In this latest budget, it’s clear that Trudeau and His Minions Continue to Destroy Canada’s Economy. 10’s of Billions of new borrowing and spending. They are doubling down on their failed policies of the last 9 years.
After years of struggling with foreign capital flight from Canada, what has the Trudeau government done to encourage them back? A Brand Spanking New Higher, yes Higher Capital Gains tax. We’ve already criminalized foreign investment in Canada’s real estate market by imposing a ban on new purchases. We’ve already levied “empty home” taxes etc. Now this government made it impossible for anyone to keep any profit from their real estate investment.
Since 2015, Trudeau and his band of economic illiterates has made it their mission to destroy Canadian energy, mining and pipeline projects. And they have been highly successful in doing so. Just look at Trans Mountain Pipeline. Kinder Morgan set out to build the pipeline in 2017 with a $4 Billion budget. After climate and native backlashes, Trudeau nationalized it and it is now completed at a cost of over $30 Billion to Canadian Tax Payers. That our brilliant government at work folks.
In addition to destroying the Canadian oil/gas and mining sectors which is about 45% of the TSX, the Trudeau Libs went after Canadian Banks which is another 30% of the TSX with their Bank Dividend Tax. Finally they set their sights on the Big Telcos. By allowing incumbents to use existing telecom infrastructure for free they have screwed over the Telcos that took out debt to finance the buildout of those networks as well as the huge costs to maintain them.
All of the Trudeau Government moves have been shortsighted in the extreme. They made Canada such a shitty place to invest that no one wants to buy our once Great Canadian Companies. So now there’s talk about forcing big pensions plans like the CPP to invest in Canada. Why would they do this when this Trudeau Government has made these such horrible investments.
Canadians get the government they deserve. So whenever I hear people complain about the cost of living I say if you aren’t broke yet keep voting Liberal/NDP.
The Governments own statistics show and undeniable fact: Canadians standard of living has fallen consistently since 2015. That’s all thanks to this government waging an all out war on innovation and the very sectors of our economy that produce and create high paying, value added jobs.
Never mind how much richer we would all be if we would have developed our Natural Gas resources and infrastructure to ship to Europe as the German Chancellor was prepared to commit to long term contracts. Or LNG and Oil to the West Coast to ship to Asia as Japan and Korea wanted.
Instead Canadians are stuck paying a punitive and unfair Carbon Tax while China builds hundreds of coal fired power plants. Canada’s share of global CO2 emissions are negligible and every part of Canadian society has done more than its fair share to reduce those emissions. Yet we punish and destroy our economy while other nations (THAT POLLUTE WAY MORE) do nothing…in fact they continue to add to the problem at an exponential rate!
Now this bankrupt government that continues to borrow and spend like a drunken sailor is desperate for new tax revenues and the assets held by the shrinking middle class are clearly in their cross hairs. There’s been lots of discussion about a wealth tax. As usual Trudeau pitches it as a measure aimed at the rich to pay their fair share, while in reality it is a measure designed to steal what little wealth the middle class still holds. They’re coming after our houses and other investments. Presumably a wealth tax would also encompass things like our TFSAs and RRSPs.
This is scary stuff and makes me wonder what the point of working at all is? After all the vast majority of Canadians are hardworking and trying to get ahead the best they can. Why would this government want to punish and disincentivize this behaviour?
With each passing day I think that Mr. Trudeau’s historical legacy will be to provide future generations with a blueprint of how to destroy a wealthy liberal democracy.
It’s astonishing how unapologetic, corrupt and morally bankrupt this Coalition Liberal/NDP government is. I think Canadians are finally waking up to this as seen in recent poll numbers that show continued deteriorating support for both Leftist parties. I think the Liberals and NDP will struggle for a generation after the public truly grasps what they have done to our once great country!