Gazing into the future...
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Thread: Gazing into the future...

  1. #1
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    Gazing into the future...

    Not that any of this is surprising, but stuff the general population who continue to ask for more will continue to ignore...

    http://www.fin.gc.ca/pub/ltefp-peblt...-peblt-eng.pdf

    Or, for those of you who prefer to have someone else read the report and present their interpretation...

    http://www.torontosun.com/2017/01/04...+fiscal+crisis

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

  2. #2
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    Quote Originally Posted by Just a Guy View Post
    Not that any of this is surprising, but stuff the general population who continue to ask for more will continue to ignore...
    http://www.fin.gc.ca/pub/ltefp-peblt...-peblt-eng.pdf
    Or, for those of you who prefer to have someone else read the report and present their interpretation...
    http://www.torontosun.com/2017/01/04...+fiscal+crisis
    Thanks for posting.
    People should be aware of and considering the implications of the massive ramp up in federal federal spending (new thread subject).
    For example, is the current capital gains inclusion rate (50%) at risk? If a growing economy doesn't bail out the gov't and they start looking for higher tax revenue, it seems to me capital gains that "the rich benefit from" might be an easy target.

  3. #3
    Senior Member sags's Avatar
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    Where is the problem ?

    A 30% debt to GDP ratio if the economy grows at a slow rate is well within sustainable levels.

    Overall debt numbers rising over time is normal. The economy has grown over time as well.

    Government revenues are higher and government assets are worth more.

    Nothing in this report points to a looming crisis, but the Sun media will spin it that way anyways.

    The guy quoted says he can remember Pierre Trudeau.

    He must have forgotten about Brian Mulroney and Stephen Harper's contributions to the debt.

    The last government that paid down the debt were the Liberals.
    Last edited by sags; 2017-01-05 at 01:45 PM.
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    ^Not a crisis for you sags, who recently told us you're 67? Threat title is about the future.

  5. #5
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    How about the first chart? By 2035 10M people over 65 collecting government subsidies and not contributing to the tax pool...up from the current 6M. Population of Canada is only 35M.

    Borrowing to meet current spending, when interest rates are nearly zero...

    Taxes are already at an all time high...

    Yep, no problems whatsoever...we can always tax the rich and corporations.

    The real reason they'll legalize marijuana...no one will care.
    I'm not JustAGuy (without spaces), or Donald, or <insert name here>.

  6. #6
    Senior Member sags's Avatar
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    If Canada has a looming crisis..........what does the US face ?

    •Federal debt projections

    -2017: $635 billion

    -2021: $746 billion

    -2030: $992 billion

    -2045: $1.5 trillion

    The US national debt is $20 Trillion dollars for 2017.

    They have 10 times the population and 30 times the debt.
    Someone planted a tree a long time ago and now I sit in the shade.

  7. #7
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    I have to agree that the alarmists on the federal fiscal situation are not very persuasive. A 30% debt:GDP that will slowly decline over the next few years is NOT a fiscal crisis. It is, if anything, at the far end of fiscal laxity that is sustainable. I would prefer a fiscal plan that was a bit more robust in that it could tolerate negative shocks. We need to plan for debt:GDP to decline because shocks will tend to be negative and add up to 5% of GDP to the debt.

    Really I think the conversation should be about spending priorities, because we can't do everything.

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    And you think they are doing well? I suppose if you're in the 1% everything is fine, but they seem to have a lot of riots, poverty and issues...

    Not to mention their marginal tax rate is about half of ours.
    I'm not JustAGuy (without spaces), or Donald, or <insert name here>.

  9. #9
    Senior Member sags's Avatar
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    CPP, OAS, pensions, and RRSP withdrawals are all taxable. Retirees pay all the other taxes that everyone else pays.
    Someone planted a tree a long time ago and now I sit in the shade.

  10. #10
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    Not nearly the same amount as they did while working...

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

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