Friday, September 18, 2015

Capital Flight Question Dodged by Mulcair During the Economy Debate

Stephen Harper did just fine in last night's Globe and Mail debate on economics.  The policies speak for themselves.  They are clearly proven to be the best ones.  This government significantly lowered taxes while increasing revenue.  Higher revenues allowed a balanced budget and increased spending.

Only Stephen Harper knows how to do that.  We know because he did it.  He promised us he would have a surplus and increase the UCCB and he did it.  He did it in a sustainable way.  He did it despite volatile markets, sovereign debt instability and blooming global security threats.

Stephen Harper has it covered.  You can put Conservative promises in the bank.

Nobody believes the NDP will have balanced budgets.  They have a raft of spending promises that they pretend will be paid in real time with higher taxes.   Not even the NDP believes it.  It's unsettling that they can so casually look people in the eye or into a camera and make impossible claims.  We are being asked to believe that Thomas J. Mulcair of the NDP is a better economist and conservative that Stephen Harper.  We are being asked to accept that a party that has never been in power and has ruined every province they stumbled into will somehow be better than the decade of sound fiscal judgement that is the hallmark of Stephen Harper's leadership.

There was a moment in the debate last night where Harper could have scored one on Mulcair.   The net was open.  The puck was loose.  Harper didn't take the shot.

Here is the exchange:

David Walmsley:   If corporations move their money elsewhere, you lose both your balanced budget and your revenue.

Hon. Tom Mulcair:  That’s why you’ve also got to work at the same time against tax havens. Mr. Harper has done nothing about that. We’ve had cases where other authorities in other countries have given full lists of Canadians who have been using illegal tax havens, and Mr. Harper has done nothing about that.
The economic phenomenon Walmsley describes is called Capital Flight.   If a government makes business conditions unfavorable by raising taxes or imposing onerous regulations those businesses will eventually leave that jurisdiction.

Mulcair didn't deny that was a possibility, instead he evaded the question by promising to go after a specific form of tax evasion.  That will not attract a dime of foreign investment.  There is no way to punish foreign investors into bringing their money to Canada.

Capital Flight is on my mind.  I lived through capital flight.  I spent months in Saskatchewan and British Columbia two weeks at a time.  The Progressives in Alberta decided to have a royalty review (tax hike on drilling) and so all the majority of smaller Operators fled east and west.  What did they expect?

What does the NDP expect to happen after they hike taxes?  There is oil and gas practically everywhere.  Even Canadian oil companies aren't obligated to invest here.  There is no law saying thou shalt drill.  No one would put their money into a place with such laws.  That is exactly the problem the NDP is creating.

Yes there's a global oil glut.  Good!  OPEC is dead.  Very good!  I've read that unconventional oil can handle some very low prices.  There is money to be made helping Operators cut costs.  That's Capitalism baby and we rock it.

We aren't made of sclerotic union shops like the government itself.  You can keep your tax funded bailouts for the mega zombie corps that are ready to die at the slightest trouble.  But before you do.  Just take a moment to recognize how things are stacked in these left wing parties.

Ontario's auto sector gets bailouts.  The West's economy get's what?  Taxes.  Anti-bailouts.  From our own insane NDP government no less.  Trudeau and Mulcair have a double dose of goodies in store for us should they win this election.  Carbon taxes.  Cap and Trade.  Endless regulations.  Only the rigs aren't going to British Columbia or Saskatchewan.  They are going to North Dakota and further.

Are they crazy though?  Do they not understand they are killing our jobs and industry?  Well ask them?  Every second policy mentions ending fossil fuels.  The left doesn't care about our jobs.  They don't give a damn if the resource industry shuts down like Venezuela's.  That is what they are after.

So these left wing parties are going to cut back on spending because they killed off their biggest source of revenue from resources right?  No they won't they never do.  Its the green shift under another name.  Either the green shift works and there is no Oil and Gas industry.  Taxes then have to come from other industries.  Or nothing shifts and everyone just has to pay ridiculous economy stifling taxes.

Programmers are just as talented in Belarus or India.  What magic will make these "good jobs" come and pay for NDP mistakes in Canada?  Same goes for manufacturing.

The NDP is bad news.

Trust Stephen Harper.  He knows what he's doing.  He's proved it. Surpluses and tax cuts exactly on time.  That is the kind of government we demand.


Ward Benedict said...

The whole ballgame is to hold Harper to a minority. Libs and Dips will then vote non confidence, and rather than have that trigger an election they will go to the GG and ask to be installed directly into power circumventing the electorate.

They will then implement each others policies with blank cheque governance.

the first major policy will be to sign away Canadas economic, technological and national sovereignty in Paris.

And that bit of treason will never be undone. That will be the endgame.

Alex F said...

Totally. All their promises are moot if they coalition and the NDP knows it. They would claim they had to compromise to please the other party. How utterly disgusting is the left?

Martin said...

I agree with Ward Bennedict. My greatest fear is that PMSH finishes first but with just a few more seats than NDP.The 2 socialist parties would move as soon as parliament regrouped to declare non confidence, and hope the GG would turn to form a government. It is not enough to just win a minority, CPC must win the popular vote and significantly more seats, or better still, win a majority.

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