City of Toronto is broke

[Frankfooter]

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.

https://www.fraserinstitute.org/sites/default/files/federal-and-provincial-debt-interest-costs-for-canadians.pdf

Toronto is mandated to not be able to have a debt or run deficits.

 

[DesRicardo]

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

What makes you thing they haven't looked at spending?

I hate when people think cutting is the solution. Look what happened to health care.

 

[onthebottom]

You simply need a city income tax, think NYC or where I live in Cincinnati. Try 5% going to 10%, that will fill some holes.

 

[Butler1000]

You simply need a city income tax, think NYC or where I live in Cincinnati. Try 5% going to 10%, that will fill some holes.

I would prefer a visitor tax to start. Hotels, restaurants, events, etc to start. 1-2%

 

[oral.com]

What makes you thing they haven't looked at spending?

I hate when people think cutting is the solution. Look what happened to health care.

Ideally some make believe human who isn't able to be corrupted by bribes, insider trading, or financial gain of any kind.

I would vote for an AI overload.

 

[onthebottom]

I would prefer a visitor tax to start. Hotels, restaurants, events, etc to start. 1-2%

Everyone wants to tax someone else, a city income tax is the least regressive (vs fees). And given you collectively voted for NDP you may as well get the full experience.

 

[Butler1000]

Everyone wants to tax someone else, a city income tax is the least regressive (vs fees). And given you collectively voted for NDP you may as well get the full experience.

Beyond her actual vote percentage the city can't do it. The province decides what can happen. A tourism tax is common, and makes sense. It only affects disposable income spending, and from sources outside of the city in the main.

 

[Not getting younger]

You simply need a city income tax, think NYC or where I live in Cincinnati. Try 5% going to 10%, that will fill some holes.

one thing I suggested was some taxes called X. Levied by postal code or ridingFor the city and province. If by riding, areas where demographics show they don’t have much disposable income.

If it can be done for the hydro infrastructure ( only the cities need that much) and rates determined by density..

good article in the star the other day that broke the cities ridings down by various metrics/demographics. Mainly breaking down the cities growth over some years.

 

[Not getting younger]

Some history on “hog town”..

Do, keep in mind. Mike Harris and the “common sense revolution”. Agree with some of his decisions or not. He, like Ford inherited a god awful mess.

he leased the 407 for cash.
He downloaded some cost onto municipalites. And brought in Amalgamation. In the hopes that municipalities ( and their voters) would be more responsible for their own finances.

Amalgamation of Toronto - Wikipedia

en.m.wikipedia.org

 

[DesRicardo]

I would vote for an AI overload.

You mean Chow isn't a ChatGPT Android?