Why is the middle class under pressure around the world
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Lots have been written on the middle class. Many governments around the world target the middle class as part of helping the middle class. The problem is that many governments are too busy focusing on policies that do little in terms either helping the environment or supporting the middle class.
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Liberal party of Canada - Grow the Economy Mandate
Canada’s economy has grown about 2% for the past 16+ years. The Liberals came to office and said they will increase GDP growth as the previous government did little in terms of growing the economy.
Canada’s economy for the next decade or so will be on pace for 2% which is the same level from 2000-2015.
Liberals will add $100B in new debt and have the same growth as the previous government of 2%.
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Many Canadian government has tried to reduce poverty. The poverty levels have been consistent for years at 13%.
The Liberals have said they have reduced poverty, but the stats do no show that is the case.
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Blog – Failure of Trudeanomics
1. Cost of living continues to rise - @JustinTrudeau keeps finding ways to tax people. Trudeau policies are not making things more affordable unless you are friends of the LPC! https://www.slideshare.net/paulyoungcga/cost-of-living-canada-february-2021
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3. Canada had 15B+ deficit with slower growth before COVID19 - https://ipolitics.ca/2021/03/31/pbo-projects-363-4b-federal-deficit-faster-economic-recovery/
4. Failure to safeguard assets and Canadians - https://www.oag-bvg.gc.ca/internet/English/att__e_43789.html
5. Canada competitiveness slipping - https://www.theguardian.pe.ca/opinion/local-perspectives/kevin-lynch-paul-deegan-atlantic-canada-not-keeping-up-with-the-global-competition-571328/
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https://www.slideshare.net/paulyoungcga/2019-election-direct-and-indirect-subsidies-to-businesses-august-2019 (Business subsidies are corporate welfare but gets ignored when these subsidies go to clean technology companies
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9. Slow growth
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2018 https://www.slideshare.net/paulyoungcga/gdp-canada-the-real-truth
Oct/19 - https://www.slideshare.net/paulyoungcga/global-growth-and-the-major-issues-facing-global-gdp
Jan/21 - https://www.slideshare.net/paulyoungcga/gdp-analysis-and-commentary-canadajanuary-2021
10. Forestry
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Canada’s economy for the next decade or so will be on pace for 2% which is the same level from 2000-2015.
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The Liberals have said they have reduced poverty, but the stats do no show that is the case.
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1. Cost of living continues to rise - @JustinTrudeau keeps finding ways to tax people. Trudeau policies are not making things more affordable unless you are friends of the LPC! https://www.slideshare.net/paulyoungcga/cost-of-living-canada-february-2021
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5. Canada competitiveness slipping - https://www.theguardian.pe.ca/opinion/local-perspectives/kevin-lynch-paul-deegan-atlantic-canada-not-keeping-up-with-the-global-competition-571328/
6. Potential structural issues with unemployment - https://www150.statcan.gc.ca/n1/daily-quotidien/210312/dq210312a-eng.htm
7. Trudeau promised open and transparent government which did not happen
8. Trudeau green reset is also a mistake as internal reports have shown issues with his subsidies program –
Few green energy projects are viable without subsidies, says an internal report at the Department of Natural Resources. Auditors called it a market failure: “Analysis of the financial information was revealing.”
https://www.blacklocks.ca/green-power-subsidy-fueled/
I support green technology if it is viable without direct subsidies.
https://www.slideshare.net/paulyoungcga/protecting-the-environment-through-proper-balance-between-economic-and-economic-policies (3/21)
https://www.slideshare.net/paulyoungcga/2019-election-direct-and-indirect-subsidies-to-businesses-august-2019 (Business subsidies are corporate welfare but gets ignored when these subsidies go to clean technology companies
Answers are with how you better manage the circular economy - https://www.slideshare.net/paulyoungcga/how-to-maximized-the-circular-economy-244067365
9. Slow growth
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GDP was in trouble pre-covid19.
2016 https://www.slideshare.net/paulyoungcga/2016-november-2016-gdp-gross-domestic-product-canada
2018 https://www.slideshare.net/paulyoungcga/gdp-canada-the-real-truth
Oct/19 - https://www.slideshare.net/paulyoungcga/global-growth-and-the-major-issues-facing-global-gdp
Jan/21 - https://www.slideshare.net/paulyoungcga/gdp-analysis-and-commentary-canadajanuary-2021
10. Forestry
https://www.slideshare.net/paulyoungcga/what-is-next-for-the-forestry-sector-january-2021
Global Forest Watch found that the world’s forests sequestered about twice as much CO2 as they emitted between 2001 and 2019.
CAN has 9% of the total forest as such this would mean CAN is a carbon sink. So, why does CAN need a carbon tax?
@SeamusORegan
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2. BC bond downgrade - https://www.fitchratings.com/research/international-public-finance/fitch-downgrades-province-of-british-columbia-idrs-to-aa-from-aaa-outlook-stable-25-06-2021
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Who do you trust more to make Canada more Affordable?
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Consumer Price Index
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- The document discusses Florida's economy and job market following the 2008-2009 recession. It describes how Florida went from an employment growth leader to having high unemployment due to cyclical factors like the housing crisis and global recession.
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- Longer term recommendations focused on diversifying Florida's economy and investing in talent creation, innovation, and infrastructure to foster high-skill, high-wage jobs. Developing new non-tax revenue sources was also suggested.
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Failure of Trudeaunomics - January 2022
1. Housing affordability – During 2015 election is when Ralph Goodale said Harper had the worse household debt in Canadian history https://nationalpost.com/opinion/ralph-goodale-the-myth-of-the-roaring-canadian-economy . Fast forward to 2022 and now you are seeing household affordability the worse in over 30 years - https://www.macleans.ca/longforms/down-payments-are-less-affordable-than-ever-unless-you-have-generational-wealth/
2. Trudeau’s deficits with neither effective nor small - https://torontosun.com/opinion/columnists/goldstein-lets-stop-pretending-trudeaus-deficit-projections-are-real
3. Trudeau environmental policies had many issues - https://www.theglobeandmail.com/politics/article-contradictory-spending-slow-pace-trouble-trudeau-governments-emissions/
4. Immigration is a concern due to fact there is a job quality issue - https://www.slideshare.net/paulyoungcga/has-canada-immigration-policies-been-effective
5. GDP was sluggish pre-covid19 and little was said by MSM and Trudeau’s team - https://www.slideshare.net/paulyoungcga/world-and-slow-economic-growth
6. Supply chain was in bad shape pre-covid19 - https://www.slideshare.net/paulyoungcga/analysis-of-the-goods-producing-sector-canada-august-2019-and-september-2019
7. Trudeau never brought Canada back on the world scene - https://www.slideshare.net/paulyoungcga/foreign-affairs-and-policies-is-canada-back-250969830
8. Trudeau promise to help small business and the went on to hiking small businesses taxes as he called small business owners tax cheats. https://www.slideshare.net/paulyoungcga/canada-small-business-survival-analysis-and-commentary
9. Trudeau promise to be more open and transparent and has failed - https://www.slideshare.net/paulyoungcga/justin-trudeau-governance-model-january-15-2022
10. Trudeau policies never address productivity - https://www.slideshare.net/paulyoungcga/how-to-improve-canada-global-competitiveness-250791285
11. Trudeau’s team has ignored many audit reports. Trudeau has done little to improve outcomes on various programs - https://www.slideshare.net/paulyoungcga/fiscal-update-for-canada-december-2021
World and Slow Economic Growth
This document provides an overview and analysis of issues facing the Canadian economy as it heads for slower economic growth. It summarizes GDP forecasts showing slowing global growth. For Canada specifically, it notes the IMF forecasting lower growth than previous estimates and discusses factors impacting Canadian GDP such as commodity prices, consumer demand, and government policies. Key sectors of the Canadian economy like goods production and exports are examined. Potential policy solutions discussed include investing in infrastructure, education and retraining to support new industries, and trade agreements to boost exports.
Canada - Debt and Deficit - February 2018
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Economic Solutions to In-Work Poverty - Graeme Harrison (Oxford Economics)
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I have written many blogs on GDP as such GDP was never what at Justin Trudeau made it out to be for Canada.
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The key challenges facing Australian business leaders in 2023 include:
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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.pptx
Summary:
Homebuilders are walking a fine line when it comes to new projects as high mortgage rates curb demand.
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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.
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Source: https://ca.finance.yahoo.com/news/homebuilders-face-a-tough-balancing-act-on-new-construction-amid-high-mortgage-rates-130744368.html
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Blog – What is next for the Mining Sector – September 2023
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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
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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/
Manufacturing Sector – United States – August 2023.pptx
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.pptx
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.
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Manufacturing Sector – Canada – September 2023.pptx
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- 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.pptx
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 ...
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 - ...
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...
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.
What is next for Agriculture Sector - August 2023.pptx
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 ...
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.pptx
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.pptx
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.pptx
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.pptx
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 ...
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.
World Merchandise Trade – September 2023.pptx
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.pptx
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
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Why is the middle class under pressure around the world
- 1. WHY IS MIDDLECLASS UNDER PRESSURE? BY: PAUL YOUNG CPA, CGA DATE: MARCH 11, 2017
- 2. AGENDA • GDP Growth • Job/Employment • Middle class / World • Liberal Party Policies/Trudeau • Global Emissions/Carbon Pricing
- 3. GDP FORECAST Source – Scotiabank – Mach 7, 2017 Comments: • Job creation • Majority of the jobs the past few years have been part-time (https://www.slideshare.net/paulyoungcga/2017- february-employment-canada-jobless-rate-drops- to-66-as-canada-added-15000-jobs-in-february- 2017 • Middle class has been shrinking for years • Forbes said it best “Canada cut taxes and does a much better job of sharing the wealth through equalization payments - https://www.youtube.com/watch?v=yOl37VcG89c • Wage growth has been about 1%/year for the past 10+ years. Wages are not keeping pace with either inflation or rise in housing prices • Hard to compare countries due to different taxation structures • Europe emphasizes VAT (15% to 20% range) • North American (personal and corporate taxes) • Sluggish growth since 2000 • Aging populations in mature economies • Lower demand world-wide (China economy has cooled down)
- 4. EMPLOYMENT Stats – Canada – March 10, 2017 Wages • Goods Producing Wages/Weekly $1,438 or $75,000 (year) – lost 85,000 jobs • Service Sector Wages/Weekly $1,055 or $55,000 • Bulk of new jobs are part-time/job churning • 30% of the jobs created in the service sector were government related Middle class • No new taxes • Hikes to tax rates (personal and payroll taxes) • No removal of tax credits • No Carbon taxes • New private sector investment • Development of resources • Advance manufacturing • Technology (Clean Tech, Analytics, cybersecurity, eCommerce, cloud, export farming, robotics and drones) • Revamping housing rules • Emphasis on infrastructure that both move goods to market as well as transportation
- 5. MIDDLE CLASS 2020 Source – Brookings Institute – March 12, 2017
- 6. LIBERAL PARTY OF CANADA / JUSTIN TRUDEAU • https://www.youtube.com/watch?v=lUZBt_qq3WY Liberal Plan • Clean tech is $12B business or about 3.5% of the total goods producing sector • It takes years to commercialized clean tech • SDTC has been around since early 2000s and has help companies • Lack of access to capital is hurting startups • Canada lacks the capacity to get natural resources to market • Manufacturing and Resources compete for global capital • Liberals are moving to carbon tax as well as other taxes • Australia pull the tax as it did nothing for emissions but hurt the economy • Canada’s economy is similar to Australia • More red tape/regulations • Only small portion of $120B infrastructure is going to support exports • For each $1B of exports there is 5,500 jobs • Goods producing sector lost close to 80K jobs since the liberals tool office
- 7. GLOBAL EMISSIONS Who in the top four countries have implemented carbon tax? How is Canada carbon tax going to impact the overall emissions? Canada middle class is already under pressure as such how is new carbon tax going to make their lives better?
- 8. SUMMARY • It is not one policy that supports the middle class, but many policies • Taxes like carbon tax and consumption taxes hurt the middle class more as those taxes are paid with after tax income. More tax in the cost of products less money for big ticket purchases. It is consumer consumption that drives the economy. • Housing market has many issues which are leading to affordability when it comes to first-time home buyers. • Liberals talk balance approach to environment and development of resources. The liberals feel carbon tax will create the balance when it has been a failure CBC – December 7, 2016
Editor's Notes
- http://www.cbc.ca/news/canada/saskatoon/australian-carbon-tax-opponent-chris-berg-saskatchewan-1.3884765