Canada in 2005?

[Ferocious]

I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

 

[3chordcharlie]

Originally posted by: Ferocious
I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

All of that is true. Some of it is due to rising oil prices; the TSX growth was definitely lead by energy stocks.

We've been running a surplus for quite a while; this year will probably be the smallest surplus in 5 years.

 

[Stunt]

1) The dollar is going up (mostly from energy and commodities being at 25 year highs), our manufacturing is hurting due to taxes being some of the worst in the G8, can't rely on the dollar anymore as we have during the Liberal's term.
2) The surplus is largely from overtaxation and tax revenues from the selling of energy and commodities.
3) The exchange is 30% weighted towards oil and gas and it has had a run of over 40% this year alone. That's not even considering the trickle down into the economy for all those related to oil and gas.

But I agree, its been a good year, I was able to get an amazing job, I doubled my investments through oil plays and we are now in a position to lower taxes to levels the rest of the world enjoys and fix some of what the Liberals have broken in their 12 years in power.

 

[RichardE]

Originally posted by: Ferocious
I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

Yep, thanks to sound financial management by our current party in power the Liberals. Regretfully this will all change when the conservatives come to power.

 

[Stunt]

Originally posted by: RichardE
Yep, thanks to sound financial management by our current party in power the Liberals. Regretfully this will all change when the conservatives come to power.

Our surplus has been on a steady decline over the last five years ($20B to $2B)...in a time where our GDP has grown $700B to $1050B (50% growth). In that time, taxes have not been lowered, we have little to show for our social programs (people are still complaining about everything...look at the NDP).

Whatever the Liberals are doing, it's not working. Time for the Conservatives to try their ideas. Bringing our tax code in line with the rest of the world is a good start.

With a resource driven economy, strong foreign investment, commodities at 25 year highs, a strong dollar, we should be doing far better than we are doing right now.

Edit: changed second word from deficit to surplus

 

[RichardE]

Originally posted by: Stunt

Originally posted by: RichardE
Yep, thanks to sound financial management by our current party in power the Liberals. Regretfully this will all change when the conservatives come to power.

Our deficit has been on a steady decline over the last five years ($20B to $2B)...in a time where our GDP has grown $700B to $1050B (50% growth). In that time, taxes have not been lowered, we have little to show for our social programs (people are still complaining about everything...look at the NDP).

Whatever the Liberals are doing, it's not working. Time for the Conservatives to try their ideas. Bringing our tax code in line with the rest of the world is a good start.

With a resource driven economy, strong foreign investment, commodities at 25 year highs, a strong dollar, we should be doing far better than we are doing right now.

People always complain about everything as well, You cannot have a GDP increase of that much without your administration doing something right.

 

[Stunt]

Originally posted by: RichardE
People always complain about everything as well, You cannot have a GDP increase of that much without your administration doing something right.

Having commodity prices at 25 year highs?

It's like an oil company these days not making money. As long as you have the resource you can't screw up!

 

[arsbanned]

Originally posted by: Stunt

Originally posted by: RichardE
Yep, thanks to sound financial management by our current party in power the Liberals. Regretfully this will all change when the conservatives come to power.

Our deficit has been on a steady decline over the last five years ($20B to $2B)...in a time where our GDP has grown $700B to $1050B (50% growth). In that time, taxes have not been lowered, we have little to show for our social programs (people are still complaining about everything...look at the NDP).

Whatever the Liberals are doing, it's not working. Time for the Conservatives to try their ideas. Bringing our tax code in line with the rest of the world is a good start.

With a resource driven economy, strong foreign investment, commodities at 25 year highs, a strong dollar, we should be doing far better than we are doing right now.

You just said, "we've been running a surplus for 5 years..." and then say you're voting to oust the government responsible for it. The Liberals have overseen a consistent reduction in the deficit yet "whatever (they're) doing, it's not working...." I'm confused.

 

[Stunt]

Sorry, I meant to say steady decline in the surplus...
And yes I will be voting against the party who was in power during these surpluses.

 

[Dissipate]

Originally posted by: 3chordcharlie

Originally posted by: Ferocious
I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

All of that is true. Some of it is due to rising oil prices; the TSX growth was definitely lead by energy stocks.

We've been running a surplus for quite a while; this year will probably be the smallest surplus in 5 years.

It is ashamed Canada is running a surplus. Mass franchise democracies are always supposed to end in bankruptcy. I'm hoping that the flagrant spending going on here in the U.S. will lead to the eventual bankruptcy and collapse of the U.S. government, providing a ripe opportunity for a second American revolution.

 

[3chordcharlie]

Originally posted by: Dissipate

Originally posted by: 3chordcharlie

Originally posted by: Ferocious
I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

All of that is true. Some of it is due to rising oil prices; the TSX growth was definitely lead by energy stocks.

We've been running a surplus for quite a while; this year will probably be the smallest surplus in 5 years.

It is ashamed Canada is running a surplus. Mass franchise democracies are always supposed to end in bankruptcy. I'm hoping that the flagrant spending going on here in the U.S. will lead to the eventual bankruptcy and collapse of the U.S. government, providing a ripe opportunity for a second American revolution.

Well if you belive Stunt, Canada will end in bankruptcy because our crippling taxes have made us the only G8 nation to have a booming economy at the moment. (I'm well aware that a lot of this is an energy-price windfall).

Why would you want an 'American' revolution when part of the root of what you perceive as the problem of government is mired knee-deep in patriotism?

 

[RichardE]

Originally posted by: Dissipate

Originally posted by: 3chordcharlie

Originally posted by: Ferocious
I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

All of that is true. Some of it is due to rising oil prices; the TSX growth was definitely lead by energy stocks.

We've been running a surplus for quite a while; this year will probably be the smallest surplus in 5 years.

It is ashamed Canada is running a surplus. Mass franchise democracies are always supposed to end in bankruptcy. I'm hoping that the flagrant spending going on here in the U.S. will lead to the eventual bankruptcy and collapse of the U.S. government, providing a ripe opportunity for a second American revolution.

Canada is a social democracy, with the majority of its money being spent on health care instead of military.

 

[Stunt]

3chord,
Canada's economy will not be crippled with higher taxes, just so long as cyclical commodity prices remain high. If commodity prices drop, our weakened manufacturing sector will be exposed and our economy will seem severly crippled.

Along with the high commodity prices, we will see a shift of wealth from the east to the west, we have already seen it. 8-15% unemployment in the east, 3-5% unemployment in the west.

Our currency and economy have too many eggs in one basket and we need to use our wealth of resources to drive down taxes.

 

[Dissipate]

Originally posted by: 3chordcharlie

Originally posted by: Dissipate

Originally posted by: 3chordcharlie

Originally posted by: Ferocious
I heard this on the radio:

1) The Canadian dollar has strengthened against the US dollar.
2) Canada is a running a budget surplus.
3) The Toronto Stock Exchange up about 20% while the S&P was up about 4%.

Interesting. What's going on up there guys? I know you aren't at war or anything.

All of that is true. Some of it is due to rising oil prices; the TSX growth was definitely lead by energy stocks.

We've been running a surplus for quite a while; this year will probably be the smallest surplus in 5 years.

It is ashamed Canada is running a surplus. Mass franchise democracies are always supposed to end in bankruptcy. I'm hoping that the flagrant spending going on here in the U.S. will lead to the eventual bankruptcy and collapse of the U.S. government, providing a ripe opportunity for a second American revolution.

Well if you belive Stunt, Canada will end in bankruptcy because our crippling taxes have made us the only G8 nation to have a booming economy at the moment. (I'm well aware that a lot of this is an energy-price windfall).

Why would you want an 'American' revolution when part of the root of what you perceive as the problem of government is mired knee-deep in patriotism?

I want a revolution because I think it could at least temporarily set back the growth of the state. The first American revolution certainly had this effect as the colonies shed themselves of British rule and all the taxes that went with it.

 

[3chordcharlie]

Originally posted by: Stunt
3chord,
Canada's economy will not be crippled with higher taxes, just so long as cyclical commodity prices remain high. If commodity prices drop, our weakened manufacturing sector will be exposed and our economy will seem severly crippled.

Along with the high commodity prices, we will see a shift of wealth from the east to the west, we have already seen it. 8-15% unemployment in the east, 3-5% unemployment in the west.

Our currency and economy have too many eggs in one basket and we need to use our wealth of resources to drive down taxes.

You can't use windfalls to pay operating expenses. (Well, you can, but only if you create some sort of endowment). I like tax cuts, and I think we will see some, but I would rather see current tax windfalls from energy prices used to pay off debt than to facilitate larger, and in all probability temporary tax cuts.

 

[Dissipate]

Originally posted by: 3chordcharlie

Originally posted by: Stunt
3chord,
Canada's economy will not be crippled with higher taxes, just so long as cyclical commodity prices remain high. If commodity prices drop, our weakened manufacturing sector will be exposed and our economy will seem severly crippled.

Along with the high commodity prices, we will see a shift of wealth from the east to the west, we have already seen it. 8-15% unemployment in the east, 3-5% unemployment in the west.

Our currency and economy have too many eggs in one basket and we need to use our wealth of resources to drive down taxes.

You can't use windfalls to pay operating expenses. (Well, you can, but only if you create some sort of endowment). I like tax cuts, and I think we will see some, but I would rather see current tax windfalls from energy prices used to pay off debt than to facilitate larger, and in all probability temporary tax cuts.

What kind of tax cuts do you want to see? One half of one percent? :roll:

 

[Stunt]

Originally posted by: RichardE
Canada is a social democracy, with the majority of its money being spent on health care instead of military.

Canada spends money on many different things, majority not being healthcare. And when you say "instead of military"what were you refering to? Surely not the US where most of their money is spent on healthcare as well.

2003 budget:
Social Security: 17.5%
National Defense: 7.8%
Income Security: 13.1%
Healthcare: 17.7%
Interest: 10.4%
Education: 13.9%
Transportation: 4.1%
Other: 15.6%

Income Security is your welfare i believe and i don't even want to know what 54B (slightly less than our whole healthcare budget) includes. Maybe that's the funds that eventually make it to Liberal friends

 

[3chordcharlie]

Originally posted by: Dissipate

Originally posted by: 3chordcharlie

Originally posted by: Stunt
3chord,
Canada's economy will not be crippled with higher taxes, just so long as cyclical commodity prices remain high. If commodity prices drop, our weakened manufacturing sector will be exposed and our economy will seem severly crippled.

Along with the high commodity prices, we will see a shift of wealth from the east to the west, we have already seen it. 8-15% unemployment in the east, 3-5% unemployment in the west.

Our currency and economy have too many eggs in one basket and we need to use our wealth of resources to drive down taxes.

You can't use windfalls to pay operating expenses. (Well, you can, but only if you create some sort of endowment). I like tax cuts, and I think we will see some, but I would rather see current tax windfalls from energy prices used to pay off debt than to facilitate larger, and in all probability temporary tax cuts.

What kind of tax cuts do you want to see? One half of one percent? :roll:

Well I would start with roughly the amount we spend servicing our debt, enacted over the course of paying it off (Alberta as a privince has just retired their debt on the strength of oil-price windfalls). I would also severly revamp the nation's social safety net so it stops propping up unprofitable industries. For example, if the fishing season is 12 weeks long or whatever, and 'worth doing' then everyone on the East Coast can fish for 12 weeks a year, and then they can go back to their day jobs (and hey, if they make enough fishing to take the other 40 weeks as vacation, then good for them).

I would also like to phase out farming subsidies that don't really help farmers, hide the real cost of food, and decimate agriculture in third world countries. Unfortunately, in order to create any real benefit, all (or most) western nations would have to follow suit. Certainly this would be a money-saver. As for crop-failure relief, which tends to run a few billion a year it seems, I thought that was the original reason that State-Farm was created. I'm all for disaster relief, but it may be time to take a good look at the definition of 'disaster'.

Finally, I would remove the power of the college of physicians to limit medical school enrollment, and even if it means training doctors for the entire western world I would break up the monopoly on medical expertise. (Brain drain is easy enough to deal with; if you don't stay in the country as a doctor for 5 years, or some other arbitrary number, you get to repay all educational subsidies). I predict this would drop GP wages to the low six-figures, and specialist wages to the 200K range, severely reducing the cost of health care.

These steps would allow some pretty significant tax cuts.

 

[Stunt]

I agree with all those points 3chord...
Although eliminating the debt of many generations on the back of just one is not all that fair. Long term debt reduction is important, but you are taking away from this generation's livelihood (overtaxation).

 

[RichardE]

Originally posted by: Stunt

Originally posted by: RichardE
Canada is a social democracy, with the majority of its money being spent on health care instead of military.

Canada spends money on many different things, majority not being healthcare. And when you say "instead of military"what were you refering to? Surely not the US where most of their money is spent on healthcare as well.

2003 budget:
Social Security: 17.5%
National Defense: 7.8%
Income Security: 13.1%
Healthcare: 17.7%
Interest: 10.4%
Education: 13.9%
Transportation: 4.1%
Other: 15.6%

Income Security is your welfare i believe and i don't even want to know what 54B (slightly less than our whole healthcare budget) includes. Maybe that's the funds that eventually make it to Liberal friends

*drives his new car down the highway*

 

[Stunt]

Originally posted by: RichardE
*drives his new card down the highway*

Huh?

 

[3chordcharlie]

Originally posted by: Stunt
I agree with all those points 3chord...
Although eliminating the debt of many generations on the back of just one is not all that fair. Long term debt reduction is important, but you are taking away from this generation's livelihood (overtaxation).

Ralph Klein did it in a decade - you probably couldn't do that with the federal debt, but you could certainly start a repayment plan (which we have done, but has been sort of put on hold the last couple of years).

I suppose there's an argument to be made that most of that deficit spending benefitted the current 60-to-not-dead-yet crowd, and a massive death tax would therefore right things. I don't think that's the best way to do it though.

 

[Dissipate]

Originally posted by: 3chordcharlie

Originally posted by: Dissipate

Originally posted by: 3chordcharlie

Originally posted by: Stunt
3chord,
Canada's economy will not be crippled with higher taxes, just so long as cyclical commodity prices remain high. If commodity prices drop, our weakened manufacturing sector will be exposed and our economy will seem severly crippled.

Along with the high commodity prices, we will see a shift of wealth from the east to the west, we have already seen it. 8-15% unemployment in the east, 3-5% unemployment in the west.

Our currency and economy have too many eggs in one basket and we need to use our wealth of resources to drive down taxes.

You can't use windfalls to pay operating expenses. (Well, you can, but only if you create some sort of endowment). I like tax cuts, and I think we will see some, but I would rather see current tax windfalls from energy prices used to pay off debt than to facilitate larger, and in all probability temporary tax cuts.

What kind of tax cuts do you want to see? One half of one percent? :roll:

Well I would start with roughly the amount we spend servicing our debt, enacted over the course of paying it off (Alberta as a privince has just retired their debt on the strength of oil-price windfalls). I would also severly revamp the nation's social safety net so it stops propping up unprofitable industries. For example, if the fishing season is 12 weeks long or whatever, and 'worth doing' then everyone on the East Coast can fish for 12 weeks a year, and then they can go back to their day jobs (and hey, if they make enough fishing to take the other 40 weeks as vacation, then good for them).

I would also like to phase out farming subsidies that don't really help farmers, hide the real cost of food, and decimate agriculture in third world countries. Unfortunately, in order to create any real benefit, all (or most) western nations would have to follow suit. Certainly this would be a money-saver. As for crop-failure relief, which tends to run a few billion a year it seems, I thought that was the original reason that State-Farm was created. I'm all for disaster relief, but it may be time to take a good look at the definition of 'disaster'.

Finally, I would remove the power of the college of physicians to limit medical school enrollment, and even if it means training doctors for the entire western world I would break up the monopoly on medical expertise. (Brain drain is easy enough to deal with; if you don't stay in the country as a doctor for 5 years, or some other arbitrary number, you get to repay all educational subsidies). I predict this would drop GP wages to the low six-figures, and specialist wages to the 200K range, severely reducing the cost of health care.

These steps would allow some pretty significant tax cuts.

I can't say I disagree with any of that. But I can't understand your stance on eliminating the doctor cartel. Was it not you who claimed that healthcare has all these market failures and requires massive government intervention?

To me it would be more likely for you to claim that eliminating the cartel would have people wind up with incompentent doctors leading to a number of deaths.

 

[Stunt]

Why was our repayment plan been put on hold?

Perhaps the Chretiens drunken legacy spending? Martin's dealings with the wacky NDP? Two elections with Liberals bribing Canadians with their own money?

 

[RichardE]

Originally posted by: Stunt

Originally posted by: RichardE
*drives his new card down the highway*

Huh?

Sorry..spelling errors Fixed