Skip to main content

When all you have is a hammer...

Canada’s government spending is now on unsustainable path, warns PBO
Financial Post's reporting is a bit, what's the word? alarmist?
Things really aren't so dire.
Canada’s sub-national governments need a combination of new revenue or spending cuts totalling 1.5 per cent of GDP to put themselves on a sustainable path, up from 1.4 per cent last year — what the PBO called a “modest deterioration.” That would require a combined $30.2 billion in spending cuts or tax increases from provinces, territories, local and indigenous governments.
You know, the major, important thing is, that no one ever really mentions, is Canada will always have a modest to wealthy tax base. And also, Canada prints its own money. That's a major strength. It means Canada can always repay its dept, even if the value of its currency falls.
$30 billion? It shouldn't be an impossible amount for the government to raise.
It should be a multi-pronged approached. Modestly raise taxes, starting from the top earners, and work downward. Borrow, too: with the currency weak as it is, now's as good as any time for the government to borrow. Close tax loopholes: there's money going to waste, hidden away in off-short bank accounts.
Most importantly, get money into the hands of people who'll spend it. The gears of the economy are screaming for lubricant. And that's what money's for. To keep the economy healthy.

Comments

Popular posts from this blog

Most CRA auditors polled say Canada's tax system is skewed to protect the wealthy

CBC News
This is hardly surprising. This should have been a top priority during the new government's installment over these past few years, but it hasn't. Things should be far better, but they're more or less the same as the previous government. Being slightly better than the Cons on taxes on the well-off isn't an inspiring reason to re-elect these chumps, and they're well within the danger zone of losing the next election over reasons such as this. Why bother voting Liberal if all Canada's getting is less-mean Conservatives. Canadians wanted change, not this tepid nonsense.
Worse off, the optics are awful. Canada needs that tax revenue, now more than ever, what with the government fumbling around in regards to that US President who's intent on tanking economies world-wide.

The New Blacklist

Matt Tabbi, Rolling Stone
I share the concerns voiced in this article.
Honestly, the Russians had nothing to do with the 2016 election. The claims being made are now becoming toxic and insensible. It's difficult to bare with progressives and liberals carrying water for neo-liberals and neo-conservatives. People are being fed yellow cake, and are eating it all up, crumbs and all.
There's no good to be had, attacking Trump from this angle. It's absolutely shameful.

Why Did Two-Thirds of These Weird Antelope Suddenly Drop Dead?

The Atlantic
My goodness. What is suggested in this report is how a changing climate can negatively effect our physiology, which could turn our own bodily systems against itself.
Only one factor fit the bill: climate. The places where the saigas died in May 2015 were extremely warm and humid. In fact, humidity levels were the highest ever seen the region since records began in 1948. The same pattern held for two earlier, and much smaller, die-offs from 1981 and 1988. When the temperature gets really hot, and the air gets really wet, saiga die. Climate is the trigger, Pasteurella is the bullet.