How about a $250b deficit from the Tory government and add another $250b from the Trudeau years..
Exactly. I'd call a half-trillion debt and rising "the brink" wouldn't you?
Canada will always pay more tax than other Countries, just for the fact the size of this Country and the so few people that live with in.
Why? We may have to pay a bit more for defense or infrastructure, but our other costs are actually lower (land supply, raw materials). Ultimately, the amount of tax we pay should be decided by taxpayers, if they decide to get off their asses and make the decisions needed (i.e., to demand policies that lower spending and taxation, and to get that debt paid off). As it is now, taxpayers don't pay enough attention to the consequences of their actions.
If other countries want to endebt themselves into oblivion, there isn't much we can do about it other than buy forex put options on their currency. The same applies for any countries that want to tax themselves into stagnation. The thing we can do is try to avoid the same fate.
Argentina was the richest country in the world a century or so ago. Where are they now? If taxpayers allow sirens of nationalism, protectionism, and collectivism to cloud our judgement, we risk the same fate.
The NDP is very nationalist, protectionist and collectivist. The Libertarians are not at all. The Conservatives and the Liberals try to cover the ground in between, with varying amounts of success. Why should any significant amount of bad economic policy be considered "moderate"?
-g |
