Corporations Ripping Off Alberta

[Bar Sinister]

I'm putting this thread here because I see it as something affecting all of Canada, not just Alberta. It concerns an article by Kevin Taft which analyzes public spending from 1989 to 2008 and then comparing it with the corporate wealth taken from Alberta during the same time period. A brief summary of his finding are as follows.

From 1989 to 2008:
spending on health care rose 37 per cent
spending on schools rose six per cent
spending on social services fell 25 per cent
personal incomes rose 39 per cent
corporate profits climbed 314 per cent.

The last number is the significant one. In spite of continual claims by the right wing that government spending in Alberta is out of control, the figures indicate just the opposite. Far from being out of control government spending averaged an increase of only two percent per year, while corporate profits exploded.

It is a very good bet that much of the enormous increase in corporate profits was enjoyed by foreign owned transnationals which means that huge amounts of wealth were transferred out of the country. I am all in favour of companies in Canada making a decent profit, but wouldn't it be nice to be able to keep a little more of that profit in the country? I am a little tired of paying higher taxes in order that huge foreign businesses can reward their shareholders.

Public spending stayed flat as Alberta economy grew


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[Liberalman]

I am a little tired of paying higher taxes in order that huge foreign businesses can reward their shareholders.

If shareholders are making money then buy those shares to offset the higher taxes

 

[Socrates the Greek]

If shareholders are making money then buy those shares to offset the higher taxes

Sound advise...;-)

 

[Cliffy]

Why are Canadians investing in foreign companies instead of investing in Canadian companies. If we are going to rape this country, why let foreigners do it and profit from it. Hell, we have to live with the aftermath, why don't we at least keep the lion's share of the spoils.

 

[relic]

What if it's because of the torys being really stupid,running things rarher badly ?

 

[Slim Chance]

The last number is the significant one. In spite of continual claims by the right wing that government spending in Alberta is out of control, the figures indicate just the opposite. Far from being out of control government spending averaged an increase of only two percent per year, while corporate profits exploded.

​

What does this mean?

Are you concerned that the private companies are making too much money or do you want more government spending?

It is a very good bet that much of the enormous increase in corporate profits was enjoyed by foreign owned transnationals which means that huge amounts of wealth were transferred out of the country. I am all in favour of companies in Canada making a decent profit, but wouldn't it be nice to be able to keep a little more of that profit in the country? I am a little tired of paying higher taxes in order that huge foreign businesses can reward their shareholders.

The oil business in Canada (which I'm guessing is what you are singling-out) pays a ton of cash into the kitty, especially when compared to any other sector.

If you want the share of profits, take a page from Liberalman's book and buy shares in these corporations.

 

[Liberalman]

Why are Canadians investing in foreign companies instead of investing in Canadian companies

It's all about ROI and which company pays good dividends.

 

[Cliffy]

What does this mean?

Are you concerned that the private companies are making too much money or do you want more government spending?


The oil business in Canada (which I'm guessing is what you are singling-out) pays a ton of cash into the kitty, especially when compared to any other sector.

Do the math. If government is pulling in all this cash from the huge profits from oil companies where is it going if it isn't being spent on public services like education?

Oh yes, and do cash in on that raping and pillaging before we can't breath the air or drink the water anymore. Just remember to spend it as fast as it comes in because it will do you no good when we are all dead.

 

[Spade]

Watching the court case over the thousands of ducks that die in the tar-sands tailing ponds, it is amusing to see how the industry lawyers have adopted a page or two from the NHL.
1. Big Oil: "If you find us guilty we'll shut the industry down."
NHL: "Kowtow or we'll move the franchise to a city which will accede to our demands."
2. Big Oil: "If you find us guilty over this, we will face similar charges on a daily basis."
NHL: "If we enforce the rules and call a penalty over that infraction, there would be players in the box every minute of the game."

 

[Cliffy]

Watching the court case over the thousands of ducks that die in the tar-sands tailing ponds, it is amusing to see how the industry lawyers have adopted a page or two from the NHL.
1. Big Oil: "If you find us guilty we'll shut the industry down."
NHL: "Kowtow or we'll move the franchise to a city which will accede to our demands."
2. Big Oil: "If you find us guilty over this, we will face similar charges on a daily basis."
NHL: "If we enforce the rules and call a penalty over that infraction, there would be players in the box every minute of the game."

Hi Spade. Hope you are having a great day. Your observations are bang on as usual.

 

[YukonJack]

Corporations Ripping Off Alberta


So, the only logical way for Albertans to stop that is voting New Democrat.

 

[gerryh]

just another example of the government kowtowing to american interests.

 

[Mowich]

What if it's because of the torys being really stupid,running things rarher badly ?

You are way off the mark with this statement, relic. If you want to blame someone, blame Canadians who won't or dont' invest in Canadian companies.

 

[Slim Chance]

Do the math. If government is pulling in all this cash from the huge profits from oil companies where is it going if it isn't being spent on public services like education?

Where do you think it's going?

Regardless, the government is going to spend someone's money, be it Joe taxpayer, corporations or going into debt.

Oh yes, and do cash in on that raping and pillaging before we can't breath the air or drink the water anymore. Just remember to spend it as fast as it comes in because it will do you no good when we are all dead.

My air/water is just fine, thanks.

Such that i know for the future, are we allowed to "harvest" anything from dear old mother-earth at all? If so, how much is the "just right" amount, and how much is too much?

 

[Cliffy]

Where do you think it's going?

Regardless, the government is going to spend someone's money, be it Joe taxpayer, corporations or going into debt.

My air/water is just fine, thanks.

Such that i know for the future, are we allowed to "harvest" anything from dear old mother-earth at all? If so, how much is the "just right" amount, and how much is too much?

Anything that endangers life and the support system of all living things is too much. There is nothing sustainable about present logging, mining or oil policies. It is all about getting as much profit as possible without consideration for future generations.

 

[Slim Chance]

Sustainability is a highly relative term

 

[SirJosephPorter]

Now why would Albertans care if companies are ripping off Alberta? If some poor welfare mother is cheating government for welfare money, you can be sure Albertans will be steaming mad about it and demand that government root out the welfare fraud. But worry about companies ripping off the government, worry about corporate welfare? Get real.

Alberta is a conservative country (both small 'c' and big 'C').

 

[Liberalman]

Alberta could have acted like the Saskatchewan government that was under NDP for the longest time who made corporations pay their fair share which resulted in negative population growth and a high jobless rate for years and no oil sands development but Alberta was smart they gave the corporations a favorable tax rate and the companies employed lots of Albertans at a higher wage which meant more money for the government at tax time.

 

[Spade]

Now why would Albertans care if companies are ripping off Alberta? If some poor welfare mother is cheating government for welfare money, you can be sure Albertans will be steaming mad about it and demand that government root out the welfare fraud. But worry about companies ripping off the government, worry about corporate welfare? Get real.

Alberta is a conservative country (both small 'c' and big 'C').

Have to admit there is a conservative fringe, just like Ontario. Pity!

 

[Bar Sinister]

If shareholders are making money then buy those shares to offset the higher taxes

Sound advise...;-)

What does this mean?

Are you concerned that the private companies are making too much money or do you want more government spending?


[/color]


The oil business in Canada (which I'm guessing is what you are singling-out) pays a ton of cash into the kitty, especially when compared to any other sector.

If you want the share of profits, take a page from Liberalman's book and buy shares in these corporations.

You three need to rethink your advice. Just how much money do you think the average Canadian has to invest considering that they have to pay the tax difference for these corporate bums?

What I am concerned about is that these huge corporations live off the infrastructure created by the average Canadian while amassing huge profits. Since most of these businesses are foreign owned most of the profits are sent out of the country with little or no benefit to Canadians.

And no, Slim, the oil industry in Canada does not pay a ton of cash into the kitty; at least not by international standards. I expect you do not know this, but Canada is one of the few nations in the world that does not demand a share of ownership in its oil industry. As a result the profits of oil companies operating in Canada are much greater than most other oil exporting nations. In fact some nations own 100% of their oil resources. Canada is unique in that it allows foreign corporations to come into the country, exploit the resources, and escape after paying little or nothing in the way of taxes. Small wonder that oil companies operating in Canada frequently post record profits.

Record profits for big oil companies