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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
The Fraser Institute has released a report slamming what it calls the provincial government's 'so called' balanced budget.
The right-wing think tank claims BC's growing debt remains 'hidden' in the province's capital budget which could pose 'serious challenges in the future.'
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All levels of government will typically borrow money to pay for capital projects such as roads, schools, bridges and hospitals and record the annual interest payments and amortization expenses in the operating budget.
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Wen said the government plans a $184M surplus in its operating budget for 2014-2015, but despite the surplus government debt is slated to grow by $1.9B this year.
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According to the Canadian Taxpayers' Federation pegs BC's debt at more than $62.3B and their debt clock keeps ticking.
They say each BC resident is on the hook for $13,533.
Lets see here, gas tax in Canada is divided among the "Government of Canada" (6.6 - 7 billion) which 2 billion goes to municipal infrastructures (5 billion pocketed) and the provincial taxes (8 billion) are used to fund road repair and construction across Canada. So that should take care of roads! http://i.imgur.com/ICj9cGX.jpg
And arent we paying tolls for our new bridge... arent our taxes paying for services like schools, privatized hospitals and welfare? How much taxes are collected from British Columbians every year?
I read another article from last year which claims
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B.C. may be better off debt-wise than some other provinces, but the debt is growing by $18-million per day, the CTF calculated.
What I would like to know is where all the money made from extracted resources is going?
There is so much debate on this forum about petty expenses but lets figure out what the real balance sheets are.
British Columbia's main natural resources;
lumber,
copper,
coal,
natural gas,
oil,
zinc,
gold,
silver,
nickel,
iron,
and fish
Like where the fuck is all the money that we extract from coal alone? look at this chart!
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The twenty five million tonnes of coal dug out of British Columbia each year causes more climate pollution than the national economies of 126 countries.
what do you expect from the government? honesty?
even for the research bullshit and running ads to say we have a balanced budget its on taxpayer's dime
I just thanked cic... What has this world come to?!
But I completely agree, huge debt, quality of life for the average bc resident is less than what it was 10 yrs ago. Continued sell off of assets and land to the highest international bidder.
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Fraser Institute
edit: for MoBettah et al. the FI has been caught lying, misleading, and spinning facts countless times in the past a more serious incident occurred about over a decade ago too iirc due to the blatant lying about the health care system (give ur head a shake)
This thread isn't going anywhere. People with no finance background shouldn't even be involved in a discussion like this. These stand-alone figures are NOT the way to measure the health of a province's economy.
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Its just a population to debt ratio thing... you'll definitely pay ~10+ folds more in your lifetime as Canadas debt will forever rise and our Canadian currency will keep losing value due to fractional reserve banking practices (inflation).
I found out that the coal exported out of B.C. was worth $5.7 billion at 24 million tons in 2013.
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India wants to buy a bigger chunk of B.C.’s vast metallurgical coal reserves to feed its growing steel industry, a potential boost to the province’s No. 1 export business, worth $5.7 billion a year.
British Columbia's main natural resources;
lumber,
copper,
coal, ............. * $6 billion worth in 2014 - extraction costs - shipping = ? profit
natural gas,
oil,
zinc,
gold,
silver,
nickel,
iron,
and fish
I had seen another source stating 2014's forecast to be 26 million tons so the total could be over 6 billion.
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If someone wants to start a business to make money, the bank would give you a loan, with interest, to start it up with confidence knowing that you have assets it can seize in case you fail.
Extracting resources is the same where Canada can get a loan from another country, extract its resource, sell it, pay off the loan over time, and continue making profits in the later years. If we look at coal itself, Canada has large reserves so the country that loans its money will have confidence in our assets and will set conditions if it were to fail.
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British Columbia sits on vast coal reserves of an estimated 13 billion tonnes with several proposed metallurgical coal mines in the environmental assessment process.
But the way our occupied government works is that the Crown Corporation has setup shell companies to contract and extract our resources, basically taking what it wants.
The Crown owns Canada and will do with it what it wants, specially by raising its debt and charging something like 40 billion a year on interest alone.
What do they mean by this? And why the hell would I care?
Can someone please educate me?
Would I be personally be responsible for $13,533 that they owe? Are they gonna start collection against their citizen?
Total Debt / Population = Debt per person. They do collect on it and they call that collection process taxes.
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What do they mean by this? And why the hell would I care?
Can someone please educate me?
Would I be personally be responsible for $13,533 that they owe? Are they gonna start collection against their citizen?
Are you serious?
How exactly do you think our government works?
You pay, they govern. It's the basis of our entire civilization. Doesn't matter of you are a democracy, communist, facist, or a plain jane dictatorship.
So yes at some point you are going to have to pay that 13,533 dollars. I'd argue that the sooner you pay it the less interest you would pay on it.
I'd like to know how the 13,533 is calculated though is it per adult, or did they use children as well in their calculation?
If it's per adult I think they should just make a special assessment like your strata would and pull a one time amount from each individual. My thought process being its $13,533 now, but over the next 10 years of my life its more like $20000.
After they do that, and they pay off the debt, the first government voted in that runs a deficit should be walked down georgia so we can all throw rocks at them.
oh ok but that's only BC government...what about federal? and municipal?
Different portions of all those weird taxes you pay for literally every single thing you do in this great country of ours go towards all three levels of government.
Pst = provincial sales tax - goes to the province
GST = goods and services tax - goes to federal (kinda, its actually split in a slightly weird manner)
Property taxes = a portion goes towards all three levels if I'm not mistaken.
If you look at all the governments around the world, something like 5% make a surplus each year.
If this is a surprise to you, please crawl back under your rock.
If you're hoping we will decrease our debt, please crawl back under your rock.
With all the crap that is being pushed through in BC, the only thing that might have hope in decreasing our debt is to legalize marijuana, and tax is living shit out of it. Because the only thing that could generate enough revenue to balance the budget, would be the government going into the "drug business."
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[15-05, 13:34] FastAnna Incredible. How easy it is.
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Originally Posted by murd0c
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Btw, I hope people are aware of the difference between met coal and coking coal. This thread is pathetic.
Ive been watching this great new video explaining how our system works... as described by the video, I have a feeling you have guilt denial.
Also these charts are something to go on, but they are clearly without any detail... like 40% of 45 billion into healthcare? Doctors and hospitals combined should mirror the U.S. system as the third killer of people after heart disease and cancer. Our life expectancy is the same... what great excuse to make citizens think our taxes are benefiting our own good.
What is this 4% GDP from mining and energy... of course when theres a 70% administration fee.
Show us you're not a one hitter quitter... care to explain what BS Im spewing?
Look at this, owning the Commonwealth from the City of London lets you manipulate markets from one country to the next. How convenient to minimize industry and jobs here, shift it to Australia and restart again here but with foreign workers as mentioned in the article. Its all about keeping the price up and profits high.
There are billions being made off the provinces resources... and nothing is nationalized for us to know exactly how much is extracted and sold at what price.
This video is key to ones survival (specially for sheeple) and the end times to come for the Americas.
what if a group of billionaires rich enough to pay off BC's debt completely... all collude and combine their wealth and pay off ALL of BC's debt...
what would the result be? would it be a good thing? or bad? what the fuck would happen? (assuming BC was the only one to do this, and the rest of the world kept going on like they do every other day).
The only short term positive thing would be not paying interest... mainly because there is no accountability on the spending so soon after you'd have billions that would exceed the again unaccounted tax money that comes in.
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
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