Recession just around the corner?

[Stompin Tom]

The simple fact is the NDP did not cause the downturn in the economy, but they have helped grease the slide. One hopes that the government makes moves to help business weather the storm, not move to hinder them.

One other fact, if an employee wishes to be successful, he needs the company he works for to be successful.

 

[Keith Brown]

Maybe, but the NDP went out and reinstated $3.5 Billon in spending cuts the day they took office. Wonder where that cash coming from? That's just a start look out for their budget once the federal election is out of the way.

Didn't prentice announce that he was going to raise personal and corporate taxes along with bringing back the Health care fee before he called a election?


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[Caper11]

Maybe, but the NDP went out and reinstated $3.5 Billon in spending cuts the day they took office. Wonder where that cash coming from? That's just a start look out for their budget once the federal election is out of the way.

That's what concerns me, I'm afraid this downturn will turn into a recession if the conservatives do not continue after the election.
I don't agree with everything Harper has done, but I'd feel more at ease if he was at the helm, than those other two.


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[deaner]

So Deaner, you an employee or an employer?

We can spends hours and hours going around and around on the math again, but it is in fact a true 20% increase in direct costs to the company in a down turn economy. It hurts like hell.

I am self employed. I have been both an employee and a business owner.

No its not. Youre spinning the numbers. Its a 20% increase in the ridiculously low existing tax rate. Again.....this tax is on NET profit. So after all write offs. You look at the difference in being a sole prop and being incorporated.........what is kind of tax are you going to pay on net profits with each one? Tax isnt a cost. Its your contribution to society from what is left after all of your actual costs have been deducted from gross revenues.

Again.....Im definitely not a believer in tax and spend goverment mentality, but bottom line we need tax revenue to pay for schools, hospitals, roads, etc. You look at personal tax rates compared to what these corporations are paying and going from 10 to 12% is friggin peanuts.

 

[Caper11]

I am self employed. I have been both an employee and a business owner.

No its not. Youre spinning the numbers. Its a 20% increase in the ridiculously low existing tax rate. Again.....this tax is on NET profit. So after all write offs. You look at the difference in being a sole prop and being incorporated.........what is kind of tax are you going to pay on net profits with each one? Tax isnt a cost. Its your contribution to society from what is left after all of your actual costs have been deducted from gross revenues.

Again.....Im definitely not a believer in tax and spend goverment mentality, but bottom line we need tax revenue to pay for schools, hospitals, roads, etc. You look at personal tax rates compared to what these corporations are paying and going from 10 to 12% is friggin peanuts.

Unfortunately I have to be the devils advocate on the 10 to 12 percent increase in tax.
That extra 2% can mean an extra 10 million out of a larger corporations bottom line, at year end.
With the price of oil as low as it is that's a loss a company tries to recoup, and unfortunately it's in the form of cost reduction that trickles down to layoffs.
Now was not the time for nothead to increase corporate taxes, IMO.


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[niner]

Unfortunately I have to be the devils advocate on the 10 to 12 percent increase in tax.
That extra 2% can mean an extra 10 million out of a larger corporations bottom line, at year end.
With the price of oil as low as it is that's a loss a company tries to recoup, and unfortunately it's in the form of cost reduction that trickles down to layoffs.
Now was not the time for nothead to increase corporate taxes, IMO.


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So if a company has $500,000,000 in profits and pay 10% in taxes they will owe $50,000,000 in taxes. Now at 12% they will owe $60,000,000. Those are the numbers to pay $10,000,000 more in taxes.

 

[bobsledder]

Well, we (Alberta) voted them in big time! We are going to get what we deserve - hang on for the next four years.

I didn't vote them in,,, but as of OCT 1 get to pay an extra 5% income tax retro active to Jan 1. 5% I wont be spending at any ones retail store

 

[Caper11]

So if a company has $500,000,000 in profits and pay 10% in taxes they will owe $50,000,000 in taxes. Now at 12% they will owe $60,000,000. Those are the numbers to pay $10,000,000 more in taxes.

Yes that is correct, that was the profit figure I chose.
I fail to see your point tho, whatta getting at? My exaggerated figures?
Bigger companies take bigger losses, with bigger negative outcomes with it, like layoffs.

My point was that no one likes to pay more than they have to, no matter what their bottom line is.

With the new personal provincial tax rate, even tho our provincial taxes are really low.
I estimate my taxes will go up 4500per year next year, x4 possible years the NDP will be in.
Well that's money I'd like to put towards my kids collage fund.



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[X-Treme]

Didn't prentice announce that he was going to raise personal and corporate taxes along with bringing back the Health care fee before he called a election?


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As well as a provincial sales tax.

 

[catalac]

My issue with our ndp gov is not what they have done but what they have not done, nothing that I can see. Stimulus is non existent rather than increase corporate taxes and personal taxes they should have lowered them until it picks up again to help companies stay in the black.

 

[TylerG]

This is just the tip of the berg... T
at finning...

They've already cut 500-700 earlier in the year. Closed 5 or 6 branches between Alberta & BC, then announced the purchase of Kramer CAT. Now they are strategically reducing by another 350 based upon business levels.

 

[rzrgade]

They predict this as a 4 to 6 year thing.....,it will get much worse before it gets better. We are one year into it....
if we end up with an NDP government , it will never come back as we once had it....
As well ,they have little faith in our current provincial government to boot!

 

[Joholio]

Oil is up again today!

 

[Bigblack]

Is Alberta's Energy Sector Ready For a Double Dose of the New Democrats? - Alberta Oil Magazine | Canada's leading source for oil and gas newsAlberta Oil Magazine | Canada's leading source for oil and gas news

 

[X-it]

Kevin O'leary calls what the ndp is doing in Alberta nothing short of a Horror Movie and if there was any way he could he would sue them....jess the guy does not even live in alberta.

 

[neilsleder]

Kevin O'leary calls what the ndp is doing in Alberta nothing short of a Horror Movie and if there was any way he could he would sue them....jess the guy does not even live in alberta.

Nor is he a politician. I not a fan of the NDP but I not a fan of Kevin either. He is saying all this sh!t only to make a profit somehow for himself. Everything he does is for money.


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[hevy_chevy67]

Kevin O'Leary is our Donald Trump. I agree in principle in some of the stuff he says but he goes way too far and is just a media whore.

Kevin O'Leary: He's not a billionaire, he just plays one on TV - The Globe and Mail

 

[bobsledder]

Kevin O'Leary is our Donald Trump. I agree in principle in some of the stuff he says but he goes way too far and is just a media whore.

Kevin O'Leary: He's not a billionaire, he just plays one on TV - The Globe and Mail

Interesting read.... That guy really is a rearender

 

[X-it]

We had the ndp for 2 terms in BC. It dam near bankrupt us, and you guys still have years to go with them. Well I guess on the bright side everything will be much cheaper in two years time.

 

[SLEDBUNNYRACING]

We had the ndp for 2 terms in BC. It dam near bankrupt us, and you guys still have years to go with them. Well I guess on the bright side everything will be much cheaper in two years time.

Well that was comforting....lol


Tapatalk....well I'm happy with you now....thanks for the fix.