The arrogant, spend-thrifts deserve it for labelling small business owners as crooks.
Canadians aren’t crooks, Liberals, Canadians are what allow you to send $Billions around the world for your zero-goal, virtue signalling, feel-good, “I wanna be on the security council” wet-dreams.
Hey! Small business owners “didn’t build THAT” … so why do they deserve tax “loopholes”. That is what these tax “reforms” signal to me … that the baby-Trudeau-substitute-dance-teacher Government thoroughly disrespects small business … just as Obama insisted that none of the hard work of small business were due to their own personal efforts. The Trudeau government believes that small business exists ONLY because of government’s generosity and therefore the government has the “right”, nay responsibility, to rescind the “unfair” tax codes.
Crushing small business between the millstones of government regulation and taxation will have only ONE predictable result … ‘poof’ … the disappearance of small business productivity and … tax revenue. Yes … trickle-down economics works in reverse. Economics are the study of HUMAN nature. And when government creates a DIS-incentive to work … then work STOPS (or dramatically slows). It’s HUMAN nature to SURVIVE and to retain the fruits of one’s OWN labor. No small business owner will work FOR the government … best for the politicians to consider the predictable consequences of their actions.
The lieberals and their fellow travelers in the media will bleat about equity, equity, equity, in the tax system. They will not, of course, see the irony in that they are going after a method for which many small business people, farmers and professionals employ to provide for a decent retirement. The irony is the completely inequitable fully indexed pensions, wages far in excess of the private sector and other perquisites that the public sector enjoys completely at the expense of the private sector. You will not hear one single lieberal speak about that inequity
The Shiny Potato is doing only what hid daddy Pierre taught him.
But alienating small business owners can backfire. During the Nicaraguan civil war nearly 40 years ago, it became clear that Samoza had lost when even the mercantile class in that country had turned against him. A few months later, he was out of office and had gone into exile.
A “loophole” is apparently anything that allows anyone to keep more of their own money and therefore must be closed.
Mission (Being) Accomplished. Reading the comments in the original article – us vs. them/divide and conquer etc. “fairness” for sale – $250M.
What has been lost in all of this is “imperial Finance” reference. No doubt the Liberals bought into the idea without any thought about how small business would react.
But why did Finance even float the idea? It’s because very few of the policy wonks running the department ever worked outside of government. The result? Any tax treatment received by anyone that is more favorable than that permitted our tireless public servants is viewed with envy and contempt.
“If I can’t get that treatment, neither will you” is the silent refrain, despite the fact that small business is responsible for so many jobs and a major portion of the wealth that’s actually created in this country. Something of course that Finance overlooks every time.
I don’t foresee much harm heading the Liberals’ way over this latest fiasco. After all, anyone casting a ballot for inept and crooked Liberals in the first place, especially when being led by a totally incompetent and useless waste of oxygen, is beyond stupid and will continue to vote Liberal come hell or high water.
99% of revolts, rebellions, revolutions start as result of excessive taxation.
btw…foreign aid – in billions – buys you helicopter rides to exotic islands for Prime Minister and his coterie.
Quite right. The Spawn’s success at the polls was a function of Quebec voters abandoning the NDP in favour of their old favourites, Liberals. Harper’s success was a product of a healthier NDP-Liberal split. Either way, 2/3 of Canadian voters are either evil or brain-dead.
The LIEberals don’t care about creativity, initiative, hard work or future employment. It’s more of the “State über Alles” tactics. This whole canard to tax small business equity is a giant TAX GRAB because the ‘budget will balance itself’. PM “Selfie” couldn’t stage play this drama with paying customers, so he has to run around to cow folks into submission via Revenue Canada.
Full disclosure: As a financial planner this proposal is a sure small business killer.
Cheers
Hans Rupprecht, Commander in Chief
1st Saint Nicolaas Army
Army Group ‘True North’
Captcha hilarity: RESCUE PEMEX
Agreed.
To any Liberal voters out there who are upset about this: honest question, what did you expect?
And to those who aren’t upset: really?!
Hey, didn’t IQ80 say that the budget would balance itself?
“honest question, what did you expect?”
I don’t think that the average Liberal (or NDP) voter had any real expectations and most certainly didn’t apply logic to casting his or her ballot. After all, Stephen Harper was mean and had to go. At least that’s what was drummed ad nauseam into their empty heads by the media.
With idiots – it’s hard to tell. Were it anyone else I would say this is just empty posturing for the lower end of the liberal demographic power base – the fast food workers, the Quickee Mart cashiers, the people of Wal Mart – who have no concept of how small business works. It’s a great way to virtue signal to stupid people for free, and maybe enrage and goad your opposition into saying something stupid that you can take advantage of. The morons in the comments are eating it up.
Given that Turdo La Doo is literally an idiot child of a bipolar whore… maybe he means it. Regardless – we all need to get off the couch on the next election night. This man is a moron and can’t be trusted with the job he has.
The only thing any Liberal has ever wanted honest Canadians to do is shut up and pay taxes. Never to ask what for, never to question what those taxes will be used for and never ever to ask why the Liberals pay their friends first. Trudeau is the sock puppet for a group of crooks.
“I don’t think that the average Liberal (or NDP) voter had any real expectations and most certainly didn’t apply logic to casting his or her ballot. After all, Stephen Harper was mean and had to go. At least that’s what was drummed ad nauseam into their empty heads by the media.”
Never attribute to stupidity what can adequately be explained by malice….
I’m reminded of a comment that O’Bummer made about raising the minimum wage to $15/hr. Never mind that it was impractical or uneconomical. It was all about “fairness”.
Then again, after the revolution in Russia, didn’t the Bolsheviks go after the kulaks, accusing them of becoming rich on the backs of the peasants and holding onto their “ill-gotten” gains?
It can’t happen in Canada, you say? Perish the thought.
Ho hum, once again, yesterday’s absolutely necessary and progressive “incentive” has become today’s nasty “loophole” that must be closed, lest the government be unable to funnel your cash to its rent-seeking cronies. I always get a kick out of the contortions the politicians have to go through trying to sell these hare-brained tax nostrums. The most entertaining opinions are the ones from the usual social justice idiots bemoaning the fact that the latest government ‘tax reform’ does nothing for the low income folks – you know, the people who don’t pay ANY taxes at all. Of course, all this bloviating does obscure one basic fact: government tax revenues are higher than they have ever been in history – this isn’t a revenue problem, it is (as always) a SPENDING problem. And of course, any unintended consequence of this new idea (eg,thousands of small businesses shutting down and lots of people losing jobs), will be the font of inspiration for tons of new tax incentives, which will also, in the fullness of time, become loopholes which must be closed to increase “fairness”. One thing I’ve learned after watching this over and over again, is that whenever a politician starts talking about making anything “fairer”, keep your hand on your wallet.
Culled from several news report these figures would suggest an excessive spending problem and not an inadequate taxing problem.
2015 Liberal Election Promise – Budget Surplus / (Debt)
2016 – 2017 (9.9) billion
2017 – 2018 (9.5) billion
2018 – 2019 (5.7) billion
2019 – 2020 +1.0 billion
(24.1) billion
2016 Liberal Actual / Forecast – Budget Surplus / (Debt)
2016 – 2017 (23.0) billion actual
2017 – 2018 (28.5) billion forecast
2018 – 2019 (27.4) billion forecast
2019 – 2020 (23.4) billion forecast
(102.3) billion
2016 Liberal Forecast – Budget Surplus / (Debt)
2020 – 2021 (14.3) billion forecast
It’s not very complicated: Many of the stakeholders in this professional demographic normally vote quietly for the Liberals
If this is true and it probably is then let them eat it. I clearly remember talking to a few people last election who were voting liberal “because of the bigger tax cut”. VOTING LIBERAL FOR A TAX CUT. I couldn’t help but laugh. These are the guys who are implementing a tax on air for christ’s sake.
Jim, nice work on the large, ongoing Liberal budget deficits versus the smaller campaign budget deficit promises. No surprise that the discrepancy is being ignored by Liberal supporters and the liberal media. What is not apparent is where all of this extra debt is going. Infrastructure, health care, refugees, EI benefits, welfare, and foreign aid spending needs to be scrutinized by the auditor general, if we even still have an auditor general in this country.
One of the first things the Sock Idiot and his handlers did after inexplicably winning the last election was to give themselves nice fat pay raises, they also flew to the islamic country of France for a photo op under the pretense of “controlling the weather and saving the planet through taxation… the Sock Retard then gave away 8 billion borrowed taxpayer dollars to corrupt third world dictators, you know, to save the world from the weather. Someone has to be punished in order to make the gangster globalist/libranos happy, and 38% voted to be punished. The Media have another Globalist/LIberal selling job on their tiny shit smeared hands, “helping the middow clath and those working hard to join the middow clath”… Just like the last election I think the Media are up for the Librano sales job, nobody puts baby Turdo in a corner.
A couple of points .
This is the largest taxation change in 40 years in a record short time .
Consultations are a sham – they have made up their mind.
Your average NDP / liberal voter sees no difference between your local businesses/ professionals and say Exon mobile or other large Corp.
This will be followed by a capital Tax .
They only have to keep those living of the government payroll to stay in power .
Two points
Why are folks that follow the tax laws and leverage those rules (and I believe this is a direct quote from the legislation) “pay the minimum tax required”, branded cheats but those entering the country illegally are “irregular migrants” according to this government?
Second point
Why does every liberal and socialist (but I repeat myself) not understand the inevitable capital flight that comes with this kind of “tax reform”?
And if you listen real close you can hear….
“You don’t give parents $200 they’ll just waste it on beer and popcorn”
Which at the time the pundits claimed Bucky Dithers couldn’t be beat.
Personally I’m deeply offended at the scorn passed my way when Lieberals can’t figure out what else to do, so they focus on closing me. I really don’t exist. Except at times when its convenient for moral and intellectual superiors to get a bug up their butts about some people rising financially through worth and work. You see, this is not the way it’s supposed to be.
This will play well in:
The Liberals have all the socialists they need for a permanent majority.
Canadians aren’t crooks, but Liberals are. What does Trudeau and Morneau have their familly money in, Trust Funds? They have never done an honest day’s work in their silken lives. Not that I am trying to stir up envy but people in crystal glass houses shouldn’t throw stones at the less fortunate who have to work for it, just as their forefathers did.
http://www.huffingtonpost.ca/2015/10/24/justin-trudeau-net-worth_n_8374458.html
http://nationalpost.com/news/politics/money-began-to-rain-on-trudeau-foundation-once-justin-took-over-liberals-analysis-shows
http://business.financialpost.com/news/economy/a-ceo-but-not-exactly-a-bay-street-guy-how-bill-morneau-became-canadas-new-finance-minister
If you drive a car I’ll tax the street
If you try to sit I’ll tax your seat
If you get to cold I’ll tax the heat
If you take a walk I’ll tax your feet
It reminds me of Stalin’s assault on the Kulaks, without the vehemance of course.
I don’t think so sanpai. This is going to backfire guaranteed. Low information types already detected a higher tax bill last year and if this change goes in you’ll see a lot more waking up.
Malice is often attributable to stupidity. And vice versa.
Thanks for posting this Lance.
Why don’t politicians end their tax-free allowances? Aren’t they “loopholes” too? Or the deduction for a second residence? Or only having to serve 6 years to get a pension? There is risk in politics that you may not serve more than 6 years. So they reward that risk. But they want to remove the reward for small business risk.
Sean M: I totally agree with you…WHY DID SOCK PUPPET GIVE OUR MONEY AWAY. The Clinton Foundation 220 million, 10.5 to a terrorist and as you say the lists go on Billions given away so Sock Puppet can get an IN with the UN, they must be laughing all the way to the bank. Sock puppet said he would help the Middle Class, the only help I see is down…down…down!! Vote the Liebrals Out next election 2019!!
On the one hand I obviously want the liberals to turn tail like they did on the taxation of group benefits last winter and abandon this frivolous (less than a billion in estimated tax revenue at what cost in productivity?) idea.
But on the other hand if they go through with it it will serve two important purposes:
1. It will clearly delineate the difference between the LPC and the cpc: the LPC wants MORE government and MORE regulation and taxation to achieve it. The cpc wants the exact opposite. And the LPC could not even remotely be able to argue against that
2. It will cause a significant breach in the LPC elite. I think it a very safe assumption that a significant majority of doctors and lawyers are liberals. Many of them are active in the party and significant monetary donors. The LPC loses most of their support of this legislation passes. (And the cpc gets their support if they promise to restore and improve upon the current laws)
Politics got into your head a way to deep. There are real people out there with real lives.
One point … he who controls the language, controls the message. Hence …
“Gay” “pride”
“Alt. right”
“Gender … choice”
“Marriage”
“Governmental … Investment”
“Climate change”
“Pregnancy … termination”
“Women’s … choice”
“Renewable energy”
“Green”
“Hate … crime”
Hey Kenji you forgot diversity, multiculturalism and white guilt just to name a few.
Closing these kinds of loopholes and special carve-outs is good policy. The tax rate should be as flat as possible. Nothing special for small biz.
I’m one of them. But one should consider the mid to long term benefit – we don’t get Reagan for eight years without carter for four.
Capital gains should be taxed far lower than interest and dividends. They aren’t. So unless they are leave the current ungainly system stay.
“No doubt the Liberals bought into the idea without any thought about how small business would react.”
Which is the key point.
On the basis of the information presented throughout the media discussion of this item, I might fault the Finance Department for failing to see how these proposals represent a major reversal of policy from at least Paul Martin, Jr.’s time as Minister. Other stories I have read talk about how the formation of Canadian-controlled private corporations has taken off in the past 15 years — in other words, since the time the Liberals were last in office.
The life-time capital gains exemption augmentations (from sale of shares in a CCPC) most certainly encouraged the trend, and I have seen nothing talking about any change to this latter advantage. It is possible that the Finance Department coupled the current proposals with wider tax-reform proposals calling for flatter tax rates, or for lower rates on interest and dividends, or for other measures to offset the impact on small businesses, as some commenters here and elsewhere have advocated, but I don’t know that.
Overall, though, I don’t fault the Finance Department for coming up with tax policy proposals — that’s their job. The problem in this situation is the judgment of the Liberal ministers. They’re the decision-makers, not the bureaucrats. Where were they? Ralph Goodale served as Finance Minister once Martin became Prime Minister: surely he would have known the history, and should have seen the dangers. Does he support this reversal? Might be a profitable line of questioning for the Opposition…
What’s clear, of course, is the pattern: electoral reform, House of Commons procedural reform, Omar Khadr payout, the First Nations file generally, NAFTA positioning, immigration policy and now tax reform. We’ll see how marijuana policy goes (the portents are not promising). Mostly covers the waterfront, I’d say. Drill down an inch or two below the rapture with Mr. Trudeau, Jr. and there doesn’t seem to be much practical, historical or political understanding anywhere in there.
Let’s just say that they haven’t had a great two years in terms of accomplishing anything. Whether this will hurt them electorally, of course, will depend upon whether Liberal-Conservative switchers finally connect the dots.
In my fairly long life I have not witnessed one single reduction in the size of government no matter which party was in the majority.
You are operating under a false assumption Winston Smith; the low info masses cannot be woke. They are incapable of ever acting in their own self interest. They believe their self interest to be “free stuff” from whomever is promising that minute.
How do you think the reverend Jones convinced people to drink cyanide; it was free.