UBI, the plan way out of govt debt

[Austrian Economics]

Well it doesn't take a rocket scientist to figure out Justine blew our wad and has no intention of paying it back, "it'll balance itself". The old switcheroo is coming, he'll take pensions and give UBI. It's the same, but different. He'll take our capital in exchange for future debt. Im quite sure purchasing power will only get stronger..... sarcasm. If pensions get seized, the next step is assets. How much longer are we going to let this go on for? They'll blame a virus, not their regulation.

Once the capital has been destroyed, there will be no means for anyone to pay that "future debt". The Canadian dollar will go to zero value. Asset seizure will come in the form of unrealized capital gains taxes. Since most people have their head in the sand on these issues, I'm not seeing light at the end of this tunnel.

[Austrian Economics]

Bill 273 is a private members bill,not Bbill introduced by government. Private members bills rarely are introduced into law.

True enough. It's still worrisome that this kind of bill gets introduced at all.

[jazz]

Once the capital has been destroyed, there will be no means for anyone to pay that "future debt". The Canadian dollar will go to zero value. Asset seizure will come in the form of unrealized capital gains taxes. Since most people have their head in the sand on these issues, I'm not seeing light at the end of this tunnel.

We should in part be grateful for a Biden win. Now we can see the agenda being played out there first and adjust accordingly.

We need to be on the alert for a trio of developments to determine where this country will ultimately head. First is the SC ruling on the carbon tax. That will ultimately decide how much power our govt has to squeeze the west.

Secondly, the Ab referendum this fall. If Ab doesnt step up and try to put an end to this nonsense it will never end and we will be marginalized in our own country forever. That may have already happened. Eventually immigration will cause Toronto to have its ridings redrawn and 10 more seats will go in there.

And lastly a Trudeau majority. He will need that to ram the changes he wants through.

After all that, I say all bets are off in this country and it would be time to a hard protect on assets by booking those CGs into the corporation.

[checking]

Some peoples tolerance of taxation begin with the first 5 cents.

I don't mind paying the prescribed percent, as long as I'm still making my cut.

I trust government to know when their limit is too much, as that will show up in the underground economy numbers.

They know the underground economy is out of hand when too many have cowzilla's number on speed dial for barter purposes!

[chuckChuck]

"An analysis by the Parliamentary Budget Officer found that a federal basic income, modelled after the parameters of Ontario’s scrapped pilot, would cost $76 billion in its first year, then level off to $44 billion annually thereafter."

So we still need social programs for those who lose their jobs and for those who are low skill, disabled, sick and unemployable. Oil workers in Alberta have been relying on CERB and then EI to get by. Low income seniors and single parents also need support. So rather than having a patchwork of programs to make sure many people don't perpetually live in poverty what are the most efficient and effective options?

[blackpowder]

Either way you look at it the slide is inevitable.
Started my exit plan last year.

[chuckChuck]

The Trump and Republican plan was tax cuts for the rich and corporations and transfer the tax load to the rest. And at the same time massive fiscal spending and deficits. Almost as much as Trudeaus per capita.

Or Alberta's 8 billion dollar deficit based on relatively low one time volatile resource revenues. But no sales tax! A sales tax would ruin the province and Alberta would start to look like Saskatchewan and Manitoba! LOL

[chuckChuck]

Either way you look at it the slide is inevitable.
Started my exit plan last year.

Old guys near retirement start to lose interest and energy. That is the decline that we can't avoid.

[jazz]

Chuck, Texas has 2/3rds of our population, a larger GDP a less diversified economy and they have no sales tax or state income taxes.

A single US state outdoes an entire G7 country blessed with 100x the resources.

We should hang our head in shame in this country for what was squandered. UBI will kill whatever spirit is left in this country. I sure as hell wont b trying to grow big crops to pay for a percentage of the population who wont leave their house. We already have a lot of those kind here. I wont play that marxist game.

[chuckChuck]

Jazz every government provincially or federally have supported EI and social programs of some sort for a long time. EI helps pay the rent or mortgage and put food on the table. Are oil workers supposed to go cold turkey with no income after being layed off? Some are so depressed they can't get out of bed. Should we just ignore them?