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| Coalition demand millions for NHL Hockey Rink, Census Fines and Welcome Mat to Russians bombers |
The Economy
Economy: Review
Canada’s relative position among its peer group of countries has slipped. In the
1970s, Canada’s
GDP per capita was $17,812, the fourth highest of its peer countries, earning a “B” grade.
This grade was maintained in the following decade but dropped to a “C” average in the 1990s and 2000s.
Canada is being affected by a worldwide downturn. The world financial system crisis can be traced to aggressive
sub-prime mortgage lenders in the U.S. and to the lax lending standards of western European banks on their loans in eastern Europe. Of all the developed world’s banking sectors,
Canada’s is in the best shape. Its conservative and relatively cautious approach meant that, for the most part, Canadian banks did not get involved in the splurge in investing in mortgage-backed securities in the early to mid-2000s. As a result, no Canadian banks have failed or been forced to seek government help. Still,
the dramatic decline in U.S. demand for Canada’s exports, together with falling equity values and commodities prices, contributed to a 3.4 per cent contraction in Canada’s real GDP in the fourth quarter of 2008. Overall, Canada’s real GDP grew by only 0.5 per cent in 2008. Because the population growth rate was higher than the GDP growth rate, income per capita fell. -
Income Per Capita
If you ask the opposition, critics and media in Canada, they demonstrate an Alice In Wonderland approach to the Global Recession. They demanded thirty billion in October 2008, supported the minority led government since coming to power in 2006.-Everyone Loves Harper
July 2010- Overall, profits were down despite the fact that 15 of 22 industries reported higher profits. Declines were led by corporations in the insurance industry, as well as the oil and gas industry.
In the non-financial sector, profits decreased by 1.5% to $46.4 billion, while among financial industries profits declined 2.7% to $15.3 billion.
However, on a year-over-year basis, profits in both sectors in the second quarter were roughly 28% above the levels in the second quarter of 2009. -
The Daily 
The Liberals who came to power in 1993 through successive majorities unilaterally changed the rules on eligibility to reduce the benefits to the unemployed, they changed the premium to a payroll tax. The Liberals brag about their offloading to the Provinces, surpluses, and successive majorities. Liberals demonstrated they are less compassionate than the Conservative led government.
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| OECD Comparison of Total Tax Wedge |
In four other countries (Netherlands, UK, Korea and Japan), all three components of the tax wedge have increased. In other countries (for instance in Canada, Germany and Poland)
increases in income taxes are offset by decreases in (employee or/and employer) social security contributions.
Raising payroll taxes through the Back Door Liberals proved they were unaccountable. In a 7-0 decision, the court ruled EI premiums were inappropriately collected between 2002, 2003, and 2005. That's when the Liberal cabinet set EI rates directly without the authorization from Parliament and the employment insurance commission, a violation of the principle of no taxation without representation.-
Liberal Government Broke Law
In July, employment decreased in
educational services (regular summer layoffs) and in finance, insurance, real estate and leasing. At the same time, there were increases in manufacturing and public administration. Following strong gains in recent months, employment was little changed in July, with large full-time declines mostly offset by part-time gains. The unemployment rate edged up 0.1 percentage points to 8.0%.
When the teachers, support staff report back to work in late August the rate may dip below 8.0%
