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Thread: July 8, 2020 Federal Fiscal Update

  1. #41
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    If its the young ones that end up surviving, they should be the ones paying, because they are the only ones left to pay. Logic.
    Combustion engine cars - Bwahaha.

  2. #42
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    The biggest problem is I genuinely donít think that the majority of Canadians even care about what the deficit or debt level is. Until you have a debt crisis or rampant inflation, I doubt anyone even bats an eyelid. Sunny ways ...

  3. #43
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    Quote Originally Posted by dimi View Post
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    The biggest problem is I genuinely donít think that the majority of Canadians even care about what the deficit or debt level is. Until you have a debt crisis or rampant inflation, I doubt anyone even bats an eyelid. Sunny ways ...
    I don't think the majority of Canadians care about what their personal debt level is, let alone the debt they have zero control over.

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    Quote Originally Posted by Tik-Tok View Post
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    I don't think the majority of Canadians care about what their personal debt level is, let alone the debt they have zero control over.
    That's the winning attitude. Debt is what a bank has. People have stuff.

    Quote Originally Posted by The_Rural_Juror View Post
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    The solution is to start making beer. Peak oil by 2030. Peak beer by never. Pivot!

  5. #45
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    Well, get used to it. For example, the coming budget is likely to increase the capital gains inclusion rate (to 75%, if the NDP gets its way), which means you’d be wise to lock in some gains before that happens. We might well see a new tax bracket created to further ensnare and drive off the 1%ers. Self-employed who pay themselves exclusively through dividend income, rather than salary, might come to regret that choice. Or there could be a lifetime cap placed on TFSA contributions or (more draconian) on accumulated tax-free balances. The feds could simply decide – since we don’t have enough rich people – to shift more tax from income to consumption, and bring the sales tax back up to pre-Harper levels.
    https://www.greaterfool.ca/2020/07/08/neck-deep/

    *sigh*
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  6. #46
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    Quote Originally Posted by finboy View Post
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    Don't get too worked up over one random internet dude's speculation. Blogs like this throw stuff at the wall to see what sticks, then proclaim themselves oracles if anything is even close.

  7. #47
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    Quote Originally Posted by JustinL View Post
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    Don't get too worked up over one random internet dude's speculation. Blogs like this throw stuff at the wall to see what sticks, then proclaim themselves oracles if anything is even close.
    He was a conservative mp who helped create the Tfsa and consulted with the liberals under Ignatieff
    sig deleted by moderator, because they are useless

  8. #48
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    Quote Originally Posted by dimi View Post
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    The biggest problem is I genuinely don’t think that the majority of Canadians even care about what the deficit or debt level is. Until you have a debt crisis or rampant inflation, I doubt anyone even bats an eyelid. Sunny ways ...
    We have become to desensitized to the massive numbers being thrown around by the media with no concept of scale and real world impact.

    Government: "We have pledge $8billion for XXXXXXXXXX"
    Canadians: "Neat!"

    When you read stats like the average Canadian spending 180% of the money they earn, its no wonder we are in the situation we are today. We are in a "look what I have" society and most people are unable to support it with their income.
    Last edited by vengie; 07-09-2020 at 04:15 PM.

  9. #49
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    Quote Originally Posted by killramos View Post
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    The real concern is no one seems to care if we do go that way
    I care but I can only take care of my own house lol Good luck everyone else!
    max_boost is a name known to all
    Quote Originally Posted by max_boost View Post
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    Or the max boost portfolio lol xqq/hmmj/arkk/xgro/strathmore/Chinese food lol
    Quote Originally Posted by The_Rural_Juror View Post
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    This is diversification in a nut shell. Equity, Fixed Income, Tech, Stoner, Real Estate, and Steady Income.

  10. #50
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    Quote Originally Posted by finboy View Post
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    He was a conservative mp who helped create the Tfsa and consulted with the liberals under Ignatieff
    He still is going to be wrong about most of those predictions like many of the other ones in his previous blog entries. It gets clicks and gets people worked up, but I don't believe his crystal ball is any more clear than mine.

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    Quote Originally Posted by finboy View Post
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    The 75% cap gain inclusion has been rumored for at least a couple of years in a row now. But there is a play there that could be done.

    - Announce an increase to the cap gain inclusions to 75% starting Jan 1, 2021
    - Everyone sells their winners (2020), and has to pay taxes on it because they don't want to pay capital gains tax at 75%
    - Government gets their money by April 30, 2021
    - Budget 2021 is released in May 2021 saying the cap gain inclusion rate is going to drop back down to 50% starting Jan 1, 2022

    Profit!

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    If you spent 180% of what you earned, and then kick the bucket... Isn't that a win?
    Combustion engine cars - Bwahaha.

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    Quote Originally Posted by ZenOps View Post
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    If you spent 180% of what you earned, and then kick the bucket... Isn't that a win?
    Exactly. Die broke is old fashioned. Die heavily indebted!

    Quote Originally Posted by The_Rural_Juror View Post
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    The solution is to start making beer. Peak oil by 2030. Peak beer by never. Pivot!

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    Ethics scandals and deficits are not news worthy it seems. That said, why is Scheer even around still?
    https://www.facebook.com/CTVNews/vid...type=2&theater

  15. #55
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    Millennials are definitely in the front running for most screwed generation ever. But the future may still hold a California earthquake for Gen Z. I got sympathy, but don't be surprised if there is a 200% debt to GDP to contend with, every generation for themselves!
    Combustion engine cars - Bwahaha.

  16. #56
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    Quote Originally Posted by ZenOps View Post
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    Millennials are definitely in the front running for most screwed generation ever. But the future may still hold a California earthquake for Gen Z. I got sympathy, but don't be surprised if there is a 200% debt to GDP to contend with, every generation for themselves!
    If it get's too big we'll just eat the bankers

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    Quote Originally Posted by phreezee View Post
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    Ethics scandals and deficits are not news worthy it seems. That said, why is Scheer even around still?
    https://www.facebook.com/CTVNews/vid...type=2&theater
    Scheer not wearing a mask is not news. It's media bullshit. People are human and fuck things up. I'm giving the guy the benefit of the doubt.

  18. #58
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    Quote Originally Posted by dubhead View Post
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    If it get's too big we'll just eat the bankers
    Yup, eventually millennials will be making the laws - so they can decide how to move forward.
    Combustion engine cars - Bwahaha.

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