[Newsbot]

Title: Federal budget 2024: Billions in new spending, $39.8B deficit | CTV News
Category: Political
Posted By: Scape
Date: 2024-04-16 13:20:30
Canadian

[Scape]

Hail Mary budget focused on massive housing push. No reserve and capitol gain on the rich 1%. Holding debt just under 40 Billion.

[DrCaleb]

Disability fund is an insult. People receiving it qualify as poverty level income and have a cap on any extra income they make which will claw back their disability funds. Industrialists and tech bros (who contribute little to society, and may be responsible for its downfall) have no such limits on how much they can earn.

[Scape]

Fun fact: under Brian Mulroney's PCs in the 1980s the capital gains inclusion rate was hiked from 50% to 75% -- and the overall combined corporate rate was in the low-40s versus the current rate of 26.5%.
And yet, businesses were formed. They took risks. Imagine that.

$1:

Statcan data to put some perspective on how bad federal debt costs are. In Q4 2005, when Harper took over, they were 14.3% of revenue. In the latest quarter, they were just 10.0%, or 30% less.

GDP

Federal Revs/Exps

[DrCaleb]

You can tell the only job PP ever had was politics, not economics.

No one will invest in a country with no infrastructure, and the way you build infrastructure is to collect taxes. Business will pay tax, if it means infrastructure to do things like transport goods.

[Scape]

As the NDP has yet to back the budget (but will) they could use this to further fine tune the capitol gains tax change. They already exempt Dr offices from this but they could elaborate on the exemptions for small business. A win-win for the NDP and the Liberals if done correctly.

[Scape]

Nice pearl clutching there.