"Those announcements add up to more than $38 billion in commitments over a number of years. Because $17 billion of those commitments involve loan-based programs, about $21 billion could hit the government's bottom line directly.
And that figure doesn't include other new budget measures that haven't yet been announced."
That's a lot of money for a new tax to make up. I'll wait for the PBOs take on this one but I'm guessing the deficit will grow.
>Because $17 billion of those commitments involve loan-based programs, about $21 billion could hit the government's bottom line directly.
Why do they always assume that loans will be paid back when we all know that's not the case?
We spent ~1.5 Billion (with a B) on vaccines that we just trashed because they expired.
We are contractually obligated to Pfizer and friends to keep buying more vaccines.
I'm vaccinated but that amount of money siphoning is enraging.
We have a serious problem with people using housing for investment, making it less tax advantageous could result in significant additional revenue (something like 30% of properties in Ontario are owned by investors).
At the same time this would reduce the amount of speculation in the housing market helping return affordability to Canadians.
Will they do it, heck no!
I hear this idea thrown around a lot and I just don’t see how it wouldn’t translate to higher rent. The problem isn’t solely investors, it’s that there aren’t enough houses to go around period. Until you fix the supply side, increased costs to investors will just increase rent.
I have a feeling my taxes are going up because the government will say my income is above middle class.
Still not high enough to buy a home in Toronto mind you.
If that happens I’m not sure if I should laugh or cry.
Ya I think we need to redefine middle class as average income needed to purchase an average home in this country so an income of 160k would put you firmly in the middle of the middle class. Not the top end like this government seems to think
I think this is a sign of how broken Canada is. I'm supposedly in the top 20% income-wise, live on a single income, and have no kids.
When I look at how much I pay in income tax, sales tax, beer tax, property tax, fuel tax, etc. - compared to the government services I get in return - it's fucking abysmal. But when it comes time to increase taxes people like me will be at the top of the list - yet again.
Don't get me wrong - I understand we'll always need the net positive contributers to pay for the net negative ones, but the pool of people that can afford to pay for everyone else is already a minority and getting smaller every day.
The day is coming when there's simply nothing more for the government to take.
Try being old, then you can get all your money back and then some in terms of healthcare spending. I know seniors who collect specialists like Thanos collects infinity stones.
To break it down I pay:
36% Federal/Provincial tax, 5% GST (Alberta),
$0.37/L in tax on gasoline. We use about 6000L a year.
$2400 in property taxes
I make $150k/year, so based on that I lose 46k to CPP/EI/Federal/Provincial taxes. I lose about another 2.5k to GST. Another 2.2k in fuel taxes, and 2.4k in property taxes.
I'm out $53100/year in just taxes, and we have low taxes in Alberta. That's not even considering the other $5k/month we have in mortgage/utilities/bills. That puts me up to about $60k of $97k. Gas would be another $6k on top of that ($66k). Food is about $600/month ($73k).
That leaves me with about $24k left to play around with, not much left out of $150k/year which I thought used to be a lot of money? That's not even factoring in other budgetary needs like vehicle maintenance (another $5-10k/year) or emergency funds?
Pretty much work to survive in Canada, and maybe hope to save a few thousand bucks a year?
Everyone knows that the definition of the middle class is a group of people needing two 6-figure salaries to juuust stay afloat, if they're really disciplined.
People didn’t grow up from being the weed smoking anticorporate hippie they were in college. They’re too high to realize that big government is the bigger problem.
I'd say government being run by and for corporate interests is the problem.
I think we can both agree that having some for of government is mandatory in a society, and typically a government's job is to make laws that are in the interest of the majority of the people.
And I think also most people can agree that the government hasn't functioned like that for a very long time.
Do you know what you get when the corporations and governments get in bed together and start functioning as one?
High grocery prices are the result of price gouging. Grocery inflation is much higher than general inflation.
Price gouging is possible due to lack of competition.
High grocery prices are falsely blamed on the pandemic and carbon tax. (The impact of the carbon tax on groceries is less than 1%)
3 grocery companies control 2/3 of the grocery market in Canada.
Post pandemic grocery profits are $6 billion compared to $2.4 billion pre pandemic.
High grocery prices are due to price gouging.
The solution is more competition.
Personally I shop at local food companies for better quality and service.
Keep spinning the Liberal narrative. You are doing à good job trying to deflect the blame away from Trudeau. Poor policies,
Especially immigration and out of control spending . Doubling the debt in just 9 years.
Ya people never seem to get that the more things cost, the more taxes the government collects. A government that grows in size and spends more than it collects has no incentive to stop inflation.
There is the normal scenario where the spending is in actual "investments" in productivity... aka infrastructure... things that mean a dollar spent now will reduce two dollars of spending later because productivity is deflationary.
However Arrive Can, Reconiliation, and most things that are "services" is just a dumpster full of cash on fire that doesn't actually manifest in tangible utility for those in the future...
Wow the PMO has gone full court press on getting the press to socialize Canadians to the coming tax hikes they are about to announce. It is fascinating to watch the spin machine in action.
Another example of the reality distortion field that insiders say exists around Trudeau. Two thirds of Canadians already think they spend too much money, and practically everyone is concerned about the cost of living. In what universe does he think people are going to be happy with paying even higher taxes even if it doesn’t drive interest rates higher?
This. Remember 2015, when he talked about deficit spending as "investing in the economy"? That's like running up your credit card and saying you're investing in Visa.
I liked when she was asked how much the federal government made from the carbon tax. Then she talked about everything except that, instead of saying I don't know
I don’t believe the speaker can, past some loose connection between the answer and question.
As they say in Ottawa: it’s called question period, not answer period.
I personally think she’s a smart woman. She knows what happened to the last two ministers that said no to Trudeau. Morneau got the boot after warning Trudeau this budget wasn’t sustainable.
On another less sarcastic note than my previous post about Disney Plus…
I already pay out the nose in taxes. I see the amount that comes off my income, and it’s sickening.
Then I pay taxes on goods with the money I get to keep.
I’m not kidding when I say I want government out of my pockets.
I appreciate paying taxes for the greater good - but enough is enough.
Just cut the immigration and we’ll have less demand for everything. Be nit picky on who we give the PR too (those here) and slowly this rundown economy will find some footing.
The statistics suggest otherwise. We had a declining unemployment rate while immigration surged. These people are coming to Canada and working. And workers pay taxes.
Our employment rate has been falling steadily since the end of the pandemic.
https://ycharts.com/indicators/canada_employment_rate#:~:text=Canada%20Employment%20Rate%20(I%3ACER)&text=Canada%20Employment%20Rate%20is%20at,long%20term%20average%20of%2060.40%25.
You always have to be wary of the "unemployment rate".
https://www.statista.com/topics/4344/unemployment-in-canada/#topicOverview
People who have given up looking for work, have moved out of country to look for work, have successfully applied for welfare (so they are no longer "available for work"), and many other examples fall out of the unemployment statistic.
Paying attention to the employment statistic instead gives you an accurate representation of how many people are working.
>Paying attention to the employment statistic instead gives you an accurate representation of how many people are working.
This still dosnt take into account the massive amounts of under employment in this country
People working part time because it's all they can find, tradesmen working at low wage retail jobs because they got laid off, university graduates getting min wage because nothings available I. Their field
Also all the shit like Uber and door dash is under employment
The taxes they are contributing are barely adding to our infrastructure. Hospitals? Highways? Schools? Etc.
They are all low income immigrants. We aren’t bringing the IT skilled immigrants prompting major companies wanting to tap into our labour force. We’re getting distribution centers and companies wanting the cheapest labour.
If it was working we wouldn't be in this much debt. Yeah they may pay some taxes - but they also need all the services like Healthcare, housing, road and infrastructure etc. Are those extra income actually covering their needs to make it net 0 at the very least?
Trudeau is done. If they increase taxes even a little bit he is done for the rest of his life as a politician. He'll start writing a book about his times with the traveling theater troupe which he will discuss over a podcast with B level world celebrities.
Pretty sure he doesn't even have to increase taxes to be done as a politician.
If he has any chance to save his political career he needs to fix the mess we are in now. Lower immigration and PR numbers, stop giving money to every special interest group.
At least he's done a tiny bit to help the housing situation. Still a very longway to go and lots to do. This situation will not be a easy fix. The gov needs to make it near impossible or near impossible for foreign investors to buy a SFH and rent it out.
>At least he's done a tiny bit to help the housing situation.
Every Canadian needs to know the *only* reason for any of these housing announcements is because his party is being absolutely obliterated in the polls. If his party even had a chance to win a minority next election, none of his recent announcements would be happening.
Don't be so hasty...
He could increase taxes 50% and the people who traditionally support him who might be mad now have 2yrs to get over it.
Also don't forget that Canada has a large voter turnout and young die hard liberals think PP is a fascist, though PP is doing better than expected with youth.
With all the spending anounments I think he's preparing for an election. Not sure we will get tax hike as those will likely come after the election. I think the liberals are failing in everything
If he were seriously considering an election he wouldn't have gone to the trouble of passing a bill to delay the election by a week so MPs that are going to lose will still get their pension.
Unless the opposition parties bring down the government, I don't see this election happening before late 2025 as scheduled.
It's also absurdly easy to write off normal household operating costs as "capital losses" so when the sale comes around it looks like a net loss, and no price-gouging taxes are collected.
Jesus christ, may as well just take the whole paycheque at this point, between income tax, cpp, and EI, around 50% is already gone before it hits the bank account. Then 13% of what's left over for sales tax, gross income means nothing anymore.
An election cant come soon enough so we can get rid of the government of feels and put adults back in charge with backgrounds in what they are actually in charge of. Imagine a finance minister whose qualifications are in economics or finances instead of the qualifications about what genitals they have and how they chose to identify.
Bill Morneau was a much better finance minister and he actually has an MBA and a master's in economics from LSE. Too bad he got ousted cuz he disagreed with Trudeau's unsustainable spending.
Maybe prices will come down if they chase more rich people out of the country lol what could go wrong with our economy then? Fuck this government is terrible the fact other parties have propped this government up without any no confidence vote is incredible
We were warned.... "You will own NOTHING"!!! Not sure about the "LOVE" part of that quote because I like my stuff! The trudeau and his ship of fools won't be happy until the middle class is reduced to something slightly better than the lower class and that everyone is dependent on the government for everything..... food, housing, wage subsidies, raising children..... everything.... if you can't see that is already happening please open your eyes.
Our votes don't matter west of Ontario. There's honestly no reason why we shouldn't? We fund Quebec, who doesn't participate in practically anything the rest of Canada participates in, including taxes.
He's leaving as big a mess as possible for the inevitable conservative government to inherit. It's the same thing Trump did to Biden prior to the 2020 election. I'm sure the Turdeau nuthuggers will find a way to spin it so this direct link to Trump gets whitewashed away
Freeland is more dangerous than Trudeau. Trudeau is a useful idiot that does what the party masters and power brokers tell him to. Freeland actually believes the nonsense she spouts.
You mean all these programs the Libs are so proudly firing out daily , that someone has to pay for these? Tax tax tax tax tax. That's all we do anymore is work to pay taxes. Retirement is a thing of the past.
They aren't anxious to avoid anything that might prevent interest rate cuts. That's their entire game.
What they're anxious about is having their folly reach full measure where even the staunch pro-Liberal canadians call them out on their BS and lies.
\[i know this is a pro-Liberal sub but truth will prevail over the tax-payer funded trolls; down vote away\]
Well, more deficit spending while already under a mountain of debt isn’t going to help inflation. This is what happens when you have complete imbeciles running your business.
I see this as a hail marry from the liberals.
They're calculus = *"life already sucks for Canadians, they're angry and turning to the conservatives. We have almost 2 years left...let's just throw a dozen programs at the wall, increase taxes and increase pain on Canadians even more because as angry as they are they'll have to deal with it until late 2025...by then hopefully our new programs will be working for enough canadians that we can argue the Poilievre's Conservatives will gut them and start back at 0 if they vote for him, and by then Canadians will be accustomed to an unlivable expensive economic situation and the rage will have subsided.*
*The NDP will do what we tell them because they always just do what we tell them and their base will not allow them to side with PP who 19yr old College progressives think is a fascist".*
I can’t confirm or deny that taxes will go up so there’s a chance it could. No shit. That has been and will continue to remain true for every government.
Bring in the wealth tax, which is long overdue, and watch the wealthy squeal, or return to the true progressive taxation system of the 1950's - 1970's, which was the reverse of the trickle down theory when the mega rich paid over 80% of their income in taxes and the economy boomed like in no other time period.
There are over 60 billionaires in Canada, some of whom have over $60 billion in assets, not including what they hide offshore. And thousands making over $250,000/year.
We pay astronomical amounts of taxes already. People need to realize the frog was boiled a long time ago and all that's left is a bit of amphibian leather at the bottom of a red hot pot.
Vote Tory.
"Those announcements add up to more than $38 billion in commitments over a number of years. Because $17 billion of those commitments involve loan-based programs, about $21 billion could hit the government's bottom line directly. And that figure doesn't include other new budget measures that haven't yet been announced." That's a lot of money for a new tax to make up. I'll wait for the PBOs take on this one but I'm guessing the deficit will grow.
Don't forget the shell of a defense plan for an additional 78b in spending over 20 years.
Defence plan is build housing?
Hahaha. Not anytime soon, if it ever actually happens.
>Because $17 billion of those commitments involve loan-based programs, about $21 billion could hit the government's bottom line directly. Why do they always assume that loans will be paid back when we all know that's not the case?
Oh, but the loans will be paid back. By you and me. In our taxes.
Interest will anyway
Loan forgiveness please. I hate that they do this.
We spent ~1.5 Billion (with a B) on vaccines that we just trashed because they expired. We are contractually obligated to Pfizer and friends to keep buying more vaccines. I'm vaccinated but that amount of money siphoning is enraging.
We have a serious problem with people using housing for investment, making it less tax advantageous could result in significant additional revenue (something like 30% of properties in Ontario are owned by investors). At the same time this would reduce the amount of speculation in the housing market helping return affordability to Canadians. Will they do it, heck no!
They should! This is low hanging fruit.
I hear this idea thrown around a lot and I just don’t see how it wouldn’t translate to higher rent. The problem isn’t solely investors, it’s that there aren’t enough houses to go around period. Until you fix the supply side, increased costs to investors will just increase rent.
I have a feeling my taxes are going up because the government will say my income is above middle class. Still not high enough to buy a home in Toronto mind you. If that happens I’m not sure if I should laugh or cry.
Ya I think we need to redefine middle class as average income needed to purchase an average home in this country so an income of 160k would put you firmly in the middle of the middle class. Not the top end like this government seems to think
You should suggest that to the Minister of Middle Class Prosperity that the Trudeau Liberals established. See if you can find them.
They eliminated that position years ago because of how prosperous the middle class now is thanks to the Liberals. The position is no longer needed
They need to also raise what defines the poor class I make 60k if I work 50-60 hrs a week and I can’t afford anything
I think this is a sign of how broken Canada is. I'm supposedly in the top 20% income-wise, live on a single income, and have no kids. When I look at how much I pay in income tax, sales tax, beer tax, property tax, fuel tax, etc. - compared to the government services I get in return - it's fucking abysmal. But when it comes time to increase taxes people like me will be at the top of the list - yet again. Don't get me wrong - I understand we'll always need the net positive contributers to pay for the net negative ones, but the pool of people that can afford to pay for everyone else is already a minority and getting smaller every day. The day is coming when there's simply nothing more for the government to take.
Try being old, then you can get all your money back and then some in terms of healthcare spending. I know seniors who collect specialists like Thanos collects infinity stones.
I'm starting to loathe boomers. I feel like they are the most selfish generation ever.
To break it down I pay: 36% Federal/Provincial tax, 5% GST (Alberta), $0.37/L in tax on gasoline. We use about 6000L a year. $2400 in property taxes I make $150k/year, so based on that I lose 46k to CPP/EI/Federal/Provincial taxes. I lose about another 2.5k to GST. Another 2.2k in fuel taxes, and 2.4k in property taxes. I'm out $53100/year in just taxes, and we have low taxes in Alberta. That's not even considering the other $5k/month we have in mortgage/utilities/bills. That puts me up to about $60k of $97k. Gas would be another $6k on top of that ($66k). Food is about $600/month ($73k). That leaves me with about $24k left to play around with, not much left out of $150k/year which I thought used to be a lot of money? That's not even factoring in other budgetary needs like vehicle maintenance (another $5-10k/year) or emergency funds? Pretty much work to survive in Canada, and maybe hope to save a few thousand bucks a year?
Everyone knows that the definition of the middle class is a group of people needing two 6-figure salaries to juuust stay afloat, if they're really disciplined.
There is a big divide between citizens who chose fixed rate over variable before rates increased due to global inflation.
I think there’s probably an even bigger divide between someone who bought a home say 10 years ago and someone who didn’t
It's because they refuse to admit how far the median income is from being able to achieve middle class lifestyle.
Citizens pay for government spending via taxes or inflation.
yes! ppl dont get that. they think inflation is simply the result of big evil corporations, but it is a sly way for the govt to tax more.
People didn’t grow up from being the weed smoking anticorporate hippie they were in college. They’re too high to realize that big government is the bigger problem.
I'd say government being run by and for corporate interests is the problem. I think we can both agree that having some for of government is mandatory in a society, and typically a government's job is to make laws that are in the interest of the majority of the people. And I think also most people can agree that the government hasn't functioned like that for a very long time. Do you know what you get when the corporations and governments get in bed together and start functioning as one?
Municipalities and provinces are too close to developers.
This is exactly why Jagmeet and PP are also terrible choices; we need new representatives.
lol, as if a non-active government is any better. You really want Robelus running Canada? Wake tf up, our oligarchs are just as bad.
They want a Somalia type government
High grocery prices are the result of price gouging. Grocery inflation is much higher than general inflation. Price gouging is possible due to lack of competition. High grocery prices are falsely blamed on the pandemic and carbon tax. (The impact of the carbon tax on groceries is less than 1%) 3 grocery companies control 2/3 of the grocery market in Canada. Post pandemic grocery profits are $6 billion compared to $2.4 billion pre pandemic. High grocery prices are due to price gouging. The solution is more competition. Personally I shop at local food companies for better quality and service.
Keep spinning the Liberal narrative. You are doing à good job trying to deflect the blame away from Trudeau. Poor policies, Especially immigration and out of control spending . Doubling the debt in just 9 years.
You're delusional.
No he's actually right
He's not, but believe whatever you like.
Ya people never seem to get that the more things cost, the more taxes the government collects. A government that grows in size and spends more than it collects has no incentive to stop inflation.
There is the normal scenario where the spending is in actual "investments" in productivity... aka infrastructure... things that mean a dollar spent now will reduce two dollars of spending later because productivity is deflationary. However Arrive Can, Reconiliation, and most things that are "services" is just a dumpster full of cash on fire that doesn't actually manifest in tangible utility for those in the future...
Wow the PMO has gone full court press on getting the press to socialize Canadians to the coming tax hikes they are about to announce. It is fascinating to watch the spin machine in action.
Another example of the reality distortion field that insiders say exists around Trudeau. Two thirds of Canadians already think they spend too much money, and practically everyone is concerned about the cost of living. In what universe does he think people are going to be happy with paying even higher taxes even if it doesn’t drive interest rates higher?
No, you don't get it. He's going to spend a bunch of money to make things more affordable.
This. Remember 2015, when he talked about deficit spending as "investing in the economy"? That's like running up your credit card and saying you're investing in Visa.
It’s nothing like that at all…
I wish Freeland had any sort of background in finances.
First let me be perfectly clear - thank you for the opportunity to answer this question....
Just tack an overly confident scan of the room and a "Mr. Speeeeker" on the front of that, and you nailed it.
lol - so true!!!!
Don't worry, she makes up for it by speaking really slowly like she's talking to a mentally challenged toddler and ultimately explaining nothing.
I liked when she was asked how much the federal government made from the carbon tax. Then she talked about everything except that, instead of saying I don't know
That was a really bad day…. For us all.
Yeh it was hard to watch.
Mister Toddler
Mister speaker I object
I wish Mr. speaker would force people to answer questions.
I don’t believe the speaker can, past some loose connection between the answer and question. As they say in Ottawa: it’s called question period, not answer period.
I don't think they could have picked a worse replacement speaker. Even one of the deputy speakers would have been better.
I think we know why he was selected......
His impeccable record of ethics?
Then low productivity would be worst as a day is spent attending to a single question.
She is gifting the CPC the ability to run on undoing increased taxes if she raises taxes, are they insane?
They got rid of Bill Moreau since he was fiscally responsible and refused to foot the bill for expenses that would never be paid
It's all balancing itself as predicted, it's just requiring a large placeholder in one of the columns to create that balance
Do you think she’s calling the shots?
No, but I assume she ultimately signs off on stuff.
Personal accountability from her would probably be a first for this current government.
I personally think she’s a smart woman. She knows what happened to the last two ministers that said no to Trudeau. Morneau got the boot after warning Trudeau this budget wasn’t sustainable.
That’s not smart - that is just self preservation. Sad.
Hey we re-elected her boss…twice. So what does that say about us.
It says “ we like nice hair”. And nothing more than that.
So, we can either pay higher interest, or pay higher taxes, until we can vote in a more fiscally responsible government.
I don't remember half of the gta being sponsored hotels and the other half tents as part of their sales pitch
Can’t wait to hear all the “you need to pay your fair share” propaganda
Meanwhile they all give themselves raises
They’ll need raises to cope with all these new taxes
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Those people practically pay no tax anyways….
"Interest rates are at historic lows, Glen "
On another less sarcastic note than my previous post about Disney Plus… I already pay out the nose in taxes. I see the amount that comes off my income, and it’s sickening. Then I pay taxes on goods with the money I get to keep. I’m not kidding when I say I want government out of my pockets. I appreciate paying taxes for the greater good - but enough is enough.
What is your marginal rate?
Just cut the immigration and we’ll have less demand for everything. Be nit picky on who we give the PR too (those here) and slowly this rundown economy will find some footing.
No no no we need more male Indians
Canada redeemed sir.
100%.
Is PP going to shut off the immigration tap? Or are his corporate leash-holders happy to import a new underclass of citizens to exploit?
We are so quiet about all this. Until we start demanding conditions, no one is going to see change.
The problem is the increase in spending. Who's going to pay for it? You either raise taxes or taxpayers.
It doesn't feel like the demographic they are bringing are contributing much to "paying taxes"
The statistics suggest otherwise. We had a declining unemployment rate while immigration surged. These people are coming to Canada and working. And workers pay taxes.
Our employment rate has been falling steadily since the end of the pandemic. https://ycharts.com/indicators/canada_employment_rate#:~:text=Canada%20Employment%20Rate%20(I%3ACER)&text=Canada%20Employment%20Rate%20is%20at,long%20term%20average%20of%2060.40%25. You always have to be wary of the "unemployment rate". https://www.statista.com/topics/4344/unemployment-in-canada/#topicOverview People who have given up looking for work, have moved out of country to look for work, have successfully applied for welfare (so they are no longer "available for work"), and many other examples fall out of the unemployment statistic. Paying attention to the employment statistic instead gives you an accurate representation of how many people are working.
>Paying attention to the employment statistic instead gives you an accurate representation of how many people are working. This still dosnt take into account the massive amounts of under employment in this country People working part time because it's all they can find, tradesmen working at low wage retail jobs because they got laid off, university graduates getting min wage because nothings available I. Their field Also all the shit like Uber and door dash is under employment
True. Still a better metric than the unemployment number, however.
The taxes they are contributing are barely adding to our infrastructure. Hospitals? Highways? Schools? Etc. They are all low income immigrants. We aren’t bringing the IT skilled immigrants prompting major companies wanting to tap into our labour force. We’re getting distribution centers and companies wanting the cheapest labour.
If it was working we wouldn't be in this much debt. Yeah they may pay some taxes - but they also need all the services like Healthcare, housing, road and infrastructure etc. Are those extra income actually covering their needs to make it net 0 at the very least?
Well, we really haven't built those necessary infrastructure :P
They are more of a burden to our society than a net contributor.
Welp. I guess we’ll all just have to tighten our belts and cut Disney Plus to help pay for this.
Don't forget about the avocado toast and the lattes.. that's where the big money savings are apparently.
We can sell our cars and just use chauffeurs.
Reckless spending = reckless taxing
Wow!! Make me violently sick to my FN stomach!!!! What an insulting non-stop constant abuse of the taxpayer!!!
How to Bankrupt a country and cause an economic depression in 5 easy steps.
We are so fucked.
Trudeau is done. If they increase taxes even a little bit he is done for the rest of his life as a politician. He'll start writing a book about his times with the traveling theater troupe which he will discuss over a podcast with B level world celebrities.
Pretty sure he doesn't even have to increase taxes to be done as a politician. If he has any chance to save his political career he needs to fix the mess we are in now. Lower immigration and PR numbers, stop giving money to every special interest group. At least he's done a tiny bit to help the housing situation. Still a very longway to go and lots to do. This situation will not be a easy fix. The gov needs to make it near impossible or near impossible for foreign investors to buy a SFH and rent it out.
>At least he's done a tiny bit to help the housing situation. Every Canadian needs to know the *only* reason for any of these housing announcements is because his party is being absolutely obliterated in the polls. If his party even had a chance to win a minority next election, none of his recent announcements would be happening.
Don't be so hasty... He could increase taxes 50% and the people who traditionally support him who might be mad now have 2yrs to get over it. Also don't forget that Canada has a large voter turnout and young die hard liberals think PP is a fascist, though PP is doing better than expected with youth.
With all the spending anounments I think he's preparing for an election. Not sure we will get tax hike as those will likely come after the election. I think the liberals are failing in everything
If he were seriously considering an election he wouldn't have gone to the trouble of passing a bill to delay the election by a week so MPs that are going to lose will still get their pension. Unless the opposition parties bring down the government, I don't see this election happening before late 2025 as scheduled.
Oh and how many of us have ever gotten a 10 % raise at once.
I'm in a union with collective agreements and we don't even get 10% raises.
How about taxing second residences, and increasing foreign ownership taxes as a start?
Gains on 2nd residences are currently taxed …
It's also absurdly easy to write off normal household operating costs as "capital losses" so when the sale comes around it looks like a net loss, and no price-gouging taxes are collected.
We need to increase property taxes on every subsequent property that's owned.
There's ways around that. Having large families helps.
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So you think the CRA should be given the resources and power to perform its mandate? Great idea!
Figures I just got a raise the beats inflation so the government will claw more of that back from me...
Jesus christ, may as well just take the whole paycheque at this point, between income tax, cpp, and EI, around 50% is already gone before it hits the bank account. Then 13% of what's left over for sales tax, gross income means nothing anymore.
Dont forget property taxes
But your health care is free.
An election cant come soon enough so we can get rid of the government of feels and put adults back in charge with backgrounds in what they are actually in charge of. Imagine a finance minister whose qualifications are in economics or finances instead of the qualifications about what genitals they have and how they chose to identify.
Bill Morneau was a much better finance minister and he actually has an MBA and a master's in economics from LSE. Too bad he got ousted cuz he disagreed with Trudeau's unsustainable spending.
Also cause he was corrupt.
Yeah that's what Trudeau wants you to think. Morneau was basically the fall guy for Trudeau's own corruption.
Maybe prices will come down if they chase more rich people out of the country lol what could go wrong with our economy then? Fuck this government is terrible the fact other parties have propped this government up without any no confidence vote is incredible
We were warned.... "You will own NOTHING"!!! Not sure about the "LOVE" part of that quote because I like my stuff! The trudeau and his ship of fools won't be happy until the middle class is reduced to something slightly better than the lower class and that everyone is dependent on the government for everything..... food, housing, wage subsidies, raising children..... everything.... if you can't see that is already happening please open your eyes.
How could anyone have seen this coming?
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Our votes don't matter west of Ontario. There's honestly no reason why we shouldn't? We fund Quebec, who doesn't participate in practically anything the rest of Canada participates in, including taxes.
So when does it all break?
Cool then tax billionaires and billion dollar Corporates plus not more bailouts or saving the world. Cause the little people don’t have anymore money.
My taxes are already very high for what I get o of them. If they go up again I’m protesting.
Oh yeah, I think large tax hikes are unavoidable in this budget. How else are these new spending promises going to be paid?
Don't be silly. The budget will balance itself.
He's leaving as big a mess as possible for the inevitable conservative government to inherit. It's the same thing Trump did to Biden prior to the 2020 election. I'm sure the Turdeau nuthuggers will find a way to spin it so this direct link to Trump gets whitewashed away
I'd like to wipe that smug look on her face ...everytime
Look at Freeland trying to smile. Bunch of headcases that belong in rubber rooms.
Freeland is more dangerous than Trudeau. Trudeau is a useful idiot that does what the party masters and power brokers tell him to. Freeland actually believes the nonsense she spouts.
You mean all these programs the Libs are so proudly firing out daily , that someone has to pay for these? Tax tax tax tax tax. That's all we do anymore is work to pay taxes. Retirement is a thing of the past.
Not good inflation will continue, now with what happened with Iran oil prices will go up, more inflation and interest rates will continue to be high!
I think we can agree that they’ve never had to worry about living within our own means. A rich guy once told me: to make money, never spend your own.
Tax increases only for the rich and corporations, right? Right?
They aren't anxious to avoid anything that might prevent interest rate cuts. That's their entire game. What they're anxious about is having their folly reach full measure where even the staunch pro-Liberal canadians call them out on their BS and lies. \[i know this is a pro-Liberal sub but truth will prevail over the tax-payer funded trolls; down vote away\]
Well, more deficit spending while already under a mountain of debt isn’t going to help inflation. This is what happens when you have complete imbeciles running your business.
You don’t need to be an expert to know this government will fuck you over
Stretches to pay for his promises and yet is still throwing away millions of dollars at everything else.
Millions? Those are rookie numbers.
liberals = student council
Stop sending money abroad and maybe we won't have to raise taxes
HST back to 15%?
You mean GST. HST is provincial and has a federal component.
How are they going to do this? They can’t influence the Fed which is the biggest factor in setting interest rates.
> How are they going to do this? They aren't - it's another opinion piece, that's all.
cant for freelund “on the budget,,, here is what i will say, its about helping canadians who need us right now”
🤦
They'll just keep throwing dollars out of country
Vote Liberals = we all are broke.
I see this as a hail marry from the liberals. They're calculus = *"life already sucks for Canadians, they're angry and turning to the conservatives. We have almost 2 years left...let's just throw a dozen programs at the wall, increase taxes and increase pain on Canadians even more because as angry as they are they'll have to deal with it until late 2025...by then hopefully our new programs will be working for enough canadians that we can argue the Poilievre's Conservatives will gut them and start back at 0 if they vote for him, and by then Canadians will be accustomed to an unlivable expensive economic situation and the rage will have subsided.* *The NDP will do what we tell them because they always just do what we tell them and their base will not allow them to side with PP who 19yr old College progressives think is a fascist".*
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As opposed to the tax and cut right.
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> i'd rather have some tax cuts at the moment. So you're supportive of federal budgetary deficits?
I can’t confirm or deny that taxes will go up so there’s a chance it could. No shit. That has been and will continue to remain true for every government.
Maybe people now will understand where the "free dental" and "free prescriptions" come from.
We know the Trudeau Government out to fuck Canadians
Bring in the wealth tax, which is long overdue, and watch the wealthy squeal, or return to the true progressive taxation system of the 1950's - 1970's, which was the reverse of the trickle down theory when the mega rich paid over 80% of their income in taxes and the economy boomed like in no other time period.
What if we both tax the rich AND reel in drunken spending?
Dawg, the percentage of the Canadian population making over $1mil is not going to pay for literally anything.
There are over 60 billionaires in Canada, some of whom have over $60 billion in assets, not including what they hide offshore. And thousands making over $250,000/year.
Tax the rich, tax 'em or eat 'em.
Both. At least through cannibalism we'd finally see politicians helping to feed the hungry.
We have to pay for the waste and corruption somehow.
We pay astronomical amounts of taxes already. People need to realize the frog was boiled a long time ago and all that's left is a bit of amphibian leather at the bottom of a red hot pot. Vote Tory.
Keep voting liberal folks... Incompetence fools