Should the 2013 federal budget trim spending to make up for lower revenues? - Macleans.ca
 

Should the 2013 federal budget trim spending to make up for lower revenues?


 


 
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Should the 2013 federal budget trim spending to make up for lower revenues?

  1. Where`s the obvious choice of increasing royalties and taxes on the rich

    • Taxes on the rich are ineffective because the rich will just move themselves or their wealth somewhere else if you tax them too much, making Canada that much poorer.

      And taxing the rich too much can also make it so it is no longer worth while for them to work so hard to be rich, so they would just retire early so and live off their current assets .

      • Nonsense. All of our problems can be solved by killing and eating the rich. It’s very, very simple. There is no need to think about this any further.

        • Actually, there are many reasons…most of us don’t know what the proper sauce would be…and what wine would be most appropriate for a Rothschild, as opposed to a Vanderbilt? Slow-roasted, or open-pit (town square) public barbecue? Honey-garlic, or should they be breaded in tempura and deep-fried?

          There are always more questions… d;o)

      • Define “too much”

  2. Don’t plan on the CONs making a choice that doesn’t support their corporate friends. Wonder what SNC Lavallin is whispering in Jim’s and Stevie’s ear!

    • That’s easy, Walt: “Mo Money Money Money!!!”

    • When you complain about politicians helping corporate friends, remember that if you own stocks in a company then you have a corporate friend.

      • Shhh. You’ll force them to think, and that’s not nice.

      • So what? Government is supposed to help the public at large. Not just the segments of it that happen to own stocks in the companies they favor.

        • Government is a political entity based on the party in power. The PCs believe in little or no government. They believe in helping business not providing services to the public. Next time there is a federal election keep that in mind.

          • Any political party is a fraud. NOBODY runs on what they believe (unless it’s about a religion), or their past performance, or what they would do if they won.

            You simply choose your red shirt, blue shirt, green shirt, or orange shirt, and “play by the team rules”…no matter who it hurts, because “it’ll hurt the other guys.”

            Now, if you were voting on PEOPLE and selected them based on ISSUES which were determined by FACTS, then we could have a representative government…but that will never happen in a “party system.”

  3. Another completely useless poll.

    What WILL happen: More money will be printed. More digital money will be created. The fiat value of the money will be lowered. Prices will go up. People will be able to afford less, at a much higher price. Gas prices will double. Food prices will increase. Taxes WILL go up. Services provided will go DOWN. Nobody will EVER see it coming, they’ll be completely shocked when it happens. They always are.

    Why not just END THE FINANCIAL FRAUD and do what Iceland did? Naaaaaaw…that would benefit THE PEOPLE, and not the corporations, international bankers, or our PUBLIC SERVANTS…who no longer serve the people who pay their salaries.

  4. The Feds including the finance minister have not read or do not believe John Maynard Keynes. The time to reduce spending is not during a depression or a recession or any time of low growth. I am amazed that leaders in the world still believe in cutting expenses as the way to go. Read Keynes and don’t listen to the “cut expenses” group. They don’t know what they are talking about.

    • Art;

      Actually you really don’t understand Keynes-his 2 pronged theory was based on Monetary Policy (a reduction in interest rates) which the bank of Canada has done in spades and Fiscal Policy (an investment in Infrastucture) which has not been the case in Canada. A general wastage of $$ as you seem to support through numerous social programs in immigration, health, government etc. coupled with huge debt by Canadian individuals ($1.60 for every $1.00 earned) makes things more complicated.
      I agree with your last sentence that you or many others don’t know what your talking about.
      What you seem to support is spend, spend, spend which gets people and countries in unnecessary and harmful debt!!

      • There is nothing harmful about debt. In fact it benefits both the lender and the borrower, and helps them get ahead.

        We really have to dump this ‘kitchen table economics’!

        The only question that needs to be asked is ‘are you good
        for it’?

        Canada is an extremely wealthy country….just in natural resources alone, much less all the other things we have. Gold, uranium, oil and gas, potash, diamonds, lithium etc…so yes, we’re good for it. Borrow to build.

        • EmilyOne;
          What sheer nonsense you espouse.
          Look at the housing bubble in the US in 2008, what if inflation makes the Central Bank increase rates and Canadian mortgages go up up just a few % with thousands if not millions of households.Total housing chaos.
          Debt collapses economies like the USSR with more natural resources than country.
          A very small term controlled debt is not so bad but spend to the end is a killer of individuals,families and countries.

          • There is nothing wrong with debt. There is certainly bad management, but debt is a good thing in moving a society ahead.

            Get away from the kitchen table

          • Bad management? Of course we don’t have any of that in Ontario or the rest of Canada.

          • Bad management can exist anywhere. That’s not an excuse for refusing to do something, just fix the management.

          • You’re getting off topic–debt is the issue.

          • Yes, and bad management of debt.

          • Agreed!

          • We also don’t have Ontario Hydro, either. “Flawless management” there, huh? d;o)

          • Debt is only good if you’re a banker.

            First, you “loan” some fiat currency (or digital zeroes and ones) to some idiot who “believes” that it’s money, and you attach “interest payments” on top. Then you create the “money” out of thin air, but you NEVER create the interest. That…well…whoever was stupid enough to sign the contract will have ot find out where to get the interest to pay you back for that!

            Where does that interest come from? From other banks, who also create more fiat currency, which is also expected to be repaid with interest that is never created.

            It’s a never ending cycle that can ONLY result in the complete failure of the entire fraudulent system.

            Gold is money. It NEVER oxidizes, and thus, holds its VALUE forever. This is why the rich, and the world’s governments buy gold. THEY know this…so why would they never teach YOU about this obvious fact?

            Google “historical price of gold” (or grab this: http://www.nma.org/pdf/gold/his_gold_prices.pdf ) and you’ll see that the value of gold was constant for over TWO CENTURIES at about $18.96-18.98…prior to the creation of the Federal Reserve, and “world reserve currency.”

            DEBT IS FRAUD. There is NOT “nothing wrong with debt.”

          • Oh swell….a goldbug has joined us, with all the rubbish about ‘fiat money’

            Gold is useful for jewellery hon….not much else anymore.

          • You’re absolutely right. I’d still put one ounce of gold, silver, platinum, copper, or a chunk of granite onto a pile of a million dollars of your “valuable” paper with ink on it, and with one match, prove beyond any shadow of doubt who retained their value at the end of the event.

            But hey…if you think that piece of paper the bank sends you that you “believe” is a representation of “your” money…I wish you luck with that. You’re going to learn one way or another, and a lot sooner than you think…

            Remember: They didn’t just stop producing pennies “because they’re too expensive to make”…they’re REPOSSESSING THEM as well!

          • Well if you want to lug metal around the supermarket, bring a truckload of gold bricks to buy a house, and shave bits off gold wafers to pay for minor things like a coffee, you go right ahead.

            Most people however can understand the words ‘symbolic’ and ‘abstract’.

            Credit cards must confuse you completely!

          • The first Model T Ford cost $895.00, or 47 ounces of gold (or 2.8 pounds), based on roughly $19.00 price per ounce at that time.

            During the intervening years that followed, there were massive advances in materials, engineering, distribution, manufacturing, production line technology, robotics, and more. This all reduced the COST of building a car.

            Today (using Ford again) you can get a Shelby GT 500 for about $60,000.00. At today’s gold spot price of about $1600.00 (fiat dollars) per ounce, you can get the same value (one car) for only 37.5 ounces (2.3 pounds) of gold.

            Value, cost, and price are NOT equivalent terms, and can NOT be used interchangeably.

            Neither can anything with intrinsic value by interchanged with that which has no intrinsic value.

            To use your house as an example, in 1965, the average house went for $25,000.00. About 714 ounces of gold in 1965 prices.

            Today, the average house of the same square footage and build quality will run you about $135,000.00 to $150,000.00, or 84 to 93.75 ounces of gold at today’s spot price. (5.25 to 5.875 pounds of physical weight. You should really get into better shape if you need a truck to haul under 6 pounds!)

            But you’re right…I don’t know what I’m talking about. I’m the one arguing from ignorance…despite both the simplicity and verifiability of the mathematics I’ve just demonstrated being completely in favour of my side of the argument.

            Calculators, rationality, critical thought, and historical facts must confuse you completely! d;o)

            PS: You can buy gold by the kilo, by the ounce, by the fractional ounce, and by the gram, thereby completely nullifying another of your “anti-facts”.

          • Apparently you’re unaware you’re living in a capitalist system.

            Or that the global GDP is $69.97 Trillion…..and we don’t have anything like that in gold.

            Just a metal, boyo. Nice neckace

          • You take your ounce of granite to the grocery store and I’ll take the pile of a million dollars. We’ll see who eats tonight.

          • Actually, debt is fine. Your problem seems to be with interest.

          • The housing bubble was the fault of bad lenders, who were looking for more and more people to take their money because they thought they’d be guaranteed returns — property values couldn’t go down, so if people who couldn’t pay didn’t, they’d be fine anyway. They forgot that no man is an island, and so when the people who couldn’t pay first started to sell, that started bringing the values down which popped a hole in the balloon they were relying on.

            Then things got worse because, like people do, they over-reacted the OTHER way, and stopped giving out their money to anybody.. after all, they’re last sure thing had just crashed, no way they were going to get into another one.

            Inflation won’t happen until the economy gets moving again. If the economy gets moving, then slow increases in the interest rates can be covered by increases in people’s pay.

          • Inflation only exists because of bankers and politicians. It is the ultimate fraud, and works so well because so few people even care to think about why the same products are priced so much higher today, when they’re actually cheaper to make now than they were a century ago.

            Digital & paper currency is DEBT.

            The reason digital & paper currencies are dying is because the inflation is occurring at a faster rate than science and technology can reduce the cost to produce items of equal value, and THAT is the reason that prices keep going up.

            The housing bubble was DESIGNED, it’s purpose attained, and it was popped for the enrichment of the scam’s designers.

            And you haven’t seen anything yet!

          • What do you mean”what if?” Just look at Vancouver and Toronto RIGHT NOW and you’ll see evidence of the real estate bubble in Canada getting ready to implode!

            It’s only a matter of WHEN Canada follows the same path…after all, it was designed by the same people, and the same desired results WILL occur in Canada as the rest of the planet is experiencing already.

  5. One caveat is to enure the so called cutbacks are ‘first’ aimed at the SENATE !!!!

    • Small pickings stihdr but very popular.

    • The Senate costs are a pittance compared to other big ticket spending like buying expensive airplanes we don’t need or leaky boats from England.

  6. Cut spending in many departments especialy the likes of Indian Affairs where more $$ are wasted by band councils such as Chief Theresa Spence.
    Yes by all means cut government spending!!!

  7. How bout more thought going into the spending. STOP giving money away to non deserving fringe groups, and get rid of the senate, stop feeding the political pigs at the trough – etc.

  8. sorry to say but the smart thing to do is to erase the currency. that would put all the under the table workers out of business in a hurry. you wont be able to use a atm card to buy a hooker of the street or drugs. i never deal with cash i always use my ATM card for everything.

    • Actually, every time you use that ATM card you speed the creation of “digital money”, and reduce the value of even the known-to-be-fraudulent paper with ink on it. Using a “credit card” only does it twice as fast, as the phony money is created on both ends of the transaction.