Canadian federal debt per person is not a pretty picture, as noted by the Fraser Institute. From inception in 1870, it increases slightly and then has limited fluctuations until the period of the Great War. It increases rapidly with the war effort but does not go down much after. The debt has a very noticeable spike with WW II and then declines but never back to pre-WW II levels. In 1975 in begins a climb to the highest peak at around $37,000 per person. It comes down slightly but in 2015 it is near $32,500 per person. Even when the prime ministers of Canada were able to reduce the debt, the reductions were never significantly impactful to reverse the growth in debt for long. Now, PM Justin Trudeau appears to be the greatest creator of Canadian debt barring war times and serious economic down turns such as the Great Depression.President John F. Kennedy (D) understood that the tax system has a negative impact on economic growth... That the tax burden reduces ambitions to get ahead, to make new purchases, to invest. It also has a negative impact on business, reducing expansion and development. President Ronald Reagan (R) during his inaugural address pledged that his objective was to make a growing economy, equal opportunities with no barriers born of bigotry and to end inflation. He accomplished this by reducing taxes, regulatory reform and promoting the free market.These US examples show that the way out of national debt is straight forward. Get the free market working for your country. Grow the economy by reducing both personal and business tax, provide for equal opportunities (and not just the connected.) Control inflation by reducing government spending. Reduce regulations. Doing the opposite will drag down business, decrease personal spending, and limit everyone’s future.Minister Freeland's new federal budget does the opposite.It promises “Fairness for Every Generation”. But, it will accomplish this by more spending on housing, more on childcare, more on school food programs, etc... and giving green corporations massive tax breaks. This will be offset by taxing the rich, which is “fair.”This budget is about two points. First, throw more money around in the hope that you can buy votes. Second, a lame propaganda campaign based on a divide and conquer approach between the “rich” (defined as “over $250,000 in capital gains) and the rest. When you need more than $250,000/yr to buy the average house in Toronto, the “rich” are not the rich anymore. (If the Liberals want to retain seats, that's not going to work.)If you, the voter, are tired of that millstone around your neck remember, you get the government you voted for. Dr. A.W. Barber is the former Director of Asian Studies at the University of Calgary. He is internationally active and has wide-ranging interests.
Canadian federal debt per person is not a pretty picture, as noted by the Fraser Institute. From inception in 1870, it increases slightly and then has limited fluctuations until the period of the Great War. It increases rapidly with the war effort but does not go down much after. The debt has a very noticeable spike with WW II and then declines but never back to pre-WW II levels. In 1975 in begins a climb to the highest peak at around $37,000 per person. It comes down slightly but in 2015 it is near $32,500 per person. Even when the prime ministers of Canada were able to reduce the debt, the reductions were never significantly impactful to reverse the growth in debt for long. Now, PM Justin Trudeau appears to be the greatest creator of Canadian debt barring war times and serious economic down turns such as the Great Depression.President John F. Kennedy (D) understood that the tax system has a negative impact on economic growth... That the tax burden reduces ambitions to get ahead, to make new purchases, to invest. It also has a negative impact on business, reducing expansion and development. President Ronald Reagan (R) during his inaugural address pledged that his objective was to make a growing economy, equal opportunities with no barriers born of bigotry and to end inflation. He accomplished this by reducing taxes, regulatory reform and promoting the free market.These US examples show that the way out of national debt is straight forward. Get the free market working for your country. Grow the economy by reducing both personal and business tax, provide for equal opportunities (and not just the connected.) Control inflation by reducing government spending. Reduce regulations. Doing the opposite will drag down business, decrease personal spending, and limit everyone’s future.Minister Freeland's new federal budget does the opposite.It promises “Fairness for Every Generation”. But, it will accomplish this by more spending on housing, more on childcare, more on school food programs, etc... and giving green corporations massive tax breaks. This will be offset by taxing the rich, which is “fair.”This budget is about two points. First, throw more money around in the hope that you can buy votes. Second, a lame propaganda campaign based on a divide and conquer approach between the “rich” (defined as “over $250,000 in capital gains) and the rest. When you need more than $250,000/yr to buy the average house in Toronto, the “rich” are not the rich anymore. (If the Liberals want to retain seats, that's not going to work.)If you, the voter, are tired of that millstone around your neck remember, you get the government you voted for. Dr. A.W. Barber is the former Director of Asian Studies at the University of Calgary. He is internationally active and has wide-ranging interests.
