Leaders debate Aug 6

[Smallc]

Imagine how our debt load wouldn't have skyrocketed without that "boost" from the government.

Skyrocketed? How do you feel about Ontario's debt, I wonder? Federal debt to GDP is falling, and has been for about two years now.

[Smallc]

Because all it did was allow retailers to increase profit margins,

Do you think that retailers shouldn't be able to make money?

[On Guard for Thee]

Do you think that retailers shouldn't be able to make money?

Of course they should, just not at the expense of the national debt.

[Smallc]

Of course they should, just not at the expense of the national debt.

Do you think that wished for further spending by the NDP and Liberals would have caused the debt to be lower?

[Argus]

Apparently Harper didn't realize how powerful/damaging a 2% cut in gst was either. Isn't he supposed to be an economist?

The tax cut and resulting spur to the economy and to consumer spending probably had a positive impact on the health of the economy.

Edited August 8, 2015 by Argus

[On Guard for Thee]

Do you think that wished for further spending by the NDP and Liberals would have caused the debt to be lower?

Infrastructure spending has been shown to be much more effective than tax cuts to stimulate the economy.

[Smallc]

Infrastructure spending has been shown to be much more effective than tax cuts to stimulate the economy.

Infrastructure spending can't stimulate the economy tomorrow. The only things that can do that are cuts to consumption taxes, or direct monetary assistance. Direct assistance is generally a bad idea.

[Smallc]

Infrastructure spending has been shown to be much more effective than tax cuts to stimulate the economy.

But does that mean that you think it's better to add to the debt by government spending money, rather than letting the people who earned it, keep it?

[On Guard for Thee]

But does that mean that you think it's better to add to the debt by government spending money, rather than letting the people who earned it, keep it?

Yes it does.

[Derek 2.0]

Surely you can figure out the math on profit margin, and do you really think 14 billion in one year is a "slight" debt increase?

Compared to what? As compared to our annual Federal budget of ~$280-290 billion, 14 billion represents a ~4% increase.....so yes, "slight debt increase" is a fair label.

[Freddy]

Yes it does.

If the people used the extra money to buy a machine and started manufacturing something and eventually created jobs.

Then you would be wrong.

Low interest rates are only good if people use the cheap money to buy a machine and start manufacturing something and eventually creates jobs.

Then You would be wrong.

As Canadians are so useless as they are, They wouldn't even know what machine to buy to start manufacturing something, even if they had the extra money.

So we need a government to go into depth, spending on infrastructure, hoping that we will need the infrastructure to ship the manufacturing good we will never make.

[Freddy]

What's wrong with Canada's economy? Everyone is at home getting further in dept, on their couches watching television. That's the problem with Canada's economy.

If they were getting in dept trying to manufacture something, then we would be doing just fine.

The reality is we are going in dept and spending our whole day watching tv and face book.

What's wrong with Canada? Canadians, that's what's wrong.

Why is mediocracy the new normal? Because Canadians are mediocre.

The government can't make winners out of a bunch of losers.

Edited August 8, 2015 by Freddy

[On Guard for Thee]

Compared to what? As compared to our annual Federal budget of ~$280-290 billion, 14 billion represents a ~4% increase.....so yes, "slight debt increase" is a fair label.

A much smarter approach would have been to leave gst alone and use the proceeds to reduce other taxes, such as income.

[Freddy]

A much smarter approach would have been to leave gst alone and use the proceeds to reduce other taxes, such as income.

What difference would it make? No one would use that money to heighten their productivity of manufacturing something.

We need to actually produce something to call it a economy.

We can't even produce functional children. We are a lost cause.

Edited August 8, 2015 by Freddy

[Argus]

A much smarter approach would have been to leave gst alone and use the proceeds to reduce other taxes, such as income.

In fact, the GST is the most efficient, not to mention most progressive kind of tax there is. That's why all the European governments, as progressive as they are, have big VATs. I'm not talking 8% either, but 20% or more. Income tax isn't the very worst tax you can have, that's taxes on jobs, you know the kind of that come from pension and UIC deductions, Those are a disincentive to business to hire more people since every new employee costs them more.

What the Tories ought to have done was to increase the GST and then cut employment taxes.

Nevertheless, a cut in taxes was definitely not in the cards from the opposition then, nor is it now. Rather the opposite, in fact.

[Smallc]

A much smarter approach would have been to leave gst alone and use the proceeds to reduce other taxes, such as income.

While I agree with you, in terms of immediate economic stimulation, nothing can be done faster.

[hitops]

I sure haven't. It's pretty well known we have one of the lowest youth voter turn outs of the developed countries.

You missed his point, which was that yes the vote is always low, and the predictions are always that it will be high.

[Freddy]

We used to manufacture our own everything. Clothing, food, education, housing. And had families of 12 kids.

What's the problem with canada? No one knows how or has the disipline to make anything for themselves anymore.

[On Guard for Thee]

What difference would it make? No one would use that money to heighten their productivity of manufacturing something.

We need to actually produce something to call it a economy.

We can't even produce functional children. We are a lost cause.

A cut in gst provides no incentive to save or invest, while income tax reductions lead to investments in training and equipment, which is good for growth and productivity. It must be a sad community you live in. There are lots of kids on my street working summer jobs to help them with ext years college or university year.

[Freddy]

A cut in gst provides no incentive to save or invest, while income tax reductions lead to investments in training and equipment, which is good for growth and productivity. It must be a sad community you live in. There are lots of kids on my street working summer jobs to help them with ext years college or university year.

Yes it's a very sad community. It's Ottawa.

[On Guard for Thee]

Yes it's a very sad community. It's Ottawa.

And no functional children over there , is that right?

[Bob Macadoo]

And no functional children over there , is that right?

That would presuppose functioning parents...... Maybe try Hull or Kanata.....

[Argus]

We used to manufacture our own everything. Clothing, food, education, housing. And had families of 12 kids.

What's the problem with canada? No one knows how or has the disipline to make anything for themselves anymore.

We can make stuff. We can make toasters, but they'll cost $45 instead of $11. Just about everything manufactured here can be manufactured and then shipped here much more cheaply than we can make it. Unless you want to drop the minimum wage to 62 cents and eliminate safety and pollution laws I don't see that changing much.

[kimmy]

What's wrong with Canada's economy? Everyone is at home getting further in dept, on their couches watching television. That's the problem with Canada's economy.

If they were getting in dept trying to manufacture something, then we would be doing just fine.

The reality is we are going in dept and spending our whole day watching tv and face book.

Pretty good trolling attempt, but next time you could spice it up with some "kids these days..." and "when I was their age..." comments. Also maybe some anecdotes like "I didn't need student loans, I put myself through college by getting a paper route" and "my first job was at a mail room, and within 3 years I was VP of Sales! You just have to start at the bottom and work your way up!"

-k

[Freddy]

You want to save this economy? Subsidies raw material production, so that it hits the market at such a cheap cost, people can buy it to produce their own everything.