The Liberal caucus met for some time last night to sift through the rubble of Jim Flaherty’s dismal budget. There were, to put it mildly, many concerns. I voiced mine. Chief among them is the palpable worry that the finance minister has once again misread the economic indicators and is vastly underestimating the severity of the US downturn.
Even his rose-coloured forecast has us skating to the brink of deficit just three years after the Conservatives inherited one of the plumpest balance sheets on the planet. This clearly shows what three budgets and two economic statements, containing record spending and aimed at buying votes rather than governing, can do. There is now a black hole forming where the national vault was once bolted.
Meanwhile the budget does nothing of significance for the people in my riding, or virtually any other. The only thing I like is the new savings plan – which I proposed to Flaherty in my big budget report of April, 2006. Sadly, it comes two years too late to help savings-challenged families, who must now weather an ecnomic downturn on their own.
I am off to more meetings with my colleagues. There is much to discuss. I trust you will read about it all in the pages of the Globe. In a few hours I will also give you my advice on how to use the new after-tax savings plan.
156 comments ↓
I don’t get it.You call it a dismal budget and that there are many concerns.yet the liberals will SUPPORT it.Actions speak louder than words,so this MUST mean that the liberals agree with the conservatives.Your new leader Bob Rae doesn’t want to defeat it,and no one is listening to Dion anyway.Why don’t you all cross the floor to the proper side of the chamber and sit as conservatives.Then you can get a close look at a true leader,Prime Minister Stephen Harper.(I love how that sounds,don’t you?)
Here is how one Liberal sees his party:
“Unless we ever get serious about reforming this party and returning (or, since they’ve never really had it, giving) power to the grassroots then it’s hard to really care where we go from here. Dion will stay an indesiesive [sic] yet willing captive to a divided caucus running its own multiple agendas until enough of those factions decide their interests warrant an election. We’ll then finally have an election that, at this rate, we’ll lose. We’ll pin it all on the leader, he’ll probably fall on his sword, and we’ll have a leadeship race. We’ll look for the most messiah-like, crown them, the Conservatives will begin their predictable attack ads and the cycle will begin all over again. Remember, you read it here first.”
http://bcinto.blogspot.com/2008/02/if-not-now-when-for-love-of-god-when.html
Hi Garth, I’m just wondering, will Mr. Dion allow a free vote on the budget? Why would he force people like you to vote for what you so obviously feel is a total failure to all Canadians?
I’ve listened to a lot of Liberals since yesterday condemn this budget. They huff and they puff, but refuse to blow the house down. Interesting.
On scanning your blog this past few days; there are a couple of comments that kind of stuck in my mind that I thought when I had time, I’d like to briefly comment on, so with your permission:
Someone (I can’t find it or remember who), made reference to MP’s salaries and perks. As I remember, it was seriously not in a good way. That reminded me of a documentary I saw a while back, I think on CPAC, of the life of Libby Davis. Wow. Who in their right mind would want to be an MP? She had many regrets, mainly of not having time for her son as he was growing up. An MP gives us so much, it is unreal. They are either travelling, helping individual constituents or fighting the good fight in the House. There is no private life. It’s like, MPtv that has no other channels and is on 24/7. The poster mentioned $150K per year + perks. Big deal. Compared to banking CEOs who have time within their jobs for a life, the pay is peanuts. Think on this; many of our MPs in private life could earn 10X an MPs pay without the constant stress and mud slinging. Most do it to serve their country. Period. There is a reason we refer to MPs as ‘Honourable’.
***********
To Marg: Paul Martin added the E.I. funds to the general coffers years ago. Having them back under their own account is a good thing.
Got to run. Have a good one all. Leasa
And how Rick Mercer sees the Liberal Party -
http://www.cbc.ca/mercerreport/backissues.php
Scroll to Episode 16 (Feb. 26, 2008), and “Mercer: Message from the Liberals”.
Life is cruel, but you have nowhere to go but up.
The reason the Liberals talk tough and criticize the government continuously on every issue and yet don’t stand up to oppose them — is because they have nothing to offer in their place. They are not united, focused or creative. They are playing smoke and mirrors with the public hoping somehow they can get it together. It is getting worse! Almost every media person is talking about the weakness of Dion’s leadership.
It is one thing to say I want Harper gone BUT when the alternative you are looking at is the current Liberal party and its leader – No way!!!
You put up a good front day after day Garth but if you are not disappointed and frustrated with your current party -then you must be living in denial.
The Liberal caucus met for some time last night to sift through the rubble of Jim Flaherty’s dismal budget. – Garth
So, again, are you going to stick with your principles and vote down the budget?
TFSA Partially Dissected..
Overall, most Canadians can’t afford to even top up their RRSP contribution room, which gives you a bigger bang for your after tax bucks. A $5,000 cap on contributing to the TFSA does little to nothing for your finances. Here’s why..
The Possibilities:
The account can be used as a simple savings account where interest can grow tax free.
This could be an opportunity for stock trading pros to utilize their options/shorting strategies without their gains being taxed as income.
An opportunity for income splitting where couples now have double the TFSA room to play with.
Invest in strong foreign dividend companies and withdraw the dividends TAX FREE. Right now, if you receive foreign dividends, they are taxed at your marginal rate. If you put these foreign dividends in an RRSP, they grow tax free, but you are taxed when you withdraw. The TFSA provides a great way to get exposure to those juicy American dividends, tax free at that.
Invest in higher yield bond funds/income trusts and withdraw distributions as a tax free income supplement.
Opportunity for non registered portfolio rich seniors to move their dividend paying stocks into a TFSA to prevent OAS reduction.
A combination of an RRSP Meltdown
*****
A $5,000 contribution limit per year is not going to allow many possibilities:
The account can be used as a simple savings account where interest can grow tax free.
-This will save you about $80 per year in tax.
This could be an opportunity for stock trading pros to utilize their options/shorting strategies without their gains being taxed as income.
-Most options strategies other than buying calls and puts requires $10,000 in equity.
-Short selling requires $10,000 in equity.
An opportunity for income splitting where couples now have double the TFSA room to play with.
-Be prepared to buy software to figure out the optimal income splitting calculations.
http://www.thestar.com/Business/article/305503
Invest in strong foreign dividend companies and withdraw the dividends TAX FREE. Right now, if you receive foreign dividends, they are taxed at your marginal rate. If you put these foreign dividends in an RRSP, they grow tax free, but you are taxed when you withdraw. The TFSA provides a great way to get exposure to those juicy American dividends, tax free at that.
-How much of a position can one take in a foreign dividend stock to provide an income or supplement an income with $5,000?
Invest in higher yield bond funds/income trusts and withdraw distributions as a tax free income supplement.
-Again how much of income supplement can you get with $5,000 in income trust equity? Is this pre or post income trust distribution tax?
For example, if you bought $5,000 worth of a closed end diversified income trust fund such as EIT.UN, you would purchase 868 units at $5.68 utilizing the current pricing. This is an extremely high yielding income fund at 14.78%! What will your monthly income supplement be? $60.76 Over the course of a year that will be $729.12. What tax savings do you receive for this? I haven’t figured it out yet, but probably not much considering that if you purchased this in a regular brokerage account, you could margin the position and write off the interest and also utilize the dividend tax credit to mitigate taxes. Post 2011, who knows?!
Opportunity for non registered portfolio rich seniors to move their dividend paying stocks into a TFSA to prevent OAS reduction.
See above note.
A combination of an RRSP Meltdown
Like I said a while ago, the CON agenda is to destroy the RRSP/RRIF account type! What do they care, since they receive gold plated pension, screw the rest of us!
What lying, cheating, contemptable, buffoon, assholes.
Sincerely,
Geoffrey L.
Hamilton
Garth, can this tax-free savings account then hold investments like mutuals, stocks and bonds?
If so, then it is a foot in the door for those that wanted an elimination of the capital gains tax. All they have to do next is to expand the contribution limits incrementally to 500K and beyond.
Who then picks up the tax shortfall?…yep.
(Thanks Herb for pointing me to the only meagre seniors’ benefit – trivial pursuit.)
If you want an eye opener this AM. Have a gander at these Commodity Charts. They include things like wheat, corn, soybeans, oil, etc.
The new after tax savings plan won’t come til’ next year, Garth. And as good a plan as it is, it will be hard for Canadians to save during a recession.
Meanwhile, something has to be done about this. Our current pro U.S. multinational so called Canadian New Con government won’t do anything.
http://www.reportonbusiness.com/servlet/story/RTGAM.20080227.wrhollow27/BNStory/Business/home?cid=al_gam_mostview
And thats why we are currently number 1 in the world of foriegn takeovers of Canadian corporations. Its shameful that the New Cons stand by and do nothing. IT’s… Harper’s american loving proof is in the pudding.
For those asking about free vote – will Harper let his bobbleheads have a free vote – or Layton for that matter?
What’s good for the goose is good for the gander – free votes all around or not?
Memo to Ralph Goodale
http://caiti-online.blogspot.com/2008/02/memo-to-ralph-goodale.html
By Herb on 02.27.08 8:38 am
Four by-elections coming. I agree with your view, ‘it might be the season of discontent.’ You’ve seen the polls. Would you trigger an election?
I say we should let PMSH and Flim-Flam Dim-Jim Flaherty ‘ride the bomb down.’ After all, they’re responsible for depleting the healthy kitty, while paying absolutely no heed to macroeconomics … which have been on the horizon for more than two years.
The unemployed, particularly in forestry and manufacturing, are not going to be content to sit on their hands.
By Geoffrey L. on 02.27.08 8:50 am writes, “The account can be used as a simple savings account where interest can grow tax free….This will save you about $80 per year in tax.”
Not clear on your math. Say the $5K in your tax free savings account was invested in something that yields a nice annual return (it does NOT have to be in a bank’s savings account yielded 2% – you can buy equities, mutual funds, debt,) – so, say you invest in an emerging markets index fund. Say that it performs as well in the year you make the $5K investment as mine did last year (12%). A 12% return on $5K is $600. Taxed at the highest marginal tax rate in Ontario (combined federal and provincial rate = 45%), you would pay $270 in taxes. While not a windfall, this $270 is still a much greater than the $80 you claim will be saved.
Glad you are not my financial planner!
Artfully clever scheme achieves Tories’ goal
http://www.thestar.com/News/FederalBudget/article/307325
A pitance goes to the environment as usual by the New Cons.
http://www.cbc.ca/canada/story/2008/02/26/budget-environment.html
This was the budget that should have been voted down. Too bad Liberals didn’t have the polling support to topple this fiscally irresponsible New Con government.
http://www.cbc.ca/canada/story/2007/10/30/libs-minibudget.html
What lying, cheating, contemptable, buffoon, assholes.
Sincerely,
Geoffrey L.
Hamilton
By Geoffrey L. on 02.27.08 8:50 am
None of us doubts your sincerity, Geoffrey.
By slg on 02.27.08 9:17 am
Good point, SLG. CRAP is nothing more than spin.
Right now all I see is an opposition full of posers who’d rather make noise from their seats than make a difference.
this better be going somewhere. the people I talk to that don’t like Harper have just as much disdain for Dion for being so useless and I don’t blame them.
Well, that’s over with. Maybe Parliament can get focused on dealing with the needs of the people rather than the needs of the MP’s for power and an unnecessary election now?
Without a pending election what will some here have to talk about?
Why are people asking about free votes over the budget? Political parties do not and never have allowed a free vote on the budget. Remember Joe Commiso (spelling?)the last Liberal to not vote with his party! Boooot!!??!!
To allow free votes would mean having real truthful non partisan debate. Todays politicians are so living within the box they couldn’t even conceive of such a concept!!
Email garth at garth@garth.ca and let’s put the pressure on.
Stand up for Canada , Turner.
http://jimcotton.blogspot.com/2008/02/its-disappointment-but-also-letdown-is.html
By Ken on 02.27.08 9:49 am
Pretty much like watching lab rats scurry about in their own maze.
When the U.S. election is over, and NAFTA is brought down, what will the exporters who rely solely on the U.S. market do for a living? Whine some more?
Anyone else wonder what we will get for the $720 million to be spent on ONE ice breaker, capable of carrying troops of course? What a joke this government is.
Canada got what it deserved when they voted against the Liberals out of spite and brought in a far worse bunch of thieving morons led by Harper.
Times are gonna be harder, and very soon.
Hey there BOB R. You wouldn’t recognize a leader if he or she was stepping on your toes. May I suggest you read Harper’s 1997 speech to his american neo-cons and then you tell me in all honesty (if you can) that this is a leader for Canadians. You need to know who this man really represents. Hopefully, you will see the light and a great weight will be removed from your toes.
By Geoffrey L. on 02.27.08 8:50 am writes, “The account can be used as a simple savings account where interest can grow tax free….This will save you about $80 per year in tax.”
Not clear on your math. Say the $5K in your tax free savings account was invested in something that yields a nice annual return (it does NOT have to be in a bank’s savings account yielded 2% – you can buy equities, mutual funds, debt,) – so, say you invest in an emerging markets index fund. Say that it performs as well in the year you make the $5K investment as mine did last year (12%). A 12% return on $5K is $600. Taxed at the highest marginal tax rate in Ontario (combined federal and provincial rate = 45%), you would pay $270 in taxes. While not a windfall, this $270 is still a much greater than the $80 you claim will be saved.
Glad you are not my financial planner!
By Oscar on 02.27.08 9:35 am
Here is a quote from the Toronto Star:
“The most a high-income taxpayer in Ontario would save on a $5,000 deposit is about $92.20 in tax if he or she earned a 4 per cent interest rate.”
, but
“Instead, the budget emphasizes the long-term advantages. A middle-income earner who saved $200 a month, and earned 5.5 per cent from a blend of capital gains, dividends and interest income, would save $48,000 over 20 years and have $39,525 of tax-free investment earnings, about $11,045 more than if he or she had to pay tax. The budget’s example is based on a world without price inflation and rising contribution limits.”
http://www.thestar.com/News/FederalBudget/article/307252
Like I said Ron P.,Prime Minister Stephen Harper.Voted in by those who want a great leader,approved by those who wish they had a great leader(your lieberals).
, but
with no ability to write off capital losses, and no ability to write off the contribution amounts. Most Canadians cannot even afford to make their maximum RRSP contribution as they earn less than they spend and go into debt.
Oscar on 02.27.08 9:35 am
This comment was emailed emailed from a former Department of Finance official:
Where can you invest $5,000 a year. It does not even buy 100 shares of decapitated CIBC. No broker will be interested in opening and managing puny accounts of that size unless they can collect fees that will exceed the annual investment income received in such accounts. And then there are “experts” writing in the papers that you should invest your $5,000 in dividend paying stocks including high dividend foreign stocks.
It should also be noted that small investors are the ones most prone to panic and sell when the stock market nosedives. These small investors will be very susceptible to capital losses which our “generous” Minister of Finance says will not be eligible for any form of compensation. The small guy will as usual be a loser.
Have $5,000. to invest in TSFA? Buy CSBs or GICs. Get 3.5% and let inflation eat more than half. Real rate of return about 1.5% or about $75. a year………………….the price of a pizza and beer dinner for two at the Boston Pizza (a business income trust) . That should make small folks’ retirement more pleasant and surely make them forget about the tens of billions of dollars of their retirement savings destroyed by Flaherty with his Tax “Fairness” Plan.
By Oscar on 02.27.08 9:35 am
Not clear on your math. Say the $5K in your tax free savings account was invested in something that yields a nice annual return (it does NOT have to be in a bank’s savings account yielded 2% – you can buy equities, mutual funds, debt,) – so, say you invest in an emerging markets index fund. Say that it performs as well in the year you make the $5K investment as mine did last year (12%). A 12% return on $5K is $600. Taxed at the highest marginal tax rate in Ontario (combined federal and provincial rate = 45%), you would pay $270 in taxes. While not a windfall, this $270 is still a much greater than the $80 you claim will be saved.
Oscar, have you taken into consideration that the $5K invested is taxable in the contribution year, so is probably going to cost you very approximately $2.5K?
I’d be curious to hear some thoughts, whether the new $5K tax-free savings plan is better in the long run than RRSP’s.
When we invest in RRSP’s, the amount contributed is deducted from that year’s taxable income, and any income earned is not taxed. Then ‘down the road’ they are taxed upon withdrawal from the RRSP during retirement, when presumably our annual income will be in a lower tax bracket then when we were in our peak earning years.
With the new plan, we can salt away $5K per year of income on which we’ll pay income tax that year. Then any interest or capital gain earned is tax free for the life of the investment, and can be withdrawn at any time, without paying income tax.
I wonder – which is better?
EVEN HIS ROSE COLOUR GLASSES HAS us heading for a possible deficit in three years. This is shear speculation.
From the budget there was $37 billion paid down on the debt the past two years. Therefore, a deficit if needed would be short lived and a temporary problem.
Lets look at the bright side this was a very wise budget. Jeff Rubin (economist) stated the economic statement in the fall was the right balance that has allowed us to weather the effects from the US down turn to date.
Some are clamouring for more for the environment and as Mr Turner mentioned there was nothing in the budget for the people in his riding. The Mayor of the City of London and the LEDC manager are elated with the budget and the Mayor is a Liberal. These are tough times and require tough mesures.
If Mr Turner feels that the budget is a dismal failure as he has stated in his post. He should not vote the party line and stick to his principles and vote his conscience.
You cannot criticize the budget and then roll over and dream up ways to spin the budget as if it is a Liberal budget. The budget is exactly what it is. The proper measures to get us through this uncertain period of time.
Mark my words all will turn out well. It always does.
The manner Mr Dion commenced his comments to the media I thought everyone would get their wish and get to the polls. He then shifted gears and stated he would support the budget. The question the Liberals are faced with is how do they do it with honour. Will it be a whipped vote with several Liberal getting sick on that day.
Garth,
Whether we have an election of not has been rendered moot.
What possible difference could going to the polls make when there is no perceivable difference between parties?
Now I know why bigmouth baird has had his mouth shut.
Baird’s interest in rail deal ‘unusual,’ committee told
Commons panel hears minister handled the file personally
Patrick Dare, The Ottawa Citizen
Published: Wednesday, February 27, 2008
The senior bureaucrat at the federal Treasury Board told a Commons committee yesterday that he never saw Ottawa’s light-rail contract because his political boss, John Baird, handled the file personally.
Mr. Baird, the Conservative MP for Ottawa West-Nepean and the regional minister for Ottawa, stepped into the rail issue during the 2006 municipal election — a move described by the city’s top bureaucrat as “unexpected” and “unusual.” At the time, he was Treasury Board president
http://www.canada.com/ottawacitizen/news/story.html?id=83e99300-3f5e-4e25-9332-a3b9558abd96
Party politics make mockery of probe
Did former Treasury Board President John Baird intervene in the most recent municipal election, skewing its outcome?
Duh!
That, theoretically, is what a House of Commons committee is hoping to get to the bottom of.
Unfortunately, despite the seriousness of the allegation, there’s little hope this committee will ever reach any sort of meaningful conclusion.
During the 2006 municipal election, Baird took the unprecedented step of withholding funding for the city’s light rail project, saying the money would be there if the newly-elected council voted in favour of it.
http://www.ottawasun.com/News/National/2008/02/27/4879018-sun.html
PARLIAMENTARY PROBE
After delay, PMO aide agrees to give testimony
DANIEL LEBLANC
February 27, 2008
OTTAWA — A key aide to Prime Minister Stephen Harper agreed yesterday to appear before a parliamentary committee after angering opposition MPs by refusing to confirm his attendance.
Dimitri Soudas, Mr. Harper’s deputy press secretary and Quebec adviser, will appear before the House committee on government operations tomorrow to explain his 2006 intervention in a federal lawsuit against a real estate developer.
The clerk of the committee, Michel Marcotte, has been working to secure the presence of six witnesses at the committee for two weeks. But Mr. Soudas did not return his messages, and the clerk told MPs of the situation at a meeting yesterday morning.
Mr. Soudas called the clerk and confirmed his attendance in the afternoon, after opposition MPs complained and a reporter left a message with him.
http://www.theglobeandmail.com/servlet/story/LAC.20080227.SOUDAS27/TPStory/TPNational/Politics/
By David Halfkenny on 02.27.08 10:43
Your claim of 37 billion paid down on national debt by the New Cons simply isn’t true.
http://www.ctv.ca/mini/budget2007/interactive/flashback/main_frameset.html
Furthermore, the only highlight of this budget was an idea cribbed from Garth Turner. All I see is a New Con brain drain before me, with the real fiscal damage done in Octobers 2007 mini budget.
Further, you downplay the seriousness of deficits to our nations finances and ignore the effect the U.S. recession and currency crisis will have on Canada both in the short and long term. The one person with rosed colored glasses tainted by New Con love is you, Dave. It is seriously clouding your judgement to believe that Canada is headed for a long, drawn out recession created by an ugly one south of the line.
Your love for war is also an ugly reminder of why it is that we need a change of governance at the federal level.
http://www.alternet.org/audits/77500/
So Hillary and Barack want to renegotiate NAFTA.
Good.
Treaties like these need to be reviewed every so often. NAFTA was negotiated under a different economic climate. And Obama has it right when he says it must protect the environment and workers safety. I hope this is not speak for lowing standards.
Of course the US. will want it to favour them. But, having seen how the US. has chosen to selectively ignore NAFTA when its suits them, I would suggest any changes the US. wants should be conditional on one thing. The Federal Trade Commission, the one that keeps ignoring NAFTA and WTO rules and imposses illegal tarrifs just because some US. lobby group has the dollars to become a squeaky wheel, must be put out of business when it comes to trade within North American.
New Canadian Budget: “We’re Screwed.”
by Lloyd Alter, Toronto on 02.27.08
http://www.treehugger.com/files/2008/02/canada-budget-screws-environment.php
So, BOB R, you didn’t read his speech. You’ve decided to keep your head in the sand? You must know that these aren’t real Conservatives, if they were then I would vote for them but SH has found a way to hijack the party and if left uncheck he’ll hijack our Canadian identity. And if I have to explain that to you then maybe you’re in the wrong country. So , who are you, an Alliance guy, a Reformer, a Bush lover? Or are you too shy to reveal.
Listen, we pay you bums for blood. We need you to clash heroically over the issues of our day so that the rest of us can get on with the actual business of civilization. If you won’t fight, we have no use for you. It doesn’t matter if you’ll lose. It’s only the fight that counts.
Garth, when will your housing Blog start up? Here’s a story for it….
This house was a steal
How fraud led to this property changing hands 3 times as son of owner sat dead inside
So BOB R, like I said, read his speech . Are you afraid of the truth?
Garth, with this budget it seems they’re putting the taxes on dividends up. What is the nature of this tax hike. Are they ending or reducing the dividend tax credit?
I’m wondering what the net effect to small business entrepreneurs who use dividends as their primary income source — will our taxes go up ~7% by 2012? At current, we pay corporate-side tax but much lower personal income tax thanks to the dividend tax credit.
The current system is balanced such that an employee making x should pay about the same as an entrepreneur making the same when you include corp+personal taxes.
Is this balance going away? And what gives with the new taxes?
By PYOTR PETROBITCH on 02.27.08 9:33 am
Four by-elections coming. I agree with your view, ‘it might be the season of discontent.’ You’ve seen the polls. Would you trigger an election?
I say we should let PMSH and Flim-Flam Dim-Jim Flaherty ‘ride the bomb down.’ After all, they’re responsible for depleting the healthy kitty, while paying absolutely no heed to macroeconomics … which have been on the horizon for more than two years.
The unemployed, particularly in forestry and manufacturing, are not going to be content to sit on their hands.
……………………………………………………………..
Congratulations PP-Boy on your exquisite “curvilinear thinking” on Dion’s caving on the Budget, Omnibus crime bill, Afghanistan too. Your poor mother would be proud of your now chastened performance as you tread water one inch deep along with Dion ..!!!
(Curvilinear Thinking – when one thinks so hard their head goes up their arse .. e.g. PP-boy)
http://www.garth.ca/weblog/2008/02/24/crime-punishment/#comments
BTW … yesterday on CTV Duffy Live show, Liberal comfort woman Gloria (G&M) Galloway predicts the possibility of two Liberal losses in the upcoming by-elections — the SK and Quadra ridings. What does Gloria know that you don’t ??!!
Now all that remains to be seen is whether the Liberals will become Abstainerals or Absenterals as they capitulate on orders from their esteemed leader Dion …. to ‘ride the bomb down’ linearly with Dion leading the way.
New NDP attack ad: “Dion IS a loser !!”. Perhaps Dion will abdicate before the ad hits the tube..!!!
(BTW2 … I see the CBC is shoving the fork into Dion on Mercer’s show with the skit “We’re adaptable” … HILARIOUS !!!)
By vicguy on 02.27.08 10:42 am writes, “Oscar, have you taken into consideration that the $5K invested is taxable in the contribution year, so is probably going to cost you very approximately $2.5K?”
“Cost me”? The 5K is after-tax dollars. If you are arguing that someone in the highest tax bracket in Ontario would have to EARN 5K +2.5K to have, in hand, 5K after taxes, then you are right. But. it doesn’t “cost” anything else you are borrowing to fund the 5K. On borrowing – I am not sure if this will be allowed. I just don’t know. But, if it is, one can expect the interest paid to service the 5K loan to be tax-deductible.
One advantage this vehicle has over RRSPs is that this vehicle does not need to be used just to fund retirement. Why not establish a rainy-day fund, a supplemental fund for your kid’s education, a savings fund for your first house (in addition to your RRSP)….I would not view it just as something to help with retirement.
Bill-Muskoka – You asked “Without a pending election what will some here have to talk about?”
How about the Appeals Court ruling on the Wheat Board? Works for me.
You said – “Times are gonna be harder, and very soon.”
I couldn’t agree more.
I’ve got visions of the early 1980’s dancing in my head.
By Geoffrey L. on 02.27.08 10:39 am quotes a “Finance” official, “Where can you invest $5,000 a year. It does not even buy 100 shares of decapitated CIBC.”
(1) Equities as an investment class historically returned about 11% through the 20th century. Read one of David Swensen’s book for insights on how to allocate assets across different asset classes to optimize returns, given needed payouts and risk. You can get a self-directed brokerage account and need not trade through a broker.
(2) My emerging market equity index fund performed well last year (about 12%). My investment was well-below $5K.
Hi Garth,
My simple reaction is:
Exasperation.
If the campaign organizers failed to get ready for a campaign, after they bitched and moaned and whined 5 months ago – FIRE THEM! They should be FIRED. We all knew there was the possibility of an election call. So what the hell is going on there?
All of this “we don’t support it but we won’t vote for it” BS is wearing thin, even for me, and now, even myself, somebody who was more than willing to give Dion a chance, am questioning his wisdom.
What’s going on over there Garth? Why isn’t the campaign organized?
Is it because you’re all cash strapped? Well, why do you think that is? Do you think I’m really going to open my wallet and donate money…or organize anything when you guys are giving me nothing to support? Frankly, as a Liberal, you’re making me look like an idiot.
Just to make matters worse – I wasn’t consulted on whether or not I wanted Rae to run in Toronto Centre. If he’s such a star candidate, why didn’t he run for the party nomination? Why is Dion behaving exactly like every other Liberal leader?
We still have the same disfunctional BS party, without any real democratic reform. It’s the same bunch of arrogant people who figured they could have a civil war while they were in government and while our enemies were merging together. Disgusting. They ought to be purged.
What are you Liberals offering that’s any different?
Where the hell is the hope for real reform Garth?
I’m not coming down on you personally. I want you to ask the umpteen odd crusty gray-hairs and nervous nelly’s that you caucus why, after 2 years and numerous suggestions for reform, nothing has changed?
I’m totally dissolutioned with the empty rhetoric and incompetence. Could you please ask what’s going on?
Ok this tax free savings plan thing is a joke…
There are MILLIONS of Canadians who live paycheque to paycheque. They don’t have RRSPs, let alone a @#$#in savings account. Big deal…
How about some money for social programs like homeslessness?? SH is so out of touch with reality…
and I can’t believe the Liberals would support such a mediocre, sub-standard budget…
Meanwhile, here is what John Ivison is saying in today’s National Post …
If there was an election tripwire in this budget, it looks like it was the derisory commitment to spend an additional $1-million next year on promoting conservation and sustainable economic development. If the Liberals are deranged enough to want to trigger an election, they should use this as the pretext.
Talk about kicking sand in Dion’s face ! That $1 million is chump change directed at two of Dion’s “pillars”, that he crowed about, after becoming Liberal leader.
How can the self-proclaimed “hero” of the environmental movement accept this humiliation, and show his face at Elizabeth May’s next tupperware & carbon trading party ?
Garth, salvage some self-respect. Sit as an independent again. Surely you have enough “up to 75 % tax exempt” donations from last year to get you through an election campaign ?
You have no more legitimate excuses for remaining a part of the Liberal team.
There is nothing for health care in the budget either….1/3 of nurses in Manitoba are retiring in the next 3 years !! WE HAVE A HEALTH CARE CRISIS !
This just in.Prime Minister Stephen Harper thanks the liberals and real leader Bob Rae for AGAIN supporting the government.”Obviously they know a good thing when they see it”
LoH_Numa…good summation of the frustration
I still think Dion knows something BIG is coming down that will bring Harper and the CPC into eternal oblivion.
Seems all the burners are full and pretty soon something is going to boil over and make a BIG mess in the PMO!
Just a hunch, but if it is right, things may get extremely interesting.
Let’s see what’s cooking that we know about?
Mulroney/Schrieber
Baird/Ottawa contracts
Afghanistan/NATO
NAFTA/BSE/Timber/China, etc.
NAU/SPP
The economy
Oil & GHG’s
There is a lot cooking, and that is just what we know about.
Time will tell. I shall sit on the bank of the river and wait….
Federal Reserve chief offers grim economic view
http://www.msnbc.msn.com/id/23367821
Has the economic system been set up
by the banker/neo-con/new world order?
Former Fed chief Alan Greenspan says dollar peg ‘needs to go’
http://www.gulfnews.com/business/Economy/10192824.html
For more on the Federal Reserve
see movie,
America: Freedom to Fascism – Director’s Authorized Version
by Aaron Russo
1 hr 51 min – 2007-05-05
http://video.google.com/videoplay?docid=-1656880303867390173
Interview with director.
37 min – 2006-06-08
http://video.google.com/videoplay?docid=-3254488777215293198
By Ken on 02.27.08 9:49 am
You are of course right Ken. All money matters are considered a whipped vote. However, I was considering the reality that there is so much division in the LPOC right now. I cannot ever remember in recent history so many Lib. MPs running to the media as there are now. Even confidential caucus meetings are being played out for the media. I think the only way to unit the LPOC once and for all would be to allow a rare (if ever) free vote on this budget and let the pieces fall where they may. Only then, can the LPOC rebuild, once the people decide who to send back and who to toss…all arguments should end. And, yes, Mr. Dion will have to step down and allow a new leader to be chosen. Whether Mr. Dion is a nice man or not, has nothing to do with this. I believe he is a nice man. However, I don’t see a leader of a political party there, nor a leader of this country. If he has this much trouble getting respect from his own MPs, imagine him trying to deal with the whole country! I think he probably made a great MP, a good Cab. Minister and an excellent professor. I think in all honesty everyone sees and knows that.
On the other hand, as a CPC member, maybe Mr. Dion should stay right where he is….
Just my two cents. Leasa
Savings plan shadow of capital gains pledge
Jacqueline Thorpe, Financial Post Published: Tuesday, February 26, 2008
http://www.financialpost.com/story.html?id=336114
*****
But analysts said the TFSA is a pale imitation of the capital gains rollover plan the Conservatives were selling in their election platform two years ago and is only a small step forward in helping an ageing population to save for the great wave of retirements that lie ahead.
The Conservatives had proposed investors be allowed to roll over capital gains on everything from stocks to property — including cottages — as long as they reinvested the proceeds.
The move was touted as a way to reinvigorate the economy by prompting people to invest in new growth areas without worrying about triggering a capital gain.
“It doesn’t do anything for people who have capital gains today,” Mr. Pela said. In the United States , for example, capital gains on investment real estate is tax exempt as long as the proceeds are reinvested.
“It would have created liquidity in the marketplace,” Mr. Pela said. The same goes for Canadians who have built up large capital gains on individual stocks.
*****
While the government announced last October it would slash corporate income tax rate to 15% by 2012 from 19.5%, individual investors will be making up some of that lost revenue.
The average rate investors will pay on dividend income at the top marginal tax rate of 46% will rise to 25.3% by 2012 from 18.5% in 2008.
*****
In other words, Flaherty is paying for the corporate tax cuts by raising the dividend tax rate to individual investors.
*****
By Geoffrey L. on 02.27.08 10:39 am quotes a “Finance” official, “Where can you invest $5,000 a year. It does not even buy 100 shares of decapitated CIBC.”
(1) Equities as an investment class historically returned about 11% through the 20th century. Read one of David Swensen’s book for insights on how to allocate assets across different asset classes to optimize returns, given needed payouts and risk. You can get a self-directed brokerage account and need not trade through a broker.
(2) My emerging market equity index fund performed well last year (about 12%). My investment was well-below $5K.
By Oscar on 02.27.08 12:10 pm
You missed the point, you can’t even buy a board lot of Bank of Commerce with $5000, how are you planning allocating assets across different asset classes to optimize returns, given needed payouts and risk with $5000?
As far as buying a mutual fund good luck with currency risk, MER and political risk.
I’ve got visions of the early 1980’s dancing in my head.
By Drew on 02.27.08 12:09 pm
Not being involved in the CWB issue, I have not followed it. Personally, I think it is a good concept, but some do not.
As to the ’80’s, I will say this. The ’80’s were the result of horribly stupid loans made for decades in an attempt to ‘buy’ friends by the U.S. government. The crash was due solely to the Federal Reserve of Paul Volcker.
This go round will be even worse because all the so-called equity people thought they had built up since then will be erased.
Personally, I suspect there will be some rather very nasty riots, and violence when things finally become real in people’s minds.
Canada will not be exempt.
I know this Boomer surely has not forgotten.
Dividend Taxes are Going up
February 27th, 2008
Since the budget contains at least a half dozen economic ideas that the Conservatives stole from the Liberals I can understand why it is difficult to vote against it…in essence you would be voting against your own policies. Unfortunately the of funding for these initiatives was dismal since the Conservatives already blew our huge budget surplus on ill-advised GST cuts. Well…the upside of all of this is that there is a lot of dirty laundry that may be out in the open soon…the Elections Canada investigation of alleged wrong doing by the Conservatives with election funding in 2006, the OPP investigation of John Baird meddling in the Ottawa mayoral race, a wrongful dismissal case launched by Kean etc. etc. etc. Let’s hope there is an opportune moment to nuke these lamebrains sometime soon in 2008
By Chris on 02.27.08 12:40 pm
I would have supported this budget as a Liberal MP. I wouldn’t have supported the mini October budget, however. The true damage the New Cons have done was in the Oct. mini budget. What I didn’t like in the Oct budget was the cut to corporate taxes by a point and an personal income tax cut to the rich in the face of a U.S. economic downturn, perhaps disaster.
Who doesn’t like lower taxes, right? Problem is, GDP is projected by the New Cons to be 1.7% this year and that is a stretch to the imagination to believe that the Canadian economy can grow with the U.S. facing a currency crisis and an ugly recession coupled with over 76% of Canada’s trade going to the U.S..
Further, I don’t support the current mission in Afghanistan. This war is a resource war, not a war on terrorism. The media has misrepresented it in North America much to the benefit of U.S. multinationals. There is a moral high road to take on stopping the flow of poppy production in Afghanistan, but the CIA has no interest in stopping the flow of drugs from Afghanistan. The mission has to change and since its not about to regardless of who becomes president, Canada should pull out or at the very least, pull out of combat from the South of Afghanistan. If NATO is to be used as an instrument for resource wars, it would be worth considering pulling out of NATO as well.
Clearly, the U.S. has backed the Northern Alliance of Afghanistan fuelling a long civil war between the southern Pashtuns and the Northern alliance. This isn’t a war on terror. Its about breaking the stronghold of a nationalist governments nationalized resources.
People need to understand just what Freedom and democracy means. It means globalization, or the introduction of international markets in nationalist nations to denationalize resources… or else. Some democratic choice presented, all right.
While the merits of capitalism (globalization) can be argued for or against in terms of trade and standard of living, everything revolves around ownership. Clearly, we have ultra wealthy CEO/shareholders of mulinationals dictating U.S. foreign policy over the last 5 decades mainly from oil and defense corps and most of it has led to wars, coups and sanctions against nations who refuse to allow foreign investment/ownership of resources.
War has been and always will be about the money. The only exception I can think of is Hitlers lust for power/facism that briefly trumped money as the primary motive for war and even so, U.S. war profiteers supporting Nazi Germany with resources until 42′ are well known.
Why are Liberals so anti american according to New Cons? The conservative estimate of 6 million deaths directly related to U.S. foreign policy over the last 40 years might just have something to do with it (some say its more like 10 million). Or maybe its the many mountains of lies they tell their own people to go to war or cover up wars or spend 14% of their GDP on average for national defense in times of peace.
U.S. foreign policy has been one of increased economic ownership of all nations, not just Canada but Canadians specifically are highly vulnerable to U.S. ownership of natural resources due to Canadian governments who have time after time, refused to acknowledge the major losses of revenue foreign investment brings both from lost tax dollars and lost jobs. But it runs deeper than this.
Some Canadians clearly want a quick buck on sellouts. Others are highly misinformed from propaganda, 15% of the population wouldn’t mind becoming U.S. citizens or don’t see much difference between the two nations if the truth be told (in some cases they are right with a New Con government in power) and a final 15% who is well aware of what the U.S. is capable of with their war machine are legitimately intimidated by fighting back in the area of market share of our economic sectors.
Whatever the reasons, Canadians have to live with the consequences of turning the other way from the naked truth that U.S. foreign policy is self serving, corrupt and ugly compared to what could have been. Its one thing to laud the benefits of capitalism, increased trade and wealthier lifestyles. Its quite another to tell the world it must be so or else…
Its funny how New Cons conveniently forget the many millions of dead civilians created by America’s lust for a so called wealthier way of life.
Hey Garth…as far as the $5000 savings accounts go…I’m leaning toward GIC’s tied into stock indexes (TD has a couple of these)…no downside risk and up to 70% to 100% upside appreciate depending on which indexed GIC is purchased.
By Drew on 02.27.08 12:09 pm
“Times are gonna be harder, and very soon.”
I couldn’t agree more.
I’ve got visions of the early 1980’s dancing in my head.
…………………………………
What about the early 1990’s:
Ontario Premier Robert K. Rae – New Democrat – October 1990 to June 1995
… when now-Liberal BobRae guided Ontario through those ‘hard times’.??
A PM Stephane Dion would have the wonderful advice of consigliary BobRae to save Canada and all Canadians as the US economy tanks and sucks Canada down the crapper .. and a President Obama/Hillary dismantle NAFTA as they have promised to do within 6 months of being elected.
We all know that sociology professor Dr. Dion’s forte is NOT economics .. whereas BobRae has eminent experience in the field as demonstrated by extricating the province of Ontario from the 1990s recession.
A winning team …. Dion/Rae .. or is it Rae/Dion .. or maybe Ignatieff/Ignatieff … ??!!
I can’t believe how pathetic and cowardly the Liberal Party has become (or has it always been this way, but having their bellies full from overfeeding in the trough, we may not have noticed that the size of their girth did not include a backbone?)
I have mostly voted Liberal, but having been so disillusioned by the scattershot Martin Government, I voted Green for the first time (and I was truly encouraged and heartened by Stéphane Dion’s support of Elizabeth May, so I still have the option of at least one Party leader to believe in). Even though Harper came to power on votes such as mine, the Liberal Party was entirely undeserving of my vote. It is a pattern they seem intent on repeating.
I have become a Liberal Party member because I believe in Stéphane Dion. So has my spouse, after being forced to watch the leadership convention because I would not budge from it, this totally apolitical person truly believes in Stéphane Dion, still does. Thank God she doesn’t follow the news, because she would probably be almost as disgusted by the party as I am. I can’t believe how the members of the party have the media on speed dial, these traitorous leakers need to be purged ASAP. Period.
I also can’t believe that with last fall’s close call and Stéphane Dion having to shoulder so much criticism to buy time, campaign leaders STILL aren’t ready?!!? Are you freaking kidding me?!!? Fire them now, and then hire someone competent and able to get the job done. It is now months later and the fact that the Party is nowhere near ready is an absolute embarrassment. This kind of ineptness would be funny if the stakes weren’t so high. This is downright pathetic, all Liberal members should be ashamed, Stéphane Dion particularly included. I believe he can be a great leader, but continuously being stabbed in the back by his own Party is starting to weigh heavily against him. He should start firing some people now, because the more he lets this kind of thing happen, those abhorrent and misleading “not a leader” ads actually become truthful.
I can only hope for two things:
1 – That Stéphane Dion just says “to hell with you all, I’m outta here!” That way I can immediately stop sending a monthly donation (although not much, I can’t afford much but I want to support Stéphane Dion), then spit on my membership and mail it back so the Liberal Party can shove it up its cowardly backside. My spouse and I will also be able to rescind our offer to volunteer in the next campaign as well. (Being Stéphane Dion and Liberal supporters in Quebec is no easy task, might I remind you). As it stands, unless the Liberal Party leadership stands up to the cowards and leakers running the party now, it will not be standing steady on its own two feet anytime soon.
2 – That the Liberal members remember who is the ELECTED leader, and start acting like responsible adults and stop feeding the media their innermost discussions. Shame on you Liberal Party, you don’t deserve anymore support. Stéphane Dion does, but the cowards running the party from under Bob Rae’s skirt deserve no such support.
Grow a pair for cryin out loud! The Liberal Party has a great man at the helm, but too many traitors among it to actually be relevant.
I am giving the Party just a little more time, then I will most probably tear up my membership and walk away from the Party forever (because I just don’t believe in the Party anymore, it has not given me any reason to). However, I will always believe in Stéphane Dion.
Yours truly,
Kevin Tremblay
HOLLOWING OUT
Corporate Canada easy prey for foreign buyers
JANET MCFARLAND
February 27, 2008
http://www.theglobeandmail.com/servlet/story/LAC.20080227.RHOLLOW27/TPStory/Business
It’s extremely disappointing to see the Liberals still so divided!
It used to be Harper who was making Dion out to be a poor leader. Now, it’s his own party members.
All those crying for Dion to step down as leader do not see the bigger picture here. I don’t think any human being could unite the liberals right now.
Who are we supposed to vote for? We don’t want Harper because he’s too controlling & dictatorial but on the other hand Dion can’t seem to make up his own mind & look like he’s leading the party.
Need all your help to keep Canada free and strong!
Demand Democratic TV Debates!
http://demanddemocraticdebates.ca/petition.html
You can really help, right now, by signing the Demand Democratic Debates petition. By signing today, a message will automatically go to the members of the television network consortium who ultimately determine who will be included in a televised leaders’ debate.
WE THE PEOPLE WHAT TO DECIDE WHO WE ARE TO VOTE FOR! We want to here from all
large parties at the TV debates!, including the Greens.
We the people are suppose to decide who the next Government of Canada is!
NOT the CORPORATE RUN MEDIA!!!!
It is ‘YOUR’ IMPORTANT VOTE!
Don’t you want to be informed?
You are a critical-thinker!
You can make up your own mind can you!
Don’t you want to here from all sides first?
Most people get there info. from the TV
and the Corporations know it!
Who is running the show, WE THE PEOPLE or the Corporate elet with money/power?
Why do people with lots of money think there can plan better for everyones long term best interest, or are they just best at planing for there own best interest, screw you???
Demand Democratic TV Debates!
Sign today!
It will only take a moment of your time and it will provide a meaningful push for free and democratic debate in Canada!
http://demanddemocraticdebates.ca/petition.html
Also, Tell ALL the Parties and there Leaders, you will never vote for a party who’s leader takes part in unfair debates the discriminates other main parties!!! They have a choise to take part or not. Or are there grand words hollow?
Do there words of free and fair debate have any real meaning to then? How can you trust anything they say if they participate in a so-called free debate that discriminates against other parties ideas. What are they afraid of?
If we can’t here the ideas, how will we find the best ones to help us through the furure? Do you have kids?
It’s suppose to be the peoples electing
the Next Government, NOT the Corporate media manipulating the who we vote for!
Tell the Party Leaders!
For List of federal political parties in Canada
http://en.wikipedia.org/wiki/List_of_federal_political_parties_in_Canada
As Flaherty states repeatedly, this tax-free savings account is “forward looking.”
In other words, the $5000 limit can be increased simply with a motion in the future. I’m sure both Cons and Libs would approve it,
going forward 
With a few bumps and grinds and a majority govt., this plan will be your all-inclusive capital gains hidy hole in no time to shelter hunderds of thousands of “savings”.
As far as buying a mutual fund good luck with currency risk, MER and political risk.
By Geoffrey L. on 02.27.08 1:43 pm
Geoffrey – can’t you see this $5K as part of a broader range of assets – which you work to diversify yourself? You don’t need to diversify the $5K across all asset classes – just have this $5K as part of your overall diversification.
As far as mutual funds go – by an exchange traded fund.
Political risk and currency risk need to be managed – and mitigated across one’s entire portfolio – not this $5K.
Mr Garth TurnerMP,
I just signed the Demand Democratic TV Debates petition.
http://demanddemocraticdebates.ca/petition.html
Here are the comments I added to the
petition below,
WE THE PEOPLE, need to be able to here all ideas on how we may best make our Country better in the future for us all. As you know most people now get there information form TV.
So to discriminate against any main party in Canada is
AN ASSULT ON REASON! I want the debates to be free and fair. To do otherwise you are only decieving yourselfs. Potentaly robbing your kids and all other human beings form a chance at the best future possible.
A few persons in your Corporations do not have the manopoly on good ideas and critical-thinking. We the people demand a free and fair debate on IDEAS in the next Canadian Leaders debates! Do it because it’s right, do it for your kids!
By Oscar on 02.27.08 12:03 pm
Interest on borrowing for a TFSA would not be tax deductable.
Ninety percent of the Iceberg still not visible.
Spiking oil
Oil prices are back around $100 per barrel, sending inflation-related shivers through the economy. Several analysts say they expect prices to temper somewhat in the near term, but prices will remain high.
TODAY
Credit market troubles will likely weigh on quarterly results from a big U.S. insurer, while a pork producer is expected to take a hit from rising hog feed costs.
NEW YORK (AP) – Shares of Nortel Networks Corp. (nyse: NT – news – people ) tumbled Wednesday after the Canadian telecommunications equipment maker posted weak fourth-quarter results, falling short of expectations in what it called a “challenging environment.” Nortel said it will cut 2,100 jobs and shift 1,000 more to “higher growth and lower cost geographies” after fourth quarter results fell short of Wall Street expectations. Revenue in the fourth quarter of $3.2 billion was down 4% year over year. Full year 2007 revenue was $10.95 billion, also down 4%.
WHERE IS THE MONEY FOR HEALTH CARE?????? WTF!!!!!! MISTER “WAIT TIMES GUARANTEE” ONCE AGAIN FAILS TO DELIVER….HEALTH CARE!! HEALTH CARE!!! HEALTH CARE!!! C’MON CON ROBOTS, ANY INTERESTING SPIN TO PUT ON THE FACT THAT THERE IS NO HEALTH CARE MONEY HERE….
FYI:
This Week on Quirks & Quarks: CBC Radio
Sat. at 12:10pm-1pm
http://www.cbc.ca/quirks/
Global Warming – the last time around.
The changes we’re making to our climate are much greater than anything that’s happened in human history, but we have had episodes of warming before. In fact, we had a centuries-long preview of climate changeduring the Medieval Era. This week, we speak to anthropologist andhistorian Brian Fagan about his new book “The Great Warming”. In it, hedescribes how that period of global warming changed the course of humanhistory, bringing balmy temperatures and bountiful harvests to some, butdevastating whole societies with drought and famine.
The CONS only talk about this “amazing” savings account, but fail to utter a peep about health care….c’mon robots, an answer please….Where is that wait times guarantee, and 125000 child care spaces???? Nothing?? I thought so….These Cons are so un-Canadian, I can’t understand how they are still in power…
And don’t rty to use the excuse about it being a provincial matter…I noticed that 65% of my income tax goes to the feds….So I want some of that money into health care…But of course Harper wants to privatize health care (just like he said when he was leader of the NCC), and now he starves the system for one more year, so that he can accomplish his goals….
Flaherty fails to deliver Pundits pan savings scheme, say it won’t help poor
Steve Arnold—Spectator—February 27, 2008
http://www.thespec.com/article/331184
Reading some of the comments it seems some people want only the party leader to make decisions. Democracy, real democracy, is where all the MP’s speak and vote for the good of the country, and their constituents.
Otherwise, we might as save all those salaries and just have the leaders showup and decide?
Currently, that means we could eliminate 304 seats in the HoC! What a nice oligarchy that would be, eh?
By James- Chatham on 02.27.08 11:11 am
So Hillary and Barack want to renegotiate NAFTA.
Good.
Treaties like these need to be reviewed every so often. NAFTA was negotiated under a different economic climate. And Obama has it right when he says it must protect the environment and workers safety. I hope this is not speak for lowing standards.
Of course the US. will want it to favour them. But, having seen how the US. has chosen to selectively ignore NAFTA when its suits them, I would suggest any changes the US. wants should be conditional on one thing. The Federal Trade Commission, the one that keeps ignoring NAFTA and WTO rules and imposses illegal tarrifs just because some US. lobby group has the dollars to become a squeaky wheel, must be put out of business when it comes to trade within North American.
…………………………………
So I gather you don’t think that the US Democratic party led by either a president Obama or Clinton are Canadian public enemies #1 and #2 ..!!!
Don’t you think Ontario manufacturing and Quebec forestry industies would disagree with your take on NAFTA??
Perhaps you would be happier if David Orchard was brought in and highly profiled within the Liberal Big Tent party to lead the way with Liberal support of the Democratic party …!!!!
Ideally, I would contribute 18% of last years income to my RRSP first. This has to come out of after tax income for me to make the contribution. Someone making $50,000 can contribute $9,000. Unfortunately, with payroll taxes, EI, etc. this is difficult to do. It is better to contribute $9,000 to get a tax break for all the taxes that were sucked out of your payroll in 2007. Then you have to come up with an additional $5,000 that you can’t write off your current years taxes? I suppose you could withdraw $5,000 out of a margin account to write off the interest, but unfortunately my margin account is down $30,000 or so due to Flaherty’s income trust tax. By the way, I had exchange traded income trust funds that Harper promised to never double tax!
Hey PYOTR .. !!!!
Where is our erudite, defender of the Liberal Good .. PP-boy, today ??? He has posted only one feeble and niggardly message which was devoid of his usual zest, zilliness, and littered with html tags ..!!!
Our fine forum desperately needs his enlightenment particularly when his beloved Liberal party is in such dire straits .. and Dion is keeping his public appearances to a minimum (presumably putting out caucus fires and blunting knives).
Perhaps petulant PP-boy is studiously studying the Dion-supported Harper Budget, hoping to find a fault or discover a deficiency that will damn the Conservatives for their pyrrhic victory.
Perhaps he is experiencing a metamorphosis .. a transitional condition, migrating from big Effin’ Dummy to squishy mannequin.
Perhaps he is viewing Rick Mercers soul-rap video highlighting Dion and the Liberal party … entitled “We’re adaptable” … and contemplating political hara kiri …!!!
Come back PYOTR … Come Back ..!!!!
A winning team …. Dion/Rae .. or is it Rae/Dion .. or maybe Ignatieff/Ignatieff … ??!!
By Harry S on 02.27.08 2:02 pm
Why don’t you go shine your crystal ball Alice? Let us know what you find out.
Banish the bags: The amazing picture of 2lb of plastic poison found in whale’s stomach
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=519832&in_page_id=1770
Citibank had outstanding notional Credit Derivatives of 3 Trillion, J.P. Morgan has 7.8 Trillion.
Numbers That Do Not Add Up
http://www.financialsense.com/fsu/editorials/kirby/2008/0215.html
Garth: Just wanted to point out the contradiction in Flaherty’s “tax policy”.
Stimulate the economy (i.e. encourage people to spend more money) by cutting the GST, then do the exact opposite by introducing the $5,000 a year “tax free” savings account. The latter has a “de-stimulating” effect because it encourages people to spend LESS by saving more. In fact, it has a huge “de-stimulating” effect because it is encouraging people to NOT SPEND $5,000 a year! If widely followed, this tax measure alone could put the country into recession.
It is also a very inefficient way to deliver a tiny tax cut. I estimate that the average person who takes full advantage of this (i.e. puts $5,000 a year in an account earning 4%) might save $60 a year in taxes (probably less b/c the highest rate I’ve seen is 3.65%). To take advantage of this tax savings, the individual has to open a new account, do a bunch of paper work, get various tax forms from the bank and submit same to revenue Canada. Revenue Canada then has to implement a whole slew of systems (at tax payers expense) to deal with the new tax savings system. I’m not sure, but it could cost the economy hundreds of millions (billions?) just to set up an interest savings system parrallel to the RRSP system. That’s a huge “transactional cost” to pay for a tiny tax savings.
An identical tax savings could be generated simply by raising the basic minimum deduction by $200 to $300 – with absolutely no additional “transactional costs”.
It seems that this “tax cut” is another example of how neoCONs will spend a billion to save a million.
Not that it matters which party is in power because none of them represent their constituents, only their parties, but I wouldn’t want to be holding the reins of power when NAFTA is flushed down the toilet…if we think manufacturing is having a hard time now, we ain’t seen nothing yet!
The only good side of this is that maybe enough Canadians will wake up and realize they have no representation in Ottawa to effect a change in the way we do politics in Canada..I sure hope so because what we have now is pathetic.
By Nelsin on 02.27.08 2:50 pm
And don’t try to use the excuse about it being a provincial matter…I noticed that 65% of my income tax goes to the feds….So I want some of that money into health care…But of course Harper wants to privatize health care (just like he said when he was leader of the NCC), and now he starves the system for one more year, so that he can accomplish his goals….
……………………………………………..
But that’s the beauty of a Harper majority Conservative government …. federal taxation will be reduced as Harper reduced the size of the Liberal-bloated federal government. The provinces will be able to increase their taxation to provide their citizens with all the socialistic bells and whistles like healthcare, dentalcare and pharmacare too.
Just look at Manitoba with the Doer NDP government where they have pharmacare even though the are a have-not province. How can they do that ???
What you must understand is that the Harper minority government is hamstrung by the devious opposition, and he cannot reduce the bloated federal government so that your federal taxation can be lowered even more.
I don’t mean to be cynical or uncaring … but sick people and poor people don’t seem to turn up to vote .. I wonder why ???
Are you sick or poor or both ..??
Remember Canada’s Walkerton!
Can Canada some how help the people to find a quit fix to provent unneeded sickness and deaths from this shortage.
Gaza out of chlorine to purify water because of Israel blockade.
http://ap.google.com/article/ALeqM5jELTFP9YRQsjCR7YyfKap-jwy6uQD8V2Q7IG0
I have not commented on the budget. I’m still digesting it all. From what I have read its only going to benefit big oil, those who are middle to higher income, but not those who are living hand to mouth & little for manufacturing or forestry. No surpise from this govt. They’ve already emptied Mother Hubbard’s cupboard last Oct.
We’ve already rec’d an email from our FP. A few years back he started moving our RRSP accounts to non RRSP ones so we wouldn’t get hit with taxes. We, naively, or not, borrowed money, not because we didn’t have it, but because we had been convinced by he, and articles that I had read, to use other people’s money (sound familiar Garth?). True, we write of the interest. But, we really don’t feel comfortable at our ages considering the the current market. We’re now paying it off at $1k a month. To many knowledgeable investors we’re probably stupid, but we like to sleep at night. Because of our ages, he’s going to change our portfolio. Yes, we’ll probably be able to benefit from the $5K that we can investt each year because we earn much more than we spend. I personally would rather that lower income earners benefit. My DH has a different POV. We got shafted 20+ years ago when we owned a condo and took them to court so he says screw those who are so ignorant that they cannot see they are being screwed. On one hand I understand his position. But, on the other hand I stympathise with them. We still have arguments when I donate to charitable organizations. I believe in helping those less fortunate. I know he would never vote for the CRAP party, but considering how he grew up, I’m disappointed with his attitude.
Thats my rant, so I’ll say Bon Soir.
(remeber who invaded who. Who are now the occupiers. Who are resisting.)
Bush says “a lot of innocent people have died in Iraq,” then says he’s amazed Iraqis “tolerate” this level of violence. (video >2min.)
http://bravenewfilms.org/blog/30735-bush-a-lot-of-innocent-people-have-died-in-iraq
“Marijuana prohibition has done far more harm to far more people than marijuana ever could.” William F. Buckley, Jr. (Nov 24, 1925 – Feb 27, 2008)
http://www.nytimes.com/2008/02/27/business/media/27cnd-buckley.html?bb
Leasa,
your 1:30 PM “two cents” is just Death Star wishful thinking trooped by a troll.
Here is your two cents change back.
And one more bash -
If the polls are the explanation for Liberal inaction on the election front, has the LPC considered that these polls reflect voter approval, AND IF THEY DID SOMETHING, THEIR VOTER APPROVAL MIGHT RISE to actionable levels?
And a big thank you to Garth -
Did a rough cut on my 2007 taxes this afternoon, and pension income splitting with the wife is saving us thousands.
Your idea, your push behind it, our gratitude.
By Elias on 02.27.08 3:56 pm
Its a tax dodge, Elias that will encourage people to save. The reason for introducing it, however, is far darker than people are led to believe. The same liquidity crisis that is happening in the U.S. is about to happen here. One way of stopping it, is to create 12 billion in savings spread throughout Canada’s banks to help our chartered banks avoid the severity of such a crunch. Garth himself has stated this as a benefit to the system as a whole when Garth first suggested it to Flarethy 2 years ago.
The problem however, is partly what you state… less money will circulate in spending which won’t help the economy in tough times, but perhaps more importantly so, this program is estimated to cost 3 billion annually. As expensive as this program might cost (and note, its a year away), this program might be hard not to impliment due to RRSP’s being a bad investment with an economy on its way down. RRSP’s won’t look attractive until about 2 years from now, meaning it looks better to impliment this program today than to even wait a year, but then… the Cons have cut tax revenues too much and they know it. the New Cons October mini budget GST cut, corporate tax cut by a full percentage point and the personal income tax cuts to the rich and tax cuts to low wage earners originally introduced by the Libs and cancelled by the New Cons to reintroduce and call their own, were too much at once in the face of an oncoming U.S. currency crisis/recession.
Facts are, Flarehty/Harper are all thumbs up today, but no one will be laughing 6 months from now as the hard numbers turn negative.
http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080226/budget_taxes_080226?s_name=&no_ads=
What you must understand is that the Harper minority government is hamstrung by the devious opposition, and he cannot reduce the bloated federal government so that your federal taxation can be lowered even more.
I don’t mean to be cynical or uncaring … but sick people and poor people don’t seem to turn up to vote .. I wonder why ???
Are you sick or poor or both ..??
By Harry S on 02.27.08 4:10 pm
Neither this present government nor the last one were hamstung by anything other than their greed for power, they use our tax money to buy our votes, you wonder why the sick and poor don’t vote, basically because they are very aware they are being shafted by the Cons & the Libs….and they know no matter who they vote for, nothing will change, so they figure, what’s the point!
By Greg W., Oakville on 02.27.08 4:31 pm
Just watched it. How many more lies will GWB tell before he’s finally done as president…
By pjw on 02.27.08 4:02 pm,
Clinton and Obama are right: NAFTA does need to be reviewed and potentially revised to meet the changing needs of the partners. There are elements of the treaty that undermine the democracy.
Announcing: Jim Had His Chance.ca
Now that we have that budget thingy out of the way, we can get down to…..
http://caiti-online.blogspot.com/2008/02/jim-had-his-chanceca.html
Elias on 02.27.08 3:56 pm,
New Conservative ideology puts capital for investment (production)over consumption. It may not make sense to some of us but it is based on the theory of “make it and they will buy” by creating wants through marketing and fueling growth. It is based on the assumption that economic growth (based on production) is sustainable indefinately. This is why environmentalism is such a problem for the “true believers.”
As a longtime, partisan Liberal supporter, all this is troubling to me. We’re way past the correct election date, and if my eyebrows are raising on this, then I have fear. If I am feeling this, then no doubt a less partisan Liberal supporter is waivering. I repeat, I HAVE FEAR.
Dion should have brought the government down last Fall IMHO, but to let this budget pass is unfreakingbelieveable.
Greg W.,
sorry to learn of William F. Buckley’s passing from your link. There was a conservative I always liked, even when I disagreed sharply.
Wouldn’t it be nice if neo-cons and neo-Cons, not to mention our Troll Patrol, emulated him and introduced substance and style into their political efforts?
Harry S – Glad to see that the robots still manage to spin..You didn’t answermy question though…Why no money for health care????
And as for your provincial statemenst….You are the type of CON hypocrit, that will say that the provinces should raise their PST by 2%, then come on these same blogs after, and attack the prov. gov’t taht does it….Thats exactly what you wat isn’t it Harry??
ex. Would you be lavishing praise on McGuinty if he raised the PST as you suggest??? I don’t believe it for one minute…
NO MONEY FOR HEALTH CARE, AND THIS WA STILL THE LARGEST SPEDNING BUDGET IN CANADIAN HISTORY!!!!! WHERE ARE THESE BONEHEADS SPENDING OUR MONEY????
Looks like the Natives are restless Garth.
Is that the sound of distant drums I hear? Or is it just the feet of countless ex supporters marching to Greener pastures?
Looks like our natives are going to be restless!
Fontaine warns of Indian protests
Canada’s top chief is warning that another summer of protest and potential disruption will follow a federal budget that all but ignored grinding poverty.
A furious Phil Fontaine said today that plans for a national day of action have been stepped up after this week’s Conservative spending blueprint offered little for First Nations.
“It is not responsible to spend billions of dollars to rebuild Afghanistan while ignoring the poverty of First Nations here at home,” he said.
I could not agree MORE! We should all join in!
By C. B. Innes on 02.27.08 4:57 pm
I totally agree. First thing to go is the cheap Alberta Oil deal.
NAFTA = Not Another Frigging Trade Agreement!
Just watched it. How many more lies will GWB tell before he’s finally done as president…
By brain on 02.27.08 4:53 pm
How many minutes, hours, days, weeks, months are their left? Divide by 7.8 seconds
First a joke, and it’s not CRAP’s budget yesterday, neither is it naughty.
St. Peter’s Computer Down at the Pearly Gates.
St. Peter said, ‘I’d like to get you guys in now, but our computer’s’ down. You’ll have to go back to earth for about a week, but you can’t go back as Priests. What’ll it be?’
The first priest says, ‘I’ve always wanted to be an eagle soaring above the Rocky mountains.’
‘So be it,’ says St. Peter, and off flies the first priest.
The second priest mulls this over for a moment and asks, ‘Will any of this week count, St. Peter?’
‘No, I told you the computer’s down. There’s no way we can keep track of what you’re doing.’
‘In that case,’ says the second priest, ‘I’ve always wanted to be a stud.’
‘So be it’ says St. Peter, and the second priest disappears.
A week goes by, the computer is fixed, and the Lord tells St. Peter to recall the two priests. ‘Will you have any trouble locating them?’, He asks.
‘The first one should be easy,’ says St. Peter. ‘He’s somewhere over the Rockies, flying with the eagles…..but the second one could prove to be
more difficult’
‘Why?’ asketh the Lord.
‘Cuz he’s on a snow tire, somewhere in Eastern Canada.”
—————————————————————————-
Kinda cute, jes’ like moi!
It’s quite clear that CRAP does know exactly what it is doing, and one can see why the eventual integration of CANAMEX may happen a lot sooner than anyone thinks, unless steps are taken here to prevent us from becoming a part of it.
The last three budgets haven’t had anything to do with Cdns. at all; it’s been about increasing spending and deficits, getting cozy with the US and Mexico, because countries now realize that there are more options to choose from than North America.
This is where Mark Carney, the NAU, SPP, and Amero comes in; combined with the constant bitching and whining about NAFTA — well, what America wants, America gets.
Another country which plays an unseen role in this is Israel. Most of Iraq’s oil flows their way, and the US Congress usually okays around 30-50 bln. in “aid”. So Israel lives on Easy Street — they have a flow of oil from one country, and an endless supply of money from another.
Some time ago, I mentioned a report which stated that one of the reasons for the American invasion of Iraq (by way of Af’stan) was because Sadaam was about to switch to the Euro for oil and gas trading. Sadaam is no longer here.
When dubya stood on an aircraft carrier deck and said “mission accomplished”, the troops should have packed up and gone home. After all, everything was cut and dried, n’est-ce pas? The troops are still there. Why? For what reason, or reasons?
I understand today (Feb. 27) is when Iran officially opens their Bourse, eliminating the greenback slowly and switching completely to the Euro.
So Iran has achieved what Iraq couldn’t, because Iran KNOWS it has Russia’s and China’s backing. No doubt there will be lots of grandiose statements and useless, cheap talk, but some questions remain:
Who will blink first? Who is going to take that first shot? What will happen to the ordinary citizen, the one who just lost his / her job (see Nortel today), the worldwise food shortages?
Beyond dubya and other so-called puppets, someone else is pulling their strings — they simply pass their leaders’ message on.
Houston, we have a problem!
On the one hand, we read words like these:
“The Liberal caucus met for some time last night to sift through the rubble of Jim Flaherty’s dismal budget. There were, to put it mildly, many concerns. I voiced mine. Chief among them is the palpable worry that the finance minister has once again misread the economic indicators and is vastly underestimating the severity of the US downturn.” –Garth.
On the other hand, we read that those same Liberals do not plan to vote against this budget. It is a simple matter of integrity and transparency that is at stake here.
It is actions that speak louder than words. We have been fed this line for a year now, but still, at the end of the day, nothing is done to oust this government that has been called corrupt, evil and intolerable.
We were told for a month now, “Wait and see what is in the budget. THEN, and only then, we will decide.”
Yet, as soon as the budget was announced, there was an immediate decision to support it. It would seem that it could barely have been studied, so there must have been a decision in advance not to bring down the government over it.
Yet we were told, “Wait and see what will be in the budget before we make a decision.”
The “decision” is again not clear, not forthright, and not without mixed signals that are confusing logic that would match words with actions.
Houston, we have a problem!
Monsieur Dion dismissed yesterday’s 2008 federal budgete as “modest” when it comes to novel measures. To me, this is a selling point.
Like other Canadians, we have learned to be wary of the sort of grand social engineering projects of which Monsieur Dion and his Liberal confreres are so fond.
The least that can be said about the Minister’s budget is tht it has not given us any grand scheme aimed at, say, “ending poverty,” or taking over Canada’s child-care industry.
That would be an unrealistic vision that Monsieur Dion dances around.
One gains the distinct impression, that there are those who are hoping for a recession in Canada (perhaps a self-fulfilling prophecy?) so that we can blame a possible recession on the CON government rather than on the U. S. economy much like R. B. Bennet got blamed for the Depression during the election of 1935, a Depression that was triggered by the international situation at the time.
Then, hopefully, will be the time to throw the CONS out, even as they were in 1935 over a Depression that they did not create.
Even Manitoba NDP Premier Gary Doer called this a good budget, and saw much that he could commend. Not so the prophets of doom and gloom on this blog.
This despite the fact that we live in times where unemployment is way down, corporate profits are at record highs, government coffers are full enough to considerably reduce the debt, Canadians are spending more money on new cars every year than on food, with HD TVs in most homes and chickens in most pots.
The investors are showing confidence. Today’s markets are UP.
The Liberals say that they don’t like it but will not vote against it.
In matching words with deeds, I have to repeat:
“Houston, we have a problem!”
By Greg W., Oakville on 02.27.08 4:37 pm
Interesting thought…
Particularly:
Since it is so hard to find a good job to replace those lost…
Since the value of home property is under attack….
Since there are no signs of assistance from the present government to the economy or to others whose lives have been torn apart by losses in the manufacturing sector…..
Perhaps decriminalization could allow us to turn our basements into grow-ops so we can afford to feed ourselves!!
(chuckle)
Great export opportunity to the USA under NAFTA, eh? Talk about stimulating industry!!!
(snort)
Garth!
this mean,I have too stop putting up the signs
While some complain that the budget didn’t include enough money for the poor, or for the natives, 20 million has been set aside for the Olympic torch relay! Is that not good news. Can’t we forget about the poor and homeless and have a great big party to the tune of Billions. The feds already have coughed up 25 mil for the opening ceramonies. That should be welcomed, should it not?
By pjw on 02.27.08 4:49 pm
Are you sick or poor or both ..??
By Harry S on 02.27.08 4:10 pm
………..
Neither this present government nor the last one were hamstung by anything other than their greed for power, they use our tax money to buy our votes, you wonder why the sick and poor don’t vote, basically because they are very aware they are being shafted by the Cons & the Libs….and they know no matter who they vote for, nothing will change, so they figure, what’s the point!
………………………………..
Very astute observation, pjw …. and I still remember when Ontario premier Mike Harris was heading into his second election and he had to decide between spending more money on hospitals which were closing down beds … or pave over the highways.
Harris decided to repave Ontario roads, particularly the 401 … and won the election … which goes to prove that there are more voters in cars on the roads than voters desperately needing hospital healthcare.
Poor, sick people just don’t vote .. and same goes for the 18-25 y.o. demographic who are too busy with sex, parties and their looks.. and think that politics sucks …!!!
So perhaps you Libber-Dipper lefties will now understand why Harper is giving out all the goodies to families where mom and dad will both get out to vote because the Conservative party has been so good to them.
Apologies for going off-topic, but I’m really astounded at the level the Conservatives stoop to in spreading misinformation and taking Canadians for idiots. Here is someone’s desciption of a flyer they got from their Conservative MP recently:
———————————–
It is on an 8.5 x 11 paper with no color. On the one side it shows a very nice picture of Prime Minister Stephen Harper and reads as follows: “With Conservatives you will keep your $1,200 per year child care benefit. Guaranteed.” Opposite that is a very bad picture of Stéphane Dion, which reads as follows: “Dion voted against the $1,200 child care benefit and will take it away.” Below these two photos it asks, what do you think? It then provides a small form to fill in as follows:
I want to:
Keep my child care benefit.
Lose my child care benefit.
You then fill in your contact details; name, address, City/Town, Province, Postal Code and Email and mail it postage free at the taxpayers expense to Lynne Yelich, MP.
————————————-
I guess Flaherty has this use of our tax dollars in his budget somewhere!!
Reminds me of those “You have been selected to win a million dollars” mailings, as it similarly seems aimed at the few people with borderline mental abilities. Do Conservative voters really respond to this type of approach or is it just that Harper-Flaherty think they do?
As food prices go up, so does fuel and it becomes a double whammy.
http://tinyurl.com/2k7gga
Beyond dubya and other so-called puppets, someone else is pulling their strings — they simply pass their leaders’ message on.
By Charles Oxley on 02.27.08 6:07 pm
ROFLMAO! Great joke! Thanks
As to the Puppet Masters Their name is Exxon-Mobil, and Haliburton.
Short but very interesting video on how individuals scheme and work things out to portray themselves as the victim, and what happens when they get caught.
http://tinyurl.com/23nbbl
Although I think that the TFSP has a lot of merits, this budget represents a colossal missed opportunity, perhaps the last opportunity we have wile times are good to address the looming economic and energy crisis.
Note the words of former Fed chief Alan Greenspan today:
Greenspan also said a boom in oil prices, which hit a record of $101.32 on Wednesday, will “go on forever” .
If by forever, he means that the next 10 years continue like the last 10, we’re talking $1,000/barrel oil by 2018.
And yet the Conservatives see fit to eliminate the program to offer tax incentives for efficient automobiles in their budget. It’s economic suicide.
Why aren’t the Liberals holding the CPC to account on this?
Ten years from now, middle class families in Canada will be unable to afford to drive anywhere near the extent they do today. Our car-addicted society faces change and dislocation like never before.
Global oil production shows no signs of ever increasing to the level needed to support future economic growth. Yet the government continues to fail to acknowledge the reality we face, and refuses to make even the smallest baby steps toward improving energy efficiency, while cancelling the steps they made previously.
Meanwhile the opposition meekly bides its time until the polls are right. It’s madness.
So perhaps you Libber-Dipper lefties will now understand why Harper is giving out all the goodies to families where mom and dad will both get out to vote because the Conservative party has been so good to them.
By Harry S on 02.27.08 6:46 pm
Don’t know any of those folks you are refering to above, only neighbours who seem to vote for either con or lib….my agenda is to get folks to reconsider that, yours is to alienate folks who might think of voting CPC by insulting them. You sometimes make some good points unfortunately overshadowed by the person you are portraying on here. I suspect you are a Liberal hack trying to make Cons look bad.
By Marc on 02.27.08 6:44 pm
While some complain that the budget didn’t include enough money for the poor, or for the natives, 20 million has been set aside for the Olympic torch relay! Is that not good news. Can’t we forget about the poor and homeless and have a great big party to the tune of Billions. The feds already have coughed up 25 mil for the opening ceramonies. That should be welcomed, should it not?
…………………………………
Marc … Have I told you where to stuff all that guilt-trip shlock over the ‘poor and the homeless’ and our poor poor aboriginals who cost the Canadian taxpayer ~$70,000 p.a. each .. together with all the sick and ailing who have no doctor and all the children and HIV sufferers in Africa and the women raped in Darfur .. and let’s not forget pets, gays, baby seals, polar bears and whales too … and of course ‘Global Heating’ all the fault of the Alberta oil sands and Canadians in general who drive SUVs …. ??!!!
By Catherine-also on 02.27.08 6:58 pm
copy of an email I have sent to a Mr. Ed Fast.
Hello Mr. Fast, I am writing to you regarding a mailer I received compliments of yourself. The mailer states “Dion voted against the $1,200 child care benefit and will take it away”.
I do not have any children so this does not effect myself nor my spouse in anyway currently. I would like to know what evidence you have that Mr. Hon. Dion will rescind the child care benefit, or am I only supposed to have your word for it? Had you used the word may in front of “take it away” I would have thought nothing of the mailer, but since you stated “will take it away”, you have an onus to prove the statement somehow. I look forward to your honest reply providing factual evidence to prove your statement.
Lets say I won’t be holding my breath waiting for his reply. How many similar mailers can a party send out using various M.P.s names on them?
Really any budget complaints from the LPC are almost…almost funny. Garth and company….If it’s not voted down by the Liberals, then you agree with it. If the budget stinks, vote NO! If it’s okay, vote yes!
This isn’t rocket science.
Can’t wait for the next act…I’m waiting to watch just how exactly the “Liberal team” is going to embarrass the rest of us who call ourselves Liberals (again). Just don’t abstain….that’s so last year. Steve V had a great post about a dramatic Liberal flu that’s about to sweep the Capital. Come On Team, get creative.
Today I cancelled my monthly chequemate donation, next it will be my vote.
The Unelected should not be Dion’s top advisors.
Garth, just wanted to let you know, because of you & your wonderful weblog,
I’m sticking with the Liberals, no matter what.
THANK YOU SO MUCH.
Wish I could vote for you, but I live in the wrong area, bummer!
LOL I stuff the CPC flyers back into the cluster box outgoing mail slot. What tripe they waste paper and ink on!
TO BRAIN
I listen to the Finance Minister deliver the budget. He stated that since the conservatives have been in government and by the end of this year they will have reduced the deficit by $37 billion. (His words not mine)
The rose coloured glasses comment came from Mr Turner. I was just quoting him from his post.
I guess my position on the war was not that far off. The Liberals have accepted the Conservative motion and dropped their 2009 demand. No one likes war but we must be realistic if there was not a need we would not have armies.
I stated in an earlier post that the budget would pass well before it was delivered. I also stated the motion on the war would pass. I will go on record to say we will be there beyond 2011.
I am not a Conservative. I have been a card carrying Liberal. I helped nominate the Liberal MP who now represents our riding. I have voted for the provincial PC’s, NDP and Liberals. If I like a person I vote for them to represent me.
So again Brain save the lectures. I have been there and have seen it all. I am not downplaying deficits. However, to quote P Trudeau. There is nothing wrong with running a deficit when times are tough. This is when the deficits started. I believe the first one was 17 billion and then were increased by the Mulroney government and it was eliminated by Martin/Chretan.
There is something very few people are aware of. $32 billion was taken from the surplus of the Armed Forces Pension plan of which we just lost a first level appeal. We are hoping to go to the next level.
We are joined in this law suit against the government by the RCMP and the Public Service as their pension plans were raided as well.
When the deficit was passed from Mulroney to Chretan it was $46 billion. When you take into consideration the surplus they took it did not take much to reduce the deficit. This raid was done while the Liberals were denying benefits to veterans and their spouses.
The present Conservative government is now addressing and extending benefits that were neglected by the Liberals inspite of our suplus.
For those asking about free vote – will Harper let his bobbleheads have a free vote – or Layton for that matter?
There never has been a free vote on a budget as long as I can remember and I can go back to the 50.’s. Budget votes have always been confidence votes and therefore have always been whipped votes by all parties. Those asking for a free votes are living in dream land.
By Catherine-also on 02.27.08 6:58 pm
Yes, I got one too! I thought it was from Mme. Hurtubise, Reader’s Digest Condensed Books. I ‘phoned her right away and she said you prize winners will STILL have to go through Ed McMahon. What a Pi$$eroo!
Funny thing, though. The longer we have, the more cluster bombs/bomblets we can prepare, which are entirely legal under elections canada with the proper subscriptions/participants. Hell, these FumDucks, won’t know what hit them when the time comes.
What a day.Do nothing Dion being mocked by CBC’s finest.Oh how the liberal brand is crumbling.Shaking his limp fist at PRIME MINISTER STEPHEN HARPER,then doing his usual run away quick routine.PRIME MINISTER STEPHEN HARPER is right in refering to the NDP as official opposition.At least they stand on their principles,unlike the sad pathetic liberal party.
That reminded me of a documentary I saw a while back, I think on CPAC, of the life of Libby Davis***. Wow. Who in their right mind would want to be an MP? She had many regrets, mainly of not having time for her son as he was growing up. An MP gives us so much, it is unreal.
By Leasa on 02.27.08 8:45 am
Geez, Leasa, I saw the same program.
The tears ran down my legs ..until…
NDP apologizes—again—for falsely smearing a political foe
Source: The Canadian Press— 02/18/08 9:52AM
http://news.aol.ca/article/ndp-apology-1st-writethru-bgt/106021/
***Libby Davies
By your definition, we should HONOUR lying buggers, Leasa. What would other people of your faith say?
If the Democrats get elected both Obama & Clinton are talking re reviewing free trade with Canada as many American businesses are claiming they’re losing big bucks buying Canadian goods!
Since Harper doesn’t appear to be travelling to other countries to encourage them to buy Canadian goods, I’ll bet he’s going to to ahead with his plans to trade off the loonie for the Amero. He has no intention of doing it in a transparent way.
The Liberals have to stop this guy before he does any more damage to our country.
Garth, what is your position on Robert Latimer getting parole?
The national parole board made a decision. I trust they know more about Mr. Latimer than you or I. — Garth
Comparison of the collapse of two dynasties: Soviet Union (SU) about two decades ago, and the forthcoming collapse of the US (all empires crumble and finish at some point).
http://tinyurl.com/ygv4zz
“A furious Phil Fontaine said today that plans for a national day of action have been stepped up after this week’s Conservative spending blueprint offered little for First Nations.”
Mr. Fontaine is not suffering. He sits in a nice, plush office in Ottawa, far above the level of those living in poverty, among the rich and the famous.
The problem with the Assembly of First Nations is that they are an archaic institution that benefits the chiefs more than it does the average Native person.
The ordinary Native in the communities does not see Phil Fontain either as their hope or their spokesperson. He is part of a system (with totally inadequate accountability) that is part of the problem in leading to lavish lifestyles for a few, but not the average Native person, and that system is not any part of the solution.
Kevin Tremblay…How can you STILL support this turkey?…SOME common sense …PLEASE!
DION has only himself to blame…
Just google his name and look for Stephane Dion foot in mouth disease…A number of pages come up…So stop blaming those around him!
Example:
1.Bumbledore Dion puts foot in mouth again
Leader of the Canadian Liberal Party, Stephane “Bumbledore” Dion, shoved his foot in his mouth once again, this time making allegations that Dimitri Soudas, the Prime Minister’s spokesman, was party to extortion in an Aug. 2006 real estate deal. The Globe and Mail (Jan.31, 2008) reported: “After question period on Thursday, Mr. Dion said: “Yesterday I used an inappropriate word: ‘extortion’ attempt. I apologize for that, and that was not the appropriate word.” But Mr. Dion added: “I will choose my words well this time: it appears like political interference.””
It’s bad enough Dion doesn’t say what he means, but we don’t know what he’s saying – or what he means to say at any given time – either. I guess we’ll have to wait for his Liberal interpreters to actually decipher his innuendo from his facts; his policies from his posturing; and regurgitate Their Leader’s Grand Utterances so we may all know what The Chosen One really intended to mean to say, at any given point in time.
2.Dion was quoted Wednesday saying: “We are going to have to discuss that (NATO action in Pakistan) very actively if they are not able to deal with it on their own. We could consider that option with the NATO forces … .”
When will the average joe on the Canadian street finally realize that Stephane Dion, Liberal Party “leader”, is plainly stupid and perhaps even insane, and has no business becoming Prime Minister? It’s up to them, the voters, to make sure that he never becomes the leader of our county.
3.This the same Stephane who jumped at the chance to say it was o.k. to recognize Kosovo’s independence…
Jean Chretien himself said we should NOT comment on it.
Forrest Gump would say…”STUPID IS AS STUPID DOES”…
Face it … Dion is the FORREST GUMP of the Liberal party…
Don Drummond, the TD Bank Financial Group’s chief economist told Canada AM that the domestic side of the economy remains very strong, but the economic weakness in the U.S. will affect the export side.
“We can’t avoid the weakness south of the border, but we’ve done what we can do,” Drummond said.
I, we, were once a conservative family; the Deifenbaker years offered us hope and help and the conservative government, at the time, delivered. We walked home from school hungry and feeling despaired or despaired. Well, I seem to be getting a flashback of the Grant Devine/Mulroney era of controlling the message. Oh well; I guess I could suffer in silence, but my four chilren will have to figure out what government is best for them: My children are now adults and they remember the hardships and depression we felt as a family with the recession and the Mulroney/Conservative government in the 80’s and early 90’s.
Gee Harper government is a flashback of those years of recession.
The cons seem to be controlling the media and muzzling scientists, farmers and the ordinary people. The elected cons will walk the walk but, as I sense, are unwilling to answer our ordinary questions concerning our ordinary lives.
What should I be thinking or feeling right now? Does anybody care?
Has anyone watched the National about the The Independent MP Mr.Cadman I think.He Passed of Cancer a few wks after the 2005 Vote.It seems a new Book out is saying the CONs offer him a Million Dollar Life Ins. for His Vote on the budget.His wife said he was insulted by the Offer. Anyone know more about this???? Could this be Another Scandal in the Making for Harper Like BillMuskoka was alluding to??
The Entire World Will Know Ron Paul Soon
U.S. Dollar chart below. We made history – again
http://www.paulunteer.com/uncategorized/the-entire-world-will-know-ron-paul-soon/
Air Force Blocks Access to Many Blogs
http://blog.wired.com/defense/2008/02/air-force-banni.html
Guantanamo prisoner trials to go ahead without defense attourneys
http://www.nytimes.com/aponline/world/AP-Guantanamo-Sept-11-Trial.html
Just heard on the news that the Conservative Party tried to bribe Chuck Cadman with a one million life insurance to rejoin the CPC and vote against Paul Martin in the 2005 budget that would have brought down the Liberals. Mr Cadman refused their offer and as a man of principle voted as his constituents wanted. Mr Martin also went to see him but made no offers.I think this story speaks for itself.
Senate Panel Seeks to Alter Law for Whistle-Blowers
http://www.nytimes.com/2008/02/28/washington/28whistle.html?ex=1361854800&en=8fafef24bb210563&ei=5088&partner=rssnyt&emc=rss
Interview Proves Bush Planned Iraq War Before 911 (Video 7min)
http://www.youtube.com/watch?v=mWkGhV3PsLo
By PYOTR PETROBITCH on 02.27.08 9:06 pm
By your definition, we should HONOUR lying buggers, Leasa. What would other people of your faith say?
……………………………………………………………………….
Aw shucks … pauvre Dion and the invalid Liberal party. I feeel so linearly sorry for them now that I might just vote for them out of sheer pity .. all because those nasty Cons and lying Dippers are such meanies to the nice nice Liberals I once used to know and vote for….!!!
I like your curvilinear thinking there Pyotr … where you shove your head up yer tokhiss and cry into yer bowels for your once mighty Liberal party that is now so low .. reminds me of a song .. “so long, been good ta’ know ya’ … opps …!!!
By tricia on 02.27.08 10:10 pm
Just heard on the news that the Conservative Party tried to bribe Chuck Cadman with a one million life insurance to rejoin the CPC and vote against Paul Martin in the 2005 budget that would have brought down the Liberals. Mr Cadman refused their offer and as a man of principle voted as his constituents wanted. Mr Martin also went to see him but made no offers.I think this story speaks for itself.
……………………………….
Tricia … Don’t believe anything you hear and half of what you read … particularly if it’s in that Liberal goebbelian propaganda rag, the G&M .. and the CBC …!!!
Both are desperate, deceitful Liberal propagandists and are obviously just unloading their dirt in case there is an election over the Budget.
Liberal desperation and the Truth makes for strange bedfellows .. LOL
Remember, pissing into the wind will always get you WET!
Good night Gracie!
There is a lot cooking, and that is just what we know about.
Time will tell. I shall sit on the bank of the river and wait….
By Bill-Muskoka on 02.27.08 1:18 pm
Don’t forget about the Cadman affair Bill -where the CPC offered him a million dollar life insurance policy for his vote, which is against the laws of Canada. So lets just add that bit of corruption to the Harper Party’s lengthening list of corruption and degradation to our country.
Interview Proves Bush Planned Iraq War Before 911 (Video 7min)
http://www.youtube.com/watch?v=mWkGhV3PsLo
By Greg W., Oakville on 02.27.08 10:18 pm
Thank you Greg.
Sickening isn’t it. That is why we have to get Stevie out of power because he is cut of the same cloth as Bush IMHO
The movie Zeitgeist is a good one to watch as well. I know you have recommended it before Greg. I purchased the DVD and have shared many copies with the sellers permission as they want the word to get out.
The USA infrastructure is falling apart like ours, and they are spending billions to rebuild the Irag they destroyed!!! Something wrong here. I remember how sick I felt when Bush said, “just watch the shock and awe” when he talked about how the USA would attack Iraq. To me, he is insane. He sends bombs and men to kill people and all he can say is that it will be shock and awe!!! I think he should be tried for war crimes along with Cheney and Rumsfeld.
Rick Mercer Liberal Song
http://www.youtube.com/watch?v=ME6bSd2bKU0
Backin’ down and lovin’ it
We said some things that we regret
Pass your Budget. Don’t mind us
Sorry if, we caused a fuss.
We’re backin’ down with a smile
No election for a while
Pass your Budget. Take all week
No one can understand our leader speak !!!!
We’ll pass your bills. Have no fear
If any one needs us we’re over here
An election now just won’t do
The future is lookin’ Tory Blue.
The Liberals, we’re adaptable
We’re adaptable ….
On the bribery allegations, the Globe story has this quote attributed to Harper in 2005:
“”They were legitimately representing the party,” Mr. Harper confirmed. “I said ‘Don’t press him, I mean, you have this theory that it’s, you know, financial insecurity, and you know, just, you know, if that’s what you say make the case,’ but I said ‘Don’t press it.’ ”
I can’t believe it is legal to try to bribe an MP to vote a particular way on a confidence motion and yet a national newspaper is printing this alleged quote of Harper saying they could go ahead and try. So what gives…are our laws so lax that one can try to bribe someone as long as you aren’t successful (I heard that one before on the recent Conservative real estate scandal) or is the Globe printing something that should lead to criminal charges?
“I suspect you [Harry S]are a Liberal hack trying to make Cons look bad.” – By pjw on 02.27.08 7:42 pm
Good Lord, PJW, that is a twist that had not occurred to me. How devious! And how successful!
Catherine-also on 02.28.08 5:40 am,
It is illegal to offer a bribe but the courts are very lenient when it comes to political crime. It is rare for such occurances to be prosecuted and even then it is rare to get a conviction. The major political parties tend to operate above the law because the courts are so unwilling to interfere in the political process.
HLH, why are you so full of hate? Is it a prerequisite to be able breath with your head so far up Harper’s derrière? Is oxygen that low in there? Did Stéphane Dion insult your mother personally? Did he torment you in high school? Why hate an individual so much, just because he was cursed to be the head of a very undeserving and dysfunctional party? Didn’t Jack Layton say that the Liberal Party would never choose Dion because he was too honest and sincere?
I support the man because I don’t believe in the caricature the Cons want us too. Obviously, if he is so bad, and granted the cycle is low right now, then why is he being constantly attacked by the right? Shouldn’t they just sit back and enjoy the show? Why do you want us to believe your version of him so badly? It seems you know that with the right kind of coverage, his basic decency and strength would blow Harper and his Harperbots out of the water. Also, here is a man getting constantly attacked and stabbed in the back, yet he is still standing, he is still there and he still wants to fight. The separatists attacked him for years, and they are a brutally mean-spirited and vindictive bunch, but he is still standing. Parizeau, gone. Bouchard, gone. Landry, gone. Duceppe, will be gone long before Dion ever will.
I lived through the referendum wars and to have him take on the separatists in their own province, and to beat them no less (which is a big reason why they can’t stomach him, this supposedly mousy little man BEAT them on their own turf. Les champions du chialages have never gotten over this.)
Stephane Dion is a good honourable man, and for the right wingers to literally hate someone so irrationally just because he is the opposition leader is rather telling of them, and not the object of their hate. Why do the right wingers peddle such a vicious attitude? Make no mistake, Harper will fall, and this bully will be remembered for being one of the meanest and least likable PMs this country has ever seen.
K. Tremblay
FYI:10:05am live Bush press conferance
http://www.whitehouse.gov/live-wm-pb.v.html
Tricia … Don’t believe anything you hear and half of what you read … particularly if it’s in that Liberal goebbelian propaganda rag, the G&M .. and the CBC …!!!
Both are desperate, deceitful Liberal propagandists and are obviously just unloading their dirt in case there is an election over the Budget.
Liberal desperation and the Truth makes for strange bedfellows .. LOL
By Harry S on
———————
Harry why don’t you give you pie hole a rest already. This obsession with Dion is really getting scary.
Oh and here is your kind of media reporting the same story Harry.
http://tinyurl.com/yv4jjt
Cya
By Calberta on 02.28.08 12:24 am
The list is so long I had to start a spreadsheet to keep track of them all. LOL
Yes, the Cadman issue is one of the most flagrant, and as we know now, Garth has blessed us with it as a topic.
Chuck Cadman was a man of honour, and still is. I hope he can come back as a ghost and haunt those involved.
Maybe he will do an Obi Wan Kanobi and become more powerful in death than life? I certainly hope so!
I hope not one of the bastards involved, and especially Harper, can sleep at night. This is the most disgraceful act by Harper yet, even worse than the IT broken promise.
If this were a foreign country what would be the result? RIOTS and civil war, I think!
Like Jack Palance said ‘The day ain’t over yet!’
Why are the Liberals trying to save face……. Just don’t criticize and support the budget, at least that would be bipartisan and consistent with their position !! These other tactics of missing just enough people or not voting, are juvenile.
A tough Question Period today. It seems that you will have to Quote the PM from the audio tape so that it is recorded into Hansard. The Cadman issue should not go away.