GST/HST Holiday

Some debt is necessary. I’ve read numerous times and I believe it to be true that this current Liberal administration has spent more money and incurred more debt than all other administrations COMBINED. I’ll say it again, the current Liberal administration has spent more money and incurred more debt than all other administrations in the last 157 years COMBINED. Think about that. If that doesn’t scare you I don’t know what will, this budget is not going to “balance itself”.
Have a source for this?
 
Have a source for this?
While mathematically true, the analysis should probably look at at inflation adjusted debt not raw dollars.


"Prime Minister Justin Trudeau has doubled the federal debt. It took nearly two dozen prime ministers and a century and a half for the federal government to rack up $616 billion in debt, which is where the total stood before Trudeau’s first year in office. But less than a decade later, on Aug. 30 of this year, the debt has officially doubled to $1.232 trillion. That’s according to calculations done by the Canadian Taxpayers Federation based on annual debt increases outlined in the government’s latest budget."
 
$1.232 trillion?
That's a lot of money!
Who is this money owed to?
I was thinking they were Canada Savings Bonds but stupid apparently killed them in 2017 as they were too transparent. It's hard to find many recent figures (shining light on anything just exposes incompetence and kickbacks). It looks like most (75%+) of the debt was issued by banks/insurance companies/pension funds, etc. but afaict, they aren't required to hold it. Royal bank could lend Canada 1B with a promise to repay 1.x in 10 years and then sell that to Musk for 1.1 to book a quick 100M profit and get the loan off their books.

As for the math, that's ~$31,000 for every person in Canada and climbing fast. Assuming that half have no ability to pay (young, low income, etc) and that there is debt for every person at other levels of government as well, what's the end game? Is it possible for a government to issue a special assessment like a condo? Here is your $62,000 bill Gary for your part of the debt. You can pay it in full now or you can pay it over time at 10% interest. Like a tax debt, it gets first crack at your estate to settle anything outstanding. I should shut up, I may give stupid ideas and he would have a press conference with his stupid smile and brag about how he managed to save us from debt.
 
I was thinking they were Canada Savings Bonds but stupid apparently killed them in 2017 as they were too transparent. It's hard to find many recent figures (shining light on anything just exposes incompetence and kickbacks). It looks like most (75%+) of the debt was issued by banks/insurance companies/pension funds, etc. but afaict, they aren't required to hold it. Royal bank could lend Canada 1B with a promise to repay 1.x in 10 years and then sell that to Musk for 1.1 to book a quick 100M profit and get the loan off their books.

As for the math, that's ~$31,000 for every person in Canada and climbing fast. Assuming that half have no ability to pay (young, low income, etc) and that there is debt for every person at other levels of government as well, what's the end game? Is it possible for a government to issue a special assessment like a condo? Here is your $62,000 bill Gary for your part of the debt. You can pay it in full now or you can pay it over time at 10% interest. Like a tax debt, it gets first crack at your estate to settle anything outstanding. I should shut up, I may give stupid ideas and he would have a press conference with his stupid smile and brag about how he managed to save us from debt.
I would love this idea I could pay my family share off in Taxes go down. It would need to be accompanied by a law not allowing governments to ever run deficits

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I was thinking they were Canada Savings Bonds but stupid apparently killed them in 2017 as they were too transparent. It's hard to find many recent figures (shining light on anything just exposes incompetence and kickbacks). It looks like most (75%+) of the debt was issued by banks/insurance companies/pension funds, etc. but afaict, they aren't required to hold it. Royal bank could lend Canada 1B with a promise to repay 1.x in 10 years and then sell that to Musk for 1.1 to book a quick 100M profit and get the loan off their books.

As for the math, that's ~$31,000 for every person in Canada and climbing fast. Assuming that half have no ability to pay (young, low income, etc) and that there is debt for every person at other levels of government as well, what's the end game? Is it possible for a government to issue a special assessment like a condo? Here is your $62,000 bill Gary for your part of the debt. You can pay it in full now or you can pay it over time at 10% interest. Like a tax debt, it gets first crack at your estate to settle anything outstanding. I should shut up, I may give stupid ideas and he would have a press conference with his stupid smile and brag about how he managed to save us from debt.
Google shows this as over 50,000 per person now was $31,000 in 2008. I had to pay seven figures in personal income tax last year does that pay off my portion of the debt.

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Google shows this as over 50,000 per person now was $31,000 in 2008. I had to pay seven figures in personal income tax last year does that pay off my portion of the debt.

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50K may be the number if you look at all levels of government. 31K is $1.232T/40M people so ~current federal debt per person. By bringing in so many people, the debt per person was diluted even if the majority of those bodies will never pay significant tax.

As for your personal pain, no. That didn't even cover the amount they wasted last year.
 
Why derail this one there are at least 2 'general canadian politics' threads running...
And a gun thread.

My bad for starting down this road. It was referenced recently here so I quoted it but it probably would have been better to multi-quote and put it in the gun thread.
 
Google shows this as over 50,000 per person now was $31,000 in 2008. I had to pay seven figures in personal income tax last year does that pay off my portion of the debt.

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WOW! I thought my 6 figure year was bad...
 
I was thinking they were Canada Savings Bonds but stupid apparently killed them in 2017 as they were too transparent. It's hard to find many recent figures (shining light on anything just exposes incompetence and kickbacks). It looks like most (75%+) of the debt was issued by banks/insurance companies/pension funds, etc. but afaict, they aren't required to hold it. Royal bank could lend Canada 1B with a promise to repay 1.x in 10 years and then sell that to Musk for 1.1 to book a quick 100M profit and get the loan off their books.

As for the math, that's ~$31,000 for every person in Canada and climbing fast. Assuming that half have no ability to pay (young, low income, etc) and that there is debt for every person at other levels of government as well, what's the end game? Is it possible for a government to issue a special assessment like a condo? Here is your $62,000 bill Gary for your part of the debt. You can pay it in full now or you can pay it over time at 10% interest. Like a tax debt, it gets first crack at your estate to settle anything outstanding. I should shut up, I may give stupid ideas and he would have a press conference with his stupid smile and brag about how he managed to save us from debt.
There is nothing wrong with healthy debt, home mortgage, education, start a business etc. Debt should be for things with the potential of a ROI. Governments are different from businesses in that they have to consider social costs.

Canada has never been debt free. The rate of growth is the problem.

Going 110 KPH shouldn't get you a HTA 172. Getting to that speed in 1 second will.
 
I’ll be putting a decent amount of wine into the basement during the HST break , it won’t spoil and is a hedge against inflation.


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I’ll be putting a decent amount of wine into the basement during the HST break , it won’t spoil and is a hedge against inflation.


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Maybe. Take note of prices now and Sunday. I'm still not convinced that lcbo won't just take this as profit.
 
Wondering if also includes gasoline, cause the cons are saving us at the pumps for the last long while
 
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