Author Topic: Government Day-to-Day  (Read 14066 times)

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Offline Mr. Perfect

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Re: Government Day-to-Day
« Reply #225 on: February 13, 2020, 01:59:45 pm »
Revenues were up by 21 billion last year and the government still borrowed 14.6 billion. They spent 36 billion more than the year before.

That doesn’t refute a thing I said. 

Offline Gorgeous Graham

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Re: Government Day-to-Day
« Reply #226 on: February 13, 2020, 02:35:13 pm »
2% GST = $14 Billion to federal revenues. 

Thanks Harper.

Add 3% and the deficit is gone. 

Trudeau won’t do this though as it is more politically expedient not to raise taxes. 

But suddenly all the “fiscal conservatives” would cheer a balanced budget?   Heck no...   I bet they’d be on this forum ranting and raving about the tax burden, rather than their current deficit rants.

Harper was wrong to cut the GST%.  If he wanted to be fiscally conservative then cut spending and use that 2% to pay down the surplus at an even higher rate than Chretien did.

That said, Trudeau can't blame anyone for his own balance books, he can spend in any way he chooses and can tax in any way he chooses, he could have reversed that 2% GST cut as quickly as Harper got rid of it, he had a majority.
 
Actually if I had to choose i'd increase income taxes rather than increasing GST by 2% again.  GST & consumption taxes hurts the poor and rich alike.  But the burden on the middle and/or rich classes & exclude the poor.  I guess Trudeau and Morneau don't want to pay more taxes either.
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Offline wilber

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Re: Government Day-to-Day
« Reply #227 on: February 13, 2020, 02:36:37 pm »
That doesn’t refute a thing I said.

But, but, Harper. He hasn’t been PM for over four years. Bout time the new guy started taking some responsibility.
"Never trust a man without a single redeeming vice" WSC
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Offline wilber

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Re: Government Day-to-Day
« Reply #228 on: February 13, 2020, 02:38:39 pm »
2% GST = $14 Billion to federal revenues. 

Thanks Harper.

Add 3% and the deficit is gone. 

No it wouldn’t because it is all about debt to GDP with these guys.
If the added tax is a drag on the economy and reduces GDP growth, it could have the opposite effect.
« Last Edit: February 13, 2020, 02:40:12 pm by wilber »
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Offline ?Impact

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Re: Government Day-to-Day
« Reply #229 on: February 14, 2020, 09:20:52 am »
Since elected he has added 50.8 billion to the debt. The government's own fall update is forecasting adding another 95.2 billion to the debt by the 2022/23 fiscal year with an additional 28 billion in borrowing for the two years after that. That will be an addition of 146 billion to the national debt by the end of the 2022/23 fiscal year and 174 billion forecast total by 2025. Nearly a 25% increase in the debt by 2023. He is on track to add more to the federal debt than any PM who has not had a major recession or war during their tenure.

Mulroney added more debt than that during his first 6 years in office before the 1991 recession.

Offline wilber

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Re: Government Day-to-Day
« Reply #230 on: February 14, 2020, 11:36:35 am »
Mulroney added more debt than that during his first 6 years in office before the 1991 recession.

True but the eighties also had the highest global interest rates in history, we now have the lowest.. One result was Chretien and Martin made major changes in transfers putting more burden on provinces for things such as health care. Right now JT is on track to add about the same amount to the debt as his father, who had the 81 recession to contend with.

In his first four years, Mulroney added a bit less than PET in his last four. In his year as PM, Joe Clark actually added less than either of them did in any year they were in office. His minority government got turfed from office because he wanted to increase fuel taxes. Now we have a carbon tax.
« Last Edit: February 14, 2020, 12:06:52 pm by wilber »
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Offline JMT

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Re: Government Day-to-Day
« Reply #231 on: February 14, 2020, 08:15:59 pm »
True but the eighties also had the highest global interest rates in history, we now have the lowest..

If interest rates go up, borrowing costs will increase.  Pension obligations will fall.  The effect at this point would be a wash.

Offline wilber

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Re: Government Day-to-Day
« Reply #232 on: February 14, 2020, 08:57:15 pm »
If interest rates go up, borrowing costs will increase.  Pension obligations will fall.  The effect at this point would be a wash.

If interests rates go up, government debt will go up, real estate prices will tank and people will be going bankrupt and walking away from their homes because they are mortgaged for more than they are worth. That's what happened in the eighties.

Pension plans will do well though.
"Never trust a man without a single redeeming vice" WSC

Offline waldo

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Re: Government Day-to-Day
« Reply #233 on: March 02, 2020, 01:16:51 pm »
last fall, given election campaign conflicts, PM Trudeau asked former Progressive Conservative PM Joe Clark (as well as former PM Jean Chretien) to represent Canada at the UN General Assembly. And now PM Trudeau again reaches across the partisan divide to appoint former PM Joe Clark as special envoy for Canada's bid for a UN Security Council seat. 

a relatively recent pic of Joe Clark (itself a part of an interesting pic of living Prime Ministers who came together for John Turner's 90th birthday... those missing sent their best wishes/regrets for not attending - Harper, Mulroney, Campbell):





 
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Offline waldo

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Re: Government Day-to-Day
« Reply #234 on: March 09, 2020, 07:30:25 pm »
weakAndy and an assortment of ConMedia have been pumpin' the "Canada is broken" nonsense in recent weeks. No - Canada is not broken... thank you very much!

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Offline Gorgeous Graham

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Re: Government Day-to-Day
« Reply #235 on: March 09, 2020, 07:42:28 pm »
Most indigenous protestors lighting fire to sh!t and blocking key infrastructure:  Canada
Most sub-national territories wanting to separate:  Canada
Most investors fleeing their country:  Canada

 ;D
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Offline Omni

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Re: Government Day-to-Day
« Reply #236 on: March 09, 2020, 07:57:57 pm »
Most indigenous protestors lighting fire to sh!t and blocking key infrastructure:  Canada
Most sub-national territories wanting to separate:  Canada
Most investors fleeing their country:  Canada

 ;D

Well for starters, have you ever heard of a country called India?
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Offline Gorgeous Graham

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Re: Government Day-to-Day
« Reply #237 on: March 09, 2020, 08:28:07 pm »
Well for starters, have you ever heard of a country called India?

No.
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Offline Omni

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Offline MH

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Re: Government Day-to-Day
« Reply #239 on: March 09, 2020, 08:52:04 pm »
I rest my case.

Your case is beyond rested... it's napping soundly.  I think Canada could be better ... and there are other places that are nice to live.  But most aren't as good IMO.