How bad is the economy going to hit the fan

Disagree. You don't try to take more from those who don't have it. What you said is a very American way to think and I'm glad our government didn't go down that route.

 

$1 trillion in their sovereign fund versus the current $17 billion in Albertas

 

Luckily this is s thread about Canada's economy so it doesn't matter what other countries do

 

Truth. That being said I think a lot of it has to do with the reinvestment program in Norway (think Petro Can but even bigger) rather than smart taxation. If the feds or Alberta had of demanded shares of the oil companies that exploit our resources maybe we'd be a lot better off.

 

I'm not talking about taxation , it has everything to do with getting money from their resource

http://m.huffpost.com/ca/entry/4576887

 

http://www.cbc.ca/news/business/ban...ws-oil-dimming-corporate-confidence-1.3022372

 

Unemployment in my area is getting pretty high. What's interesting though is the amount of backlash at the Torries from the people who used to be die hard conservatives, right until they lost their job. Even funnier is how they think the government could do more for them while not raising provincial taxes .

 

I think that may be a result of the " Low oil prices won't effect the economy or our ability to table a balanced budget " mantra

 

True, but people should expect higher taxes if they want the same level of service during a down swing in oil. Alberta had significantly lower provincial taxes than other provinces due to the use of oil money to hold up the budget. No oil money means budget changes. To be honest the PC's did a pretty good job with this budget in my mind. They taxed those who could handle a bit more tax, put the healthcare levy back into effect, raised taxes on booze, and raised taxes on gasoline to the same level as other provinces.

Higher royalties or the reformation of crown oil crown companies are long term fixes that can only really be implemented once oil prices come back up. Dreaming about what could of been done in the past is useless. BTW I find the people who talk about the past negatively are the same people who grabbed the Ralph bucks and cheered, loved the low tax rates without thinking about why they were low, and cheered when the healthcare levy was axed.

 

oh , you're talking provincial Conservatives , I was talking Federal but yeah , pretty tough to get along with no PST and no income that replaces a PST

 

I too disagree with making the upper class pay a higher percentage, it should be the same percentage. The upper class is still paying more $$ that way.
Just my opinion. And subbed to this thread, because it is interesting.

 

American in the hen house

 

:runsaway:

 

You can stay , I'm just rattling your cage lol

 

Well I for one don't support a flat percentage based tax. Take a higher percentage from those who can pay and a lower percentage from those who can't.

Let's be honest. If you clear 6 figures and can't afford to pay an extra 1-2% tax to help out social programs, you are an idiot. That's all that Alberta has done.

 

I hear you, it does make sense. Make more, you should pay more. I guess I just put myself in their shoes and i would be pretty angry if I had to pay a higher tax percentage than someone else when I work harder for my money.

(not saying people that make 6 figures actually work harder)

haha I figured!

 

I work in the oilfield luckily still employed but I've seen more and more people losing there jobs. We went from 85-90 hours a week to barely gettin 40 now. The price of oil went up 3.00 today so now we're sittin at 52.14 a barrel. Still not good but definitely an improvement. I see how it affects everything else though. He'll even scrap metal prices are wayyyy down. I think a lot of it honestly is political but I'm hoping it don't shit like it did a few years ago

 

It'll be intetesting to see what Joe Oliver has to say when the budget finally gets tabled . I have no idea how they plan on balancing the budget and introducing all their election goodies like income splitting snd increased child care benefits

 

All true. This is going to be fun to watch.

 

Not a fan of the proposed new law

http://www.cbc.ca/news/politics/joe...gislation-avoids-repeating-mistakes-1.3024610