Eurozone Interest Rate Decision
About the end of the year I was really beginning to second guess though. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. We had several small drops 0. I will occasionally hedge using an ETF ultra. That opened the gate to Phil's Stock World and "being the house".
Search Garth’s Blog
And small businesses have been closing and leaving the province for about that time. And our economy has been on the hot housing market. That tells you everything about the Liberals. Will never vote for a Liberal and did not vote for T2 and never will. Nor will vote for Conservative. Both the same control freaks. He says it again.
In fact once we finish with Downsview Park. Camera pans around the room. Guy in a suit reads a paper: I think a lot of the voters came from legalizing marijuana and that is how T2 got in. Language alphabets are symbols to express ourselves…. But sometimes, even they fall short of expression…. So dear readers I like to use additional symbols for expressing my views:. Kick his effing Butt in the next election.
It is not true that Canadian Tax payers heavily subsidize doctor training after medical school. At worse, residents may actually be saving tax payers money.
I mean, why would hospital doctors who can work be willing to work the graveyard shift without substantial increase to benefits? As a civil servant police officer do you know how much my wife has had to sacrifice for all the crap I bring home from work? So cry me a river Garth. Ambulance drivers wives, soldiers wives, teachers wives, the list goes on and on.
When you mortgage your house to buy a cop car, let me know. The thread is about financial risk. Thank you for your service, though. The real financial con job is the government regulators who allow systematic front-running of orders to buy or sell stocks, bonds, and derivatives by the likes of those computerized pirates called High Frequency Traders. They are in nasty cahoots with the so-called prestigious exchanges and the alternative trading venues — all with the goal of draining capital from the people who actually put their capital at real risk.
Billions and billions of dollars of wealth is drained every year from all of us through our pension funds and our investment portfolios. There are people who net benefit from taxpayer money and people who net pay taxes.
To appease the large voting population of benefiters, the government overspends on pet projects. To pay for this they need to increase taxes to the payers. The wealthy elite are untouchable because they include Justin and Morneau and their friends and people and the large corporations they control that donate to politicians. So they tax the working, upper middle class eg.
Eventually the upper middle class shrinks as taxes are a major disincentives to work. The government still needs more money as the growing number of benefiters want more benefits and the shrinking number of payers stop working as much. We need to tax things we want less of in society eg.
If Bill and Justin truly want to address the wealth gap, tax inheritances. Taxing entrepreneurs and professionals is simply a tax grab built on the politics of tax warfare. Corporations in Canada pay half the income tax actual people do. Thats also far less than us companies pay. The profits are are then reinvested in the operation or paid out to the shareholders, who pay tax on it. Morneau an email but wondering who else I can CC on it for some extra oompf?!?
Most Canadian business people are honest and pay there taxes as laid out by the government tax system 50 years ago.
The planned changes will result in and force many deals to go underground and the result will be very little tax gain for the government. I will Fix your toilet do you need an invoice or cash. As I pointed out earlier, there is no shortage of very qualified people wanting to get into Canadian medical schools.
So no matter how much they might hate me saying so, Canadian doctors are civil servants and the only difference is how they are get paid. So no tax breaks for them. Bonafide entrepreneurs deserve the tax breaks — they are getting screwed as the government goes after the more egregious examples of tax evasion.
Not on a full pension. Or maybe she started at Either way, I have no pension so in working to What part of creating something out of nothing do you not understand? Is that what you are really trying to say? As a result, lack of past enforcement incentivized game-playing. In structuring corporate and personal taxation. As long as the economy kept on moving upward, enough people continued to get fattened up.
Over-heated economies yield high velocities of money. Lack of enforcement or correction emboldens…. There will be collateral damage, to be sure. But there always is… Wrong place at the wrong time. Not wearing any clothes when the tide goes out. A dollar short and a day late. This will crush some people. It was also, conversely, open up a new set of opportunities, as the landscape changes.
There has to be a reward for taking a risk and working hard. I sent Bill another email. Amazing that they do reply back in time. If you stay civil.
There seems to be a few people on here that have never incorporated or run a company. They seem to be pretty knowledgeable about how once one is incorporated one can dodge, lie, steal their way to prosperity by cheating the CRA.
I know of other docs GPs who work 4 days a week. I knew they were going to be a dangerous lot with their demographic dominance. I have no idea what the plan should be now, but I will do what I can to pass this assault on my finances directly to my local economy through austerity in my household and knock out about k of discretionary spending.
There needs to be proper feedback so that the idiots who voted for these guys who are willing to execute the postmodern agenda can feel the pain as the malicious consequences of their agenda take hold. This is happening so much faster than I thought.
God help those of us who earn our living the risky way when the next crisis rolls ashore while the liberals are torpedoeing small business at the same time they are running 30 billion dollar deficits. Your comment is awaiting moderation. August 27, at 9: Ok I think I am not there yet. Just read the comments being posted here. Clearly class warfare is on the horizon. Hating the wealthy and successful among us is a long time cherished Canadian value.
Not really surprising Accountants are against the change, they will likely lose business. We all pay too much anyway. So, what if your small business is a corporation? Do these new rules only apply to sole proprietors and partnerships? It worked out for them… they now employ thousands of people, stimulate the economy to no end. Thousands of small business across the country are no different… just smaller, local, growing and hiring.
To the police officer who argued his wife has to put up with his stress. Remember police pensions are some of the most generous in Canada… the incorporated professional has none. Taxing a business owner like a police officer makes little sense if the goal is equitable taxation. You are flat out wrong. The Canadian taxpayer heavily subsidizes the cost of physician education.
That is a pretty heavy subsidy. You are also wrong about wages for residents. You are also wrong about what hospital management would do without residents. More providers who offer services at a lower cost are the answer. The evidence convincingly shows that NPs can do the same work as a GP at far lower cost. Thanks for taking some of these morons back-of-the-envelopes calculations to task. Moved the whole operation to Taipei, cheaper to operate, less taxes, less rent, access to more consumers, more profitable, less headache and without commies after me!
Lucky I stayed a dual citizenship, my kids will continue living here as they still need English and fresh air, after that goodbye. I wish luck to Canadian people and their government, they are nice people but many will see themselves turn into Cuban or venesuelean unfortunates within a decade or two. We, however in Asia will be just fine. There is a lot of political pressure here to make it more difficult to get these visas.
If you go the H1B route, you have to contend with the massive lottery in place. Not every applicant is guaranteed an H1B.
You could spend years just getting one of those, if at all. Is that on average? Have you actually achieved US permanent residency? They are, along with other public sector union members, the biggest opportunists around. California, Ontario, Illinois etc are in deep financial straights because of their ilk.
I suggest you check out what they can make in California. Farming, fishing, and natural resource extraction are all far more dangerous. Thank a farmer who feeds you, not a public sector union member who racks up his pension to obscene levels by claiming tons of pointless overtime.
Thank you once again for showcasing to the world, and especially to our neighbours down south, how a glorious, progressive and forward-thinking nation built on social justice, gender parity and carbon taxes thrives. We dodged the GFC. Our housing market is insatiable. Our cities are world class and everyone wants to find refuge here. Nothing can stop us now. How about they tax the middle class LESS! It scares me how many geniuses approves of this! Try 2x or 3x that. No contractor that I know of takes cheques who even uses them these days or credit cards.
Contractors are paid in cash. A friend ran an aesthetic studio for years. Yup, facials, pedis, etc, all expensed on company credit cards. It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.
The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
The squeeze is on for Canadians. More and more all the time. This is also getting more and more interesting. There is many very clever people out there. Accountants complaining about their clients being unfairly treated. That is a laugh. Talk about unbiased opinion. I praised Bill for having the guts to put things correctly with a level playing field. Who do you think pays for all our wonderful social programs!!! As for making it look like the entrepreneur is making minimum wage like his employees, some are making much more so screw that argument.
You have holes in every one of your points and it shows. A strong middle class is key. Corporate loop holes do not make a level playing field. Any consulting contract with federal or provincial governments, either direct or through an authorized agency specially these that require RFQ and RFP requires by law incorporation as independent consultant. This comes with lawyers fees, independent liability insurance, lots of liability actually, provision of tools at own expenses etc.
The same for doctors and professional corporations. The additional expenses and nature of these Businesses as well as the lack of benefits requires incorporation. The very suggestion that corporations are established in order to avoid taxes are laughable and Bill M knows it.
The disturbing part is that they go beyond that, they want to tell the owners of small private corporations to whom and how much to pay in salaries. Bill M and Trudope buddies. There is no increase in taxes for stock options again not to distress Bill M and Trudope buddies.
Mister fairness does not say a word about the lack of capital gains taxes on private residences. As for the general lie-beral depending on handouts public: That will be outsourced to big companies Like the one that screwed the Obama Care health site a big Canadian company due to lack of competence so they were booted out and Accenture had to fix the miss.
Other people not in a corporate holding situation, but just a regular cottage owner must rent the cottage, take out a business license, do all the proper accounting for the rental in order to get just a few legitimate costs tax reduced.
Mir ray is finally levelling the tax field. The families within corporate writeoffs get way too much money compared to to families not within that particular structure. Not sure why people get so excited over this. Canada is a socialist wasteland. Anyone with ambition goes to the USA. Never has never will.
Disgusted to see the disdain of some posters trolls applauding the upcoming tax grab. A big side effect will be the talented leaving and the underground economy growing. You do realize that we are already taxed to the hilt with income, property and sales taxes. Self-employed people generate and pay plenty of tax already. A lot of hand wringing, drooling, jealous readers coming out of the woodwork to comment on this post.
You are a accountant in the U. Remember who accountants are working for. Not the average Joe. By federal law, all accountants have as their primary client the CRA, not the taxpayer. This is why tax lawyers are thriving, since only they can promise confidentiality and a duty of care. Perhaps the tax rate for all small business owners ought to be lowered. However, keeping in tax loopholes creates two classes of people: It seems in total opposition to conservative values to say that people who are less scrupulous ought to be taxed less.
If what you really want is to promote people to get into small business, then create a specific small business tax deduction and incentivize creating small businesses rather than lying on your taxes. Years ago in Copenhagen on business, I asked some quite wealthy acquaintances why there were so few expensive vehicles there. They all loved cars and a few had vintage cars in their garages.
Both sides of this debate are whiners. Sure, there are tax loophole cheats a-plenty. But there are also lazy, unambitious weed-monkeys a-plenty. Any economic system based solely on greed will ultimately fail. The only solution is the same one that I started with on this blog many years ago: Stop electing banker puppets.
Everything else is noise. Who is it borrowing from? Why are these questions never asked and therefore never answered? Well, I know why. Loose thousands of jobs, and votes.
Liberals need to look in the mirror. You are the problem. Smokey has Right idea. Sell everything, leave observe from the beach. Wife and I are thinking about it. Year end in September. Accountant and I will long discussions. Could someone smarter than me clear up a simple question:.
If they do go ahead and tax investment income on retained corporate earnings… does this apply to new investments only after , or ALL investments held by the corporation, past and future? By the time the lawyer gets the file the damage has already been done. The tax filings are the tax filings. The CRA has those. Most people cannot do sophisticated tax filings using lawyers alone. Accordingly, once the CRA is on to you you are as good as screwed. The government has stiffled big business …..
Where are we all going to work? And if they do well …. The nay Sayers all have the same opportunity ….. Most small business owners do not make a ton of money. So a few tax perks here and there sometimes keep them from giving up. Doctors represent less than. You have to create and environment that spawns creativity and NEW business ….. It is sad to read the comments here and understand that some mindless brainwashed government serfs think that I am a tax cheat for doing so.
Makes me think of the advertising pictures I seen in the bank depositing cash — declaring my income no less yesterday of all the mindless hipsters celebrating debt. Plus, a nurse practitioner will work 40 hours a week.
Anything overtime is paid at time and a half. I would say 80 hours is the average. You are wasting your time. The corrupted headstrong lie-berals have already decided on this one. They are intentionally arrogant, part of the game folks, part of the game to show you the upper middle class your place. Caleb Landry on But if you make times more than they take home watch out: She did not get back a penny of that money.
I know a lot of other teachers who complain about having to spend their own money on classroom supplies too. Can the ambulance driver mortgage his house to get over PTSD too? Because I know a couple of them that would consider it. The big money is. Wake up folks, ya think the next election matters? Spend your time wisely on work arounds. Try and stay one step ahead. Earnings are worth less due to never ending tax increases. Houses are worth less due to price killing measures.
Everything you buy today will be cheaper tomorrow. This seems to be what happens when interest rates rise. I think a possible workaround to continue sharing income with your spouse is to divorce and then remarry.
Most Family and divorce law would would allow the spouse to take ownership of half the business. He does have some strong qualities. Try it for yourself then…. I am buckling down to try and pull the fat from the fire for my retirement.
I have a bunch of carry forward RRSP room and with some fancy footwork, this might work. Brave and uninformed opinion here. I am keeping my powder dry for a while as the markets will slide, in particular the Dow. Much of what we have seen in terms of its gains since November 8 are due only to the Trump Bump and his proclaimed legislative agenda.
First and foremost was the lowering of corporate taxes. He will fail completely on all of his legislative initiatives and folks are waking up to that. With lack of restraint of the public purse by any party, will this not lead to crankiness about how much one has to pay for it? Lack of confidence in a leader and their policies does not yield in a desire to pay more taxes.
As much as I like Trudeau for his socially progressive ideas, electing a former teacher was a mistake. Trudeau had everything handed to him via his father. Just a suggestion Garth. By the way JAKE, higher taxation is going to get worse, not just in Canada, but everywhere in the G-7, and it has nothing to do with political party , and everything to do macro economics. At some point revenues will have to catch up to expenditures, then presto, you have appropriate levels of taxation. Canada is from public servants and for public servants.
It is a communist country where entrepreneurs were allowed to setup shops. Jake — Cool story, bro. Canada looks more like a developing country. We do low end outsourced functions for multi-national corporations, and we sell resources, but besides that its not like we have a bunch of multi-national corporations based here.
Corporations that already play within the rules will not affected. Sorry Garth, everyone should pay their equal share. Imagine if that happened to your paycheque, or if your RRSPs were suddenly made taxable.
The biggest issue with these proposed changes is that once government singles out a group for alleged fiscal benefits, they are opening the proverbial box of Pandora. How more changes will be coming? Who would expand an existing business let alone start a new business with the very real threat of a government looking for ways to increase taxation on the profits of that business?
Not every single Province doing their own thing. The physicians, nurses and staff would be paid according to a set federal tariff. ALL Doctors are paid from one single employer as it is now. Why give them the option to setup a corporation to avoid taxation. Just pay the Docs their fair wage according to a competitive pay scale. The Feds are just creating more problems with their proposed tax changes.
This could have been addressed allot quieter and within the group of tax payers who are affected by this. One bright spot for you guys..
So each year the government decides to give each other generous salary increases. But the only people that have money to tax to pay for those increases, are the government workers and subcontractors.
Do you know why average Canadians decide to quit being wage slaves to major corporations and the government? This reminds me of the same change the Conservatives did where they allowed income splitting for households where one spouse earns the lion share of the income.
The Liberals were quick to remove that when they got into power but now they are bringing back the much less palatable version where everyone gets taxed! Like everyone on here, I want a fair solution and I saw the equity in the way the Cons did it. I feel like that was a simpler and better approach.
This solution is too complicated and over-reliant on bureaucracy. One of the biggest shorts in history currently developing down in California. Not sure if people can see this.
There is no way in this universe that they can ever make even a dime of profit. There is just no way. The most massive tech wreck in the last 20 years is spinning up into the mother of all crashes. Typical right wing cheapskate ahole. Yes, I have a corp. I do split income with wife, who is taking care of home but she had to give up her job so now there is a spot in the market for someone else to take it.
We are considering she will go and work again if we have to pay more taxes. It is a nonsense proposal from this government. You are right — I conflated residents with hospitalist physicians and that was a mistake. There is no comparison between NPs and residents. Totally different setups, roles, and responsibilities. They have woefully underestimated how many people this will effect, and consequently woefully underestimated the effect on the economy.
This will be a burden on far more than just the professionals, doctors, lawyers, accountants, as they have currently predicted.
To act on this scale without knowing the impact that it will have just shows an incompetence that no Canadian Government before them had, with regards to taxation.
Because contractors and small businesses do not have pensions, etc. This was both legal and intentional. Now the government is suddenly saying that they are going to tax those incorporations at the highest marginal personal tax rates.
Your retirement savings would be effectively decreased by a little more than half. That is why entrepreneurs, professionals, and contractors are understandably upset.
I derive great satisfaction from the fact that I have not paid income tax in Canada in many years and never will again. What I find bizarre is the Stockholm-Syndrome weirdos actually applauding this.
How pathetic and frightened does your life have to be to think that trying to take from the bold so the mediocre can prosper, is a positive thing? But when a government is overspending by tens of billions a year, they can look elsewhere for their spending money, thanks. You have my sympathies. This will not end well for the government or the country.
Smoking Man nailed it: They just leave, find ways to overcome the measures, or stop trying. Just come out of the closet, already! I am a partner in a small incorporated business in the U. S and planning to remarry soon. To all other small business owners who bemoan the unfairness of it all, take a good look around. There are so many young people trying to stitch together a life working 2 or 3 part time jobs, in areas where prices have gone through the roof.
They have zero chance of ever getting ahead. Ask yourself, you miserly AND ignorant few, where you would rather live, in the U. S or in Switzerland, Sweden, Denmark? There is tremendous social cost if you choose the U. And remember, too, that the lower federal and state tax is often recouped through higher property taxes.
By all means, move to the U. S and enjoy living in a country with a death penalty, private prisons and a national debt that is unsustainable and consider the consequences. I have no issue with them making more — but if I cannot sprinkle my income among my kids and spouse, nobody should. Such a load of crap on here today. I left years ago….. In the past ten years alone I have been in Texas and Thailand…fantastic lifestyle.
I have lost friends and relatives over pool shots and beach resorts. Life is so much better elsewhere…. I going to Malta next….. Thank you Garth for highlighting the lack of consultation and for raising the awareness. I sent a message to Bill. Imagine an announcement few year down the road, some other schmuck maybe the same one comes on TV one evening and says:.
It is gone folks. Depends what you mean by arbitrary. If you mean that the Government did not think this out then I disagree…. If you mean that it was arbitrary by virtue of the fact that there was insufficient public debate then I think that is a fair point. The Libs likely saw an easy win with voters and wanted this implemented quickly to avoid the angry lobbying of those with vested interests…..
You are one smart boomer kid. I have my own business with employees and most businesses I know run on small margins. As I said before every action has a reaction. Same like — a lot of companies laid off workers and never hired them back afterwards. Time will tell but I have already let go 2 employees.
Makes the other people work harder if they want to keep their jobs. You are living a pipe dream if you think more taxation and cost for businesses is going to make business owners take more risk in order to keep their existing lifestyle.
From all the comments on this topic — the conclusion that I draw from the people who are happy with T2 and Morneu is that they are jealous that their employers are making a lot more money than them so yes — go ahead and tax them more but do not have the guts or the capability to start their own ventures would rather stay an employee while hoping that they make same as what their employer does. As an employee, you need businesses and employers around or you will be out of a job.
So think twice before hoping that your employer makes less money because that petty mindset will cost you dear in the long run.
Maybe Garth can run a poll here -would you hire T2. I did hear he dances pretty well at the events. Does the strategy of setting up a separate family management company to pay your children add a little extra complexity to the strategy? But no more complexity than having to withhold and submit payroll tax. And if you have multiple children, the cost savings can be significant. Is this an aggressive tax strategy?
Remember, the tax courts agree that individuals have the right to strategically use the tax code to their advantage and lower their tax burden. The key is to have a qualified tax strategist set up the plan and show you the rules to follow. Then, as long as you document everything carefully, there is nothing to fear when using legitimate tax strategies. These are the people Mike on Switzerland, Sweden, Danmark, Germany all have family taxation.
Only person who employee that front desk and nurse is the clinic owner. Clinic owners are small or big business in real. But is employed by clinic owner. Keep hearing that Dr. These are real people. The more liberal the society the less we say that. In some cases it is simply unacceptable to say that so we never do.
No shelter from the rain in this hermit hovel. Taxation is the opposite of that. Other people need it more than you. The more liberal the government, the more money they will transfer from those that can to those who need with the ultimate left leaning form of government being communism from each according to their ability to each according to their need. Communist societies usually have little to no production of goods because why bother if the government is just going to take everything you produce and give it to those in need?
So the question is always how much can we force the hermit to become civilized and give away some of her stuff to those in need?
The principle breaks down of course if you have a hermit who is a global citizen, with an education recognized around the world and who is very mobile. Nice try…but YOU missed the point. Sweden has very high income tax, as does Switzerland, Germany, etc…all civilized societies.
Those who want to avoid fair taxation by moving to a third world country, like the U. S, have to be prepared for all of the social ills that go along with being an unjust society, including their abominable health care system.
If your taxes are low and your food is cheap, where you choose to live, someone is getting screwed over and that could easily show up in crime stats, social unrest. My guess is the opposite. Why work so much, when you keep less. If Trump can ever get lower business taxes passed or anything for that matter why would a company want to operate in Canada with a rising tax burden? Just hoping when it blows up someone will actually be able to pay me. The options pricing is nutty.
By my calculations, the product cannot be produced for under around 60K US per unit. This is going to blow sky high.
Receptionists are employed by clinic owner, not doctor. Maybe one off, but mostly the clinic owner- not doctor. If you dont know how it works, dont comment. I personally know people who work in the system, including clinic owners who are real businesses i agree and should get all tax benefits of running business.
But not individual doctors who just exploit it. They are not small businesses. There is not fair taxation. Fair is subjective and I won;t accept it when it comes from you or Bill M.
There is just taxation, i. Switzerland has very low taxes. It is a capitalist country. Top health care in the world. The nicest place on earth is not BC but Switzerland. Germany has higher taxes for individuals but much lower for families. Education is free, you have excellent health care, good pension, nobody works on the weekend, laid back culture where drinking beer in public is not a crime.
Denmark is expensive with highest taxes but again you get everything you need. For none of the 3 countries above I have not heard about a single case where: A smart person can not complete university 2. Retirement is mission impossible as is health care how are these waiting times working in Ontario?
People live in glass condos, moldy basements. Just a thought… ————————— You are so dumb. So if I wait a long time in line at the DMW for my renewal sticker, reducing the pay of the staff that services me will make them work harder?? What clinics are you talking about? If you work at a hospital as a doctor, you have salary. Many family doctors have nurses. Both are quite entertaining.
The Northern Circus is all about love, love , love, peace and pass me that joint! All the time your wallet is being raped by some smiling circus clown who will do selfies with you while he is screwing you. At the same time your asking yourself WTF did I actually vote for this clown! The Southern Circus is all about hate, hate, hate war, and pass me that ammo!
This orange coloured clown smiles a lot and tells you lies while you can actually see the truth behind him in living colour. When the truth behind him contradicts his lies he just lies more and smiles.
Either way they are both scary circuses. Alcohol content of Carling is lower than advertised, owner tells tax court 28 Aug After taking few insults from you, let me finally declare your stupidity has no limits.
I call it out. My close friend is a doctor single so no chance of family paychecks, is all for Morneau rules. He has no receptionist on his payroll. None of the doctors in the clinic he works has any receptionist on their payroll. And we will be the biggest producer and exporter of transgender washrooms in the world, pretty good Business Eh? My stance on the hiring of T2: He would not get pass the resume pile and will get tossed aside.
Too full of himself. I think living under union protection and off taxpayers money may have affected what happens in the real world. I would suggest be forceful so that they give you the true answer. Tell them that you thieves are just not paying your fair share of taxes. Make sure that the prescription receipt is signed off at the end. I think T3 has more than enough qualification and experience to be hired as a quality tester QA for the weed companies.
I burst out laughing. Spouses that never stepped foot in the office. Hundreds of thousands of unreported income. Yeah, they took a lot of risk and worked long, profitless hours to get started. They earned their millions, but a spade is a cheating spade and this legislation will claw some of that back. Hey wait a minute. Maybe this is part of nafta. We get the illegal immigants and refugees from the usa and they get our doctors lawyers and anyone else who has any ambition to succeed from us?
Trudeaus negotiating skills are showing…. Was it that good ol Maggie Thatcher that said something like the thing about others people money is that eventually you run out of it? I think we have run out. This is the tipping point for us. We will be raising our fees and cutting our hours. People need to step back and see the real problem.
Government is a disaster. It hurts us all. We will all pay. First they will come for us but eventually government will have to take a cut too as we have run out of other peoples money.
God help us all. We should be trying to solve this together as taxpayers instead of allowing the government to manipulate us to turn on each other. You should have called up CRA and told them about it once you left. Not sure if there is a reward for being a whistleblower. They are earning their pay! I would rather see Doctors make more money — if that means that I get a few more minutes when I visit….
Sometimes policy is planned. Often though, it is driven by the whim of an uninformed politician or senior bureaucrat — and then bureaucrats must jump through hoops to make it all look nice and somehow function — however badly… I am not kidding…! This new policy appears to be driven by whim…. Closing unfair loopholes is a good idea however, this policy looks more like a drowning man grasping at any branch — and finding the one that is just holding a big bolder back from falling….
You said two dimensions and you completely missed a third dimension, which is Christian charity and decentralization, where the family is the cornerstone of welfare, and discipline against poor behaviour. The atheist liberal-communists get away with not caring by wanting a central distance government to do the caring, instead. The comments on here crying for equality and fairness are laughable, and it really saddens me to know that these people have the ability to vote.
Skilled labour earns the benefit of earning MORE then non-skilled labour, simple economics. Risk takers, if successful, should earn more then their counterparts. The term gravy train might be a bit optimistic. Of course accountants are bitching. OMG over posts? Who knew there were so many whiny doctors, lawyers and CPAs!
Why are you being obtuse about this? Also, the author acts like every single employee in the private sector has some sort of juicy pension like the one he is sucking from the Canadian taxpayer as he writes it.
Most Canadian employees have no, or a very scant, pension. Look into the books of any suspicious small corporation and it should be easy to find the cheaters. There's more at Garth's corporate site. It is provided as a general source of information only and should not be considered to be personal investment advice or a solicitation to buy or sell securities. Investors considering any investment should consult with their Investment Advisor to ensure that it is suitable for the investor's circumstances and risk tolerance before making any investment decision.
The information contained in this blog was obtained from sources believed to be reliable, however, we cannot represent that it is accurate or complete. Proves what a great decision it was to move out… Cheers fellow Canadians! Tax loophole is the lack of capital gains tax on principle residences.
Keep up the good work: The country may be cooked. Time to move on. If this is too political…delete away Garth. Squash all incentive to work and control the people. That is so sad. Cesaire I agree…they know what they want for you, me and everyone else. I mean really, Garth, what did you really expect? Would it make sense to acknowledge there have been some abuses and try to stop those? Or are ALL tax increases, including closing loopholes always bad? And supposedly Trump is reckless and clueless?
It would appear so…… 37 CONservatives are elite scum on This needs to stop. But what if we need doctors? Anyone knowledgeable please advise. Thanks, H 51 Blobby on Will sole-proprietorship reduce paperwork per year? Thanks, H … Take it and run 55 Stone on Sounds like you want it both ways? I can forgive those who voted Trudeau, but nobody should have expected good things.
I voted NDP, but my local candidate was decent, which is rare for those guys. Ever hear about a bankrupt doctor outside of malpractice or a bad divorce?
Many will never vote Conservative again. Look at the world, look at Canada today. Ordinary people will do better, and be more empowered to take risks and create businesses. Just another Mirabel moment. Hopefully voters will hand in the final check to liberals at election night. I have to say, hands down, this is one of the best educational experiences I've had in my life. I've even gotten my wife accountant into the webinars and she wants to master this concept of selling premium and making smart, conservative investment decisions.
She'll eventually use this knowledge to manage her clients' wealth and make smart investment choices for them. Bib big thanks Phil!! The strategy you have laid out pretty much mirrors much of my trading activity. I also mix in some momentum plays and "drop dead" bargains that come across my radar. There are a lot of us that have been here a long time and we all learn something everyday. Just keep asking questions, there are a lot of smart people here and they are willing to help and then of course, you have Phil.
Thanks for your thoughts against buying BP ahead of earnings yesterdays' member comments. Phil - I caught the interview…. Your host recommended that the viewers should " go to your site, as you will be entertained ". That is for sure if you consider entertainment is laughing while you read, learn and make unbelievable leveraged profits that you never thought were possible.
That is my kind of entertainment! Phil — gotta thank you for your advice this week, and especially today. I took many aspects of your advice this morning, with all of my shorts -- being prepared on the short side, selling into intial excitement, taking the money and running, not being greedy.
It used to be I would be terrified of weeks like this one. Now, it feels somewhat comfortable, for want of a better word.
Hey Phil, You called all the trends and market movements with perfection this week. Thanks for keeping us sane! Well I want to thank P. Davis for his style and for the fact that he affirmed my thoughts for a correction.
He was right and his confirmation of my bias saved me thousands. Davis is amoral when it comes to money. He realizes the poor are screwed but we must fight to win. A measure of sarcasm and dark humour and it is great reading. This was incredibly helpful. I actually sold out of my small short position at a good profit which was more a bet on a short term fluctuation rather than a hedge after listening to you and will look more deeply at my portfolio and how to hedge it.
Thank you for your sharing this. Thanks for the recommendation Phil! It was nice to cash in on a momo. Hey Phil - writing to thank you! First of all, and I know you have heard this a few times form some others - the portfolio updates you have done - with entries and targets and even margin reqs are invaluable!
One week of patience and scaling in and out pays off. This is a testament to Phil's fundamental analysis with the PSW technique. Good to have you by my side. I think you are selling yourself short — you need to triple your prices: Phil is a master at keeping you laughing, as well as making you money. I enjoy your informative materials, Phil As a longer term trader, I really like you long term calls, as I for one recognize the difficulty of calling these, because the further out you go in time, projecting price movement becomes more difficult.
I have to congratulate you for your accuracy Only one who has been a student of the economy and the markets over a period of time could have done this, and so many other accurate calls. I'm sure it was difficult and consistent work, but it did pay off Greetings Phil, I am an Economist at Harvard and some of my colleagues and I would like to let you know that we follow your posts on SA, and find your analysis refreshing, rigorous, and acute.
Though many of us including myself have our work covered in the Wall St Journal, in many ways your macro commentary is more fearless and accurate than what is generally found in that venerable publication.
Newer member here, but just wanted to say thank you too. I've learned so much and I hope you'll be around for a long time helping us learn along the way. Phil Thank you very much, I appreciate your help and wisdom. I have been very fortunate over the years as an investor. Last year was on of my best in terms of percentage gains. I have to attribute much of this success to my membership in PSW which gave me the best education available anywhere when it comes to the understanding of option trading , discipline and general trading strategies.
I will be forever grateful to Phil and the many "highly skilled" traders that have offered their advice. I read with great interest your statement the other day that the DX is unlikely to break 76 or there will be great hell to pay, torrential amounts of tears shed, and gnashing of dentures all over the world. Almost to the point that I'm beginning to think that maybe I'm completely wrong about my political stance as well. In any event, I wanted you to know that this has been my third execution based on your comments and recommendations that I have followed and this one has also worked to my advantage.
My subscription fee has been more than justified for the next year and there's some left over to pay for my stay in Toronto this week, dinner at Joso's in the Yorkville section of town.
If I smoked I'd have a Montecristo to salute you. Be well, stay well. Phil, I have to hand it to you. It seemed that you were the only person on the planet that thought stocks falling was still possible.
I am glad I listened. About the end of the year I was really beginning to second guess though. Thanks for suggesting taking some profits last Nov. It no longer looks like I missed much. Thanks for all the work you put into this site. I have looked at a few other option advisory or "mentoring" services this year, but no one offers even a fraction of the content or the level of services you provide at PSW!
An hour of reading you guys and I already paid for two months subscription! Cory Booker for President. Thanks for all the good futures guidance Phil! Having one of my best months yet.
Phil — just wanted to say a sincere thank you for teaching me how to offset, hedge, roll, and not panic. Nort Korea's foreign minister told the UN on Saturday that North Korea "will strike premptively if needed" and the US countered by sending bombers right to the edge of North Korean airspace in a massive escalation of events not seen since the Cuban Missile Crisis — yet the markets are just shrugging it all off this morning.
Ever the diplomat, Trump followed that up Saturday night on Twitter, posting: Of course, Trump is just following the grand tradition of name-calling practiced by all our greatest leaders, remember when Kennedy called Kruschev "Little Nicky"?
No, of course, not, becasue President Kennedy wasn't a moron! I know, it's almost hard to remember what a real President sounds like these days, right? We had several small drops 0. Not only are we under the threat of Nuclear War breaking out at any moment who's less impetuous, Trump or Kim? While the US equity traders seem completely oblvious to the danger. We have been playing this stock since it was less than 0.
As of last December's report, ABX had What's cool about ABX is their low-cost extraction makes them a good candidate to weather a downturn in gold while an upturn in gold quickly drops right to their bottom line. It's a busy data week, highlighted by an even dozen Fed speeches, including Yellen tomorrow at lunch in Ohio.
The Fed National Activity Index weakened in August and we're wating on the Dallas Fed but that's likely to be down due to hurricanes and Consumer Confidence is iffy tomorrow and Durable Goods on Wednesday should be a miss and GDP on Thursday should be revised lower so, needless to say, we're still shorting the indexes!
This entry was posted on Monday, September 25th, at 8: You can leave a response , or trackback from your own site. I am about hours into learning about investing. While, I have tried other websites along the way, they don't teach or focus on selling premiums and certainly don't have your mindset. Anyway, I have a lot to learn and look forward to the new portfolios.
Three years, ago when I started my journey on this board I would be freaking out panicking as to what to do, as many of the short calls are ITM, Three years later today I look at the screen and serenely process the information. Three years ago, I inevitably made the wrong decisions which cost me a lot of money. Three years on I calmly roll the positions to whatever makes sense. No drama, no hair pulling, and a great cost saver.
I guess they call that the power of education. I really would like to meet all of the posters here who seem like an intriguing bunch of intelligent, opinionated without being obnoxious or condescending most of the time , and well spoken people. Not so easy to find in this age of instant gratification and me first attitudes. Usually this results in groups where misinformation is used to gain an advantage, or whatever it takes to beat the other guys. I love the one for all, all for one vibe here, sharing your best ideas and helping each other work together for a common goal, to be successful investors!
I did the same thing via your logic sold puts that is. This is PSW though and to us it's just another day…. I discovered PSW while reading up on the US economy and how it applies to all the poor folk of the world and to myself as a humble UK desk slave. This year I put time into learning options trading. I upgraded with great administrative difficulty!
Now I am an avid reader of PSW and subscribed for voyeur membership. Initially feeling out of my depth struggling to keep up with the peculiar language of options traders, I unsubscribed feeling a little under confident and uncertain if the small stake I have to invest in options could generate enough to justify my PSW subscription.
Nevertheless, I've benefited considerably from the member's material. From a small number of initial trades, I've exceeded profit targets enough to consider re-subscribing in some capacity. Thanks for the knowledge and more than anything I appreciate the human angle, the humour and the ecologically sympathetic approach rarely seen in other financial media.
Best wishes all - Jon. Why were the analysts wrong? But analysts never do the math in their articles nor very rarely bring up or discuss the ramifications of currency fluctuations.
I don't include Phil in this group as this is a valuable lesson I am learning from him. I don't know how you do it, but thank you. Phil you are great, and not only is your market info spot on but you have the courage to call it like it is and write about it in a great tone. Phil- I am a former portfolio manager and now retired.
I have been following you for about six months and I now know why you have so many followers you are very insightful and knowledgeable. I have been here a year, and made most of my money back from the 14K fall. The people here are more than willing to help whe Phil cannot get to it. FWIW - This site is my brokerage firm, I was with Wells Fargo Portfolio and it was costing a fortune to trade, the costs here are more than offset with the data, trade ideas and profits you should make..
Paid for my subscription!! Thank you once again for turning a bad market week into a great personal week. You will be happy to know I am back to cashy and cautious with a few of your favorite longs into the weekend.
Thanks to Phil, JRW and all the members who share their knowledge here. CZR — well that was fun! Opened the play yesterday. As the arb premium was now almost all gone from the box spread today, I just decided to close it. The rundown, after all commissions: It is amazing how much confidence you engender, Phil……….. It all helps the mental and emotional discipline of the trading too.
You have so many of these awesome little tricks in your playbook that it really amazes me. I toally love your analogy by the way: Do you want insurance that you have to pay for, or do you want insurance that pays you?
You never cease to amaze me with your thoughtful perspective on a myriad of different issues and challenges. It's kind of an embarrassment of riches since I joined this board a few years back. The ride from Dow 9, or was it 8,? I wish I could have it all over again, except with the capital I have now. I have been a member off and on for years. Phil's Stock World has been the most important site in my financial life.
It's impact on me over the past years has been huge. As have my tax bills! Now I fish with many lines. It is amazing when you go over the same information time and time again, eventually it clicks. The trade was put on one year ago for a net credit and exited five minutes ago for a 49 dollar per contract profit.
No point in waiting till opex to see what happens, and I will just sell 10 of those VLO puts to make myself net the round I no longer worry about opex coming as I have adjusted well in time for most positions that go against me. I would never be in this position if it were not for Phil.
He is a treasure, pure and simple. The goose that lays the golden egg if we care to listen and practice. Phil, a mighty big thank you. Oxen directly and Wilkinson indirectly are making me a great day trader!
Props to Andrew for another little nugget last night: And helloooo STJ - a few days, but nice pick nonetheless - esp with early cover premium. I'm just starting my second year as a member, and I'd like to thank all of you for sharing your trading ideas and insight, and especially Phil of course for great all-around investing advice as well as trades!
In addition to learning patience and profit-taking, I think one of the most important things I'm learning here is to stick to stocks and trades that suit my temperament. And wow, I had NO idea how hard it was to learn patience. I should say "practice" instead of "learn", because it seems to be a constant struggle. Phil, please keep reminding us how nice CASH is! Those poor producers, no matter how much they suck out of the ground the traders can't get enough. Warren Buffett has been investing for nearly eight decades and has seen thousands of new highs and several market tops.
He always expected the future to look better than the past, and this is a view that he still clings to. The iPhone 6S has been a major disappointment for Apple — Apr. Page 10 — Apple iPhone 6 sales disappoint, shares plummet 7 ….
The Model S came out in June so 5 years to the Model 3 with only one company pushing. Now the Big Boys are in the race with all their assembly lines and global logistics already in place — the next 5 years will not look like the last 5 years at all! So Buffett can be as overly optimistic as anyone else. I think Google should have a feature where you roll the date back to whenever you want and then all the news and results you get are as of that date.
That way, you could get a good picture of what was actually happening on a past day in history. If that merger does take place as expected, that dividend will be very secure.
Nat gas looks good here near that rising lower trend line… still like UNG? What's your favorite non futures play…. Frontier customers who lost power saw their FiOS services automatically restored once electricity was available.
Logically, that indicates the storm caused little disruption so, logically, why should oil be so high? North Korea now says Trump's tweets are a declaration of war and they now have the right to shoot down US bombers — even if not directly over their air space. What a F'ing World we live in! Not to say too much about politics, I do have to enter one little point, following the above remarks. Yesterday we did have the German elections and to no surprise for me, the right wing party AVD became the third strongest party.
Even that it was to all others dislike, the party gain the same amount of votes in the east part of Germany as the CDU, leading party. Principal the party is opposed to the overwhelming inflow of Islam as well as uncontrolled immigration. These results obviously to my opinion was the fear at the present situation of many Germans. But to compare the AVD to the Trump party is just a plain insult to this party. No one wants war here, we seen enough of it. I trust nino Dumbo has never been or seen close up war, possible only played and wants to continue playing war games.
The man is surely getting out of control, and submits US solders as Pawns on a chess board. Test comes days after U. President Donald Trump sharply criticized Iran in U. The current corporate tax rate is 35 percent. The Politicization of Everything. Everybody loses in the Trump-NFL brawl over the national anthem. Investors worry this could pressure financial markets if global economic expansion fades. Amazon AMZN is making huge physical bets in defiance of the retail apocalypse.
Toshiba chip unit deal delayed by Apple. Intel announces eighth-gen Coffee Lake desktop processors. Sprint lower on reports SoftBank will take market value in merger. Are you still positive on it? The position I adjusted to was:. Gold and silver shot up this morning too. Oil is up on escalating war talk and not just with NoKo, Trump has been pissing off Iran too.
And it's Monday — Monday's are generally low-volume BS days. So guess what I have? Stocks slightly lower as Apple, Pyongyang weigh. AMD, Nvidia fall after Intel processor reveal. Football ratings inconclusive after Trump's boycott call. He seems pretty bitter. I liked his technical analysis and charts better..
Not so meaningless Monday… seems Trump wants to push Kim over the edge. I think he does want a war to cover his problems, like bombing 7 countries isn't enough… lord help us. Site pretty much has been offline all year. I reached out and got a non-committal response from one of his kids.
That was months ago.