[Newsbot]

Title: Federal, provincial governments invest $500K into Maple Leaf Consumer Foods
Category: Business
Posted By: shockedcanadian
Date: 2016-07-19 05:46:55
Canadian

[shockedcanadian]

The line between communism and capitalism is getting thinner and thinner. This type of constant taxpayer funded support doesn't bode well for Canada in the long-term. A nice way to say "look at the "private sector" jobs we created".

[DrCaleb]

shockedcanadian shockedcanadian:

The line between communism and capitalism is getting thinner and thinner. This type of constant taxpayer funded support doesn't bode well for Canada in the long-term. A nice way to say "look at the "private sector" jobs we created".

"Communism".

$500k is pocket change. But, suddenly there are parades with the Hammer and Sickle and goose stepping troops!

[shockedcanadian]

Make light of taxpayer money funding a private business. If you support government ownership and corporate welfare I guess you would.

The level of government ownership, part ownership, "investment initiatives", heavy regulations and "protections", in both Ontario and Canada more broadly is astonishing.

We are regressing to the systems that were already defeated and proven inefficient and destructive. We just used linguistics and different words to describe the same. Now $500k is "pocket change", so therefore, it doesn't really count. Even though you can be sure they will count the new private job creation *couch* that occurred to any such investment.

The province of Ontario gave MLSE similar grants. A billion dollar company. Many such businesses have been granting taxpayer funds, theft as far as I am concerned. Helping wealthy friends or propping up inefficient businesses. The cheerleaders at the OPP accept this type of uncontrollable grants as long as they maintain their budgets and powers.

No wonder our allies don't trust us.

[DrCaleb]

shockedcanadian shockedcanadian:

Make light of taxpayer money funding a private business. If you support government ownership and corporate welfare I guess you would.

Assumes facts not in evidence. But, your posts usually do.

I'd like to know what the $500k was for, but the story doesn't go anywhere.

shockedcanadian shockedcanadian:

Now $500k is "pocket change", so therefore, it doesn't really count. Even though you can be sure they will count the new private job creation *couch* that occurred to any such investment.

I installed a server yesterday, worth $380k. It's about the size of an end table.

Just me. No jobs were created. It took about 1/2 a day to get it running, and it will run for 5 years before being replaced with something similar that will be available at that time.

In the mean time, it will be used to collect various taxes and levies, totaling in the billions of dollars. Sounds like a good investment to me.

[shockedcanadian]

DrCaleb DrCaleb:

shockedcanadian shockedcanadian:

Make light of taxpayer money funding a private business. If you support government ownership and corporate welfare I guess you would.

Assumes facts not in evidence. But, your posts usually do.

I'd like to know what the $500k was for, but the story doesn't go anywhere.

Why does it matter what the money is for? It's an operating cost. Why is the government covering operating expenses of a company that is apparently operating in the free market?

[DrCaleb]

shockedcanadian shockedcanadian:

DrCaleb DrCaleb:

shockedcanadian shockedcanadian:

Make light of taxpayer money funding a private business. If you support government ownership and corporate welfare I guess you would.

Assumes facts not in evidence. But, your posts usually do.

I'd like to know what the $500k was for, but the story doesn't go anywhere.

Why does it matter what the money is for? It's an operating cost. Why is the government covering operating expenses of a company that is apparently operating in the free market?

That's why I'd like to know. Was the money used for a capital expense that created jobs, or perhaps used to alleviate a new regulatory provision that protects public food safety? Then I could see it being a worthwhile expense.

But $500k is still peanuts in the grand scheme of things.

[2Cdo]

It's not peanuts to someone like him who has only ever made minimum wage or welfare his entire pathetic life.

[andyt]

Really? You wouldn't notice 500k missing from your bountiful portfolio? Must be nice.

[DrCaleb]

andyt andyt:

Really? You wouldn't notice 500k missing from your bountiful portfolio? Must be nice.

Comparing apples to hydrogen there. $500k is, from my calculation, .00000001724% of the annual gross expenses of Canada.

For a person making $50,000 per year, that's equivalent to $0.0086.

Peanuts.

[2Cdo]

DrCaleb DrCaleb:

andyt andyt:

Really? You wouldn't notice 500k missing from your bountiful portfolio? Must be nice.

Comparing apples to hydrogen there. $500k is, from my calculation, .00000001724% of the annual gross expenses of Canada.

For a person making $50,000 per year, that's equivalent to $0.0086.

Peanuts.

Its just a usual trolling comment from andy. If one of his leftie buddies made it he'd be leading the cheerleading section.

[andyt]

But you're not trolling. It's just natural to throw insults at Shocked out of the blue, right? I don't think I've ever seen him insult anybody.

Read what Caleb wrote. How does shocked's income factor into this? You're just a bully that wants to go after people for anything. If shocked makes one of his cornspiracy posts, fine if you feel the need to deride him for it. (Doesn't it get old tho?) Seems you're still stuck in high school. Gang up and go after people for anything.

And Caleb, not a miscomparison on my part at all. It's 2CDo who brought up personal income in regard to this topic. Apparently he is so rich he wouldn't deem 500k a big deal. Must be nice.

[DrCaleb]

andyt andyt:

And Caleb, not a miscomparison on my part at all. It's 2CDo who brought up personal income in regard to this topic. Apparently he is so rich he wouldn't deem 500k a big deal. Must be nice.

I'm not defending any sort of personal attacks here, but it is a bad comparison. $500k for Canada is nothing. Anyone short of Mark Zuckerberg would notice a $500k personal loss, even 2Cdo.

If 2Cdo makes say $200k per year, then by the same ratio, he'd see a loss of about 4 cents as a comparison to $500k and Canada. People lose that much if they pay cash at the grocery store on rounding errors! No one notices! Unless, like 2Cdo says, you have very little money to begin with.

[shockedcanadian]

DrCaleb DrCaleb:

andyt andyt:

And Caleb, not a miscomparison on my part at all. It's 2CDo who brought up personal income in regard to this topic. Apparently he is so rich he wouldn't deem 500k a big deal. Must be nice.

I'm not defending any sort of personal attacks here, but it is a bad comparison. $500k for Canada is nothing. Anyone short of Mark Zuckerberg would notice a $500k personal loss, even 2Cdo.

If 2Cdo makes say $200k per year, then by the same ratio, he'd see a loss of about 4 cents as a comparison to $500k and Canada. People lose that much if they pay cash at the grocery store on rounding errors! No one notices! Unless, like 2Cdo says, you have very little money to begin with.

First of all its the principle. Whether $50,000 here and there, or $500,000 here or there, it's a dangerous slope we are climbing. Why choose Maple Leafs instead of a competitor? This is government helping to choose the winners and losers. Furthermore, this is fed/provincial money, so we don't know the breakdown, but as much as Ontario loves to spend money it doesn't have, any amount would be a higher percentage to Ontario than the Feds.

There are ways to assist businesses compete without using taxpayers money. We have starving kids in poverty, a failing healthcare system, large classes in education. I take offense to excessive spending and in particular free money to businesses or excessive spending, inefficiencies and bureaucracies in government institutions. I prefer a laissez-faire economics, and if and when government gets involved it is for a specific community benefit with thorough purpose.

[peck420]

Investment...

Initial: $500,000

Estimated 34 full time positions (I am intentionally ignoring the part times).

Average full time wage in Manitoba: $24.72/hr
http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/labr69h-eng.htm

Now, since that is just estimations, lets hedge the bets a bit. I am going to assume the a 35 hour work week at 2/3rds the average rate...so $16.48/hr.
Federal
Net Earnings (per employee): $29,993.60
Federal Taxes per year (individual): $4,499.04

Federal Taxes per year (total): $152,967.36

6.54 years for 100% ROI if 100% of investment is from the Federal government. Not bad.

Provincial
Net Earnings (per employee): $29,993.60
Provincial Taxes per year (individual): $3,239.31

Provincial Taxes per year (total): $110,136.54

9.08 years for 100% ROI if 100% of investment is from the Provincial government. Still not terrible.

ROI = (Gain from Investment - Cost of Investment)/Cost of Investment