Just the interest on government debt now equals $7,000 a year for a Canadian family o


Durry
#2
You can thank your buddy Trudeau for most of this debt.

The others that should be thanked are the Millennials, they are totally ignorant when it comes to finances
 
Angstrom
No Party Affiliation
#3
Sunny ways
 
White_Unifier
#4
"Perhaps most telling of all, if we were to distribute the total annual cost of servicing Canada’s government debt equally, each Canadian’s share would be $1,752. That’s more than $7,000 for a family of four. Clearly, there’s a cost to government debt."
 
Angstrom
No Party Affiliation
#5
Quote: Originally Posted by White_UnifierView Post

"Perhaps most telling of all, if we were to distribute the total annual cost of servicing Canada’s government debt equally, each Canadian’s share would be $1,752. That’s more than $7,000 for a family of four. Clearly, there’s a cost to government debt."

Not for mentalflake
 
White_Unifier
#6
Quote: Originally Posted by AngstromView Post

Sunny ways

Notice the year:

"For context, first consider the more than half-a-trillion-dollar increase in government debt since 2007/08, when government debt in Canada started to climb. The federal government alone has added $211 billion in new debt. Throw in the $315 billion in new debt collectively added by the provinces and Canada’s federal-provincial debt now totals $1.4 trillion. Based on the latest budget plans of the federal and provincial governments, debt is set to soar even higher in the future."

Trudeau is just like Harper, only worse.

This doesn't help either:

forums.canadiancontent.net/ca...684b-bill.html (external - login to view)
 
Durry
#7
Canada was relatively debt free until old Man Trudeau got elected and started feeding Quebec with money.
Ever since then Canada has never been able to get otta debt, it's always hovered around a half trillion dollars.

Unfornately we can now see that AB is heading down a similar path.
It was a debt free province and now with the NDP, they will soon set a trend that will keep AB in debt, probably forever.
 
mentalfloss
#8
Haven't felt a penny.
 
White_Unifier
#9
Quote: Originally Posted by mentalflossView Post

Haven't felt a penny.

What do you mean?
 
Durry
#10
Debt would be fine if it was an investment in the country, i.e. spend $1 billion, it generates revenue, after 3 years it returns $1.3 billion. Unfortunately, it doesn't work that way with governments.

The thing that debt does for us, is that it reduces our quality and access to Health Care. The thing we need most.
 
White_Unifier
#11
Quote: Originally Posted by DurryView Post

Debt would be fine if it was an investment in the country, i.e. spend $1 billion, it generates revenue, after 3 years it returns $1.3 billion. Unfortunately, it doesn't work that way with governments.

The thing that debt does for us, is that it reduces our quality and access to Health Care. The thing we need most.

So where specifically would you propose cuts?

Me?

1. Official bilingualism. 2.4 billion a year.

2. The separate school system. I don't remember the cost for duplicate administration's but it was in the millions.

3. Daylight saving time. According to a US study, DST cost the US economy tens of millions yearly. Even if it cost Canada a fraction of that, it's still a cost.

4. Shift taxes to user oay. Sin taxes like tobacco and alcohol for example and carbon tax too.

5. Slash spending on unnecessary environmental programs. After all, high carbon taxes will let the market figure it out without government help.

5. Unilaterally drop tariffs. This will improve economies of scale. Yes it sacrifices badly-needed government revenue to pay the debt, but efficient businesses can afford to pay taxes, inefficient businesses can't. Besides, sin and carbon taxes would compensate for that.

6. Reduce GST and income tax. Again, sin taxes and carbon taxes would make up the losses. Besides, businesses need money to invest in green energy.

7. Cut all corporate subsidies.

8. Replace an obligatory minimum wage with a recommended one below which a person could apply for social assistance and quit work without penalty. This way, if his employer offers him a more generous offer than social assistance can, he's not legislated out if work or forced to work under the table. This also means some will choose to keep their job until the first scheduled date for job training courses. This way the government can shift social assistance funding from financial support to skills training while worker can earn more until the training starts.

These are just some ideas.
 
pgs
Free Thinker
#12
Quote: Originally Posted by White_UnifierView Post

So where specifically would you propose cuts?

Me?

1. Official bilingualism. 2.4 billion a year.

2. The separate school system. I don't remember the cost for duplicate administration's but it was in the millions.

3. Daylight saving time. According to a US study, DST cost the US economy tens of millions yearly. Even if it cost Canada a fraction of that, it's still a cost.

4. Shift taxes to user oay. Sin taxes like tobacco and alcohol for example and carbon tax too.

5. Slash spending on unnecessary environmental programs. After all, high carbon taxes will let the market figure it out without government help.

5. Unilaterally drop tariffs. This will improve economies of scale. Yes it sacrifices badly-needed government revenue to pay the debt, but efficient businesses can afford to pay taxes, inefficient businesses can't. Besides, sin and carbon taxes would compensate for that.

6. Reduce GST and income tax. Again, sin taxes and carbon taxes would make up the losses. Besides, businesses need money to invest in green energy.

7. Cut all corporate subsidies.

8. Replace an obligatory minimum wage with a recommended one below which a person could apply for social assistance and quit work without penalty. This way, if his employer offers him a more generous offer than social assistance can, he's not legislated out if work or forced to work under the table. This also means some will choose to keep their job until the first scheduled date for job training courses. This way the government can shift social assistance funding from financial support to skills training while worker can earn more until the training starts.

These are just some ideas.

Mostly good but the schools and daylight savings are provincial responsibilities .
 
White_Unifier
#13
Quote: Originally Posted by pgsView Post

Mostly good but the schools and daylight savings are provincial responsibilities .

The article in the OP combines federal provincial and municipal debt. It all comes down on the same taxpayer in the end.

Also, I recognize how fiscal conservatives might be loath to support tax reductions in the face of massive government debt. But if we make it a tax shift and not tax reductions as such, that assuages those fears. You don't want to pay the sin tax? Don't buy lottery tickets!
 
Durry
#14
Quote: Originally Posted by White_UnifierView Post

So where specifically would you propose cuts?

Me?

1. Official bilingualism. 2.4 billion a year.

2. The separate school system. I don't remember the cost for duplicate administration's but it was in the millions.

3. Daylight saving time. According to a US study, DST cost the US economy tens of millions yearly. Even if it cost Canada a fraction of that, it's still a cost.

4. Shift taxes to user oay. Sin taxes like tobacco and alcohol for example and carbon tax too.

5. Slash spending on unnecessary environmental programs. After all, high carbon taxes will let the market figure it out without government help.

5. Unilaterally drop tariffs. This will improve economies of scale. Yes it sacrifices badly-needed government revenue to pay the debt, but efficient businesses can afford to pay taxes, inefficient businesses can't. Besides, sin and carbon taxes would compensate for that.

6. Reduce GST and income tax. Again, sin taxes and carbon taxes would make up the losses. Besides, businesses need money to invest in green energy.

7. Cut all corporate subsidies.

8. Replace an obligatory minimum wage with a recommended one below which a person could apply for social assistance and quit work without penalty. This way, if his employer offers him a more generous offer than social assistance can, he's not legislated out if work or forced to work under the table. This also means some will choose to keep their job until the first scheduled date for job training courses. This way the government can shift social assistance funding from financial support to skills training while worker can earn more until the training starts.

These are just some ideas.

A good start.
The most important thing is to realize discussions have to take place to reduce debt. This is the first step.
Once the mindset is set in place and correct, the rest will fall into place.
 
White_Unifier
#15
Instead if pointing fingers to this PM or that PM or this political party or that, why not make concrete proposals that politicians of any stripe should support?

Also, scrapping supply-management could make food more affordable for the poor.

Quote: Originally Posted by DurryView Post

A good start.
The most important thing is to realize discussions have to take place to reduce debt. This is the first step.
Once the mindset is set in place and correct, the rest will fall into place.

What concrete proposals do you have?

By the way, you just supported a carbon tax proposal. Are you feeling okay?

The CRTC also hurts minority-language programming. Streamline it and scrap Canadian content and foreign investment rules. Let foreign money in.
 
Durry
#16
Quote: Originally Posted by White_UnifierView Post

Instead if pointing fingers to this PM or that PM or this political party or that, why not make concrete proposals that politicians of any stripe should support?

Also, scrapping supply-management could make food more affordable for the poor.



What concrete proposals do you have?

By the way, you just supported a carbon tax proposal. Are you feeling okay?

You are misreading my posts again, I didn't agree to anything, I said it was a good start,,for discussions.

Someone always has to take the lead, that's why we elect people to do this.
 
White_Unifier
#17
Quote: Originally Posted by DurryView Post

You are misreading my posts again, I didn't agree to anything, I said it was a good start,,for discussions.

Someone always has to take the lead, that's why we elect people to do this.

Okay, so what solution do you propose or do you just expect politicians to do the proposing for you?
 
pgs
Free Thinker
#18
Quote: Originally Posted by White_UnifierView Post

The article in the OP combines federal provincial and municipal debt. It all comes down on the same taxpayer in the end.

Also, I recognize how fiscal conservatives might be loath to support tax reductions in the face of massive government debt. But if we make it a tax shift and not tax reductions as such, that assuages those fears. You don't want to pay the sin tax? Don't buy lottery tickets!

I don't .
 
Durry
#19
Quote: Originally Posted by White_UnifierView Post

Okay, so what solution do you propose or do you just expect politicians to do the proposing for you?

The first step is always getting a leader with good business acumen.

The country should be run like a business.
 
pgs
Free Thinker
+1
#20  Top Rated Post
Quote: Originally Posted by White_UnifierView Post

Okay, so what solution do you propose or do you just expect politicians to do the proposing for you?

No the bureaucrats make the decisions , the politicals just sell the decision .
 
petros
#21
Big business and Govt are ran the same way with elections in upper management with the work being done by hired help.

Difference though is business doesn't have to worry about social supports.

If the country were ran like a true business things like setting up tents to babysit junkies while shoot up on dope that is lethal like never before would never exist.

The junkies would be left to die and the demand for the illicit dope dies with them.

No "crisis".
Last edited by petros; Mar 11th, 2017 at 10:09 AM..
 

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