Canada's Being TAXED Out Of Existence! - Trudeau Raises Taxes AGAIN!

a reply to: intrepid

Size. Growth rates are higher in developmental stages and lower as said country reaches towards equilibrium.

Canadian GDP is only 8% of the USA's. Their growth rate should be much higher to be considered 'better' than ours.

Edit: USA grows by $556 billion compared to Canada's $75 billion, yearly.

Either Canada has nearly peaked, or the USA is a power HOUUUUUUUSE.

a reply to: audubon

Taxing the middle class out of existence moron. Creating increasingly greater income inequality all with a singular goal. Making way for a total control of the populace through government controlled by a few.

Jaden

originally posted by: chadderson


Edit: USA grows by $556 billion compared to Canada's $75 billion, yearly.

We have 1/9 of your population. If you go by that math we ARE out performing the US.

originally posted by: JDmOKI
a reply to: Skywatcher2011

Utopia is easy

You need high taxes on the middle class and lower class and tons of immigrants bypassing all immigration laws and language police to make sure your citizens follow you moral code

Trudeau will be a prime example of progressive policies imploding a country.

But hey he sure is handsome spending other people's money

Canada (or Toronto, at least) was like that in the mid-1990's. There would be long queues of people outside the American embassy, queuing to get their visas and passports processed to visit the USA. Many didn't speak English or even understand the process of queuing. Canadian economy is based on property like apartment units and condominiums.

originally posted by: chadderson
Growth rate cannot be compared.

That's rubbish, and the rest of your post is redundant.

originally posted by: Bluntone22

originally posted by: carewemust
a reply to: Skywatcher2011


Did you know that there are people in this country who want the USA to be more like Canada?

I do like fries and gravy.

Canada does have some very good traits. I for one would love to have their immigration policy.
But having a population smaller than California might make some things easier and some things harder.

When I get home I'll have to look up Canada's immigration policy to see why it's so appealing to you. I read last week that hundreds of thousands of people who came to the US illegally are now making their way into Canada.

originally posted by: audubon
*Ahem* I hate to interrupt another fixated rant about the evils of taxation, but you might like to look at how the Canadian economy is performing.

Annualised GDP growth rate of 4.5 per cent. As one economist put it: "Wow. There seems to be no stopping Canada of late."

So, not only is Canada not being "taxed out of existence", it is outperforming the USA, whose most recent GDP growth was 3.0 per cent.

So even with higher taxes Canada's growth is 150% of the USA's, in case this needs spelling out. It's almost as if fairly-distributed taxation, used wisely, can improve the economy of an entire nation... nah, forget I said that, it's clearly not true at all.

And in order to achieve this growth, he is plunging us into massive debt.

He promised a 'modest' 10 billion first year deficit before election. Immediately after? Sorry, 30 billion. Now he is projecting massive yearly deficits instead of the budget magically 'balancing itself'.

He is a failure who will plunge future generations into enormous debt, high interest rates for borrowing, and painful austerity.

originally posted by: JohnnyCanuck

originally posted by: audubon
*Ahem* I hate to interrupt another fixated rant about the evils of taxation, but you might like to look at how the Canadian economy is performing.

Annualised GDP growth rate of 4.5 per cent. As one economist put it: "Wow. There seems to be no stopping Canada of late."

So, not only is Canada not being "taxed out of existence", it is outperforming the USA, whose most recent GDP growth was 3.0 per cent.

So even with higher taxes Canada's growth is 150% of the USA's, in case this needs spelling out. It's almost as if fairly-distributed taxation, used wisely, can improve the economy of an entire nation... nah, forget I said that, it's clearly not true at all.

And somehow we manage to maintain a civil society with benefits such as Universal Health Care, and I can't seem to find anybody who wants us to become the 51'st state. Our standard of living is good. That's why conservatives tend to have to shriek to get paid any attention.

And one really needs to consider the sources of such whinging and clutching of pearls...the Toronto Sun is stupid news for stupid people, and rarely is the front page anything other than a boldfaced, ever-changing variation of "Are You Still Beating Your Wife?".

Projection issues?

On the topic of "beating your wife", it is the brain dead PM Justin Trudeau who "stupid Liberal people" voted for that just appointed a "husband beater" for Governor General; she was even arrested for it:

www.thestar.com...

Under the Conservatives, Canada had health care AND a budget surplus, which Justin turned into a $30 BILLION DEFICIT in just ONE year, and to top it off, this huge deficit was not caused by a recession but by EPIC drunken sailor spending.

But YOU go on to defend this gross incompetence - who, again, is "stupid" ? ...might want to think that one over...good luck...

DP

originally posted by: nightbringr
And in order to achieve this growth, he is plunging us into massive debt.

He promised a 'modest' 10 billion first year deficit before election. Immediately after? Sorry, 30 billion. Now he is projecting massive yearly deficits instead of the budget magically 'balancing itself'.

He is a failure who will plunge future generations into enormous debt, high interest rates for borrowing, and painful austerity.

A debt isn't the same thing as a deficit. It is quite possible to run a deficit for several years in succession and still improve the economy (as has happened, so far). It all depends what you do with the deficit money - if you are spending it wisely, it will mature and your economy will reap the benefits further down the line (which, of course, can help narrow the deficit).

Newspapers like to kick up a fuss about deficits, mainly because most journalists don't understand how the economy works. To be fair, economists disagree about how the economy works, too.

But one thing the media does is very irresponsible - which is to kid the public that the economy runs like a household budget, in which income has to at least match outgoings in order to avoid poverty. Economies are vastly more complex than household budgets, to the point at which comparing the two is absolutely invalid.

So far, Trudeau's "structural deficit" is paying off. He's stimulating the economy and it is responding very well indeed, hence the GDP growth of 4.5%. The risk involved is that some new financial disaster like the 2008 crash could suddenly knock his plan off course before he can close the deficit in a few years, as he intends to do. But hey, that's life - everything is a gamble, even for governments.

a reply to: Skywatcher2011

All western countires are doing this so the quesiton to ask is why and where is all the money going?

As I see it there is only 2 reasons for this.

All these countries have either voluntirily or have been compelled to raise taxes to pay for secret global projects of some sort or, to enable corporate sector tax rates to be reduced to zero and perhaps even fund corporate bonus (welfare) payments of some kind.

Somebody has to take up the slack dont they and the masses are the easist to get it from ?

a reply to: Skywatcher2011

LOL Canada is a socialist country,a perfect example of how long a country can exist taking everyones money,then giving everyone equal amounts,then tell every immigrant they can come live off the workers money,gee how could this fail?

a reply to: audubon

So a couple of points were brought up, so I will try and do my best to address them all.

1) Canada's GDP is better than the U.S.A. - Absolutely not. Private debt to GDP Ratio tells the story a bit better. Canada is 3rd place behind Hong Kong and China. What does this mean ? Well, it means that all this growth is coming from leverage and borrowing rather than increase in production. China is leveraged, but they produce much more than Canada.

Source 1 : tradingeconomics.com...
Source 2 : www.huffingtonpost.ca...

2) Deficit is not debt - You are right. Unfortunately Canada is running both a deficit and a massive debt. To make matters more complicated, real estate prices are dropping in Canada (by design or not) and this will make the deficit even worse due to less taxes on property (due to lower value).

Source 1 : www.huffingtonpost.ca...
Source 2 : beta.theglobeandmail.com...://www.theglobean dmail.com&
Source 3 : business.financialpost.com...

3) Trudeau is gambling on growth - No. Trudeau has no choice but to raise taxes on someone. BaC are raising interest rates which means less growth and more interest on debt. Income from housing is in decline. Debt is rising. Deficit is increasing not because he is gambling, but because of more debt financing and lower tax income due to housing decline. This is all public information on BaC website or federal reserve website.

Canada is not in a good place right now. Moody's downgrade, Home Capital (mortgage lender) is in trouble, over leveraged, high debt, budget deficit, low oil prices and global shift away from oil, real estate and credit crunch, and the list goes on. I hope that our neighbors to the north fair well, but honestly cant see how you can seriously say Canada is doing great or better than the U.S.A..

originally posted by: audubon

originally posted by: nightbringr
And in order to achieve this growth, he is plunging us into massive debt.

He promised a 'modest' 10 billion first year deficit before election. Immediately after? Sorry, 30 billion. Now he is projecting massive yearly deficits instead of the budget magically 'balancing itself'.

He is a failure who will plunge future generations into enormous debt, high interest rates for borrowing, and painful austerity.

A debt isn't the same thing as a deficit. It is quite possible to run a deficit for several years in succession and still improve the economy (as has happened, so far). It all depends what you do with the deficit money - if you are spending it wisely, it will mature and your economy will reap the benefits further down the line (which, of course, can help narrow the deficit).

Newspapers like to kick up a fuss about deficits, mainly because most journalists don't understand how the economy works. To be fair, economists disagree about how the economy works, too.

But one thing the media does is very irresponsible - which is to kid the public that the economy runs like a household budget, in which income has to at least match outgoings in order to avoid poverty. Economies are vastly more complex than household budgets, to the point at which comparing the two is absolutely invalid.

So far, Trudeau's "structural deficit" is paying off. He's stimulating the economy and it is responding very well indeed, hence the GDP growth of 4.5%. The risk involved is that some new financial disaster like the 2008 crash could suddenly knock his plan off course before he can close the deficit in a few years, as he intends to do. But hey, that's life - everything is a gamble, even for governments.

A debt IS what is accrued when you run a deficit. Not sure what you are on about there. If your balance is even, your run a deficit for one year, you are now in debt, and most importantly, you (or your children) must now pay interest on said debt. Money isn't free. Deficit spending in times of economic growth is irresponsible. The IMB knows it, that's why our interests rates have gone up under Trudeau. What you and our P.M. have forgotten is something called fiscal responsibility.

And he will never 'close the debt ' as you have stated. He has lied about all budgets so far and is now making life more difficult for those he swore to protect, the middle class. Why should we believe anything he says?

a reply to: nightbringr

Trudeau who? Can't somebody just... tickle him to death?

I am Canadian and would love nothing more to move to the US! BTW - our healthcare system is a joke UNLESS you have cancer or heart issues.

originally posted by: audubon
*Ahem* I hate to interrupt another fixated rant about the evils of taxation, but you might like to look at how the Canadian economy is performing.

Annualised GDP growth rate of 4.5 per cent. As one economist put it: "Wow. There seems to be no stopping Canada of late."

So, not only is Canada not being "taxed out of existence", it is outperforming the USA, whose most recent GDP growth was 3.0 per cent.

So even with higher taxes Canada's growth is 150% of the USA's, in case this needs spelling out. It's almost as if fairly-distributed taxation, used wisely, can improve the economy of an entire nation... nah, forget I said that, it's clearly not true at all.

Omg you commie socialist blah blah blah.

How dare you suggest such a thing!!!

originally posted by: HanSolo31
1) Canada's GDP is better than the U.S.A. - Absolutely not. Private debt to GDP Ratio tells the story a bit better.

It's another way of looking at the economy, depending on why one wants to look at the economy in the first place, but Canada's GDP/debt ratio has been high since long before Trudeau took office (2015). Two years isn't long enough to extrapolate a trend unfolding in the GDP/debt ratio, and we all have to wait and see how this plays out.

3) Trudeau is gambling on growth - No. Trudeau has no choice but to raise taxes on someone. BaC are raising interest rates which means less growth and more interest on debt. Income from housing is in decline. Debt is rising. Deficit is increasing not because he is gambling, but because of more debt financing and lower tax income due to housing decline. This is all public information on BaC website or federal reserve website.

If Trudeau isn't gambling on growth, then he has managed to achieve impressive growth by accident while increasing public expenditure for some unknown purpose. That idea seems far-fetched, doesn't it.

It's certainly true that Canada is experiencing a housing bubble, and that all bubbles burst eventually. The question is how severe the knock-on effects could be. The Canadian govt has taken steps to mitigate the risk. But generally if you predict an economic disaster for long enough, you'll be proved right eventually.

In response to the claim in this thread's title ("Canada is being taxed out of existence"), my answer is "what rubbish!" and I've shown why I believe that (along with a few economists). As for the broader question of whether Trudeau's strategy will play out well, fizzle out, or be derailed by some unexpected economic mishap, I'm prepared to wait and see - because none of us has much choice.

originally posted by: audubon
*Ahem* I hate to interrupt another fixated rant about the evils of taxation, but you might like to look at how the Canadian economy is performing.

Annualised GDP growth rate of 4.5 per cent. As one economist put it: "Wow. There seems to be no stopping Canada of late."

So, not only is Canada not being "taxed out of existence", it is outperforming the USA, whose most recent GDP growth was 3.0 per cent.

So even with higher taxes Canada's growth is 150% of the USA's, in case this needs spelling out. It's almost as if fairly-distributed taxation, used wisely, can improve the economy of an entire nation... nah, forget I said that, it's clearly not true at all.

don't bring facts and figures into it, a bias and undercooked youtube video is more than enough evidence around here.

originally posted by: Skywatcher2011
Looks like airhead Trudeau is once again decimating the country by raising taxes, this time, on small businesses.
It seems like his millionaire donors and lobbyists of large companies are wanting to take out smaller businesses.
Tax is not bad if the government uses it wisely and charges but, but going after entrepreneurs and start ups is just a plain joke.!

I smell astroturf...and here's another take on the proposed changes...War on taxes