Economy
The opening lines of the Liberal government’s new budget accurately sum up the situation Canadians are facing:
“A fair chance to build a good middle class life–to do as well as your parents, or better–that’s the promise of Canada. For too many, especially for young Canadians, that promise is at risk.”
A lot of Canadians reading that line, particularly younger ones, would nod in agreement. It’s the line that follows, though, that will have them do a double take.
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Read MoreHealth-care advocates say patients are unnecessarily paying thousands to private medical clinics for procedures covered by provincial insurance plans. They say many patients are falling for doctors engaging in ‘predatory upselling’ of services.
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Read MoreConservative Leader Pierre Poilievre responded to the Liberal government’s 2024 budget after it was tabled in the House of Commons on April 16.
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Read MoreNDP Leader Jagmeet Singh expressed disappointment in the Canadian government’s 2024 budget on Tuesday, saying the Liberals “ignored the opportunity to take on corporate greed.”
The NDP has a supply-and-confidence agreement with the minority-governing Liberals, which will face a federal election no later than 2025.
Global’s Mercedes Stephenson breaks down Singh’s comments on the budget and whether they could hint at the NDP voting against it.
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Read MoreThe federal government’s 2024 budget proposes changes to how capital gains are taxed, which could see the wealthiest Canadians pay up a bigger share of their returns.
The Liberals announced plans Tuesday to increase the inclusion rate on capital gains, which are the proceeds of the sale of an asset like a stock, income property or a business.
Under the proposal, annual gains realized above $250,000 for individuals would be taxed at a rate of two-thirds, up from the current 50 per cent. Any gains under that bar would continue to be taxed at the 50 per cent rate.
The changes would also apply to all capital gains realized by corporations and trusts, regardless of the $250,000 bar.
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Read MoreThe 2024 federal budget is the government’s plan to build more homes, faster, help make life cost less, and grow the economy in a way that helps every generation get ahead.
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Read MoreThe 2024 federal budget represents a continuation of the Trudeau government’s orgy of spending financed by debt and higher taxes.
It is obviously bad economics, so much so that it is hard to treat it as a serious attempt at coherent economic policymaking. Years of debt-financed government spending and rising taxes have resulted in what is now widely-acknowledged as a national productivity crisis. With low investment and productivity hampering potential output, the Bank of Canada estimates the economy is within 0.5 to 1.5 percentage points of its capacity limit.
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Read MoreRead Part I:
WEF’s Great Reset: The Great Dispossession. The Loss of Property Rights in Financial Assets. “Own Nothing Be Happy”
By Dr. Paul Craig Roberts, April 11, 2024
In Part 1, I reported that we already do not own anything.
The immediate response from readers is: what can we do to avoid dispossession? Offhand, the answer might appear to be debt-free property and gold and silver in personal possession.
However, if the goal is that we own nothing and are controlled under a digital currency regime, these assets will be taken as well.
Webb says if the billionaires and large financial institutions can be made aware of the situation, they could make Congress aware of the regulatory changes and force Congress to use its law-making power to undo the regulatory changes.
After all, if there is no private financial property, there is no one to contribute to Congressional elections.
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Read More“It’s good to see the federal government taking a step forward on the Canada Disability Benefit.
The maximum benefit is significantly lower than many were expecting, including what the PBO estimated would be enough to close the gap between provincial benefits and the poverty threshold. It is unclear whether the benefit amount will vary based on the severity of a person’s disability.
It’s concerning that there was little acknowledgement of the inherent value of work, as well as the benefits, both financial and non-financial, that come from employment. However, the government is right to mention phase-out rates, which hopefully will mean that clawbacks won’t create a disincentive to work.
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