Who Did You Vote For, Canada?

A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself.

Marcus Tullius Cicero

Enjoy the decline:

With sky-high inflation, many Canadians are having a tough time affording gasoline and groceries. In fact, nearly 60 per cent of Canadians find it difficult to feed their families, according a poll from the Angus Reid Institute from earlier this year. The federal government could immediately make life a little more affordable for Canadians by reducing taxes. But instead of providing tax relief, the federal government has recently increased the carbon tax, alcohol taxes and payroll taxes. While the federal government increased the basic personal exemption to increase the tax-free portion of incomes, if you make more than $40,000, then your federal income tax bill is going up this year due to rising payroll taxes. 

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The majority of respondents in a Canada-wide survey released Monday said they are using coupons or hunting for sales to cope with increasing food costs. Nearly 20 per cent were also reducing meal sizes or skipping meals altogether in order to save money.

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Canada’s top income earners pay more than half of the total taxes collected by all levels of government, according to a new report from the Fraser Institute.

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The report notes that increasing taxes on the wealthy is often pitched as a populist measure, with progressive politicians claiming the rich don’t pay their fair share, and that fiscal problems can be solved by boosting taxes on the wealthy.

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The surge in net wealth that many Canadians enjoyed during the pandemic as the value of their homes skyrocketed and high-flying stocks bolstered their investment portfolios is reversing course, RBC Economics says.

The downturn in the real estate and financial markets means Canadians could see a total of $1.6 trillion in net wealth erased in the coming quarters, the bank said in a report released on Wednesday. While that won't wipe out all of the estimated wealth gains made during the pandemic, it's already having a chilling effect on consumer spending.

From peak to trough, RBC estimates it would represent a 41 per cent decline in collective net worth.

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The federal government is issuing new savings bonds to raise money for Ukraine and is imposing sanctions on 35 more Russians.

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Prime Minister Justin Trudeau announced the measures Friday at the opening of a three-day national gathering of the Ukrainian Canadian Congress, where he and others denounced Russia’s invasion of Ukraine.

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Parliament in promoting a federal dentacare program runs a risk Canadian employers will repeal private plans to offload coverage, medical professionals warn the Senate national finance committee. “It is a real fear,” said the Canadian Dental Hygienists Association: “Either incentivize employers to maintain their dental benefits or you disincentivize them through large government fines.” 

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Rideau Hall last year paid out more than $319,000 in settlements to four unidentified employees, records show. The payments followed then-Governor General Julie Payette’s abrupt resignation over allegations of workplace harassment: “Everyone has the right to work in a safe and healthy environment.”