Post by t0xicn1nja on Oct 15, 2015 14:00:53 GMT
Reasons to Keep a Close Eye on Canada's Federal Election <-- LINK
So the Canadian election is on October 19th, (this up coming Monday) and it's basically a 3 way race between the Conservative Party (as right wing as we have in Canada, but they're actually not very right at all - NOTHING LIKE TRUMP ), we also have a Liberal party, which is basically extremely left, and we have the New Democrats (NDP) and they're even more left than the Liberals, but they 'claim' to be the 'best' of both worlds. According to polls all three parties are basically neck and neck, with around 30% support each, but right now as of this post, the Liberals are winning, the Conservatives are second place, and the NDP is even further back than the Conservatives.
My question is, how can these election results affect businesses? Will it affect the stock market heavily, and will this provide a lot of 'buy' opportunities for people?
The Liberals basically want to increase taxes, increase payroll taxes, and increase taxes for corporations, and for a family that makes around $70k/year household, that is like another $2k/year in Liberal taxes. They have not said anything else about their other proposed taxes but they are definitely going to introduce more taxes, and increase the HST (harmonized sales tax, which is 13% right now, payable on ALL goods/services basically) and they are making it mandatory to go into their new ORPP (Ontario Retirement Pension Fund) which aims to take like another few percent of your paycheck and then ask your employer for more money as well, and you won't be able to 'cash' it out, until you're like 65/67, maybe even later, and they are proposing it might cost like a billion dollars to actually create this plan, and the person who brought the plan out (Kathleen Wynne) said on stage she does not even 'know' how much it will cost to be honest.
The Conservatives want to lower taxes in the form of tax breaks for people of any earning class, and they've over the past 10 years of being in power, consistently done just that. They made sure Canadians didn't 'feel' the global recession that's happening right now and they are very intent on fighting ISIS in the middle east. Harper is also trying to ban the Niqab or Burka, or any sort of Muslim face covering, because it is a symbol of oppression. Like 70% of Canadians SUPPORT banning the Niqab, but the House of Commons (like the Senate people who 'really' make the decisions). Basically the Conservative party is 'good' for business and the economy and they're good for us.
The NDP is kind of cloudy, they don't tell anyone their plans and they just say they want to bring better health care, cut costs for people, and tax people more over 10 years before spending any money and they want to basically 'hoard' the tax money, WHILE taxing more and more, just like the Liberals, except the Liberals will come in and already they've promised to spend over $150 BILLION dollars in their 4 year term, on new uneccessary things. The NDP actually wants to provide $15/day daycare / childcare services for Canadian families, which is only the tip of the iceberg with their 'unaffordable' things.
That's the gist of all 3 parties, what do you think of them? I tried to be as unbiased as possible but obviously you can see who I support (Conservatives) so, with this information, which government would be the best for us, to make money out of, and which government would be the best, for the country overall?
I'm thinking if the Liberals or the NDP win, a lot of companies will fall / share prices will fall, and that presents some good opportunities for investors, but like, we'd all be fucked with more taxes and the money might not be worth the destruction that will ensue, but if the Conservative government stays in power, they are going to increase the amount in our TFSA, from like the $40k now I think we have, to like $50k or more, and they've been consistently making it easier for Canadians to 'invest' in the stock market, and they've been trying to make pensions for old people better and more accessible.
I think a Liberal or NDP government will be perfect for people who are looking to invest to get companies at greatly reduced prices, but a Conservative government seems much more stable than a Liberal Government, because we know what they'll do and not do since we've had them for the past 10 years.
Canadians are only voting for the Liberals and NDP because they think Harper is not helping out the less fortunate as much as he should be, even though refugees are receiving over $25k/year in taxpayer money to live, plus they have jobs and even more benefits, and older pensioners are receiving around half that, which is like $14k/year. The Liberals and the NDPs want to allow any immigrants into the country, to the tune of about 400k per year, while the Harper government is taking things slow and only allowing in around 40k a year because they are a burden on Canadian taxpayers.
The Canadian people are mostly broke so they want everything handed to them (harsh but true) so what do you think?! Should I fleeeeeeeeeeee or should I stay and take advantage of low prices but very likely much much much higher taxes?
So the Canadian election is on October 19th, (this up coming Monday) and it's basically a 3 way race between the Conservative Party (as right wing as we have in Canada, but they're actually not very right at all - NOTHING LIKE TRUMP ), we also have a Liberal party, which is basically extremely left, and we have the New Democrats (NDP) and they're even more left than the Liberals, but they 'claim' to be the 'best' of both worlds. According to polls all three parties are basically neck and neck, with around 30% support each, but right now as of this post, the Liberals are winning, the Conservatives are second place, and the NDP is even further back than the Conservatives.
My question is, how can these election results affect businesses? Will it affect the stock market heavily, and will this provide a lot of 'buy' opportunities for people?
The Liberals basically want to increase taxes, increase payroll taxes, and increase taxes for corporations, and for a family that makes around $70k/year household, that is like another $2k/year in Liberal taxes. They have not said anything else about their other proposed taxes but they are definitely going to introduce more taxes, and increase the HST (harmonized sales tax, which is 13% right now, payable on ALL goods/services basically) and they are making it mandatory to go into their new ORPP (Ontario Retirement Pension Fund) which aims to take like another few percent of your paycheck and then ask your employer for more money as well, and you won't be able to 'cash' it out, until you're like 65/67, maybe even later, and they are proposing it might cost like a billion dollars to actually create this plan, and the person who brought the plan out (Kathleen Wynne) said on stage she does not even 'know' how much it will cost to be honest.
The Conservatives want to lower taxes in the form of tax breaks for people of any earning class, and they've over the past 10 years of being in power, consistently done just that. They made sure Canadians didn't 'feel' the global recession that's happening right now and they are very intent on fighting ISIS in the middle east. Harper is also trying to ban the Niqab or Burka, or any sort of Muslim face covering, because it is a symbol of oppression. Like 70% of Canadians SUPPORT banning the Niqab, but the House of Commons (like the Senate people who 'really' make the decisions). Basically the Conservative party is 'good' for business and the economy and they're good for us.
The NDP is kind of cloudy, they don't tell anyone their plans and they just say they want to bring better health care, cut costs for people, and tax people more over 10 years before spending any money and they want to basically 'hoard' the tax money, WHILE taxing more and more, just like the Liberals, except the Liberals will come in and already they've promised to spend over $150 BILLION dollars in their 4 year term, on new uneccessary things. The NDP actually wants to provide $15/day daycare / childcare services for Canadian families, which is only the tip of the iceberg with their 'unaffordable' things.
That's the gist of all 3 parties, what do you think of them? I tried to be as unbiased as possible but obviously you can see who I support (Conservatives) so, with this information, which government would be the best for us, to make money out of, and which government would be the best, for the country overall?
I'm thinking if the Liberals or the NDP win, a lot of companies will fall / share prices will fall, and that presents some good opportunities for investors, but like, we'd all be fucked with more taxes and the money might not be worth the destruction that will ensue, but if the Conservative government stays in power, they are going to increase the amount in our TFSA, from like the $40k now I think we have, to like $50k or more, and they've been consistently making it easier for Canadians to 'invest' in the stock market, and they've been trying to make pensions for old people better and more accessible.
I think a Liberal or NDP government will be perfect for people who are looking to invest to get companies at greatly reduced prices, but a Conservative government seems much more stable than a Liberal Government, because we know what they'll do and not do since we've had them for the past 10 years.
Canadians are only voting for the Liberals and NDP because they think Harper is not helping out the less fortunate as much as he should be, even though refugees are receiving over $25k/year in taxpayer money to live, plus they have jobs and even more benefits, and older pensioners are receiving around half that, which is like $14k/year. The Liberals and the NDPs want to allow any immigrants into the country, to the tune of about 400k per year, while the Harper government is taking things slow and only allowing in around 40k a year because they are a burden on Canadian taxpayers.
The Canadian people are mostly broke so they want everything handed to them (harsh but true) so what do you think?! Should I fleeeeeeeeeeee or should I stay and take advantage of low prices but very likely much much much higher taxes?