"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."
Sunny ways
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.
Mostly good but the schools and daylight savings are provincial responsibilities .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 .
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.
You are misreading my posts again, I didn't agree to anything, I said it was a good start,,for discussions.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.
I don't .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!
The first step is always getting a leader with good business acumen.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 .Okay, so what solution do you propose or do you just expect politicians to do the proposing for you?