Alberta Politics Thread

[Locke]

Originally Posted by northcrunk

No good. Second drop in a year. By the time the NDP is out of office Alberta will have to rely on payday loans.

I think thats the same drop, it happened in December 2015.

So yes, now we're borrowing more and while interest rates in general are still low our interest rates arent as low as they used to be because now our rating is lower.

[Bend it like Bourgeois]

^^ the budget pegs a pretty meaningful jump in rates for them in 2 years. I think they are pricing in even more credit downgrades to come.

[Locke]

Originally Posted by Bend it like Bourgeois

^^ the budget pegs a pretty meaningful jump in rates for them in 2 years. I think they are pricing in even more credit downgrades to come.

I'm not surprised. So now their mantra of 'deficits during a recession' because interest is low so borrowing costs are low is ringing a little hollow seeing as our credit rating is getting curb stomped and multiplying a HUGE deficit by a low interest rate is still a HUGE number.

At the moment the NDP are saving the Environment that our grand-children arent going to be able to afford to enjoy while working long weeks and paying 50%+ in taxes.

[IliketoPuck]

In my dealings with ratings agencies, they typically don't like a couple things:

1. Rapidly increasing debt.
2. Flat or declining revenues.
3. Increasing expenses.
4. No credible plans to bridge the gap.

[Locke]

Originally Posted by IliketoPuck

In my dealings with ratings agencies, they typically don't like a couple things:

1. Rapidly increasing debt.
2. Flat or declining revenues.
3. Increasing expenses.
4. No credible plans to bridge the gap.

Hmmm.....well thats not gone well then.

What about clueless management that are wildly unqualified and ham-fistedly attempting to figure it out on the fly like Rachel and Joe?

[CaptainCrunch]

Originally Posted by Locke

Hmmm.....well thats not gone well then.

What about clueless management that are wildly unqualified and ham-fistedly attempting to figure it out on the fly like Rachel and Joe?

[Resolute 14]

Originally Posted by MrMastodonFarm

Time to legalise and tax marjiuana in this province

Originally Posted by CaptainCrunch

I doubt that's going to happen, Even the Liberals have put an indefinite delay on the legalization question because of its effects on international treaties.

I think on their things to do list its on page 43 of 44 and they haven't even assigned much in the way of resources to study it.

That does beg a question though: Can a province legalize it independently, or is it exclusively federal jurisdiction?

[CaptainCrunch]

Originally Posted by Resolute 14

That does beg a question though: Can a province legalize it independently, or is it exclusively federal jurisdiction?

From a law enforcement standpoint, it almost feels like it would be federal. In the States it feels like the independant States have more autonomy then the provinces do.

[llwhiteoutll]

Originally Posted by Locke

I think thats the same drop, it happened in December 2015.

So yes, now we're borrowing more and while interest rates in general are still low our interest rates arent as low as they used to be because now our rating is lower.

This is DBRS following S&P's drop back in December. We're going to see another when Moody's follows pretty soon

[Resolute 14]

Originally Posted by CaptainCrunch

From a law enforcement standpoint, it almost feels like it would be federal. In the States it feels like the independant States have more autonomy then the provinces do.

Well, it's not really a 'feel'. The US is explicitly set up to give the states far more rights. Though the lack of federal support does still cause issues - i.e.: banks being leery to go near marijuana retailers because they are under federal jurisdiction.

[Makarov]

Criminalization hurdle is exclusively federal jurisdiction. Regulation is likely provincial.

[Bend it like Bourgeois]

http://calgaryherald.com/news/politi...ion-for-cities

Hehe (who was the hehe poster?)

The mayor is wtf I charge taxes, I don't pay taxes.

[IliketoPuck]

Originally Posted by Locke

Hmmm.....well thats not gone well then.

What about clueless management that are wildly unqualified and ham-fistedly attempting to figure it out on the fly like Rachel and Joe?

It's well known that ratings agencies give a pass so long as leadership repeatedly emphasizes that the "people of Alberta elected us to [insert cliche]."

[stampsx2]

I could post all the mistakes this government has made that would turn into a very long post but instead I'll just sum it up in one sentence

This government is a joke.

[CliffFletcher]

It's worth noting that, owing to its sales tax, Saskatchewan is only going to have a relatively small budget deficit this year. And that loony left talking shop, the Calgary Chamber of Commerce, has called for a sale tax in the province. And it's doubtful Alberta's credit rating would have dropped with the predictable government revenue of a sales tax offsetting the huge decline in energy revenues.

How much is the delay (and it is only a delay) in imposing a sales tax going to cost Alberta?

[Bunk]

Originally Posted by CliffFletcher

It's worth noting that, owing to its sales tax, Saskatchewan is only going to have a relatively small budget deficit this year. And that loony left talking shop, the Calgary Chamber of Commerce, has called for a sale tax in the province. And it's doubtful Alberta's credit rating would have dropped with the predictable government revenue of a sales tax offsetting the huge decline in energy revenues.

How much is the delay (and it is only a delay) in imposing a sales tax going to cost Alberta?

We'll end up paying debt servicing cost instead. Sales tax now.

[Flash Walken]

Originally Posted by Fuzz

Crazy idea... remove all royalties from the budget, increase taxes to compensate. Then rebate royalties to Albertan's every year. On good years, when the industry is doing well, everyone in the province benefits. In bad years, they don't.

more ralph bucks for everyone!

Jesus, I thought we were just talking about the stupid decisions made by the Alberta electorate.

[Bootsy]

Originally Posted by CliffFletcher

It's worth noting that, owing to its sales tax, Saskatchewan is only going to have a relatively small budget deficit this year. And that loony left talking shop, the Calgary Chamber of Commerce, has called for a sale tax in the province. And it's doubtful Alberta's credit rating would have dropped with the predictable government revenue of a sales tax offsetting the huge decline in energy revenues.

How much is the delay (and it is only a delay) in imposing a sales tax going to cost Alberta?

Absolutely not. Until the NDP government can show to be more efficient or at the very least attempt an effort to reduce spending and waste there is no way I would be accepting to give them another cent. Nothing they have done so far shows me they are capable and they are already increasing taxes in the disguise of a "carbon levy".
I have zero trust in them to use tax dollars wisely and flat out refuse to contribute anymore to the current government fat and entitlement while the private sector struggles.

[Fuzz]

Originally Posted by Flash Walken

more ralph bucks for everyone!

Jesus, I thought we were just talking about the stupid decisions made by the Alberta electorate.

Well ya, if you completely ignore the first part of my statement. And perhaps half of revenues to the heritage fund, and half payed out.

[Bend it like Bourgeois]

Originally Posted by CliffFletcher

It's worth noting that, owing to its sales tax, Saskatchewan is only going to have a relatively small budget deficit this year. And that loony left talking shop, the Calgary Chamber of Commerce, has called for a sale tax in the province. And it's doubtful Alberta's credit rating would have dropped with the predictable government revenue of a sales tax offsetting the huge decline in energy revenues.

How much is the delay (and it is only a delay) in imposing a sales tax going to cost Alberta?

It probably is only a delay but there's a 'careful what you wish for' in this too. Adding a sales tax doesn't uncover a magic pot of money in the province, it's just a tax hike. Whether income, sales, or carbon the impact of a tax hike isn't zero, in fact its pretty big, especially on top of all the other tax hikes we already have.

I also think you also have to ask yourself which government of any stripe has found itself with more cash and doesn't simply spend it in the end. If you dump $6B in the government's lap there may be a year or 2 of 'look what good managers we are' but it'll be quickly followed by wage hikes and pet projects until low and behold we still get the same stuff as before it just costs $6b more. Heck we just added $3b-$6b in taxes and what did that do to solve the deficit problem exactly? Every nickel has become new spending.