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Thread: July 8, 2020 Federal Fiscal Update

  1. #21
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    Quote Originally Posted by ExtraSlow View Post
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    I don't know who's most fucked, Feds, provinces, or the cities, but in the end, it's the taxpayers. Truly fucked. Better get used to a much higher percentage of your earnings going to all the governments, and keeping very little for your own needs.
    Increasing tax rates doesn't increase tax receipts that much.

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    Quote Originally Posted by ExtraSlow View Post
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    I don't know who's most fucked, Feds, provinces, or the cities, but in the end, it's the taxpayers. Truly fucked. Better get used to a much higher percentage of your earnings going to all the governments, and keeping very little for your own needs.
    Taxpayers are always fucked.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    How much extra will we pay a year in debt servicing? Is it a significant part of the budget? My assumption is it won't make a drastic change.. not like any government plans to pay down debt
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    Quote Originally Posted by Buster View Post
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    Increasing tax rates doesn't increase tax receipts that much.
    True, nothing a government does really increases government revenue. External forces are larger factors.
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    Quote Originally Posted by Masked Bandit View Post
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    I hadn't thought of that angle but wouldn't the Americans have the same problem at the state vs. federal level? I truly don't know anything about that kind of finance.

    Probably not to the same extent, especially since were going to have an additional burden on the provincial level from the healthcare sector (the initial federal money won't cover it all), while a lot of that is picked up by the private sector in the states. Then there's our provincial debt loads. The debt to GDP for all US states is between 5-22%. Only Alberta, BC, and Saskatchewan would fall in that range, the rest of Canada has debt to GDP ratios of 34 to 50%.

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    Quote Originally Posted by Buster View Post
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    Exhibit A: the stock market going bananas despite the world falling apart.
    It's just the game. I don't make the rules obvs but I'll play along.
    max_boost is a name known to all

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    Quote Originally Posted by Buster View Post
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    Increasing tax rates doesn't increase tax receipts that much.
    Maxis taught me that.
    ---

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    Quote Originally Posted by kenny View Post
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    Maxis taught me that.
    they will still try

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    The world is just going to go Zimbabwe.

    Governments of the world will just print cash, devalue their currencies, monetize debt, and say FU to retirees and savers. After all, debt creates economic growth so good on those who leverage themselves up to the tits and F-those who try to responsibly save and rely on the pensions provided to them by previous governments they voted for to fund their retirement. Public debt and generous handouts will fund their retirement. Who cares. Why bother working or saving at all?

    People are so busy worrying about pulling down historic statues and taking offence at a 140 character tweet that they have no idea how money, taxation, economics, or debt works.

    Fuck this. I'm buying a farm somewhere sunny.

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    I sort of agree. The world is not setting up to reward savers or those who accumulate wealth. If you are anything approaching middle-class, barriers are increasing, and benefit decreasing to moving upwards any reasonable amount.

    It kind of flies in the face of conventional personal finance thinking of the last several decades, but maybe spending every penny makes more sense? I don't know.
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    Quote Originally Posted by ExtraSlow View Post
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    It kind of flies in the face of conventional personal finance thinking of the last several decades, but maybe spending every penny makes more sense? I don't know.
    I sure as hell wouldn't be owning bonds based on a % of my age. Although I guess if yields go negative in more countries the "risk free" rate of 1% may be desirable to those funds who are stuck in pre-Zim times.

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    Quote Originally Posted by davidI View Post
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    Fuck this. I'm buying a farm somewhere sunny.
    Just be careful, you don't want to be a land owner when communist revolution comes.

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    Quote Originally Posted by davidI View Post
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    The world is just going to go Zimbabwe.

    Governments of the world will just print cash, devalue their currencies, monetize debt, and say FU to retirees and savers. After all, debt creates economic growth so good on those who leverage themselves up to the tits and F-those who try to responsibly save and rely on the pensions provided to them by previous governments they voted for to fund their retirement. Public debt and generous handouts will fund their retirement. Who cares. Why bother working or saving at all?
    THIS is becoming a genuine concern of mine.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    Quote Originally Posted by Masked Bandit View Post
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    THIS is becoming a genuine concern of mine.
    The real concern is no one seems to care if we do go that way
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    $340B spent, 8500ish people died so that's like $40million a person. Job well done.

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    Quote Originally Posted by kenny View Post
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    Maxis taught me that.

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    Quote Originally Posted by jutes View Post
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    $340B spent, 8500ish people died so that's like $40million a person. Job well done.
    I don’t think I could come up with a worse way to describe the situation. Bravo on that.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by D'z Nutz View Post
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    Nothing a bulldozer couldn't fix.
    ---

  19. #39
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    I feel like this is relevant to this thread: https://www.ctvnews.ca/mobile/politi...orts-1.5015665

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    Quote Originally Posted by kenny View Post
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    Nothing a bulldozer couldn't fix.
    Even if it can't, for those demolition prices you can afford to make as many mistakes you want.

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