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Malcolm

Crap from the Left

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3 minutes ago, seeker said:

Well - Zing! - got me.

Sorry.... it's a bad habit and I can see how it would easily be taken as being the way it was written. I will try and be more mindful of that in future, it's actually a poor form of writing style so it should be easy enough to wean myself off it. Cheers

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“ Is capitalism perfect?  Nope, but it sure beats the alternatives.

“”Capitalism has flaws, and it’s up to us as capitalists to make sure that the tide does indeed lift all boats. That’s our challenge, and that’s our responsibility. 
I love to point out about Home Depot that we have 3000 people in the company today who started with us at entry level - pushing carts in the parking lot and helping customers load up their cars - who are today multimillionaires.””

https://www.barrons.com/articles/an-interview-with-home-depot-co-founder-ken-langone-51549026000 “

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Fighting back against stupidity...I hope he gets awarded zillions !!

 

“ Lawyers representing Covington Catholic student Nick Sandmann have announced the preparation of letters to be sent to various celebrities, media outlets, and individual journalists who immediately and falsely slandered Sandmann and his classmates for “taunting” a Native American during a trip to Washington D.C.

The student’s lawyers are preparing letters for possible libel and defamation lawsuits, the Cincinnati Enquirer reported.

 

The list of recipients of the warning letters includes actress Alyssa Milano and Senator Elizabeth Warren. Targeted journalists include Maggie Haberman, David Brooks, and media outlets will include TMZ, CNN, and the New York Times. The attorneys have also identified the dioceses of Covington, Lexington, Louisville, and Baltimore as potential recipients of the letter.”

 

https://www.breitbart.com/crime/2019/02/03/lawyers-catholic-student-nick-sandmann-prepare-sue-media-celebrities-libel/

 

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Very true IMO. I now consider the left to be neither conservative or liberal as well.... just dangerous. They fail to make their own cut:

https://www.foxnews.com/entertainment/photo-of-joy-behar-dressed-as-beautiful-african-woman

https://www.foxnews.com/opinion/tucker-carlson-dems-cared-about-sexual-politics-a-few-months-ago-now-they-want-fairfaxs-accuser-to-shut-up

Edited by Wolfhunter

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The Democrats are self imploding!!

MISSION IMPOSSIBLE: 'Green New Deal’ Seeks to END AIR TRAVEL, Support Those ‘Unwilling to Work’

Rep. Alexandria Ocasio-Cortez and other progressive lawmakers left Americans scratching their heads Thursday; unveiling their Green New Deal proposal that seeks to end air travel and support those “unwilling to work.”

 

https://www.hannity.com/media-room/mission-impossible-green-new-deal-seeks-to-end-air-travel-support-those-unwilling-to-work/

 

 

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I just checked the CNN website to see if they were covering this storey, or the Virginia Democratic melt down story, or the Joy in black face story. I would have settled for anything to do with liberal hypocrisy but alas.... didn't see anything. Perhaps the lack of coverage stands as evidence in its own right.

PS oooops, it was at the bottom, I had to look twice. A bit of scolding for white privilege is clearly in order  and they have invented a new disease called "white racial illiteracy" to explain it all.

https://www.cnn.com/2019/02/07/opinions/virginia-implosion-northam-herring-blackface-white-illiteracy-woolfork/index.html

Edited by Wolfhunter

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Always lots of talk from some folks that the 1% ers are getting away with not paying their share of taxes, well folks according to the following report, they actually pay 17.9% of the total tax bill. As for the bottom 40%, well read on....  😀

Trudeau is right, 40% of Canadians pay no income taxes

But the top 20% appears to be picking up the rest of the bill, writes

  • Calgary Herald
  • 8 Feb 2019
  • Ted Rechtshaffen.
img?regionKey=qwAsQQ7NaFpSqVKIBb5%2f2A%3d%3dThe Fraser Institute’s Canadian Tax Simulator 2017 found that households with incomes ranging from zero to $80,843 paid only 4.6 per cent of all Canadian personal tax paid.

Many people were upset with Prime Minister Justin Trudeau this week for saying “low-income families don’t benefit from tax breaks because they don’t pay taxes.”

Of course, some were upset because they felt it was untrue. But Trudeau was speaking the complete truth when it comes to income taxes (HST, realty taxes and other consumption taxes are another story). It is just a truth that he may not want many Canadians to know.

On average, two of every five Canadian households do not pay anything towards federally and provincially funded expenses such as health care, education, community and social services, national defence, public safety and even the good old Canada Revenue Agency. One household of every five pays much more than 70 per cent of all of those costs.

It didn’t used to be this way, but it is now.

The Fraser Institute’s Canadian Tax Simulator 2017 looked at Canadian households with incomes ranging from zero to $80,843, representing the bottom 40 per cent of households by income, and found they paid 4.6 per cent of all the personal tax paid. That seems like a low number, but it still isn’t zero.

How does 4.6 per cent become zero? It happens when the tax that is paid is then given back (and more) by the federal and provincial governments.

As it turns out, quite a few benefits are paid out to Canadians with household income in the lower 40 per cent — particularly those with children. The CRA even has a wonderful online calculator that will quantify just how large those benefits might be.

To better illustrate this zeroper-cent tax bill, I ran three different scenarios through the calculator. All three scenarios were made up of a family with two working parents and three children (aged one, four and six) living in Northern Ontario, paying $15,000 a year in rent.

In the first scenario, each parent made $22,650 for a household income of $45,300. Based on the Ernst & Young personal tax calculator, the household should pay a total of $4,564 in federal and provincial income tax.

This income level lines up at the 20th percentile mark outlined by the Fraser Institute — or exactly in the middle of the bottom 40 per cent in terms of household income.

But this household actually receives $14,758 from government. Although the Ernst & Young calculator suggests it should pay $4,564 in tax, and the Fraser Institute says it pays a small amount of taxes, it actually gets tax-free benefits of $19,321.96.

These benefits consist of $17,485.80 from the Canada Child Benefit; $1,278.72 from Ontario Trillium Benefits (including Ontario Energy credit, Northern Ontario energy credit and Ontario sales tax credit); and a $557.44 GST/HST tax credit.

Of course, not every household looks like this or has three children, but the numbers for this household are quite staggering. It effectively does not pay any tax, and then receives $14,758 tax free from other Canadian taxpayers.

What if we move up the income range to what is roughly the 30th percentile, or $60,420 of household income, split equally?

This household should pay $7,596 in income taxes, according to the Ernst & Young tax calculator (assuming no deductions), and would receive $13,738.32 in tax-free benefits. In other words, it effectively receives $6,142 from other Canadian taxpayers.

A household at the very top of this group, the 40th percentile, or $80,844 of income, should pay $11,690 in income taxes (again, assuming no deductions), and would receive $10,282.44 in taxfree benefits. It effectively pays $1,408 in tax.

Keep in mind that people in this group are no different than anyone else and want to avoid paying taxes if possible. If there are any charitable donations, sizable health-care expenses, RRSP deductions, or any other kind of deduction, this household has probably been able to eliminate that $1,408 in taxes.

These examples are not meant to be a definitive study of taxpayers, but are merely being used to prove a point.

The Fraser Institute truly underestimates the numbers when it says that the top one per cent is paying 17.9 per cent of income taxes, and the top 20 per cent are paying 64.4 per cent.

Consider that if the bottom 40 per cent pays much less than zero per cent of income taxes, after adding the exceptionally large Canada Child Benefit and several other tax-free payouts, then someone else is picking up their tax bill. The top 20 per cent is likely paying 70 per cent or more of all income taxes.

Is this tax fairness? It is certainly fair to some.

In the United States, taxation has been moving in a completely different direction. But when we hear about the “evil” one per cent in the U.S., we must recognize that the Canadian one per cent is paying a huge amount of our tax bill.

Indeed, taxes are meaningfully rising for higher-income Canadians. In Alberta, the top tax bracket was 39 per cent in 2014. Today, it is 48 per cent, a 23 per cent increase. In Ontario, the top tax bracket was 46.4 per cent in 2013. Today, it is 53.5 per cent, an increase of 15 per cent.

The prime minister is absolutely right: tax cuts do not help 40 per cent of Canadians because they do not pay any effective income tax. How do you like them apples?

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Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this…

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20”. Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men ? How could they divide the $20 windfall so that everyone would get his fair share?

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving). The sixth now paid $2 instead of $3 (33% saving). The seventh now paid $5 instead of $7 (28% saving). The eighth now paid $9 instead of $12 (25% saving). The ninth now paid $14 instead of $18 (22% saving). The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he got ten times more benefit than me!” “That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

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