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

petros

The Central Scrutinizer
Nov 21, 2008
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"While gas has gone up 64%, the cost of an average home 54% and food by at least 32.3%, StatsCan says average hourly wages have only increased by 29% over that same time period."

Sounds like the public sector needs another raise just to keep up.

I notice as I pay the month end utilities my money is sent off to far end places and people I don't know. Not much is left to spend locally on anything of note might be a reason there are no businesses left in town.

One thing for sure is the banks like to keep the people as broke as possible in order to sustain the credit card interest revenues and general consumer debt. Wily people that can't be trusted imo.
Move to the US. Higher wages and a lot cheaper to live.
 

bob the dog

Council Member
Aug 14, 2020
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Move to the US. Higher wages and a lot cheaper to live.
Average income is close to the same just under $60,000 with the difference being in the buying power of the dollar. It's not as straight forward as it seems.

Buying things of value is still the same but their government takes less / gives back more. I'm sure there are some nice places.

Living in Canada is like fixing up an old car if you could ever get it running just right it would be good.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
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Regina, Saskatchewan
Finance Minister Chrystia Freeland intends to ask Parliament to approve proposed changes to capital gains tax rates in a stand-alone bill? Interesting…
View attachment 21951
A gift to her daughter and grandson has left a 93-year-old Ontario woman with sticker shock.
The most controversial measure from her recent federal budget is not included in the motion she tabled Tuesday to introduce the federal budget in the House of Commons.
Liz Diachun told CTV News she was planning to give her family two lots on her farm property in Warkworth to help them establish homes. However, her lawyer informed her that despite the land being a gift, it still needed to be appraised at fair market value for tax purposes.
That will “force” (???) other (???) opposition parties to take a position specifically on the proposed increase to the inclusion rate rather than it being just one item in a laundry list of budget policies they vote for or against as a whole.
The two lots were appraised at $125,000 and $145,000, totalling $270,000, leaving Diachun with a tax bill of about $40,000, an amount she said she cannot pay.

“I’m on pension. How am I going to pay for that?” said Diachun. “I’m not one of the wealthy. I’m 93 years old. Who is going to give me a mortgage? Who is going to give me a loan?”
Force (???) “other” opposition parties? What a strange & interesting way to word this…
Diachun is hopeful she can still find a way to make the gifts happen but the clock is ticking. Beginning next month, the capital gains tax inclusion rate will increase from 50 per cent to 67 per cent for amounts over $250,000.
Freeland is planning to hold a news conference Tuesday afternoon alongside other cabinet ministers to discussion the motion.
It (Capital Gains Tax) was first introduced in 1972 as part of the tax reforms implemented by Finance Minister Edgar Benson, a member of Prime Minister Pierre Trudeau’s government.
 

bob the dog

Council Member
Aug 14, 2020
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Hearing a $50.9 billion deficit for the past year. Starting to wonder when our debt gets called as it doesn't seem sustainable to keep going at this rate.

Is it possible no one sees it as an issue?
 
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Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
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Hearing a $50.9 billion deficit for the past year. Starting to wonder when our debt gets called as it doesn't seem sustainable to keep going at this rate.

Is it possible no one sees it as an issue?
Maybe it's an attitude of "Big deal. The Yanks do it all the time." That would ignore the ancient rule that what the big dog does can be dangerous or fatal to the little dogs.
 

petros

The Central Scrutinizer
Nov 21, 2008
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Hearing a $50.9 billion deficit for the past year. Starting to wonder when our debt gets called as it doesn't seem sustainable to keep going at this rate.

Is it possible no one sees it as an issue?
We'll be fine after Russian resources are off the market and incapable of supporting BRICS.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
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Regina, Saskatchewan
The Liberal government plans to take the first legislative step Monday (today) toward increasing the inclusion rate on capital gains.

Finance Minister Chrystia Freeland flagged the timing Sunday, saying the government is taking action to improve tax “fairness” for Canadians.
1718023321974.jpeg
Freeland announced the capital gains tax changes as part of her April budget, but left the new inclusion rate out of the budget legislation.

The government proposes to make two-thirds of capital gains taxable.

The Liberals must table a motion in the House of Commons before they bring forward the actual legislation on capital gains. The government says the change will take effect June 25, even if a bill has yet to pass…which sounds kind of ominous all by itself…
Chrystia Freeland is warning that democracy is at stake if Canada doesn’t raise the capital gains inclusion rate. Justin Trudeau’s deputy prime minister was speaking Sunday of the cold and dark future that awaits Canada if this specific tax change isn’t made, etc…
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,901
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Regina, Saskatchewan
Democracy is at stake? Steak is at stake. Its $15 for a strip loin.
Doctors, lawyers and other professionals have objected to the capital gains tax change since it was announced, saying their ability to retire and take time off is contingent on profits made from their practices.

The Canadian Medical Association said in a statement Sunday that it is “deeply disappointed” in Freeland’s announcement that the federal government plans to proceed with the tax change. It warned the change will “add undue pressure and financial strain on physicians, undermining the stability of our health-care system.”

Benjamin Bergen, president of the Council of Canadian Innovators, told Global News on Sunday that the central bank’s rate cut is more a sign that Canada’s economy is struggling and needs a boost.

The proposed changes to capital gains taxes are an “ill-baked idea” that will hamper growth outlook by discouraging Canadians to start and invest in their businesses, he argued. He said that CCI members have already told him that investors are wary of putting more capital into Canadian firms based on the proposed changes in the budget two months ago.
The NDP have indicated they will support the proposed changes to capital gains taxes.
 

petros

The Central Scrutinizer
Nov 21, 2008
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Doctors, lawyers and other professionals have objected to the capital gains tax change since it was announced, saying their ability to retire and take time off is contingent on profits made from their practices.

The Canadian Medical Association said in a statement Sunday that it is “deeply disappointed” in Freeland’s announcement that the federal government plans to proceed with the tax change. It warned the change will “add undue pressure and financial strain on physicians, undermining the stability of our health-care system.”

Benjamin Bergen, president of the Council of Canadian Innovators, told Global News on Sunday that the central bank’s rate cut is more a sign that Canada’s economy is struggling and needs a boost.

The proposed changes to capital gains taxes are an “ill-baked idea” that will hamper growth outlook by discouraging Canadians to start and invest in their businesses, he argued. He said that CCI members have already told him that investors are wary of putting more capital into Canadian firms based on the proposed changes in the budget two months ago.
The NDP have indicated they will support the proposed changes to capital gains taxes.
Something tells me these capital gains dont impact trust funds and their real assets
 
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Dixie Cup

Senate Member
Sep 16, 2006
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Edmonton
The Liberal government plans to take the first legislative step Monday (today) toward increasing the inclusion rate on capital gains.

Finance Minister Chrystia Freeland flagged the timing Sunday, saying the government is taking action to improve tax “fairness” for Canadians.
View attachment 22470
Freeland announced the capital gains tax changes as part of her April budget, but left the new inclusion rate out of the budget legislation.

The government proposes to make two-thirds of capital gains taxable.

The Liberals must table a motion in the House of Commons before they bring forward the actual legislation on capital gains. The government says the change will take effect June 25, even if a bill has yet to pass…which sounds kind of ominous all by itself…
Chrystia Freeland is warning that democracy is at stake if Canada doesn’t raise the capital gains inclusion rate. Justin Trudeau’s deputy prime minister was speaking Sunday of the cold and dark future that awaits Canada if this specific tax change isn’t made, etc…
And the lies continue!
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,901
8,450
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Regina, Saskatchewan
And the lies continue!
Or the distortions of the truth. Finance Minister Chrystia Freeland is pushing back on criticism from doctors who oppose Ottawa’s capital-gains tax increases, saying it will also raise billions in new provincial revenue that could boost health spending? Uhm…ok?

“That’s a lot of additional money for provinces and territories. I would invite Canadians who feel that our doctors should be paid more to suggest that provinces and territories should be using some of that revenue to increase the actual salaries, the rate of compensation of doctors,” Ms. Freeland said…so take the money from doctors….In taxes, & give it back to the doctors in wages & salaries, so the federal government could take it again in taxes…yeah…I could see Freeland encouraging this.
She also urged all MPs to support the motion when it comes up for a vote as soon as Tuesday.
 
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petros

The Central Scrutinizer
Nov 21, 2008
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Or the distortions of the truth. Finance Minister Chrystia Freeland is pushing back on criticism from doctors who oppose Ottawa’s capital-gains tax increases, saying it will also raise billions in new provincial revenue that could boost health spending? Uhm…ok?

“That’s a lot of additional money for provinces and territories. I would invite Canadians who feel that our doctors should be paid more to suggest that provinces and territories should be using some of that revenue to increase the actual salaries, the rate of compensation of doctors,” Ms. Freeland said…so take the money from doctors….In taxes, & give it back to the doctors in wages & salaries, so the federal government could take it again in taxes…yeah…I could see Freeland encouraging this.
She also urged all MPs to support the motion when it comes up for a vote as soon as Tuesday.
The hippies said "legal weed will pay for our health-care". Hows that coming along?
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,901
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Regina, Saskatchewan
The hippies said "legal weed will pay for our health-care". Hows that coming along?
Almost a decade ago, shortly before Trudeau 2.0 was voted in, something about “Budgets balancing themselves” was a catch-line like “Sunny Ways” and “Openness and Transparency by default” etc…and here we are…nine years later, so far.

How’s the last almost decade of scandals and mismanagement coming along, & is the current government still blaming the previous-previous-previous government and Prime Minister that was last in power in the Spring of 2015 that passed over the reins of governance with a balanced budget?

Truth is, Ottawa needs the extra cash to pay for the promises Freeland made in the budget, which raised spending further even as she repeated her absolute determination to keep outlays under control. She made the promises against all common sense because the Liberals need NDP support to stay in office and care more about that than any extra damage they might do to the economy.

Incumbent governments are getting hammered in elections across the globe. France, Germany, Britain, India, the EU. Trudeau’s troops must be terrified. Frightened governments do crazy things. This time next year we could be looking back on 2024 as the good old days, when borrowing was a mere pittance at 50 billion big ones.
 
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petros

The Central Scrutinizer
Nov 21, 2008
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Almost a decade ago, shortly before Trudeau 2.0 was voted in, something about “Budgets balancing themselves” was a catch-line like “Sunny Ways” and “Openness and Transparency by default” etc…and here we are…nine years later, so far.

How’s the last almost decade of scandals and mismanagement coming along, & is the current government still blaming the previous-previous-previous government and Prime Minister that was last in power in the Spring of 2015 that passed over the reins of governance with a balanced budget?

Truth is, Ottawa needs the extra cash to pay for the promises Freeland made in the budget, which raised spending further even as she repeated her absolute determination to keep outlays under control. She made the promises against all common sense because the Liberals need NDP support to stay in office and care more about that than any extra damage they might do to the economy.

Incumbent governments are getting hammered in elections across the globe. France, Germany, Britain, India, the EU. Trudeau’s troops must be terrified. Frightened governments do crazy things. This time next year we could be looking back on 2024 as the good old days, when borrowing was a mere pittance at 50 billion big ones.
Still "unlocking people's savings to kick start the economy" I see.
 
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Dixie Cup

Senate Member
Sep 16, 2006
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Edmonton
Or the distortions of the truth. Finance Minister Chrystia Freeland is pushing back on criticism from doctors who oppose Ottawa’s capital-gains tax increases, saying it will also raise billions in new provincial revenue that could boost health spending? Uhm…ok?

“That’s a lot of additional money for provinces and territories. I would invite Canadians who feel that our doctors should be paid more to suggest that provinces and territories should be using some of that revenue to increase the actual salaries, the rate of compensation of doctors,” Ms. Freeland said…so take the money from doctors….In taxes, & give it back to the doctors in wages & salaries, so the federal government could take it again in taxes…yeah…I could see Freeland encouraging this.
She also urged all MPs to support the motion when it comes up for a vote as soon as Tuesday.
Stupid is as stupid does.
 
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