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I like your thinking PG.

Lower the OAS clawback level to fund the GBI. Keep those good ideas coming !
But wait, this is a program you were touting a moment ago as something to be proud of as a monument to the beauty of socialism. Please don't tell me you don't support this wasteful program any more? Or have you found a new and innovative way to waste money?

ltr
 

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I've always though OAS was a wasteful program.... it's mostly just a type of welfare (but don't call it welfare) for middle class seniors who probably own million dollar homes.

It looks like the GBI would probably replace all other types of welfare... seniors welfare shouldn't be excepted.
 

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Maybe that could have been a good way to go but I'm still not convinced, because the people who really need CERB are the ones who are not going to be able to repay loans.

Many of us writing here are reasonably well off. Personally I only saw a small reduction in my income... I've been very lucky. There are many people who are absolutely screwed in the current situation. They were living paycheque to paycheque, working in the service industry. Or people working in travel, leisure, airports & airlines.

This is an extremely bad situation for many people. They truly are going to need large cash handouts NOW otherwise they are going to default on everything, get evicted, end up on welfare, on the street, and at food banks. They are already at the food banks.

Those people hit very hard can't repay loans. They will be lucky if they don't declare bankruptcy through this whole thing. I don't like the idea of giving loans to people who had job losses in the COVID situation.
I don’t personally have a lot of sympathy for people like this. There is no law that says they can’t invest money, buy stocks, real estate or run their own business. The only thing holding most people back is self generated fear. I spend a lot of time mentoring people on investing, even my bank manager, mostly younger friends of my kids who need a real education which will help them to survive in this world. Ironically they are more willing to take the plunge than older people with the means to invest in nearly everything.

maybe if we taught people the right stuff like reading, writing and math without a calculator as well as investing, we’d be better off As a society. Instead of teaching kids to decorate body bags like in Ontario. No wonder everyone lives in fear. Fortunately the guy who wrote one of the best books on investing in real estate has written a second book on general investing, real estate and running a business ( I was one of his proofreaders). Should be must reading for people.

i find it frightening that the government is hinting at ubi in the next thrown speech, and they predict it to cost 98B for only six months.
 

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I don’t personally have a lot of sympathy for people like this. There is no law that says they can’t invest money, buy stocks, real estate or run their own business. The only thing holding most people back is self generated fear.
Do you think it will lead to a better quality of life for you, if you leave these people out to starve?

maybe if we taught people the right stuff like reading, writing
. . .
we’d be better off As a society.
. . .
next thrown speech
Couldn't help but notice this As I red your post.
 

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I don’t need a better quality of life, I know how to make money. Unlike the “people left out to starve” despite being handed thousands did dollars each month. Would it make my life bette? Probably if I didn’t have to pay for them as well as my own family.
 

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If a lack of character caused poverty, a lot of wealthy people would be homeless and broke.
 

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Ive got monthly basic income, set up by my real estate holdings. As a bonus, I also get stock income and business income. If I need more, I can buy another piece of real estate. Its not hard to do, I’m not a brain surgeon, however I do use my brain which is unusual these Days
 

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Maybe that could have been a good way to go but I'm still not convinced, because the people who really need CERB are the ones who are not going to be able to repay loans.

Many of us writing here are reasonably well off. Personally I only saw a small reduction in my income... I've been very lucky. There are many people who are absolutely screwed in the current situation. They were living paycheque to paycheque, working in the service industry. Or people working in travel, leisure, airports & airlines.

This is an extremely bad situation for many people. They truly are going to need large cash handouts NOW otherwise they are going to default on everything, get evicted, end up on welfare, on the street, and at food banks. They are already at the food banks.

Those people hit very hard can't repay loans. They will be lucky if they don't declare bankruptcy through this whole thing. I don't like the idea of giving loans to people who had job losses in the COVID situation.
James, the money we're giving these folks is going to diminish the resources we can use later to help needy people. How many hundreds of billions should we be handing out, no strings attached
 

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The CERB is taxable income, so anyone earning more than their personal exemptions will pay tax on the amount they received.

The government could have said it was a loan, but how would Canadians have reacted to that ? I think they would have said the government was being nasty.

I like your thinking PG.

Lower the OAS clawback level to fund the GBI. Keep those good ideas coming !
On what planet is ab interest free loan nasty? You could always decline it. As it stands, there may be many recipients who took the cash despite not really needing it. That is all money we are taking away from future widows and orphans.
 

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An interest free loan could have had the best intentions, but the Loyal Opposition parties would have crucified the Liberals in the media.

All of the political parties, including the Conservatives were hollering and pounding the table for everyone to get CERB, without exception.

Some Conservative CMFers still complain about not getting "their fair" share of CERB.

Trudeau and Morneau avoided giving their critics the opportunity. If the polls are correct.......the Liberals made a wise decision.
 

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Discussion Starter #1,393
either way we’re still going to have to repay it.
 

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Many of my friends, who are incorporated IT contractors got 40k in the Canada Emergency Business Account (CEBA) program. They did not lose their income/contract. They bought under construction property in GTA and used that money towards deposit. All COVID related programs were misused by lot of people . My company reduced pay by 5% and stopped contributing to Retriement accounts but we are not eligible for any programs. I am really thanksful to god that I did not lose my job and my health is not effected
 

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An interest free loan could have had the best intentions, but the Loyal Opposition parties would have crucified the Liberals in the media.

All of the political parties, including the Conservatives were hollering and pounding the table for everyone to get CERB, without exception.

Some Conservative CMFers still complain about not getting "their fair" share of CERB.

Trudeau and Morneau avoided giving their critics the opportunity. If the polls are correct.......the Liberals made a wise decision.
Well they should have given money to everyone, or noone
Lots of people who needed help didn't get it, lots of people who didn't need help got the money.

The criteria for the mess of systems was totally arbitrary and didn't really make much sense.

The way they distributed the money was wholey unfair, which is not coincidentally why I don't think the government is good a distributing wealth fairly!
Heck they tried to give millions to the Keilburgers until they were caught!
 
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