21 Replies to “Tax Flash Bulletin”

  1. Wow! Alberta is becoming a very expensive place to do business in this world. We’re hooped. At least we are getting the NDP promise to diversify the oil economy. We are diversifying into poverty.

  3. I don’t understand why anyone would believe that rolling back TFSA contributions is good for the country. I guess the blood-sucking Liberals don’t want people to save for the future.

  4. Most leftist governments believe that personal savings should always be in play (for them…) and will create mechanisms that will allow them to either access your funds directly or prevent you from creating savings.
    This is standard fare for them.

  5. Just remember that there is nothing that the government can’t hopelessly screw up and waste money on. Giving them more control, and hence, more money, is just asking for mismanagement and more requests for funds. Government, particularly big government, exists to serve itself and only becomes that way because we give it our permission.

  6. Nah, they’ll complain that “Canadians aren’t saving enough for retirement” and boost your CPP rates….or Kathleen will do it with an ORPP, that the ROC will be finagled to pay for too.
    Does anyone posting here get the impression now that our governments, both provincial & federal are “at war” with their constituents…. as in economic warfare? Take these “carbon taxes”, or schemes, they are really a “tax on living, or life itself” & it appears to me that they want to wreck their economies, starve you, or drive you to slashing your wrists & the throats of your kids because of the effects of “carbon taxes” on your lively hoods & well being….so that they can continue (and I include the vast horde of “takers” here…civil serpents) to live at your expense for now, but planning to continue to live when you’ve been eliminated from the face of this planet. They seem gleefully to aid our various political masters in their quest for elimination of anyone deemed “surplus” to society or the advancement of the human condition. You’ll be nickled & dimed to death.
    Does anyone get the feeling that they want you & yours dead? By your own hand that is. Hoorors if they were ever to actually get their grubby little hands dirty, offing you & yours on an industrial scale. Nah, they’ll just make it difficult for you to stay alive in this country, by consuming & breathing the air. It will be taxed right up until you run out of cash.
    Then what?

  7. You may recall, years ago when Comrade Ed Broadbent was “leader” of the NDP, and he proposed a “one time tax” (aren’t they always just “one time”) of 10% of people’s RRSPs……just to help the economy along, you understand. It is the sole duty of leftists to make certain that people become entirely dependent on central government to “look after them”. Because as we ALL know, governments are so good at stuff like that.
    “If the natural tendencies of mankind are so bad that it is not safe to permit people to be free, how is it that the tendencies of these organizers are always good? Do not the legislators and their appointed agents also belong to the human race? Or do they believe that they themselves are made of a finer clay than the rest of mankind?” – Frederic Bastiat

  8. It is the logical consequence that ideologies with “build-in” control feature attract psychopathic individuals.

  9. I was going to mention the same thing. Did the govt. think that these marginal rates are not going to have a powerful effect on investment choices, tax-planning, and level of earned/taxable income?

  10. Yes, agreed, especially with their effect on corporate decisions, like paying dividends to owners. These are significant increases, for example 29-33% is a nearly 14% hike. That obviously affects all kinds of consumptions and investment decisions. Then the revenue is lower than “anticipated” – usually a straight line assuming for instance a 14% increase in revenues from incomes over $200K. That has to pay for the middle class tax cut, so immediate or deferred tax increase compensates; then that affects consumption; and down the line it goes. Statists will never get that with their fatal conceit their intervention actually increases economic output, thus prosperity and liberty. In reality, at some point civil society chooses and limits government to allow spontaneous order (aka ordered liberty) to facilitate economic freedom and prosperity (it police, military, political institutions).
    We are decades if not centuries past that point. Now statists tax the most productive to give to general revenues; how can that increase economic output. We invariably get a transaction of decline, and for what? Forget the misnomer of government “investment.” and it’s implication of a return or profit. That is impossible with present statism.
    When people understand the momentum of economics, that when you take more than half of a person’s next dollar earned it affects their behaviour, we’ll all make better decisions. Taxing the crap out of an economy does not facilitate prosperity at all. Are you kidding me NB at 58% top marginal rate! How do you get economic growth from that? It invites decline and totalitarian behaviour such as the climate change “debate.”
    Too bad for humans we have to be hit hard before we realize the folly of thinking that wastefully spending giant piles of taxpayers’ money could ever contribute to the overall welfare.
    It’s easier to engage in identity and wedge politics, or fantasies about saving the good ship Earth, rather than facing reality. Oh and they get to go to lots of cool seminars and consider what government should actually be, for all our benefit of course.
    That is the reason I like Trump, he cuts through that BS.

  11. “We are diversifying into poverty.” You are. And if you think the NDP is in any way able to change that, you are delusional. They will more likely make things even worse.

  12. “Starting in 2016, estates (other than graduated rate estates) will become subject to the flat top rate of taxation currently applied to inter vivos trusts. Both trusts and estates will be subject to the new 33% top tax rate, up from 29% starting January 1, 2016.”
    Dirty. Rotten. (unprintable string of profanities)
    THAT’S the real reason they created that new bracket. They knew damn well they wouldn’t get the money out of the high-income folks. But they’ll hit every single estate out there, every last parent or grandparent who wants to leave something behind for their heirs after they die. Leftists HATE inherited wealth, HATE the idea that you should be permitted to leave something behind for your children or grandchildren without the state getting their grubby unearned share of it.
    But of course they never said this during the campaign. Of course the Conservatives never pointed out the dire consequences of a new highest tax bracket. Of course the media would never have cared anyway. Of course the Canadian people let themselves be led like lemmings off the cliff, back into Liberal stupor, there to slowly bleed out for the next decade or more.
    Greece, here we come.

  13. Wow – estates set up for the benefit of children are now taxed at the highest tax rate. Only a copassionate Liberal government would attack low income orphans. The high income orphans were already being taxed at high rates.

  14. ‘da gubbamint’ consists of PEOPLE with agendas, failed memories, prejudices, full of unacknowledged contradictions, propensity to lie and steal, etc etc.
    wtf makes leftists think putting it all in the hands of ‘da gubbamint’ leads to sufficient solutions? in-di-vid-u-als monitoring and reacting to events and conditions in their immediate sphere is a far, far superior and still very flawed approach to a livable society with freedoms etc.

  16. Kleptocracy Rules.
    Parasites know no restraint.
    There is no symbiotic relationship possible between progressive thieves and productive people.
    Civil society will collapse under kleptocratic rule.
    Dry goods, metals and medicine.
    Zimbabwe is the goal the government strives for.

  18. There is a further clue (as if there weren’t enough already) that the Liberal Party of Canada is the party of the elite: the Increase to Charitable donations Tax Credit.
    It appears that the only people able to take advantage of this increase (to 33% of the amount of the donations over $200)are people being taxed in the new 33% tax bracket. This should keep the Suzuki Foundation happy.
    If the current CPC leadership had so much as a single clue, they would be demanding that the 33% deduction for charitable contributions over $200 be extended to all taxpayers.

  19. Hey, if you’re “middle class” making $90563/yr your Fed taxes are down a whopping $679.22. Why ya lookin’ that “Real Change” horse in the mouth?
    (Makes that $88 dollar increase in EI + CCP easier to swallow )

  20. “If the current CPC leadership had so much as a single clue, they would be demanding that the 33% deduction for charitable contributions over $200 be extended to all taxpayers.”
    Rona’s dumber than Justin. Apparently we are on pause until the Conservatives elect a real leader.

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