Category: It’s Probably Nothing

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!

And The Budget Will Balance Itself

Gradually Then Suddenly Great Moments In Socialism Shiny Pony The Libranos 30 Comments

WHEE! The Liberal Govt announces a $40B deficit with $50B in debt servicing costs, or $95K a second!

@RealAndyLeeShow is following the shitshow so I don’t have to.

Budget 2024 includes $411 million to support healthcare for asylum claimants and refugees, along with $79 million improve immigration holding centres and $141 million for lodging for asylum seekers.

Meanwhile, $8 million is dedicated towards preventing migrant smuggling.

CBC gets an additional $42 million taxpayer-funded bump in the budget.

Catherine Swift;

It’s painful to listen to @cafreeland speak, but a necessary evil. Major capital gains tax increase pretends to be a wealth tax but actually will be imposed on any Cdns who have retirement savings & other investments. So most of us

“There are very few measures that are designed to increase capital investment and enhance labour productivity.” #cdnpoli #Budget2024 ~ Fred O’Riordan, economist

Hit me harder, daddy: … new controls and taxes on real estate to take effect in 2025. Measures to be detailed in “consultation” documents this summer include a tax on undeveloped property…

Tax and Spend. And spend and spend and spend.

I want a new country.

“Turbo” Cancer?

It's Probably Nothing Safe and Effective 22 Comments

It’s like regular cancer… but faster.

Peer reviewed paper mentioned in the video.

Cureus- Increased Age-Adjusted Cancer Mortality After the Third mRNA-Lipid Nanoparticle Vaccine Dose During the COVID-19 Pandemic in Japan

Statistically significant increases in age-adjusted mortality rates of all cancer and some specific types of cancer, namely, ovarian cancer, leukemia, prostate, lip/oral/pharyngeal, pancreatic, and breast cancers, were observed in 2022 after two-thirds of the Japanese population had received the third or later dose of SARS-CoV-2 mRNA-LNP vaccine. These particularly marked increases in mortality rates of these ERα-sensitive cancers may be attributable to several mechanisms of the mRNA-LNP vaccination rather than COVID-19 infection itself or reduced cancer care due to the lockdown.

Gentlemen, Seize Your Engines

Gradually Then Suddenly If Women Ran The World Shiny Pony 18 Comments

CTV News;

“I think this is likely to be the worst budget since the [then-finance minister Allan] MacEachen budget of 1982, in the sense of pointing us in the wrong direction as to how we go about raising the incomes of Canadians and actually making Canadians feel better over the medium term,” Dodge said in an interview on CTV News Channel’s Power Play with Vassy Kapelos.

In a time of high interest rates and inflation, the 1982-83 federal budget, under then-prime minister Pierre Elliott Trudeau, became the object of political fury over spending, taxation, and wage restraint measures within it.

Dodge, who was governor from 2001 to 2008, was referencing the strong indications that in order to help finance the nearly $40 billion in pre-announced new spending without raising the deficit, the federal government may impose some form of individual wealth tax or excess profit tax on wealthy corporations.

Freeland will present the budget in the House of Commons on Tuesday afternoon, vowing a plan centred on “generational fairness.”

Seen somewhere: Why do they tax cigarettes? “To disincentivize smoking.” So why do they tax income?

Don’t Worry, It’s Transitory

Democrats Gradually Then Suddenly RINO 53 Comments

Updated to add the source link! My apologies.

Epoch Times;

For months and even years, the mainstream news has sought to spin terrible inflation news. It’s not so bad, it’s just transitional, it’s getting better, it’s not really a problem, and all your gloom about the value of the dollar is in your head. Truly, in the past fortnight, we have been inundated with articles suggesting that the public is dumb as rocks for thinking that inflation is still a problem.

Yesterday morning: boom! The upward trend for the entire first quarter was solidly confirmed. We could be entering a second wave. It was so bad that not even the two most influential venues could deny it. The New York Times reported, “Inflation Stronger Than Expected.” The Wall Street Journal reported, “Hot Inflation Report Weakens Case for Fed’s June Rate Cut.” The accompanying editorial is even better: “The Inflation Thief Rises Again.”

Truly, I’m stunned by the highly unusual and rather brazen truthfulness of these headlines. I don’t think we’ve seen that in three years. Which makes me wonder: Maybe the problem is even worse! […]

In the 1970s, the devastation occurred in three distinct waves. Each time the trend improved, elites declared victory and the Federal Reserve moved in with rate cuts, thereby causing yet another round. Absolutely no one in charge anticipated the next wave. It came anyway.

Truinnerashuvaduprezure…

Democrats It's Probably Nothing Truinnerashuvaduprezure 30 Comments

“It’s 3am and your children are safe and asleep”. *

The White House has called a press lid just before 5:13 PM today, indicating that President Biden will not be seen or heard from for the rest of the day making no statements tonight.

Anyway…

Al Jazeera live. NBC live. FoxNews latest.

Richard Fernandez (Facebook link);

The reality is that Israel has decided to retaliate, in my view with the goal of creating the maximum destabilization in Iran. Biden has no option but to go along, kicking and screaming. By temporizing and crisis managing, Joe gave up all strategic initiative.

In trying to have it both ways Biden got nothing. Now a wider war is inevitable. Blinken’s policy is in shambles. The failure was from the top. We need a new strategy. The old one is dead.

Infinite Mortgages

Canada’s Bolsheviks Great Moments In Socialism It's Probably Nothing 58 Comments

The Bank of Canada’s efforts over the past year to hike interest rates are now at the point where you can call the policy utterly laughable, considering that whenever the policy threatens to have consequences, those consequences are speedily legislated out of existence. The government of Canada has just issued new mortgage measures whereby anyone who can’t pay their mortgage can simply make whatever payments they can afford. That’s a pretty sweet deal, if your goal is to turn homebuyers into blatant parasites.

…the government will allow 30-year mortgage amortizations for first-time home buyers purchasing newly built homes, effective August 1, 2024.

Third, the enhancements to the Canadian Mortgage Charter will also include an expectation that, where appropriate, permanent amortization relief will be made available to protect existing homeowners that meet specific eligibility criteria. Amortization relief means eligible homeowners can reduce their monthly mortgage payment to a number they can afford, for as long as they need to.

Socialist Progress

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 12 Comments

In the continuing saga of The Workers’ State of South Africa, there’s finally some good news. Well, sort of. It seems that there have been fewer power outages lately. Mind you, that’s not because supply is growing. Rather, shuttered factories have no need for electricity and the marginal consumer is simply going off-grid.

The weak South African economy, and the resulting generally flat overall demand for electricity.

Rapidly rising price of Eskom and municipal electricity of two to three times the inflation rate for many years, is dampening demand for Eskom generated electricity.

Load shedding and low reliability of Eskom and municipal grid electricity, particularly for the last four years, have been negatively impacting electricity supply.

Electricity customers are responding by moving to self-generation and alternative energy sources, including rooftop solar PV, battery energy storage, gas for cooking, solar hot water geysers, energy efficiency, and a general reduction in demand for grid electricity.

 

Losses For The Masses

Canada’s Bolsheviks Gradually Then Suddenly It's Probably Nothing nannystate 5 Comments

Maybe central planning didn’t work at this time, but trust us, it will work at some point in the future. The question remains, why do we even have such a bank in the first place?

The head of the Canada Infrastructure Bank defended $900,000 spent on a now-cancelled power line project, arguing the project will ultimately get built and the due diligence the bank did was entirely reasonable.

The bank agreed in 2021 to offer a $655-million loan to the project and spent $900,000 on due diligence involving lawyers and outside experts. The project has since been suspended and the original owner sold its interest to another company. The loan did not go through, but the $900,000 had already been spent.

Taxing Measures

entitlement generation Gradually Then Suddenly It's Probably Nothing nannystate 18 Comments

Boston is certainly not the first city to hit the wall of declining commercial property values, and it won’t be the last. The cheering was widespread when everyone worked from home during the pandemic, but now that many of those jobs have disappeared and downtowns are filling up with the homeless, there’s simply not enough commercial tenants left to fill the gap.

A recent report by the Boston Policy Institute found the city may lose $1.4 billion in tax revenue over the next five years due to empty office spaces. Boston could also face a recurring shortfall of about $500 million each year after that first half-decade, the report found.

In a sane world, the solution would be to cut spending and align it with revenue. But in the insane Keynesian universe, the “solution” is to tax the remaining commercial property owners even harder than they already are. I can’t imagine any negative consequences arising from that, can you?

The measure would give the city the flexibility to temporarily shift more of the property tax levy onto commercial and industrial property owners. If approved, new tax rates would only go into effect if commercial valuations come in low as expected, Wu said.

Broken Records

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 28 Comments

It’s about time that Zimbabwe switched off the broken record and admitted that decades of scientific socialism have only yielded abject failure, but Maximum Leader seems intent on forcing the citizens to bang their heads against the wall yet again.

On Friday, Mushayakarara is expected to announce the introduction of a gold-backed currency to replace the worthless local dollar, which is currently trading at around 30,000 to one U.S. dollar and, unlike the South African rand, does not circulate in neighboring countries.

Zimbabwe has introduced and abandoned at least five currencies since independence in 1980, all of which lost value to become almost worthless.

Zero Income Earners

Gradually Then Suddenly It's Probably Nothing nannystate 21 Comments

The emergence of another casualty of California’s decision to hike the minimum wage to $20 per hour comes as no surprise to anyone who understands basic economics: the real minimum wage is actually zero.

When making their way to work Monday morning, Navarro and her team learned upon arrival that the restaurant owner had made the decision to close its doors for good. The owner, Loren Wright, told local Fox affiliate KMPH that this was the “last thing” they wanted to do, but knew by Friday night the business likely wouldn’t be able to absorb the wage hike…

“And those who are still working in the areas around us that went up to $20 an hour, they got their hours severely cut.”

The New Police State

Freespeechers It's Probably Nothing nannystate Surveillance State 52 Comments

Not only can the Scottish police now charge you with “hate speech” on a wide variety of topics, but they can do so based on criteria that drops any  and all pretense of objectivity. It seems that for Scots the best way to avoid prison would be to tape their mouths shut and abandon social media.

Asked whether “misgendering” someone or making a comment about their religion would be a crime the minister replied: “This will be up to Police Scotland. I wouldn’t say misgendering if you say something on social media for example it would be up to Police Scotland to determine.”

Rest assured, however, the police will move heaven and earth to investigate such “high level” crimes:

Just last month the national force said it was no longer able to investigate every “low level” crime, including some cases of theft and criminal damage.

It has, however, pledged to investigate every hate crime complaint it receives.

Our Business is Theft

It's Probably Nothing 33 Comments

And business is booming.

David Clinton- Using Government Data to Track the Car Theft Epidemic

Canada is experiencing some nasty car theft numbers right now and I’d love to understand the underlying “business” model a bit better. Reports suggest that most of the stolen cars are left to “cool off” for a couple of days to make sure there aren’t any tracking devices (not that the police have time to intervene even if there are) and are then shipped out of the country through the Port of Montreal.

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