"Certainly a bad one": Former BoC head on the budget after predicting it would be the worst in years
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- čas přidán 8. 06. 2024
- Former Bank of Canada governor David Dodge shares his opinion on the federal budget after predicting it would be the worst in years.
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The ingenuity of this gov't to destroy its own country never ceases to amaze.
Do you think the PM decides on what is in the budget?
@@dannygjkYep
It's on purpose
@@dannygjk He supports it or did he not bother to be briefed or read.......
If only we had an alternative government in waiting that wasn't regressive and completely FOS.
Freeland is so incompetent it is startling.
Give a failed journalist the top economic job in the country
It's by design. You will own nothing
Don't worry she "showed fiscal restraint" again.....
The only thing worse than Justin staying would be her taking over.
She is overly confident and negligently incompetent
We don’t have a tax revenue problem. We have a spending problem. We have a Liberal/NDP coalition government problem.
Reject this budget and reject this LibNDP government!
Productivity crisis when we pay them to create anti productivity! Ai investment will help are we kidding?
@@user-je6cy3pu3uit will ! Anything that can help the economy and reduce government spending is a plus ….. I rather have an AI controlling the country than Justin 100%
How many Liberal tax increases would have been covered with money that has went into Harper / PP's $250 BILLION (so far) GST cut?
Doesn't help my kids much when the government steals their inheritance through taxation
There is a way to avoid it.
That would be your fault if that happens
@@Dlclrh9011 There are certainly ways to minimise it, but there is no way to completely avoid paying tax.
@@michaelmclaughlin7270 not legally. 😈 just gotta be smart.
If you hand your residence down to your kids, there is an exemption for capital gains taxation (because it is your primary residence). Cap gains inclusion targets investments.
her measures to “make housing more affordable” will literally drive prices higher. Terrible budget.
Canada is so screwed.
I realized it 3 years ago. I was very sad when JT was reelected in 2020. He and his cabinet are incompetent to run this country.
How many times must it be repeated, they aren't incompetent. They're evil
@@14reasons58 Can't agree anymore. Don't know how to hold these devils accountable to what they did, harm to Canadians.
Yeah, and it's going to get even worse once Pierre takes over.
@@Canuck-sv8dh Why do you say that?
Im terrified for the future generations ability to even afford to rent, if they can even find a home, displaced by so many immigrants.
But we needed all the immigrants to fund the government. Who else is going to build all those bike lanes where roads used to be?
Even more tax. Someone said that the 1.2 trillion national debt had to be paid by our grandchildren and their grandchildren. Canada is being ruined by JT and his ministers.
All by design
Immigrants are leaving too buddy
Coffin apartments
So when does the budget balance itself?
When the country is bankrupt.
@@schmo7777 Wins the internet!!! Hat off to you.
List all the Harper surpluses ;)
@@pinkyfloyd7712what was the deficit under harper again?? What was the inflation rates and fuel taxes? ;)
@pinkyfloyd7712 here we go again with Harper...sounds like liberal excuse
Sincere Question: Who would be so STUPID as to vote Liberal today?
Canada has plenty of dumb liberals
You must be young if you think it is crucial which gov't is in power.
@@dannygjk Pierre has a proven track record, according to you, you want more of Trudeau to sink Canada further? Why do you hate Canad so much?
@@dannygjkbingo
Just had some dipsh*t proclaim on another channel that Trudeau backed by Singh makes the best government ever. Just startling cluelessness.
Brought to you by the worst Canadian government in a generation.
In all of history
EVER.
A generation??? You are far more generous than me, these criminals are vying for an "all time" title!
nope that was stephen harpers conservatives.
@@boolanny Ha, ha... you're funny. Not very smart, but funny.
Who can trust in this government? Almost 8 years screwing this country...
It's hilarious, growing up you hear your dad say liberals spend and tax. In school, you get taught handouts are empathetic and nice (aligned psychological perspective with an industry, primarily women).
Then you get old yourself and realize, dad was right all along.
Vassy I hope you get Mr Dodge on more often. His wisdom is needed now more than ever.
Please no more Dodge...difficult to understand...
Liberals have destroyed millennial quality of life. But hey weed is legal 😂
Yes..yes it is.
That’s actually the design capitalism dummy
Cheech and Chong generation?
Millennials voted for this arrogant liberal party. Nobody else did.
typical bot response.
I see businesses moving out in the next few years, would mean less jobs for Canadians. It's amazing how they refuse to see this happening. Financial doomsday 😢
Everything is unaffordable and the Loonie is tanking - let's spend more to show we care - Liberals
We'll take your money and give it to the dragon hoard - Polievre
@@DumbdogsWinokay genius, explain what a dragon horde is. Because your awful esoteric joke makes sense only to yourself.
@@DumbdogsWin Exactly.
@@user-mo4mu9eb8s I'll answer that. Our last conservative PM, Harper, sold Canadians out to Big Pharma to the tune of over $1.5 billion/year, each and every year since. With inflation it's likely that's now over $2 billion/year.
I'd like David Dodge to autograph an old bank note of mine - frankly he is a rare voice of reason.
I had the pleasure of working with him. Back in those days, grown adults ran the country
@@conq3097 Thank you for sharing. I worked in finance for 32 years and I can recognize his intelligence and honesty. David Dodge is too far removed from today's world.
he's senile.
@@boolannyhe's speaking absolute truth. Especially about the capital gains tax increase. You need to grow up and start taking control of your own life.
Didn't he help bring in the GST?
“The difference between stupidity and genius is that genius has its limits”
Stupid
You can’t fix’s stupid !!
I’m 100 % ready to vote ☑️ asap
cant wait to vote liberal.
@@boolanny
“All things being equal, the simplest solution tends to be best one”
I’m 100% to vote ☑️ Poilievre!!
Freelands "help" is like holding out an electric cattle prod to a drowning person
I hope Trudeau disappears permanently, from politics. FOREVER!!! It's too late for new promises. Once you are a lair, you are always a liar.Absolutely despise trudeau
His kids will be prime minsters in the future.
Canadian voters take note!
Unless you want lower economic activity, higher unemployment, higher debts, higher interest rates, higher inflation, worse housing affordability. The main thing is that debt interest is increasing while the government is not growing the economy by penalizing investors to create new jobs.
Oh no 😢 what corporation will buy up all the single family homes now
( literally half the budget is dedicated to building affordable homes) Which will not only boost the economy but lower home prices. You can't have deflation and inflation at the same time . You're just throwing around terms you don't understand .
Well said!
But there will be Halal mortgages. Interest free (but not without charges). The folks in the GTO will be happy
The interest on the current debt is over $1 billion a week.
@@HiroshimaXl Lots of talk but no action. Where are all the homes they promised to build since 2015 ??? There were less houses started in 2023 than in 2022 or 2021.
Krystya Freeland has a bachelor of literature and a Masters in Slavic studies??? What is her qualification for finance minister?
She possesses an honorary PhD in Hubris.
@@jptrainor and she minors in unusual jerky movements as well. Her baby sparrow impersonation 🤣
And wants to give our taxes to Ukraine
The budget doesn't address any of the important issues facing Canadians.
David Dodge was parsing his words carefully. So I will say it for him - this budget is an utter disaster.
All the tax increase will be slapped onto the consumers and it will be back to the middle class to bear the brunt. 😡
The last nail in the coffin of liberals. Vote Conservatives!!!
Thank you for honest journalism, and informing the public.
Don't let Freeland "help" me.
You can’t tax your way to prosperity.
Since 2015, the Justin Trudeau government has added $400 billion of debts to the Federal Government balance sheet.
The era of near zero interest rates is long gone. The percentage of the funds allocated to the payments of the interest on the Federal debts will be increasing at each budget.
The ever-increasing interest payments will severely limit the ability of the Federal Government to generate growth !
Every service from the Government is terrible and we have to pay through our nose for everything.
@@shuaibshariff2797 Oh which services are better now?
@@EyeSee4.8 None. Everything is worse. We have a bloated bureaucracy as well with the cost rising from $38 Billion in 2015 to almost $70 Billion now. They also spend over $20 Billion on consultants.
@shuaibshariff2797 I agree 100% not to mention now we pay more on the interest for our debt then health care.
plus putting pressure on our natural resources. We also have no oil reserves and no gold or silver in the coffers.....
This is deficits "taking care of themselves" WE. NEED. TAX. RELIEF.
As a real estate investor , it's no longer worth to invest in this country.
Einsteins definition of insanity on full display.
David Dodge is epic
Vassey, actual reporting and asking the questions..
She’s awful some other times though. Soft on Liberals
So, if it is that bad and ends up affecting the ones the PM was looking for to support, who the hell advices the PM to create another fiasco with this budget?
Too much taxes can not afford liberal ndp spending. Spending on those useless area.
Look everybody: it’s the consequences of diversity hiring in important positions.
Not even related and you sound like a bigot trying to enter an economics discussion
The ENTIRE Liberal and NDP MP's must never be reelected in the future.
There isn't one active brain cell among all of them. We Cdns are so screwed.
trudeau 2025!....lol BOTS CANT VOTE bwahahahahahahahahaha
Vassy sounds like her idol, Justin Trudeau, when she talks about the changes to capital gains. The budget estimates that the changes to capital gains on personal incomes would affect only the top 0.13% of income earners, not the top 0.1%. Even if this were so, as Dodge pointed out, the capital gains changes affect ALL capital gains on corporations, including corporations started by young entrepreneurs. It will not only not help young Canadians, but will hurt our economic growth. Team Justin has a genius for dysfunctional changes.
yes because startups, lol just start right off making millions...lol useually it takes many years to acheive that, so it wont effect the youth at all...lol dummy.
Gov'ts around the world are competing with the private sector to borrow money to fund increasing deficit spending. this can only result in higher rates for longer.
You will own nothing and you will be happy.
BOT
The concept is called e40 cities
This guy looks exactly like old money, if old money was a person this guy would be it.
Euronation looks like NO money
Let’s be real with ourselves. Canadian cities aren’t Canadian at this point. It’s basically just India with Canadian flags. Canada is over for all intents and purposes.
India with rainbow and palestine flags
"certainly a bad one" - and we're supposed to be surprised from the Trudeau liberals? lol
Vassi always impressed me with her ability to keep track of things and clarify what's been said when someone just verbally unloads
It’s certainly a significant hit to incorporated business owners. 9% of their retirement was just expropriated.
Great idea put someone with a degree in Russian history in charge of the economy!! Lmao
Just allow without loopholes and connect CRA for Mortgage approvals
Who knew that Finance Minister Freeland has held a seat at the World Economic Forum board of directors table in Geneva since 2019? Anyone?
If the NDP or Bloc vote for this budget our country is doomed..
This is an election budget there is no intent on executing it. Just sound bites as suddenly after 9yrs he remembers housing is a challenge for the younger generation
67% capital gains tax is the start of the end of family businesses !
Great interviews! Love the dimples!
You will be happy and own nothing, ring a bell?
Vassy is one astute, great and fair political interviewer, doesn't seem to play favourites to any one political persuasion.
I love the look on her face when someone is word salading their way through their answer.
You don’t know her then. She hates Canadians and has to work on herself after she loses this job. Brought shame to the journalistic enterprise.
How do you have growth in Canada , if dont even want to build new roads??
I really wish ppl would read between the lines.
As long as canadians have money for timm hortond and girls hockey games then let them pay taxes
Ha ha. He preempted your lead question and got it correctly? He’s a mind reader. I like this guy.
You know they get to see the questions before the interview, right?
FJT! Where is my carbon tax rebate. I’ve been checking for the past few days and nothing.
Dont get rebate in Qc but we also feel the grunt of inflation on EVERYTHING that gets carbon taxed along the way
Naive CDN's in 2015, 2019 and 2021 thought vote for a part time drama teacher and a former journalist in charge of the chq book will bring them sunny ways...lol
I'm from the government and I'm here to help hahahahahahaha
Jajajajajaja
Marxism
This guys voice is wild
I hate to say this but he sounds tipsy.
He has always sounded like this.
15 years ago my wife called him Kirk Van Houten, after Milhouse’s dad, from the Simpson's. Vassy obviously loves the sound of his voice, kinda cute actually.
@@EdAb agreed. It's got a lot of character
PP4PM
Freeland for prison
Saving is not part of Freeland's vocabulary. Spend and tax are the only words Freeland knows and uses. How does the tribal chief of inflation still entrust Canada's money to that female accountant?
Did Fidget try to help Canadians or crush them. Seem the later.
Justin is going to cr*p on the furniture before he leaves.
Would you expect sound fiscal policy from this government? If it’s not a TikTok trend they’re clueless.
The Libbies are writing checks my grandkids will be paying for…that is if the country still has jobs then.
You reap what you sow.
Venezuela national anthem time.
I think he’s tipsy. 😂✌️
Painful to listen to this guy.
The guy is 80...come on
More painful than listening to Freeland or Trudeau ? This guy should actually be in charge at this point ....
Poor you :(
@@simong9381
He was appointed Deputy Minister of Finance in 1992. In the 1996 book Double Vision, Edward Greenspon and Anthony Wilson-Smith describe in detail the role which Dodge played in reviving Canada's economy by working closely with Finance Minister Paul Martin to eliminate the federal budget's deficit spending.[5]
More Liberal Sunny ways !!
I think I'm going to follow the lead of these geniuses and run my household finances like the federal government does the nation. Eight years from now when I have an unserviceable level of debt, sorry, "investments", I'll just adjust my ninth years' budget to fix all that with another say, $40k deficit that year; since spending money (I don't have) will SURELY get me back to a prosperous place where my children and their children will not be saddled with anything so draining or tedious as "ownership' of any property or possessions. I think I'll call it "Fairness for All Generations".
Set up your own central bank in your basement. Brrrrr....
Ya think?
Can we have a tax revolt and not pay due to wasteful use of our money and incompetent government?
I fully encourage you to do this!
The Liberal Government will just freeze our bank accounts. 😂
well.
it's certainly got all the rich and well-connected fulminating against it...
maybe it's got something going for it
Do we expect Kevin O'Leary and his like to invest for the benefit of Canadians .... no ... tax him.
🙄 Please take a 101 investment course. We can only hope O'Leary invests in Canada. That's how you increase productivity and raise salaries.
You dopey Liberals need to go.
Problem is he and his like won’t be here to tax. Then what?
Thank a Liberal voter when the breadlines begin
She exiled capital.
Vassy I like this guy but I wonder, is he tipsy? Lol. I’m not judging him but he doesn’t sound sober. I could be wrong though.
His analysis is very sound and sobering.
He sounds like he has always sounded IMO.
Keep in mind,there is going to be one more in 2025 !
The federal liberals must go!
DD go back to sleep ... you're sleep walking!
👍🏻FJT
Poilievre for PM!
Trudeau 2025...BOTS cant vote...lol
Tucker Carlson was correct about Freeland!
Vassy ... please get a grip!
It will be the worst ever in the history of Canada 🇨🇦.
I understand what Dodge is saying about reduced incentives, but the taxation rate allows for upto $250K per year at the old inclusion rate. Even if you sell a vacation home valued at 1.4 million, which was purchased at $1 million, the incremental tax increase is something like $3800k on a capital gains tax bill that would be about $100K, under the old inclusion rate. So it is not a huge increase and this level of increase is unlikely to deter entrepreneurs who are looking for 30% or more returns or even 10X their investment, in the case of something revolutionary. $3800 more for someone who has a net worth $3-5million is not huge. They probably spend that on fine dining, wines or massages.
Since did a banker ever care for anyone but the riche!
Go ahead and ask him about the possibility of Canada losing it's AAA credit rating.
Why is David Dodge only presented as a former Bank of Canada and not a member of the CD Howe Institute, a servile Conservative Party promoting organization?
Deputy Minister of Finance
He was appointed Deputy Minister of Finance in 1992. In the 1996 book Double Vision, Edward Greenspon and Anthony Wilson-Smith describe in detail the role which Dodge played in reviving Canada's economy by working closely with Finance Minister Paul Martin ( A LIBERAL) to eliminate the federal budget's deficit spending.[5]
anyone thinks she's hot?
Not that I'm a fan of this capital gains tax but he only says its the worst cause it will affect him a lot being rich. Even if you have a house and you want to sell it, it wont affect the regular person. This tax only affects the rich.
Absolutely wrong... When you raise capital gains for corporations, they will not pay for that increase. That cost gets passed along to the consumer by higher prices. Sir, your education has failed you.
😂😂😂