Tariffs are better than Minimum Wages: Justin Trudeau’s Liberals will cover 75 per cent of each employee’s wages, up to $58,700 because of COVID-19 – March 31, 2020,
Wages are very important to a societies economic stability, some people don’t see raising the minimum wage as a big deal, Labour Unions will argue that if you can’t afford to pay the wage they believe is ideal, then a persons business either shouldn’t be in business or should be forced to remain small or family-owned and most Conservatives believe that Tariffs are bad and regressive taxation is a superior option.
Well, Wages are a big deal and if you view the world the way I do, you’d see the irony of a Federal wage subsidy when for the most part inflated minimum wages are created by the provinces.
Now, before you read the article below, a reminder that if most employees were smart, they’d take company dividend-paying stock over wages, if they were smarter they’d be paid in commissions instead of wages because you can write off a lot more in taxes when you work as a private contractor, and your charged fewer taxes when you collect dividends
Furthermore, if you worked for commissions, I can guarantee you that you’d look at your Municipal, Provincial and Federal governments differently, why? Because instead of the government taking money out of your paycheck before you can spend it, you’d then have to pay back the government at the end of the year.
What an inconvenience you say,?I’d rather the government take the money as I work instead of paying the Governments back at the end of the year? Well, my dear reader that’s why Governments don’t want people to learn financial education, because if that’s how you think, that’s how you get fleeced out of wages by the government. There’s a price to pay for convenience and the largest price you pay is a sense of entitlement.
Consider reading the article below:
Economists are worried that the 75 per cent wage subsidy announced late last week (and with some new details on Monday by Prime Minister Justin Trudeau) could complicate an economic recovery.
Why would a 75 percent wage subsidy complicate an economic recovery? It’s because wages in Canada are inflated and the Canadian dollar is artificially devalued. The massive cost it takes for the Canadian Government to function all revolves around currency manipulation, now everybody in Western Canada, should know that they’re keeping this entire scam operational with their private energy sectors who pay a lot of taxes, but what a lot of Canadians, in general, don’t seem to comprehend is how inflated wages make it harder to stimulate the economy during an economic downturn.
Minimum wages and Government Regulations fuel the Welfare State
Kind of hard for people to understand this, but when there’s a minimum wage or when there’s an abnormal barrier to entry, it makes starting a business a lot harder. As an example in a country like Singapore, middle-class people have a maid, why? Because Singapore doesn’t have a minimum wage, which means there is no excuse for you not to find a job!
When there’s a minimum wage a person can legitimately say that they can’t find a job! When the government creates a carbon tax a manufacturing company can rightfully state that it can’t stay in business. When the government creates a regulation, especially a price and a wage control regulation it inadvertently makes the Welfare State larger. This should be common sense, but you see, most Canadians feel a sense of entitlement.
With that said, what Trudeau’s Liberals don’t seem to comprehend is that they’ll be financing Provinces minimum wages, which is going to lower productivity. Wages are already inflated and the government is going to throw money at the problem, making matters worse is that Canadian business are competing globally, so by incentivizing businesses with this stimulus, there’s a chance that Canadians will lose some of their purchasing power.
I keep having to write this, but, in times of crisis, the Canadian dollar isn’t viewed as a safe haven. I’m also against what Donald Trump is doing with his economic stimulus bill, however, America does things for the world Canada doesn’t do. The American military like them or not allow countries like Canada not to have to worry about defending its own border! There’s a lot of people and governments who are willing to finance the U.S economy even when its leader does dumb things.
In Canada, we enjoy privileges, but not on the same scale as America, which is why Canada, should consider looking at economic models employed by countries like Switzerland or Singapore. Because, I’m not trying to be all doom and gloom, but I wouldn’t put too much trust in Justin Trudeau and his cabinet when it comes to the Canadian economy.
By every metric I’ve seen, things like dire for the Canadian economy. I’m hopeful for the best, but Justin Trudeau and his cabinet have a novel way of doing things!
Feds to give more details, including cost, of emergency wage subsidy | cp24.com
Interesting times ahead!