2023 Federal Budget discussion

[riander5]

This quote is hidden because you are ignoring this member. Show Quote

Buckle up! More grants and job creation for green energy sectors and electricity.

https://financialpost.com/news/econo...al-budget-2023

Canada Growth Fund lets goooo

[suntan]

This quote is hidden because you are ignoring this member. Show Quote

To be fair, along side increasing interest rates for borrowing and saving, taxes are also an effective tool at tackling inflation. There is less money to be spent by consumers thus reducing demand. What should happen though is the increased taxes are used to provide relief in the form of social programs to help those that the increase taxes hurt. Wasteful spending however is counter productive as it doesn't reduce debt or requires printing money that ultimate contributes to inflation.

This is MMT bad fanfic.

You forget the part about how gov't takes the money and spends it. The worst part is that gov't spending is almost always very low productivity, so it just adds to inflation.

[pheoxs]

This quote is hidden because you are ignoring this member. Show Quote

This is MMT bad fanfic.

You forget the part about how gov't takes the money and spends it. The worst part is that gov't spending is almost always very low productivity, so it just adds to inflation.

More federal debt = more tax money spent on interest = less money in the economy. Inflation solved.

#RAISETHEDEBT #THELIBERALWAY

[msommers]

Can someone explain the Climate Incentive Payments, where does that money come from, why does it vary for each province etc. I don't understand the point of it.

[spike98]

This quote is hidden because you are ignoring this member. Show Quote

Aren't there a few tax increases that were triggered by inflation that just came into effect? I know the liquor tax was one of them which has all the small town folk just freaking out.

As mentioned, taxes can be ultimately triggered by inflation as they are a potential solution to the issue. Specifically with liquor or other "sin" taxes. Is its also an effective way to reduce the use of the product or service it taxes. Another example of a pigouvian tax is carbon tax. The theory is that the tax introduces negative externalities (ie producing less carbon) while raising funds to subsidize alternatives or support the individuals or business effected. As discussed, this what they government should do with the money raised but in our case, fucks it up.

This quote is hidden because you are ignoring this member. Show Quote

This is MMT bad fanfic.

You forget the part about how gov't takes the money and spends it. The worst part is that gov't spending is almost always very low productivity, so it just adds to inflation.

Actually I address that specifically, even in the text you quoted. The principals are sound, the execution is often screwed up. Especially by governments that love to spend in areas to buy support. Also, I would like to know specifically how low productivity contributes to inflation. Low productivity can be a symptom of inflation and increasing productivity can help ease inflation but its my understanding that low productivity doesn't drive inflation without a 3rd party influence.

[suntan]

This quote is hidden because you are ignoring this member. Show Quote

More federal debt = more tax money spent on interest = less money in the economy. Inflation solved.

#RAISETHEDEBT #THELIBERALWAY

This is actually how they think.

Problem is, more debt spooks market, Canada's credit rating lowered, Canada needs to up rates on bonds, causes inflation.

[Buster]

This quote is hidden because you are ignoring this member. Show Quote

its my understanding that low productivity doesn't drive inflation without a 3rd party influence.

What makes you say this? Inflation is a relative measure not an absolute.

[JRSC00LUDE]

This quote is hidden because you are ignoring this member. Show Quote

Can someone explain the Climate Incentive Payments, where does that money come from, why does it vary for each province etc. I don't understand the point of it.

What's not to understand? By paying more taxes you actually take MORE money home.

[pheoxs]

This quote is hidden because you are ignoring this member. Show Quote

Can someone explain the Climate Incentive Payments, where does that money come from, why does it vary for each province etc. I don't understand the point of it.

Some provinces use the federal rules, some provinces have their own carbon tax formula that's been accepted by the federal government. In theory the money in each province should go back to the province so a province that pollute more (Alberta's heavy industries for example) has a bigger pool to give back to consumers. Albertans also kind of get fucked because we rely a lot more on natural gas heating so each of us also pays more in tax.

So you pay more just so you get more back later

https://www.canada.ca/en/department-...r-2023-24.html

Quarterly amounts for 2023:
AB: 193
MB: 132
ON: 122
SK: 170
NL: 164
NS: 124
PEI: 120

[killramos]

This quote is hidden because you are ignoring this member. Show Quote

Can someone explain the Climate Incentive Payments, where does that money come from, why does it vary for each province etc. I don't understand the point of it.

The carbon tax is theoretically revenue neutral.

So every dollar paid into it gets paid back to citizens.

Contrary to popular belief carbon taxes do not contribute anything to help the environment.

If you use more energy than average it’s a net negative to you, if you use less energy than average you net money back.

[msommers]

Thanks guys.

[ExtraSlow]

So on average, the carbon tax does nothing to reduce production of carbon dioxide. Got it.

[killramos]

This quote is hidden because you are ignoring this member. Show Quote

So on average, the carbon tax does nothing to reduce production of carbon dioxide. Got it.

Depends if you believe the fallacy that the carbon tax is stopping people from using carbon emitting energy.

[ExtraSlow]

I believe that it is possible for taxes to influence behaviour. I don't think this has been set up to do that.

[zechs]

This quote is hidden because you are ignoring this member. Show Quote

Communism works, it just hasn't been implemented properly before.

Always neat to see people explain away bad results as an implementation problem and not a fundamental aspect of a theory.

[spike98]

This quote is hidden because you are ignoring this member. Show Quote

Always neat to see people explain away bad results as an implementation problem and not a fundamental aspect of a theory.

The best way to determine ones position is weak is to attack the person behind the opposition.

Get a grip man. Tell me where i am wrong instead of trying to say that a capitalist economy is also a communist economy.

[jutes]

Couple hundred bucks for groceries lol.

Liberals get my vote! /s

[ThePenIsMightier]

I spent $308 on groceries yesterday.
It fit in one cart without a problem...
With no meat....
At a fucking Wal-Mart!

[JRSC00LUDE]

You go to Walmart?

[bjstare]

This quote is hidden because you are ignoring this member. Show Quote

I spent $308 on groceries yesterday.
It fit in one cart without a problem...
With no meat....
At a fucking Wal-Mart!

I think we spend ~$100/week and ~$350/week at superstore and costco for us and are two little kids, but I don't actually keep track. I'm sure this is much more than we used to spend.

Edit: that’s with one takeout meal per week and one meal per week at one of our parents places. Maybe I need to start feeding my kids strip steaks instead of rib eyes.