Canada Budget Deficit of over $29 billion dollars...

... and nobody has come to this board to complain about it.  Smiley Happy

 

Amazing!

 

Where are the Reform/Conservative supporters and card carrying members?

Message 1 of 18
latest reply
17 REPLIES 17

Canada Budget Deficit of over $29 billion dollars...

gauge33
Community Member

It's similar to the NDPers and the NDP MPs, there's hardly any Pierre!

Message 2 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

Have you also converted to the Liberals? 

 

Sending $10 a month to Trudeau instead of Harper?  Did you get your Christmas card?

Message 3 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

Liberal supporters better start contributing bigtime to help pay off the 100 billion the party has promised to add to the federal debt. The only hope is that promise is broken like so many other Liberal promises so our grandchildren won't be saddled with it.

 

Recently renewed a 5 year membership and contribution to the Conservatives. Rona sent me a nice card, she's hot!

Message 4 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

"the 100 billion the party has promised to add to the federal debt."

 

I think the word "promised" may not be accurate in that context! Smiley Happy

Message 5 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

100 billion projected then.

 

How to measure success in this brilliant undertaking when there are no milestones or benchmarks provided? Oh yea I see, just hope the gamble creates sustainable prosperity in the form of foreign investment and jobs.   

Message 6 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

gauge33
Community Member

It's the hidden nickel and dime moves in the Liberal budget that reach into your pocket and for most unknowingly. The budget will eliminate investing in corporate class funds as of this Oct 1st. Better check with your financial adviser to see if you have them already in your portfolio.    

 

One of the biggest surprises in the federal budget was a move to eliminate the ability of investors to defer taxes using corporate class funds. However, the move was softened somewhat by having the move take effect after September. Investors who own corporate class funds have six months to take advantage of the benefits of this investment vehicle and position themselves for the future.
Corporate class funds are targeted to investors who have used up their contribution room in tax-free savings accounts and registered retirement savings plans and want a tax-efficient way to invest. If you own corporate class funds, you can switch between funds within the same corporate structure without incurring a taxable gain. You will pay tax when you sell your holdings, but rebalancing can be done without any tax consequences. This is a benefit if, for example, you want to take profits from a high-flying equity fund and deploy them in other funds in the same corporate grouping.
If you own corporate class funds, think ahead to what you want your portfolio to look like when the tax deferral feature ends and work toward that in the months ahead. Rebalance aggressively by selling down winners and buying something undervalued. Aim to reach the drop dead date for corporate class funds with the precise asset mix that’s ideal for you.
The Investment Funds Institute of Canada isn’t happy about the government’s move to kill corporate class funds and plans to try and make a case for saving them with the federal Finance Department in the months ahead. Don’t expect a reversal. The Liberals have a history of identifying investments that work as a tax deferral or shelter and shutting them down.

 

Yep for sure that last statement, consider the family with young children split income tax advantage brought in by the Conservative government, gone with the Liberal budget!

Message 7 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

"The Liberals have a history of identifying investments that work as a tax deferral or shelter and shutting them down."

 

You are correct. 

 

When in power, the Liberals do regularly kill or modify tax expenditures created by Conservatives for the exclusive benefit of the rich and high income earners.

 

Is that a bad thing?

 

Is there something wrong for guys making lots of money paying taxes so the rest of the population does not have to pay for them?

 

It made a lot of sense to me for the government to increase income tax rate on those making more than $250,000 a year so many other Canadians can benefit from a lower rate.

 

It made sense to me to see the TFSA annual limit return to the previous level of $5,500 instead of the $10,000 election year increase given to the rich by Harper.  Yes, Mary and I will personally hurt by the change as we can afford to put $10,000 each a year in TFSA.  But. looking at the good of the country, most Canadians cannot afford to save $5,500 a year in TFSA, let alone $10,000. 

 

There is something called "social justice" where those better off pay for those not so well off.  That is something Reform/Conservatives supporters never understood.

 

 

Message 8 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

The Liberals brand of social justice (tax and spend) is borrow 100 billion for our grandchildren to pay off. The Conservative brand is fiscally responsible programs. And the NDP who knows, probably bankrupt the country.  

Message 9 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

"The Conservative brand is fiscally responsible programs."

 

That is not reality.

 

Please add up how much the Conservatives borrowed under Harper in their first five years in office:  much more than budgeted by the current government.

 

Ok - so you have an excuse for them - recession. So what.  By 2011 we were out of the recession for years and the Conservatives kept having budget deficits.

 

We also had a recession last year.  Revenues are way down now and the next many years with the price of oil dropping by more than 60%.  The same for many natural resources: copper, lead, zinc, etc...

Message 10 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

A look at the Conservative record under Harper

 

2008-09 deficit -5.8B adjusted -6.48B (beginning of the recession)
 
2009-10 deficit -55.6B adjusted -61.27B
 
2010-11 deficit -33.4B adjusted  -36.12B (2008-2009 recession was over by then)
 
2011-12 deficit -26.3B adjusted -27.82B
 
2012-13 deficit -18.4B adjusted -18.91B (still in deficit long after the recession was over)
 
2013-14 deficit -5.2B adjusted -5.26B
 
Add them up if your calculator can go that high!
You will notice that the Conservatives under Harper had the bad habit of underestimating the annual deficit year after year.  The actual numbers at the end of the year always came in larger than expected.
 
They sure make the Liberals look good when you look at the Conservative record.
Message 11 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

100 billion deficit when we're not in a recession. Experts are saying we may be due for another, let's hope not.

 

The longest recovery on record is the Bush-Clinton era one that ran from 1991 to 2000. It was followed by a seven-year recovery from 2001 to 2007. We are currently six years into a recovery from the Great Recession.

If the new norm is eight years, does this mean that our current recovery has two more years to go? Could it be said of the business cycle as with sports teams or a win or loss that we are due for a recession?

 

http://www.huffingtonpost.com/michael-moynihan/the-coming-recession-of-2017_b_5797688.html

Message 12 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

Nobody really cares about Clinton and Bush.... that is American history.  We are in Canada and yes we had a recession early last year under the Harper government with very little job creating in the last year of their mandate (2015).

 

KISS 

 

Harper has a worse record of annual deficits even when the recession was long gone than currently projected by the current Liberal government.for the next four years of investing in our economy infrastructure at twice the rate of the Harper government while lowering income taxes on middle income Canadians.  That one and half percent tax rate reduction has already gone into effect two months ago.  And all that while protecting your rights to income splitting as a senior.

 

Does it get any better than that?. Smiley Happy

Message 13 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

The article is talking about a world wide recession, not a little one restricted to Canada or did you not read the Liberal leaning Huffington Post business article.

Message 14 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

"Experts are saying.... "

 

Many of the same experts who - in a very large majority - complimented the federal government for going into a large deficit this year while interest rates are low. 

 

Now is the time to borrow at low rates for the long term to build assets that will last decades and increase Canadian productivity.

 

Harper has clearly demonstrated that having an annual deficit year after year and borrowing billions of dollars to lower corporate tax did NOT create all those jobs he promised.  In fact the employment record of the last ten years is dismal when you look at the job creation by large businesses in Canada. Most jobs were created by small businesses.

Message 15 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

Small business not happy, Liberals keeping corporate tax rate at 11%. Should go a long way creating jobs.Man Sad

 

The government also backed away from plans to reduce the small business corporate tax rate, a move that earned it the wrath of a leading small business advocacy group.

“It’s hard to see this as anything other than a broken promise or a lie,” said Dan Kelly, president and chief executive officer of the Canadian Federation of Independent Business.

 

Another broken promise.

Message 16 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...

Don't like it? Move. See how simple that is. Trump needs more support anyhow. It seems he believes women who have abortions should be punished. Of course he believes a lot of things.





Photobucket
Message 17 of 18
latest reply

Canada Budget Deficit of over $29 billion dollars...


@pierrelebel wrote:

... and nobody has come to this board to complain about it.  Smiley Happy

 

Amazing!

 

Where are the Reform/Conservative supporters and card carrying members?


I hear enough about it in Alberta...there's no need to come to the boards to complain about it.

Message 18 of 18
latest reply