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

Private Equity is a TERRIBLE Investment... Who Keeps Giving Them Money? — How Money Works

Not too much to comment. Business in the USA and by extension Canada is bad right now. Probably for a generation. We really do need a generational plan to get us out of this mess. A ten to twenty year program, unfortunately. Placing pieces onto the board and moving them where they need to be to make things work again. By pieces, I mean people. We need good strong policies to implement as well. There's a lot to think about.

Carney speaks after capitulating to Trump's demands

Dunno how else it can be explained other than capitulation. Carney, you weren't elected to kowtow to Trump. You were elected to stand up to him. Canadians may even start to get buyers remorse for ditching Trudeau for you when he showed far more backbone than this. At least he cared more about Canadian sovereignty than this act. What exactly have you extracted for this? What benefit did this provide for Canadians compared to the billions in revenue Canada stood to gain from the Digital Services Tax as well as protecting Canada's ability to create its own taxes?

The human 'superpredator' is unique -- and unsustainable, study says

Los Angeles Times I can't imagine the world in ten years time. Twenty years. It'll be different. As different as the world was even in my own childhood. As different as the world was from my parents' childhoods. My elders speak of our role on this Earth as caretakers. However, we've abandoned this role in favor of materialistic pursuits. Of finite beliefs that will quickly degrade into ash when stressed, as heated glass touching cold water. All cultures historically warn us away from over-indulgence, and yet our own modern society celebrates this behavior as exemplary. This self-interest is our fatal flaw. We take what we want, and we give nothing. This cannot last. There are limits on this Earth we cannot comprehend in full. It is simply too vast. However, what little we do know should terrify us into acting more responsibly, even if only marginally. However we do not even do that. Our leaders urge us on to continue on as we have done. This cannot last. Eventuall...

Metaneos

Search This Blog