Why we need to make room for alternative lenders

Crackdowns fail to recognize that alternative lenders are the last hope for Canadians shut out of the traditional lending market

Why we need to make room for alternative lendersThe media often portray alternative lenders as slippery, unethical loan sharks who exploit the poor. When targeting the sector and not just a few bad apples, such stories are easy, cheap hit jobs. New Brunswick Sen. Pierrette Ringuette, for example, recently described alternative loans to CBC Marketplace as “an abusive financial process that needs to…

Carbon tax will cost British Columbians more

Think you can avoid the carbon tax by riding your bike? Think again

Carbon tax will cost British Columbians moreBritish Columbians are now paying even more to heat, eat and drive to work. Prime Minister Justin Trudeau's most recent carbon tax hike has found a willing follower in British Columbia Premier John Horgan. When Team Trudeau was fighting against several provinces at the Supreme Court of Canada, saying he should be able to impose…

Alberta public sector pampered, while taxpayers suffer

So much for being in this together

Alberta public sector pampered, while taxpayers sufferAlbertans are enduring a tale of two downturns during COVID-19. There’s the very real downturn full of private-sector pain. Then there’s the experience of government employees who have largely been shielded from the downturn. Over the last year, 76,600 private-sector jobs vanished in Alberta, while 5,600 government jobs were added. Since the beginning of 2015,…

Ballooning sunshine list a slap in the face to taxpayers

A 10% pay cut for all sunshine listers would save beleaguered taxpayers more than $2.5B

Ballooning sunshine list a slap in the face to taxpayersWhile most Ontarians were barely getting by during lockdowns, the bill for Ontario top bureaucrats ballooned in 2020. There are still 800,000 Ontarians looking for a job. So, it must be jarring for them to see Ontario’s sunshine list, which discloses the municipal and provincial government employees making more than $100,000 per year, increased by…

Universal basic income has been tested and failed

Finland acknowledged its two-year experiment a total failure

Universal basic income has been tested and failedThe COVID-19 crisis has brought back to the forefront the idea of a universal basic income or guaranteed annual income. It’s an idea that should be abandoned. In response to the economic crisis caused by the COVID-19 restrictions, the Canadian government has implemented the Canada Emergency Response Benefit (CERB). Eligible people receive $2,000 for a…

The NDP’s flawed case for wealth taxes

The idea that we can easily tax rich people with impunity is not supported by the evidence

The NDP’s flawed case for wealth taxesSince the last federal election campaign, the NDP has been continually beating the drum for a wealth tax. The party’s latest push comes in its supplementary report to the 2021 budget consultations. Their case for the tax, however, is based on significant economic errors. First, the NDP claims that a wealth tax has been recommended…

19 steps to reviving Canada’s lackluster economy

We need to increase personal income, improve living standards and pay down the mountain of debt

19 steps to reviving Canada’s lackluster economyThe federal government is preparing a budget to be unleashed on the public and the financial markets sometime in March. We can be terrified at the prospect of more huge debt taken on by our servants on Parliament Hill. Or we can hope they may take a more creative, constructive and growth-generating approach. Here are…

Students will be stuck paying the pandemic debt tab

The lingering financial fallout from the pandemic will cost our students for the rest of their lives

Students will be stuck paying the pandemic debt tabThe pandemic has been hard on students of all ages. As many parents can attest, their children have missed the social interaction at school and have struggled to focus during online learning. Post-secondary students have missed out on important and exciting life experiences, too. But even after in-class and on-campus learning has resumed to near…

Tone deaf CEOs think Albertans need to pay higher taxes

Business Council of Alberta that thinks the government should consider a provincial sales tax and carbon tax

Tone deaf CEOs think Albertans need to pay higher taxesMore than 90 big-wig business executives think you don’t pay enough taxes. It’s all laid out in a report released by the Business Council of Alberta that thinks the government should consider a provincial sales tax and carbon tax. The BCA’s website refers to itself as “a group of over 90 chief executives from across…

The telltale signs of a tax scam

How criminals are conning people out of millions posing as the CRA

The telltale signs of a tax scam“They were so convincing that in minutes I had gone to the corner store, bought $500 worth of prepaid credit cards and read the numbers to a voice at the other end of the phone.” A client shared this story with me nearly in tears, which were a combination of anger and embarrassment. Over the…

The hidden costs of feel-good stocks

The hidden costs of feel-good stocksThe stakeholder-shareholder debate in finance has narrowed down to a false dichotomy between good capitalism and bad capitalism. Good capitalism means funding green energy to fight global warming, while bad capitalism means investing in fossil fuels, tobacco, or other “sin stocks.” However, the economic downturn should be a wake-up call to investors regarding the hidden…

Why a wealth tax in Canada is a horrible idea

We naturally tend to rationalize taxes on others. However, the arithmetic is undeniable: we can’t solve our problems by soaking the rich

Why a wealth tax in Canada is a horrible ideaEat-the-rich rhetoric is good politics but bad policy. The wealthy minority contribute precious investment and much-needed employment, but no good deed goes unpunished. The spectre of a wealth tax, which hangs over Canada, epitomizes infantile, self-defeating governance. Last autumn, federal NDP Leader Jagmeet Singh introduced a motion in the House of Commons calling for a…

Financial strain top source of worry in COVID-19 mental health crisis

Researcher studies tools for recovery from tax clinics to guaranteed basic income

Financial strain top source of worry in COVID-19 mental health crisisFinancial strain is affecting Canadians’ mental and physical health and addressing it will be key to the country’s post-COVID-19 social and economic recovery, according to public health professor Candace Nykiforuk. Nykiforuk and her team received funding from the Canadian Institutes of Health Research to study ways to address the health impacts of the pandemic related to…

Why smart utility meters are a particularly smart idea right now

Smart meters remove the need for someone to travel to homes to read meters, enabling customers to avoid costs and maintain distance

Why smart utility meters are a particularly smart idea right nowFew practical measures have been presented to achieve the lofty goals laid out in Prime Minister Justin Trudeau’s green agenda or the United Nations 2030 Sustainable Development Agenda. Gender equality, increased daycare spending and reduced fossil-fuel usage might make for pretty speeches, but they do little to boost economic growth or help struggling Canadians. Genuine,…
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