01:10 – 04:02 – Michael’s Editorial – With the backlash against Trudeau’s tax plan, Michael wonders if we’ve seen the peak in the anti-success, anti -business anti 1% rhetoric. Certainly as – economist Thomas Sowell observed – “We’ve arrived at a time where we demonize those who produce, subsidize those who refuse to produce and canonize those who complain,”
The fact that its been an abject economic and social failure everywhere its been tried. Just ask the people in Venezuela, Cuba or even France. But that doesn’t bother the likes of Jeremy Corbyn, Bernie Sanders or a growing number of millennials.
In 2008, when BC introduced the carbon tax it was revenue neutral. Any revenue collected would be returned in the form of lower corporate and indiviudal taxes so there was no net increase in the government’s tax revenues. That’s now changed in BC and Alberta – like any other tax, the carbon tax will be a revenue generator, which is bad news for the economy.
01:16 – 06:26 Mike’s Editorial – Big government loving politicians are squaring off against doctors, farmers and entrepreneurs. In one corner some prominent economists – in the other angry accountants saying enough already with the increasing complexity of the tax code. $250 million a year in tax money at stake.