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Is Trudeau Hiding Environmental Data Calling Top Secret Because it Exposes his Government?
Is Trudeau Hiding Environmental Data Calling Top Secret Because it Exposes his Government?
In Canada, the Trudeau government is refusing to release carbon tax data, saying it is top secret so that Canadians are unable to see the findings of the report. This is pretty standard for if it supported their agenda, they would be the first to release it to the public. Things become secret like the Kennedy Assassination files only when the expose the corruption within the government. Trudeau certain does not want to reveal that all the taxes imposed for the climate never go to anything connected to the climate.
Canada’s “Enron-style” Economics: Most Wealth Redistribution Occurs Off the Books
Canada’s “Enron-style” Economics: Most Wealth Redistribution Occurs Off the Books
The Trudeau Administration’s reappointment of Bill Morneau as the country’s Finance Minister last week was by far its most important.
During his first term, Morneau managed to hold together a shaky Canadian economy, which for the past three decades has relied on driving borrowing and spending increases at a pace faster than economic growth just to keep the system afloat.
It’s a Ponzi scheme, and insiders know it.
The question is whether Morneau—whose education, financial background, and previous work at the C.D. Howe Institute position him as one of the brightest lights in a weak Trudeau cabinet—can keep the game going.
Morneau’s biggest challenge will be operating in an environment in which estimated off-the-books annual wealth transfers* caused by the federal government’s suppressed interest rate policies are twice the size of his official budgets.
“Taxes on idiots”
The challenge is that it is hard to manage off-book wealth distribution, because so few people know that it exists.
That’s no accident. Economists figured out long ago that voters would never pay for bloated public spending if they knew its true cost.
Over the years, governments have thus developed a variety of revenue sources that voters can’t see. Corporate and payroll taxes are one example. Lotteries and casinos, which have been described as “taxes on idiots”, are another.
Supressed interest rates, which rob pensioners and retirees of the benefits of a lifetime of thrift, act much the same way.
Yet while economists distinguish between fiscal (overt) and monetary (off the books) policy, few have ever tried to quantify the difference.
In truth, as we noted last week , the process is complicated.
…click on the above link to read the rest of the article…
Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole
Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole
As first reported by the Globe and Mail, Ottawa announced it would close a tax loophole that allows non-residents to buy homes and later claim a tax exemption on the sales.
According to the revision, the government will make sure the principal-residence exemption is only available to individuals who reside in Canada in the year the home is purchased, which immediately excludes thousands of “hot money” Chinese tourists who come to Canada simply to park billions in Chinese cash.
The Ottawa shift comes after home prices soared dramatically the last few years in the Vancouver and Toronto markets, triggering a vigorous debate about the role of foreign money. As reported in the summer, British Columbia imposed a 15-per-cent foreign buyers tax on homes which led to a dramatic cooling in the Vancouver housing market. Just today we learned that Vancouver home sales had plunged another 32.6% relative to a year ago as the market remains paralyzed as a result of a lack of buyers willing to chase near record prices.
The finance minister also announced new measures to combat offshore speculation, including closing the loophole. The moves follow a Globe and Mail investigation that revealed a network of speculators flipping homes for profit and avoiding taxes by classifying them as principal residences.
…click on the above link to read the rest of the article…
