50 Billion CEBA.

[shtferbrains]

Many Farms are among the 900000 businesses that took the $60000 CEBA loan that is due Dec 31 to get the $20000 forgiven.
Some who took the money had no real need at the time but up to 45% of the businesses that still owe it will have a tough time paying it back and I expect some significant number had zero ability or intension of ever paying.
This is going to be a political problem for the Liberals as they don't want to be in the headlines as collapsing large numbers of small business'.
What I expect to see happen Is most who can afford to pay will and a significant portion who choose not to or cant pay will get some type of never never payment plan and get written off.

The other part of this I see as shocking is $50 billion to 900000 small businesses was a significant amount of money in that sector but we just gave $32 billion to 2 foreign companies for pie in the sky battery plants to supply Electric Vehicles that don't and quite possibly never will exist.

[13stripe]

Any farm that took this money has no right to complain about government waste. There was a time where people had more pride in looking after themselves. Any money from government is money taken away from someone else.

[furrowtickler]

Any farm that took this money has no right to complain about government waste. There was a time where people had more pride in looking after themselves. Any money from government is money taken away from someone else.

Same with anyone who does not farm and took this money , not everyone needed that handout , regardless of who they are our what they do .

“There was a time where people had more pride in looking after themselves. Any money from government is money taken away from someone else.” Totally agree ….

I know I have a right to complain about this CEBA waste . Also the complete wasted millions of CEBA money that ended up out of the country, absolutely despicable.
Every cent should be paid back that is supposed to be , absolutely no forgiveness to anyone .

[jazz]

Many Farms are among the 900000 businesses that took the $60000 CEBA loan that is due Dec 31 to get the $20000 forgiven.

I believe this was a strategic decision for most businesses. If your restaurant is empty for 9 months straight how do you recover from that. The govt cant really stop you from putting a crop in, but they can get their gestapo RCMP to tape up your city business front door and pull your license and give you a horse trample for good measure.

I believe that most of these businesses plan to default and bail from the country. Business owners are not dumb, they saw the sentiment turning when they had to close and Walmart stayed open.

Protect yourself because they are coming for the rest to pay for this.

[wmoebis]

I believe this was a strategic decision for most businesses. If your restaurant is empty for 9 months straight how do you recover from that. The govt cant really stop you from putting a crop in, but they can get their gestapo RCMP to tape up your city business front door and pull your license and give you a horse trample for good measure.

I believe that most of these businesses plan to default and bail from the country. Business owners are not dumb, they saw the sentiment turning when they had to close and Walmart stayed open.

Protect yourself because they are coming for the rest to pay for this.

Maybe they should have given every business an interest free cash advance and a low interest loan that they could pay back when they opened up again they could have just upped prices to cover it. They didn't have an opportunity at forward pricing or selling at any price.

Hind sight! What is fair?

[jazz]

I cant really get mad at people who took this money anymore. I mean most probably believed 2 weeks to stop the spread and then watched it drag on for 2 yrs.

Can really blame them for giving a good f*ck Canada on the way out.

As farmers we should be careful about glass houses. If the govt really gets in the way of this business and layers hurdle upon hurdle on us and regulations, are we really going to say well I will just work harder. There is a point where you cant fight the system anymore.

[shtferbrains]

Any money from government is money taken away from someone else.

89% of companies registered as small business took the loan.

Or 9 of 10 of your neighbors that are filing corporate tax.

Maybe that should read; Some money taken from you by government is being used by your neighbors ?

[foragefarmer]

Going to be a quiet thread, can't bitch and complain about the government when you took advantage of CEBA, especially if you just took it to get the $20K free money.

Same goes for a Cash Advance.

Let's hear from all the so called libertarians who took advantage of these programs, and like to yap and point fingers at those of us that don't conform to their political beliefs.

I've got a feeling that the biggest critics will never post a word. Going to be able to figure out exactly who they are.

13stripe and Furrow you're both a 100% right.

This thread should have been on the Marketing forum.

[AlbertaFarmer5]

I think I have suggested this before. But saving businesses was very secondary. This was literally helicopter money being pumped into the economy to keep the entire financial system from seizing up.
And we were probably dangerously close to that happening. Negative oil prices. Crashing commodity prices. Crashing stock markets. Unemployed people and business owners unable to pay mortgages or rent or salaries.
The point wasn't to get the money to who needed it the most the point was to get the money out the door circulating in the real economy as fast as possible. Damn the consequences down the road.

[blackpowder]

Going to be a quiet thread, can't bitch and complain about the government when you took advantage of CEBA, especially if you just took it to get the $20K free money.

Same goes for a Cash Advance.

Let's hear from all the so called libertarians who took advantage of these programs, and like to yap and point fingers at those of us that don't conform to their political beliefs.

I've got a feeling that the biggest critics will never post a word. Going to be able to figure out exactly who they are.

13stripe and Furrow you're both a 100% right.

This thread should have been on the Marketing forum.

I'll stand up and be counted.
In a free market, I have to compete with the competition. Any advantage they take and I do not, is my loss. Do you claim as many write offs as you can?
Also. The fact that the govt has confiscated my legally owned property worth much more.
And the fact that my son relies on private care in spite of harmful govt meddling that wasn't even an option for 2 years. 3 years interest on $60k pays for 7 months care. And no, there will be no gawd damned AISH application made either.
For him it would be a complete disincentive for achievement involving yet more govt meddling.
Have you calculated your capital gains bill lately?? Have you planned every method to minimize paying your fair share?
2 more facts.
Once a dollar is in govt hands, it's not anyone's anymore and is considered spent.
Second, socialists cry the loudest when everyone not equal. Which really means, someone got something they didn't.
Sorry, I don't feel guilty that I can pay for things others can't. Stand in the mirror next time you shout hypocrisy.

[foragefarmer]

Qualified for CEBA but chose not to take it, in all honestly didn't feel right about it.

As for loop holes in taxes the gray areas are used by everybody to their advantage, same applies to CG everybody who uses an an accountant will use them.

If you took out CEBA to help your children, glad you used it to help them with health reasons. I know you have mentioned this in the past on Agriville.

I give you credit for talking about it.

[blackpowder]

My apologies if I was misunderstood.
Taking the money was an emotionless business decision only. Nothing more.

[furrowtickler]

My beef is not who do or did not not take it , it is talk of the forgiveness of repayment and the wasted CEBA money that funneled overseas .
Every cent that is to be repaid must be or there should be jail time .
About 1/2 of CEBA was needed , the other 1/2 was simply vote buying and complete incompetence of money Management by this coalition government. And most of us , our children and grandchildren are going to be stuck paying for this government fiasco

[chuckChuck]

The country absolutely needed many of the covid support programs or we would have seen even more people who couldn't go to work, unable to pay their rent and feed themselves.

Its good to see that some of the biggest chronic complainers about government spending also recognize that covid support programs were needed.

So much for the conservative view that governments don't play important roles in the economy.

We did not apply for or receive any of the support programs because our farm didn't need them and we wouldn't have qualified for CEBA anyway.

As I said before if you are going to complain about all the people getting handouts who don't need them, then start by setting a good example on your own farm .

The reality is that many farms received benefits they didn't need and then have the gall to blame the government for all the extra covid spending.

[Guest]

And yet you are taking the Sask power subsidy ?
They realized it was wrong and stopped this silly practice of paying to import power at low usage times
It was simply a woke joke to please the left