Budget Talk

[jdobbin]

Harper made his B.C. announcement on environmental money. The province gets $200 million.

Interestingly, the Feds keep calling it the Eco-Trust which is already a registered name in the country. Guess they need to be reminded of copyright, trademarks and the like in Canada as well as the U.S.

http://www.cbc.ca/canada/story/2007/03/13/ecotrust.html

Many on the right still are fighting against what they call liberals for dealing with climate change. How many announcements do the Tories have to make before they realize that Harper is now the prime minister and he is doing what they don't believe in?

[jdobbin]

Economists weigh in on the budget.

http://ca.news.yahoo.com/s/capress/070314/...dbudget_economy

Economists from Global Insight told clients at a briefing Wednesday that the Canadian economy will grow by 2.2 per cent this year - down from 2.7 per cent last year - and Monday's budget will do little to speed the recovery from a poor fourth quarter in 2006.

"If your primary motivation is to strengthen the economy and improve productivity, you don't do what we know is in this budget," said Dale Orr, managing director of the firm's Canadian operations.

"You don't give billions in transfers to provinces for the fiscal balance, for one."

Fiscal federalism has rarely worked for a government. There is no end for what provinces want and no way to satisfy their appetites.

[jdobbin]

Budget day tomorrow.

Some previews of what might be coming:

http://www.thestar.com/News/article/192964

It's expected to bring some savings in taxes for most Canadians – both through a modest across-the-board tax cut and the Conservatives' so-called "tax-back guarantee." The latter, a commitment to return to taxpayers in the form of tax reductions any savings on interest payments achieved by reducing the $480 billion national debt, is a catchy idea. But it will only provide $30 or $40 in tax savings per person this year.

Beyond that, Flaherty will introduce a refundable tax credit designed to keep Canadians at the lowest end of the income scale from being penalized by the tax rules when they move off social assistance to take a job.

And for the rich, Flaherty is expected to fulfill the Conservative election promise to ease taxes on stock market profits and other capital gains.

There will also be some huge spending announcements as well.

[Saturn]

It's expected to bring some savings in taxes for most Canadians – both through a modest across-the-board tax cut and the Conservatives' so-called "tax-back guarantee." The latter, a commitment to return to taxpayers in the form of tax reductions any savings on interest payments achieved by reducing the $480 billion national debt, is a catchy idea. But it will only provide $30 or $40 in tax savings per person this year.

Beyond that, Flaherty will introduce a refundable tax credit designed to keep Canadians at the lowest end of the income scale from being penalized by the tax rules when they move off social assistance to take a job.

And for the rich, Flaherty is expected to fulfill the Conservative election promise to ease taxes on stock market profits and other capital gains.

Yes, isn't that great? Allow the 2% of Canadians who own half the capital in the country to reinvest and pay no capital gains taxes for life and the remaining 98% get $100/yr. And all that at the cost of only $5 billion a year.

[jdobbin]

Yes, isn't that great? Allow the 2% of Canadians who own half the capital in the country to reinvest and pay no capital gains taxes for life and the remaining 98% get $100/yr. And all that at the cost of only $5 billion a year.

I think its called "trickle down" economy.

[Wilber]

Yes, isn't that great? Allow the 2% of Canadians who own half the capital in the country to reinvest and pay no capital gains taxes for life and the remaining 98% get $100/yr. And all that at the cost of only $5 billion a year.

I think its called "trickle down" economy.

Everything I have invested outside of a RRSP was with after tax money. I won't complain if I get a bit of a tax break on anything I make when I sell it.

[jdobbin]

Everything I have invested outside of a RRSP was with after tax money. I won't complain if I get a bit of a tax break on anything I make when I sell it.

I'm sure you won't. But is it the most effective tax cut out there?

[Saturn]

I think its called "trickle down" economy.

That's the claim. But it don't trickle down.

[NowDefeatPoverty]

I can't wait until the boomers retire. I wonder if this reduced tax-base will yields seniors freezing and starving to death on the streets, like what will inevitably happen to some of our American brethren?

That's okay, as long as Howey the retarded cowboy can afford another SUhorse. Who will pay to truck water to Calgary when the Bow dries up? Who will pay producers and manufacturers to diversify their exports?

[Canadian Blue]

Who is Howey?

[Curiouscanuck]

Everything I have invested outside of a RRSP was with after tax money. I won't complain if I get a bit of a tax break on anything I make when I sell it.

I'm sure you won't. But is it the most effective tax cut out there?

Capital gain tax is one of the most if not the most damaging to the economy.

http://72.14.205.104/search?q=cache:8P69h8...clnk&cd=2&gl=ca

[NowDefeatPoverty]

Who is Howey?

Harper's most trusted foreign affairs advisor. He was the one who councelled Harper to support invading and bombing Iraq and Lebanon. Howey also makes fridge drawings for Steven and Dubya (have to wipe off the drool 1st). Now Howey has 2% more income. Too bad instead of daycare, Johnny will have to go get raped by his friend's sick father, after school. At least Harper is building Johnny some prisons for adulthood.

[Curiouscanuck]

I think its called "trickle down" economy.

That's the claim. But it don't trickle down.

I am going to argue that eliminating this tax and increasing taxes somewhere else aimed at the same demographic somewhere else is more Pareto efficient.

Capital gains tax has got to go.

If this is in the budget it will big a giant step to international recognitions.

[Canadian Blue]

NowDefeatPoverty, go see a psychologist ASAP. I think you're suffering from mean world syndrome.

[jbg]

NowDefeatPoverty, go see a psychologist ASAP. I think you're suffering from mean world syndrome.

How about Baylee's Disease? In any case, reported.

[Saturn]

Capital gain tax is one of the most if not the most damaging to the economy.

http://72.14.205.104/search?q=cache:8P69h8...clnk&cd=2&gl=ca

LOL! Figures you'd have "learned" that from the Fraser Institute.

[Saturn]

NowDefeatPoverty, go see a psychologist ASAP. I think you're suffering from mean world syndrome.

How about Baylee's Disease? In any case, reported.

Who the heck is Baylee and why is every new poster on this board accused of being Baylee?

[Curiouscanuck]

Capital gain tax is one of the most if not the most damaging to the economy.

http://72.14.205.104/search?q=cache:8P69h8...clnk&cd=2&gl=ca

LOL! Figures you'd have "learned" that from the Fraser Institute.

Thanks for almost contributing.

I have shown you that capital tax is an effective tax for the economy to cut. Show me otherwise.

This is a short briefing:

http://www.heritage.org/Press/NewsReleases/NR050603.cfm

[Topaz]

IF what the press is saying about the budget is TRUE, then I hope the other parties will approved it for CANADIANS not for the Harper! Even thought I'm not impress with this government, I do see things that could help the lower and middle income earners. IF Harper wants a election let him call it himself or wait until the next budget and bring down the government. I think the war, as it get further along , will bring him down anyway.

[Wilber]

Who the heck is Baylee and why is every new poster on this board accused of being Baylee?

This forum's equivalent of Whack a Mole.

[jbg]

IF Harper wants a election let him call it himself or wait until the next budget and bring down the government. I think the war, as it get further along , will bring him down anyway.

A minority PM cannot call an election. He has to be defeated on a budget vote or non-confidence motion.

[Wilber]

IF Harper wants a election let him call it himself or wait until the next budget and bring down the government. I think the war, as it get further along , will bring him down anyway.

A minority PM cannot call an election. He has to be defeated on a budget vote or non-confidence motion.

Actually he can unless the opposition could somehow combine to cobble up a coalition, but they wouldn't need an election to do that. Harper has committed himself to fixed term elections so the only way around that without breaking his word is to somehow be defeated on a matter of confidence.

[guyser]

Capital gains tax has got to go.

I for one hope you are right. If it applies to secondary housing then all the better. Means I can move the cottage into a trust . (not sure but I hope so)

Big savings for my family.

[August1991]

A minority PM cannot call an election. He has to be defeated on a budget vote or non-confidence motion.

The GG dissolves parliament as advised by the PM. Harper can do this anytime he wants and the GG would have to follow orders.

Harper won't do this though since he wants a majority.

The last time we had three elections in three years was 1962, 1963, 1965. Pearson never got a majority.

[blueblood]

Looks like it's a go, the Bloc is supporting it, very interesting.