There are probably rock-solid political reasons why it makes no sense to go door-knocking the Sunday before Christmas. But, of course, they are lost on me.
This afternoon I traveled to the bottom corner of the riding, where the shores of Halton are lapped upon by the waves of Oakville riding. Across the road, Liberal Bonnie Brown is trying to hang on in the face of an assault by former provincial MPP Terence Young – and that race, I hear, is now too close to call. Oakville, by the way, is one of the richest towns in the country on a per capita basis, and right now more than 120 houses are on the resale market there for an asking price of more than $1 million.
So I knocked on about 60 doors this afternoon in one enclave where every home is worth well over seven figures. The good news is that just about everyone who was home recognized me instantly. Why such huge name recognition here is a mystery to me – but I’ll sure take it. The bad news is, a bunch of them were avowed Liberals. Fortunately, they were Liberals With Questions.
For the first time since I began door-knocking in June, I was invited into almost every home on the street. While that ensured I did not freeze today, it also meant this one neighbourhood chewed up my entire afternoon of canvassing time. This crowd clearly wanted to talk, debate and ask questions. Free trade, the WTO and American relations. The GST and income tax cuts. Funding of the health care system. Guns and crime. And, of course, Stephen Harper.
We spoke at length about all of these things and some trends emerged:
· Lots of Liberals, if I can judge by these guys, are truly conflicted over Paul Martin’s ability to be an effective leader. He is, purely and simply, a disappointment. No Trudeau intellect. No Chretien passion. Mr. Dithers.
· They may live in million-dollar houses, but this crowd is far from being financially secure. One man alluded to his $200,000+ salary, and his empty bank account. They are squeezed by property taxes and mortgage rates on one size, and a massive marginal tax rate on the other. There is little saved for retirement and disaster lurks in any pink slip.
· There is a palpable appetite for political change. Twelve years of Liberals is enough, and it no longer looks like the economy will be getting better all by itself. The orgy of pre-election spending promises irked business and professional people who know the world does not work that way – they want common sense political direction. But can Harper and Turner and the Conservatives deliver that? As I have said here for the last six months, that’s the challenge. Be mainstream, credible, realistic and modern and win big. Be reactionary, socially conservative and extreme – and it’s back to the ranch.
So, I won a few of the battles, gaining the commitment of a handful households to switch horses on the 23rd. And I think a few more will follow. One guy chased me down the street in his Lexus to question me about the federal debt over the last 20 years and, I think, was shocked to hear my answers. Liberals have fabricated a myth that the country’s debt is actually lower now than when they took office in 1993. The truth on that one is enough to make any card-carrying Grit choke.
Anyway, I called it quits shortly before five, headed home, picked up Dorothy and took her to the hospital. Thanks for asking, by the way – her mother woke up after eight days, and was actually sitting in a chair today. There are many issues to get through, but Dorothy is just happy she got to actually speak to her again.
Then we went to the campaign office, and I met with Esther on the budget. She has done a superb job on pulling it all together – signs, literature, advertising, canvassing, technology, phone bank, earned media, volunteers. Money is always a challenge, but we now have the campaign fully funded and are ready to rock ‘n roll through the critically important January phase. I am truly blessed to have the team captains around me that I do – Esther, Beth, Will, Patric, Paul, Adam, Keith, Lorne. As Dorothy and I were leaving, they were all just sitting down for the Sunday night organizational meeting.
We drove down Milton’s Main Street, leaving the Garth Turner office behind us, with its montage of illuminated window signs and cheery blue Christmas lights. We passed the local Liberal’s office two blocks away, as dark and gloomy now as grows the prime minister’s heart.
14 comments ↓
Garth, firstly may I wish your mother-inlaw a safe journey back to a state of health and well being.
Secondly, I admire from a far what you are doing, only wish someone like you was in my area.
As a former Minister of Finance can you please answer the following. Is it true that banks create money, via fractional reserve banking, is it also true that the former Mulroney government in 1991 phased out the requirement of Canada’s banks to hold any currency reserves to cover the money loaned out to governments and individuals at compound interest rates.
Curiously seeking answers to why our monetary system is way out of control.
Modern Banking Practice
Garth,
Really enjoy reading your daily comments. I’m interested in the liberal myth you mentioned about the debt being lower than when they took office 12 years ago. You’ve mentioned a few times that we must pay down our national mortgage. The current government has done so with the budget surplus, so please elaborate on the myth. Just provide the link if you’ve written on this before.
My second point is that I really hope you gave it to the poor guy and his 200k salary. Cry me a river. The fact that he would insinuate that somehow the government is to blame for the fact he has no retirement savings is insulting to the middle class families who actually make sacrifices to find money to put into savings and RRSP’s. His problem is poor personal financing. My advice to him would be sell his million dollar home, trade in his Escalade and Mercedes for an Explorer and Accord and quit trying to “keep up with the Jones”
There is little saved for retirement and disaster lurks in any pink slip.
So, they bought a big house and can’t cover the taxes and mortgage or any bad fate that might blow their way?
How is this the government’s problem and or fault? Sounds like in an effort to keep up with the Jones (real or imagined) their grasp exceed their reach (or is it the other way round?) and now they’re whining about it?
We just signed our first mortgage on our condo (which reminds me I picked up your book “The Strategyâ€â€¦ okay we got free with our subscription to the Globe and Mail… your stuff on condos didn’t really jibe with our own experiences, when I’m done reading it I’ll have more points of confusion for you to clarify) and we crunched the numbers so that even if one of use lost our income (odds are that would be me) we would still be able to cover the bills and taxes. We could have gotten a bigger one sure, but for use to be able to cover it we’d both need to be bad luck free for the next decade. We let the worst case scenario dictate exactly how much debt load we could handle. So as such we continue to save for retirement… well she does, I plan on selling blood and organs, mostly my own.
So how is Richie Not quite Rich Enough’s lack of planning and thought our problem? Shouldn’t they move to a smaller place with lower property taxes and that way they can have a home investment and savings?
Well actually I think the Tories have made it quite clear how they will help our distressed friend above. Most notably through income splitting.
Quite a nifty little gift the Tories have promised to “help” families that can’t get by on a couple of hundred thousand bucks.
Well income splitting would help my family. With a SAHM, 3 kids and one on the way, it would be most welcome. Oh, and by the way, we make a quarter of what buddy in the article makes.
“They may live in million-dollar houses, but this crowd is far from being financially secure. One man alluded to his $200,000+ salary, and his empty bank account. They are squeezed by property taxes and mortgage rates on one size, and a massive marginal tax rate on the other. There is little saved for retirement and disaster lurks in any pink slip.”
Too many words for a sign or a bumper sticker, but you could probably turn it into a decent protest song.
So how is Richie Not quite Rich Enough’s lack of planning and thought our problem? Shouldn’t they move to a smaller place with lower property taxes and that way they can have a home investment and savings?
By salvage on 12.19.05 10:34 am
So having a six figure salary means that all your issues should be minor because they can be addressed in relation to your income?
Those six figure income taxpayers shouldn’t have concerns over common issues such as taxation and mortgage rates?
A six figure income somehow makes you less of a Canadian in your world Savage?
What do you get when you have a guy making 200K a year, with little or no savings, and add a little bad luck??? Do we want to ‘isolate’ ourselves and think that this is only his problem?
‘His’ problem can be seen across the country (there are many living beyond their means). How many Canadians are just a little ‘bad luck’ away from financial armageddon? Add any number of variables such as higher interest rates, rise in unemployment, disease outbreak, etc. and see what happens to our economy?
Not that you should feel sorry about someone in his financial shape, but lets not think it is an isolated occurrence. With repercussions for us all.
So having a six figure salary means that all your issues should be minor because they can be addressed in relation to your income?
Nope, but the issue here is self-made isn’t it? They put themselves into potential financial jeopardy by buying more than they can afford. When we bought our place we researched, okay she researched I played video games, property tax of the area, our income, potential pitfalls, etc. (I smiled and nodded pretending that I knew what the hell she was talking about) Y’know fail to plan plan to fail kind of thinking?
Those six figure income taxpayers shouldn’t have concerns over common issues such as taxation and mortgage rates?
Of course they should, more than lower incomes I’d guess. But if their concern comes from inadequate preparation for the realities I find it hard to muster much sympathy. But that’s not the point, from what I can see they took on more than they can handle and now want the rules to change to suit their situation. They’re being “squeezed†by forces that weren’t a surprise, but they wanted more and well when you want more you pay more. To complain about it is a little bit immature if you ask me.
A six figure income somehow makes you less of a Canadian in your world Savage?
Oh sweet Jebus here we go with the “hate the rich†thing. No, it doesn’t. Being rich is cool, legally earning money through hard work, careful planning and or blind luck is something I’d love to do but I’m lazy, haphazard and used up all my luck in the 80s.
Buying a big freakin’ house, not taking taxes and interest rates into consideration and then whining that you don’t have enough money at the end of the year is just stupid and that knows no border.
there are many living beyond their means
Yes indeed, this is a problem, and what needs to be done that predatory lending practices need to be made illegal from scum bag credit card companies like MBNA (I had a buddy work management for them for a few years he told me all kinds of crazy stunts they pull, they are the epitome of corporate parasites… say I wonder how much they’ve donated to Harper?) to “rent to own†gouging (own this TV for $35 a month for the rest of your life!). Making a profit is fine, but there are some credit businesses that short of busting kneecaps would make the mob stop and take notes.
There is absolutely no reason for someone with a $200,000 salary to have any financial issues whatsoever. This man needs to learn to live within his means.
I make no where close to the 200 K, but I do have a large appreciation for those who have figured out how to. Whether it was through enough foresight to get relevant education or hard work or creative thinking they did something I haven’t to put them in that position. Maybe it was first buying a modest home and working hard to pay it off so they could sell and buy I bigger one — I don’t know but they did something right. I also appreciate that they (whether willingly or not) pay a way higher % of their income to the common good of Canada through their income taxes and property taxes. I for one would like to say Thank you. I don’t might helping out the poor and trying to put systems in place that will help them help themselves but every once in awile I think we need to say thank you to those who consistently give the most too. You say if they managed their money better they wouldn’t have any worries. We could say that of the low income earner too. They could probably do things differently and be in a better position. The majority of high income earners are just hard working people like the rest of us, who pay our taxes and expect the government to take only what they absolutely need to run and effective, caring society. It is all the wasteful and criminal spending that takes from every Canadian taxpayer and deprives the poor of needed programs..
If you can’t make it on a six figure salary then you will be like this guy trying to drive the wagon with a flat tire!!
Wheel falls off Liberal campaign – literally
http://david-akin.electionblog.ctv.ca/default.asp?item=119920
Perhaps the driver can reflate his tire with all the excess gas he has been expending lately.
I agree with Thots. We really should be thanking these guys in the highest tax brackets. They are (obviously) a minority of Canadians (I think less than 6% or so), and they contribute a significant portion to the federal piggy bank (close to 40% or so). While people should definately be responsible and live within their means, if these people hit hard times or decide to leave Canada due to high taxation, or whatever the case, we all loose.
For those individuals who want a factual reference to Garth’s position that overall debt levels are not decreasing, I would suggest that you reference this federal gov’t site: http://www.fin.gc.ca/frt/2005/frt05_3e.html#Table15
Note that Net Debt (Liabilities – Assets) is decreasing but that Gross Debt (actual liabilities) has flatlined.
The graph the gov’t shows around budget time is the debt / GDP graph; this shows that while our total debt has hardly moved our fiscal capacity (as measured by GDP) has increased by leaps and bounds. However, GDP doesn’t pay debt you and I do.
Furthermore, our overall interest charges have decreased only because the interest we pay on debt has fallen to historically low levels. Thankfully, long-term rates will remain constrained given the low core inflation and foreign purchases of gov’t secutities.
Considering that the Liberals have not contained spending and expenses are increasing at double the level of inflation, we need to ensure debt is paid down to allow us to meet the health care challenges in the coming years.
JMH