Wealth Tax

[werner.reiche]

Good article on wealth tax in todays FP.
https://www.msn.com/en-ca/money/tops...ng/ar-BB1cAjvC

First Paragraph:

The NDP can salivate all it wants over the prospect of a wealth tax, but eating the rich would hardly satisfy Prime Minister Justin Trudeau’s appetite for spending. The Parliamentary Budget Officer says a wealth tax might have brought in $5.6 billion this year. But the Trudeau government is currently spending $1.8 billion per day. In any given week, it would burn through the wealth tax by Wednesday.

... lots of other good stuff

I didn't know Europe had abandoned wealth taxes. I knew they had them decades ago and assumed they were still in place:
Perhaps most troubling is the very real prospect of an exodus of capital out of Canada as the wealthy react to the imposition of the tax. That’s a key reason why many European countries that had wealth taxes in the 1990s have since abandoned them. France was the only EU member that still had one until President Emmanuel Macron ended it in 2017. “My predecessor taxed the wealthiest and those who succeeded like never before. What happened? They left,” explained Macron. The wealthy grow their money by investing it. Some investments go to entrepreneurs that grow businesses and spur the economic growth needed for Canada’s recovery.

Last Paragraph:
Like most get-rich-quick schemes, the NDP’s fixation on taxing the “ultra-rich” is not only too good to be true; it could also have nasty side effects. A wealth tax is not a serious solution to fixing the fiscal mess. The government needs to control its spending instead.

[MikePal]

The government needs to control its spending instead

That would require a budget...HaHa....

[werner.reiche]

If there is no budget, you can't be accused of overspending it.

[fishfood]

How true .
96 % need to budget why not the government lol.

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[canadaman30]

If there is no budget, you can't be accused of overspending it.

As long as "the budget will balance itself", as Trudeau claims, they can spend all they want..😆

[huntervinni]

And spending is what they will do......
The answer is pretty simple, we all need to realize that we need less government not more.

[410001661]

We need to abolish the outdated tradition of the general coffers we are presently using. We would not run a company this way so why would we run a country this way? We need to run the country as a business and issue every dept a budget and have them held accountable for that budget (ex) healthcare, defense & education. This will force each cost center to make the best decisions for their dept based to a pre-defined performance level they need to maintain.

As a country we are bleeding out financially and we need to have a better idea where we are bleeding out and where we are not. Without doing this how can our government make educated decisions on how to get us on track moving forward?

[Gilroy]

And spending is what they will do......
The answer is pretty simple, we all need to realize that we need less government not more.

They tried the less government model in the Regan years ,de regulate Wall Street, make it easier to borrow and we had the bankers and Wall Street guys run amok and had an orgy for a few years and then collapse.

[Gilroy]

We need to abolish the outdated tradition of the general coffers we are presently using. We would not run a company this way so why would we run a country this way? We need to run the country as a business and issue every dept a budget and have them held accountable for that budget (ex) healthcare, defense & education. This will force each cost center to make the best decisions for their dept based to a pre-defined performance level they need to maintain.

As a country we are bleeding out financially and we need to have a better idea where we are bleeding out and where we are not. Without doing this how can our government make educated decisions on how to get us on track moving forward?

I agree with your post and I know I budget and have all my life.

But while they are at it we need the Provinces to also have their own budgets and stop asking the Federal Government for cash.

Now I know its all the TAXPAYERS money but I can see some area's where Province's should be calling the shots, like in the USA.

How about we start with the Firearms laws, the Federal Government hands the entire authority over to Provinces to decide on their own gun laws?

[JBen]

We need to abolish the outdated tradition of the general coffers we are presently using. We would not run a company this way so why would we run a country this way? We need to run the country as a business and issue every dept a budget and have them held accountable for that budget

My fiance has worked at a nameless University for years. They have budgets, and like most businesses, make a point of using it all. If you don't use them, you lose them. They all have 2 screens whether they need them or not, many have ergonomic stand up desk, top end chairs, and on and on and on and on. Then the various education boards cry poor every year.

But for the most part, what is any level of gov't but a business or even a household. With revenue and expenses.