Trudeau Is Going To Bury Us In Debt

[Dixie Cup]

At first I had quite a bit of respect for Freeland, but I'm starting to notice she can be a bit of a Drama Queen and I don't see her ever disagreeing with Justin! She should be replaced, I think.

If you've ever watched her when Trudeau speaks, she nods her head like a "bobble head" - it's actually quite funny to watch her.

 

[pgs]

It's short-sighted to simply say "stop spending" without some reference as to where cuts could and should be made. There is also the potential to offset some spending by increasing revenues, there's money to had from from places where people have way more than they need. Yes, I'm taling about the corporate sector and the ultra rich. In the last fifty years, since the onset of neo-liberal economics, taxes on high-end earners both private and corporate have steadily dropped, often with the excuse of "trickle down economics" which has proven to be a myth. In Canada the top one percent control 25% of the nations wealth, whereas the bottom forty percent control 1.1%. You think there isn't room for a little re-balancing there ?

What percentage of the countries income tax come from this mythical 1% ? And who is this bottom 40% ? Why are so many driving cars , watching 50 inch color TVs and eating in restaurants if they are so broke ?
Have you ever heard of upward mobility ? Is it possible in Canada ?
Come Nick the biggest drain on a normal Canadians finances is the tax they pay to all levels of government .

 

[petros]

But but but...Corporations.

Does Nick know CRA and Fed legislation demands Corporations make a profit? This profit is disbursed as earnings per share or reinvested into company growth. There are no banks stuffed to the brim with Corporate savings.

 

[Nick Danger]

What percentage of the countries income tax come from this mythical 1% ? And who is this bottom 40% ? Why are so many driving cars , watching 50 inch color TVs and eating in restaurants if they are so broke ?

Good questions. When you have the answers bring it back to the table.

Have you ever heard of upward mobility ? Is it possible in Canada ?
Come Nick the biggest drain on a normal Canadians finances is the tax they pay to all levels of government .

"Upward Mobility" is a nice thought, but not as widely available as it once was. Cost of post secondary education has skyrocketed. The reality of it is that middle class income has remained stagnant or actually dropped for the majority over the past forty years, failing to keep pace with the cost of living, while the share of wealth controlled by those at the top has steadily grown. How much tax is paid by those at the top? Not enough.

 

[JLM]

You said you had the hots for her??

Not overtly! Maybe back when she and I were in our youth!

 

[JLM]

What percentage of the countries income tax come from this mythical 1% ? And who is this bottom 40% ? Why are so many driving cars , watching 50 inch color TVs and eating in restaurants if they are so broke ?
Have you ever heard of upward mobility ? Is it possible in Canada ?
Come Nick the biggest drain on a normal Canadians finances is the tax they pay to all levels of government.

 

[petros]

Good questions. When you have the answers bring it back to the table.

"Upward Mobility" is a nice thought, but not as widely available as it once was. Cost of post secondary education has skyrocketed. The reality of it is that middle class income has remained stagnant or actually dropped for the majority over the past forty years, failing to keep pace with the cost of living, while the share of wealth controlled by those at the top has steadily grown. How much tax is paid by those at the top? Not enough.

There is no longer a "baby boom",and unfettered growth of industry with millions moving from farm life to urban life.

It's over. Middle Class is a myth.

 

[JLM]

What percentage of the countries income tax come from this mythical 1% ? And who is this bottom 40% ? Why are so many driving cars , watching 50 inch color TVs and eating in restaurants if they are so broke ?
Have you ever heard of upward mobility ? Is it possible in Canada ?
Come Nick the biggest drain on a normal Canadians finances is the tax they pay to all levels of government .

How do you think many of the homeless started out? Ans. Spending money they don't have!

 

[pgs]

Good questions. When you have the answers bring it back to the table.

"Upward Mobility" is a nice thought, but not as widely available as it once was. Cost of post secondary education has skyrocketed. The reality of it is that middle class income has remained stagnant or actually dropped for the majority over the past forty years, failing to keep pace with the cost of living, while the share of wealth controlled by those at the top has steadily grown. How much tax is paid by those at the top? Not enough.

You really don’t see how wealthy our society is despite the best efforts of our governments taxing fifty percent of our labor we have the richest civilization ever , if it doesn’t work for you , blame yourself . It is not the XYZ Corporations fault .
Here I am sitting on my front porch counting the parked cars on my street . GMC 4x4 , Grand Cherokee , Honda CRV ,Ram 4x4 ,Mazda3 . Going back up , Lexus, BMW , Ford 4x4 Cadillac , Mazda 3 , Volkswagon , Jeep and Chrysler .
We are so poor .

 

[pgs]

How do you think many of the homeless started out? Ans. Spending money they don't have!

Doing drugs they can’t afford .

 

[JLM]

Doing drugs they can’t afford .

That too!

Doing drugs they can’t afford .

 

[Dixie Cup]

Good questions. When you have the answers bring it back to the table.

"Upward Mobility" is a nice thought, but not as widely available as it once was. Cost of post secondary education has skyrocketed. The reality of it is that middle class income has remained stagnant or actually dropped for the majority over the past forty years, failing to keep pace with the cost of living, while the share of wealth controlled by those at the top has steadily grown. How much tax is paid by those at the top? Not enough.

Well, I dunno - my boss showed me cheques he was issuing to pay for the various taxes and they were for thousands & thousands of dollars for: property tax, payroll tax (of which he contributes to as well), income tax (it was year-end), GST - I was amazed at how much each cheque was for. So, to say "corporations" don't pay any tax is misleading - maybe the Major Corporations can defer taxes but smaller corporations cannot because most small corporations are individuals.

 

[petros]

Well, I dunno - my boss showed me cheques he was issuing to pay for the various taxes and they were for thousands & thousands of dollars for: property tax, payroll tax (of which he contributes to as well), income tax (it was year-end), GST - I was amazed at how much each cheque was for. So, to say "corporations" don't pay any tax is misleading - maybe the Major Corporations can defer taxes but smaller corporations cannot because most small corporations are individuals.

I doubt he's seen a T2 form or knows what a CCA is.

 

[pgs]

I doubt he's seen a T2 form or knows what a CCA is.

That’s why we have accountants and such , I do the plumbing they do the taxes .

 

[Dixie Cup]

That’s why we have accountants and such , I do the plumbing they do the taxes .

As long as your accountant is reliable and honest, that's the best way to go. Can't tell you how many people had to declare bankruptcy because the "accountants" ran off with their money - silly fools gave signing authority to them which is a major no-no!!

 

[petros]

I may be eccentric but I keep my receipts. - Maria Bamford

 

[pgs]

As long as your accountant is reliable and honest, that's the best way to go. Can't tell you how many people had to declare bankruptcy because the "accountants" ran off with their money - silly fools gave signing authority to them which is a major no-no!!

No signing authority .

 

[taxme]

Not too long ago flossy was proclaiming that debt doesn't matter. I guess when you live in your parent's basement it doesn't matter.

The only way to save Canada from a further Marxist like takeover in Canada is to have that dictator in Ottawa arrested and charged with crimes against Canadians, crimes committed against the Charter of Rights and Freedoms, and especially crimes against humanity. Nothing less will do.

Btw, whatever happened to the Charter of Rights and Freedoms in Canada anyway? Has it been torn to shreds and burned in some dumpster by those Marxists dictators in Ottawa? It would appear as though the COR has no relevance anymore as to what is going on in Canada today.

Our dear Marxist political so called leaders can violate the charter at any time that they want too, and get away with it. I thought that the COR was created to protect and prevent our rights and freedoms from being taken away from Canadians, and not created to take away Canadians rights and freedoms.

Is there something wrong with this painting here? It sure dam well looks like it to me. What say you?

 

[Rosebud]

A shocking new report quietly released by the federal government admits that their finances could collapse in the coming decades if politicians don’t make responsible choices.
Two days before Christmas, when most politicians and their staffers had long left their offices for the holiday break, the finance department released — without fanfare or wide notice — a surprising update on long-term economic and fiscal projections.
The report warns that lower than expected growth combined with higher program spending “would be sufficient to put at risk the fiscal sustainability of the federal government.”
Ian Lee, who teaches at the Sprott School of Business at Carleton University, says Canadians should certainly be worried about these numbers.
“I’m old enough to remember when Pierre Elliott Trudeau first took us into deficits, which were much smaller ones than they are today,” Lee told the Toronto Sun in a telephone interview. “Everybody back then said ‘What’s the big deal?’ But the problem is that debt started to snowball and get out of control. It’s so difficult for politicians to say no and to make hard, difficult choices.”
The forecast also assumes that the budget won’t be balanced until 2055. Projections show it peaking at $38.8 billion in 2035.
This goes against a key Liberal campaign promise.
During the 2015 election, Justin Trudeau pledged to balance the budget before the next election, in 2019. Yet, in the fall fiscal update announced this past November, Trudeau’s Liberal government pushed the goal posts back and projected deficits until 2021 and beyond.
These new assumptions from the finance department now call all of the Liberal government’s numbers into question.
This is not the only alarming figure revealed.
Another key fiscal promise of the prime minister’s campaign was to bring down the debt-to-GDP ratio to 27% by 2019. Yet the finance report also places this accomplishment out of reach.
It instead projects the debt ratio consistently hovering around 31% for the next few years, then dropping to 30.4% by 2021.
Federal debt is also assumed to cross the $1 trillion mark around 2031. It is currently $635 billion.


Buried government report reveals looming fiscal crisis
•Returning to surplus
Trudeau’s campaign promise: 2019
Finance department’s forecast: 2055
•Reducing the debt ratio
Trudeau’s campaign promise: down to 27% by 2019
Finance department’s forecast: still up at 30.4% by 2021
•Still not balancing itself
“The commitment needs to be a commitment to grow the economy and the budget will balance itself.”
— Liberal leader Justin Trudeau, 2014
•Gloomy future
“I don’t think it’s going to end well.”
— Ian Lee, Carleton University
•Federal debt projections
-2017: $635 billion
-2021: $746 billion
-2030: $992 billion
-2045: $1.5 trillion

I think it's safe to say budgets do not, in fact, balance themselves as our inept leader would have us believe. Trudeau is not just incompetent, it appears he's actually a serious threat to the future fiscal welfare of our country.

First thing any prime minister would do on day 1 is to check to determine what could threaten his nation. Expenses always go here first. These enemies could be in the form of potential viruses, or the threatening two legged variety. These being kooks` of other nations, especially those who carry silo keys around their necks. The first case would be to ensure labs and hospitals could carry the extra burden of an epidemic if it should happen, and also to develop a curiosity to learn why other nations are walking around with masks on for the past 2 years. The second priority to keep the defenses of the nation up to modern standards and to pass a law that defense monies never get diverted to other interests unless of a defense nature regardless. This would be an entrenched law aCanadian essential norm, no notwithstanding clauses. No more bad decisions of the past. Interceptors we build are our own and Canadians have proved we can build strait off the assembly line, expert, best quality arms for our safety. Nuclear weapons get to be produced here also. I know, I don't like the idea either.

Right now, we have a PM in other places except here. Not a good idea given where we're at now in global politics. Allocate. Send our defense reps instead. They need the diplomatic exposure and political practice. The PM allots 80 billion for defense. But now is not the time to start a spending on a new defense system. We need to train our guys on the new fighters now. No more Avro embarrassments. We fly what we make and put them to test with the yearly war games with our friendly neighbours. We need to have permanent people in our "contested" waters and shores.

Anyway, we have all the fuel we need for Canada now, and jobs and pensions for our young families. Not necessary for fracking either. We will need to plant crops and farm for our own people now here and start nation wide greenhouses now for the coming food crises. We need to start producing for ourselves. When asked by other nations to do the impossible, we showed them we can surpass their needs. Lets make this crisis a starting point for the future. Our natural resources stay here for us and our neighbors. So we can now repeat what one PM quoted, to the question "what will you do in this crises"?. "What can Canada do in this global crises" the answer being "Just watch Us".

 

[Nick Danger]

You really don’t see how wealthy our society is despite the best efforts of our governments taxing fifty percent of our labor we have the richest civilization ever , if it doesn’t work for you , blame yourself . It is not the XYZ Corporations fault .
Here I am sitting on my front porch counting the parked cars on my street . GMC 4x4 , Grand Cherokee , Honda CRV ,Ram 4x4 ,Mazda3 . Going back up , Lexus, BMW , Ford 4x4 Cadillac , Mazda 3 , Volkswagon , Jeep and Chrysler .
We are so poor .

There are mountains of information available on the costs of ignoring wealth inequality and I'd be happy to point you and some others here in the right direction to learn more about it, but seriously I fear an important ingredient is missing from the mix here, that being an open mind. Looking off your porch counting cars in what is likely not a neighbourhood where people are struggling to make ends meet is a limited view at best. Yes, we in Canada are more fortunate than a lot, but that doesn't mean there's no room for improvement, and that mean improvement for all, not just a few.