Federal Budget
- Thread starter saxon
- Start date
The NDP (of course) and now the Liberals have adopted a page from Jack Layton's playbook. Paraphrasing: "Tax cuts only benefit people who pay taxes."
I like the TFSA increase to $10,000 (wish it was higher). My broker told me the increased limit is effective immediately (is that true?).
And this one in particular only benefits those who have a 'spare' $10K lying around after they've paid theirs. And who expect to still be in the same — or higher — bracket when they cash out their TFSA.
Meantime, the problems caused by the increasing numbers of folks having too small an income to pay taxes are not being dealt with, because for some reason no one foresaw, it seems there's no money in the Treasury to fix those problems. Or to buy the patrol icebreakers, and establish a year-round port in the high Arctic to assert our sovereignty. Or …
But I'm forgetting, we're giving our sovereignty away piecemeal 'cause it's cheaper than having our own border police where they're needed.
Oh well! Selfish and stupid excuses everything.
My broker sent a copy of his firm's write-up on the budget to me. I noticed that the income tax rate on small businesse is scheduled to be cut from 11% to 9%.
Paraphrasing the late great Jack Layton: "Cutting income taxes on small businesses only benefit those small businesses that pay taxes."
Paraphrasing the late great Jack Layton: "Cutting income taxes on small businesses only benefit those small businesses that pay taxes."
No matter how you slice and spin it, I can think of almost 12 billion reasons it's better than than what Sousa & Wynne are about to table in Ontario. Let's see, the financial crisis of 2008 has long been over and while the Feds are back in the lack, the Ontario liberal's are firmly I the red and are proud of it.
This budget is based on lies. If you believe that the Cons have balanced the budget, I've got an apartment complex in Aleppo you can buy.
They had to raid the contingency fund and sell of GM stocks while we are facing a declining economy after Harper's move to turn Canada into a petro state.
This is his first balanced budget, he took a $50 billion surplus and spent it and its taken up to now just to start paying for it.
The chances that his surplus is real or could continue into the next year are slim to none.
Frank, $50 billion surplus? I think you might want to check your figures.
Speaking of checking figures, I've heard (though haven't confirmed) that the budgetary projections are based on $75/barrel oil, while it's presently in the $50 -55 range. I'd question whether that's realistic.
Funny you should be paraphrasing Jack Layton. The cut of the small business tax rate was first suggested by the NDP, and adopted by the Conservatives. Now we know where their best ideas come from.
Whoops, you are correct, I was going of memory.
I checked and the $50 billion number I remembered comes from Harper's record, from a $13 billion Paul Martin surplus he inherited to his $55 billion deficit he gave us in 2009.
So really I should be saying Harper gave us a $50 billion deficit from an inherited $13 billion surplus, losing the government $70 billion dollars in only 3 years.
That is more accurate, sorry.
Harper managed to best even Trudeau on deficit.
http://www.cbc.ca/news2/interactives/canada-deficit/
In what year did Canada post a 50 billion dollar surplus? Last I read it was 8 billion, and where did that come from? In case you don't know, it came from our pockets and from massive cuts to social services at the hands of the liberals. Under Harper, transfers to the provinces have increased, Not decreased. And what does it matter how they balanced the books, when you go out for dinner do you care how your meal was cooked, be it on a gas grill or over charcoal? All that matters is that the chicken is cooked when it gets to the table.
Apologies, I posted a correction above.
I should have said Harper took us from a surplus to a $50 billion deficit.
Harper did increase provincial transfers but as usual did so only to provinces where he thought it might win him some votes, so Ontario has for the most part suffered while Alberta gets more money.
......I suppose you slept through the crash of 2008? Yes, Harper did what he had to do to soften the blow, would you rather he had done nothing and let GM, Chrysler tank and with them all those jobs at places like Magna, Linemar and other parts suppliers? I see that McGuinty also ramped up spending during that period, only the liberals did nothing to stop the overspending. As far as targeted transfers, I see Ontario is receiving scads of cash as it's become a have not province at the hands of the liberals. Don't take me wrong, I love the Ontario Liberals, they will prove to be Harper's most valuable weapon in the upcoming election. They'll all but gift wrap another majority for Harper with thier ineptitude and arrogant social engineering.
I used to hear the same arguments against Bob Rae in Ontario, that he lead us to deficit. But the same could be said of him, he took us through a massive recession.
Is that a fair comparison?
And unlike Harper, young Bobby hadn't loudly promised his government would never run deficits.
And this surprises you ? Harper left Ontario and became enamoured for the west heading up a 'western' alliance (Reform party) that argued for more power for the western provinces. He is a slimy little snake with no alliances other than forwarding his career. Associated with Liberals, then conservatives and dropping them when the Reform party was gaining attention for demanding decentralized federal government with more power to the western provinces. His loyalty is all over the map having once voted for long gun registry before realizing the benefits of opposing it. He voted against the rights of same sex couples hoping to strengthen the laws against it ( thus the seed for his puritanical approach to prostitution).
How power hungry is this arrogant asshole ? He prorogued (suspended democracy) the will of the elected representatives when he thought he might loose power. (BTW: I hated the alternatives but it was no excuse to suspend democracy.) Prorogue was dangerous but Harper has used since then and if he looks like he would loose the next election - I have no doubt he would use it again. He is a little Hitler when it comes to holding on to power.
I have no idea about the alternative choices but I hope for a Liberal minority government and give the young guy a chance that can be reversed (non-confidence vote). Of course with Harper's low opinion of democratic votes and individual freedom - I'm sure he is eyeing a dictatorship as an alternative.
No one mentioned that balancing the budget was done by clawing back $2 billion from the emergency fund but in the arrogant mind of Harper - his election is work the $2 billion.
Trudeau today stated he will cancel the doubling of the TFSA if he's elected. He just wants Canadians to have less of a chance to keep their money out of the Liberals tax and spend policies.
I hear you. Allow me to rephrase the paraphrase. "Businesses that pay the least amount of taxes should pay even less tax while businesses that pay the most taxes should pay even more tax. It's only fair."
