Toronto is broke because they don't know how to manage money. Not one person who's sat on city council the past decade was a trained economist, accountant or financial manager.
City of Toronto is broke
- Thread starter farquhar
- Start date
Gotta agree here.
The right-wing conservative majority that comprised city council from 2010 - 2022 and that got us into this fiscal and financial existential cataclysm were a bunch of Rob Ford/John Tory trained and led seals.
That's after years of the crackhead Ford and John Tory.
Conservatives are just bad with money management.
Riiiiiiight. And "I don't want to think of monetary policy" Trudeau is amazing with money management. Dude you're ripe man. All politicians in power and in control of taxpayer funds are the WORST at money management.
So then who should be running the country if all politicians are all terrible at money management? One of the folks who built the bouncy castles in Ottawa?
Ideally some make believe human who isn't able to be corrupted by bribes, insider trading, or financial gain of any kind.
I hope they don't go after John Newton and ban Amazing Grace. But, I fear nobody is safe.
Conservative 'trickle down' policy has been a massive and dismal failure every place its tried.
Every single time.
It gives tax breaks to the rich and corporations at the expense of debt/deficit and social services. That's all.
You think that's the smart monetary policy?
and the 401, QEW, 427,410
Put tolls on them all.
Which begs the question. How much is too much…..
the middle class and down are being driven to their knees. Taxes like the HST, on gas at the pumps, , on home heating impact them disproportionately. And it’s only been proven “1 million” times. The less disposable income anyone has, the more “punitive” such taxes are.
By way of simple illustration. Two families, two kids, two vehicles. Their lives are identical, they drive the same kms/year, they buy the same groceries, “luxuries”. One house after income tax, takes home “$50,000 and the other “$100k”. By the time all bills, mtg pmts, etc are done. One family has “$10,000” and one has $60,000 ( identical $40k expenses)
Their gas budgets are identical. Both families spend $5,000 (low) at the pumps. So they both pay $2,500 in tax.
what percentage of disposable income is $2500 of $10,000 and $2500 of $60,000
Now do the same for HST on clothes, other “necessities”..
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At what tax rate, do companies decide the US looks better…or South America…. At what income tax rate do the well off and rich think the same
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Why not look at the spending within house. City of Toronto has a spending issue and the working class has to pay for it. Sounds like the mayor should sleep with our PM Trudeau.
I also blame Toronto she been sayibgfrom day 1 she will raise taxes. But yet people are so stupid they still give her the votes
Well something else to keep in mind.
No matter what level govt, no matter the revenues/expenses. The more debt there is, the greater the debt servicing cost. Even if their rates stay the same, and both sides of the ledger stay the same.
The more money that is needed to make interest payments. The less money there is for services ( and the staff that deliver them)
Right wing. So some salt. Doesn’t mean there isn’t merit or truth.
No matter what level govt, no matter the revenues/expenses. The more debt there is, the greater the debt servicing cost. Even if their rates stay the same, and both sides of the ledger stay the same.
The more money that is needed to make interest payments. The less money there is for services ( and the staff that deliver them)
Right wing. So some salt. Doesn’t mean there isn’t merit or truth.
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Here we go again.
First, you don't live in Toronto.
Second, you've stated that you think Toronto's property taxes are lower than the rest of the province so raising taxes shouldn't be a big deal to people who actually live here and means nothing to those who don't live here.
Third, your math sucks and makes no sense.
