Monthly Archives: September 2015

Thoughts from the Canadian Leaders Debate on the Economy

Contrary to what seems to be popular on my news feed, I actually thought Trudeau did really well in the debate. My thoughts afterwards were “it’s too bad he lots all credibility in the first half of the year.” Also too bad that his plan is an obvious “take all the things the millennials are saying they want and try to make it sound realistic”. It’s too bad, because he was by far the most charismatic person on stage. He came across to me as the most hopeful and optimistic – something this country needs. But if he gets elected and then fails, the disappointment will be huge – and there’s a high likelyhood of failure with his plan.

For starters: intentionally running a deficit is not a great idea. Yes, I like the idea of investing in infrastructure. I love the idea of an infrastructure bank and someone finally paying attention to municipalities – and Toronto specifically. But he doesn’t have a plan to pay it back. You don’t borrow money to start a business or to buy a house without knowing you can pay it off.

I felt Mulcair did well and was obviously the wisest of the bunch. He just wasn’t exciting. That’s probably what we need, but not what people want to hear. His plan sounded by far the most well thought-out, and reasonable approach. Corporate taxes are way too low, and corporations are not paying their fair share. A small increase there to pay for programs is exactly what we need to do. This is the part that makes it obvious that Trudeau is grasping at what’s popular and not what’s right: The top 1% of Canadian individuals already pay more than Corporations on income tax, and most of them use corporations to shelter their money.

Finally, as though I really need to go through this, it’s obvious that Harper is done. He spent the entire debate saying “unstable global economy” as though that actually meant anything. I think he thinks that it means “be scared and vote for me.” Since that’s kinda his whole political shtick. Much like his plan for the economy, it isn’t working. Low corporate taxes have not brought manufacturing jobs back to Ontario. Those jobs are gone and aren’t coming back, no matter how low the tax rate. It’s time we build an economy for the next 20 years, not 20 years ago.