I believe that many politicians start out with an altruistic motive. I think deep cynicism, the lust for power and a desire to stay in the job no matter what corrupts all of them at some point.
Wynne is still punishing us...
- Thread starter Mad Mike
- Start date
I believe that many politicians start out with an altruistic motive. I think deep cynicism, the lust for power and a desire to stay in the job no matter what corrupts all of them at some point.
I would argue that the altruistic ones are weeded out during their first election. Saying you are going to raise taxes and cut services (the actual path that should be taken to right the ship) means they never get elected. The majority votes for the incompetent or corrupt who say they will cut taxes and increase services. Sadly governance chosen by the majority is a quick path to mediocrity at best. You may as well have less elected officials as more just adds more noise while adding nothing to obtaining a consensus.
Mad Mike
Well-known member
Un, yeah. The promises were partially predicated on the fiscal reality presented in the last Wynne budget. If Wynne cooked the books by $15 billion then left the building, she left the door open. $15b is a big number, what options do you think he has?
As for forensic audits, our current system includes an Auditor General review which did pick up the stink of Liberal financial irregularities. Only when this happens are forensic audits called for.
Somewhere around 60% can't pay off their credit cards so don't see why government debt is an issue. The "Common sense revolution" didn't work out because the first step was missed. First you have to educate the public about the realities of life. There is no free lunch.
Somewhere around 60% can't pay off their credit cards so don't see why government debt is an issue. The "Common sense revolution" didn't work out because the first step was missed. First you have to educate the public about the realities of life. There is no free lunch.
It may be a bit over simpified but @nobbie , you've touched on an important point. If a large part of the public cant understand thier own finances, how are they going to understand the implications of a billion dollar provincial debt?
ie; pay day loans, and now the 10K line of credit from pay day loans, at 21%, and that business grows 10-12% per yr.
The forensic audit Ford wants will cost us hundreds of thousands, and for what? so he can say I told you so? Thats an expensive "Gee I'm right" . Either the money is there or its gone, and if its gone lets deal with it. Nobody will go to jail, its Canada.
ie; pay day loans, and now the 10K line of credit from pay day loans, at 21%, and that business grows 10-12% per yr.
The forensic audit Ford wants will cost us hundreds of thousands, and for what? so he can say I told you so? Thats an expensive "Gee I'm right" . Either the money is there or its gone, and if its gone lets deal with it. Nobody will go to jail, its Canada.
wonderings
Well-known member
We cannot keep spending like the money is endless. Not sure why people cannot understand this. YES we will have to cut services unless we are willing to pay more taxes so we can actually afford what we have already. Do you want another increase in taxes?
It can become much much worse if we continue on spending and wasting as we do, then people will really be complaining when we cannot afford teachers, doctors, nurses, firemen, any of it at all. This can be a reality with the way we are throwing money away. All these services cost money and we have tossed so much away it should be a crime.
Here's the problem: Publicly traded corporation share values depend on growth. If we overdo austerity people start cutting back on frills and the stock market tanks.
Entertainment becomes TV and popcorn at home. No $100.00 plus tickets to games or $20 movies.
Eat in, save $$$ and McDonald shares crash. Where's junior going to get spending money or pay student expenses?
Fewer bridges to nowhere and there will be fewer construction jobs.
BTW your CPP money and other pensions are invested in stocks and bonds so when the market crashes make sure you've got some cans of beans stashed away.
If everyone pays off their credit cards the banks get crushed. Why do they give you money back for putting stuff on credit cards?
Because 60% will pay huge interest amounts on those purchases. The banks give you a 1% rebate on a purchase that you finance at 7 to 29 percent. Duh?
To legally run a motorcycle requires several tests and months of training. To become a prime minster and run a country you have to look cool and say "I'm going to give you stuff." The 60 percenters are OK with it, especially if they can get dollar beer.
There's no easy fix.
As far as people understanding, it will likely never happen. If a person is brain washed into thinking they're a prince or princess they will die screaming "It isn't fair. I deserve more." Will they rob, cheat and even kill for stuff? I wouldn't be surprised.
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I really don't believe people will go to jail. All will be forgiven and in fact most of the liberal cabinet probably already are back sucking at the public teat.
As an example Eric Hoskins is now chairing a newly created Federal Pharmacare Committee. Doesn't matter that when my mother broke her hip she lay in a hospital corridor for 8 days waiting on surgery and a bed, then spent 107 days in hospital as they couldn't organise home care with a private company that the Liberals put in place. Based on her home location they didn't want the job as there was not enough profit.
And its not only my mother. Her Nurses (who were amazing BTW and don't get the credit they deserve) said that basically everyone is in the same boat.
I like the idea of this audit, but only if the results are used to block the holes and restore services. The Liberals effectively castrated the AG. I want to see him/her empowered again.
So the game is rigged because each government can use their own accounting scheme? It’s just how they apply the rule or principles to fudge the numbers?
I thought there would be standard? Businesses, private and public have regulations as to how they report revenues, income, losses etc.
Why is the government any different?
I think is was smart for Ford not to table a platform during his campaign now. How can you when you don’t even have the correct information?
However, I’m concern any government can just cook the books any old way they want and for as long as they keep getting elected.
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I thought there would be standard? Businesses, private and public have regulations as to how they report revenues, income, losses etc.
Why is the government any different?
I think is was smart for Ford not to table a platform during his campaign now. How can you when you don’t even have the correct information?
However, I’m concern any government can just cook the books any old way they want and for as long as they keep getting elected.
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I see Tfsa as the governments savings account. At some point in the future, I would be amazed if the government didn't tax the crap out of them. There is a giant pool of money there that the government doesn't get a piece of. I'm not saying this is a good approach, but cant see them letting this much money escape their grasp.
TFSA was created by Harper to give a bigger tax break to rich people. Maxed out your RRSP's? Now you can have another revenue stream with no tax at the end!
Exactly! Money that you have saved through intelligent decisions (Education, hard work, frugal living) being used in later years. Fight TFSA by spending everything on hookers and blow.
I'm certainly not a rich person but have been able to take advantage of the TFSA. I've had to make sacrifices to do that but it will go to my kids education and their future. As the old saying goes I could easily have spent that money on "gambling, alcohol and wild women, and just squandered the rest".
The limit is just over $5k year. Assuming interest rates in that savings account are ~2%. It means I would make about $70 in additional interest on that $5k in one year, as compared with a taxable account. Galen Weston or Jim Pattison probably light their cigars with $100 bills so I can't "The Rich" queuing up take advantage of it for another $70 a year.
Kudos to Harper though for introducing it, and to Trudeau for not cancelling it.
Edit: The other point I would make is, assuming you retire at 65 and live for another 20 years. If you are not maxing out your RRSP or you don't have a really good company pension plan its going to be difficult.
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Like I said, I suspect they are waiting until the value in TFSA is huge and then they will hit it with capital gains tax. The "rich friends" will likely get advance notice so they drain their accounts prior to the reckoning.
Some people years ago had hundreds of thousands in their TFSA by making risky stock bets. I don't know if anyone has gotten to a million yet.
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Its still a great perk. The cynical side of me says that if you have RRSP's of TFSA's you will be excluded from CPP in the future.
A couple of decades ago I was having a discussion with a well connected civil servant. She made the comment that major changes in things like CPP had to have decades of warnings to allow people to adjust.
Then in 2012:
"OTTAWA — Canadians under the age of 54 will be forced to wait longer to qualify for their Old Age Security pensions, Finance Minister Jim Flaherty announced Thursday.
The controversial shift means that starting in 2023, the age of eligibility for OAS benefits will gradually increase to 67 from 65.
With an 11-year “notification” of that change and a six-year phase-in that concludes in 2029, Flaherty said he has given Canadians “ample time to make adjustments to their retirement plans.”
So much for decades of warnings.
Cynicism is justified. Tax free means tax free for now.
If you think that the average Canadian has enough income to max out RRSP's and TFSA's ....good luck. You saying that someone who lives on 40k a year doesn't work hard and doesn't live a frugal lifestyle? It is a vehicle for the rich.
