Trudeau proposes increasing income tax rate to 93%

[Opeeved]

[Off topic

[JLives]

There's little incentive for people to do well in Canada now.

Why would a small business chase extra work and hire more people when the crazy left combo of Trudeau and Horgan have their grubby mitts on 93% of any return available?

It's simply not worth the risk to gamble with an investment in growth when the most one can expect to reap is down to 7% of profits. Safe dividend funds will put that same money to work for a guaranteed 5 - 6% without the hassle, and unfortunately, without the jobs that come with the hassle.

Probably because not all humans operate from a position of "how do I get mine". My working career has been consistently with owners who earned a sustainable living. They think of their workers as assets and revenue generators, not liabilities. You're viewing all business owners as seeing things your way and being purely profit driven but it's not like that everywhere in the real world.

Do you work in the financial sector? That could be why. I'm in the trades. Part of our motivation is working towards a common project and putting ourselves into the work that goes into it. It's truly a team effort and at the end you have a completed project to take pride in. It's a people industry. Not everything is measured in dollars and cents.

[maryjane48]

life isnt the almighty buck . sure folks need to make a living and should be rewarded for hard work . but we have gone way beyond that its now how can i get the most off the backs of others . people dont need to be billinares to be happy . they just need be happy

[Gone_Fishin]

Probably because not all humans operate from a position of "how do I get mine". My working career has been consistently with owners who earned a sustainable living. They think of their workers as assets and revenue generators, not liabilities. You're viewing all business owners as seeing things your way and being purely profit driven but it's not like that everywhere in the real world.

Do you work in the financial sector? That could be why. I'm in the trades. Part of our motivation is working towards a common project and putting ourselves into the work that goes into it. It's truly a team effort and at the end you have a completed project to take pride in. It's a people industry. Not everything is measured in dollars and cents.

While pixie dust and unicorns are fine for those who don't aspire to provide solid incomes for themselves, the fact is that the true investment that runs our economy and provides the tax dollars to support our social services won't happen without the prospect of a great enough return for those risking capital. Trudeau himself is a huge fan of globalisation, and globalists realize that the world is now open to receive their investments, and if Canada isn't favourable, it has never been easier to invest elsewhere.

Investment money has been fleeing Canada at an accelerated pace for the past two years. The key barometer of investment in Canada, the TSX, was the worst performing index of every country in the G20 in the first half of 2017. Yes, the worst, dead last, not just below average. Stock prices increase when demand to invest in those companies goes up. Demand to invest in Canada is currently the worst in the G20, and it's 100% because of national policies such as taxation that is driving money elsewhere.

Although some may say so what, they better stop and think about their personal retirement funds, and the CPP, which depend on that investment to provide a return for your retirement. Trudeau has taken what was the strongest economy of the G7 under Harper, and turned it into the weakest in the G20. Those facts don't lie.

[Urbane]

Economists are not impressed by Trudeau's tax plans:

The 1966 Carter Commission, a Royal Commission report that made recommendations on the most effective ways of taxing Canadians, said the tax rate should not go above 50 per cent.

"We think there is a psychological barrier to greater effort, saving and profitable investment when the state can take more than one half of the potential gain," the report stated.
https://beta.theglobeandmail.com/news/p ... dmail.com&

[Ka-El]

Trudeau has taken what was the strongest economy of the G7 under Harper, and turned it into the weakest in the G20. Those facts don't lie.

I "liked" most of your post, but would like to see some evidence for those "facts". Got a link?

[Gilchy]

These proposed changes are nothing but populist sentiment, trying to appeal to the "working person" by giving the appearance of sticking it to "the rich", but the fact of the matter is these are small businesses we are talking about.

The government (Morneau specifically) has indicated that he wants business owners to effectively be taxed the same as salaried employees, but the tax concept of integration already is supposed to accomplish this. This changes become punative to earning more than you're spending or save within the business, and disincentives people to start a business.

I think it's a bit rich that the architect of these proposed changes is a U of Ottawa tenured professor with a six figure guaranteed employer pension (accumulated at a rate far higher than RRSP contributions for a non-pensioned individual), stating that business owners should have no benefits to the risk of starting a business, and to be punished for retaining earnings.

[Rwede]

Trudeau has taken what was the strongest economy of the G7 under Harper, and turned it into the weakest in the G20. Those facts don't lie.

I "liked" most of your post, but would like to see some evidence for those "facts". Got a link?

Looks like the TSX is the 2nd worst in the G20 this year. I do recall a BNN story about being worst though, through the first 6 months of 2017, whether that makes any difference or not. Might be related to the time frame in each story (6 or 7 or 8 months).

I don't know if being second worst is cause for celebration among Justin's fanbois or not. Maybe a "We're better than Russia" parade?


Ahead of only Russia, the S&P-TSX is the second-worst performing exchange in the G20 this year. From TriVest Wealth Counsel, Martin Pelletier discusses why with co-hosts Kirk LaPointe and Hayley Woodin.

https://www.biv.com/article/2017/8/biv- ... y-tsx-sec/

[Gone_Fishin]

From BNN this morning...even Liberal MPs are wondering why Trudeau and Morneau are so intent on killing Canada's small business sector off.

'GENUINE OUTRAGE' OVER MORNEAU’S TAX PLAN

That’s according to MP John McKay, as quoted in a Canadian Press story about the firestorm surrounding Finance Minister Bill Morneau’s three-pronged plan to tighten up tax rules for private corporations. The issue is expected to figure prominently in the coming weeks as the Liberals and Conservatives hold caucus meetings ahead of the fall parliamentary session. And, today, we’re expecting to see the pressure mount with a public letter from the newly-formed Coalition for Small Business Tax Fairness.

[Ka-El]

Anger builds over tax proposals as Liberals caucus meets

OTTAWA – Liberal backbenchers have been getting an earful this summer from small business owners outraged by the Trudeau government’s proposals to end what it calls “unfair tax advantages.”

And now they’re preparing to unleash the concerns of their constituents – and pressure Finance Minister Bill Morneau to adjust his plans accordingly – during the government’s summer caucus retreat next week in Kelowna, B.C.

http://www.msn.com/en-ca/money/topstori ... &ocid=iehp

[Rwede]

From BNN this morning...even Liberal MPs are wondering why Trudeau and Morneau are so intent on killing Canada's small business sector off.

'GENUINE OUTRAGE' OVER MORNEAU’S TAX PLAN

That’s according to MP John McKay, as quoted in a Canadian Press story about the firestorm surrounding Finance Minister Bill Morneau’s three-pronged plan to tighten up tax rules for private corporations. The issue is expected to figure prominently in the coming weeks as the Liberals and Conservatives hold caucus meetings ahead of the fall parliamentary session. And, today, we’re expecting to see the pressure mount with a public letter from the newly-formed Coalition for Small Business Tax Fairness.

The local MP here (what's his name?) probably hasn't heard a peep, as it seems he's never in his constituency working for local people. Kelowna is built on small business and the Trudeau Tax effect here will be catastrophic.

I think he hides under his new desk in Ottawa to avoid having to deal with issues important to his constituents. Tuck, roll, and hide, military tactic ya know.

Can't wait until that deadwood gets shown the door. Painful lesson for Kelowna people on that one.

[Omnitheo]

Your inability to remember someone's name despite constant reminders sounds like a You Problem.

http://sfuhr.liberal.ca/

There's his contact info. Ask him yourself before you go on hyperbolic assumption tangents.

As for hiding under a desk in ottawa...do you remember Cannan? He was there more than nearly any other MP. What was your tune then? Cannan is hiding under a desk in Ottawa, or Cannan is in Ottawa representing his riding?

[Rwede]

Your inability to remember someone's name despite constant reminders sounds like a You Problem.

http://sfuhr.liberal.ca/

There's his contact info. Ask him yourself before you go on hyperbolic assumption tangents.

As for hiding under a desk in ottawa...do you remember Cannan? He was there more than nearly any other MP. What was your tune then? Cannan is hiding under a desk in Ottawa, or Cannan is in Ottawa representing his riding?

Cannan was always here and always accessible.

He always had time to support events locally.

And he always followed up with people who asked him questions, myself included. He went to great lengths to contact me after a short, casual conversation I had with him at a non-profit event I was attending. He contacted the event's organizers to get my contact info, called me, and said he wanted to follow up and help me with the issue I had briefly mentioned to him. That's service above and beyond, and something we'll never see or hear from what's-his-name Liberal guy.

[Omnitheo]

Yet he had record attendance in Ottawa. so he couldn't have been here more than Fuhr.

Doesn't sound like you've even bothered to try and talk to Fuhr.

Interesting how you can't remember your local representatives name. Getting old?

[Gone_Fishin]