Well, today is the Liberal/NDP Non-Coalition Coalition Budget Day!

Taxslave2

House Member
Aug 13, 2022
2,854
1,744
113
Excess profit tax? What would that be?
Sounds a lot like the dipper mantra of" the rich must pay their fair share. Businesses must pay their fair share of taxes." Without ever coming up with a number of what that fair share should be.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,563
8,279
113
Regina, Saskatchewan
If Trudeau does stick around until the next campaign, he wants it to be about all the goodies he’s promised Canadians but that the evil Polievre would want to take away.
 
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Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,563
8,279
113
Regina, Saskatchewan
“We are using every single tool in our toolbox,” said Freeland.

Hurrah, the Liberals have found the toolbox. “Our renewed focus today is unlocking the door to the middle class for millions of younger Canadians,” she added.

If the Liberals really wanted to help those young people they should have started eight years ago when they were still in elementary school.
 

pgs

Hall of Fame Member
Nov 29, 2008
26,755
7,051
113
B.C.
“We are using every single tool in our toolbox,” said Freeland.

Hurrah, the Liberals have found the toolbox. “Our renewed focus today is unlocking the door to the middle class for millions of younger Canadians,” she added.

If the Liberals really wanted to help those young people they should have started eight years ago when they were still in elementary school.
Making life affordable for the middle class and those trying to join it since 2015 .
 
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Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,563
8,279
113
Regina, Saskatchewan
Making life affordable for the middle class and those trying to join it since 2015 .
Heading into the third budget under the government’s current mandate, Justin Trudeau’s Liberals have been on a cross-country tour plugging a series of measures that will be included in the coming year’s spending plans.

Since late March, the Liberals have announced just over $37 billion in new spending and loans planned for the federal budget, according to a Global News analysis. Some of the Liberal announcements have spending spread out over multiple years (=onto the next govt to deal with), while other items come with little to no price tag attached.
 
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Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,563
8,279
113
Regina, Saskatchewan
In a Friday press release headlined simply “Canada’s Housing Plan,” the Prime Minister’s Office laid out a plan to “unlock 3.87 million new homes by 2031.”

“Canada can and will solve the housing crisis,” read an attached quote by Housing Minister Sean Fraser.

In the media, it was mostly treated as yet another Liberal housing pledge, similar to the week before when the PMO had launched a new “rental protection fund.”

“Federal government launches new housing strategy,” read CBC’s headline on the plan.

But what Ottawa has just pitched as a pre-budget bauble is one of the most mammoth promises ever issued by a Canadian federal government.

In terms of cost, effort and raw logistics, building 3.9 million homes in just seven years would easily rank as one of the most awesome expenditures of national effort outside of the world wars.

To be fair, Friday’s plan only promises 2 million “net new homes.” Under current forecasts, about 1.87 million homes will be “built anyway by 2031,” according to a backgrounder on the plan…with the Liberal/NDP government out the door with their pensions in 18 months…

Still, that’s 287,714 “net new homes” each year until 2031. Or, 783 extra homes per day. Or, one “net new home” every two minutes for the next seven years.

If, as a result of the Canada Housing Plan, Canada somehow managed to build an entire second Alberta, it still wouldn’t be enough to reach the target.

Across 119 years of recurring homebuilding booms, Alberta still has a total of just 1,633,220 “occupied private dwellings” as per the 2021 census.

So to meet the 2 million “net new homes” figure by 2031, Canada would also need to build a second Saskatchewan. That province had a combined total of 449,585 occupied private dwellings as of 2021.
Once upon a time, Canada’s corporate tax rate stood at 28%, but in 2000, then-prime minister Jean Chretien began lowering it down to 22%. When Stephen Harper took office in 2006, he lowered it to the current 15%.

While critics claimed this would make the government poor, the opposite happened, revenue from corporate income tax stayed steady or went up each year. A study by the Montreal Economic Institute in 2018 detailed corporate tax revenues using inflation adjusted 2017 dollars and found no significant decrease other than in years when recessions were taking place.

The reason is that a lower tax rate makes Canada a more attractive place to do business. More companies investing in equipment and jobs here means more economic activity and more revenue for the government.

Driven by demands from the NDP and Trudeau’s junior coalition partner, Jagmeet Singh, we are going to see tax increases on high-income earners and corporations.

Singh, who seems to be running the government rather than Trudeau these days — dictating key policy decisions — has been calling for an “excess profits tax” for some time. It’s unclear what such a tax would look like in practice, but New Democrats were boasting this week to Radio Canada, CBC’s French division, about looming corporate tax hikes.

This is why Rad Can wrote what we will see on Tuesday will be “A budget written in orange ink.” It’s a great line, especially when you consider that the Trudeau Liberals are taking tax advice from the economically illiterate Singh NDP. The Left trying to out-Left the Left.

A lower tax rate makes Canada a more attractive place for foreign investment. Pushing the corporate tax rate up to 22%, as the NDP would prefer, would put Canada’s corporate tax rate higher than the United States.

For more than a century, Liberal and Conservative governments have maintained a lower corporate tax rate in Canada as a key economic policy to attract investment. Oh well…

If he increases taxes on high-income earners, they will have fewer meals out, hurting the cooks, the waiters and restaurant owners. They will cut back on what they order in, hurting Canadians trying to keep a side hustle going, delivering food as a second job.

They may cut back on the household services provided by small businesses, from landscaping to security services.

The same holds for businesses facing higher tax pressures.

Hiring will freeze, capital spending on equipment and productivity will slow down. New investment from outside firms will hit pause or be directed elsewhere.

Trudeau is pitching his budget as something to cure what ails us. Instead, he’s likely to make things much, much worse.
 
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bob the dog

Council Member
Aug 14, 2020
1,194
937
113
Looks like Chrystia may have dropped a few pounds by the photo. Of course it doesn't show the bottom end.
 

bob the dog

Council Member
Aug 14, 2020
1,194
937
113
In a Friday press release headlined simply “Canada’s Housing Plan,” the Prime Minister’s Office laid out a plan to “unlock 3.87 million new homes by 2031.”

“Canada can and will solve the housing crisis,” read an attached quote by Housing Minister Sean Fraser.

In the media, it was mostly treated as yet another Liberal housing pledge, similar to the week before when the PMO had launched a new “rental protection fund.”

“Federal government launches new housing strategy,” read CBC’s headline on the plan.

But what Ottawa has just pitched as a pre-budget bauble is one of the most mammoth promises ever issued by a Canadian federal government.

In terms of cost, effort and raw logistics, building 3.9 million homes in just seven years would easily rank as one of the most awesome expenditures of national effort outside of the world wars.

To be fair, Friday’s plan only promises 2 million “net new homes.” Under current forecasts, about 1.87 million homes will be “built anyway by 2031,” according to a backgrounder on the plan…with the Liberal/NDP government out the door with their pensions in 18 months…

Still, that’s 287,714 “net new homes” each year until 2031. Or, 783 extra homes per day. Or, one “net new home” every two minutes for the next seven years.

If, as a result of the Canada Housing Plan, Canada somehow managed to build an entire second Alberta, it still wouldn’t be enough to reach the target.

Across 119 years of recurring homebuilding booms, Alberta still has a total of just 1,633,220 “occupied private dwellings” as per the 2021 census.

So to meet the 2 million “net new homes” figure by 2031, Canada would also need to build a second Saskatchewan. That province had a combined total of 449,585 occupied private dwellings as of 2021.
Once upon a time, Canada’s corporate tax rate stood at 28%, but in 2000, then-prime minister Jean Chretien began lowering it down to 22%. When Stephen Harper took office in 2006, he lowered it to the current 15%.

While critics claimed this would make the government poor, the opposite happened, revenue from corporate income tax stayed steady or went up each year. A study by the Montreal Economic Institute in 2018 detailed corporate tax revenues using inflation adjusted 2017 dollars and found no significant decrease other than in years when recessions were taking place.

The reason is that a lower tax rate makes Canada a more attractive place to do business. More companies investing in equipment and jobs here means more economic activity and more revenue for the government.

Driven by demands from the NDP and Trudeau’s junior coalition partner, Jagmeet Singh, we are going to see tax increases on high-income earners and corporations.

Singh, who seems to be running the government rather than Trudeau these days — dictating key policy decisions — has been calling for an “excess profits tax” for some time. It’s unclear what such a tax would look like in practice, but New Democrats were boasting this week to Radio Canada, CBC’s French division, about looming corporate tax hikes.

This is why Rad Can wrote what we will see on Tuesday will be “A budget written in orange ink.” It’s a great line, especially when you consider that the Trudeau Liberals are taking tax advice from the economically illiterate Singh NDP. The Left trying to out-Left the Left.

A lower tax rate makes Canada a more attractive place for foreign investment. Pushing the corporate tax rate up to 22%, as the NDP would prefer, would put Canada’s corporate tax rate higher than the United States.

For more than a century, Liberal and Conservative governments have maintained a lower corporate tax rate in Canada as a key economic policy to attract investment. Oh well…

If he increases taxes on high-income earners, they will have fewer meals out, hurting the cooks, the waiters and restaurant owners. They will cut back on what they order in, hurting Canadians trying to keep a side hustle going, delivering food as a second job.

They may cut back on the household services provided by small businesses, from landscaping to security services.

The same holds for businesses facing higher tax pressures.

Hiring will freeze, capital spending on equipment and productivity will slow down. New investment from outside firms will hit pause or be directed elsewhere.

Trudeau is pitching his budget as something to cure what ails us. Instead, he’s likely to make things much, much worse.
When delivering food becomes an industry unto itself the world is in a sad state of affairs. Seems like there is no one left who knows how to peel a potato or make a sandwich. Alexa order me a plate of $25 rice.
 
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petros

The Central Scrutinizer
Nov 21, 2008
109,799
11,602
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Low Earth Orbit
When delivering food becomes an industry unto itself the world is in a sad state of affairs. Seems like there is no one left who knows how to peel a potato or make a sandwich. Alexa order me a plate of $25 rice.
A delivery only restaurant would do very well.
 

pgs

Hall of Fame Member
Nov 29, 2008
26,755
7,051
113
B.C.
Looks like Chrystia may have dropped a few pounds by the photo. Of course it doesn't show the bottom end.
Easy to lose weight while speedy around .
When delivering food becomes an industry unto itself the world is in a sad state of affairs. Seems like there is no one left who knows how to peel a potato or make a sandwich. Alexa order me a plate of $25 rice.
In my complex I see people ordering MacDonald’s on door dash . Sad but true . More money than brains .
 
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