How much larger will Canada’s debt get?

The Calgary Herald’s Licia Corbella points out some uncomfortable facts:

Let’s look at the difference in the tax burden between a Canadian child born in 2017 compared with their parent born in 1987.

Assuming that the parent makes the average Canadian salary of about $50,000 annually, the parent’s lifetime taxes paid are $586,726. But that parent is also expected to receive transfers or entitlements such as child benefits, EI, elderly benefits, social assistance, health and education, totalling $510,294, which results in a relatively low lifetime tax burden of $76,432.

The child, however, is expected to pay more than $3 million in lifetime taxes and receive $2.311 million back in transfers, for a tax burden of $735,919 — an almost 10-fold increase over their parents.

11 Replies to “How much larger will Canada’s debt get?”

  1. Be nice if as much time and effort was spent teaching kids about something that WILL happen in 10 to 12 years.

  2. So what to do?

    I know what I would do, if I were king—repudiate the theft bonds issued by previous globalist-controlled Canadian governments, using the future tax payments of the unborn as collateral. Every cent.

    Yes, that would cause every bank in Canada to fail. Good. Long past time Canada’s financial system were rebuilt from the ground up—with the ability to issue money put back in the hands of the sovereign, where it belongs.

    Yes, that would do for your government-employee sister’s pension.

    Tough.

    For a long time now, her long-suffering brothers, who have had to work for a living doing something useful and pay taxes their whole lives, have had no realistic retirement plan—short of killing themselves while they still had the mental and physical strength required to pull it off. Is it their fault no man in his right mind would marry her? Let her cats keep her in her old age—or, failing that, let her climb into the bathtub and slash her wrists. Better her than her nephews or grandnephews.

    The parasites who rule over us claim to own title deeds to the grandchildren of the peoples of the western world. Let’s see the bastards try to enforce their claim.

  3. BFD. When I was a kid it cost $.25 to go to the movies. Last movie I went to was Independence Day which cost $14.
    A ten-fold increase would have been a mere $2.50.

    At least we aren’t Zimbabwe or Venezuela yet. By the way, what is it with these countries that have a “Z” in their names?

    1. Thomas Sowell pointed out that when he was a boy a ticket to the newest Hollywood blockbuster was $0.25. A gallon of gas was $0.25. Two family sized jars of ketchup were $0.25. Compare to prices today.

      There’s a lot of people who squawk about Big Oil, but how come we never see protests against price-gouging Big Tomato?

  4. In general i agree with the article, HOWEVER it is also the younger generation that insists on all going to university, which is a huge expense to taxpayers. It is also generation screwed who insist that governments solve all of society’s problems (resulting in expensive and worthless programs). I could go on but my point is made.

  5. Hey, the younger generation largely voted for Trudeau.

    So enjoy higher taxes kiddies. Say goodbye to pensions too.

    Oh, and learn to like walking. There won’t be any private cars in the green/Liberal world you desire. Too many people will object to the increased mining required to provide for a green economy.

  6. “Hey, the younger generation largely voted for Trudeau”
    ..and when Trudeau Sr. was increasing Canada’s debt by 800% his economic ignorance had zero affect on his chances in the elections that he campaigned in and usually won.
    Canadians are easily duped and they seem to be getting dupiter.

  7. In a couple of weeks Canaduh is going to re-elect Blackie McBlackface. because Scheer’s father was an American.
    But nobody cares that Blackie’s father is Cuban?
    WTF????

  8. Speaking of deficits and government debt –

    MMT (Modern Monetary Theory) perplexes me somewhat – finding a concise & pragmatic definition is difficult, if not impossible.

    Here’s the best explanation I’ve managed to find so far:

    https://www.cbc.ca/news/opinion/debt-retirement-1.5061948

    That said what’s missing in the theory is confidence in a nation’s currency – conspicuous by its absence?
    (Zimbabwe and Venezuela come to mind)

    All in all, methinks its a pernicious idea promulgated by tyrannically-minded & articulate academics
    Nonetheless it appears to be the monetary mantra of Canada’s fiscal policy.

  9. To get into a duplex in Victoria required about $10,000 down payment in 1991. Now it’s $40,000. That was before the Grits changed the rules to help first time homebuyers by having them shut out. Willing mortgagee and lender. Justin says no, we need more taxation, regulation and his “help.” Next on their list – mortgage helpers and primary residences caplita gains taxed.

    But clearly Canadians trying to get into the housing market are more concerned with abortion, gay marriage and dual citizenship.

    We have the most coddled, oblivious and ignorant voters anywhere, who have no clue how previous generations died for their freedom.

    Sheep to be sheared; like milk cows, then to slaughter. Why would anyone in the west want to be part of that corrupt nonsense?

  10. All part of the Vatican’s social justice doctrine. What they can’t (yet) do openly, they do quietly through the tax code and government programs.

    Distributing wealth from the middle class to the lower class, while claiming to take from the rich to give to the poor. All part of their goal of a “fairer” society.

    Though in reality it is to first eliminate the middle class, and then impoverish the populace. Returning the world back to the dark ages when the people were poor, illiterate, and relied on the good graces of the Catholic Church for their temporal and spiritual needs.

    Though to the Vatican, it would be a return to the Golden Age, when they preyed off the people, stole the proceeds of their labor, raped their children, and lived like kings.

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