And The Budget Will Balance Itself

Gradually Then Suddenly Shiny Pony SKExit 1 Comment

Moe, Smith — exactly what are we waiting for?

Unwilling to live within the tax revenues produced by the national economy, this government has borrowed more money in 8 years than all other Canadian governments combined since the nation was founded in 1867. This recklessness has doubled the national debt and created interest payments that are breaking all records – last year over $46 billion dollars and this coming year over $54 billion dollars. That is more than the federal government spends on the military, or healthcare. All of it taken from taxpayers to pay bondholders instead of being spent on public services.

Now, the centrepiece of their new budget is a capital gains tax targeting the few Canadian individuals and firms who invest in Canadian ventures or assets. This investment is what creates the new businesses and jobs and productivity the nation so badly needs.

It is bizarre to watch a morbidly obese and fiscally incompetent government propose – in the name of ‘fairness’ – to justify taking productive capital away from Canada’s small but critical investor class and hand it to the same bureaucracy that has for almost a decade shown they will only waste it.

Ten years of Harper’s fiscal restoration was laid waste by the Trudeau Liberals in the span of months. God Bless Poilievre, but he’s going to inherit a toxic stew of public debt and social entitlement that no amount of “common sense” can resolve. Extricating the economies of Saskatchewan and Alberta from this mess would be painful (of that there is no doubt) – but not doing so will be fatal.

Israel Begins Retaliatory Strikes

Radioactive Religion Of Submission 7 Comments

Happy Birthday, Ayatollah.

FoxNews;

Israel reportedly struck a site in Iran early Friday in retaliation for Tehran firing a barrage of missiles and drones at Israel late Saturday.

Fox News Digital has confirmed there have been explosions in Isfahan province where Natanz is located though it is not clear whether it has been hit. Natanz is the site of one of Iran’s nuclear facilities. […]

The semiofficial Fars news agency reported on the sound of explosions over Isfahan near its international airport. It offered no explanation for the blast. However, Isfahan is home to a major airbase for the Iranian military, as well as sites associated with its nuclear program.

Unconfirmed: Iraqi sources report that airstrikes in the capital city of Baghdad have targeted a building where a high-level meeting was being held with the presence of several groups supported by Iran and members of the Islamic Revolutionary Guard Corps.

IRAN DENIES: NO JEW DOG MISSILES HAVE HIT IRAN

May be: Maybe we just don’t open the Stock Market tomorrow

Magic Money Trees

DigitalCurrency I, Napoleon nannystate 13 Comments

With talk of Universal Basic Income appearing to gain steam these days, one of the main objections is the sheer cost of the program. But one advocate of UBI claims to have the answer, and it lies in marrying UBI with its obvious philosophical twin: Modern Monetary Theory. In doing so, he manages to lay bare the utter nihilism behind both theories.

Okay, so you want to start your own country and create your own currency? Congratulations! What’s step one? …. Step one therefore is to create money out of nothing. Choose whatever you want. Want to use shells? Okay. Want to carve notches on rocks or sticks? Okay. Want to use dollar bills? Okay. Want to use ones and zeroes? Okay. Whatever you do, get that stuff to your people. After your people have money, tax some of it back. Don’t tax all of it back. That would leave nothing for them to use on goods and services in the private sector. Tax some percentage of it back. Congrats! You just ran a “deficit”, began your “national debt”, and gave your money value by requiring that people pay their taxes in your currency.

I, Napoleon: Squatterloo

I, Napoleon Military Shiny Pony 30 Comments

TNC News;

A Royal Military College chaplain who was hailed by the Canadian military as an LGBTQ champion on Transgender Day of Visibility has been suspended following an alleged groping request.

The Department of National Defence confirmed to True North that Capt. Beatrice Gale had her chaplaincy revoked and was found to have violated military rules in a summary hearing because of “an inappropriate comment or request to another individual.” Gale was born a biological man but identifies as a woman.

“This incident stems from an inappropriate comment or request to another individual. Neither member was in a position of authority over the other,” DND spokesperson Andrée-Anne Poulin told True North. […]

One source familiar with the incident who chose to remain anonymous over fears of personal and professional retaliation alleged that Gale had become intoxicated during a dinner in the mess hall and asked to grope a male lieutenant’s buttocks.

*I presume he now pisses in the sitting position.

Your Moral And Intellectual Superiors

If Women Ran The World Media The Tolerant Left 24 Comments

Quotations from Chairman Maher;

Katherine Maher has a golden résumé, with stints and affiliations at UNICEF, the Atlantic Council, the World Economic Forum, the State Department, Stanford University, and the Council on Foreign Relations. She was chief executive officer and executive director of the Wikimedia Foundation. And, as of last month, she is CEO of National Public Radio. […]

What you notice first about Maher’s public speech are the buzzwords and phrases: “structural privilege,” “epistemic emergency,” “transit justice,” “non-binary people,” “late-stage capitalism,” “cis white mobility privilege,” “the politics of representation,” “folx.” She supported Black Lives Matter from its earliest days. She compares driving cars with smoking cigarettes. She is very concerned about “toxic masculinity.”

On every topic, Maher adopts the fashionable language of left-wing academic theory and uses it as social currency, even when her efforts veer into self-parody. She never explains, never provides new interpretation—she just repeats the phrases, in search of affirmation and, when the time is right, a promotion.

Maher understands the game: America’s elite institutions reward loyalty to the narrative. Those who repeat the words move up; those who don’t move out.

Let her explain more clearly: “Our reverence for the truth might be a distraction that’s getting in the way of finding common ground and getting things done.”

Strip Mining Investors

Canada’s Bolsheviks Gradually Then Suddenly Insufferable Twits 40 Comments

Perhaps the most drastic change in the recent federal budget is the hiking of the capital gains inclusion rate. This supporter of the change works out the math and finds that effectively treating a capital gain as wage income is just fine with him. The fact that an investor risks the loss of assets if the business fails is, to him, equivalent to the risk borne by the wage earner who gets paid every two weeks and never has to deal with the loss of a dime of capital to sustain the business.

Here’s the text of his X post:

$1 in wages. Top marginal tax rate = 53%.

Keep $0.47. $1 in corporate profit –> 26% corporate tax rate = $0.74 distributed as capital gains –> 50% inclusion rate = $0.37 taxed at 53% personal. All in, roughly 46% tax rate overall. Keep $0.54. Better than wages (and better than interest or dividends).

At 67% inclusion: roughly 52% tax overall for capital gains. So keep $0.48. Close to treatment of wages!

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