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Anyone worried that their pension saving are going to be taxed out of existence because of this? And how did Turkey make money???


20754
 

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Maybe a bit overtly through increased taxation. But more likely the bulk of loss will come in the form of inflation being higher than planned for.
 

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Sorry, this graph doesn't actually say much.
It would be really easy to hike up the tax rate and make things look better.

I do think that the Trudeau Liberals have been reckless, but this graph does a poor job of communicating that.
 

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Anyone worried that their pension saving are going to be taxed out of existence because of this? And how did Turkey make money???


View attachment 20754
Trudeau had to be paid off, no one in their right mind would build internment camps. Trudeau is intentionally destroying the middle class to try & bring the great reset to Canada. I do think it is prudent to get your money out of Canada. The psychopaths dictators are drunk on power tripping. If you are not good @ being a good puppet they are taking your money. The trend is to get worse & history has shown the psychopaths will not reason & the only way this will be resolved is with blood & the streets.
 

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Sorry, this graph doesn't actually say much.
It would be really easy to hike up the tax rate and make things look better.

I do think that the Trudeau Liberals have been reckless, but this graph does a poor job of communicating that.
Not so easy, The rich will just leave. Can only hike taxes so much then those doing the hiking are going to be hung in the streets.
 

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No, not worried. Not happy about the deficit but on the other hand people need a helping hand.
Same thought from me. This is like a war time situation and large deficit spending seems like the right move in current circumstances.

Remember the huge deficits Harper ran before and after 2008? The Conservatives actually ran a deficit before the crisis hit, and it it became a much larger deficit after the crisis. Well this economic contraction is far worse. It pretty much registers off the scales, far worse than the GDP contraction of 2008 and I believe it's the worst in recorded history, or heading in that direction.

Thankfully we don't have Harper (or someone like him) at the helm right now. Liberals are the right people to handle this kind of budget. Conservatives have a terrible fiscal track record and just are not a fiscally prudent. You people whining about Trudeau should look at some history:

To begin with, here's an interesting question: How many Conservative Prime Ministers in all of the 20th century presented Canada with balanced budgets?

Answer: Only one! It was Robert Borden in 1912. Like Mr. Harper, he inherited a surplus from his Liberal predecessor (Wilfrid Laurier) and, again like Mr. Harper, it was quickly gone.
 

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Think about the fact that 20% of the total economic activity of the entire country was Government borrowing.
That's likely just federal.
What about provinces, cities, authorities, crown corporations etc?
 

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The graph shows that most of the deficit is discretionary spending for the pandemic, and Canada's systemic deficit is in line with other countries.

It should also be noted that all the countries on the graph have systemic deficits.

The graph also doesn't show the other side of the ledger which is the growth of assets and wealth as a counter balance to the deficit.

It is like owning a $1 million dollar home and a $1 million dollar cottage and obsessing about the $500,000 mortgage debt.

As long as the debt can be easily serviced, which in Canada it is less now than it was before the pandemic spending............there is no looming crisis.

The Trudeau government was wise to refinance the debt into longer terms and lower interest rates, to bring the servicing costs lower.

The pandemic spending was also passed unanimously by the Parliament. The Liberals know what they are doing.
 

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With historic low interest rates, and the need for employment stimulus, now is the perfect time to increase spending on badly needed infrastructure.

It will never be less costly to build hospitals, schools, nursing homes, roads, bridges, affordable housing, water treatment plants.......etc, than it is today.

As the farmers say.......make hay while the sun shines.
 

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As long as the debt can be easily serviced, which in Canada it is less now than it was before the pandemic spending............there is no looming crisis.
Actually, overextending yourself while saying "but I can afford the payments" is the crisis.

We're taking on generational level debt, what happens when we get our next crisis in 10 years or so?
To top it off, they're looking at crazy economically destructive ideas like UBI, and massive government daycare program, which will only serve the wealthy with good stable jobs.

I do think we need a better pharmacare plan, but I'm afraid that government dental will destroy that system.
 

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We have been here before. The Mulroney mess left us with huge debt, huge deficit, and a CPP mess. It took time but Paul Martin is credited with turning this around.

We in Canada have the ability to generate money. Our economy is basically strong and we will recover quickly.

The Government is in a very difficult position. It is exceedingly easy to criticize either the amount of assistance, the nature of it it, or indeed the rollout.

We are not ready for an election. The Conservatives certainly do not want one. The latest polls are not in their favour. They have not had time to define Erin O'Toole in the minds of the voters. The Opposition can make claim after claim secure in the knowledge that they are in no danger of actually forming a Government at the moment.
 

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Trudeau is spending unwisely and refuses any scrutiny. If there was no unethical spending, why not let Canadians know how well he is spending our money? He is as transparent as Trump on matters of money. Trust me does not work in politics.
 

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The Conservatives did in fact support the spending bills.

Bottom line for me is that both parties are similar. They will do anything to get elected and stay elected. I certainly do not think that the Liberals are black hats and the Conservatives are white hats.

They are both very cloudy, muddy, grey hats. Nor do I believe that punted either party when they are in power will greatly alter our democracy or our economy.

People have very unrealistic expectations. As an example, Stephen Harper said quite clearly in three elections that he was not in favour of changing the abortion legislation or the gay marriage legislation (this would be relatively impossible). Yet, by the end of his third term there was a large number of social conservatives who were upset/disappointed with his Government for not doing exactly what he said he would not do. Go figure. Voters are a very fickle bunch prone to wild expectations.
 

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...

Bottom line for me is that both parties are similar. They will do anything to get elected and stay elected. I certainly do not think that the Liberals are black hats and the Conservatives are white hats.

They are both very cloudy, muddy, grey hats. Nor do I believe that punted either party when they are in power will greatly alter our democracy or our economy.
...
That captures quite nicely my reason for not voting since I was about age 25. Complete waste of time.
 

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Bottom line for me is that both parties are similar. They will do anything to get elected and stay elected. I certainly do not think that the Liberals are black hats and the Conservatives are white hats.
They are somewhat similar, but there are notable differences.

Conservatives are more committed to giving tax cuts / tax breaks which target the wealthy: things like cutting GST, income splitting, Canadian corporation tax loopholes. So you might call it "stimulus" if you want, but it flows to the wealthy while it runs up deficits. The Conservatives serve the interests of the rich, especially business owners.

The wealthy don't need that kind of extra help. Harper's aggressive cuts to the GST were bad for the country (but great for the rich). It hurt the country's finances very badly.

IMO the Conservatives are following the Republican playbook. When you hear them whipping up anti-Trudeau anger, pumping up western & rural pride, and encouraging xenophobes these are really just manipulative techniques to motivate poorer people to vote their way. That's required because you realistically can't get enough voters to actually support the interests of the rich, since the rich are a minority of the population. Republicans do the exact same thing.
 

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The Conservatives also show fake concern for oil & gas, fake concern for Albertans, fake concern about "scary immigration", and fake concern for Israel.

If Conservatives really cared about Alberta and O&G so much, Harper would have made dramatic changes during his his nearly 10 years in power. They did nothing!

It's all fake. The only real interest the Conservative have is helping wealthy business people and the rich. So while rural people and Albertans suffer, the Conservatives string them along, manipulating them and encouraging them to be angry.

And now when Conservatives whine about deficit spending, this is all fake as well. They would happily run up even larger deficits while giving some big handouts to the rich. At least the Liberal+NDP partnership will do this more equitably.

It's a successful tactic, as the Republicans have been doing this for 30-40 years and poor people seem to never catch on.
 
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