In digging through some old emails looking for something else, I happened across a document that I had long forgotten about. I was on the board of the Wildrose Party at that time and ran for them in the 2008 election. Somebody leaked a Progressive Conservative riding projection document along with comments to us in late 2007.
There is nothing earth shattering within the documents. It really is of interest primarily to political wonks who were active at that time. It is neat looking back to see how the party in power looked at those constituencies at that time as the comments are somewhat candid though hardly scandalous.
I have no idea who the author was or who leaked it to us way back then. Since the PC Party no longer exists and not a single PC MLA within the document is still in office, I see little harm in sharing this now.
It is striking how the legislature has had an almost 100% turnover in the last 11 years.
I don’t have the time but will likely drill down later to see how accurate the predictions were. At a glance they looked to be mostly accurate though some of the ridings hadn’t even finished their nominations yet.
I do love the above quote from Hayek and use it often. The goal of this post is not to try and reason with socialists. They are as lost cause as far as economic understanding goes. I do want to clarify just who benefits from healthy profitable corporations though as myths and misinformation on that subject are par for the course from defenders of big government. Non wonky people (the majority) don’t really put much thought into where corporate profits go and how they may benefit them. They are too busy working and paying taxes.
While we constantly hear of them and see them in the news, those corporate barons who rake in billions are actually pretty few and far between in the scheme of things.There are not many of them out there and contrary to popular belief they don’t hoard their cash and swim in money bins. They tend to re-invest their profits which of course keeps economic activity pumping.
While they may not know it or like to admit it, union members are some of the biggest beneficiaries of corporate profits
The Ontario Teachers Pension Plan has fantastic growth and is worth a staggering $189.5 billion dollars!
I say good for them.
What has made that plan value grow like that over the last 27 years though? I hate to break it to folks but the majority of growth comes from corporate investments and profits.
In other words, raising taxes on corporations will simply take a bite out of the pension plans of teachers. Yes those corporate fat cat types will pay a as well but as noted before, they are in a small minority.
Corporate profits are what makes RRSPs and mutual funds grow as well. If you have any sort of private plan, you are a corporate shareholder and those taxes will reduce your return.
You will pay taxes yet again on those funds when you convert them by the way. How many times and how much tax do you want to pay on your retirement?
But what about folks who don’t have private or union plans? What about people who are counting on the Canada Pension Plan?
Well, the CPP is of course as dependent on corporate growth as much as any plan is. To increase corporate taxes is to take a bite out of the return on investment for every person in Canada who contributes to the CPP.
Yes kids, the fund is worth $356 billion and that makes you a corporate shareholder. I guess if you never want to see the fund grow faster than inflation you could support higher corporate taxes but that really won’t make anything easier on yourself.
Not every dollar earned by a corporation goes back out to shareholders of course. Billions of dollars in corporate profit are re-invested which employs millions of people and generates billions more in taxes in the long run. Every dollar taken out of corporate profit through taxes however is another dollar that won’t contribute to economic growth.
Corporations are indeed bound by the goal of making a profit. They are impersonal and make decisions based on what will best serve the corporation. That means that the higher that a jurisdiction raises corporate taxes, the higher that chance that corporations will leave that jurisdiction in search of lower taxes. It isn’t personal, its math.
Calgary’s downtown is in a crisis with nearly 30% vacancy in downtown office buildings. If we want to bring investors and tenants back, one of the best things we can do is cut corporate taxes. We need to make ourselves more attractive to invest in and unfortunately with the triple whammy of high tax leadership from Nenshi, Notley and Trudeau, Calgary has become one of the worst places for businesses to invest in all of North America.
We can turn that empty office space into an opportunity but in order to do so we must cut taxes. Corporate taxes are among the easiest taxes to cut and we will get the most return in economic stimulus for doing so. We have to start getting rid of our high tax leadership in Alberta first of course. It is looking likely that Notley will be leaving office soon and then we can work on changing the other two levels of government.
Assuming that Jason Kenney becomes Alberta’s next Premier and that he keeps his promise of corporate tax cuts, don’t fall for the simplistic and inflammatory lines about the money lining the pockets of millionaires. Those tax cuts will help the line of each and every person in Alberta including you. Those cuts will help keep you employed today and keep you comfortable in retirement in the future. Celebrate them.
Conventional media around the world is having a tough time adapting to the information age. Newspapers are restructuring, merging or simply closing their doors as digital news makes the initial medium obsolete. Ad space on a news website sells for a fraction of what print ads used to. Television news is having a terrible time in drawing viewers as they are forced to compete with hundreds of channels including on-demand packages such as Netflix. Radio stations are losing listeners to satellite radio and podcasts. It is simply damn tough for media to make a buck in that environment.
One niche that conventional media continues to hold is that of traditional reporting. Bias should be set aside for reporting and most publications and reporters do so. Blogs and YouTube videos are no substitute for reporters on the ground or trained correspondents around the world. My blog for example is highly biased and selective in what it will report upon. It is no substitute for proper media and I don’t claim it is. Few blogs are though people are increasingly and unfortunately using them as news sources.
The cry of “fake news” is constantly trotted out from people on all sides and all levels of the political spectrum. There truly is fake news out there and it is getting more and more difficult to sift through it for the truth. Cynicism is growing among the populace and people are losing trust in media from all sources. Ironically that tends to drive people even further to “alternative” sources of information which exasperates the situation even more.
Reporters are expensive and as media revenues continue to plummet we see more contraction of media outlets as they try to say solvent. In news reporting, accuracy and a lack of bias are critical if this niche is to be held. Media sources need to be trusted if they are to survive. The actions of the Trudeau government have been destroying that trust.
Now in establishing that there is a problem facing media today, we needed only wait for government to intervene and make the problem worse. Trudeau of course did exactly that.
Perhaps it was well meaning but it is impossible to tell. In dangling $600 million in tax subsidies for media outlets last fall, the Trudeau created more distrust in the Canadian media than dozens of shitty editorials ever could. Whether it is the case or not and whether it is fair or not, it now looks like Trudeau outright bought the favor of Canadian media.
The statement below makes it even more galling to folks:
An “independent panel” eh? This handpicked panel shall define journalistic standards no less. In other words, the government will pick and choose who they deem worthy for this subsidy. How many media outlets will or have danced like trained monkeys in order to get this subsidy which is being dangled in front of them? We may never know but it casts doubt upon the credibility of every media outlet that may qualify.
Defenders of this subsidy scheme could try to dismiss opposition to it as being paranoid or too cynical. Well, in light of last week’s revelations from the Jody Wilson-Raybould it is clear that concerns about government control of media are very justified.
There were so many bombshells dropped in JWR’s testimony that it is hard to keep track. One striking statement however was on how Trudeau’s Chief of Staff made assurances that they could get favorable media when they need it.
Here is the exact quote: “Katie Telford thinks it gives us cover in the business community and the legal community, and that it would allow the prime minister to say we are doing something. She was like “if Jody is nervous, we would of course line up all kinds of people to write op-eds saying that what she is doing is proper.””
“All kinds of people”? Which people? Which publications? Which channels?
This is not minor people. I and I am sure many others now look at every article out there wondering whether or not it was created by one of those “all sorts of people”. I am sure that the vast majority of articles and op-eds out there weren’t directed by the Prime Minister’s office but how the hell am I to know which are which?
Shortly after Trudeau fired Jody Wilson-Raybould in January, the Toronto Star leaped into Liberal spin mode in trying to justify the move.
That was a rather well timed hit piece on Jody Wilson-Raybould and it came out well before the scandal broke. It certainly makes one wonder how fast those “all sorts of people” were rounded up to start trying to spin on what has turned into the biggest Canadian scandal of a generation.
One almost feels embarrassed for Heather Mallick with the Toronto Star as she clearly participates in journalistic prostitution of the highest order. Mallick has churned out piece after piece trying to tell Canadians that there is actually no scandal to be seen. It is almost nauseating to read the tripe she has written in hopes of distracting Canadians from this massive scandal while currying favor from Justin Trudeau.
Mallick’s lame efforts remind me of good old Baghdad Bob who tried to assure Iraq that all was well while the rockets were literally landing behind him.
Rather unconvincing to say the least.
Time will tell whether Mallick will get that Senate seat that she so clearly covets. Perhaps she is even aspiring to the Governor General’s throne.
It is going to be tough but now is the time for media members with integrity to step up and help assure the Canadian public that they are not simply a tool that has been purchased by the Canadian public. Most media members are truly independent but now it will be incumbent upon them to convince us that this is the case. It’s not fair but that is how things stand today.
Media credibility was in tough shape months ago. Trudeau’s recent actions have unfortunately left it in tatters. Let’s hope that they can recover because an independent media is critical to a free society.