Taxing Inflation

[ajl]

One shot burnt, Nov 3. If that don't work out start building your own wall.

Yes the world has one last hurrah. Please America don't let us down. President Trump may not be perfect, but he is all the world has left.

[burnt]

Private land ownership is also a principal instrument of accumulation and concentration of wealth and therefore contributes to social injustice…Social justice, urban renewal and development, the provision of decent dwellings and healthy conditions for the people can only be achieved if land is used in the interests of society as a whole. (p28)

If this is truly what is happening and what people believe. Then the useful idiot population that communism and dictators need to gain power, is already present.
The foundation, the cornerstone, of our entire society since the Westphalia conference, Magna Carta really, has been private property ownership.
Differentiating between types of properties opens the door for loss of same.
Can civilization improve itself without the reward or manipulation of private property?
The culture involved will have to look rather Chinese.
It's going to happen anyway.
But until then. Keep calling out the scam.

The best documentation of this reality you lay out is a book entitled, "The Birth of Plenty - How The Prosperity Of The Modern World Was Created." - William J. Bernstein.

W.J.B points out how the successful growth of the West was based on the Four Factors - 1) Property Rights, 2) Scientific rationalism, 3) Capital markets, and 4) Transport and communication.

The result of the Four Factors was nothing short of amazing - after 10 centuries of flatline growth of GDP per capita - nearly zero - wealth began to slowly creep upward until the 15th century when it began to rise, leading to nearly vertical climb in the 19th century to the present.

We are now at the zenith of growth in personal wealth and GPD. The world has NEVER known a time of greater opportunity and general well-being and wealth.

However, under the direction of the U.N., the first is being rapidly dissolved, the second negated by the replacement of science with corrupting ideology, the third by "unbacked" currency, and the fourth by the corruption of communication (fake news, deliberate misinformation) and unfair trade barriers and practices.

If Bernstein's theory is correct, the results mirror the methodology.

Pack your parachute?

We will see.

[jazz]

The left is going after capitalism in the US. Guess where the left is attacking in Canada? Alberta, the only real capitalist province there is. Maybe Sk a distant second.

Lets review, 100s of billions of investment and projects torpedoed in Trudeaus first term with bogus env regulations. Zero investment returned to the province. $350B just spent on pandemic, not a red cent devoted to our wealth creating industries. More investment given to Chinese companies than the entire west ever received. More politicians talking at WE events than ever gave a flying f about ag or oil or mining.

Its not an accident.

[AlbertaFarmer5]

Imagine where we would be if society aspired to bring the Less fortunate up to the level of the Better off, Instead of allowing jealousy and resentment to try to drag the achievers down to the level of the laziest members.

For some reason the Chucks of the world always seem to end up in positions of authority and enforcing the latter, Instead of providing opportunities for the former.

[AlbertaFarmer5]

Yes the world has one last hurrah. Please America don't let us down. President Trump may not be perfect, but he is all the world has left.

And what a sad state of affairs it is when our last best hope is this buffoon. I fully respect the direction he is trying to take, and the policies he is trying to implement, but imagine how much more acceptable it could have been with..., well,... almost anyone else as the leader. How did it come to this, that the fate of the free world is in his hands?

[jazz]

it could have been with..., well,... almost anyone else as the leader. How did it come to this, that the fate of the free world is in his hands?

That's the entire point AF, we need a dirty SOB in there to go toe to toe with these guys. The days of cute platitudes are over. If people want that, Trudeau is right there to whisper in your ear.

Imagine how you would act if you had to debate chuck all day every day. That has to be what its like for Trump to get attacked everyday like he has. I am actually surprised he has held up so well.

[AlbertaFarmer5]

That's the entire point AF, we need a dirty SOB in there to go toe to toe with these guys. The days of cute platitudes are over. If people want that, Trudeau is right there to whisper in your ear.

Imagine how you would act if you had to debate chuck all day every day. That has to be what its like for Trump to get attacked everyday like he has. I am actually surprised he has held up so well.

I get what you are saying completely. And he is likely one of the only people with skin thick enough to tolerate it, and pockets deep enough to get this far without being in the pay of special interest groups. But it would be so much easier to win the hearts and minds with almost anyone else.

[burnt]

EDITORIAL: Reject capital gains tax on home sales

https://torontosun.com/opinion/editorials/editorial-reject-capital-gains-tax-on-home-sales?utm_medium=Social&utm_source=Twitter#Echobox =1595112097 https://torontosun.com/opinion/editorials/editorial-reject-capital-gains-tax-on-home-sales?utm_medium=Social&utm_source=Twitter#Echobox =1595112097

From the piece:

"...why is the Canada Mortgage and Housing Corp. — a federal Crown agency — spending $250,000 to study a capital gains tax on residential homes?"

“The objective is to identify solutions that could level the playing field between renters and owners,”

“We need to make it so that no Canadian relies on gains in housing wealth to feel secure..."

Taxing C.G on homes would be highly unpalatable.

Farmers are the ones with the laser dot on them.

[farmaholic]

The capital gains tax already exists on farmland. Question is will the exemption amount be decreased and/or the tax rate increased. Doubt they would tax any gain that hasn't actually been realized by the sale of the asset because what would happen if and when land prices fall and your taxed on non existent or lost value.

Maybe tax the investors who buy land as an investment or somewhere to park excess money and have no intentions on actually farming it or try to make a living with it.

[bucket]

The capital gains tax already exists on farmland. Question is will the exemption amount be decreased and/or the tax rate increased. Doubt they would tax any gain that hasn't actually been realized by the sale of the asset because what would happen if and when land prices fall and your taxed on non existent or lost value.

Maybe tax the investors who buy land as an investment or somewhere to park excess money and have no intentions on actually farming it or try to make a living with it.

If you buy land at a high and sell it in a downturn....I think you can claim the capital loss...so that can be a win for an investor while he collects the rent for a few years and then a loss against other income.

[ajl]

The solution is obvious: Stop the money printing and then there is no inflation. Canuckistan is the inflation nation and so we are so used to it that we think it is normal. Reality is that it is manufactured by central bank money printing. What is needed is real economic growth and not speculation on government stupidity as the foundation of our economy. Trouble is we are so far down that road that coming back will be so hard.

[bucket]

The solution is obvious: Stop the money printing and then there is no inflation. Canuckistan is the inflation nation and so we are so used to it that we think it is normal. Reality is that it is manufactured by central bank money printing. What is needed is real economic growth and not speculation on government stupidity as the foundation of our economy. Trouble is we are so far down that road that coming back will be so hard.

It will be harder when they realize they are supporting the wrong people....giving people money to watch Netflix isn't a wealth creation strategy....while taxing people that are working to help the economy is a recipe the trust fund kids don't understand and never will...

[furrowtickler]

It will be harder when they realize they are supporting the wrong people....giving people money to watch Netflix isn't a wealth creation strategy....while taxing people that are working to help the economy is a recipe the trust fund kids don't understand and never will...

Very good point , this government is simply trying to buy votes in the midst of scandal after scandal .
It’s pathetic to watch the average Canadian so oblivious , happy to get handouts for doing SFA
Our grandkids will be ashamed of what’s going on and be lucky not to be taxed at 60/70 % of their income .

[farmaholic]

There's no doubt governments will be looking for ways to generate revenue to pay for the spending sprees.

I heard a Professor pundit state that the current Canadian debt to GDP ratio is lower than at the end of WW2.

To me the difference doesn't lie with Canada's ability to pay it off but the people's productivity and willingness to generate wealth ....a real taxable "value"

Edit in: or the Government's ability to foster an environment to make it possible for Industry and people to do so.

Edit in II: more parasites than hosts never ends well, first for the hosts then to the oblivious parasites themselves.

[jazz]

I heard a Professor pundit state that the current Canadian debt to GDP ratio is lower than at the end of WW2

Leave it to some ivory tower professor egghead to make some uninformed comment about the economy.

WW2 the entire country had converted its economic output to supply the war effort. After that was over, those industries were converted back to productive assets which then fed the baby boom that ensued. That was a heyday for Canada. Millions of young people re-engaging back to their homes and integrating into the local economies, getting married, having kids. Canadas resources feeding other countries doing the same thing and rebuilding efforts after the war. Some of our biggest infrastructure projects were done in that post WW period.

I don't see anything that matches that now. I see a broke aging fearful socialist cultist country emerging from this wreckage.

The US is going to announce a several trillion dollar infrastructure project to get their country working again. Where is skippys economic plan except more shady vote buying in Toronto.