Oct 2015 Alberta Budget Discussion

[shermanator]

Greg Clark ‏@GregClark4AB51m51 minutes ago
Alberta has a structural deficit created by Klein, exacerbated by Stelmach, ignored by Redford. NDs had a chance to fix it but didn't #ableg

[puckedoff]

Originally Posted by mrkajz44

And that's without the impact of raising the corporate rate - I don't think people realize how much corporate tax planning uses Alberta due to the old low rate. You can kiss that revenue good-bye now too, as there is no point to run money through Alberta versus someone's home province.

It may be because this may be a difficult number to quantify or because your average joe doesn't understand it, but I think this has been a big part of the 'Alberta Advantage' and is very much overlooked.

[llwhiteoutll]

Originally Posted by polak

God I wish someone would post those numbers on my FB so all the anti-NDP ####s would shut up.

Depends how they were calculated though. If they were calculated from the “effextive date” of October 1, then they are wrong. The tax hikes are retroactive to January 1 2015. We already go an email from payroll saying that those affected need to fill out a TD1 to deduct in order to cover the first 9 months.

[Tacopuck]

Liquidating Contingency funds to fund capital projects = bad idea
Borrowing money to cover operating costs = bad idea

Uhg....

[Locke]

Originally Posted by llwhiteoutll

Depends how they were calculated though. If they were calculated from the “effextive date” of October 1, then they are wrong. The tax hikes are retroactive to January 1 2015. We already go an email from payroll saying that those affected need to fill out a TD1 to deduct in order to cover the first 9 months.

Oh, they wouldnt do that. Its poor tax policy and supporter or no, the torches would be out and the pitchforks would be sharpened.

[peter12]

Dumping money into capital infrastructure projects makes government sound swell for the short-term until the added maintenance and operational costs (that are never factored into the project design) start to mount up.

We have that problem where I work. Tons of new capital projects going up all over the place. Very little idea how to pay for their long-term maintenance.

[Kjesse]

Originally Posted by sworkhard

Must be finishing Allison Redford's penthouse suite....

But really... I wonder why they need 1.6B in government buildings.

Big government requires big buildings to operate in.

[CorsiHockeyLeague]

The result, from what I can see (for 2016):

From $0 to $44,701 - 25% Combined Federal / Provincial Rate
From $44,701 to $89,401 - 30.5% Combined Federal / Provincial Rate
From $89,401 to $125,000 - 36% Combined Federal / Provincial Rate
From $125,000 to $138,586 - 38% Combined Federal / Provincial Rate
From $138,586 to $150,000 - 41% Combined Federal / Provincial Rate
From $150,000 to $200,000 - 42% Combined Federal / Provincial Rate
From $200,000 to $300,000 - 47% Combined Federal / Provincial Rate
Above $300,000 - 48% Combined Federal / Provincial Rate

[heep223]

They're still using oil price assumptions that are wayyyyyy higher than what the futures curve is saying. Just like Redford did, which is what got us into this mess in the first place. It is convenient though, so they can "promise" to balance the budget by whatever year down the road.

[sworkhard]

Originally Posted by CorsiHockeyLeague

The result, from what I can see (for 2016):

From $0 to $44,701 - 25% Combined Federal / Provincial Rate
From $44,701 to $89,401 - 30.5% Combined Federal / Provincial Rate
From $89,401 to $125,000 - 36% Combined Federal / Provincial Rate
From $125,000 to $138,586 - 38% Combined Federal / Provincial Rate
From $138,586 to $150,000 - 41% Combined Federal / Provincial Rate
From $150,000 to $200,000 - 42% Combined Federal / Provincial Rate
From $200,000 to $300,000 - 47% Combined Federal / Provincial Rate
Above $300,000 - 48% Combined Federal / Provincial Rate

0-~11500 = 0%
~11500-~18500 = 15% (Federal tax only at this point)
18500-44701 = 25%

[Harry Lime]

Originally Posted by Regorium

I'd be on board with slashing teachers/nurses/doctors salaries as well.

They're the most well compensated in all of Canada, and when everyone is suffering around them, they should take a hit as well as slashing middle managers and admins.

"Who goes there? Walking on my bridge? You will have to pay a toll!"

"Why it's me. A teacher that corrals your horrible spawn under unbearable conditions."

"My children can do anything that they please, as I am a wonderful parent, and my live in child care givers are from distant lands!"

"Can you at least make them do their homework?"

"That is your job, somehow! You make less money than I do, therefore I am your better, and you are my slave. You will take what I give you, and thank me for allowing you time to sleep during the week. Now, get off my bridge."

[sworkhard]

Originally Posted by heep223

They're still using oil price assumptions that are wayyyyyy higher than what the futures curve is saying. Just like Redford did, which is what got us into this mess in the first place. It is convenient though, so they can "promise" to balance the budget by whatever year down the road.

How accurate is the futures curve though. Did it predict the current price of oil 3 years in advance?

[Locke]

Originally Posted by Harry Lime

"Who goes there? Walking on my bridge? You will have to pay a toll!"

"Why it's me. A teacher that corrals your horrible spawn under unbearable conditions."

"My children can do anything that they please, as I am a wonderful parent, and my live in child care givers are from distant lands!"

"Can you at least make them do their homework?"

"That is your job, somehow! You make less money than I do, therefore I am your better, and you are my slave. You will take what I give you, and thank me for allowing you time to sleep during the week. Now, get off my bridge."

Yeah. Thats exactly how it works. Thanks for trying to live in the same world as the rest of us.

[peterh]

I've got $452 million of savings, do not future-proof the SW Ring Road for a potential 2nd Ring-Road in 40 years. Alberta does not need a 16 lane highway anytime in the next 50 years...

http://discoveryridge.com/2015/10/21...d-is-coming-4/

[heep223]

Originally Posted by sworkhard

How accurate is the futures curve though. Did it predict the current price of oil 3 years in advance?

Hell no. It was in backwardation back then, now it's in contango because prices are so low. It's not very accurate, hypothetically it's based on the underlying economics of trading, storing and delivering the commodity, among other things. The issue is that the government always uses inflated numbers to make their budget look better.

Just use today's price, or use the futures curve. Don't use inflated numbers that they pulled out of a hat.

[CaptainCrunch]

just came up on twitter

Brian Jean ‏@BrianJeanWRP 34m34 minutes ago By 2017, interest payments on our debt will be more than the cost of our Justice department #ableg

[Harry Lime]

Originally Posted by Locke

Yeah. Thats exactly how it works. Thanks for trying to live in the same world as the rest of us.

I think children have the same overall value as a car or a barrel of oil, as well. We should probably make their primary learning environment as crowded and ill funded as possible, because it's funny.

[Knut]

Just for Clarificiation. Is it 10% on the first 125k, Then 12% from 125-150 and finally 13% from 150-200k ?

[Locke]

Originally Posted by Harry Lime

I think children have the same overall value as a car or a barrel of oil, as well. We should probably make their primary learning environment as crowded and ill funded as possible, because it's funny.

And its also funny that that is absolutely not even remotely close to what I'm suggesting. I'm not even suggesting reducing teacher's pay.

I advocated trimming administrative fat and looking into cutting back some benefits.

But yeah, if the various receptionists and administrators are in charge of working conditions and class sizes then the education system is in more trouble than I realized.

[Harry Lime]

Originally Posted by Locke

And its also funny that that is absolutely not even remotely close to what I'm suggesting. I'm not even suggesting reducing teacher's pay.
I advocated trimming administrative fat and looking into cutting back some benefits.
But yeah, if the various receptionists and administrators are in charge of working conditions and class sizes then the education system is in more trouble than I realized.

My sarcastic comment (although the spirit of it is true, in my opinion) wasn't directed at you, and your comment towards administration. In fact there are some major problems concerning administration of education in this province. Rather it was toward the inevitable tagging on of teachers and nurses to the question of pay and condition of public service. (Why I quoted the "let's cut teacher, nurse, doctor pay comment)

I realize I was being an ass about it.