The budget, according to the lieberals was supposed to be balanced right now, is now forecast to have a deficit of $110 B in the new fiscal year. This why longer term rates are headed higher. Everybody is on the dole now as income supports for people still working and the unemployed are now a significant portion of the economy, while tax revenue has disappeared. Wait till the capital gains tax carry backs hit. I had one of those in 2019 by unloading an oil company shares after a few years of claiming some gains. There is nothing left of the canuckistanian economy. Just a glimpse of the post covid future.
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Last edited by ajl; Mar 20, 2020, 08:58. -
You are 180 degrees out on your thinking, yes Canada is headed towards being a "have not country", but interest rates will have to decrease even further to continue what little consumer spending we have left after this virus scare. Our entire economy has now been switched from a wealth creating economy to a consumer driven economy. This government and future governments will have to rely on that consumer spending so that they can increase taxes on said spending to try at the very least to balance future budgets. You are right on the fact that capital gains and perhaps even " a death tax" will be the next big revenue source for the government. -
They had better hurry up on the death tax, might pay a few Bill's off that this spring.Originally posted by Misterjade9 View PostComment
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No country will escape. Bad mouthing our situation is not helpful . Look in the mirror and see what you can do to help instead of bitching . That is pathetic and we are doomed if everyone takes your attitude.Comment
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You need to social distance yourself from your keyboard. What in my post was bad mouthing? What I
commented on is the truth, interest rates will have to go lower to spur consumer spending, which we hope at the very least will maintain the same tax revenue.Comment
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Not your post .not against facts just fear mongering and blame.Originally posted by Misterjade9 View PostComment
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I think you have that taken care of on here for sure.Originally posted by agstar77 View PostComment
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Hopefully you lefties with have now learned that being drama queen alarmists all of 2019 for political reasons was not helpful. In 2019 we heard that the world would end due to the CO2 levels and plastic from Sask will kill all the whales. In January of 2020 lefties were whipping up a frenzy that Trump was starting WW3.Originally posted by agstar77 View Post
In March 2020:
-Plastic bags are back in full effect and reusable bags are being banned in grocery stores.
-USA and Iran are at peace.
-We are now working at stopping a virus that was started in Communist China.Comment
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I guess one hoax has been realized.Comment
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AJL. Why the hell is anyone worrying about a balanced budget at this point in time? LMAO
Prior to the Covid crisis the US had higher debt to GDP ratio and theirs was going up. Canada's was lower and projected to go down.
But don't let your undying support for Trump and his tax cutting, deficit and debt increasing spending get in the way of your bitching about Canada.
Canada is a third world country? hahahahaha. What a joke.
You need your ass shipped off to live in a real third world country so you really understand wtf you are saying!Comment
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