a guest bunkie and a jacuzzi, just to mention a few upgrades courtesy of Trudeau confetti/dollars.

“Fiscal stimulus”

#168 Think about it on 09.21.21 at 8:51 pm

No bank from the very biggest to the very smallest ever paid a dime in tax that they didn’t first collect from their customers. I think the retirement accounts will be fine. Policies like this always turns out the same way. The middle class will drop down to the working poor and the working poor will drop down to the homeless. The 40% that pays no taxes will grow to 50%. As always the rich get richer and the poor get poorer.

#169 millmech on 09.21.21 at 8:55 pm

#118
When in Rome do as the Romans do, especially with housing, now that we have the pro housing government I am going all in now.
Have an accepted offer today(was waiting to confirm Liberal victory)on an up/down duplex in a smaller town with no rental stock at all, will be giving tenants in both units 60 days notice as I intend to occupy and convert back to one unit.
After six months with myself in unit will return units back to two separate units and rent out both at the local market rates. I have only put down 5% so all is good as intention is still to occupy and I have four years to rent it out and claim principal residence exemption.
I also am looking at a house with an unauthorized suite in the basement in the same town and will be putting 20% down, removing bottom renter as bottom suite is illegal and I will wait the customary six months and then make bottom suite legal with city and rent out at market rates.
Own four rental units for under $200k investment!
All hail King Justin!

#170 Michael in-north-york on 09.21.21 at 8:58 pm

#4 Dave on 09.21.21 at 2:18 pm

While the banks are great investments due to their oligopoly, they have been screwing customers with outrageous fees for years. It’s time to return some of this money for Canadians.
===

Well, they are an oligopoly (it is very hard to start a new bank, or for a foreign bank to enter the Canadian market). That gives them the pricing power and, effectively, profits above the market equilibrium.

The good part is that the banks will not consider closing the shop and taking their capital elsewhere. The said priviledged position will keep them engaged.

The bad part is that they will take “their” money back, in the form of higher user fees and lower dividends.

And the ugly part is that the new tax revenues from the banks will cover less than 10% of the projected deficit.

#171 Don Guillermo on 09.21.21 at 9:01 pm

#83 SoggyShorts on 09.21.21 at 4:38 pm
#10 S.Bby on 09.21.21 at 2:24 pm
#4 Dave

Agreed. Same with mobile phone providers, gas prices etc. we get it from every angle here in Canada.
***********************
In my research for moving to Mexico I found out that you can get a 3GB plan with unlimited talk&text in Can/USA/MEX with unlimited free roaming. For under $15/mo.

This means you can take the sim card that you buy in Mexico (or online) and still use it in Canada when you come back (or if you never even left)
*********************************

Yes it’s true. I use the 200 MXP sin limite plan ($12.75 CA at todays exchange). I’ve been using this for years. Unlimited calls between USA/Mexico/Canada. Not sure how much data I get but never run out. I have a dual sim phone so I can keep my canadian SIM. Use both everywhere. Only reason I keep the Canadian number is most Norte Americanos struggle with overseas dial codes. Here’s how it works.

https://www.telcel.com/personas/telefonia/amigo/paquetes-end/paquetes-amigo-sin-limite

You can top your Telcel account online from anywhere.

#172 Write Off on 09.21.21 at 9:31 pm

#114 Faron

If the inclusion rate is 100% for Capital Gains, then Capital Loss is 100% as well. Oops, “bad investment” – 100% write off instead of just 50%. Creative accounting here we come. Springtime for ‘investors’ in Canadaaa. When a dud may make more sense than a winner thanks to progressive incentives.

#173 KLNR on 09.21.21 at 9:48 pm

@#169 millmech on 09.21.21 at 8:55 pm
#118
When in Rome do as the Romans do, especially with housing, now that we have the pro housing government I am going all in now.
Have an accepted offer today(was waiting to confirm Liberal victory)on an up/down duplex in a smaller town with no rental stock at all, will be giving tenants in both units 60 days notice as I intend to occupy and convert back to one unit.
After six months with myself in unit will return units back to two separate units and rent out both at the local market rates. I have only put down 5% so all is good as intention is still to occupy and I have four years to rent it out and claim principal residence exemption.
I also am looking at a house with an unauthorized suite in the basement in the same town and will be putting 20% down, removing bottom renter as bottom suite is illegal and I will wait the customary six months and then make bottom suite legal with city and rent out at market rates.
Own four rental units for under $200k investment!
All hail King Justin!

lol, really stickin’ it to the man there.

#174 Drinking on 09.21.21 at 9:56 pm

Hey T2 has to somehow pay for the most useless $660 millions dollars spent so he could try to oust Jag. The only thing this little weasel understands is the Laurentian’s and the very naïve southern Ontarians that keep voting for one of the most corrupt P.M. (not me saying this but many news outlets) that we have ever had. Ying and Yang, thank God we have some Yang in this country.

#175 Planetgoofy on 09.21.21 at 9:56 pm

DELETED

#176 Ponzius Pilatus on 09.21.21 at 10:00 pm

#77 Guelph Guru on 09.21.21 at 4:25 pm
600Mil. Canadian population is 39mil.

So did I as a taxpayer, spend 15mil CAD on these clowns?

Wish Mr. T2 had just deposited 15mil in my bank acct :)
—————————-
Your math is off.
But good question:
Where did the money go?

#177 crowdedelevatorfartz on 09.21.21 at 10:09 pm

@#165 A Quintillian houses flipped before I care about the homeless

“Although not yet decided, it is nonetheless telling that 15,000 people, so far, voted for this civic minded man.”

++++

Civic minded Liberal.
This is the guy that flipped 21 houses for a profit and he’s ‘civic minded”?
Bwahahahaha.

Whats next for the sheeple to believe?
“The Budget will balance itself…” ?

My Gawd.

#178 Dr V on 09.21.21 at 10:11 pm

Faron/lurker – I hope to take some of my cap gains in retirement when my income is lower. This year my earned income is higher, though I might take some
gains just to lock them in.

If its the “rich” you are worried about then why not bring back the lifetime cap gains exemption? Just make the number low enough so that a retired person could take a few $k every year for 20-30 years.

Or increase the TFSA contribution limit to $10k.

Oh, I forgot, Trudeau thinks only the rich can put $10k
in a TFSA.

#179 The beginning of the end... on 09.21.21 at 10:11 pm

…for Kenny.

The real reason O’Tool lost.

#180 IHCTD9 on 09.21.21 at 10:20 pm

#140 yvr_lurker on 09.21.21 at 7:16 pm

When the right wing echo the Fraser Institute Refrain that 40% of the workforce pay no net taxes…

—— –

I guess you and Trudeau disagree on that one.

“low-income families don’t benefit from tax breaks because they don’t pay taxes”

– Justin Trudeau.

Hell, there was a time when I barely paid any net taxes even. Not hard to believe at all.

#181 Ponzius Pilatus on 09.21.21 at 10:26 pm

Insider info:
The Cons are in discussion with William Bradley Pitt to lead them into the next election.

#182 UrbanRed on 09.21.21 at 10:35 pm

I am really interested in knowing the rationale behind voting for Liberal. All urban cities are red, which means Liberal gets the votes from middle class workers. Everybody thinks someone else will pay for the money borrowed? nobody cares tax increase? or Liberal is the only party who can keep the RE party going on forever?

#183 Ponzius Pilatus on 09.21.21 at 10:35 pm

#133 Yukon Elvis on 09.21.21 at 6:59 pm
I would like to know the demographics of who votes Lib/Ndp.
I would be curious to know the age, gender, race, net worth,education, country of origin etc. There has been a number of references here as to how stupid these people are and I would be curious to know who they are since about 65% of us vote for parties that offer free stuff and tax the rich rather than balanced budgets and fiscal responsibility. Anyone have an insight or data on the demographics?
—————————-
Garth’s poll not good enough for you?
Jeez.

#184 kc on 09.21.21 at 10:47 pm

17 T on 09.21.21 at 2:34 pm

Vaccine mandates – about to come for all across the country. Like it or not, this was a significant agenda item in this election.

***********

Not happening at my house… See the revolts in Australia lately? you think that can’t happen here?

18 S.Bby on 09.21.21 at 2:41 pm

#9 Cheese

It’s not that bad. We could be living in Afghanistan.

*********

20 years and trillions spent to help women take a rag off their faces… and here are us being told to put 1 on….

square that circle

only good thing from last night is that Mr. T. didn’t get a majority…

#185 Yawbawdy on 09.21.21 at 10:51 pm

All is not lost. None of these promises matter because Liberal promises are not worth the paper they’re printed on. Corollary, increased taxes were not promised and are a given.

#186 Ponzius Pilatus on 09.21.21 at 10:55 pm

No party is gonna serve JT with a confidence vote.
Lest they will be blamed for wasting another 610 mill on a needless election.
Emporer Justin will rule with dictatorial powers.
Fasten your seatbelts.

#187 Faron on 09.21.21 at 10:57 pm

#178 Dr V on 09.21.21 at 10:11 pm

Nothing would stop you from taking your several k each year. It gets included in your income and you pay taxes on it at your marginal rate. Pretty simple. I still don’t see why it should be less than 100%. And, yes, I would be affected.

#172 Write Off on 09.21.21 at 9:31 pm

Sorry, my ethics don’t allow me to try to cheat the system. Same should be true for everyone. Creative accounting is illegal, or should be. Greed. Sheer greed. Borne of fear. Gross.

#188 When Will They Raise Rates? on 09.21.21 at 11:10 pm

#153 Faron on 09.21.21 at 8:09 pm

#139 When Will They Raise Rates? on 09.21.21 at 7:14 pm

#67 Faron on 09.21.21 at 4:04 pm

#53 James on 09.21.21 at 3:32 pm

…I knew they were going to lose the second I saw it….

I know that feeling. It wasn’t as bad as Hillary’s flub, but when she uttered her “basket full of deplorables” line early in the ’16 election, I knew she was sunk.

————-

For me it was when she was chucked into the van like a side of beef after fainting at the 9/11 memorial

#189 Vanreal on 09.21.21 at 11:17 pm

Well we know know the exact percentage of the country that are the crazy deplorables. 5% to be exact.

#190 calguy on 09.21.21 at 11:23 pm

People in the GTA need to explain why they voted for the Liberals. I just don’t get it. Trudeau prorogued parliament for months last summer while pandemic went on. There has been no foreign policy direction in terms of dealing with China and Afghanistan. He has been hypocritical and divided the country more than previous politicians. The debt and reckless spending has not been brought up. If I could leave and go south, I’d be gone. People need to do some critical thinking. We are going to be screwed.

#191 Beetman on 09.21.21 at 11:29 pm

Had my sewer tank pumped out yesterday. The guy asked where he should dispose of it. I suggested he take it to liberal head quarters in Ottawa.
Looks like he go there.

#192 Baffled on 09.22.21 at 12:17 am

I don’t read these comments any more but today I did because I was interested in what people were thinking about this election result. I remember now why I quit reading comments. Not all but some are just simple, narrow minded thoughts with no reasoning, a few insightfull ones. I tend to vote like those in Alberta but don’t subscribe to the things they spout about where I live. Having traversed this land constantly for 40 years I’m not surprised though. Ontario has 14.6 million people, Quebec 8.5 that is 23 million in a country with a population just over 38, over course that’s the majority but not every single person voted for one party so other regions contributed to the total obviously, even some from Alberta.
A large part of our problem is allowing a party that does not even run candidates outside one province, that is not a federal party and shouldn’t be allowed federally. These others who can’t field a full slate and moreover can’t win more than a seat or two are more problematic than helpfull, they are meaningless no matter how well intentioned. They make a pretty good living for those elected for them without a lot of effort other than at election time and at least one of them will get a good pension the rest of us would love. Splitting parties makes things worse as the Reform Party proved and another party again in Alberta more recently. Both ended up having to reunite even if they called it something new that’s what they did. Like someone once said Once you have the good proof and it’s proven then you have the proof, or something like that I doubt he could repeat it either.
Another huge issue is all this nation to nation nonsense with entities who are not nations. Quebec is not a nation it is a province within a country. The indigenous are not a nation they are also distinct members of are population, should they be afforded some things the rest of us aren’t? Possibly but they are not a nation there is one nation Canada that we are all part of. The treaties we signed should be honoured reguardless.
Most Quebecers aren’t interested in separating. They can’t make it on their own and who would have them. France don’t see how that could help them. The U.S.A.? That would end distinct and the French language quick.

I didn’t like the results either and 610 million would go a long way toward a hospital in a few places that need it or actually doing something about housing a good number of homeless or many other needs. Might be better to think about what we really need in this country and then keep on top of your MP constantly about it and not just bitch at election time. That might get you something you like better.

#193 yvr_lurker on 09.22.21 at 12:51 am

#178
Faron/lurker – I hope to take some of my cap gains in retirement when my income is lower. This year my earned income is higher, though I might take some
gains just to lock them in.
—–

I understand that the way cap gains is treated is very benificial to those trying to self-fund retirements, especially when they already have a sizable nest egg. My growing beef over time has been with Gov’ts that have the midset of raising taxes primarily by simply increasing the marginal rates of high earners (and for them “high” starts at 200K). Now in BC it is 54%. Shall it be 60% in a few years? How about 70%. Since it is too complicated to do otherwise (according to the Gov’t) let’s however leave all of those alone who primarily get income from passive investments alone. Including T2 from his family trust funds and all of those born on third base.

For those who start with zilch and become through years of effort reach even at the low end of high earners (200K or so) to build a sizable nestegg (without some risky real estate flip etc…). Killing yourself every year to get a decent wage increase and having 54% of it zoomed off to the Gov’t is not a great incentive to climb up further in the conventional way. Incentive is higher for flipping, dipping, dodging with extra side jobs, etc… if one is so inclined (I am not however).

So yes, the capital gains rate as it stands is a huge asset for those self-funding retirements. However, further tax increases can not only be about increasing the marginals.

#194 I’m stupid on 09.22.21 at 6:12 am

Well I guess it was inevitable, people are people. I spoke to a friend who told me that a pharmacist he knows will give him the covid vaccine. The pharmacist won’t inject him, just give him the paperwork like he got vaccinated and waste the vial. The cost is 7k cash.

I told him to be careful because I could only imagine what the charges would be if he was caught.

#195 Immigrant man on 09.22.21 at 6:47 am

I think the assumption that PPC hoovered up the Con vote is flawed. Sure, some would vote for Cons IF there was no PPC, but some would just not vote at all. Voter turn out was a whopping 59%. This means almost half of eligible population in Canada sees nothing to vote for. And at least some of those people are on the political right. And I mean right, not just what CBC calls “right” in relation to their god of socks.

The current iterations of the Cons are conservative in name only. C’mon, “the wrinkles” you can surely compare the party platforms from the 90s and early 2000s to the current ones. If you had a time machine and brought the current Con program to those days no one would believe you this is a “right-of-centre” party platform!

As for Max’s personality…. I don’t care. I just want a placeholder for “can we please stop multiplying government programs and creating new taxes?” So I voted PPC fully expecting to get nothing in return. Maybe in the future there will be a conservative leader that the voters find more palatable (and he actually gets his damn covid shots). Maybe team T2 and Jag will finally be able to prove to Canadians that “eventually you run out of other peoples money”? Only after that can we actually have a fiscally conservative government (blue liberals don’t count).

#196 Cindy on 09.22.21 at 6:47 am

At TVO they were asking why Trudeau called the election when most were telling him they did not want it. I have a very gut feeling and insight that it was Jean Chretien who suggested it to Trudeau and tipped it to calling the election now. They just did not want to say it in my opinion.

They both know things are going to get worse as Jean Chretien worked for his father Pierre Trudeau during 17%+ inflation and 20%+ mortgage rates plus a faltering economy. They know their ruinous economic, tax, debt, deficits, future job losses, poor quality, lower paying jobs policies and borrowing at unsustainable low interest rates like there is no tomorrow is going to make alot more people angry, frustrated, vote against liberals.

#197 Jay (Not that one) on 09.22.21 at 6:56 am

Reality check: The conservatives weren’t going to get the PPC voters with their platform.

One party was talking about balancing the budget within their first mandate, the other was talking about perpetual deficits (but they’ll feel really bad about it).

One party was talking about giving Canadians choices while the other party was talking about “the new normal”.

One party was talking about responsible monetary policy, the other was talking about policies that will require more money printing.

One party was talking about following the charter of rights and freedoms, the other seems to have only a passing familiarity with it.

One party was talking about real solutions to issues on reserves, the other party was more than happy with the status quo.

One party was talking about free markets, the other party was running on their intent to interfere in free markets.

One party was talking about focusing on Canada’s chronic problems, the other seems to be all-in on trying to save the world.

Those votes for small limited government were never going to go to you. Those voters would have stayed home because the conservative party of canada has nothing to offer to people who care about these things.

Maybe the conservative party could consider trying to cater to conservatives next time? Naw, that’s just crazy talk. O’Toole should continue catering to the NDP voters, that’s the only way to win an election. He’s already entitled to every right of center vote because he’s got the word “conservative” in the name of his party!

#198 Brian on 09.22.21 at 7:01 am

Interesting analysis

25 seats were lost by Conservatives by less than the margin the PPC garnered in those ridings

AKA….Irony of Ironies….the Peoples Party Of Canada….Saved Trudeau !

sheesh

Overall, it can be argued that 25 Conservative seats were lost due to the failure of Erin O’Toole’s party to speak to the desires of PPC voters, namely that Canada has no place for vaccine passports and indefinite lockdowns. In addition, who knows how many centrist voters stayed with the Liberals simply because O’Toole offered nothing that was substantially different than his opponent.

Perhaps the Conservative Party of Canada will take note of what took place and might even attempt being … conservative for the next election.

#199 Brian on 09.22.21 at 7:01 am

Interesting analysis

25 seats were lost by Conservatives by less than the margin the PPC garnered in those ridings

AKA….Irony of Ironies….the Peoples Party Of Canada….Saved Trudeau !

sheesh

Overall, it can be argued that 25 Conservative seats were lost due to the failure of Erin O’Toole’s party to speak to the desires of PPC voters, namely that Canada has no place for vaccine passports and indefinite lockdowns. In addition, who knows how many centrist voters stayed with the Liberals simply because O’Toole offered nothing that was substantially different than his opponent.

Perhaps the Conservative Party of Canada will take note of what took place and might even attempt being … conservative for the next election.

Then the party would be a powerless rump until it realized that to be elected in Canada you must be centrist. Once the pandemic is gone the anti-vax PPC will vanish. In fact, it already is. Meanwhile people who voted for Bernier got Trudeau, as this blog forecast. – Garth

#200 Jessica on 09.22.21 at 7:38 am

I agree, yvr_lurker, if they want to raise the capital gains tax rates to marginal rates like with interest income, wages, salaries, annuity income, pension income etc. they have to give people anther way to fund their retirement and savings, investments so they will rely on less or don’t rely on government support and benefits in the future.

There are 3 things I would accept to counterbalance the 80% or 100% capital gains inclusion rate. First, a higher TFSA limit in 2 ways, make it maximum $15,000 per year contribution and a one time bonus $75,000 upfront TFSA contribution limit.This way, your compounding acts quicker in a lump sum when you are older and want to retire or near retiring.

The second thing is the first $100,000 of RRSP, LIRA, LIF, RRIF, LRIF withdrawal is taxed at maximum 15% Federal+provincial rate which is usually 5% to 10% in most provinces it would be a total 20% to 25% tax rate and it is does not get clawed back for any OAS and other pension benefits. You can only do one of these for tax free withdrawals not all of them

The third thing is the yearly $2,000 RRIF and annuity payments that you get a income tax credit and pay very little taxes should be changed. It is too low and has not kept up with inflation for decades. It should be a deduction every year not a non-refundable tax credit and increased to $7,500. Also, this $7,500 annual RRIF, annuity payment would not be subject to claw backs of OAS and other pension benefits as well.

All of these 3 things changed would be per individual and

Those that keep saying tax everybody with something, money, property etc. don’t understand that if more and more people are poorer, they will rely on the government which they don’t believe has a limit and can get really impact their lives quick. Let people take care of themselves and stop hitting over the head with a big tax hammer that gets bigger and bigger every year. Taxes and inflation, cost of living is already pretty high for many higher income and property owners Canadians.

#201 Steven Rowlandson on 09.22.21 at 7:46 am

What if the businesses being taxed make investments that ensure that there is little or no profit to tax?
Technology upgrades, employee training programs or new homes for employees as a signing bonus… Happy workers are loyal workers. All these things must be a cost of doing business and would be deductible.

#202 Brian on 09.22.21 at 8:24 am

Perhaps the Conservative Party of Canada will take note of what took place and might even attempt being … conservative for the next election.

Then the party would be a powerless rump until it realized that to be elected in Canada you must be centrist. Once the pandemic is gone the anti-vax PPC will vanish. In fact, it already is. Meanwhile people who voted for Bernier got Trudeau, as this blog forecast. – Garth

How well did that centrist campaign work out for you? O’Toole sealed his fate when he went against his own leadership campaign pledges! He went left of his own pledges at the leadership convection. He alienated the party’s base much like Doug Ford in Ontario!

Knuckledragging anti-vaxers are not the Conservative base. Just the noisy part. Most Canadians want social progress and yet fiscal prudence. If the goal of politics is power (and there is no other), the party must reflect the electorate, not try to refashion society into its own vision of what should be. The Taliban are good at that, apparently. They won’t last, either. – Garth

#203 crowdedelevatorfartz on 09.22.21 at 8:29 am

Just when you thought all of Alberta voted Conservative…..

https://www.citynews1130.com/2021/09/21/hope-blossoms-as-first-two-spirited-mp-elected/

Who needs the Yogic Party of the 1980’s .
We have free bunnies and unicorns on the way.

#204 Andy on 09.22.21 at 8:49 am

#196 Cindy on 09.22.21 at 6:47 am
At TVO they were asking why Trudeau called the election when most were telling him they did not want it. I have a very gut feeling and insight that it was Jean Chretien who suggested it to Trudeau and tipped it to calling the election now. They just did not want to say it in my opinion.
___________________________________

Garth, I think Cindy is onto something here.

While lots of the boys and girls in the back office are the normal political hacks and dimwits, some are very savvy.

I have a few political operatives as friends, and they provide another insight recently to me.

Not only was this election an effort to possibly avoid later bad news, but something else was going on.

The Liberals see the faultlines in the conservative movement as something they can push towards a complete fracture, with benefits for many years to come.

You are wrong about Max, Garth. He is not going away, anymore than the Trump movement. He is a gift basket to the Libs/NDP, and they know it. If he leaves the stage, he will be replaced right away by more alt-right tropes.

In the CPC, there will soon be a weakening or collapse under O’Toole, more fighting with the PPC, Kenney out and likely Ford and a couple other Con premiers in the next two years.

The Liberal strategists are playing the long game right now, and the current election outcome is neither here nor there to them.

And a side hustle is preparation for an amalgamation of the Liberals and NDP, based on policy if not actual party status. This will steal the centre of politics for a long time.

By the past standards of Canadian politics, this looks rather brilliant. Imho.

#205 Immigrant man on 09.22.21 at 8:50 am

Then the party would be a powerless rump until it realized that to be elected in Canada you must be centrist.
———————-
Does this mean T2 x 2 is centrist? I think ppl want free stuff more than ever.

#206 Mr Canada on 09.22.21 at 8:54 am

We have become a country of mediocrity.

Always were. – Garth

#207 Abc123 on 09.22.21 at 9:44 am

So one program after another that gooses housing values higher , with many more always on the horizon as well as the ability to augment them ever more favourably ,while we tax corporations and income at ever increasing rates.

So why should we invest in financial assets at all then ?

Seem like a Canadian is far better served owning as much RE as he can.

#208 Quintilian on 09.22.21 at 9:48 am

Right wing Canadians, as I declared before, are the cousins of the Retrumplicans.

Evidenced by their refusal to accept defeat they stoop so low as to dredge up the old argument of popular vote.

What a ridiculous yarn. Even by that sieve of an argument, it could be said that they won 32% of the popular vote, and got rejected by 68% of the voters.

Accept your defeat, take responsibility for your action, name calling “Mad Max” etc is not dignified.

#209 crowdedelevatorfartz on 09.22.21 at 10:23 am

@#207 A quintillian crows a crowing.

“Even by that sieve of an argument, it could be said that they won 32% of the popular vote, and got rejected by 68% of the voters.”

++++
The lowest voter turn out in decades….

Are you talking about the Liberals winning by 32% of the vote and rejected by 68% …….or the Cons?

Trudonians from the Planet Trudonia shouldnt be too smug.

Your fearless leader will be watching his back.

Will Freeland be the first to thrust the knife in?
Or will it be someone more “progressive”?
Time and the Ides of March will tell.

#210 Dharma Bum on 09.22.21 at 10:27 am

#190 Calguy

People in the GTA need to explain why they voted for the Liberals.
————————————————————————————

Easy.

Handouts.

GTA people are takers. Yuppies, SJWs, flakes, welfare snorflers, woke jerks, lefties, pinkos, commies, artsies, virtue signallers, gender benders, wannabes, and debt pigs. They live in the fantasy bubble that is the GTA and they believe that sox-boy can keep the ride going.

My riding is true blue, but surrounded by a sea of red.

Send help.

https://www.macleans.ca/news/canadian-federal-election-2021-live-results-map/

#211 Cto on 09.22.21 at 10:27 am

190 calguy on 09.21.21 at 11:23 pm
“People in the GTA need to explain why they voted for the Liberals. I just don’t get it”

The GTA has changed a lot since the start of global economy.
There is no factories or quality industries left in Southern Ontario that at one time paid middle class wages.
Many younger families ( 25-40) today are living their lifestyle driving beamers and Lexus care of house/condo appreciation.
The only thriving industry left in Toronto is Residential housing/condo construction, finance and sales, rent.
Trudeau promised to deliver a plan to sustain this through immigration via YYC. Immigrants coming through that port of entry never stray too far from YYC. Recent home/condo owners in T.O are attracted to his plan to ever sustain their life styles.
That’s it……….

#212 Dharma Bum on 09.22.21 at 10:41 am

#170 Michael In North Pork

The bad part is that they will take “their” money back, in the form of higher user fees and lower dividends.
————————————————————————————

I hope they double up on the user fees while increasing th dividends. Shareholders need their rewards. The share price must be protected.

Shareholders are the priority.

Own the banks.

#213 Faron on 09.22.21 at 10:49 am

#180 IHCTD9 on 09.21.21 at 10:20 pm
#140 yvr_lurker on 09.21.21 at 7:16 pm

When the right wing echo the Fraser Institute Refrain that 40% of the workforce pay no net taxes…

——.

Hell, there was a time when I barely paid any net taxes even. Not hard to believe at all

BS, you paid HST/GST/PST. Low marginal rates for low income people is needed to make up for steep, nonprogressive taxes like sales tax. And increasing these taxes should be a non starter.

Go look up the marginal rates in the past. Peak rates were way way higher as recently as a few decades ago. Guess what? Middle and low income prosperity was way higher then too. Social programs weren’t as starved for funds.

If you have enough to have maxed your legal shelters, cap gains inclusion should be 100%.

#214 Dharma Bum on 09.22.21 at 10:50 am

#206 Abc123

So why should we invest in financial assets at all then ?

Seem like a Canadian is far better served owning as much RE as he can.
——————————————————————————–

The 2 are not mutually exclusive.

Yes, owning a lot of real estate is a great thing. A good amount of solid capital appreciating assets provides a substantial financial foundation for individuals and families, no doubt.

However, one needs income and liquidity as well. Those features are provided by financial assets.

Taxation notwithstanding, financial assets still provide tremendous growth, income, and the ability to maneuver quickly (i.e., liquidity) should the need or the opportunity arise.

Real estate is just one part of a diversified financial portfolio.

Have you read Garth’s blog?

#215 yvr_lurker on 09.22.21 at 10:57 am

#199 Jessica
——

Your argument was well thought out. Indeed, if they increase the cap rate, people still do need ways to self-fund their retirement effectively. What I don’t want to see is that the bulk of the Covid bill gets slammed onto ever increasing higher marginal rates starting at relatively low income levels. As then, the incentive to be more “creative” with side jobs for us AAA types becomes large.

#216 Bdwy on 09.22.21 at 11:29 am

Seriously, someone please give me the good arguments for <100% inclusion without coming off as simply greedy. It's income. Get over it.

……….
When you can go to work for 8 hours and possibly be charged for it, instead of being paid, is when cap gains equal employment income. What risk of loss is there in employment income?

#217 KLNR on 09.22.21 at 12:18 pm

@#209 Dharma Bum on 09.22.21 at 10:27 am
#190 Calguy

People in the GTA need to explain why they voted for the Liberals.
————————————————————————————

Easy.

Handouts.

GTA people are takers. Yuppies, SJWs, flakes, welfare snorflers, woke jerks, lefties, pinkos, commies, artsies, virtue signallers, gender benders, wannabes, and debt pigs. They live in the fantasy bubble that is the GTA and they believe that sox-boy can keep the ride going.

My riding is true blue, but surrounded by a sea of red.

Send help.

https://www.macleans.ca/news/canadian-federal-election-2021-live-results-map/

hyperbole with a heavy dollop of generalization right here.

#218 KLNR on 09.22.21 at 12:20 pm

@#205 Mr Canada on 09.22.21 at 8:54 am
We have become a country of mediocrity.

Always were. – Garth

oh boy it’s getting dark in here.
step back from the ledge people.

#219 KLNR on 09.22.21 at 12:28 pm

@#201 Brian on 09.22.21 at 8:24 am
Perhaps the Conservative Party of Canada will take note of what took place and might even attempt being … conservative for the next election.

Then the party would be a powerless rump until it realized that to be elected in Canada you must be centrist. Once the pandemic is gone the anti-vax PPC will vanish. In fact, it already is. Meanwhile people who voted for Bernier got Trudeau, as this blog forecast. – Garth

How well did that centrist campaign work out for you? O’Toole sealed his fate when he went against his own leadership campaign pledges! He went left of his own pledges at the leadership convection. He alienated the party’s base much like Doug Ford in Ontario!

Knuckledragging anti-vaxers are not the Conservative base. Just the noisy part. Most Canadians want social progress and yet fiscal prudence. If the goal of politics is power (and there is no other), the party must reflect the electorate, not try to refashion society into its own vision of what should be. The Taliban are good at that, apparently. They won’t last, either. – Garth

o’tool lost it when he tied his wagon to Kenney in regards to dealing with COVID.

If the PCP needs to move forward not backwards if they have any hope at governing.

#220 Palpha on 09.22.21 at 4:56 pm

https://torontosun.com/news/election-2021/liberal-calgary-mp-allegedly-caught-on-camera-nicking-opponents-flyer
The dude has talent. He’s only been on the job 24 hours. I see a future for him in cabinet. Minister of finance or middle class prosperity ?

#221 Tony on 09.22.21 at 7:37 pm

Don’t worry, if they get rid of the conservatives in Alberta and vote in a NDP Notley like type candidate, they will be just like when Ontario voted for Bob Rae, Bob Rae go away. A full time disaster. They will be living in dire poverty and they forget when the NDP was in Alberta how bad it got.

You want $20+ minimum wage, high taxes, government intervention and business failures, high regulation and business interference, high debts, deficits, credit downgrades and much higher interest rates, debt and interest payments, high payroll and other job killing taxes, high energy costs, prices choking the economy, high crime and drug rates, much higher poverty rates, high unemployment, much higher suicide rates etc. Good luck living in dire poverty.

#222 Gretchen on 09.23.21 at 11:56 am

If they are going to make capital gains 100% taxable or a 100% inclusion rate, they should get rid of a minimum annual withdrawal for RRIF’s and no minimum age for RRIF’s. This would allow people to save more in their RRSP’s and take it out when they choose not be hostage to higher taxes every year. TFSA’s annual contributions should be increased to $10,000+inflation or $11,000 now.

Also, any withdrawals of RRSP’s, RRIF’s and RRSP’s and RRIF’s upon death of a non spouse should not be taxed at not more than a maximum income tax rate of 30%. By the way, may decades ago there was an individual capital gains exemption of $100,000 in Canada with non primary residence assets, investments. They got rid of it many years ago so they already gutted many Canadians retirement, savings, investments.

In 1995, $100,000 at 6.4% a year compounded for 26 years would be worth $501,000 today. The $401,000 capital gain or net capital gain 50% of that $200,500*55% highest tax rate in Canada is $110,275 in extra income taxes. Guess what, Jean Chretien, Paul Martin, Liberal party did that.