Federal budget 2024: Billions in new spending, $39.8B deficit | CTV News

Political | 835 hits | Apr 16 1:20 pm | Posted by: Scape

In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social s

Comments

by Scape
Wed Apr 17, 2024 2:51 am

Hail Mary budget focused on massive housing push. No reserve and capitol gain on the rich 1%. Holding debt just under 40 Billion.
by DrCaleb
Wed Apr 17, 2024 2:38 pm
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.
by Scape
Thu Apr 18, 2024 1:19 am

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.

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.

Federal Revs/Exps
by DrCaleb
Thu Apr 18, 2024 2:32 am
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.
by Scape
Fri Apr 19, 2024 2:40 am

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.
by Scape
Fri Apr 19, 2024 11:25 pm

Nice pearl clutching there.

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