Federal Election Called for Oct 19, 2015

[GGG]

Originally Posted by Azure

What exactly will he sacrifice?

The crime bill will cost Canada more than any environmental policy ever will. And somehow people just stick their heads in the sand over that issue.

My assumption but we will have to see details in the platform is some kind of carbon tax scheme that taxes alberta industries more while transferring dollars to Quebec and BC because of their current hydro output.

It will be disguised as environmental platform but will just be a wealth transfer.

Also I'm strongly opposed to a nationalized daycare program as the current 30-50% subsidy is sufficient.

[OMG!WTF!]

I remember reading Jean Cretien's lips (if that is even possible) and the GST was supposed to be gone. At least Harper didn't lie about it just to get elected.

[GGG]

Originally Posted by Delgar

Care to explain? Canada has had more immigrants during Harper's tenure by a large margin from what I've seen.

If you are talking about the TFW program, I understand there are problems there in particular. Otherwise I'm not sure I get the complaint.

Just read the names of the bills he's passed. When you 1984 the bill names you are not starting from a good place.

Balanced refugee reform act
Faster removal of foreign criminals act

The refugee reforms of naming particular countries safe arbitrarily and denying all claims from them is pretty bad, reducing the appeals process. Denying refugee claimants healthcare. Increasing the government's ability removal of permenant residents.

Also his fear of Muslims in general is rather disgusting and pervades into a lot of different policy like C-24 and others.

[flamesfan6]

Originally Posted by OMG!WTF!

TFSA's
lowered corporate taxes

both of these are bad for canada as they are decreasing tax revenue while increasing spending.... They have removed a source of income - which means they just have to cut other programs or increase debt.

Don't get me wrong - I like TFSA's and I think the 5k/5.5K limit per year was well enough. Increasing it to 10k like they have done does NOT help anyone who actually needs the help. We will be paying for this down the road, and really not a lot of people can afford to max out the TFSA to the max.

The corporate tax rate is already the lowest of the G7 countries - and could be still increased by a few percents and probably really not cause a lot of changes. Was there really a need to lower it?

[killer_carlson]

i'm waiting for the NDP or the Liberals to talk about a carbon tax but that the money taken in carbon tax in each province will stay in that province to fund green infrastructure such as LRT, wind farms, solar farms, etc.

Unless this isn't about the environment and is more about transferring wealth...

[The Fonz]

Which party is "pro-science"?

[SebC]

Originally Posted by The Fonz

Which party is "pro-science"?

I would say that the Liberals come closest to evidence-based policy. Marijuana legalization comes to mind as viable harm reduction strategy.

[OMG!WTF!]

Originally Posted by flamesfan6

both of these are bad for canada as they are decreasing tax revenue while increasing spending.... They have removed a source of income - which means they just have to cut other programs or increase debt.

Don't get me wrong - I like TFSA's and I think the 5k/5.5K limit per year was well enough. Increasing it to 10k like they have done does NOT help anyone who actually needs the help. We will be paying for this down the road, and really not a lot of people can afford to max out the TFSA to the max.

The corporate tax rate is already the lowest of the G7 countries - and could be still increased by a few percents and probably really not cause a lot of changes. Was there really a need to lower it?

There's like a million variables here, but the fact is that the corporate tax rate today is half of what it was 40 years ago, and our corporate tax revenue is almost the same percentage of our gdp as it was in 1967. And the numbers do not vary much year to year. Interestingly the Americans haven't lowered their corporate rate since the 1980's and they have not seen the same increase. So maybe there is a reason. But again, millions of variables.

http://taxfoundation.org/blog/canada...re-tax-revenue

And as for TFSA's I think the smartest thing we could do with our Americanized population is encourage some saving. It's a seriously good move, way more important than slightly more tax at some point in the future. I think it should be limited though.

[Jacks]

Originally Posted by Dan02

Analysts suggest the GST cut cost the government about 7 billion per percentage cut. At the debate the one thing the opposition partys were going on about during the economic portion was the 150 billion dollar debt the conservatives have rung up. Not cutting the GST would have covered the vast majority of that.

I don't think that is accurate, do you have a source?
If I recall each GST point is about 5 billion and that assumes that people would spend the same amount with a higher tax. It's not like that money just disappears, it goes straight back into the economy. People make it sound like Harper just lit that money on fire or something.

[flamesfan6]

Originally Posted by OMG!WTF!

And as for TFSA's I think the smartest thing we could do with our Americanized population is encourage some saving. It's a seriously good move, way more important than slightly more tax at some point in the future. I think it should be limited though.

That's why I said I don't mind TFSA and the original 5k / year limit. The increase to 10k / year doesn't help most middle class families.

[Jacks]

http://www.cbc.ca/news/politics/lind...ound-1.3183999

Linda McQuaig, a star New Democratic Party candidate, says Alberta's oilsands may need to remain undeveloped in order for Canada to meet its climate change targets. The NDP candidate for Toronto Centre told CBC News Network's Power & Politics there should not be a rush to extract from the oilsands without proper environmental assessments.
"A lot of the oilsands oil may have to stay in the ground if we're going to meet our climate change targets," McQuaig said.
"We'll know that better once we properly put in place a climate change accountability system of some kind," she told host Rosemary Barton. "And… once we have a proper review process for our environmental projects like pipelines."

McQuaig later qualified her comments. "I didn't say I want this oil left in the ground. I said we have to have environmental standards." McQuaig suggested that former Alberta Premier Peter Lougheed has himself called for a moratorium on the oilsands.
In fact, in 2011 Lougheed voiced his opposition to the Keystone XL pipeline on economic grounds.

Before NDP supporters dismiss this as the opinion of a single candidate, McQuaig is considered to be a star candidate, is on probably the biggest political show in the country speaking for the party and would surely be a contender for a cabinet post.

[combustiblefuel]

Originally Posted by Dan02

It's interesting when you think about it. Analysts suggest the GST cut cost the government about 7 billion per percentage cut. At the debate the one thing the opposition partys were going on about during the economic portion was the 150 billion dollar debt the conservatives have rung up. Not cutting the GST would have covered the vast majority of that.

What bought them votes years ago could end up costing them this election.

Its typical conservative pandering . Whether its in Canada or the states . You can allows count on any conservative government to run up the debt after coming into office with a surplus .

[SebC]

Originally Posted by craigwd

Actively seeks out and signs free trade agreements. That's something I believe in.

Lowered GST
Increased funding for sport and athletes.

Originally Posted by OMG!WTF!

TFSA's
Reno tax credits
Mortgage and lending rules (fixed a mistake but still)
Closing the income trust loop hole disaster the liberals wouldn't touch
Income splitting
lowered corporate taxes

No one's going to care about this stuff though 'cause haters gonna hate.

Actually, we do care. Harper hasn't even done a good job cutting taxes! Income splitting is mostly a benefit to the wealthy, GST is one of the most economically efficient taxes (ergo, worst choice to cut), and the home renovation tax credit is, in the words of Stephen Gordon (University of Laval economics professor, Globe and Mail contributor) "yet another God damn boutique tax credit".

[robbie111]

Originally Posted by killer_carlson

i'm more scared of Trudeau sacrificing Alberta than I am Mulclair.

Much, much more scared of Trudeau

I actually hope the polls make it close in Alberta between all 3 major parties. I'm hoping that Alberta becomes the swing province in this election that decides who governs.

Is it cynical of me to want to see all the candidates and leaders suck up to Alberta and make lots of promises of programs to help this province.

Probably too naïve expecting leaders to live up to commitments in an election.

[OMG!WTF!]

Originally Posted by flamesfan6

That's why I said I don't mind TFSA and the original 5k / year limit. The increase to 10k / year doesn't help most middle class families.

Of course it does. Putting a hundred bucks a year in a TFSA helps. It's that attitude that keeps people poor.

Originally Posted by SebC

Actually, we do care. Harper hasn't even done a good job cutting taxes! Income splitting is mostly a benefit to the wealthy, GST is one of the most economically efficient taxes (ergo, worst choice to cut), and the home renovation tax credit is, in the words of Stephen Gordon (University of Laval economics professor, Globe and Mail contributor) "yet another God damn boutique tax credit".

No doubt he's cut taxes to get votes. That's a given. But what I like about the god damn renovation tax credit is that it potentially funds itself....people doing small 5k reno's off of Kijiji will now require receipts and losers working for cash will have to pony up their fair share. It also requires participation in the economy beyond the everyday. The 2010 credit worked well at a time when the economy sucked...1out of 3 owner occupied homes took advantage. It just shows a level of thought that I appreciate. Also, you don't have to have fat kids in order to benefit. It's nice the no kid population gets a boutique bone.

[GGG]

Originally Posted by OMG!WTF!

Of course it does. Putting a hundred bucks a year in a TFSA helps. It's that attitude that keeps people poor.



No doubt he's cut taxes to get votes. That's a given. But what I like about the god damn renovation tax credit is that it potentially funds itself....people doing small 5k reno's off of Kijiji will now require receipts and losers working for cash will have to pony up their fair share. It also requires participation in the economy beyond the everyday. The 2010 credit worked well at a time when the economy sucked...1out of 3 owner occupied homes took advantage. It just shows a level of thought that I appreciate. Also, you don't have to have fat kids in order to benefit. It's nice the no kid population gets a boutique bone.

No, lack of money to put into a TFSA keeps people poor.

What income to you need to max out your rrsps and Tfsa? Basically saving 30k a year. And how many people make said income. That's who the tax cut went to.

It's the same as income splitting for families. The people that benefit are the engineers, doctors and lawyers whose spouse stays at home. The two parent families making 50k a piece get nothing from it.

[SebC]

Originally Posted by OMG!WTF!

The 2010 credit worked well at a time when the economy sucked...

The case for it in 2010 is certainly stronger than the case for making it permanent. Now it's adding fuel to the one sector of the economy that might be in a bubble.

[Slava]

Originally Posted by CorsiHockeyLeague

I suddenly understand why you post in the manner you do in political threads.

nm

Originally Posted by GGG

No, lack of money to put into a TFSA keeps people poor.

What income to you need to max out your rrsps and Tfsa? Basically saving 30k a year. And how many people make said income. That's who the tax cut went to.

It's the same as income splitting for families. The people that benefit are the engineers, doctors and lawyers whose spouse stays at home. The two parent families making 50k a piece get nothing from it.

I don't love a lot of the CPC policies, but TFSAs are a great tool. I do see the point that it benefits some more than others, and I hate to say it...but that's OK, right? I mean yes, of course we should help those who need it most, and of course those people should see some benefits more than those of us who are better off, but its OK to have a policy that benefits the middle class and above as well.

I have had a lot of clients use the TFSA effectively and through this downturn here it has made a big difference for them to have access to some savings that actually grew as compared to the traditional "savings account" we're all accustomed to. There are some big advantages with this policy in general, and they're not all easily measured.

Originally Posted by SebC

The case for it in 2010 is certainly stronger than the case for making it permanent. Now it's adding fuel to the one sector of the economy that might be in a bubble.

This is hitting the nail on the head. Instead of these boutique credits they should increase the basic personal exemption or just cut taxes across the board.

I love the quote in the Robson column I posted earlier (which I will only paraphrase) when he says that he can understand subsidizing children, but my patio?!

[OMG!WTF!]

Originally Posted by GGG

No, lack of money to put into a TFSA keeps people poor.

What income to you need to max out your rrsps and Tfsa? Basically saving 30k a year. And how many people make said income. That's who the tax cut went to.

It's the same as income splitting for families. The people that benefit are the engineers, doctors and lawyers whose spouse stays at home. The two parent families making 50k a piece get nothing from it.

I get what you're saying. But TFSA's are not tax cuts. They're available to everyone and encourage people to save and invest...the key to not being poor. I will agree with you however that having zero dollars at the end of the year will preclude you from this benefit. If after all taxes are paid and you do not have $100, the only benefit to you could see is a GST cut, after all, the poor spend most of their money. However, lots of people disagree with cutting the GST because it's really easy to collect and also because they think it makes Harper look bad.

And income splitting...it's not at all like what you think. The biggest beneficiaries lie in the 60-120k families. Yes, rich families benefit as well, but not as many and not any more than the middle income earners. Couples making under 60k are under represented in income splitting but take the most child tax benefit. However, benefiting from an actual tax cut does require actual taxable income. It does suck for single people who get nothing, but then again, there the vast numbers of kidless wonders who will never get the joy of writing off their gym memberships.

[ae118]

Duplicate.