Obscene amounts of money

[fratri]

It is corporate greed that lets companies shutdown.... But like many on here, need that cooperate greed to expand my portfolio, so I too am part of the problem.

[werner.reiche]

It is corporate greed that lets companies shutdown.... But like many on here, need that cooperate greed to expand my portfolio, so I too am part of the problem.

Not corporate greed. Shareholder greed.
Shareholders are what determines a co-operations action via the board of directors.
Up until recently, shareholder direction has always been to maximise growth and/or profit.
We are seeing a change that companies are being directed to be more climate friendly, socially responsible, hiring with diversity targets etc, and less concerned with the financial aspects of their business. Not sure how much this will catch on though as it makes for a poorer financial investment.

[line052]

Yup it is how communists operate vilify the rich - just like they did in Venezuela.

Those are your words not mine.
I see you're really hung up on the 1% - it's an easy target because you can get 99% of the people behind you.
But as I said earlier - its BS spewed by people who don't want to look at the real problem.
... and you've clearly stated twice your one of those people.

[MikePal]

Not corporate greed. Shareholder greed.
Shareholders are what determines a co-operations action via the board of directors.
Up until recently, shareholder direction has always been to maximise growth and/or profit.
We are seeing a change that companies are being directed to be more climate friendly, socially responsible, hiring with diversity targets etc, and less concerned with the financial aspects of their business. Not sure how much this will catch on though as it makes for a poorer financial investment.

You've actually hit it on the head ...Corporate greed is what encourages investing by Companies. They want to make money. Taxing the 1% to the hilt will only make them move their money elsewhere. Even the Village idiot knows that.

The problem is, instead of giving them tax breaks to keep their money and invest in companies that will make them money and stimulate our Economy, the dumb chit want to use taxpayers money to invest in companies that will NEVER make money (Wind Energy a good example)

He is so fixated on closing down Canada's energy sector and try to meet the Paris accord target that he will drive away private investments....because no one can make money under his Green Plan initiatives once the Government subsidies stop.

[JBen]

Obviously that was a comment directed at me.

Do I have it in for public service Unions? Yep.
1) Way too much political clout and interfence. When was the last time 20,000 or 50,000 "bankers" marched on QP and had all politicans quaking in their boots, afraid for their survival? Like never? When was the last time cheirf political officers raised all kinds of red flags about Bay street....never?

2) Despite their protestations, they don't care one iota what they do to other people. See history, see the state of Ontario's fiscal position. See LTCs....For all their crocodile tears today, where were they between 2000 and 2020. Not making noise about seniors sleeping in their shyte,...nope, too busy lining their own pockets.

3) The cost of public service, debt and deficits, the cost to just ordinary people that don't have it so good having to pay for it all.

4) The cost to the public, in terms of nowhere near enough PSWs, or Family Doctors, or people like Gilroy and I going to the US for cancer treatment....Or not enough COs...Gee I thought saving the environment was all the rage........

And unlike some I have no problems acknowledging that corporate greed/shareholder greed is also part of the problem. Or that Wall street too has it shares of shysters.
See the difference?

[MikePal]

No Mike, this goes way back, before the 15 years of Liberal spending.

It actually goes back to the 70's and Free Trade. I was in Kitchener then and watched a City touted as shining star of an Industrial based economy, decimated by companies that closed up and moved to Mexico for cheaper labour. The Canadian labour rates were already too high to make up the difference the Ontario Government gave companies to built here.

[JBen]

Werner.
on shareholder greed.

I started on Bay St in the mid 80s. Back then Mutual Funds were new, and few people knew what they were, let alone understood them. By the 90s I was in derivatives and things like the Nikkei Put Warrant. By the early 90s I was in the grand daddy of structured products, like swaps and more.

Point being, Mutual Funds were an early way for more people to invest in the markets. Pools of money most could only dream of. But allowed people to invest in "fractional shares". By the late 80s mutual funds were booming.

Growth in the SP 500 since the 60s.
https://www.bing.com/images/search?v...iew&ajaxhist=0

[Gilroy]

JBEN

As you know I am a member of OMERS I had no choice in that matter 40 years ago when I joined my job and honestly I paid zero attention to my pension for most all of my years. It was not until I got sick and knew I would need to go on pension I PAID ANY ATTENTION.

But the point I am making is I am aware that OMERS is in "the market" pushing for profits to fund my pension, but what would you have me do about it.

Do I give up my pension and give the taxpayer back the money that they contributed towards my wages for the past 40 years.

Does OMERS dissolve and give the 100 billion back to the people in the same hand putting 105,000 people out of work?

[JBen]

I know Gilroy.

In the past ( as in years ago), I would suggest ( supposition because I wasnt around) when pension plans were devised. I believe CPP started in the 1950s. I don't believe people back then foresaw the problems of today. Nor even that life expectancy post retirement would increase from 12 years (when CPP which itself is a DBP was introduced) to 25 years (today). let alone other aspects. What can I say, money managers and people that create various financial products are human, they screw up.

As for "pushing" for profits. Well to that I would say things along the lines of who pretends to care about the working class?
The hawks on Bay Street? Or the Unions that have caused so much damage.......

[Gilroy]

Taxing corporations - while it seems to be a victimless tax - doesn't help much.
You are actually taxing the investors in the corporations. Taxing investment? Does that look like a way to create new jobs?
When you tax a corporation you reduce the return to the investor - who may be a rich 1% person, but more than likely it is a pension fund (OMERS, OTPPB, CPPIB, or one of many others) or individuals like myself who does not have a government pension and relies entirely on my investments for my retirement.

What's lost on the "tax the corporations" crowd is that while corporations are legal entities - they don't really own their assets. They are owned by shareholders. Anything you do to tax corporations is actually a tax on the shareholders.

Going forwards there are a couple of ways to distribute the tax burden.
- increasing income tax rates
- introducing a wealth tax (a tax on the value of your home, your investments, and most significantly, pensions)

Neither of these is likely to go a forwards because they would adversely affect too many voters.

Here are ontario tax brackets. Why are people making under 44,700 being taxed at all? Take a look at those numbers. If a guy making 88k is being taxed 9.15 on his last dollar (marginal tax rate they call it), shouldn't a guy making 140k be taxed more than 11.16 (marginal tax rate)?
5.05% on the first $44,740 of taxable income, +
9.15% on the next $44,742, +
11.16% on the next $60,518, +
12.16% on the next $70,000, +
13.16 % on the amount over $220,000

OK W you are relying entirely on your investments to fund your retirement, I am already retired and could join you in funding your retirement by say investing in a mutual fund you are also in.

But guess what I am to afraid of the market to even think of investing.

So are thousands of Canadians who have money sitting in saving accounts and 1% GIC,s'

The money is there because they were burned by the 2009 collapse and they can NO LONGER AFFORD TO LOSE ANYMORE.

What would be your advice to all the pensioners frozen out of fear to keep money in savings accounts only.