Servicing government debt will cost as much as healthcare, that makes me nervous: Rona Ambrose
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- เผยแพร่เมื่อ 16 เม.ย. 2024
- Rona Ambrose, deputy chair at TD Securities and former leader of the Conservative Party of Canada, and Carol Stephenson, director on the board of R B Global and Mattamy Homes, join BNN Bloomberg to analyze this year’s federal budget. Stephenson says there are no incentives to raise business productivity or to boost investment in the budget, and adds the new capital gains taxes will have a dampening effect.
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We can’t afford Trudeau any longer
We never could
Yup, man’s gotta go
I bet you voted for him fool????and now your complaining?????lol
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Please can you leave the info of your investment advisor here? I’m in dire need for one
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I love it. Not one government worker cut but let’s saddle the Gen Z and Millennial class with Trudeau’s debt for the next 40 years. Canada if on the route to being un livable.
Laying the seeds for revolution and annulment of the debt issued by a government working against the people..
Same is happening in the US
Matter of fact the MPs were all giving like a 8500$ raise thanks to Trudeau!
100+ years, more has been spent over the last few years than was spend during wwii
But but climate change!!!! Trans rights!!!! Harper!!! lol
1 billion dollars interest a week is STUNNING.. I am STUNNED
Thats what you get when Republiecans let their billionaire friends evade taxes with 15% rates while the middle class pays upwards of 25%. Reducing the government's revenues by 80% and then expecting the lower classes to make up for the revenue loss is pipe dream republiecan hive mind thinking.
it more than our cost of universal healthcare
@@ruhollahetemadi7518 just the federal portion, but yeah absolutely insane. Imagine the actual eco friendly energy projects that canada could build every year with that money!! And the income and jobs that could be generated of off that money.
The irony is that the capital gains tax now penalizes those long term landlords who have gained the most but also provided the most stability to renters by not selling, all while saving the guys who buy and hold for a year or two and then sell, forcing many tenants to have to relocate afterwards
Closing my business in Canada and moving it over seas. This government isnt gonna get a penny of my company's capital gains.
They damn will try pack your shit up now the west is done.
Establish your business in the cayman islands or bermuda, then pay yourself dividends which are taxed at a preferred rate, usually lower
Lots of wealthy Canadians gonna be rethinking their residency and where they keep their money. Not sure if this is what we want.
We do want that.
@@TheRalphsnartput my groceries in the bag already
Galen Weston already put all of his wealth offshore years ago. It speaks to his confidence in spending and being taxed on his own money in Canada.
@@TheRalphsnart 🤣
@@TheRalphsnart HELL YAAA. More tax $ for us Americans.
thanks bud
Anyone with half a brain has been saying for years that continuing to load debt will result in untenable costs to service that debt but were just told "GoVeRnMeNt DeBt iSn'T LiKe hOuSeHoLd DeBt" in response. Here we are now, and those people are nowhere to be found.
For everyone saying businesses are paying their fair share is wrong. You need to lower taxes so companies can hire more people, increasing taxes will cause companies to downsize/restructure. Overall there will be less jobs and foreign investments will be non existent. Good luck to future youths/people trying to get jobs when there will be barely any that gets created due to high startup costs.
God help us. We are burning to the ground.
That is why arsonists keep setting forest fires. wait until this summer !
Did you know that World Economic Forum Great Reset Agenda success, first requires Canada and the USA "to become weaker domestically, and on the World stage"? 100% true, and definitely not a coincidence.
Did you know that Finance Minister Freeland has held a seat at the World Economic Forum board of directors table in Geneva since 2019?
How that glaring public record conflict of interest fact never gets challenged in Parliament, and never gets mentioned anywhere in the Canadian Press for 5 years and (still) counting, should disturb all of us.
It does brother.
@@TheGuby123 Did you know that PM Harper went to Davos with Finance Minister Freeland this year? Did you know that PM Harper secretly sold off 100% of Canada's Gold reserves? The public record evidence of that ongoing situation never being mentioned in Parliament, and (almost) never being mentioned anywhere in the Canadian Press, should disturb all of us.
I am aware of this and it is scaring the sh*t out of me. Both Justin and Chrystia seem to be DELIBERATELY destroying Canada. (They cannot be THAT stupid?) The one light at the end of the tunnel is a video I watched by Pierre Poilievre stating that WEF will have NO position in his government. We just have to make it to the next election.
Who are you and how could we get this sh*t publicized?
Ah yes - the WEF conspiracy - I truly envy you. If only I had your faith in the intelligence, supernatural competence and utter omniscience that is presumed by those who claim world leaders with perfect foresight are pulling the levers of power to insidious directions. Unfortunately - a cursory study of any state for almost all of human history clearly demonstrates that this an absolutely insane assumption to make. Humans and human institutions are ALWAYS going to be flawed and over enough time - profoundly so. The scariest part of world leaders is NOT that they are secretly planning to ruin society and civilization to their own evil ends - the scariest part is the simple truth that they really don't have any better ideas than most people about how to deal with a world that is increasingly complex with harder and harder problems arising at greater and greater speed. Now let's add the practical delays for governments to respond to large crisis in the best of times being what they are - the future is dark - but not because of silly shadowy conspiracy claims.
Increases in the capital gains tax dissuades business investment in Canada. Higher capital gains taxes also infuriate beneficiaries of wills, who may need to take a loan to pay these taxes if the "deemed disposition" value of the bequeathed assets increased largely because of inflation. This is another Trudeau tax that needs to be axed
"Interest rates are at historic lows Glen" 🤷♀️
Not the debt you can't even compare.
A statement from an Idiot! " I don't think about monetary policy!"
They were at the time but now they are not, time to change the game plan and reign in spending
I was thinking that exact same thing
@@KeeKee166 Anyone paying attention at the time knew rates were only going to go up and much sooner rather than later. It was completely predictable.
Jag 'n Justin won't be happy until we look like Argentina - penniless, hopeless, and totally broken.
In any country if the middle class are not happy, the nation suffers. Poor get subsidies, rich evade taxes and middle class spend money and money changes hands to keep the country going and prospering. Canada’s middle class is spending most income on housing leaving less for disposable income.
And tens of thousands are leaving and shutting down businesses and jobs as they go. They aren't going to risk losing all of their hard work just to help save some entitled children in a socialist nightmare.
We know that debt servicing already costs as much as we spend on healthcare. Now debt servicing will cost more than healthcare. Hence Trudeau will borrow more money, and we'll have more debt to service.
“Interest rates are at historic lows, Glen.”
Gov needs to shrink not grow
BOC should increase interest rates to 8% otherwise the CAD is even more worthless.
People must know that Millionaires,, just get up and leave,,, dahhhh,,,, they must think we are all stupid,,,,, No incentive for economic growth,, we will all suffer and our children,,,, also,,,,,, Not being energy self-sufficient,, will be our demise I so hope Rona,, gets a high profile role in the next government
Taking my money out of this socialist swamp asap
You are the problem. get out and don’t come back for social security later. ✌🏼
@@NickFallsFromTheRoofprojecting much, move to Cuba commie!
@@NickFallsFromTheRoofLol, are you self employed? Are all of your friends self employed? If not think about where your paycheck comes from. And then understand how many millions will be affected.
@@NickFallsFromTheRoof lmao welfare queen preaches
@@NickFallsFromTheRoofnews flash… you can still collect social security living out of country, I do.
Kids vote liberal while their banks of parents are taxed 😂
whats wrong with that?
@@JessT-vg7ib nothing wrong, just tell kids go vote and get for your house and other free stuff from liberals, parents don’t want to cash out ( second house )for capital gains to help you. No problems
As a business owner, you hear the Gov. tells you they will help you go international . To go international you have to grow and be big enough to compete. When you grow business you might need to go public but this budget says the opposite.
So if investors can't get decent capital gains, they will insist on higher interest rates, right? This will also hurt competition, because the big players in the economy don't need investors as much as the up- and-coming.
Trudeau is rich and he knows he is on his way out in 2025, So he does as much damage to Canada, Trudeau already is sending Canadian military families to food banks.
I like Ms. Carol Stephenson--she was breath of fresh air. Ms. Rona Ambrose followed up with a good energy as well depsite throwing in the political points.
Amusing and unfortunate, but we should all know by now from the 1990s experience that raising taxes above acceptable levels will LOWER government revenue. This government is run by idiotic psychopaths.
Nailed it, Rona.
Precisely what happens when you put extremely incompetent people in critical government positions. Management matters. We haven't had any for 8 years.
Our part-time Drama teacher / ski instructor PM says that the budget will balance itself!?
Possibly the dumbest government in power to date..
The corrupt liberals dumping money into building houses is probably just another money laundering scheme to fill their own pockets.
It is a pyramid scheme and is going to turn Canada into India really quick and we will have endless jobless here while more and more people flood into the country.
This irresponsible government is negating all the savings that were done until 2016.
Then we will need to pay, un the Canadian People, for their outrageous spendings and their lifetime retirement pensions.
Revolting, truly revolting when the majority of us is broke and cannot sometimes afford eating and/or shelter because of these same politicians and the inflation that they are responsible for.
I for one would like to see them made responsible for their outrageous spendings and cut their pensions and recover from their goods as a function of their management of the country finances, somehow.
This is creating an insane level of dependency for the government. This is horrible.
Why do people and businesses continue to invest their energy into a credit-based system with an insolvent debt?
When you create a lawyer, you create a person that generates rules, and then, when you have these lawyers that take over the government, then you have a government that generates rules what blurs the line is, how lawyers jump from corporate to government and back to corporate creating, the rules rules that suppress. And all of that out of your ethical business. Universities. Look money needs to circulate and it’s not circulating right now and there lies the problem.
Just because we are Canadian doesn't mean we have to stay here. There's a world out there which are more inviting.
Just another tally on a stellar and amazing record of the liberals
It makes me furious.
Then investors should make real investments to create active income, not accumulating passive capital gain income through short term buy and sell houses, which not creating real value to the society.
How the fuck with high taxes does canada is being in debt too.
Stop blaming trudeau. Blame jagmeet for keeping the non-confidence vote out of scope.
We are overdue for a change in government. Did you hear that, Jagmeet?
This budget should come last year.
And WWII veterans came back to Canada in 1945, hunkered down and paid down the national debt in two years, by 1947.
They'll soon be coming after the principal resident exemption- how else will they pay the interest payments on the debt? 😡
“But Glen, interest rates are at all time record lows” - JT circa 2021
What blows my mind is that you will hear some economist dude of some type say that we can handle this amount of debt.Where do these guys come from.
It is not boring. It was an insult to all Canadians. Where all graduates from the Ivy school of business.
My question is, where is this money going? Who is collecting all this interest money from our national debt?
Canada issues debt because they have to borrow money from investors (other countries, individuals, entities). It's like borrowing $ from a bank but on a country scale
@@SM-sc7nf
I get that. These sums of money are insane (in my mind anyway), so just how rich are these people that hold out debt?
@@NorthofYou1the banks take depositors moneys and they buy us and canadian debt. they pay out less in interest than what the government pays them so they make a profit. if 10% ppl pulled their $ out of banks the system would collapse. it's mainly banks who hold the bonds in their books.
Ordinary person deposits money at bank, bank loans it to the government, person is fooled into thinking his money is there. fractional reserve banking is cancer
China
China owns a ton of it.
How about you think of the military budget as a comparison instead of a necessity like healthcare Trudeau. Might help everyone feel better a bit /s
Mine some gold, government! Free money underground
I dont want the wealthier to be taxed more. Id love to be in that group one day.
Continue to ignore the Quantity Theory of Money and the ditch we are in will become stagflation.
Apparently appointing a life-long journalist as Finance Minister was a bad idea.
Servicing or not servicing the debt is bad no matter what.
Read Trudeau’s lips “I’ll be blunt as well, housing is NOT a primary federal responsibility”
What we really are missing in the budget, is the performance bonus for Trudeau, Freeland and all the ministers.
They work so hard to milk money out of Canadians, and they sure deserve something, right?
Oh god imagine if their revunues are less than predited AND they try to up spending next year. We might end up with my generation bejng a basket case tied to neverending sebt, nevermind if there is any other shocks.
Liberals truly crunched
GOVERNMENT SPENDING CAUSES ALL INFLATION!! Buy gold sell dollars central banks and high net worth individuals are doing it maybe you should too..
Yeah, let’s continue with the race to the bottom instead.
The issue is that some Canadians look at US as role model.. please look Europe and learn from nations that actually care about their own people. US is not a role model for Canada on healthcare or social policies
Lol. Not an issue. The US is a great country and Canada can learn a LOT from Americans.
@@BuccaneersBliss a great country does not allow their own kids to die each year in schools shootings while they fund wars around the world. Sorry not a good example for us
@@BuccaneersBlissoh f***.🙄
Europeans just take advantage of America protecting them via NATO.
This is the type of propaganda youtube/google pushes while silencing truth.
So much in debt what do you expect ? More spending ?
Why start a business when you can ask for government handouts? Think of leaving Canada and working elsewhere. US anyone? I am thinking China.
Should have made a ha lal budget.
People need to set more quality life gials and not expect to win the hack pot. Great if we do...bring it on. But in tidays world the humble home we once purchased as a lufe ling dream home is almost as transient as a rental.
We need to retyrn to the udea if a home as a secure and nurturing oersonal soace. Landords and mortgage comoanies and hoyse buyers. A house owner vs a renter? Both, live in their own home. Words have a powerful imoact on how we percieve oyrselves and others.
This terminology is a sham and it is toxic. It adds nothing to the well being of our society, our communities, or our luves.
Why? More Accountability? Hundreds of millions are stolen in some cases by individuals exploiting any means they can find to build fantastic wealth through questionable means. You should have been nervous starting a long time ago.
I’m all about capitol gains tax but I’m not in the target audience for this show
Oh I love to hear more from politican crooks 😂😂😂
Showing sympathy for real-estate developers having to pay a capital gains rate that is still far less than middle class tax rates is a real kick in the crotch for every working class tax payer ,most of who will probably never even afford a house going forward . Go build an appointment complex in Haiti then ..
i hope life becomes better for me most of my salaryy is going to rent a roof
It won't
@@dev4statingx90 😢😢😢
Keep voting liberal and you’ll keep getting poorer
Good luck replacing that roof. Have you seen those prices? $20k.
@@mr2_mike yes crushing my soul and life
Time to move to Bahamas
I thought AI was going to take half of our jobs.
Everyone ask your MP for your interest-bearing account-based central bank digital currency. Together, we the individuals can defeat the deficit.
The capital gains change is within the ballpark of the EU and US. The Libertarian thinks that adversity is good for the poor but it just holds them back. A little sharing is good for all. Money will find innovative people who have good ideas and execution. Bell, Edison, Jobs, Gates ... were in the comfortable middle class. We need more people with the opportunity to join the middle class.
lies
@@tommcd8471 How?
The poor are poor because they are dysgenic no economic policy is going to make me stop being schizo or stop poor impulse control idiots blowing all their cash on booze and lottery.
bandages 😅.....
Well its probably still not expensive enough and the employment rate isn't high enough because there are still dummies in the comment section that thing this is "good"
Top down centrally planned economic development using the public purse is Communism! It's most definitely not free market capitalism! We all watched that fail miserably for the U.S.S.R.. We're all watching it fail miserably for Canada now. In Canada there are far too many in the private sector who look to the public purse for profit instead the free market enterprise they're supposed to. If you don't see the problem with this then you really don't know or understand business and economics well enough to say anything about it! The private sector in Canada has been molly coddled and babied for far too long with borrowed taxpayer dollars. This has interfered with the free market's natural selection process. As a result we have far too many enterprises who wouldn't survive in a real free market capitalist economy hurting productivity and dragging the economy down. We're in a economic death spiral from this with no sign of a turnaround yet. Why has all this trouble with "affordability" been increasing in lock step with ever rising record GDPs while at the same time public taxpayer debt also grew to record levels? Where is all the money going? Into the private sector of course! The private sector needs to start paying it's share in wages and taxes. It's the only way out of this death spiral that we've actually been in since the 1980s. Up to now we've just been borrowing money to hold that off. Now we're getting to the place where servicing that debt is making this less and less effective.
Let's try this another way. The majority of working tax payers in Canada are minimum or near minimum wage earners. They are the ones being hit hardest by the death spiral. The private sector claims raising wages to address the "poverty" (the real name for it) would take away all their profits. So this massive cohort in the economy has to look to government low income supplements (welfare) and food banks (charity) to make up the short fall. They are welfare and charity subsidized workers. This makes their employers welfare and charity subsidized enterprises. The employers are depending on welfare and charity for their profits! The kicker is the employers who are the ones who really need the welfare and charity and the ones who profit from it aren't the ones who have to go out and beg for welfare and charity. Their employees have to go do it for them. The employers can keep playing themselves they're hip and happening entrepreneurs helping the economy by supplying jobs. They can deny they're the welfare bum charity case enterprises they really are!
You most definitely do not have a healthy economy when every employer in the country with minimum wage workers, from corporate to the local corner depends depends on welfare and charity for profits! I'll say it again. The private sector needs to start paying it's share in wages and taxes! The increases to taxing the wealthy and corporate in this budget are only a small fraction of what needs to be done!
Communism FAILS everywhere, every time
China
Canada
California
Colorado
Habibi leave Canada and Come to Dubai ✌️
Blah blah bla bla
Ambrose is a maga cultist. She's lying.
ponzi
Good. I'm glad the companies are paying more tax.
Why would you ask companies about this??!!
Why not ask the average citizen.
The average citizens will be out of jobs soon because companies will restructure/downsize because of the higher tax. Good luck paying your mortgage when there will be less jobs overall
If the rich want to leave Canada , the Gov. should charge them a 50% Leave Canada Tax, and free there assets until they pay, but be smart cause the rich will start to filter out there money if you announce this, so don't announce it just do it when they leave.
There are plenty of ways to make sure this capital gains tax doesn’t hit the rich. We need lean government and inviting business environment, this does the opposite.
Its not the "rich" being punished by this, its the average small business owner like myself who leverages investments to stay afloat. I will be closing my online business in Canada and moving it over seas. For tech businesses this is a no brainer.
Liberal thinking
Trudeau is a visionary leader!
If your vision of Canada is slums and no doctors then yes
Finally...businesses paying their fair share.
EXACTLY. ASK A TAXPAYER in the middle to lower income.
Yessss
You contribute less and pay less taxes, if we had a country full of low contributors we'd have no innovation or job creation
@@Cutlerypotato you mean like amazon that pays 0% in taxes whereas their workers actually contribute? you dont actually understand how the system works...its more like the businesses that "contribute" more pay nothing but those who contribute less actually pay the taxes that the government then gives to businesses as subsides
Capital gains gotta be the biggest scam I have ever heard of!
A another truck load of liberal bs
Great comments
All these comments act like its a Canada problem. Have you seen the interest payed in USA or more than half of European Countries?
It's about the CANADIAN budget. Hence the Canadian comments...
I was refering to comments like "closing my business and moving it over seas". That brings other countries into the conversation when your making a relative comparison like that.
I agree it doesnt make it any better here on an excuse, but i was pointing out the hypocracy of those specific statements i seen all across forums and a couple on this video too
Instead of learning from China on how to grow an economy, Communist Trudeau learns from the Soviet Union instead. 😢
China is going down the toilet , they aren't much better then the soviet union , they only survive from slave labor from north Korea and from with in.
@@user-yf9in9hb3o is that what Western MSM propaganda has taught you to believe in??? No wonder China is beating the West economically at every turn. People in Canada works a lot longer hours than people in China do.