2012 Federal Budget

[GP_Matt]

I like CBC radio.

I also heard they were raising the duty free limit when bringing goods back from abroad. $800 after 48 hours. No extra booze though.

[IntenseFan]

While I think it's madness that it costs taxpayers more than a penny and a half to mint a single penny, I am now officially worried about how I will ever get across the River Styx.

I don't think the ferryman takes two nickles.

[Slava]

Here's Andrew Coyne with a column on the budget. Coyne is pretty awesome...
http://www.calgaryherald.com/news/story.html?id=6381212

[flylock shox]

Strangely, they seem to have forgotten they'll need somewhere to house all the new prisoners the omnibus crime bill is slated to create.

I'm thinking we're going to have to see an increase in creative sentencing and plea bargaining from prosecutors and judges.

[darklord700]

Originally Posted by flylock shox

Strangely, they seem to have forgotten they'll need somewhere to house all the new prisoners the omnibus crime bill is slated to create.

I'm thinking we're going to have to see an increase in creative sentencing and plea bargaining from prosecutors and judges.

How much does a bullet cost?

[MarchHare]

Originally Posted by flylock shox

Strangely, they seem to have forgotten they'll need somewhere to house all the new prisoners the omnibus crime bill is slated to create.

They're passing the cost of building and operating all the new super-prisons to the provinces. Seriously.

[flylock shox]

Originally Posted by darklord700

How much does a bullet cost?

Good question.

I'd venture it probably costs about one and a half bullets.

[MoneyGuy]

This is from an advisor site so regular people may not be able to get in. Slava can; he's not a regular person.

Budget raises OAS eligibility to 67

The federal government hiked the eligibility age for Old Age Security (OAS) to 67 from 65 reflecting the reality that Canadians are living longer and healthier lives, and may prefer to keep working.
However, the changes won’t begin taking effect for 11 years. Federal Finance Minister Jim Flaherty announced the adjustments in today’s federal budget, which also includes spending cuts totalling more than $5 billion.
The eligibility age for OAS will be gradually raised starting in 2023, with full implementation by 2029. The changes won’t affect people who are 54 or older, as of March 31, 2012. Those born on or after February 1, 1962 will have an eligibility age of 67. Those born between April 1, 1958 and January 31, 1962 will be part of the phase-in period, and will have an eligibility age between 65 and 67.
“If you’re an older person, you might be a bit concerned,” says Doug Carroll, vice president, tax and estate planning, Invesco Trimark, who was in the budget lockup with Advisor.ca. “OAS is a fairly small component of most people’s financial plans, if they are also involved in private savings. It’s a discussion point but I don’t see it affecting calculations in a really significant way. “
The budget also includes a new deferral option for OAS. As of next year, Canadians can voluntarily defer their OAS pension for up to five years, allowing for an actuarially-adjusted higher payment in later years.
For example, someone turning 65 in 2013 can defer OAS until they reach age 70. This will give them an annual payment of $8,814 instead of $6,481.
“You can defer your OAS in the same way you can now defer your CPP,” Carroll notes.
Ottawa is also introducing a “proactive enrolment regime” for OAS that will eliminate the need for many seniors to apply. The OAS is the single largest federal government program, costing Ottawa $38 billion in 2011 and projected to increase to $108 billion by 2030.
There are no changes to CPP contribution rates and Ottawa is moving forward on the implementation of Pooled Registered Pension Plans.
The budget includes minor tweaks to retirement compensation arrangements (RCAs), with Ottawa noting the CRA has identified some arrangements that seek to take advantage of various features of RCA rules to obtain tax benefits. The budget proposes new prohibited investment and advantage rules to directly prevent RCAs from engaging in non-arms’ length transactions. The rules are based on existing regulations for TFSAs and RRSPs. (remainder snipped; much less significant)

[flylock shox]

Originally Posted by MarchHare

They're passing the cost of building and operating all the new super-prisons to the provinces. Seriously.

But do they have any agreement with the provinces as to whether and when this will actually happen?

I'm thinking we're just going to see lots and lots of conditional sentence orders as a result of all this.

[MoneyGuy]

Originally Posted by Canehdianman

And no one under 40 should be counting on OAS to be there when we retire anyways.

I disagree. It'll be there, as will CPP.

[dhc-2]

- The immigration system will be reformed to process applicants faster and emphasize getting skilled immigrants into the country to fill vacant jobs.

Curious to see how that gets accomplished, but this is a positive thing.

Not a fan of the military cutbacks. Protecting our natural resources (the Arctic, for example) will become more and more important and we can't be seen to be militarily weak. Russia will only become more bold with their claims and forays into our airspace as time goes on. I am worried about our ability to assert ourselves, now and in the future. I would be in favour of mandatory military service, but I suspect I'm in a significant minority (and that belongs in another thread altogether).

As for aboriginal education, I'd like to think this is a good thing, but it seems to me like this is just another case of throwing money at a problem without any idea how to fix it. The reserve system is a proven failure. Assimilation is a dirty word in this country but if these people aren't made part of mainstream Canadian society, the problems will continue. The obvious obstacle here is that they would view this as a threat to their culture and would resist. It'd be the whole residential school fiasco all over again. This money could perhaps be better spent elsewhere.

[crazy_eoj]

Originally Posted by GP_Matt

I like CBC radio.

I also heard they were raising the duty free limit when bringing goods back from abroad. $800 after 48 hours. No extra booze though.

How is CBC radio so good, and CBC TV so bad? I don't understand....

[justkidding]

Originally Posted by Bobblehead

You are wrong, I know a lot of people who would notice. I know many people who watch the following CBC shows:

22 Minutes
Arctic Air
Dragons' Den
the fifth estate
George Stroumboulopoulos Tonight
Heartland
Hockey Night in Canada
Little Mosque on the Prairie
Marketplace
Mr. D
The National
Republic of Doyle
The Rick Mercer Report

You forgot Coronation Street. I believe it is one of the higher rated shows.

[GP_Matt]

CBC TV has competition. There aren't any other news based radio stations in many parts of the country.

[604flames]

Originally Posted by GP_Matt

I like CBC radio.

I also heard they were raising the duty free limit when bringing goods back from abroad. $800 after 48 hours. No extra booze though.

$200 for 24-hour trips as well.

[mrgreen]

CBC radio doesn't have ads (yet!) so still has some freedom to try and offer something totally different than the commercial stations.

[SeeBass]

Originally Posted by Bobblehead

You are wrong, I know a lot of people who would notice. I know many people who watch the following CBC shows:

22 Minutes
Arctic Air
Dragons' Den
the fifth estate
George Stroumboulopoulos Tonight
Heartland
Hockey Night in Canada
Little Mosque on the Prairie
Marketplace
Mr. D
The National
Republic of Doyle
The Rick Mercer Report

You sir are obviously a troll as you did not include Being Erica

[Handsome B. Wonderful]

Originally Posted by justkidding

You forgot Coronation Street. I believe it is one of the higher rated shows.

Not a CBC show. Another channel can pick it up.

[CaptainCrunch]

Well if CBC cuts thier massive executive traveling and lunch budgets, George Str stops throwing 6 figure taxpayer funded parties for celebrities so he can feel like a rockstar, and the CBC stops paying for porn from france they won't have to cut much of their operating budgets.

Its a pig trough that needs to be reformed.

[krazycanuck]

It makes me smile that one day I'll have to explain to my grandchildren what a "penny hooker" was.