Politics
Trudeau Gives 4.7% Alcohol Tax as New Year Present to Canadians
Prime Minister Justin Trudeau of Canada frequently declares that he is “working to make life more affordable.” Instead of doing the one thing that would immediately make living more cheap – cutting taxes – he’s leveraging inflation to go on a drinking binge.
Trudeau intends to boost the federal excise tax on alcohol once again in 2024. This time, it was by 4.7%. Even a 4.7% tax increase, however, minimizes the amount of tax you pay every time you go to the liquor store.
In Canada, taxes already account for over half of the price of beer, two-thirds of the price of wine, and more than three-quarters of the price of spirits. That means a 24-pack of pilsner, a couple bottles of Pinot, plus a bottle of vodka will set you back around $120. Over $75 of it is tax.
In fact, Canadians pay five times the tax on a case of beer as our southern neighbors. The tax on a case of beer in Saskatchewan, Prince Edward Island, and Newfoundland and Labrador is higher than the total price of a case in half of American states.
While Canadians pay greater taxes, Americans benefit from tax cuts. Between 2017 and 2019, Canadian beer taxes increased by $34 million for large brewers, whereas American beer taxes decreased by $31 million.
Since the 2017 budget, the federal government has been on a tax rise spree. The Trudeau government implemented an automatic tax hike escalator that year. That means that on April 1 of each year, the federal excise tax automatically increases with inflation.
With inflation at a 40-year high, Canadians will face a significant tax increase in 2024.
The escalator tax was initially unpopular because inflation was low. However, even minor tax increases might add up to large costs over time. Because of the automatic annual tax raise that began in 2017, the federal government’s alcohol excise taxes will have jumped 19% after next year’s boost.
According to polls, the growing cost of living is the single most pressing economic issue confronting Canadians. Any government that cares about affordability will cancel the forthcoming tax hike and eliminate the automatic tax escalation system.
Brownie points for restoring alcohol taxes to their pre-automatic tax escalation levels. After all, the administration has boosted its tax take without MPs voting on it since Budget 2017. This is inherently anti-democratic.
Votes on tax increases are required for democracy. That is why we have a House of Commons full of MPs elected by their voters and paid $194,000 by the public. The automatic tax rises, on the other hand, make a mockery of our democratic processes.
In fact, the one time MPs had the opportunity to vote on the most recent alcohol tax rise, they decisively voted to repeal it. Trudeau just rejected the non-binding motion and Parliament’s democratic will.
Canadians require assistance. And the simplest and most straightforward way for Trudeau to demonstrate that he cares about affordability is to cease his alcohol tax spree.
Trudeau’s Short term rental Tax
Meanwhile, according to media sources, Finance Minister Chrystia Freeland will unveil tax reforms aimed at reducing the use of Airbnb Inc. and other short-term rental services in areas of Canada where those platforms are prohibited.
According to reports in Montreal’s La Presse and the Toronto Star, Freeland’s fall economic statement will include the proposal. According to news outlets, the government will restrict property owners from deducting expenses for short-term rentals in places where those services are already limited by other levels of government.
According to the Star and La Presse, the tax reform, which would take effect on January 1, is intended to punish property owners who violate local restrictions. A lack of suitable rental homes is an issue in locations like British Columbia, where the provincial government recently enacted new regulations that makes it more difficult for owners to post vacant properties on sites like Airbnb, VRBO, and Expedia.
Last month, Freeland stated that the federal government was investigating what instruments it may use to combat short-term rental sites, which result in “fewer homes for Canadians to rent, particularly in urban and populated areas of our country.”
According to La Presse, the federal government’s housing agency, Canada Mortgage & Housing Corp., would be given C$15 billion ($10.9 billion) to offer low-interest loans to real estate developers for the development of rental homes as part of a new housing package.
Politics
Trudeau GST Tax Holiday to Cost Taxpayers $6.3 Billion
Prime Minister Justin Trudeau announced a two-month GST break on some purchases and a one-time $250 rebate for all Canadians earning less than $150,000. The proposed GST break would last from December 14 to February 15.
The Liberals said it would cover various things, including children’s clothing and shoes, toys, diapers, restaurant meals, and beer and wine. It also refers to real and artificial Christmas trees, snack foods and beverages, and video game systems.
The move will cost taxpayers almost $4.7 billion, and the GST exemption will cost an additional $1.6 billion, totaling $6.3 Billion.
The federal government is now running a significant deficit. This raises the question of who will have to foot the $6.3 billion bill for today’s one-time payments. The government will have to borrow the money, and future taxpayers must either repay it or service the additional debt perpetually.
Critics argue that the GST credit is a collection of terrible ideas that will do little to lift Canada out of the long-term economic rut in which our economy is stuck.
Conservative Party Leader Pierre Poilievre responded Thursday to Prime Minister Justin Trudeau’s pledge of a “GST Holiday” for Canadians, calling it a “tax trick.”
Poilievre stated that the temporary exemption from the Goods and Services Tax on various ordinary commodities “would not make up for the permanent quadrupling carbon tax on heat, housing, food, and fuel.”
Bloc Québécois leader Yves-François Blanchet stated he is “against any idea of a prime minister who says, ‘I will give you money in order for you to consider voting for me.'”
According to the Canadian Federation of Independent Business, temporary sales tax holidays will only increase confusion and administrative burden for small business owners.
A temporary sales tax decrease would help boost demand in some industries, including restaurants, Canadians, and companies, which require sustainable tax relief during the slow post-holiday season.
The changes amid an inflation-driven affordability crisis have left many dissatisfied with the Trudeau government. A federal election is scheduled for before next October, although it might happen sooner if the minority government falls before then.
For months, the Conservatives have held a double-digit lead over the Liberals in public opinion polls, with Leader Pierre Poilievre promising to cut taxes and government spending to restore affordability.
High inflation has also pressured the Liberals to avoid proposing policies that would boost spending and raise fuel prices.
According to the Fraser Institute, The Trudeau government got one thing fundamentally right: Lowering the tax burden on Canadians has benefits. Unfortunately, the policy package it has proposed to deliver tax relief is completely wrong.
It lowers the incorrect taxes, moves taxes temporarily rather than lowering them, does little to improve economic incentives, and punishes future taxpayers. With the holiday season approaching, this attempt at a gift for Canadian taxpayers is the economic equivalent of a lump of coal in the stocking.
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Politics
Matt Gaetz Withdraws as Trump’s Pick for Attorney General
Congressman Matt Gaetz has withdrawn as President-elect Donald Trump’s candidate for Attorney General, citing concerns about a federal sex trafficking probe that cast doubt on his ability to be confirmed.
Gaetz resigned after failing to persuade the Senate to endorse his contentious candidacy. Shortly after Gaetz’s unexpected departure, the president-elect issued a statement applauding his former AG nominee’s choice to seek Senate confirmation.
“I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General. He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect. Matt has a wonderful future, and I look forward to watching all the great things he will do!” the president-elect wrote on Truth Social.
Gaetz had earlier stated that he was retiring from his current seat in Congress and would not take the oath of office for the upcoming session, which begins in January. Now that he has withdrawn from consideration for AG, his future in Washington is uncertain.
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Politics
Eric Hovde Concedes The United States Senate Race To Tammy Baldwin.
(VOR News) – Eric Hovde, the Republican candidate for the United States Senate, has acknowledged that he was defeated by Tammy Baldwin, the Democratic candidate for the same seat on the ballot.
Baldwin acknowledged Hovde’s defeat and consented to it. Furthermore, he released a statement in which he contends that the election results are not only inaccurate, but also devoid of any factual foundation.
Eric Hovde experienced this two weeks after the election.
Baldwin emerged as the unofficial victor of the Senate campaign in Wisconsin, a race that was closely monitored by a significant number of individuals. Baldwin was awarded the title of victor on November 6th. Baldwin emerged victorious by a razor-thin margin.
According to the data provided by the Associated Press, Baldwin emerged victorious by a margin of 29,116 ballots, which is approximately equivalent to 0.9 percent of the total votes cast. Baldwin emerged victorious by a substantial margin, as indicated by the results.
Hovde issued his public apology subsequent to the conclusion of the canvassing of the results by the majority of county clerks throughout the state. This process will ultimately result in the results being recognized as official. Publication of Eric Hovde’s decision. Not only were the results announced at this time, but they were also proclaimed in an official capacity.
The exact phrase of the announcement, “Thank you for your support,” was included in a post by Eric Hovde on Monday and published on the social networking site X.
The public was notified of this announcement. The announcement was public on Monday. It has drawn a lot of attention. “It is time to begin moving on.”
In contrast, Eric Hovde’s film began with a somewhat less inclusive tone, which persisted throughout. He made this assumption without offering any evidence to back it up, and his claims that there were “many troubling issues” with absentee ballots tabulated late on election night were factually incorrect. His claims were not supported by empirical evidence.
His claims were unsupported by any proof. Not a single piece of evidence could possibly prove that his allegations were correct. He stated in the statement that “numerous supporters” had demanded that he challenge the election results. He acknowledged receiving the request.
Eric Hovde acknowledged receiving these demands.
In particular, Eric Hovde asserts, “However, a request for a recount would serve no purpose if it were not for a detailed review of all the ballots and their legitimacy, which will be difficult to obtain in the courts.”
Subsequently, you would recount the identical ballots, regardless of their authenticity. This is the reason, as elucidated in this article. This is the rationale for the current state of affairs.
Hovde and his campaign refrained from issuing any public statements subsequent to Baldwin’s disclosure that Eric Hovde had emerged victorious in the election, which transpired over a week after Baldwin’s initial announcement.
The previous week, he uploaded a video to social media platforms that expressed his “deeply concerned” sentiments regarding the election results in Milwaukee.
The election was conducted in Milwaukee. While the film was being screened, there was a discussion regarding the results of the election in Milwaukee. As the ballots were still being counted in the largest city in Wisconsin on the evening of the election, he expressed his “shock” at the sequence of events that had transpired.
Eric Hovde was emphasizing the occurrence of specific events.
In addition, he declared that ballots were still being tallied at the time of the election. Eric Hovde made this declaration during the voting period, while ballots were still being tabulated.
Baldwin’s team referenced her victory speech, which she delivered the week prior to the election, in response to a request for comment that was submitted on Monday.
In response to the campaign’s request, this action was implemented.
A representative of Baldwin’s team has verified that “Hovde has not called,” which is consistent with the information that was disclosed on Monday morning. The representative who provided these details has worked in a variety of capacities throughout their career.
SOURCE: WPR
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