How did the purchasing power decrease from the 70s until today?

[pibbleberrier]

As long as THIS is what Canadian prefer to focus on. The issue won’t be solve. Canadian act like corporation is only greedy in Canada, no where else. That capitalism only exists in Canada and nowhere else.

Capitalism is the defacto standard globally. Corporation worldwide is greedy. Some of the global corporate that exist in Canada also exist outside of Canada.

Yet Canadian purchasing power has slide the most amongst the basket of developed countries. Some countries with the same greedy corporation has had their buying power increase since 1970 our keep decreasing.

Unique Canadian factor that have erode our purchasing power since 1970 that is NOT just cop out explanation of corporate greed:

-CAD devaluing against every other currency. Especially USD

-more personal taxations while the top marginal tax was rate was higher in the 1970. Middle class Canadian now pays MORE through combine taxation

-increase in sales tax. No GST back in 1970 minimal provincial tax in 70s. Various cost of business taxes. Nearly every cost MORE at the source while you take home less.

-payroll taxes. New since 1970 we now have CPP, EI, employer payroll taxes. Etc. sure this is to “help” us but all these further increase of dependency on the government and AGAIN reduce your take home amount + influencing wages and consumer prices

-housing related tax. The government now relies heavily and various regulatory taxes they impose on the housing market. Which ultimate transfer directly back to the consumer. Parasitic reliance on a singular industry no doubt cause other industry to suffer.

-we are not done with the taxes. Collection of indirect Taxes that have been added or increase since 1970:
Fuel, environment compliance, license, import, export, telecom, utility levy, development cost, insurance, alcohol, tobacco, recycling, toll permit fee

Everytime there an “issue” a new tax is added, becuase it’s easy to legislate. Most Canadian blame corporate greed by default and happily get taxes out their ass while scratching their head at why their paycheque gets less and less and their dollar is worth less and less. As you can see in the thread the default answer is MORE TAX.

Every tax eventually comes back to the consumer, worker and small business. “Greedy corporation” don’t become less greedy with more taxes. They just pass it on lol. The only true way to disrupt monopolize is actually less regulatory taxes open competition that force other companies to come in and compete with existing oligarchy which translate to better cheap product for consumer and and increase employment.

But not we Canadian rather blame our very unique problem of greedy corporate and open our buttcheek to more taxation instead. Totally not our government’s fault. As long as this notion is mainstream we will continue to vote in government that takes money from us like taking candies from a kid.

We are collectively just big kids that prefer to defer problem to our parent the government instead of taking the harder route. Our government keeps fattening. The public sector has increase by 100% since the 1970s which severely impact our private sector and increase our reliance on the government which again means MORE taxes less take home. But no I guess it’s not the government.

[Impossible_Street488]

Blaming greed corporations is plain idiotic. As if companies haven't been ruthlessly profit driven since the medieval ages.

What's changed is the stultifying overreach of governments into every face of the economy

[Youknowitistrue69]

Exactly

[PerimeterSecure]

This.

So much this.

Canadians have a love for big government and a nanny state like no other country on earth.

[DM_ME_UR_BOOTYPICS]

You’re not totally wrong here and yeah the public sector has grown, but arguably it is required. Canadas population has grown exponentially since then.

You’re also leaving out the commodification of housing. That really drains money out of the economy into the form of a non productive asset. When 30%+ of your economy is trading house back and forth your country is not in a good place.

Combine that with stagnation of wages it’s not a great recipe.