Canada going downhill in every major category

[I am Groot]

Now I know what you're thinking. Conrad Black is not someone whose opinion you really care about. And often enough, neither do I. He can be a weird cluck in his continuing belief Donald Trump made a good president, not to mention endorsing Justin Trudeau back in 2015. But his opinion here is mostly a recitation of sad statistics and information that sounds even worse when gathered together.

It really will take radical change to break us free from our complacency, and I just don't know if Canadians will accept a government that's willing to do it. Presuming we can find someone to head such a government. Stephen Harper was more of a go-along-to-get-along PM and never really pushed any major changes.  Trudeau, of course, is just a disaster in all categories.

What I suspect we need is someone who will make huge cuts in government programs and spending, not to mention slashing regulations of all kinds along with the regulators.

Among the principal points that have arisen are that the Organisation for Economic Co-operation and Development (OECD) now predicts that Canada will be the poorest performing advanced economy in the world until 2060, if it continues on its present path. Under Prime Minister Justin Trudeau’s watch, Canada’s per capita average incomes increased by three per cent, from $54,154 in 2016 to $55,863 in 2022, while that of the United States rose by 12 per cent, from $65,792 to $73,565; for a family of four, that is a substantial differential that puts the average American family in a distinctly higher income category than their Canadian analogue. In approximately the same period, cash generated in Canada and invested outside Canada exceeded incoming investments in this country by about $285 billion. From the onset of COVID in February 2020 until June 2023, the number of private-sector jobs in Canada increased by 3.3 per cent, while public-sector jobs rose 11.8 per cent, and public-sector employees are paid 31 per cent more on average than those in the private sector.

We are chronically overtaxed: 45 per cent of the average family’s income is paid in tax, costing an average of over $48,000 a year — by far the largest household expense. The tax increases in the latest budget will only aggravate these problems. We are not only overtaxed and underpaid, the principal costs have been grossly mismanaged. Last year, we admitted around 500,000 immigrants, many of which are in a desperate housing scramble. Notwithstanding that the average American makes more than the average Canadian, the average housing unit in Canada is approximately 40 per cent more expensive than in the United States.

Health care, once one of the hallmarks of Canada’s status as a country distinctive from, and more caring than, the United States, is a shambles. In 30 years, waiting lists have increased from nine weeks to 28 weeks. Of 30 countries with universal health care, Canada’s system is the most expensive as a percentage of GDP, has the longest waiting periods, ranks 28th in doctors, 23rd in available beds and 24th and 25th in number of MRIs and CT scanners. It is a disaster that has now stooped to promoting the virtues of suicide through the medical assistance in dying program. 

 

https://archive.is/FNMqt

[eyeball]

4 minutes ago, I am Groot said:

Now I know what you're thinking. Conrad Black is not someone whose opinion you really care about. And often enough, neither do I.

Oh well, he'll always have Babs.

But seriously, isn't this the position everyone should take towards their betters in our society? I bet Connie thinks so.

[eyeball]

47 minutes ago, I am Groot said:

What I suspect we need is someone who will make huge cuts in government programs and spending, not to mention slashing regulations of all kinds along with the regulators.

Someone who will unleash people like Black so they can pretty much do whatever they want?

Don't worry, nature will take care of regulations along with regulators soon enough and everyone will have the same opportunities.

[suds]

A former Bank of Canada governor was saying recently that any new government spending should be aimed at increasing economic productivity. Increasing capital gains taxes does the exact opposite.  But that doesn't exactly help any government win a few votes short term. Then there's the deficits and mounting debt. Servicing the debt takes a lot of money off the table that could be used elsewhere. If you want to win elections you're far more likely to win if you spend spend spend. Austerity gets you nowhere unless things get really bad. I love democracies, but it does bring with it some inherent problems.

[taxme]

1 hour ago, I am Groot said:

Now I know what you're thinking. Conrad Black is not someone whose opinion you really care about. And often enough, neither do I. He can be a weird cluck in his continuing belief Donald Trump made a good president, not to mention endorsing Justin Trudeau back in 2015. But his opinion here is mostly a recitation of sad statistics and information that sounds even worse when gathered together.

It really will take radical change to break us free from our complacency, and I just don't know if Canadians will accept a government that's willing to do it. Presuming we can find someone to head such a government. Stephen Harper was more of a go-along-to-get-along PM and never really pushed any major changes.  Trudeau, of course, is just a disaster in all categories.

What I suspect we need is someone who will make huge cuts in government programs and spending, not to mention slashing regulations of all kinds along with the regulators.

Among the principal points that have arisen are that the Organisation for Economic Co-operation and Development (OECD) now predicts that Canada will be the poorest performing advanced economy in the world until 2060, if it continues on its present path. Under Prime Minister Justin Trudeau’s watch, Canada’s per capita average incomes increased by three per cent, from $54,154 in 2016 to $55,863 in 2022, while that of the United States rose by 12 per cent, from $65,792 to $73,565; for a family of four, that is a substantial differential that puts the average American family in a distinctly higher income category than their Canadian analogue. In approximately the same period, cash generated in Canada and invested outside Canada exceeded incoming investments in this country by about $285 billion. From the onset of COVID in February 2020 until June 2023, the number of private-sector jobs in Canada increased by 3.3 per cent, while public-sector jobs rose 11.8 per cent, and public-sector employees are paid 31 per cent more on average than those in the private sector.

We are chronically overtaxed: 45 per cent of the average family’s income is paid in tax, costing an average of over $48,000 a year — by far the largest household expense. The tax increases in the latest budget will only aggravate these problems. We are not only overtaxed and underpaid, the principal costs have been grossly mismanaged. Last year, we admitted around 500,000 immigrants, many of which are in a desperate housing scramble. Notwithstanding that the average American makes more than the average Canadian, the average housing unit in Canada is approximately 40 per cent more expensive than in the United States.

Health care, once one of the hallmarks of Canada’s status as a country distinctive from, and more caring than, the United States, is a shambles. In 30 years, waiting lists have increased from nine weeks to 28 weeks. Of 30 countries with universal health care, Canada’s system is the most expensive as a percentage of GDP, has the longest waiting periods, ranks 28th in doctors, 23rd in available beds and 24th and 25th in number of MRIs and CT scanners. It is a disaster that has now stooped to promoting the virtues of suicide through the medical assistance in dying program. 

 

https://archive.is/FNMqt

The only to save Canada now is to get a government in power that believes in more freedom, less taxes and less government ruloes and regulations that are stifling economic growth. We need to have a moratorium on massive 3rd world immigration and get rid of liberal Marxist programs and agendas like gender, pronouns and DEI or diversity, and get rid of foreign aid. And bringing in hundreds of thousands of legal and illegal new immigrants every year into Canada will never solve our housing crisis. Our housing and medical system is under attack thanks to massive liberal immigration. 

These are all massive and radical moves for a political party to have to make, and try to implement, but it is the only way to try and help save Canada from this Marxist WEF globalist great reset agenda that is destroying Canada today, and making Canadians poorer and poorer every day. Only a real and true and honest conservative government could do the trick. Our only hope today is for the Federal Conservative Party of Canada to win the next election in Canada. Five more years of liberal/NDP socialism will finish off the old Canada that we once knew and love for good. Believe it or not. 😇

[I am Groot]

2 hours ago, suds said:

A former Bank of Canada governor was saying recently that any new government spending should be aimed at increasing economic productivity. Increasing capital gains taxes does the exact opposite.  But that doesn't exactly help any government win a few votes short term. Then there's the deficits and mounting debt. Servicing the debt takes a lot of money off the table that could be used elsewhere. If you want to win elections you're far more likely to win if you spend spend spend. Austerity gets you nowhere unless things get really bad. I love democracies, but it does bring with it some inherent problems.

The thing is most big problems are complicated and aren't so quick and easy to solve. Which means it takes time - years. No government wants to have the healthcare, or justice, defense, or native administration system in a mess, like a car that's half put together with its parts laid out on the garage floor, when the next election rolls around. Because then the other guy can say "Look at the mess they made of our car! It's half collapsed and its parts are all out on the floor! Elect me and I'll fix it!"

And people are such short-term,  stupid thinkers they're likely to do just that.

Which is why the big, complicated, systemic problems get kicked down the road.

Edited April 21 by I am Groot

[Legato]

The day Trudeau leaves office should be declared a national holiday.

[Perspektiv]

2 minutes ago, Legato said:

The day Trudeau leaves office should be declared a national holiday.

I will buy the wife expensive wine, take her out to the ritziest restaurant in town. When she asks why, why am I abnormally cheery and whats the occasion, will tell her its my love for her.

We will both know whats up.

[Moonlight Graham]

Uh oh spaghetti oh's

Edited April 21 by Moonlight Graham

[Moonlight Graham]

The new capital gains tax should only be aimed at people selling non-primary residences, besides cottages.  All housing speculation should be disincentivized.

But that would only prevent the new buying of 2nd properties.  There should also be some kind of mechanism to get current 2nd home owners to sell those homes instead of holding them.  Just tax the crap out of the ownership of those homes until they sell so its no longer profitable.

Edited April 21 by Moonlight Graham

[herbie]

And yet the #1 criticisms of the budget have been
- there isn't enough money in it for transit
- disability program is too cheap
- no new money for the Forces
-etc. etc. etc. etc.

[eyeball]

52 minutes ago, Moonlight Graham said:

Just tax the crap out of the ownership of those homes until they sell so its no longer profitable.

Strap 'em to a gurney so to speak? 

And they thought I was being cruel for suggesting an annual 1% wealth tax on anything over $10 to $100 million, 2% on $100 million to $1 billion and 3% on everything over $10 billion.

I think I read that would affect some 80000 households, makes it sound like regular folks eh...households...

But it would generate some $500 billion in 20 years.

Of course we'd need an exit tax for bolters...say 40%?

Edited April 21 by eyeball

[Moonbox]

The capital gains tax, on its own, isn't the worst policy out there.  It's clunky and further complicates our tax code, but it at least does two good things:

1)  It discourages housing speculation. 

2) It clamps down on a lot of the gaming that's done by the super-wealthy when it comes to corporations and the like.  

Both of these are good, but it's kind of a band-aid on a gunshot wound in regards to improving/adjusting our tax system.  We should be simplifying it, rather than further complicating it.  

Anyone who has a cottage and wants their kids to inherit better go by a nice fat last-to-die life insurance policy though...

[Moonlight Graham]

2 hours ago, eyeball said:

Strap 'em to a gurney so to speak? 

And they thought I was being cruel for suggesting an annual 1% wealth tax on anything over $10 to $100 million, 2% on $100 million to $1 billion and 3% on everything over $10 billion.

I think I read that would affect some 80000 households, makes it sound like regular folks eh...households...

But it would generate some $500 billion in 20 years.

Of course we'd need an exit tax for bolters...say 40%?

No.  I don't have any interest in punishing wealthy people in general or taxing them more for all capital gains.  I'm more interested in fixing the housing market.  So if you want more homes on the market and reduce demand to lower housing prices, it would be a good idea to eliminate the incentives of buying/owning homes among people that have bought them up as investment properties and don't live in them.  A way to do that is to increase the capital gains on homes that aren't primary residences.

This capital gains hike probably isn't going to do that very much.  I've heard it being talked about for a year or 2, the gov want the revenue to pay for their goodies.  Fortunately many of the evil people in this government will be unemployed soon.

Edited April 21 by Moonlight Graham

[Michael Hardner]

14 hours ago, I am Groot said:

Now I know what you're thinking. Conrad Black is not someone whose opinion you really care about. And often enough, neither do I. He can be a weird cluck in his continuing belief Donald Trump made a good president, not to mention endorsing Justin Trudeau back in 2015. 

He wrote a whole book. Praising Franklin Delano Roosevelt.  You have to understand that a certain point socialism becomes conservatism because there is a type of conservative who praises social programs as holding up status quo. 

This of you but I have even been accused of being on the left from time to time. 

..

In terms of taxation, we all have to take a pragmatic view of how to pay for programs without discouraging investment. That's all. 

It would be nice though if we could imagine some new way of making the world better that doesn't look backwards at Old solutions.  A neoliberal YouTuber I follow talked about publicly funded housing developments that are making 10% return. That's happening because developers have become too fat and turned down anything without a guaranteed 20% return. 

At that point, the system fails. Fails. Adam Smith's invisible hand test 

 

[Aristides]

10 hours ago, Moonlight Graham said:

The new capital gains tax should only be aimed at people selling non-primary residences, besides cottages.  All housing speculation should be disincentivized.

But that would only prevent the new buying of 2nd properties.  There should also be some kind of mechanism to get current 2nd home owners to sell those homes instead of holding them.  Just tax the crap out of the ownership of those homes until they sell so its no longer profitable.

If building homes as investments (rentals) is made unprofitable, why build them?

I’ve never heard of a tax on something that encouraged anyone to produce it.

Edited April 21 by Aristides

[Aristides]

Eventually we will come to the same point as the early nineties when creditors gave us an ultimatum and Chrétien/Martin had to slash spending. You can’t keep borrowing forever without your lenders eventually saying, enough.

[I am Groot]

14 hours ago, Moonlight Graham said:

The new capital gains tax should only be aimed at people selling non-primary residences, besides cottages.  All housing speculation should be disincentivized.

But that would only prevent the new buying of 2nd properties.  There should also be some kind of mechanism to get current 2nd home owners to sell those homes instead of holding them.  Just tax the crap out of the ownership of those homes until they sell so its no longer profitable.

Do you want to do away with the landlords entirely? Because that's not likely to produce more rental housing.

I know a couple who bought a duplex, lived in one half, fixed up the other, and then rented it out. Eventually, they took out a second mortgage, renovated it to be a triplex, then bought another house to live in. For years they worked at upgrading the triplex, and took care of repairing everything that needed repairing while dealing very fairly with tenants and paying down mortgages.

What exactly is wrong with this story? Other than that they just decided to sell it last year because it was becoming too complicated to deal with all the laws and because of a problem tenant they had issues with. They now eschew any involvement in renting as it's too encased in bureaucracy and regulations, and because if a wrong tenant gets in it can take forever to get rid of them.

14 hours ago, herbie said:

And yet the #1 criticisms of the budget have been
- there isn't enough money in it for transit
- disability program is too cheap
- no new money for the Forces
-etc. etc. etc. etc.

The number one criticism I have seen is it will discourage investment and thus further damage productivity.

Edited April 21 by I am Groot

[Zeitgeist]

15 hours ago, Moonlight Graham said:

The new capital gains tax should only be aimed at people selling non-primary residences, besides cottages.  All housing speculation should be disincentivized.

But that would only prevent the new buying of 2nd properties.  There should also be some kind of mechanism to get current 2nd home owners to sell those homes instead of holding them.  Just tax the crap out of the ownership of those homes until they sell so it’s no longer profitable.

In a big country like Canada, with the right regulations and a healthy economy, every Canadian middle class family should be able to afford a modest cottage and even an investment property.  That’s what we used to have and many middle class Americans have.  Instead our shrinking middle class is living in small homes on small lots.  Increasingly these are rented.  Young people aren’t having kids because they can’t afford them and many aren’t even considering owning a home, let alone an investment property.  Get the damn commies out of office, slash government programs, government bureaucracy, regulations, and taxes.  Restore the Canadian Dream.

[Legato]

5 minutes ago, Zeitgeist said:

 Restore the Canadian Dream.

Nightmare's occur just before you wake up, that's where we are.

[Zeitgeist]

15 hours ago, Moonlight Graham said:

The new capital gains tax should only be aimed at people selling non-primary residences, besides cottages.  All housing speculation should be disincentivized.

But that would only prevent the new buying of 2nd properties.  There should also be some kind of mechanism to get current 2nd home owners to sell those homes instead of holding them.  Just tax the crap out of the ownership of those homes until they sell so its no longer profitable.

So you think it’s more efficient and cost effective, and better for the wealth creation of citizens, to let governments run and own all rental housing?  Ah!!!!!  That’s why we left the Soviet Union.  

Edited April 21 by Zeitgeist

[blackbird]

22 hours ago, I am Groot said:

It really will take radical change to break us free from our complacency, and I just don't know if Canadians will accept a government that's willing to do it.

Well written.  Yes, many Canadians, that voted for Trudeau, Liberals, and NDP believe government should provide everything for them.  This is the sad reality.  The  idea of having to get an education and earn your own living is growing dimmer.

Unfortunately, the result is you end up with a government that believes in taxing more and providing more social services, and increasing the size of the public service.  These things are very difficult to reverse.  The Conservatives, who may win the next election, will not be in an enviable position because they could come out looking like that bad guys.  Trying to reverse Socialism is an uphill battle.  They will be criticized every step of the way.

Canadians have to decide whether they want to be a poorer country with a massive government, huge government debts to pay the interest on and get nothing for it, extensive government intrusion in business, corporate world, the economy, and everyone's lives.  They will have to decide if they want to continue paying more and more taxes, including increasing carbon taxes.  Or are they willing to give up some of these pipe dreams of Socialism and opt for free enterprise and lower taxes.  

The housing crisis and huge increases in the cost of food are all a result of the present government Socialist policies and intervention in the economy.

Edited April 21 by blackbird

[Moonbox]

5 hours ago, Aristides said:

Eventually we will come to the same point as the early nineties when creditors gave us an ultimatum and Chrétien/Martin had to slash spending. You can’t keep borrowing forever without your lenders eventually saying, enough.

Not just slash spending, but also hike taxes.  The only reason we have the GST is because Trudeau Snr spent frivolously, and now his dope of a son is doing the same thing (but worse).  

[blackbird]

15 hours ago, Moonlight Graham said:

The new capital gains tax should only be aimed at people selling non-primary residences, besides cottages.  All housing speculation should be disincentivized.

Why?  Investing in homes or real estate is no different than investing in any other businesses if the purpose is to earn a return on investment.  It won't solve the housing crisis by taxing people more.  More taxes is the wrong approach to help the economy.  We need investment and more economic growth and less government intervention and taxation.

[eyeball]

14 hours ago, Moonbox said:

Both of these are good, but it's kind of a band-aid on a gunshot wound in regards to improving/adjusting our tax system.  We should be simplifying it, rather than further complicating it.  

In addition to simplified tax systems we also need to make agreements with other countries that put everyone's tax systems on the same playing field so we can choke off the ability of wealth to play countries off against one another.

In addition to taxes on the rich we need sanctions against countries that refuse to get with the program and try to cater to tax avoidance and who embrace being chased to the bottom.