Between borrowing and the printing press they get all the money they need. Taxation is just to punish people.
22 Replies to “Why Are We Still Paying Taxes?”
Punish people and reward friends/wards of the state
The worst aspect is that 83% of the new borrowing goes to refinance past borrowing. This is how fiat currencies implode.
Especially since the refinancing involves higher interest rates.
When Justhin takes to the CBC, CTV news cameras — in front of an unquestioning Ottawa press corps — to announce a new vote-buying program, it never enters his little head that the announcement involves borrowed money. He has zero idea that his government must float new bonds, and people must decide to buy them them, for his government to get the money.
Dennis, It’s kind of similar to fools that withdraw funds from one credit card to pay off the other. Then they withdraw funds from the other to pay the first credit card…..at some point…….BOOM!
So does that imply that they have already borrowed the current $1.8 trillion?
Yes, borrowed money. Canada’s available credit is maxed out. Gone begging for more. Although I think it’s just a self imposed government limit that they want to up.
I wonder what previous hard working generations would think if they could see what this country has become. Sad.
The “people” cannot have money, need I even attempt to say why they should not?
What they want to loot the country before they get kicked out of office?
Looting. That is all this is. Liberals are evil, destructive, vindictive, macissistic, nazis.
They created our flag in their imagie, the two trudeaus quadrupled the debt of our entire history, and 90% of Canadian scandals were all Liberal creations. Only thing worse, are the neighbors who vote Liberal over and over again. They are the Parsons of 1984.
Soon it will be trillions just like us….
Our youngest brother was an accountant. He loved Maggie Thatcher and her line “It’s all fun and games until you run out of other people’s money!” He said that irresponsible people continue to borrow or max out their credit cards until no one will lend to them anymore. But I think that this Canadian government has borrowed heavily from the Chinese Communist Party and that is why they are letting the CCP walk all over Canada and buy up farm land and businesses. This is not going to end well!
Margaret Thatcher said: “The trouble with Socialism is that eventually you run out of other people’s money.”
If the Modern Monetary Theory crowd get their way, there’ll be no need for taxes at all, although they claim that you might need those in the event of inflation getting out of hand. In any case, it’s the Zimbabwe solution for us.
At what point – and there is one – does this become criminal and therefore incumbent upon “others” to arrest and detain these people?
What’s interesting, is they are claiming that they will only have a $40 billion deficit in this new spendathon budget, but if 83% of this “borrowing” is going to roll over previous debt, that works out to roughly ~$421 billion.
So ~$421 billion, plus $40 billion, give you $461 billion, not $508 billion, where is the other ~$47 billion going?
“As a result of these actions, and incorporating the results of the March 2024 survey of private sector economists, the budgetary balance is expected to improve slightly from the $40.1 billion deficit projected for 2023-24 in Budget 2023, at $40 billion or -1.4 per cent of GDP. This improves to a $20.0 billion deficit in 2028-29, or about -0.6 per cent of GDP (Table 1).”
Please, can I have more heroin? I have to give 83% of it to the guy I borrowed the money from to buy it in the first place.
It’s part of the great reset. Deficits and debts will become meaningless, because we will all be on a social-credit-based UBI.
put yer hand up if youve had this happen on a personal level.
how did it feel how was it resolved didja learn anything?
We are paying taxes because we must signal our willingness to obey dear Leader.
For income is bad!
Therefore Government must tax such income at punishing levels..
To encourage you to change your ways and use an alternative means of reward.
The citizens of Greece have shown us the way.
The future is cash..
Especially when you cannot trust our banks..They do not seem to understand whose money it is nor whose business they are monitoring..They will rat you out and freeze your accounts at the word of any junior bureaucrat.
No warrant, no legal order, just request by minion..
CRA does this all the time.
Borrow against what? We have declared all our natural resources as evil and worthless. The Cdn $ is falling in value. We already have record debt and a terrible GDP. In what world would any sane institution take the risk?
Q: Borrow against what? A: against rising taxes (presumed revenue increase), on a growing population, who will be put to work building millions of shanty houses, to accommodate the third world.
Punish people and reward friends/wards of the state
The worst aspect is that 83% of the new borrowing goes to refinance past borrowing. This is how fiat currencies implode.
Especially since the refinancing involves higher interest rates.
When Justhin takes to the CBC, CTV news cameras — in front of an unquestioning Ottawa press corps — to announce a new vote-buying program, it never enters his little head that the announcement involves borrowed money. He has zero idea that his government must float new bonds, and people must decide to buy them them, for his government to get the money.
Dennis, It’s kind of similar to fools that withdraw funds from one credit card to pay off the other. Then they withdraw funds from the other to pay the first credit card…..at some point…….BOOM!
So does that imply that they have already borrowed the current $1.8 trillion?
Yes, borrowed money. Canada’s available credit is maxed out. Gone begging for more. Although I think it’s just a self imposed government limit that they want to up.
I wonder what previous hard working generations would think if they could see what this country has become. Sad.
The “people” cannot have money, need I even attempt to say why they should not?
What they want to loot the country before they get kicked out of office?
Looting. That is all this is. Liberals are evil, destructive, vindictive, macissistic, nazis.
They created our flag in their imagie, the two trudeaus quadrupled the debt of our entire history, and 90% of Canadian scandals were all Liberal creations. Only thing worse, are the neighbors who vote Liberal over and over again. They are the Parsons of 1984.
Soon it will be trillions just like us….
Our youngest brother was an accountant. He loved Maggie Thatcher and her line “It’s all fun and games until you run out of other people’s money!” He said that irresponsible people continue to borrow or max out their credit cards until no one will lend to them anymore. But I think that this Canadian government has borrowed heavily from the Chinese Communist Party and that is why they are letting the CCP walk all over Canada and buy up farm land and businesses. This is not going to end well!
Margaret Thatcher said: “The trouble with Socialism is that eventually you run out of other people’s money.”
If the Modern Monetary Theory crowd get their way, there’ll be no need for taxes at all, although they claim that you might need those in the event of inflation getting out of hand. In any case, it’s the Zimbabwe solution for us.
At what point – and there is one – does this become criminal and therefore incumbent upon “others” to arrest and detain these people?
What’s interesting, is they are claiming that they will only have a $40 billion deficit in this new spendathon budget, but if 83% of this “borrowing” is going to roll over previous debt, that works out to roughly ~$421 billion.
So ~$421 billion, plus $40 billion, give you $461 billion, not $508 billion, where is the other ~$47 billion going?
“As a result of these actions, and incorporating the results of the March 2024 survey of private sector economists, the budgetary balance is expected to improve slightly from the $40.1 billion deficit projected for 2023-24 in Budget 2023, at $40 billion or -1.4 per cent of GDP. This improves to a $20.0 billion deficit in 2028-29, or about -0.6 per cent of GDP (Table 1).”
Please, can I have more heroin? I have to give 83% of it to the guy I borrowed the money from to buy it in the first place.
It’s part of the great reset. Deficits and debts will become meaningless, because we will all be on a social-credit-based UBI.
put yer hand up if youve had this happen on a personal level.
how did it feel how was it resolved didja learn anything?
We are paying taxes because we must signal our willingness to obey dear Leader.
For income is bad!
Therefore Government must tax such income at punishing levels..
To encourage you to change your ways and use an alternative means of reward.
The citizens of Greece have shown us the way.
The future is cash..
Especially when you cannot trust our banks..They do not seem to understand whose money it is nor whose business they are monitoring..They will rat you out and freeze your accounts at the word of any junior bureaucrat.
No warrant, no legal order, just request by minion..
CRA does this all the time.
Borrow against what? We have declared all our natural resources as evil and worthless. The Cdn $ is falling in value. We already have record debt and a terrible GDP. In what world would any sane institution take the risk?
Q: Borrow against what? A: against rising taxes (presumed revenue increase), on a growing population, who will be put to work building millions of shanty houses, to accommodate the third world.