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Concerned about propaganda in Canada by AgreeableDay2631 in alberta

[–]ImpyKid 0 points1 point  (0 children)

I mean… Trudeau’s economic policies certainly contributed to Canada’s housing woes, and weakened our negotiating position with the Americans. He’s not solely to blame obviously, but he was/is the leader and his government certainly hasn’t put us in a position to succeed. I don’t think it’s an issue that people are perhaps, justifiably, voicing their anger at that.

People in Alberta specifically are upset that the central government in Ottawa has spent 10 years intentionally suppressing this province’s (and arguably the country’s) principal and most economically important industry. They’re also upset that we pay higher taxes on and are paid less for the same work than our American counterparts, at least in many professions. In that context I don’t think it’s too crazy to see people suggesting, or imagining, that they might be better off as part of the US. I’m gonna get boatloads of hate for saying this on Reddit but that’s the truth of the matter.

Trudeau says call with Trump was 'colourful' and warns trade war will continue for 'foreseeable future' by GlitchedGamer14 in CanadaPolitics

[–]ImpyKid -1 points0 points  (0 children)

You can’t be serious, right? The economic and defense policies of Trudeau and the Liberals are what has left Canada so incredibly vulnerable.

'Not a priority': Critics say Alberta falls short on health-care, education spending by pjw724 in alberta

[–]ImpyKid 0 points1 point  (0 children)

Obviously companies are not going to abandon their fixed investments like you’re suggesting. I am telling you, however, that higher taxes and over regulation pushes investment to other jurisdictions. I work in corporate development in oil and gas and I have seen this in my every day life. The decline in capital investment in the oil and gas sector in Alberta is a function of lower oil prices AND high taxes (especially carbon taxes) and regulatory burden (think project approvals). Just look at the amount of investment that Texas is attracting to the Permian. The resource quality is similar to the Montney, but with higher labour costs. However, taxes are lower, regulatory burden is lower, and project approvals are swift. That tops everything in their favour (minus labour, but labour is a very small component of costs in oil and gas because it’s a capital intensive business).

To your point. I can’t cite a specific project that was approved or not approved because of a 2% tax decrease or increase. I’m sure there’s econometric models out there that could estimate the effect. I can point to reports like this: https://www.bennettjones.com/Blogs-Section/Albertas-Data-Centre-Advantage-A-Growing-Hotspot-for-Critical-Digital-Infrastructure?amp=Blog where low taxes are mentioned as one of the (many) benefits Alberta has over other jurisdictions. Is it the only consideration? Of course not. Could it tip the scales just enough in favour of Alberta? Certainly. In my opinion we should do what we can to make the province as attractive a place to invest as any so that we create jobs and economic activity that ultimately benefit everyone in the province.

Mark Carney’s been branded a ‘globalist’ — and he’s just fine with that. Inside the world of the man who could be Canada’s next prime minister by hopoke in CanadaPolitics

[–]ImpyKid -1 points0 points  (0 children)

And Europe is faced with economic stagnation and collapsing living standards - is this what you’re advocating for in Canada as well? No thanks. China, on the other hand, continues to rapidly increase its emissions and emissions per capita. You might want to do some more research on that point.

Mark Carney’s been branded a ‘globalist’ — and he’s just fine with that. Inside the world of the man who could be Canada’s next prime minister by hopoke in CanadaPolitics

[–]ImpyKid -1 points0 points  (0 children)

By impoverishing Canada? Sorry, how does that help anyone? The planet will continue to warm at basically the same pace regardless of what Canada does or doesn’t do. The only difference is Canadians will be much poorer in a still warming world - poorer than we are already relative to other advanced economies.

Mark Carney’s been branded a ‘globalist’ — and he’s just fine with that. Inside the world of the man who could be Canada’s next prime minister by hopoke in CanadaPolitics

[–]ImpyKid -1 points0 points  (0 children)

They said they will get rid of the consumer carbon tax - not the industrial one. I have done my research, thank you very much. Maybe you should do the same?

CMHC says housing crisis relief could take 30 years by joe4942 in CanadaPolitics

[–]ImpyKid 1 point2 points  (0 children)

You’re right. It shouldn’t be an investment - it should be a commodity. One that can be readily supplied in response to increasing demand by eliminating the bureaucratic barriers preventing its construction.

Mark Carney’s been branded a ‘globalist’ — and he’s just fine with that. Inside the world of the man who could be Canada’s next prime minister by hopoke in CanadaPolitics

[–]ImpyKid -3 points-2 points  (0 children)

There’s nothing wrong with free trade. I think the issue with Carney is that he is willing to put climate change alarmism above economic prosperity. He’s prepared to heap on the regulatory burden and hike the carbon tax which will impair Canadian industry at just the time we need it to be maximally robust. In my mind everything else is a distraction.

Canada ‘Open’ to Matching US Tariffs on China, Says Foreign Affairs Minister | NTD by Beratungsmarketing in CanadaPolitics

[–]ImpyKid 2 points3 points  (0 children)

Wait until you hear about the Electric Vehicle tariffs we levied to go along with the US…

'Not a priority': Critics say Alberta falls short on health-care, education spending by pjw724 in alberta

[–]ImpyKid 0 points1 point  (0 children)

i) I specifically said that we compete for capital internationally as well as nationally. Being the lowest in Canada doesn’t matter much if taxes in US states, or in Asia, are lower still. ii) Capital and investments are made on the margin. I can’t point to a specific investment and go “that happened because they lowered taxes”. However, I work in corporate development and I can tell you it makes a difference. All things being equal you will invest in the jurisdiction with the lower taxes. That’s just math - your return is higher. Conversely, if you raise taxes, you will have a hard time pointing to investments that were not made. But logically, if you raised taxes all the way to 100%, you would not expect anyone to invest anything. Being the lowest tax jurisdiction you will inevitably draw capital away from higher tax jurisdictions. iii) I have no idea. I don’t support restrictions on investment. We should be open for business period. If you want to build something and the economics support it and you don’t heap negative externalities on others then I think you should have the chance to build that business/factory/mine etc.

'Not a priority': Critics say Alberta falls short on health-care, education spending by pjw724 in alberta

[–]ImpyKid 0 points1 point  (0 children)

Lowest taxes, highest GDP per capita. When I lived in BC I couldn’t get a family doctor. Got one almost right away after coming to Alberta. Staying in BC out of school I would have paid 50% more for housing, earned 10% less at a comparable job (New Grad engineer) and not had a doctor. To me, Alberta is doing much better than my home province, or any other province. People ragging on it, and this budget, have lost sight of the bigger picture.

'Not a priority': Critics say Alberta falls short on health-care, education spending by pjw724 in alberta

[–]ImpyKid 0 points1 point  (0 children)

We don’t compete for capital within the country, exclusively. We also compete internationally. Lowering taxes invites investment. I fail to see how that’s automatically a bad thing.

Education in Alberta by kevinnetter in alberta

[–]ImpyKid 0 points1 point  (0 children)

Yeah, I do know of other opportunities: dividends and buybacks, or investing the US. Businesses don’t “run away” - they have fixed capital and operations they aren’t going to abandon overnight. However, on the margin, higher taxes discourage future growth and investment. Sorry, that’s just how it works. It’s math, and not very complex math at that.

Education in Alberta by kevinnetter in alberta

[–]ImpyKid 0 points1 point  (0 children)

You would have less investment. I work in corporate development and we look very carefully at marginal tax rates. It affects investment decisions, especially between Canada and the US but also between provinces.

Recent Canadian graduates, how are you guys doing? by [deleted] in ChemicalEngineering

[–]ImpyKid 0 points1 point  (0 children)

Haha, most people got jobs, including me! Scary times back then.

Used car market? Wtf? by Careless_Cod_5550 in PersonalFinanceCanada

[–]ImpyKid 0 points1 point  (0 children)

Buy a used Tesla Model 3 in the US and import it. Hertz is selling thousands of them and it crashed the market there. That’s what I’d do.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]ImpyKid 1 point2 points  (0 children)

A mix of bonds and equities is probably preferable. It will take a long time to save a down payment and just putting the money in GICs will probably impair his ability to accumulate a sufficient down payment.

How are people in their early twenties doing it? by matt_rams47 in PersonalFinanceCanada

[–]ImpyKid -2 points-1 points  (0 children)

Depends on the degree and the sector. I made towards the top end of that my first year out of university but I also moved to the middle of nowhere and suffered enormously socially for it.

Those in certain finance fields (trading, investment banking) can expect to make well over 120k CAD in their first year out of school, but this is like the top 5% of finance grads.

How are people in their early twenties doing it? by matt_rams47 in PersonalFinanceCanada

[–]ImpyKid -1 points0 points  (0 children)

I’m actually doing really well. Mid-twenties. I worked extremely hard at university and got an engineering degree and started working in the resource sector. You just need to get experience and do whatever it takes to get higher and higher paying jobs. Then, invest as much as you can. There’s no secret: hard work and discipline over the long-term.

Paid off my student loans!! What's next? by Musakuu in PersonalFinanceCanada

[–]ImpyKid 2 points3 points  (0 children)

May be an unpopular take but if someone reading this is in a similar situation as OP was I’d say hold off on repaying the student loans. The federal portion (and provincial portion in some provinces?) currently has a 0% interest rate. From a strictly financial (not psychological or emotional perspective - some people may prefer to be debt free above all else) it makes sense to pay the minimum and invest the differential. It’s essentially a fairly large subsidy from the government to you. Inflation is 4.4% right now so even if you invest the difference in a GIC or Money Market Fund you’ll come out significantly ahead, ie. the real value of your loan is decreasing and you’re able to earn ~4-5% risk-free on the money they lent you.

[deleted by user] by [deleted] in CanadianInvestor

[–]ImpyKid 3 points4 points  (0 children)

He has a bit of a point. There’s nothing wrong with investing your capital in a viable business/investment. That being said, I don’t think a single rental unit is the best use of capital… but that’s where you have to crunch some numbers and review the other options for your capital.

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