Alberta to have $11.6 Billion surplus

[MelBridgeman]

Calgary centric mostly

1. High Speed Train between Edmonton/Calgary and Vancouver (BC could use income from there new Olympic (nee Carbon) tax to pay there part :~)
2. Two new Arts and Entertainment Buildings that include state of the art concert (arts) and ice facilities (also an art form)
3. Gut the East Village and make it a cool place to hang out. Condos, Parks, restuarants, walkways, waiting pools, wrestling ring and cool shops.
4. Make the Calgary tower larger, restore it to its former glory.
5. Announce an aid package to Ontario. But never follow through.
6. Buy the HNIC song back from CTV. Play it at the provincial and international borders - it can be the alberta national anthem, once step closer to a new nation.

[Ozy_Flame]

Originally Posted by Azure

Arts is more important. Why on earth would anyone want to propose income tax cuts that would only strengthen the economy even more?

$12 billion dollar surplus for a Canadian province? Good grief, how much more do you want??

Seize the day. Do something worthwhile and beneficial for Alberta's future.

[Azure]

Originally Posted by Muta

Strengthening the economy would be developing the minds and improving the lives of the citizens that run it. Arts do that. I don't know why you can't see this.

Income tax cuts are great; but let's start thinking outside the box; let's start investing in areas that develop the minds of those who will one day be the artists / doctors / scientists / teachers / etc. that will lead Albertans into the future. It requires investment, and it's an expense worth budgeting for.

In case you never noticed, I originally 'agreed' with supporting 'art.'

[Slava]

Originally Posted by Canada 02

tomorrow is tax freedom day for the average Canadian. I'm sure the average Albertan had it a few weeks ago, nevertheless, you're all taxed up the ying yang. The Alberta government is taking $11.6B to much for its citizens and corporations

Time for the Conservatives to start acting like it

This is such bunk....no one in Alberta pays fifty percent tax or anywhere near it. The full highest tax rate is 39% here. I think that this tax freedom day must include CPP/OAS, EI and things like that...

[Azure]

Originally Posted by Ozy_Flame

$12 billion dollar surplus for a Canadian province? Good grief, how much more do you want??

Seize the day. Do something worthwhile and beneficial for Alberta's future.

Sarcasm is REALLY lost on some people around here.

Sheesh.

[Canada 02]

Originally Posted by Slava

This is such bunk....no one in Alberta pays fifty percent tax or anywhere near it. The full highest tax rate is 39% here. I think that this tax freedom day must include CPP/OAS, EI and things like that...

I'm sure the average Albertan had it a few weeks ago

did you miss this part?

[Ozy_Flame]

Originally Posted by Azure

Sarcasm is REALLY lost on some people around here.

Sheesh.

My bad. I'm having a brain fart. That comment came across as sarcastic on the opposite end, so I just misinterpreted.

[Slava]

Originally Posted by Canada 02

I'm sure the average Albertan had it a few weeks ago

did you miss this part?

Thing is that the average Albertan doesn't pay 39% though...that is the highest marginal tax rate. I would say that the average albertan pays 32%....including both federal and provincial taxes. With the Alberta tax being a flat 10% I can't see how much lower we should make it.

Its totally off-topic and for that reason I'm not going to get into it here, but the real tax solution for the average albertan is to index the basic exemption.

[Thunderball]

incidentally, am I the only one outraged that the government is announcing an $11.6 billion surplus when the city is about to raise property tax citing lack of funds, and the government increased its royalty scheme because it "didn't get enough money"?

Needless to say, most of this should go to the Heritage Fund... the rest to the cities for LRT, roads, maintenance, schools, hospitals and rec facilities.

After that, I would re-evaluate the Corporate Tax in Alberta and look to designating more money directly to civic infrastructure to encourage the cities to keep taxes where they are or lower them.

[jammies]

Turn Red Deer into a university town as I suggested in another thread. A huge world-class university has spillover benefits that pays for the original investment many times over.

[Traditional_Ale]

Originally Posted by Antithesis

That's quite the generalization there, Trad. I have several friends who are fine arts teachers and they aren't "crap" and they certainly are not uninspired. I would agree that more money could be spent on Arts education in schools to give our kids more opportunities to express themselves but at the same time I could do a lot of cool stuff if my yearly budget for the Science program was increased from the pittance it is right now.

I can tell you are passionate about what you are discussing but when you say things like "we give them crap music classes in crap schools run by totally uninspired crap music teachers", it doesn't really help make your point because it's insulting and untrue. I hate to bring education rants in here but if you could see the energy put in by the majority of teachers in our schools there is no way you'd be saying that. Teachers complain about coaching which is - at most - a 2 month committment ... being a band teacher in our school is an investment in time every single day, before school, at lunch, and going to after school recitals for our kids to perform. Really, really disappointing comments.

I'd love to see the money invested in the huge backlog of school infrastructure, just including the schools that need to be maintained or brought up to safety standards. Also I'd like to see some investment in mass transit, and a lot of this surplus going into the Heritage Fund. I'd love to see some kind of legislation that says 1/2 of all surpluses must go into that fund.

You are totally right. I have known way too many fine and inspired music teachers in this town.

I was really mad when I wrote that, and I apologize for my gross generalization.

[SebC]

Originally Posted by Ozy_Flame

Disagree. Dubai, for all the oil they sit on, are expecting it to run out in the next 10-20 years. As such, they are diversifying into tourism and service industries, and will be a tourist hotspot that was built with oil money.

When your economy is going to the ter, like the oil economy ultimately will in Alberta at some point or another, you'll be glad there's other industries we can rely on to survive.

Hasn't anyone told you to never put all your eggs in one basket? Well, we have plenty of other eggs to put in many other baskets.

I didn't say we should put all our eggs in one basket. I said we'd be better simply investing the money through the financial system, rather than trying to force our economy to diversify in face of market forces that will make it very costly to do so. And even if you do want to do that, it's better to wait. Save your money now, and build your infrastructure / reduce taxes / invest in your economy when things start to cool off.

Your Dubai example is duly noted, but I'm not sure building sand islands that look like palm trees and a 700 meter tower is a path that Alberta could successfully follow.

Yeah, the oil will eventually run out or be replaced with other energy sources, but I don't think we have to worry for a while. Not with China and India developing at the rate that they are.

[SebC]

Originally Posted by SeeGeeWhy

I would be for the creation of a free university system for residents of Alberta.

The problem with free university is that students would take it for granted. You're creating an economic system that doesn't properly account for the benefits to the student. Ideally, the split between public and private funding for university would be such that the investment makes sense for both the government and for the student.

I used to be of the mentality that university is an investment for the government and thus should be made free, until I realized that the vast majority of people who would be affected by this are already at university because they realise it will pay off for them at the price they currently pay, and that making university free would simply put money into the pockets of those who would be attending school already on the basis of having the best grades, and other admission factors.

I realize that some people won't go to school due to economic pressures, but I think the best way to deal with this is through loans. If you're going to invest in education, invest in expanding the universities to accomodate more students rather than simply transfering wealth to those who are already attending.

Originally Posted by Azure

Why on earth would anyone want to propose income tax cuts that would only strengthen the economy even more?

If by strengthen, you mean overheat, then I agree. When the economy is doing well is the time to fill the coffers, so you can stimulate it when it's not.

[SebC]

Also, I love the idea of transferring wealth back to the cities, but it won't happen because of the way our electoral districts are set up. There are way too many rural districts with small populations skewing the democratic process in Alberta. As a result, us city slickers get to subsidize their lifestyles.

[Shawnski]

Originally Posted by Slava

Thing is that the average Albertan doesn't pay 39% though...that is the highest marginal tax rate.

And income taxes are the only taxes Canadians pay.... riiiiiight.

Originally Posted by Thunderball

incidentally, am I the only one outraged that the government is announcing an $11.6 billion surplus...

Funny, and here I thought this was one blurb from one bank that sparked this little topic...

[McMack]

The province needs to start directing some heavy money towards reducing the carbon footprint of the tar sands. It doesn't matter whether you believe in global warming or not. If voters in Ontario decide to implement a carbon tax system, it will cost our province dearly. And I'm pretty confident that Eastern voters would have no problem supporting a tax regime that results in tax money being redirected from Alberta to Ottawa.

[psicodude]

I think the most important thing to remember here, is that our current "good times" will not last forever. I think it makes the most sense to spend a couple billion on one-time capital spending....things like infrastructure...that will help stimulate the economy in the future. Going crazy on things like schools and hospitals will really hurt when the lean times come, and we can no longer afford them.

I guess my point is...put some thought into things. Don't just go out and buy votes.

McMack - Shouldn't it be the oil companies that are spending money on reducing their carbon footprint? I am not sure how the gov't spending a dime helps anything.

[Azure]

Originally Posted by Shawnski

Funny, and here I thought this was one blurb from one bank that sparked this little topic...

Chances are if the price of oil keeps going up the surplus will get even bigger.

$20b here we come!

[Azure]

Originally Posted by McMack

The province needs to start directing some heavy money towards reducing the carbon footprint of the tar sands. It doesn't matter whether you believe in global warming or not. If voters in Ontario decide to implement a carbon tax system, it will cost our province dearly. And I'm pretty confident that Eastern voters would have no problem supporting a tax regime that results in tax money being redirected from Alberta to Ottawa.

All the more reason to separate and build nuclear weapons.

[psicodude]

Originally Posted by fotze

Well the gov't is the biggest collector of oil profit in the province, i.e. oil company. Just sayin'.

I get your point, but doesn't a company like Shell treat 11.6 billion like chump change?

This is a discussion best saved for another thread though.