Eric Cline’s Squandered: Canada’s Potash Legacy: Windfall profits, economic rent and paying for social services, Part 3
This is where Cline shows his true socialist character, as a self-described socialist.
Eric Cline’s Squandered: Canada’s Potash Legacy: Windfall profits, economic rent and paying for social services, Part 3
This is where Cline shows his true socialist character, as a self-described socialist.
Windfall profits keep a business from going under during the times when there is little or no profit.
By definition, a windfall is an atypical event and not a steady state condition.
I note the report is quiet on Federal corporate income taxes. Also silent on employee wage taxes. Also silent on dividend taxes from shareholders.
Here would be the title of a better report. Squandered, the history of government revenues in Canada. Since the collective governments of Canada and the provinces, and the municipalities are the most effective wealth destruction machines ever devised, there would be a plethora of material to choose from.
As expected, his derives his spurious notion of windfall profits by only looking at gross instead of net profits.
Socialize the profits, privatize the losses. That’s the socialist way. Take a look at the Nutrien stock chart – same price now as in 2018; that’s seven years of dead money if you’ve been a shareholder that long. In between of course there was a huge price spike in 2022 and that’s when socialist friends like our Cline would focus on collecting – unrealized capital gains anyone?
“Windfall” profits are good.
If an oil company is making lots of money, it will spend some of it to search for more oil. Other oil companies will also join the search. Some of them will find it. The increased supply will then lower the price of oil.
It’s self correcting.
I think it was really good to have these sort of discussions. A lot of valid points raised here, today.
Taxing windfall profits will result in fewer windfalls.
Surely windfall profits arrive on the wind, and the wind is not controlled through taxes. Or are you telling us we could have effective control of the weather but our finance ministers have been too dumb?
Taxing windfall profits will result in fewer profits. There’ll be just as much windfall. Maybe more of it wasted.
Not having heard of Cline before your previous post, I felt his socialism then. It’s like listening to someone talk about the “tar sands”. Nothing useful accompanies such drivel.
If a lamprey kills its host, it might also have regrets. But if a lamprey is anything like a socialist, it will look outward for answers as to why the host perished.
Having read the article, Cline confirms to me that the NDP is a communist party.
Period.
Their membership is almost entirely comprised of the segment of the population that embraces communism – unions. And specifically public-sector unions
With the remainder made-up of recent immigrants, welfare recipients, rent-seekers, the unintelligent, and the young.
It started as the old CCF, they were hard core communists.
Beck, the leader of the Sask NDP should be addressed as Comrade Beck.