She wants your savings

[MikePal]

The Guaranteed Income Supplement is for people aged 65 or older and piggy backs on the OAS.

https://www.canada.ca/en/services/be...upplement.html

So sorry, my bad...it's the "Guaranteed Minimum Income" that I meant to say...

https://en.wikipedia.org/wiki/Guaran...e%20is%20rare.

[fishfood]

So sorry, my bad...it's the "Guaranteed Minimum Income" that I meant to say...

https://en.wikipedia.org/wiki/Guaran...e%20is%20rare.

Oh yeah back to the basics lol [emoji107]

And who pays for that?

Don't sound like a very promising plan to end poverty [emoji2]


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[Gilroy]

If your interested in how this all works (or doesn't work) ...spent a few minutes and listen to it being explained...

I kinda like most of what he say's but there is no way Canadians especially retired one's are going to risk investing in equities and helping out the economy, they were all burned in the last melt down ,which is exactly why there is a record amount of money just sitting in savings accounts. Retired Canadians are getting next to nothing for interest and the government knows
they will probably gift money to their kid's for their first home, so hence keeping the housing bubble going.Also retiree's are living longer and have no idea if their saving's will keep them till the end.

[impact]

So sorry, my bad...it's the "Guaranteed Minimum Income" that I meant to say...

https://en.wikipedia.org/wiki/Guaran...e%20is%20rare.

Yes, Ford cancelled the pilot.

"The province of Ontario began a minimum income experiment in 2017. Approximately 4000 citizens began to receive a stipend based on their family situation and income.[30] Recipients of this program could receive upwards of $10,000 per year. Government researchers used this pilot as a way of testing to see if a minimum income can help people meet their basic needs.[31] On August 31, 2018, following a change in government, incoming Premier Doug Ford announced that the pilot would be cancelled at the end of the current fiscal year."

[JBen]

I have “mixed” thought on some form of UBI.

In theory, many believe it could work. Germany has started one, I guess they get to be the guinea pig.

Could it work here?
Possibly, but so much around taxation would need to change. However at its simplest and most basic.

What would things look like today, if not for soooo many receiving CERB over the summer. I’m thinking ugly.

The basic premise is that by giving millions a little more picket change. Which they will spend. It helps everyone

Consider the topic and the link to stats Canada. The vast majority of people are living paycheck to paycheck. Struggle to save.

20% of the population saves tons/spends tons......they are still just 20% of the people. As important, maybe more important is where those people spend.

Where do they dine out?
Where do they vacation?
Where do they get oil changes and brakes done?
Ad nauseum.

Certainly not at “no frills”.....

Where as, by putting more spending $ into the pockets of those in lower brackets. Well they spend at Joe Garage, mom/pop diners. And so on and so on, and eventually upscaling. Bottom up, rather than trickle down which has largely been proven to be a sham.

One thing is certain and Pierre Poilivre had a great vid on it. Something to do with a Greek ruler and farmers ultimately killing their cows. Throughout history, when the peons say enough or are broken. Well it all comes crumbling down. Happened in Rome, to the Czars, Marie Antoinette.

and we never seem to learn.

[glen]

Why not just create good paying jobs. what made this country successful in the first place. Simple isn’t it.

[JBen]

How’s that been working?
When I was a kid, most families lived ok on one income.

Are there not serious concerns about CPP? Did Wynne not see a need for ORPP?

Look around today.
Home Depot, Walmart, Amazon getting all the business. While small shops flounder. While most of that is Fords fault. No one is forcing “you” (not you specifically) to order from Amazon. And as Pierre noted in the vid Mike linked above. All that money, your choosing to spend at Amazon is going outside Canada.

People are upset because Freeland send spend your savings... that sounds more like a me first rather than “if we spend we help create jobs”.

Look at the wealth gap. It’s been widening for 60 years. Where is it? Between the well off (upper middle class) and every else. See the link to stats Can.

We can look at free trade and jobs leaving ever since...Automotive and manufacturing also come to mind.

How many people in Canada make $90,000? 10% that’s how many. So where are all these “jobs”


Well now that Alberta is in the Crapper, the gta really.
/points to population and housing prices. Demand>supply.
So sure, let’s crowd even more into the GTA. Because that’s where the $ is.

And on and on and on


Point being.
That approach is failing.
Obviously.

Has been for awhile.
And no matter what, no matter it’s “spun”. Every business, small, large, sole proprietor.

You needs customers with pocket change first.and these days. The majority..............

[JBen]

For perspective only. To “highlight” the point that all businesses need customers with disposable income.

First and foremost.

Many of us, I’m sure can in fact remember growing up in single income households. Today. “Yeah right”....and the median single is in the 40s.....the duo around 80k. Let those numbers sink in.

from the 1990s. Oh so long ago...before manufacturing, before 2008. Before a bunch of new taxes...

“The nearly 21 million individuals who were income recipients in 1995 had an average total income from all sources of $25,196, down 6% from 1990 after adjustment for inflation. This decrease wiped out gains during the second half of the 1980s. As a result, average total income in 1995 was almost identical to that in 1985, and slightly below the level of 1980.”

https://www150.statcan.gc.ca/n1/dail...980512-eng.htm

Obviously taxation is part of the problem. As is PS being immune to downturns. So the “cost” of government remains the same, while incomes on the whole go down. Repeat that a dozen times and........

Point being. Or points if you will. Stagnant wages, jobs leaving Canada, taxation and more. Are part of it too...and despite all the virtue signalling...

The have nots, middle class
Are getting pummelled.

And any business needs people with change to spare. Which these days the majority of the population do not have.

[mosquito]

Well we only work January through to into May (43%) for money to put in the gov't's pocket... probably more now with the new carbon taxes etc.
https://globalnews.ca/news/3691159/c...ser-institute/

[fishfood]

For perspective only. To “highlight” the point that all businesses need customers with disposable income.

First and foremost.

Many of us, I’m sure can in fact remember growing up in single income households. Today. “Yeah right”....and the median single is in the 40s.....the duo around 80k. Let those numbers sink in.

from the 1990s. Oh so long ago...before manufacturing, before 2008. Before a bunch of new taxes...

“The nearly 21 million individuals who were income recipients in 1995 had an average total income from all sources of $25,196, down 6% from 1990 after adjustment for inflation. This decrease wiped out gains during the second half of the 1980s. As a result, average total income in 1995 was almost identical to that in 1985, and slightly below the level of 1980.”

https://www150.statcan.gc.ca/n1/dail...980512-eng.htm

Obviously taxation is part of the problem. As is PS being immune to downturns. So the “cost” of government remains the same, while incomes on the whole go down. Repeat that a dozen times and........

Point being. Or points if you will. Stagnant wages, jobs leaving Canada, taxation and more. Are part of it too...and despite all the virtue signalling...

The have nots, middle class
Are getting pummelled.

And any business needs people with change to spare. Which these days the majority of the population do not have.

Not many think about what's under them or care . There are alot of people struggling and it's not just financial. It's been going on long before this pandemic .




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