Five-per-cent cap on auto insurance rates implemented by the former NDP Government making it harder for Albertans to get Auto Insurance – October 1, 2019,
In my opinion, it’s always better to have more options, I’m a firm believer in that the best form of taxes, especially in a fiat-based monetary system are tariff taxes, make the business owners pay money for importing goods across the border that already exist here, the only times companies are excluded from tariffs is if items like “bananas” for example aren’t grown or don’t exist here. That’s how you protect jobs in my opinion, however, in Canada, we’ve taken the Labor Union approach to economics so not only do we have tariffs, we have minimum wages and a lower loonie, which works against us, because in Provinces like Alberta which has a population less than 5 million people options are fewer.
The key to filling our job vacancy problem isn’t mass migration it’s a stronger Loonie, it’s a lower cost of living it’s cutting the bloated size of government. A reminder, that in Canada we’re already one of the cleanest places on earth, it’s only on a per-capita basis where the world can point to us as Co2 contributors, but because of our small population we actually have a great opportunity to be global leaders in all manners of things, but socialism still reigns supreme.
Public Sector Greed and Car Insurance
When people get into car accidents, Private companies have to make those payouts, not the government, these insurance companies have to be solvent in order to make these payouts, which is why it’s never a good idea for the Government to over-regulate them. In British Colombia, auto insurance rates which are controlled by the Government via ICBC (a provincial crown corporation) and their rates now cos more than Ontario, why because Public servants are actually more greedier than private-sector employees. But you see when the public sector is greedy, it’s ignored, when politicians want to give media bailout packages to their friends using taxpayer dollars, it’s not viewed as greed and it’s this type of thinking that fuels socialist buffoonery in Canadian politics.
What Rachel Notley’s NDP government did when they implemented their 5 per cent annual cap, was they limited Albertans options to auto insurers. When a country or a province creates a minimum wage, what they’ve really done is artificially raised the barrier to entry. Imagine to get into an amateur hockey league, you’d need NHL credentials that’s basically what a minimum wage does and it’s the same thinking behind the 5 per cent annual cap.
“After annual rate increases were capped at five per cent in late 2017, we learned that some insurance companies were taking steps to limit their business as a way of minimizing their losses,” said Jerrica Goodwin, a spokesperson with the ministry. “As not all insurance companies are taking these steps, Albertans are encouraged to explore their options.”
Albertans with distracted driving tickets are finding it hard to get car insurance | CBC
There’s a myth by most Marxist and Socialists that for every government action there isn’t a market reaction. I’ll use another example, as a former blue-collar worker, we all know that you get punished VIA TAXES for working harder or doing over-time hours, so when given the option most blue-collar workers turn down overtime. The moment an employee’s income passes a higher tier of taxation, their productivity is punished, this is human behavior. Most people are motivated by winning a Gold, silver or bronze medal.
Corporations are people too
If you tell people that they’re going to be punished for winning a gold medal people will stop aiming to win the gold medal. This might be an inconvenient reality for Socialists but it’s been proven over and over and over again. If people will make the most money in the government or being on welfare, that’s what people will do and s we all know most politicians are idiots, take a look at the idiot politician Canadians made Prime Minister? do you really think people like this should be micromanaging the Canadian economy?
Public servants aren’t that smart which is why it’s wise to keep the size of the government small. Idleness is the devils playground, capitalism keeps people energized and focused on voluntarily serving the needs of others. This auto insurance problem in Alberta illustrates how inefficient big government programs are.
Albertans with distracted driving tickets are finding it hard to get car insurance | CBC
Interesting times ahead