Tuesday, January 04, 2011

Hurray for Canada

The grits will not be too happy that the rest of the world is cheering on the Tory corporate tax cuts and other Tory economic policies. I'm sure iffy will deeat HM Government on the 2011 budget.

Look what's not happening in Canada. There is no real estate crisis. There is no banking crisis. There is no unemployment crisis. There is no sovereign debt crisis. Recent reports suggest that consumers are loading up too much debt, but Canada shares that problem with nearly every other country in the industrialized world.

Among the Group of Seven nations, which also include the United States, France, Japan, Germany, the United Kingdom and Italy, Canada's economic activity has come the closest to returning to the pre-recession peak. The country has recovered three-quarters of all jobs it lost. The International Monetary Fund estimates that Canada will be the only country among the G-7 to have achieved a balanced budget by 2015.


Anonymous said...

Thanks to Paul Martin's Regulation of the banks in the 90's.

bertie said...

Paul Martin never paid his taxes on his ships did he? A true Liberal?They just don,t pay their bills or their debts.How long was Martin PM...TOO LONG.

Kriilin said...

@ anon: Well the Liberals didn't jump up and down thanking Mulroney for NAFTA and the GST when they balanced the budget either, so let's call it a draw, shall we?

Alex said...

Hey Anon when do you suppose the Liberals will pay back the money they stole in Adscam? Will that be before or after they payback what they took from EI? With all that money stealing you would think they could at least balance their own books.

Thanks Dr Roy for the great article.

Anonymous said...

Funny how Anon is correct yet gets attacked by what can only be right-wing idiots.

@Alex, so what Canadian government is responsible for the largest Federal deficit? (Any answer except for the Harpercons would be wrong).

I wonder if it should be pointed out that Harper has a rather large cabinet... something about big government...

Anonymous said...

@ anon2;
who was it that forced stimulus down everyones throats? who were those same people who said that tax cuts were a bad idea and that they should be raised during a $%^&ing recession? and with all the pie-in--the-sky ideas for the stimulus proposal, just how much money would these unnamed have spent in order to "rescue" us?
read an economics textbook sometime. you'll find that these unnamed have no idea what they are talking about, that their answer is as always to increase the size and scope of government to hide the policy failures of previous govt interventions.
i do agree with anon1. the bank regulations coupled with an already conservative mindset in our banks prevented them from getting too stupid but it really was the GST that helped him balance said books. if it wasnt for the coalition of idiots we would not have had near the deficit spending that we currently see. of course we'll never know for sure.


Anonymous said...

ever notice, how it's -always- the liberals fault?

Look! Shiny ball!!!!!!! Never mind the financial disaster the harpercons are busy weaving with their massive deficits, spending ramped up so fast it makes your head spin, the ludicrous tax cuts that only benefit the very wealthy (meanwhile the average Canadian taxes ARE GOING UP!). The Harpercons are -in power- for god's sake, and they STILL blame the liberals? So, do you mean to tell me these conservatives are so ineffective they can't make their own decisions they have to allow a weak opposition make them for them??? Puuul-lease...

No, the Harpercons simply are incapable, of taking responsibility for their own actions, so all they can do, is shriek adscam, or "the liberals blah blah!!!" to take our attention off of what clearly, is an out of control, spend happy growing bloated government.

I remember this sort of mess from Mulroney... And we'll be paying for this dearly in a few years down the road after Harper a co ride off into the sunset with their "nanny state" funded golden pensions.

Frank said...

"The grits will not be too happy that the rest of the world is cheering on the Tory corporate tax cuts and other Tory economic policies"

You nailed that one Dr. Roy. The anonymous Liberals chimed-in just to prove your point about never being happy no matter the accomplishment or accolade.

been around the block said...

Why are the Liberal defenders here posting as Anonymous? Somehow, it waters down their indignation. It's a bit like the wearing of a burqa: Who is this?

Anonymous said...

well I suppose when you got nothing, you could always go after the fact I posted as anonymous.

Does it matter? Shall take a name like, say "neo liberal"? Will that make it all better?

My only guess is, you don't want to address the fact I pointed out we have an out of control overspending government.

But hey, they're conservative! And they promised to balance the books! Even though, they've never shown they are are capable of this!

What a world you must live in!

For the record, I don't think Iggy is capable either. But that doesn't automatically mean I default to believing Harper can, like some here I suppose.

Alex said...

The IMF thinks we will balance the Budget by 2015. I'm betting on sooner than that.

The opposition forced us into stimulus with the coalition crisis. I was one of those people who supported stimulus. It was right at the time. Its my fault we are in deficit. Its probably your fault too. Its not Mr. Harpers fault but he is awesome and happy to give Canadians what they want and when they want it. We wanted debt and we got it. Now we want Surplus and the Conservative Government will deliver.

Better force and election fast cause the Future won't be kind to Liberals.

Anonymous said...

oooooh, well, if the IMF says we're gonna do it, well, that MUST be true!!!

I have watched as this government that I originally voted for jack up spending at an alarming rate, and seems bent on spending billions and billions more on hairbrained expenditures yet! Just because on is a conservative does not automatically mean I support this nonsense, and I can see clearly with this government's desire to continue spending large dollars on big items in the future we aren't getting to a balanced budget anytime soon.

That's a total pipe dream.

Alex said...

An alarming rate of spending? For giving the military the tools it needs? For building roads and bridges when the commodity and labor prices are low? For giving my parents a tax credit?

This is gonna be hard on your puritanical ideology but those are things we needed anyway. Those are things we needed. Those are things we wanted.

Its not what you wanted. What you wanted was to give everybody something nobody wanted, you included. I'm glad you didn't get what you want. I don't get every thing I want either buddy. Join the club. I know your pain.

Lucky for you, we seem to want what you want now. You should be happy. Dummy's like us we don't know what is right sometimes except the people are always right. Even when the people are wrong they are right. That's how its got to be, and this government knows all about it.

So even if you are an agent provocateur. (conservatives just don't say things like "alarming rate") -Even if you are one or just an unreasonable grump. Its all good brother. I look forward to having your vote back because your pipe dream is mine too. We will see it realized. With a little luck and a little skill it will all come true.

Anonymous said...

These are things we needed anyway? We needed our government to ramp up spending and put us on track to deficit spending even before the recession came upon us? Seriously? That's your excuse?

I'm sorry, but that's weak. We don't -need- the biggest deficits in history, period. While you're so quick to excuse an out of control spending government let me remind you that should the government be called liberal, and do the very same thing the hollering from 'conservative' supporter's blogs would be monumental! I use quotes over conservative because this is no conservative government! They are NOT fiscally conservative whatsoever, this is a spend and let the deficit skyrocket government!

Some day soon, we will have to pay for the monumental debt that is rising, either through higher taxes (that's already happening to the average Canadian NOW while corp taxes are slashed...) and/or through way higher interest rate payments year after year.

No, we don't need this government, any more than we need the arrogance of the liberals. Just because the 'other' choice is bad doesn't mean for one minute I will excuse the abuse of our tax dollars and the lying of this government.

Alex said...

"..while corp taxes are slashed..."

See. This is why I don't think you are real. Conservatives don't complain about low corporate taxes. We know where jobs come from and if you were a true ideolog you would complain about something else. You don't smell right, but thats beside the point.

I know full well what the pure uncompromising libertarian position is. I also know we can't get there over night. I am for the pragmatic journey to our ideal.

I doubt you even follow your own strict observances of conservatism. Do you own a house? Do you own a car? Did you pay for these things in cash? Uh-oh. It looks like you were in deficit for a time. Yes these are things you needed too and all the better if you aquired them during the recession. You say its weak, but I say its true.

Part of that spending you just generally despise was the home renovaiton tax credit. Are you for taxes now? My parents who NEEDED, yup there is that word again, to do some renovations anyway got a break for doing so at the height or the recession. They pay enough taxes and so do I.

I suppose we should increase the GST too? If temporary debt is the ultimate evil and forget other considerations like the economy, heck lets double GST. How conservative.

....And speaking of debts. When the cuts start coming I think you owe me and the rest of the conservative movement ton a cheer leading and cheering. I had better see you out front telling everyone you meet how awesome this government is. The Unions will scream and you my freind had better be on the front lines to meet them. If you aren't then it doesn't matter what comes out of your mouth. You'll still be a socialist enabler.

Anonymous said...


It's interesting you snipped out the corporate tax slash criticism. You immediately zero in on something, out of context, and then question if I understand conservatism, "something doesn't smell right".

Well, respectfully, something indeed, "doesn't smell right!"

No, I'm not a libertarian, I never will be. I would not consider myself a hard right conservative either. I'm more of a centrist to be honest. (gasp!!!).

In a time like this, we need good government. I believe we need some core conservative ideas to be observed. Mainly, smaller government, and stop the spending! NOW.

I listened to Tim Hudak's message, and his main one was referring to his family, and his words were "ya didn't spend on what you couldn't afford". Now that's very true! This is NOT the case with Harper's government! He has increased spending, his finance minister was an idiot during the beginning of the recession, acting as if it didn't exist, and has continued the incredible bloat of government the liberals had.

You think it's a conservative government because they say they are? Because they cut the gst? They make wild pronouncements to appease conservatives?

I'm no dummy. I'm calling foul on these incompetents.

I do own a house, a large one in downtown Toronto. I didn't buy it until I had over 50% down, and I made sure, I could reduce my debt and not allow it to feed on itself and multiply year after year! I do have a car, and yes, I paid cash for it. I did without for a number years, for this reason. I am against building debt unnecessarily, and I live my life according to that principle. I also own a small corporation, so why wouldn't I be for corporate tax cuts?

The reason is because I believe, right now, right now, we cannot afford it. I saw first hand how great the reno tax credit was in creating jobs right away, even I took full advantage. It's these kinds of targeted tax breaks that I think Harper is on the right track with. The sweeping corporate tax cuts with this belief this will create more jobs I think is a pipe dream. If that strips me of any credibility, then so be it. I stand by it.

I think Harper needs to live up to his mandate, and make for smaller government and start slashing spending right now. Not in 5 years, not these brainless tax cut vote buying nonsense stuff like the gst point cuts. (yes I thought those were little more than vote buyers rather than real, effective targeted tax cuts). Just because it's a tax cut, doesn't mean it's a smart one.

So to me, it goes beyond this silly little debate of, who's more a real conservative! It's time to be realistic and see that Harper is failing in many ways and is repeating the very same nonsense the liberals did. When I read your post,respectfully it almost reminded me of listening to the liberals trying to excuse their bloated corrupt excuse for a government. I'm tired of excuses. As so are many Canadians I believe.

We need a 3rd choice. Because the two we have, really really suck in my estimation.

Alex said...

Im not sure how I took you out of context. You don't like corporate tax cuts and then in your response you say why you don't like corporate tax cuts. You still don't like corporate tax cuts. You also don't like cutting the GST. You are pro tax, if I may say so, and we are anti-tax.

We are taxed too much as it is. With or without spending we pay too much already. As you said before the only reason spending is important is because of future taxes. So here is something I totally agree with "smaller government, and stop the spending! NOW." Here Here brother. Shout it from the roof tops!

I would even go further. Cut spending and then cut taxes some more and cut spending again until we reach the smallest possible government. I sure hope you reflect the opinions of the centrist voter in your policy wishes at least. If thats true then our time has come.

As for incompetance, you are the only one who thinks so. Even the enemy doesn't say that about us though they have tried to make the lie stick. Its further proof of the deft skill this goverment operates under. Its not the government who wanted spending. It was the poeple. The recession is over and the reason for spending is also over.

Whatever the reason for cutting the GST (TWICE!) It has saved me hundreds if not thousands of dollars. Did you buy your house and car before or after the GST cuts? How many thousands did that save you? Most of us can't laugh off thousands of dollars. We need that money, we earned it. The economy needs that money far more than an arbitrary and temproary break even point of deficit and surplus.

Anonymous said...

so, because I disagreed with the nature, of the tax cuts, and the timing, you immediately assume, I'm "pro tax"? That's ridiculous! Obviously, you didn't bother, to read the rest of my comment, which should give you the idea that I am very much for lessening the burden on tax payers. Running the deficit to astronomical levels, does not accomplish this! We will end up losing whatever we have saved in these tax cuts in the end, because you don't seem to understand that we will end up having to pay back for these tax cuts which are ending up on our line of credit! Why is this so hard to understand!!!!

We cannot, keep ramping up the spending, and significantly lowering the revenue needed, to pay for our debt! This is sheer lunacy! You have attempted to turn my warnings into some kind of tax loving socialist plot, which is exactly the problem here!!!

Oh, you disagree? You must be on of those tax loving liberals! Is this the best you can do?

My house was a resale house, so there was no gst except for the real estate fees. Yes I saved some money on the gst buying my car, but I am well aware that I will lose those savings down the line when we all come to the realization that the national debt has ballooned to epic proportions, and we all end up paying for it somehow, since money simply has to come from somewhere.

Please read my comments carefully. I am not, against tax cuts. Don't do us the disservice by lowering discussion down to the level of stupidity of the idiots screaming "right!" "left!". That's gets you nowhere fast.

I Support Lord Black