Blog – Tax Fairness and Wealth Distribution – Canada and the World
Summary:
I am all for tax fairness to ensure loopholes are closed for the wealthy. The problem for the past many years if all levels government are not addressing programs that will better support those that need the support. Too much is being written and said about UBI as way to fix income gaps. The real issues come back to opportunities for people to move to better paying jobs. The focus all levels of government should be focusing on growing the economy in a sustainable way while protecting the environment.
Housing and its affordability must be address as part of wealth distribution. Housing costs has out priced many people.
Poverty continues to be an issue which will not be addressed by one off programs like UBI but through many policies.
1. Top 8 countries that have no income tax - https://bbcincorp.com/resources/countries-with-no-income-tax
2. Global wealth - https://ourworldindata.org/global-economic-inequality-introduction
3. GDP - https://www.economist.com/finance-and-economics/which-economies-have-done-best-and-worst-during-the-pandemic/21806917
4. Canada has fallen to 13th (2020) from 11th (2015) when it comes to most efficient governments in the world - https://www.theglobaleconomy.com/rankings/wb_government_effectiveness/
5. Canada runs a negative trade balance in 2020 as compared to Australia who runs a 4% trade balance of GDP - https://www.theglobaleconomy.com/rankings/Trade_balance/
6. Canada has been doing a very good job with supporting low income. However, over the past year and half that has change due to high cost of living - https://www.indexmundi.com/g/r.aspx?v=69
7. Housing - https://betterdwelling.com/canadian-real-estate-prices-dont-always-rise-everywhere-forever-bmo/
8. Rural vs urban - https://openknowledge.worldbank.org/handle/10986/14084
9. Universal income - https://forbeswealthblog.ca/2021/12/universal-basic-income-why-it-wont-work/?utm_source=rss&utm_medium=rss&utm_campaign=universal-basic-income-why-it-wont-work
10. Tax havens - https://www.pharmaceutical-technology.com/features/a-cloudy-day-in-paradise-for-pharma-tax-havens-in-cayman-islands-bermuda/
The document discusses whether the world needs a wealth tax. It provides background on wealth creation and taxes on the top 1% in Canada. It examines wealth taxes that have been implemented in other countries like France and finds they have largely failed and pushed the wealthy to move to other locations. The document argues that instead of a wealth tax, governments should focus on reforming tax codes, improving competitiveness, supporting economic growth, and transforming government to be more efficient. A wealth tax in places like California is also critiqued as the state already has high taxes and a large budget deficit.
This presentation looks at different areas of taxation. More work needs to be done in areas like reforming the tax act, tax treaties, shutting down tax havens, going after the underground economy, and other tax reforms
This document discusses whether the world needs a wealth tax. It begins by explaining how wealth is created through investing, owning property, starting businesses, inheritance, winning lotteries, innovation, and high-paying careers. It then analyzes wealth taxes that have been tried in European countries and argues they have largely failed because they are expensive to administer, distort economic behavior, and push wealthy individuals to move to other countries. The document concludes that instead of a wealth tax, governments should focus on reforming tax codes, transforming government to increase efficiency, supporting economic growth, and improving areas like education, infrastructure and the environment.
Income inequality has been around your decades. Very few governments have had success with squashing income inequality. One could argue Scandinavia countries have done a good job eradication of income inequality but when you take a deep look then you will see high cost of living and lack of desire to work.
Household Spending, Savings and Income (Income Inequality .pptxpaul young cpa, cga
Here is my latest look at household consumption, taxation, and income.
Justin Trudeau is continuing on his social spending plan. The problem is there was a structural deficit pre-covid19.
This document discusses trickle-down economics and tax policy in Canada. It provides background on trickle-down theory, how corporate taxation and personal wealth transfer works, and pressures facing the middle class. The presentation analyzes policies under Prime Minister Harper and Trudeau, and debates whether tax cuts are effective at stimulating economic growth. Blog posts further discuss wealth distribution in Canada, the impact of daycare funding and carbon policies on the economy, and arguments for and against tax cuts.
The document discusses whether the world needs a wealth tax. It provides background on wealth creation and taxes on the top 1% in Canada. It examines wealth taxes that have been implemented in other countries like France and finds they have largely failed and pushed the wealthy to move to other locations. The document argues that instead of a wealth tax, governments should focus on reforming tax codes, improving competitiveness, supporting economic growth, and transforming government to be more efficient. A wealth tax in places like California is also critiqued as the state already has high taxes and a large budget deficit.
This presentation looks at different areas of taxation. More work needs to be done in areas like reforming the tax act, tax treaties, shutting down tax havens, going after the underground economy, and other tax reforms
This document discusses whether the world needs a wealth tax. It begins by explaining how wealth is created through investing, owning property, starting businesses, inheritance, winning lotteries, innovation, and high-paying careers. It then analyzes wealth taxes that have been tried in European countries and argues they have largely failed because they are expensive to administer, distort economic behavior, and push wealthy individuals to move to other countries. The document concludes that instead of a wealth tax, governments should focus on reforming tax codes, transforming government to increase efficiency, supporting economic growth, and improving areas like education, infrastructure and the environment.
Income inequality has been around your decades. Very few governments have had success with squashing income inequality. One could argue Scandinavia countries have done a good job eradication of income inequality but when you take a deep look then you will see high cost of living and lack of desire to work.
Household Spending, Savings and Income (Income Inequality .pptxpaul young cpa, cga
Here is my latest look at household consumption, taxation, and income.
Justin Trudeau is continuing on his social spending plan. The problem is there was a structural deficit pre-covid19.
This document discusses trickle-down economics and tax policy in Canada. It provides background on trickle-down theory, how corporate taxation and personal wealth transfer works, and pressures facing the middle class. The presentation analyzes policies under Prime Minister Harper and Trudeau, and debates whether tax cuts are effective at stimulating economic growth. Blog posts further discuss wealth distribution in Canada, the impact of daycare funding and carbon policies on the economy, and arguments for and against tax cuts.
This document provides a summary of Paul Young's views on income inequality and potential solutions. It notes that income inequality is an issue around the world and Canada has a relatively average level of inequality compared to other OECD countries. Paul argues that consumption taxes disproportionately hurt low to middle income earners. He believes the best solutions are job creation, improving education, reducing tax havens, reforming trade practices, and stopping one-off policy proposals rather than comprehensive reforms.
The document provides an analysis of Canada's GDP and economic outlook in July 2020. It discusses:
- Canada's large COVID-19 deficits and debt levels which are unprecedented.
- GDP growth projections showing a potential V-shaped recovery for the global and Canadian economies, but risks remain.
- GDP breakdown by sector in Canada, showing recovery in some industries but not others.
- Recommendations for economic reforms like supporting job growth, improving education and skills training, and reforming government.
The document discusses Canada's slowing economic growth and identifies several contributing factors, including global economic difficulties, geopolitical events, and automation. It analyzes GDP forecasts, growth rates, and deficits across various economies. Specific attention is given to analyzing GDP and employment data in Canada, and factors impacting key industries like housing, exports, and retail. A variety of policy approaches are discussed to potentially address challenges and support stronger growth, such as reforms to education, immigration, infrastructure investment, and trade agreements.
The COVID19 crisis has led to many issues including a rise with both income inequality and poverty. Countries around the world need to work fixed their enconomic and fiscal policies.
Has Justin Trudeau made things more Affordable for Canadianspaul young cpa, cga
Paul Young, a CPA and expert in various fields, analyzes whether policies under the Liberal Party of Canada have made Canada more affordable. The document outlines Young's agenda which includes analyzing key metrics like the consumer price index, housing prices, carbon taxation, broadband costs, food prices, transit costs, taxation rates, household spending, poverty, and the principal residency tax. Young concludes that the Liberals are not making things more affordable for Canadians and that policies like the carbon tax have increased costs for many households and small businesses.
This document provides a summary of ways to potentially address income inequality by Paul Young CPA CGA. It discusses that income inequality is an issue around the world and in Canada. It suggests that consumption taxes disproportionately impact low to middle income earners. Potential solutions proposed include reforming government compensation, promoting economic growth, redistributing wealth, and funding healthcare, education and social programs. Ensuring a strong middle class through job creation is also recommended.
There are more to fixing income inequality than making changes to social programs. There needs to be emphasis on all angles of policies from training/skills development to Economic Development to Tax fairness to cutting regulatory burden/businesses.
This document provides an analysis of whether the Liberal Party of Canada has made Canada more affordable. It includes data and statistics on various cost of living indicators such as housing prices, consumer price index, household debt, carbon taxation, food prices, telecommunications costs, taxes, GDP, and prices of goods like fuel, hydro, lumber and agricultural commodities. Overall, the document argues that the Liberals have not achieved their goal of making life more affordable, as many costs of key living expenses have increased under their watch, placing a higher burden on Canadians.
How can Bank of Canada achieve its 2% Inflation target for Canadapaul young cpa, cga
The document discusses various issues facing the Canadian economy, including high inflation, housing unaffordability, lack of productivity and innovation. It argues that Justin Trudeau's policies have not adequately addressed long-standing structural problems and that all levels of government need reforms to taxation, spending, innovation programs, and housing policy to boost the economy. The Bank of Canada is keeping interest rates low due to high inflation and uncertainty around achieving full employment. Foreign investment is inflating home prices while productivity and competitiveness have lagged.
Affordability| Have the Liberals improve the lives of Canadianspaul young cpa, cga
This document provides a summary and analysis of whether policies under the Liberal Party of Canada have made Canada more affordable. It begins with an agenda outlining topics like consumer prices, housing, household debt, carbon taxation, food prices, taxation, and average wages. For each topic, it discusses relevant data and sources to analyze trends under the Liberal government. The overall conclusion is that the Liberals are not making things more affordable for Canadians and various policies have increased costs for middle and lower-income Canadians.
Governments around the world are struggling with budget deficits including the need to reform their various tax acts. There is a lot of talk by progressives that there needs to be a wealth tax.
Economies go through changes over fiscal and business cycle. The role of government is to create policies that support economic growth along with fiscal management cycle that delivers program with consideration of both tax fairness and value for moneys
Transforming the Public Sector| The United States| January 2022paul young cpa, cga
Summary
The world continues to head to big government.
More needs to be done to safeguard assets by the public sector.
Audited emergency and crisis management reports should be part of the fiscal management cycle
More money for auditor-generals as part of expanding performance and value for money audits across agencies and GBEs
Compensation and benefit reforms as part of reducing the cost of government
More adoption of the digital model as part of streamlining the government programs as part of better delivery of program spending through value fore money!
1. State and local government - https://www.govtech.com/security/general-hacking-community-tops-state-local-it-security-fears
2. Fiscal outlook - https://www.governing.com/finance/the-outlook-for-public-finance-in-2022-in-6-themes
3. Internal control - https://deloitte.wsj.com/articles/5-trends-influencing-internal-control-strategy-01641332680
4. Geopolitical risks – https://thehill.com/policy/equilibrium-sustainability/589435-climate-crisis-is-greatest-global-risk-in-2022-world
5. Climate mitigation - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
6. Value for money - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
7. Big government - https://www.economist.com/europe/2022/01/08/the-return-of-big-government-sparks-questions-for-europe
8. Privacy - https://openmedia.org/press/item/the-state-of-privacy
9. ESG - https://www.icaew.com/insights/viewpoints-on-the-news/2022/jan-2022/summary-of-public-sector-sustainability-reporting-landscape
10. Urban Planning - https://tomorrow.city/a/over-planning-and-the-risk-of-creating-less-inclusive-cities
Transforming the Public Sector| The United States| February 2022paul young cpa, cga
Summary:
What’s next: Manchin’s priorities are getting plenty of consideration as Democrats look to salvage their economic agenda, but as we said yesterday, changing the plan to suit Manchin is sure to raise some other Democrats’ hackles. “There could be significant difficulties in selling the package to progressive in the House,” Bloomberg’s Jennifer Epstein, Erik Wasson and Laura Davison report, citing a senior House Democrat. “Spending $800 billion would be a 75% cut from last year’s goal of a $3.5 trillion package. Trimming it down to primarily the climate change initiative would leave just one or two other programs, leaving many member priorities on the cutting room floor, the Democrat said.”
The bottom line: We started the week by telling you about a debate around Modern Monetary Theory, a school of economic thought that sanctions aggressive deficit spending and says resource constraints rather than fiscal constraints should underpin spending decisions. Did that line of thinking win in the pandemic response, or has it failed? We’re ending the week with an indication of just how much the political and policy winds around deficits have shifted in the last year or two.
Source - https://finance.yahoo.com/news/biden-plan-b-build-back-235849730.html
1. Fiscal gap – USA – https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
2. Property Tax - https://www.thebalance.com/best-and-worst-states-for-property-taxes-3193328
3. USA debt hits 30T - https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
4. State and Local Government - https://icma.org/blog-posts/4-factors-influencing-local-government-financial-decisions
5. Stimulus - https://www.northerntrust.com/europe/insights-research/2022/weekly-economic-commentary/crisis-that-wasnt
6. Healthcare - https://www.thedailybeast.com/doctor-shortages-in-the-us-after-covid-are-creating-a-looming-healthcare-crisis
7. Economy - https://www.dailykos.com/stories/2022/2/5/2078776/-Biden-takes-credit-for-blockbuster-jobs-report-as-GOP-caught-off-guard-from-his-economic-success
8. Keynesian - https://fee.org/articles/the-return-of-keynesianism/
9. Spending - https://www.gao.gov/blog/usaspending.gov-offers-insight-government-spending-data-quality-and-user-awareness-impact-its-usefulness
10. Pandemic responses - https://www.gao.gov/press-center/2022
11. Inflation and Drug Prices - https://www.reuters.com/world/us/biden-touts-plan-bring-down-drug-prices-helping-tame-inflation-2022-02-10/
12. Infrastructure bill - https://www.brookings.edu/blog/fixgov/2022/02/11/fighting-fraud-waste-and-abuse-the-infrastructure-bill-and-lessons-for-the-future/
2019 Election| Poverty and Income Inequality| August 2019paul young cpa, cga
This document provides a summary of Paul Young's views on income inequality and potential policy solutions. It discusses that income inequality is an issue globally and in Canada. Paul argues that consumption taxes disproportionately hurt low to middle income earners. Some of the policies Paul recommends to reduce inequality include reforming government compensation, promoting economic growth, strengthening the middle class through job creation, and ensuring funding for healthcare, education and social programs.
The document discusses taxation of the wealthiest Canadians and income analysis. It provides information on:
- The top 1% of income earners in Canada pay over 50% of income taxes and have incomes over $222,000.
- The top 1% earn their wealth through investments in stocks, bonds, and real estate and use accountants and lawyers to manage their taxes.
- Bad policies around carbon taxation, hydro rates, and CPP hikes could negatively impact both businesses and households.
- Money flows from companies to shareholders, capital investments, and pensions funds.
The document examines taxation of the wealthy and potential impacts of policies on economic growth and different income classes.
This document provides information from a presentation by Paul Young, CPA discussing taxation in Canada. It includes:
- Definitions of the top 1%, 5%, and 10% income earners in Canada based on income thresholds.
- Statistics showing the top 1% of income earners pay 20% of federal income taxes and are concentrated in Ontario and Alberta.
- An agenda with topics like redistribution of wealth, tax brackets, blogs about wealthiest Canadians and the middle class, and income splitting.
- Links to external sources and the presenter's credentials and disclaimer.
This document provides an overview of the cost of living in Canada in October 2020. It discusses several metrics including the consumer price index, housing prices, household debt, taxation rates, food and fuel prices, broadband costs, and poverty levels. Overall, the document argues that while the Liberal government campaigned on making life more affordable, many of their policies such as the carbon tax have actually increased costs of living for most Canadians by impacting things like transportation and home heating costs.
Justin Trudeau and Liberals| Have Liberal Policies made things more Affordabl...paul young cpa, cga
This presentation looks at key areas of household budgets. Trudeau ran on a campaign back in 2015 that he would make things more affordable for Canadians.
Retail Sales and Consumer Spending Analysis and Commentary - July 2023.pptxpaul young cpa, cga
Canadian retail sales dropped 0.3% in August, the first decline since March, as higher interest rates start to impact household budgets. Seven of the nine retail subsectors saw sales increases in July, led by food and beverage retailers, while motor vehicle and parts dealers saw the largest decrease. Excluding autos, retail sales in July rose 1%, double expectations. The report suggests Canadians are tightening spending as more face higher mortgage payments and gas prices due to Bank of Canada rate hikes aimed at slowing inflation.
Addressing issues with the Public Sector Governance Model.pptxpaul young cpa, cga
The key challenges facing Australian business leaders in 2023 include:
1. Talent acquisition, retention and training staff for digital transformation.
2. Implementing successful digital transformation while managing cyber risks.
3. Adapting to changing regulations and reporting requirements.
Health risks from COVID-19, social reputation concerns, and disruptive emerging technologies are also significant social challenges impacting Australian businesses. Over the next 3-5 years, talent management for digitization, cybersecurity, digital transformation, regulatory changes, and identifying new growth opportunities will be the top challenges according to business leaders.
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Similar to Wealth Distribution and Income Tax Fairness
This document provides a summary of Paul Young's views on income inequality and potential solutions. It notes that income inequality is an issue around the world and Canada has a relatively average level of inequality compared to other OECD countries. Paul argues that consumption taxes disproportionately hurt low to middle income earners. He believes the best solutions are job creation, improving education, reducing tax havens, reforming trade practices, and stopping one-off policy proposals rather than comprehensive reforms.
The document provides an analysis of Canada's GDP and economic outlook in July 2020. It discusses:
- Canada's large COVID-19 deficits and debt levels which are unprecedented.
- GDP growth projections showing a potential V-shaped recovery for the global and Canadian economies, but risks remain.
- GDP breakdown by sector in Canada, showing recovery in some industries but not others.
- Recommendations for economic reforms like supporting job growth, improving education and skills training, and reforming government.
The document discusses Canada's slowing economic growth and identifies several contributing factors, including global economic difficulties, geopolitical events, and automation. It analyzes GDP forecasts, growth rates, and deficits across various economies. Specific attention is given to analyzing GDP and employment data in Canada, and factors impacting key industries like housing, exports, and retail. A variety of policy approaches are discussed to potentially address challenges and support stronger growth, such as reforms to education, immigration, infrastructure investment, and trade agreements.
The COVID19 crisis has led to many issues including a rise with both income inequality and poverty. Countries around the world need to work fixed their enconomic and fiscal policies.
Has Justin Trudeau made things more Affordable for Canadianspaul young cpa, cga
Paul Young, a CPA and expert in various fields, analyzes whether policies under the Liberal Party of Canada have made Canada more affordable. The document outlines Young's agenda which includes analyzing key metrics like the consumer price index, housing prices, carbon taxation, broadband costs, food prices, transit costs, taxation rates, household spending, poverty, and the principal residency tax. Young concludes that the Liberals are not making things more affordable for Canadians and that policies like the carbon tax have increased costs for many households and small businesses.
This document provides a summary of ways to potentially address income inequality by Paul Young CPA CGA. It discusses that income inequality is an issue around the world and in Canada. It suggests that consumption taxes disproportionately impact low to middle income earners. Potential solutions proposed include reforming government compensation, promoting economic growth, redistributing wealth, and funding healthcare, education and social programs. Ensuring a strong middle class through job creation is also recommended.
There are more to fixing income inequality than making changes to social programs. There needs to be emphasis on all angles of policies from training/skills development to Economic Development to Tax fairness to cutting regulatory burden/businesses.
This document provides an analysis of whether the Liberal Party of Canada has made Canada more affordable. It includes data and statistics on various cost of living indicators such as housing prices, consumer price index, household debt, carbon taxation, food prices, telecommunications costs, taxes, GDP, and prices of goods like fuel, hydro, lumber and agricultural commodities. Overall, the document argues that the Liberals have not achieved their goal of making life more affordable, as many costs of key living expenses have increased under their watch, placing a higher burden on Canadians.
How can Bank of Canada achieve its 2% Inflation target for Canadapaul young cpa, cga
The document discusses various issues facing the Canadian economy, including high inflation, housing unaffordability, lack of productivity and innovation. It argues that Justin Trudeau's policies have not adequately addressed long-standing structural problems and that all levels of government need reforms to taxation, spending, innovation programs, and housing policy to boost the economy. The Bank of Canada is keeping interest rates low due to high inflation and uncertainty around achieving full employment. Foreign investment is inflating home prices while productivity and competitiveness have lagged.
Affordability| Have the Liberals improve the lives of Canadianspaul young cpa, cga
This document provides a summary and analysis of whether policies under the Liberal Party of Canada have made Canada more affordable. It begins with an agenda outlining topics like consumer prices, housing, household debt, carbon taxation, food prices, taxation, and average wages. For each topic, it discusses relevant data and sources to analyze trends under the Liberal government. The overall conclusion is that the Liberals are not making things more affordable for Canadians and various policies have increased costs for middle and lower-income Canadians.
Governments around the world are struggling with budget deficits including the need to reform their various tax acts. There is a lot of talk by progressives that there needs to be a wealth tax.
Economies go through changes over fiscal and business cycle. The role of government is to create policies that support economic growth along with fiscal management cycle that delivers program with consideration of both tax fairness and value for moneys
Transforming the Public Sector| The United States| January 2022paul young cpa, cga
Summary
The world continues to head to big government.
More needs to be done to safeguard assets by the public sector.
Audited emergency and crisis management reports should be part of the fiscal management cycle
More money for auditor-generals as part of expanding performance and value for money audits across agencies and GBEs
Compensation and benefit reforms as part of reducing the cost of government
More adoption of the digital model as part of streamlining the government programs as part of better delivery of program spending through value fore money!
1. State and local government - https://www.govtech.com/security/general-hacking-community-tops-state-local-it-security-fears
2. Fiscal outlook - https://www.governing.com/finance/the-outlook-for-public-finance-in-2022-in-6-themes
3. Internal control - https://deloitte.wsj.com/articles/5-trends-influencing-internal-control-strategy-01641332680
4. Geopolitical risks – https://thehill.com/policy/equilibrium-sustainability/589435-climate-crisis-is-greatest-global-risk-in-2022-world
5. Climate mitigation - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
6. Value for money - https://www.hilltimes.com/2022/01/10/dont-look-up-and-how-canada-needs-to-get-to-effective-climate-mitigation/337151
7. Big government - https://www.economist.com/europe/2022/01/08/the-return-of-big-government-sparks-questions-for-europe
8. Privacy - https://openmedia.org/press/item/the-state-of-privacy
9. ESG - https://www.icaew.com/insights/viewpoints-on-the-news/2022/jan-2022/summary-of-public-sector-sustainability-reporting-landscape
10. Urban Planning - https://tomorrow.city/a/over-planning-and-the-risk-of-creating-less-inclusive-cities
Transforming the Public Sector| The United States| February 2022paul young cpa, cga
Summary:
What’s next: Manchin’s priorities are getting plenty of consideration as Democrats look to salvage their economic agenda, but as we said yesterday, changing the plan to suit Manchin is sure to raise some other Democrats’ hackles. “There could be significant difficulties in selling the package to progressive in the House,” Bloomberg’s Jennifer Epstein, Erik Wasson and Laura Davison report, citing a senior House Democrat. “Spending $800 billion would be a 75% cut from last year’s goal of a $3.5 trillion package. Trimming it down to primarily the climate change initiative would leave just one or two other programs, leaving many member priorities on the cutting room floor, the Democrat said.”
The bottom line: We started the week by telling you about a debate around Modern Monetary Theory, a school of economic thought that sanctions aggressive deficit spending and says resource constraints rather than fiscal constraints should underpin spending decisions. Did that line of thinking win in the pandemic response, or has it failed? We’re ending the week with an indication of just how much the political and policy winds around deficits have shifted in the last year or two.
Source - https://finance.yahoo.com/news/biden-plan-b-build-back-235849730.html
1. Fiscal gap – USA – https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
2. Property Tax - https://www.thebalance.com/best-and-worst-states-for-property-taxes-3193328
3. USA debt hits 30T - https://www.mining.com/web/as-us-national-debt-hits-30-trillion-higher-borrowing-costs-negative-real-yields-will-make-it-harder-to-finance/
4. State and Local Government - https://icma.org/blog-posts/4-factors-influencing-local-government-financial-decisions
5. Stimulus - https://www.northerntrust.com/europe/insights-research/2022/weekly-economic-commentary/crisis-that-wasnt
6. Healthcare - https://www.thedailybeast.com/doctor-shortages-in-the-us-after-covid-are-creating-a-looming-healthcare-crisis
7. Economy - https://www.dailykos.com/stories/2022/2/5/2078776/-Biden-takes-credit-for-blockbuster-jobs-report-as-GOP-caught-off-guard-from-his-economic-success
8. Keynesian - https://fee.org/articles/the-return-of-keynesianism/
9. Spending - https://www.gao.gov/blog/usaspending.gov-offers-insight-government-spending-data-quality-and-user-awareness-impact-its-usefulness
10. Pandemic responses - https://www.gao.gov/press-center/2022
11. Inflation and Drug Prices - https://www.reuters.com/world/us/biden-touts-plan-bring-down-drug-prices-helping-tame-inflation-2022-02-10/
12. Infrastructure bill - https://www.brookings.edu/blog/fixgov/2022/02/11/fighting-fraud-waste-and-abuse-the-infrastructure-bill-and-lessons-for-the-future/
2019 Election| Poverty and Income Inequality| August 2019paul young cpa, cga
This document provides a summary of Paul Young's views on income inequality and potential policy solutions. It discusses that income inequality is an issue globally and in Canada. Paul argues that consumption taxes disproportionately hurt low to middle income earners. Some of the policies Paul recommends to reduce inequality include reforming government compensation, promoting economic growth, strengthening the middle class through job creation, and ensuring funding for healthcare, education and social programs.
The document discusses taxation of the wealthiest Canadians and income analysis. It provides information on:
- The top 1% of income earners in Canada pay over 50% of income taxes and have incomes over $222,000.
- The top 1% earn their wealth through investments in stocks, bonds, and real estate and use accountants and lawyers to manage their taxes.
- Bad policies around carbon taxation, hydro rates, and CPP hikes could negatively impact both businesses and households.
- Money flows from companies to shareholders, capital investments, and pensions funds.
The document examines taxation of the wealthy and potential impacts of policies on economic growth and different income classes.
This document provides information from a presentation by Paul Young, CPA discussing taxation in Canada. It includes:
- Definitions of the top 1%, 5%, and 10% income earners in Canada based on income thresholds.
- Statistics showing the top 1% of income earners pay 20% of federal income taxes and are concentrated in Ontario and Alberta.
- An agenda with topics like redistribution of wealth, tax brackets, blogs about wealthiest Canadians and the middle class, and income splitting.
- Links to external sources and the presenter's credentials and disclaimer.
This document provides an overview of the cost of living in Canada in October 2020. It discusses several metrics including the consumer price index, housing prices, household debt, taxation rates, food and fuel prices, broadband costs, and poverty levels. Overall, the document argues that while the Liberal government campaigned on making life more affordable, many of their policies such as the carbon tax have actually increased costs of living for most Canadians by impacting things like transportation and home heating costs.
Justin Trudeau and Liberals| Have Liberal Policies made things more Affordabl...paul young cpa, cga
This presentation looks at key areas of household budgets. Trudeau ran on a campaign back in 2015 that he would make things more affordable for Canadians.
Similar to Wealth Distribution and Income Tax Fairness (20)
Retail Sales and Consumer Spending Analysis and Commentary - July 2023.pptxpaul young cpa, cga
Canadian retail sales dropped 0.3% in August, the first decline since March, as higher interest rates start to impact household budgets. Seven of the nine retail subsectors saw sales increases in July, led by food and beverage retailers, while motor vehicle and parts dealers saw the largest decrease. Excluding autos, retail sales in July rose 1%, double expectations. The report suggests Canadians are tightening spending as more face higher mortgage payments and gas prices due to Bank of Canada rate hikes aimed at slowing inflation.
Addressing issues with the Public Sector Governance Model.pptxpaul young cpa, cga
The key challenges facing Australian business leaders in 2023 include:
1. Talent acquisition, retention and training staff for digital transformation.
2. Implementing successful digital transformation while managing cyber risks.
3. Adapting to changing regulations and reporting requirements.
Health risks from COVID-19, social reputation concerns, and disruptive emerging technologies are also significant social challenges impacting Australian businesses. Over the next 3-5 years, talent management for digitization, cybersecurity, digital transformation, regulatory changes, and identifying new growth opportunities will be the top challenges according to business leaders.
Global Housing Market Analysis and Commentary- September 2023.pptxpaul young cpa, cga
Summary:
Homebuilders are walking a fine line when it comes to new projects as high mortgage rates curb demand.
New residential construction, including single-family homes and multifamily, dropped 11.3% month over month in August to 1.283 million units on a seasonally adjusted basis, according to Census Bureau data released Tuesday. That's down 14.8% compared with a year ago and well below the 1.44 million units economists surveyed by Bloomberg projected.
But authorized residential permits — an indicator of potential future activity — rose 6.9% to 1.543 million permits in August from July. That was still down 2.7% from last August. Single-family permits, though, were up 2% from July to 949,000. Multifamily permits came in at 535,000.
The data reflects two opposing forces builders are trying to balance: the ongoing need for new construction to fill in limited inventory and elevated mortgage rates that are hurting their biggest customer right now, the first-time homebuyer.
"High mortgage rates are clearly taking a toll on builder confidence and consumer demand, as a growing number of buyers are electing to defer a home purchase until long-term rates move lower," Robert Dietz, chief economist of the National Association of Home Builders, said Monday in a press release after builder confidence dropped for the second straight month.
Source: https://ca.finance.yahoo.com/news/homebuilders-face-a-tough-balancing-act-on-new-construction-amid-high-mortgage-rates-130744368.html
Blog – What is next for the Mining Sector – September 2023
The mining sector provides critical material that support solar, wind, and lithium-ion batteries as part of the green transition. https://www.iea.org/news/critical-minerals-market-sees-unprecedented-growth-as-clean-energy-demand-drives-strong-increase-in-investment
The mining sector products play a key role with the global GDP - https://www.yicaiglobal.com/news/global-mining-industry-value-was-69-of-world-gdp-last-year-china-says
Mining practices need to be sustainable including following all ESG policies - https://www.linkedin.com/advice/1/how-can-you-monitor-sustainable-mining-practices
Other links and sources –
Lithium Supply and Price - https://zbr.com.mx/en/sin-categoria-es/lithium-prices-fall-44-in-china-due-to-lack-of-demand/138168/
Cobalt - https://www.linkedin.com/posts/mahmut-karada%C5%9F-a2b7a5151_china-exportrestrictions-gallium-activity-7082603182589157376-Zrty/?trk=public_profile_like_view
Nickel https://www.eureporter.co/business/2023/09/15/stanislav-kondrashov-from-telf-ag-nickel-prices-outlook-remains-positive/
Iron-ore - https://www.brecorder.com/news/40263584/sgx-iron-ore-set-for-best-week-in-3-months
TD Bank / Metals - https://www.tdsecurities.com/ca/en/setting-the-stage-for-gold-outlook
Biodiversity / Mining - https://worldcrunch.com/green/lithium-green-energy-argentina-indigenous
ESG - https://iriscarbon.com/the-added-value-of-integrated-esg-reporting-a-threefold-framework/
Blog – Manufacturing Shipments and Orders – The United States – August 2023
Summary:
New orders for manufacturing technology in the United States totaled $353.9 million in July 2023, as per the latest report by AMT – The Association For Manufacturing Technology. This figure marked a 12.4% decline from June 2023 but remained only 10.5% lower than July 2022. Year-to-date orders amounted to $2.83 billion, reflecting a 12.7% decrease compared to the same period the previous year.
Douglas K. Woods, President of AMT, noted that July is typically a slower month for manufacturing technology orders, so a slight drop was expected. However, he pointed out a notable trend: over the last two months, the year-to-date order gap has narrowed during historically slow periods. While job shops have seen decreased orders, other industries that benefited from reshoring or government investments have helped fill the gap.
Among specific sectors, job shops, the largest customer segment, placed their lowest total monthly orders since August 2020. In contrast, metal valve manufacturers recorded their third-highest monthly order value on record, last seen in September 2018, making up nearly 5% of the total manufacturing technology order value for July 2023. Manufacturers of motor vehicle transmissions continued to order machinery at an elevated pace. However, the aerospace industry continued to order below its early 2022 peaks, with hopes that recent projects like the federal government's $1.5 billion investment in communications satellites might reverse this trend.
Source: https://www.sme.org/technologies/articles/2023/september/u.s.-manufacturing-technology-orders-dip-in-july-but-show-resilience-amid-economic-uncertainty
Stock Market Analysis and Commentary for WE September 15 2023.pptxpaul young cpa, cga
Blog – Analysis and Commentary – Stock Market – WE September 15 2023
Summary:
Stocks fell Friday as investors wrap up a volatile week ahead of the Federal Reserve's policy meeting.
The Dow Jones Industrials tumbled 288.87 points to close out Friday and the week at 34,618.24. At its lows, it completely wiped out Thursday's 332-point rally.
The S&P 500 index sank 54.78 points, or 1.2%, to 4,450.32.
The NASDAQ index plunged 217.72 points, or 1.6%, to 13,708.33.
The Dow held onto a winning week. The S&P 500 and NASDAQ both closed out the week with losses.
Information technology was the worst-performing sector in the S&P 500, down nearly 2%. Adobe shares fell more than 4% even after the software firm posted better-than-expected quarterly results. Shares of Arm Holdings were lower one day after its successful public debut.
Auto stocks General Motors and Stellantis N.V. were higher Friday, while Ford Motor was about flat. Thousands of members of the United Auto Workers went on strike after failing to reach a deal with the automakers Thursday night.
Elsewhere, Lennar shares slid 3%. The home construction firm posted third-quarter results that beat on the top and bottom lines.
On the economic front, the University of Michigan's consumer sentiment survey showed one-year inflation expectations dropped to 3.1% in
September, tied for the lowest since January 2021. Also, the five-year outlook fell to 2.7%, matching its lowest since December 2020.
- Canadian manufacturing sales increased 1.6% in July, led by higher sales in food products, petroleum and coal products, and transportation equipment. Paper and plastics sales decreased the most.
- Inventory levels increased slightly while unfilled orders decreased, pointing to a potential slowdown.
- The manufacturing sector in Canada will continue to face challenges such as global economic uncertainty, rising costs, supply chain issues, climate change risks, and skills shortages.
Electricity Analysis - Canada and the OECD - June 2023.pptxpaul young cpa, cga
Summary:
Over three-quarters of the world’s total coal-generated electricity is consumed in just three countries. China is the top user of coal, making up 53.3% of global coal demand, followed by India at 13.6%, and the U.S. at 8.9%.
Burning coal—for electricity, as well as metallurgy and cement production—is the world’s single largest source of CO2 emissions. Nevertheless, its use in electricity generation has actually grown 91.2% since 1997, the year when the first global climate agreement was signed in Kyoto, Japan.
However, even as non-renewables enjoy their time in the sun, their days could be numbered.
In 2022, renewables, such as wind, solar, and geothermal, represented 14.4% of total electricity generation with an extraordinary annual growth rate of 14.7%, driven by big gains in solar and wind. Non-renewables, by contrast, only managed an anemic 0.4%.
The authors of the Statistical Review do not include hydroelectric in their renewable calculations, even though many others, including the International Energy Agency, consider it a “well-established renewable power technology.”
With hydroelectric moved into the renewable column, together they accounted for over 29.3% of all electricity generated in 2022, with an annual growth rate of 7.4%.
Source - https://energynow.ca/2023/09/infographic-what-electricity-sources-power-the-world-see-them-here-visual-capitalist/
Logistics Warehousing Transportation and Distrbution Analysis and Commentary ...paul young cpa, cga
The document provides an overview of key metrics and trends in the logistics, warehousing, distribution, and transportation sector. It includes data on consumer price index, diesel fuel costs, freight indexes, e-commerce sales, retail sales, class 8 truck sales, EPA emissions standards, trailer sales, and tonnage. It also discusses supply chain management solutions like planning analytics, blockchain, and AI assistants. Finally, it touches on topics like infrastructure spending, automation, and ESG reporting.
Retail Sales and Consumer Spending Analysis and Commentary - United States - ...paul young cpa, cga
United States retail sales rose 0.6% in August despite flat sales at internet retailers after Amazon Prime Day. Most of the increase was due to higher gasoline prices. While consumer spending has been strong, higher interest rates and a slowdown in hiring are expected to restrain purchases in the coming months. Forecasters predict the 2023 holiday shopping season could be the weakest in five years due to economic challenges facing consumers. The retail sector continues facing inventory management challenges and social governance issues.
How to improve the Governance Model for the Public Sector - United States - S...paul young cpa, cga
This document provides a summary of strategies to improve governance in government. It discusses factors that impact governance like transparency and accountability. It recommends using performance audits to assess key performance indicators and ensure recommendations are implemented. Other strategies include improving data ethics and literacy, mitigating geopolitical risks, adopting ESG reporting, and using technology like audit analytics and AI to enhance governance. The overall goal is for government to deliver programs and tax policies with value for money and transparency.
This document provides an analysis of the agriculture output and equipment sector for August 2023. It includes discussions of commodity prices, crop estimates, energy prices, food prices, farming incomes, top farming states, food processors, and the role of technology and government in farming. Key points covered include rising input costs challenging farmers, preliminary crop estimates for Canada, volatility in oil and diesel prices impacting farm expenses, and opportunities for data and automation to help address issues in the agriculture industry.
Biotech Pharmaceutical Medical Equipment and Supplies - Analysis - September ...paul young cpa, cga
This document provides an overview and agenda for a presentation on the biotech, pharmaceutical, and healthcare sector. It includes:
- An introduction and biography of presenter Paul Young CPA CGA
- An agenda covering topics like vaccine production, drug discovery, innovation in areas like storage and AI, and the life sciences strategy
- Links and summaries of information on these topics, including the top vaccine manufacturers, regulations in Canada, and growth in the pharmaceutical market
The presentation aims to discuss key areas of the biotech/pharmaceutical sector including vaccine development and production, drug discovery, innovation, and strategies for the life sciences industry. Links and outside sources are provided to support the topics in the agenda.
Better Public Safety Management using Analytics - September 2023.pptxpaul young cpa, cga
This document discusses using analytics to improve public safety management. It outlines rising public safety costs for governments and key issues facing policing like complex crimes and accountability. The document presents crime rate data for Canada and discusses building machine learning models in SPSS and dashboards in Cognos Analytics to analyze police data and forecast expenses. Finally, it lists potential next steps for crime in Canada like bail and corrections reforms, gun control, and increased police oversight.
Stock Market Analysis and Commentary for WE September 9 2023.pptxpaul young cpa, cga
What did the markets tell us this week?
1. Housing supply and costs continue to plague countries around the world.
2. Gasoline prices are on the rise that puts pressure on central banks ability to hit their core inflation targets.
3. ESG adoption by both the private and public sector is leading to both funding concerns and the overall cost of implementing ESG policies.
4. Adopting technology as part of increasing food production is facing both capital and operational funding concerns.
5. Strike at LNG facility in Australia is leading to concerns around a supply chain disruption of natural gas for EMEA and Asia.
6. The threat of China dumping batteries into markets - https://www.ft.com/content/b6038e51-7b5b-4f97-a5da-9202e71562fc
7. Adoption of generative AI has been facing many challenges related to security, privacy, and ethical issues.
8. Lack of biodiversity planning as part of the overall climate mitigation including sustainable mining, forestry, oil, gas, agriculture, and housing
9. Geopolitical issues continue to impact supply chain.
10. The concerns of recession continue to plague both the private and public sector.
11. Productivity issues continue to plague governments around the world.
Workforce Planning and Employment Analysis - August 2023.pptxpaul young cpa, cga
The document discusses workforce planning and employment analysis. It provides an overview of employment statistics in the United States, Canada, and Australia. It then discusses Sysco's workforce planning model and the role of the CFO in workforce planning. Finally, it defines autonomous finance as the automation of financial operations through software and algorithms, and provides some key statistics on its adoption.
Global Automotive - Analysis and Commentary - August 2023.pptxpaul young cpa, cga
This presentation provides an overview of key trends in the global automotive sector in August 2023. It discusses 1) sales trends in Canada, the US and globally, 2) the growth of electric vehicles and focus on reducing emissions, and 3) ongoing transformation in the industry through automation, connectivity and new technologies. Sources included discuss topics like electric vehicle production and adoption, public safety issues regarding EV fires, gasoline and car prices, supply chain challenges, and green transitions in transportation.
Global (Mining Oil and Gas Forestry and Agriculture) Analysis and Commentary ...paul young cpa, cga
The mining, oil, gas, agriculture, forestry, and mining continue to face environmental, social, and governance policy review including reporting of key metrics as part of ESG reporting cycle.
There is more focus on profitability and investment returns as part of the integrated planning and reporting cycle.
Summary:
The global economy faces what at least one forecaster is calling a mild trade recession as shipments from China slump and German factories downshift.
China’s export declines extended into August, though there were signs that the worst of a world trade slowdown may be over for the leading exporter.
Overseas shipments from China fell 8.8% in dollar terms from a year earlier while imports contracted 7.3%, both better than economists’ estimates and significantly less severe than July’s downturn.
Other data have suggested trade may be stabilizing after weakening for most of this year. Exports from South Korea also declined at a more moderate pace in August than the previous month.
Source: https://www.bloomberg.com/news/newsletters/2023-09-07/supply-chain-latest-world-trade-faces-a-shallow-recession?srnd=economics-v2
Additional sources and links:
Lithium - https://source.benchmarkminerals.com/article/falling-lithium-prices-challenge-potential-cost-advantages-of-sodium-batteries
Oil Production - https://www.cnn.com/2023/09/06/business/oil-price-goldman-sachs/index.html
Natural gas - https://www.fxstreet.com/news/natural-gas-holds-up-as-markets-in-limbo-over-strikes-202309070956
Lumber - https://www.fastmarkets.com/insights/sawmill-capacity-closures-reshape-us-lumber-supply
Critical metals - https://www.wasterecyclingmag.ca/feature/how-recycling-could-solve-the-shortage-of-minerals-essential-to-clean-energy/
Agriculture - https://www.morningagclips.com/economists-forecast-positive-end-of-year-crop-outlook-despite-warmer-midwestern-climate/
ESG - https://www.skadden.com/insights/publications/2023/09/the-informed-board/the-eus-new-esg-disclosure-rules
Ports - https://www.marketscreener.com/quote/stock/HAPAG-LLOYD-AG-24857717/news/Hapag-Lloyd-chief-warns-of-rougher-seas-ahead-for-container-shipping-44789017/
Top destination for reshoring - https://www.thenationalnews.com/business/economy/2023/08/29/uae-in-top-10-most-powerful-passports-for-investment-opportunity/
Global Trade - https://phys.org/news/2023-09-opinion-broke-global-climate-finish.html
What is next for the Forestry Sector and Lumber Production - September 2023.pptxpaul young cpa, cga
Lumber production in Canada continues to face many hurdles
Canada forest management practices are some of the bests in the world
Canada planted over 440M in seedlings back in 2018. It is now 2022 which means close 2M seedlings have been planted.
All levels need to put more focus on urban and rural planning solutions
More work including spending on wildfire and forest fire mitigation
Canada and USA need to find a path forward to resolve the softwood lumber dispute
There needs to a better balanced between climate change policies and growing the economy in a sustainable way
3D printing for housing needs to become mainstream
More protection needs to happen with key ecosystems like wetlands, forest, and peatlands.
There is a risk of debt default if interest rates are hike over the next few months
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
South Dakota State University degree offer diploma Transcriptynfqplhm
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Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
2. PAUL YOUNG - BIO
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
YouTube - https://www.youtube.com/user/youngercga1968/videos
3. AGENDA
• Wealth per capita
• Electricity / Wealth
• How is wealth created?
• Top 1% and Canada (Taxes)
• Tax Fairness / Canada
• Highest Tax / Country
• Pensions Funds and Stock Market
• Tax Competitiveness
• AOC / Wealth Tax
• California Wealth Tax
• Underground Economy / Canada
• World / Underground Economy
• Tax Havens
• Business Transfers
• Natural Resources wealth
• What needs to happen
7. HOW IS
WEALTH
CREATED
• People invest in companies – share purchases -
https://www.bloomberg.com/news/articles/2020-06-15/asia-
stocks-to-gain-after-fed-ignites-risk-on-mood-markets-wrap
• People buy property / Rental Property -
https://www.slideshare.net/paulyoungcga/canada-housing-
market-latest-analysis-may-2020
• People start businesses -
https://www.slideshare.net/paulyoungcga/canada-whats-next-
for-small-business
• People inherit money - https://taxfoundation.org/estate-and-
inheritance-taxes-around-world/
• Win the lottery - https://www.lottoland.asia/magazine/9-
countries-where-you-do-not-need-to-pay-tax-on-lottery-
winning.html
• Innovation - https://www.slideshare.net/paulyoungcga/2019-
election-innovation-and-rd-canada-2014-to-2017
• Professional Athlete, Actors and Actresses -
https://www.statista.com/statistics/675120/average-sports-
salaries-by-league/ or https://www.cnbc.com/2020/02/07/the-
10-highest-paid-actors-and-actresses-of-2019.html
• Choose a career that has upsell opportunities in terms of salary
and benefits, i.e. engineer, lawyer, doctor -
https://www.foxbusiness.com/lifestyle/the-10-highest-paying-
jobs-in-the-world
9. TOP 1% AND
TAXES
Source -
https://www150.statcan.gc.ca/t
1/tbl1/en/tv.action?pid=11100
05501 or
https://www150.statcan.gc.ca/t
1/tbl1/en/tv.action?pid=11100
05501
10. TAX FAIRNESS / CANADA
Taxing high income earners has not work in the past.
There are ways to fix tax fairness by re-working the ITA, closing down tax havens, Technology tax, revisiting eCommerce taxing, etc. -
https://www.slideshare.net/paulyoungcga/2019-election-who-do-your-trust-more-when-it-comes-to-tax-fairness
If Canada also became more competitive it could also bring back FDI and be a world leader in sustainable natural resources -
https://www.slideshare.net/paulyoungcga/have-the-liberal-party-of-canada-supported-the-natural-resources-sector
https://www.slideshare.net/paulyoungcga/world-needs-to-look-at-tax-fairness (October 2019)
We do not need a wealth tax!
We do need the following
1. Refocus on supply chain
2. Transforming of Government
Source - https://www.slideshare.net/paulyoungcga/how-best-to-reshore-supply-chains
Source - https://www.slideshare.net/paulyoungcga/canada-municipal-and-local-government-whats-needs-to-be-done
Source - https://www.slideshare.net/paulyoungcga/world-needs-to-look-at-tax-fairness
11. HIGHEST TAX JURISDICTION / COUNTRY
Source - https://www.weforum.org/agenda/2019/11/income-tax-around-the-
world/
• Scandinavia has some highest cost of living in the world
- https://www.businessinsider.com/most-expensive-
countries-to-live-in-ranked#6-denmark-20
• USA wealth distribution - https://www.urban.org/policy-
centers/cross-center-initiatives/state-and-local-finance-
initiative/state-and-local-backgrounders/public-
welfare-expenditures
• Scandinavia have strong, but expensive government
models - http://statisticstimes.com/ranking/democracy-
index.php
• Consumption Taxes - https://www.retail-insight-
network.com/features/highest-sales-tax/
• Revamping Tax codes -
https://www.fool.com/retirement/2019/07/21/you-
wont-believe-how-complex-our-tax-system-is.aspx or
https://www.slideshare.net/paulyoungcga/designing-
social-programs-and-tax-fairness-policies
12. STOCK MARKET AND
PENSION FUNDS
• Role of the Stock Market – “The stock market refers to the
collection of markets and exchanges where regular
activities of buying, selling, and issuance of shares of
publicly-held companies take place. Such financial activities
are conducted through institutionalized formal exchanges
or over-the-counter (OTC) marketplaces which operate
under a defined set of regulations. There can be multiple
stock trading venues in a country or a region which allow
transactions in stocks and other forms of securities.
”https://www.investopedia.com/terms/s/stockmarket.asp
• Pension funds have issues with solvency -
https://www.slideshare.net/paulyoungcga/pension-plans-
continue-face-solvency-issues
• Pension Funds
• Real State
• Money-market
• Company ownership
• Source -
https://www.investopedia.com/articles/credit-loans-
mortgages/090116/what-do-pension-funds-typically-
invest.asp
15. FAILURE OF
WEALTH
TAXES
• “Normally progressives like to point to Europe for policy
success. Not this time. The experiment with the wealth tax in
Europe was a failure in many countries. France's wealth tax
contributed to the exodus of an estimated 42,000 millionaires
between 2000 and 2012, among other problems. Only last year,
French president Emmanuel Macron killed it. In 1990, twelve
countries in Europe had a wealth tax. Today, there are only
three: Norway, Spain, and Switzerland. According to reports by
the OECD and others, there were some clear themes with the
policy: it was expensive to administer, it was hard on people
with lots of assets but little cash, it distorted saving and
investment decisions, it pushed the rich and their money out of
the taxing countries—and, perhaps worst of all, it didn't raise
much revenue. ”Source -
https://www.npr.org/sections/money/2019/02/26/698057356/if
-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs
• Wealth taxes have failed around the world -
https://www.wsj.com/articles/where-wealth-taxes-failed-
11572910833
• You cannot tax someone to prosperity -
https://fee.org/articles/why-a-wealth-tax-can-t-solve-our-
problems/
16. AOC AND WEALTH TAX
• USA GDP is driven by capital investment -
https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-
industry/
• USA has one the best innovative economies in the world -
https://www.visualcapitalist.com/world-most-innovative-economies/
• New York has one the highest taxation states -
https://wallethub.com/edu/best-worst-states-to-be-a-taxpayer/2416/
• AOC wealth tax would lead to exodus of businesses -
https://nypost.com/2020/07/17/aocs-billionaires-tax-would-spur-wealthy-
exodus-from-ny-report/
• Qatar has one highest per capita income due to its low population and
dependency on oil and gas -
https://www.indexmundi.com/g/r.aspx?t=50&v=67
• There should be more focus on reforming the tax act including the closing
down of tax havens - https://www.ctj.org/american-corporations-tell-irs-the-
majority-of-their-offshore-profits-are-in-10-tax-havens/
• Tax Policy reforms - https://equitablegrowth.org/a-modest-tax-reform-
proposal-to-roll-back-federal-tax-policy-to-1997/ or
17. CALIFORNIA WEALTH TAX
• Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on "Cavuto:
Coast to Coast" Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth
more than $30 million. The Alameda Democrat told Cavuto the proposed tax "affects about 0.15% of the
California population -- not the top 10%, not the top 1%, the top .15%, about 30,000 people" and would
generate $7.5 billion in revenue for the state. - Source - https://www.foxbusiness.com/fbntv/neil-cavuto-
california-rob-bonta-wealth-tax
• California already has one highest personal income tax rates in United States including high rates for high
income earners - https://taxfoundation.org/state-individual-income-tax-rates-brackets-2019/
• California is wrestling with a large deficit - https://www.cnn.com/2020/05/14/politics/california-budget-deficit-
federal-funds/index.html
• 77% of California expenses are related to healthcare and education -
https://www.sco.ca.gov/ard_state_cafr.html
• Exodus of people - https://www.fox6now.com/news/california-exodus-more-people-moving-out-of-state-
than-in-for-1st-time-since-2010
• Businesses continue to assess their California high taxation - https://chiefexecutive.net/business-exodus-
california-troubling-sanctuary-policies/
• Rich are trickling out of California - https://www.latimes.com/business/story/2019-10-24/hiltzik-wall-street-
journal-rich-california
• California Tax proposal - https://www.wsj.com/articles/a-california-plan-to-chase-away-the-rich-then-keep-
20. WORLD AND THE UNDERGROUND
ECONOMY
• Paying cash to contractors drives the underground economy -
https://www.investmentexecutive.com/news/research-and-markets/paying-cash-to-contractors-drives-
underground-economy/
• The underground economy can be about 15% to 20% of the total GDP.
• USA underground economy is estimated to be about $2.5 trillion -
https://www.investopedia.com/articles/markets/032916/how-big-underground-economy-america.asp
• What needs to be done
• More auditors and tools like AI - https://www.nextgov.com/ideas/2018/04/using-artificial-intelligence-reduce-tax-
fraud/147807/
• Expansion of audits in areas like hospitality, general trades and retail.
• More focus on reporting of results
• Home-owners could be required to report names of work done on their homes as part of renovations
21. TAX HAVENS
• More focus on tax treaties and working with OECD to shut down tax havens -
http://www.oecd.org/countries/caymanislands/jurisdictions-committed-to-improving-transparency-
and-establishing-effective-exchange-of-information-in-tax-matters.htm or
https://www.taxjustice.net/2020/07/22/tax-justice-networks-offshore-wealth-estimates-have-just-been-
validated-by-the-oecd/
• Tax havens cost government tax dollars -
https://www.imf.org/external/pubs/ft/fandd/2019/09/tackling-global-tax-havens-shaxon.htm
22. BUSINESS TRANSFERS
New Business Transfer rules
For example, assume that Mrs. A is a top-bracket individual living in Ontario. She owns Co. A — a corporation that carries on an active business. While Mrs. A
has no plans to sell the business, her accountant tells her there is a new plan that will allow her to strip cash of $892,000 out of the business at zero tax cost.
Mrs. A forms a new corporation, and her children invest a small amount — say a hundred dollars — for fixed-value preferred shares that give them voting
control of Newco. Mrs. A sells her shares of Co. A to Newco for cash of $892,000 and pays no tax. If Co. A had paid her a dividend of $892,000, her tax would
have been roughly $425,000. Under the bill, she avoids this tax completely, and continues to own and operate the business — all thanks to a hundred dollars of
voting preferred shares held by her children
Source - https://financialpost.com/opinion/allan-lanthier-ottawas-blunder-on-business-transfer-taxes-could-cost-
billions?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1627470001
Dunn said she anticipates that the department of finance will want to amend the bill’s language to limit transactions that may not be “bonafide intergenerational
transfers.” Any business owner currently in the process of selling their business, she said, should be cautious and reach out to their professional advisor.
“Because it’s welcome news, perhaps transactions will be undertaken quickly after it receives royal assent but just be careful that it is a bonafide
intergenerational transfer,” she said. • https://atlanticbusinessmagazine.ca/web-exclusives/bill-c-208-welcome-news-for-family-businesses-expert-says/
CPA view - http://www.canadian-accountant.com/content/practice/new-opportunities-for-intergenerational-transfers-of-businesses
Flawed bill - http://www.canadian-accountant.com/content/thought-leaders/tax-relief-for-family-business-transfers-a-legislative-fiasco-part-i
Cash stripping - https://invested.mdm.ca/md-articles/capital-gains-surplus-stripping-incorporated-physicians
23. TAX ISSUES WITH REIT
Taxation and REIT
Real Estate Income Trusts, or REITs for short, are companies that own or finance income-producing real estate. They receive special tax considerations and tend to have a higher distribution yield than
corporations.
Real estate assets can range from shopping malls, to apartment buildings, to office properties, or a mixed of the different assets. Due to the REIT structure and tax code, REIT taxation for investors in Canada
differs from dividends and warrant a good understanding by individual investors. See below for the Canadian break down by sub-industries.
Source - https://dividendearner.com/reit-taxation/
Benefits:
Over the last few years, a number of Canadian companies have created a REIT as part of a larger business strategy, including Dilawri Group, which established Automotive Properties REIT in 2015; Canadian
Tire Corporation, which established CT REIT in 2013; and Loblaw Companies Limited, which established Choice Properties REIT in 2012.
Setting up a REIT offers a number of potential advantages for business owners, including the following https://www.bdo.ca/en-ca/insights/industries/real-estate-construction/starting-reit-unlock-value-your-
business/
Loopholes
C4TF collaborated with ACORN to calculate the unfair tax advantages that REITs enjoy in Canada. Our research focused on seven REITs that own residential rental properties.[1] We found that if these REITs
had been taxed at the same rate as other Canadian corporations, they would have paid $1.2 billion more in taxes since 2010. Closing this tax loophole would raise revenues to help pay for affordable housing,
while ensuring REIT investors do not profit from the housing challenges in Canadian cities.
ACORN’s report notes that in 1996, REITs owned zero purpose-built multi-family rentals. By 2017, they owned 10% of this rental stock. Alongside the rise of REITs has been an overall concentration among
landlords that control the rental supply. The 20 biggest landlords went from owning 16% of units in 2011 to 20% in 2017. On the other side of this process, renters saw the number of affordable units decline by
830,000. With rising rents and stagnant incomes, about 800,000 Canadians pay more than 50 percent of their income on rent.
REITs have been exploiting people’s housing needs to reap billions in profits, in addition to receiving preferential tax treatment.
Source - https://www.taxfairness.ca/en/news/federal-government-must-end-preferential-tax-treatment-reits
25. WHAT’S NEEDS TO
BE DONE
• Revamping the tax code including shutting down tax havens -
https://www.slideshare.net/paulyoungcga/does-taxing-the-top-1-
generate-the-tax-dollars
• Digital Tax - https://www.politico.com/news/2020/07/27/europe-
digital-tax-382309
• Reforming government as part of making government more
efficient and effective -
https://www.slideshare.net/paulyoungcga/transforming-the-public-
sector-canada
• Focusing policies that support economic growth -
https://www.slideshare.net/paulyoungcga/how-best-to-reshore-
supply-chains or https://www.slideshare.net/paulyoungcga/whats-
next-for-canada-post-covid19
• Fixing issues with protectionism including revamping the WTO -
https://www.slideshare.net/paulyoungcga/canada-merchandise-
trade-april-2020
• More emphasis on education and training -
https://www.slideshare.net/paulyoungcga/human-capital-skills-
trades-and-skills-development
• Reforming United Nations and its various agencies -
https://www.slideshare.net/paulyoungcga/reforming-both-the-
united-nations-and-who
• Focusing on improving areas like infrastructure, farming, urban
planning, water and forestry management -
https://www.slideshare.net/paulyoungcga/the-real-truth-about-
emissions-and-carbon-taxation or
https://www.slideshare.net/paulyoungcga/canada-how-are-farmers-
doing-in-financial-in-canada
• FDI - https://www.slideshare.net/paulyoungcga/what-is-next-for-
foreign-direct-investment
26. OTHER
SOURCES
• If you like to learn more
about trade and/or other
subjects as part of your
professional learning and
development then feel
free to review my material
on
https://www.udemy.com/
(search Paul Young CPA
CGA