British Columbia debt.

[taxme]

I just found out from the Canadian Taxpayer's website that BC is in debt for the amount of $98 billion and the debt goes up by $40 million per day. How in the hell did we the taxpayers here in BC end up with a $98 billion debt? How did it get so bloody high?

I believe that this is the result of what our politicians have been doing with our tax dollars for decades now. Our leftist liberal and NDP communist political party's in BC have been blowing our taxpayer's tax dollars like there is no tomorrow. They have blown those tax dollars on wasteful and useless socialist programs and agendas that have put the taxpayer into this situation. Is this what we pay our politicians for? To take our tax dollars and blow them on programs and agendas that are totally useless and serve no need at all? 

It's no wonder that our socialist NDP government needs to keep looking for new ways and more reasons to try and get more tax dollars from us. The carbon taxes is just one of those many taxes that they keep piling up on we the stupid sheeple. Instead of trying to cut expenses, our politicians want to increase taxes and spend more. If it were not for the Canadian Taxpayer's Federation, I would never have heard about all of this debt and theft of taxpayer's tax dollars that have been wasted for so many decades now. 

This is what we the taxpayer's get when we take the attitude of I don't give a chit. How long will it be before the taxpayer decides that they have had enough already of these crazy spending habits that our politicians keep doing to us every day. Have you had enough yet? We are over taxed and over regulated and there appears to be no end in site. If we ever needed a taxpayer party in BC, it is now. What say you? 

 

[herbie]

So vote for the Conservatives next time.

Remember: BC Unity is just them damn liberals in disguise... out to fool people like you.

[SpankyMcFarland]

I don’t keep in touch with BC politics much these days, so can you tell me was all that debt racked up by NDP governments? 

[ExFlyer]

On 8/8/2023 at 12:21 AM, SpankyMcFarland said:

I don’t keep in touch with BC politics much these days, so can you tell me was all that debt racked up by NDP governments? 

Show me a NDP government anywhere anytime that has not racked up huge debts LOL

As the old expression goes, "The government cannot give to anybody anything that the government does not first take from somebody else.... and all the NDP does is give give give.

Edited August 12, 2023 by ExFlyer

[SpankyMcFarland]

6 hours ago, ExFlyer said:

Show me a NDP government anywhere anytime that has not racked up huge debts LOL

As the old expression goes, "The government cannot give to anybody anything that the government does not first take from somebody else.... and all the NDP does is give give give.

Just to repeat my question: it was only NDP governments that added to the debt?

[herbie]

Yes, they did it all just yesterday. IF they'd just stop fighting forest fires and floods, fire all the doctors and nurses, just stop and walk away from the gas pipeline and Site C dam construction, make the fools in Surrey pay 100% of their foolish policing decision, sell BC Ferries and let Black Ball Ferries resume once a day sailings to the island and sell the Agricultural Land Reserve to foreign real estate developers we'd be rich and happy.
Or maybe they could sell off (or 999 year lease for #1) the whole education system to some Florida right wing organization so they'd stop indocrinating kids that govts should DO something for the voters with the money they collect.

Or maybe the Bozos from the Taxpayers Federation could run for office and see how well they do (hah hah).

Edited August 12, 2023 by herbie

[CdnFox]

On 8/12/2023 at 1:06 PM, SpankyMcFarland said:

Just to repeat my question: it was only NDP governments that added to the debt?

They added the most proportionally.

Now - a goodly chunk of the recent stuff is covid related.  About 25 billion ish and change.  Some would say that was unavoidable and they just happened to be in power when that happened. Some would say it didnt' need to be so high.

Having said that - debt always does tend to go up over time.  Things cost more and there's more people. So going over budget 10 percent in 1980 and in 2020 are going to mean VERY different amounts.

This ndp gov't has been the worst - and plans to remain the worst for the foreseeable future. Spending is increasing at a dramatic rate, there is NO plan to reduce that growth never mind reverse it.  So - while past ndp gov'ts havent' been great they haven't always been disasters either.  But this one is spending like a dunken sailor at a time when our provincial population is aging and we wont' have the GDP to cover it. For the first time in about 20 years more people are moving to alberta than are moving here - and the ones moving here are largely retirees who dont' want to shovel snow into their 80's.  They don't make us money.

It's not a great picture at the moment.

 

 

[herbie]

just to counter your whinging....

B.C. posts $704M budget surplus, say audited public accounts

Maybe we should stop fighting the fires and pay down the debt instead to impress the bean counters, eh?

[August1991]

On 8/7/2023 at 7:56 PM, taxme said:

I just found out from the Canadian Taxpayer's website that BC is in debt for the amount of $98 billion and the debt goes up by $40 million per day. How in the hell did we the taxpayers here in BC end up with a $98 billion debt? How did it get so bloody high?

===

 

BC GDP is about Cdn $300 billion. Your provincial government debt is some 30% of GDP. I would not worry.

====

If you have a crazy wife, it is not whether she is using your credit card or your debit card: it is her spending. 

[CdnFox]

16 hours ago, August1991 said:

BC GDP is about Cdn $300 billion. Your provincial government debt is some 30% of GDP. I would not worry.

====

If you have a crazy wife, it is not whether she is using your credit card or your debit card: it is her spending. 

I think you fail to realize that provincial debt compounds on federal debt - there's only one taxpayer. And at the end of the day our gdp to debt is vastly higher than it was and going in the wrong direction.  There is much to be concerned about.

[Aristides]

On 9/3/2023 at 7:27 PM, August1991 said:

BC GDP is about Cdn $300 billion. Your provincial government debt is some 30% of GDP. I would not worry.

====

If you have a crazy wife, it is not whether she is using your credit card or your debit card: it is her spending. 

Most of BC's GDP is real estate. Debt to GDP doesn't mean that much.

[herbie]

Real estate? You mean that 3%+ Property transfer tax on all those $1.5 million dollar homes? They didn't even have the brains to bring that tax in in the first place!
Why they got rid of the $5 toll on every bridge you crossed both ways every day to get to work and back, and that wasn't even a tax, it was a "user fee".

Hell they could've sold BC Ferries back to BlackBall in the USA for $1 and unloaded all those operating costs like the good Free Enterprise party did with BC Rail.

NDP can't even run a popsicle stand!

Edited September 6, 2023 by herbie

[CdnFox]

15 minutes ago, herbie said:

Real estate? You mean that 3%+ Property transfer tax on all those $1.5 million dollar homes? They didn't even have the brains to bring that tax in in the first place!

???? He's talking GDP i think.

[August1991]

On 9/5/2023 at 10:30 AM, Aristides said:

Most of BC's GDP is real estate. Debt to GDP doesn't mean that much.

I disagree. The people of BC generate a tremendous flow of income.

The BC government can tax this flow.  As long as the government does not take more than the growing flow, then the system is sustainable. The measure is debt-to-GDP ratio.

If the government debt-to-GDP ratio is rising, it's a Ponzi scheme. Politicians need new taxpayers to pay for their promises.

[Aristides]

2 minutes ago, August1991 said:

I disagree. The people of BC generate a tremendous flow of income.

The BC government can tax this flow.  As long as the government does not take more than the growing flow, then the system is sustainable. The measure is debt-to-GDP ratio.

If the government debt-to-GDP ratio is rising, it's a Ponzi scheme. Politicians need new taxpayers to pay for their promises.

Real Estate is by far the biggest component of our GDP. Dept to GDP has nothing to do with productivity.

https://www.statista.com/statistics/594293/gross-domestic-product-of-canada-by-industry-monthly/

 

In the 11 years I have owned my present residence it has appreciated 150%. That's a hell of an increase in GDP but it is the same house only 11 years older.

[CdnFox]

3 minutes ago, August1991 said:

I disagree. The people of BC generate a tremendous flow of income.

The BC government can tax this flow.  As long as the government does not take more than the growing flow, then the system is sustainable. The measure is debt-to-GDP ratio.

If the government debt-to-GDP ratio is rising, it's a Ponzi scheme. Politicians need new taxpayers to pay for their promises.

Well the debt to gdp is rising.

Worse - there's a lot of undocumented debt there.  Crown corporations such as bc ferries which doesn't show up on the OFFICIAL 'provincial' debt, but for which the bc gov't is still liable for and must make sure gets paid by funding one way or another.

It's an old trick. Want to borrow 10 billion without looking to the voters like you're raising debt too much? Start a crown corp and have IT borrow the money and you're the guarantor.

Wynne pulled that in ontario nicely as well transferring billions that she borrowed to 'reduce electric bills' to the crown corp to hide it from voters.

[CdnFox]

2 minutes ago, Aristides said:

Real Estate is by far the biggest component of our GDP. Dept to GDP has nothing to do with productivity.

https://www.statista.com/statistics/594293/gross-domestic-product-of-canada-by-industry-monthly/

 

 

You obviously do not understand what you're looking at.

First - it's the largest catagory but it's still only a very small percent of the overall gdp. And it's not 'by far' the biggest - hell it only represents 25 percent of the top 5. It's the biggest but not "By far".  overall it's only a small percent.

Quote

In the 11 years I have owned my present residence it has appreciated 150%. That's a hell of an increase in GDP but it is the same house only 11 years older.

Until you sell it there is NO increase in gdp. At all.  So you have no clue how gdp works

And then - if it's sold then the selling agent worked to make the sale and his efforts count as gdp increase as a value of service provided.  Not the sale price of your home.

You're a !diot.

Rentals and leases both commercial and residential are counted after costs so that makes up the lions' share of that figure.  Also the sale price on new homes less the costs, because that is the creation of goods same as manufacturing.

With canada's rental market right now it's no suprise that rises in gdp are driven by that, but its still a perfectly credible number and yes, it's still a sign of productivity.

GDP to debt and GDP per capita are not the be all indicators some think but they are solid indicators and when taken with other finacial indicators do paint a fairly accurate picture of productivity, quality of life and health of the economy and the people.

 

I don't know who told you that your house going up in value had anything to do with gdp. The commission the sales rep makes selling an existing home would count but not your equity.  FFS.  Read a book.

[August1991]

18 minutes ago, CdnFox said:

Well the debt to gdp is rising.

Show me data.

====

In BC (and federal Canada), provincial governments are now doing things right.

We Canadians are paying taxes - more than what we receive.

Overall, our government debt-to-gdp ratio is falling.

Edited September 9, 2023 by August1991

[Aristides]

Then why is real estate included in GDP by sector, genius? 11 year old homes are selling at 150% more than the original price. That increase is included in our GDP even though they haven't produced a damn thing in 11 years except maybe what has been spend on renovations during that time.

 

Why are you so damn insecure that you can't respond to anyone without an insult?

Edited September 9, 2023 by Aristides

[CdnFox]

1 minute ago, August1991 said:

Show me data.

====

https://www.cbc.ca/news/canada/british-columbia/bc-budget-2021-main-1.5995175

Why didn't you look it up yourself? Are you uneducated to the point where you don't know how to use google? The real figures for 2022 are out there as well, and the forecasts now are for a worsening situation moving forward.

On the federal front its' nothing short of abject disaster.  I mean generational disaster. It couldn't be going much more wrong with signs it's about to collapse further somehow.

Our gdp per capita is going down - it's still below pre-covid levels

https://tradingeconomics.com/canada/gdp-per-capita

Covid doesn't count because we deliberately shut down the country for that so i don't blame them for 2020 or 2021 - but covid was pretty much done and the country open for 2022 and instead of increasing we're not even back to where we were.  it SHOULD be going up by a goodly amount every year - ESPECIALLY DURING  INFLATIONARY PERIODS.

Meanwhile people can't afford to live. They can't afford rent and can't afford food.

Canada is going in entirely the wrong direction - which is why the recent polls asking people have over 50 percent saying so. You can lie on paper - but people who can't eat aren't going to be buying that.

 

 

[CdnFox]

10 minutes ago, Aristides said:

Then why is real estate included in GDP by sector, genius?

Because RENTAL and LEASING and NEW HOME sales along with the COMMISSIONS FROM OLD HOMES  is actually part of gdp.

YOUR INCREASE IN EQUITY IS NOT FFS! Why did i  have to explain that twice? This would go a lot faster if you're only stupid once.

Quote

11 year old homes are selling at 150% more than the original price.

That has NOTHING TO DO WITH GDP.  Other than the realtors commissions will be added to gdp But the increase in the value of the home means NOTHING.

 

Quote

That increase is included in our GDP even though they haven't produced a damn thing

NO it ISN"T.  My god - it's like trying to explain calculus to a cockadoodle.

GDP is not the value of things. GDP is the value of the goods and services CREATED after the cost of creating them.  If you build a new house from nothing and sell it - THEN the value minus the cost of contsrtuction is calculated because you BUILT something. But if you sell that house again later, only the real estate commission (the value of the service  provided) will count.

A rent counts because it's the value created by the service of renting.  But the sale of an existing home does not.

Quote

Why are you so damn insecure that you can't respond to anyone without an insult?

I find your rampant stupidity and unwillingness to actually learn what you're talking about before opening your mouth insulting. And the fact you double down on it every time doesnt' help.

You should have at least looked up what GDP is before making those statements. 

Now - if you were to buy an old home - fix it up and paint it etc and sell it for more money and pay tax on that sale - then the difference between your selling price and your buying price minus the costs (including financing) would count - but not you primary residence no matter how much it went up or what you sold it for.

[Aristides]

Like I said, you just can't have a debate without using insults. You are just too insecure and immature.

[CdnFox]

1 minute ago, Aristides said:

Like I said, you just can't have a debate without using insults. You are just too insecure and immature.

LIke i said you just can't have a debate without being a m0ron.  You're just too stupid and illiterate.

Go read a book - then we'll talk. In the meantime (surprise surprise) you were wrong about gdp and it's ability to point to productivity.

[Aristides]

Bye. You are back on ignore.

[CdnFox]

Just now, Aristides said:

Bye. You are back on ignore.

So  you're a coward and a m0ron.  No shock. See ya kiddie.