Gazing into the future... - Page 3
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Thread: Gazing into the future...

  1. #21
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    I concentrate on earning money, my accountant concentrates on filing the taxes. He's educated me on what I need to know to minimize the taxes in what I do, I rely on him to know the details and do the proper filing.

    There are a limited number of hours in the day, I've got better things to do than read the tax code, like spending time with my family. There is enough for me to read daily that concern my investments, real estate and my businesses...

    I'm not JustAGuy (without spaces), or Donald, or <insert name here>.

  2. #22
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    Quote Originally Posted by zylon View Post
    Hahaha! Excellent - I really did laugh out loud.

    In my future, I see a really hot place (crematorium)
    and gold plated urn.


    It's healthy to LOL. The age was brought up because those nearing 70 won't be affected as much as the younger generations, not that sags won't live to the projected 2056.

  3. #23
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    Quote Originally Posted by Just a Guy View Post
    Highest tax contribution is through income tax. No other form is nearly as lucrative.

    I've got the solution though, Apple should buy Canada. It's got plenty of money, they could pay cash. They could set their own tax rate, saving them a ton of problems like they are having in Ireland. They'd have access to all the natural resources and educated staff they'd need. We could all be employees, they just paid out 20Billion to developers alone. The rest of the world's purchases could easily fund the country...

    Win win.
    Canada is worth a lot more than Apple. Many trillions of dollars.

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  5. #24
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    Once the spending is ramped up, it is very hard to rein in. Particularly so when it's done on a permanent basis as opposed to temporary one-off measures the previous government undertook.

    Not only that... We have been literally burning cash for nothing. All these spending hikes haven't helped the economy in any way shape or form.

    And no... Nobody in recent history loaded future generations with debt like Pierre Trudeau.

  6. #25
    Senior Member sags's Avatar
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    Quote Originally Posted by mordko View Post
    Once the spending is ramped up, it is very hard to rein in. Particularly so when it's done on a permanent basis as opposed to temporary one-off measures the previous government undertook.

    Not only that... We have been literally burning cash for nothing. All these spending hikes haven't helped the economy in any way shape or form.

    And no... Nobody in recent history loaded future generations with debt like Pierre Trudeau.
    PC Mulroney was the king of debt.........adding $350 Billion.

    PC Harper was second on the list..........adding $150 Billion. (chart only goes to 2014)

    Liberal Pierre Trudeau was way back of the pack........adding $80 Billion.

    PC Joe Clark added $70 Billion.

    Liberal John Chretien added $5 Billion.

    Liberal Paul Martin paid $9 Billion off the debt.

    For all their talk and bluster.........Conservatives are the big spenders.

    Liberals had 11 straight years of budget surpluses before Harper took over as PM.

    The 2009 federal budget brought back big spending in a big way.

    Not only does this spending spree waste your money, it will also steal your children’s.

    The Harper government plans to rack up an astonishing $85-billion in new debt in just five years.

    Eight years of debt reduction will be wiped out with this one budget.

    https://www.taxpayer.com/media/CoverStory24-27WEB.pdf
    Last edited by sags; 2017-01-05 at 10:13 PM.
    Someone planted a tree a long time ago so I can sit in the shade.

  7. #26
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    ^ Incredibly bad basic math for a "money" forum or a deliberate attempt to mislead. It's not the absolute numbers that matter, particularly so when we are discussing leaders separated by many decades and periods of high inflation.

    Here is what your chart shows:

    - Pierre Trudeau increased debt by 738.7%.
    - Brian Mulroney increased the debt by 67.7% (unavoidable as interest rates had to go up to counteract Trudeau's inflation and the inherited mountain of debt was humongous, over 100% of GDP).
    - Stephen Harper increased the debt by 12.6%.

    Other relevant pieces of information:

    - Trudeau had federal spending increased fro $13 billion to $109 billion
    - Debt grew from $11.3-billion in 1968 to $128-billion in 1984.
    - Deficit exploded under Trudeau. When he left it was $133 billion in today's dollars.

    Harper's government increased expenditure to deal with the world financial crisis (by far less than the Liberals demanded) and balanced the books by the end of its term.
    Last edited by mordko; 2017-01-05 at 10:34 PM.

  8. #27
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    Thanks for countering with some facts mordko, I wasn't sure where one should begin.

    Here are 75 interesting charts that people should scroll through. From Mcleans in December provided by dozens of sources. I wish I had better news.
    http://www.macleans.ca/economy/econo...watch-in-2017/

  9. #28
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    Trudeau really did get the ball rolling when it comes to canadian spending and debt.

    Brian Mulroney really didn't have much of a chance to turn around the super tanker of debt along with the very high interest rates. He did however set the table for future prime ministers to finally turn the ship and they also had the help of interest rates dropping.

    I wonder if the Trudeau of today will start the debt and spending train again with future rates rising and turn back the clock.

  10. #29
    Senior Member sags's Avatar
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    Percentage increases are deceptive, if they start from continually higher baselines.

    Trudeau increasing the debt by 738% was $70 billion less than Harper increasing debt by 12%.

    The premise that all the PC governments adding more to the debt was due to unfortunate turns of events....is a nice spin attempt.

    Maybe it is true though, and the Liberals are just luckier than the Conservatives.

    Apparently, it has been better to be lucky than good.
    Last edited by sags; 2017-01-05 at 11:52 PM.
    Someone planted a tree a long time ago so I can sit in the shade.

  11. #30
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    Ok, let's take absolute numbers, but you are comparing apples and oranges. That's bad. Anyone with very basic levels of financial literacy should know why one can't directly compare 2015 and 1984 dollars.

    Debt results from deficits. Let's take 2015 dollars and compare annual deficits.

    - in 1968 when Trudeau came to power his first deficit was 667M.
    - in 1979 it was 10.9 B.
    - in 1980 when Trudeau started another span in office, his first deficit was 14.5B
    - in in 1984 when Trudeau left office, the deficit was 39B.

    - Harper started with a 13.9B surplus in 2006.
    - Harper finished with a 1.9B surplus in 2015.

    Harper had a large deficit in 2009 (55.6B) in the midst of the crisis. It was 3.6% of GDP. Every other year deficits were much smaller. Harper's government reined in the spending and left Canada with a surplus.

    In 1984 Trudeau left Canada with a gaping budget hole which constituted 7.9% of GDP.

    There is no literate person who can honestly claim that Pierre Trudeau did not destroy Canada's finances, or that Harper was more profligate.

    Last edited by mordko; 2017-01-06 at 12:47 AM.

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