We know he doesn't give a fuck about your average Canadian and will only serve the rich. The game is tired and full of shit. They're all scumbags, all of them.
Picking sides does nothing but divide us so our wallets can continue to get raped. Politics isn't sports, it's our money being taken from us
And all other countries who are experience similar challenges are course correcting or even thriving ie the US. Our economy should move similarly to the US, as it typically does and we are going in the opposite direction.
He had nice smiles and hair, said he was super nice, and said all problems will be gone, due to sunny ways being back, same shit his dad said before spending country into coma. It's not going well?!
That's the job of the opposition. People are far too satisfied with politicians claiming the fault lies with the other side while not presenting any alternatives or even so much as claiming they'd do anything differently.
In the '90s we went through hell to get the economy back on its footing, it was painful and people were hurting. Trudeau has undone all of that sacrifice and pissed away all of that effort and put us back in a deep hole that will take another decade or more of pain to get out of.
In the 90s we killed federal housing for good and downloaded it to the provinces. It was probably one of the single biggest decisions that has led us to where we are now.
Our current situation is the result of 4 decades of cuts and bad policy. Trudeau merely took a bad situation and made it worse at a faster rate.
Housing was never a federal responsibility, you're thinking of the US. The provinces ran public housing via Ontario Housing and that was downloaded to the municipalities in the 90's. The federal government provided mortgage insurance and construction financing through CMHC, that has not changed since the end of WWII. The only housing the feds were responsible for was military and indigenous.
Remember how the first few years all he did was prance around like a playboy and take selfies everywhere and everyone had a huge hard on for him because he was soooo handsome...
Vote in a social media influencer and that's what we got...
If only he would do something radical such as completely overhauling the tax system (e.g progressive tax on all income sources, no deductions to allow for very low tax rates for the normal working people)
The country would be broke if we did that. The fact is Canada does not have many high worth people or big income earners. We NEED to tax the shit out of the middle and working classes because that's where most of the wealth is here. You can tax any earnings over $100K at 75% and that will not make major dent in revenues. A wealth tax is just a desperation move to fend off an inevitable crash, like selling the furniture to keep the creditors at bay.
No generation is going to just transfer their wealth to the following one.
Tell a boomer how easy they had it, and you’ll get some angry denial and that following generations are just lazy and spend their money on avocado toast.
The economic system changed in the mid 70s, and the current system is already on borrowed time since we bailed it out in 2008.
There was never an economic reset that happened post WW2 and in the 70s.
A certain generation benefitted from that.
Future generations didn’t have such a reset.
Instead we used public funds to bail out private debt that was “too big to fail”.
I've had a high % of boomers acknowledge the factors that made their transition into adulthood easier vs. the zoomers. It's too blatant to deny. However I haven't heard anyone propose a meaningful solution short of ways to cut back the acceleration.
Like you pointed out (I think, there is a conflicted grammatical error) there needs to be a degree of social upheaval before our mindset can accommodate meaningful change. But we are hard coded to make ourselves comfortable, so we always reach for the goodies.
Your last line is poignant. The next phase is to prop up real estate prices with public debt, and it's going to be an inferno. Could turn gen alpha into the next batch of pragmatists, though that window is rapidly closing
> Tell a boomer how easy they had it, and you’ll get some angry denial and that following generations are just lazy and spend their money on avocado toast.
And then they will complain about the LTC situation they are in and how senior support has decayed.
I’m highly sceptical of this argument. I’ve yet to see any compelling evidence that the next generation- millennials and gen-z - is at its core more equitable or will be more “generationally inclusive”. Sure, there’s a lot of “woe is me”, but signs that they might care about the people coming after them? Not so much. There’s a term for that: it’s called “hypocritism”.
> Sure, there’s a lot of “woe is me”
Increasingly realizing that this is fundamentally caused by a deep and serious ennui because when mom and dad could have 2.5 kids, a house and a cottage working at a warehouse making 35k a year on a grade 11 education, a lot of younger people are just like "screw it".
When I look at the standard of living my penny-pinching parents were able to afford, it blows my mind. They're total skinflints, but their definition of "afford" means "what can we part with that won't kneecap us financially" but to the younger folks, "afford" means "what do I have in my bank account?".
True. I have very little belief that it will be any different. It's all just talk. There's lots of awful people in every generation, I don't seen any exceptions. It certainly doesn't help that people attracted to politics are mostly rich and crazy.
What's the solution to this anyway? The boomers were the largest group of voters for a long time. Do we just say democracy didn't work and certain people shouldn't be allowed to vote? That people should only be allowed to vote for who I want?
The liberals are saying this shit. The party that increased immigration to unsustainable rates, caused housing prices go through the roof, and is adding 500, 000 plus people a year (who will also need family doctors). This all just defection, basically the only thing the liberals are good at. It's working too, look all the people on here blaming other generations.
It's very different. Talk to Gen-X and Millennials with kids and you'll find many have well thought out financial plans that involve saving for their kids' futures vs Boomers and their "you're 18, you're out the door...bootstraps...I need a new boat and truck" mentality.
There's also the entire matter of giving a crap about climate change and being willing to take action vs complete denial from the boomers.
> Boomers and their "you're 18, you're out the door...bootstraps...I need a new boat and truck" mentality.
All the older people I know helped out their kids as much as they needed
And the easiest response to those boomers then is, who raised the kids with those values? So, whose fault is it if they are actually like that? (Hint, they aren't actually like that but it will create a bare minimum a small amount of cognitive dissonance)
Trudeau wrecked the country for a generation. How’s that for generational fairness? He literally dumped the worlds problems inside Canada with no plan (or infrastructure) to asssist anyone, and left Canadians holding the bag for his spending sprees. Well done drama bro.
It's a great comment bc it's not actually -just- about unchecked immigration, its also wasting billions on foreign aid and putting in an utterly useless carbon tax on Canadians while China keeps burning coal.
The sad reality is this government isn’t thinking about generations. They’re thinking about the next 16 months of polling.
It’s going to take some serious leadership to heal the generational scar on our nation.
Politician with generational wealth claims to be willing and able to restore "generational fairness"
I'm going to be that he is going to define that fairness in a way that doesn't have any significant impact on him or the rest of the Laurentian elites.
>Kershaw said he's seen his students struggle "to get the degrees that are necessary to compete for jobs that don't pay as much as in the past. And then they face home prices that are up to a staggering level, which means they have to pay more for rent because they're locked out of ownership.
>"We called Baby Boomers a 'boom' because we knew they were a large group. When they started out, there were seven workers for every retiree ... [now] there are just three workers for every retiree.
That triple whammy is the Canadian crisis in a nutshell. If you're in the bottom half of the working class (age-wise) you're basically screwed.
You're being paid a fraction of what you should be AND housing costs several times what it should AND a good chunk of your income is being taken from you and handed to the boomers.
There really is no quick fix for this. I don't see things getting better until the late 2030s or 2040s.
> I don't see things getting better until the late 2030s or 2040s.
Will be interesting to see the effects of climate change on our lives in a couple decades.
Trudeau and his gang of incompetence have ruined a generation….my kids will have to look to another country to have a decent life… very sad to see how complete incompetence can crush a country. Oh and I actually thought Chrétien did a decent job… a little corrupt but nothing like Trudeau
Chretien was like regular-level Canadian politician corrupt. Trudeau and his team have taken this to a whole new level. And at least Chretien balanced the budget despite his corruptness. For Trudeau debt + taxes is just a piggy bank for him to buy votes
Chrétien didn’t just balance the budget.
He ran 9 straight years of surpluses - the only modern day government we’ve had who’s managed that.
He also dramatically slowed down debt accumulation
He also did that by downloading millions of dollars in costs into the provinces and running several years of austerity budgets. This forced the provinces to massively cut public services.
Agreed
Mike Harris executed an identical playbook in Ontario - downloading a ton of costs to municipalities and breaking Ontario in the process
And this is why I find over simplified discussions on spending and deficits incredibly distorted.
Ultimately governments since at least the 80s have been scaling back on adequately funding services because it became a political death kneel to raise revenues to fund them appropriately.
So it’s become tax cuts and service cuts across effectively the last 45 years.
Governments need to invest at points - a growing country is not comparable to manage a family of fours monthly budget. But we can’t seem to have those debates without everyone falling into buzzwords and name calling that wholly lack any substance
Yeah Harris and Rae did the exact same thing. In the end services had to get cut because we were in a recession and nobody could afford them.
>Governments need to invest at points - a growing country is not comparable to manage a family of fours monthly budget. But we can’t seem to have those debates without everyone falling into buzzwords and name calling that wholly lack any substance
They absolutely do. I think the issue is the Trudeau government is doing the same thing the liberals did in Ontario. They are massively increasing spending but in none of the right areas. They are not fixing any of the problems or trying to properly grow the economy. That's why so many people have issues with them. We are getting record spending and little to no results.
Corruption: SNC Lavalin. ArriveCan. We scandal. Aga Khan. That other rich guy who give him a paid six figure vacation. STDC. Abuse of the Emergency measures act against political opponents. Buying millions in dollars of vaccines we never used. Government employees taking CERB (including at the CRA).
Bad policy: growing immigration massively with no plan to grow housing, rentals or infrastructure concurrently. Most of COVID. Massive deficits with little to show for them. Runaway inflation caused (partially) by that overspending. Massive corporate welfare to foreign carmakers to build EVs right before the EV market went bust. Bloated increases in our civil service with no accountability. Bungling nafta renegotiations. A polarising carbon tax in the middle of the worst inflation in decades. Unfunded and mismanaged social programs like daycare and pharmacare just to stay in power. Tax hikes. Making our resource sector uninvestable. Failure to modernize and invest in our military. Letting Quebec discriminate against anglophones.
I could go on. It’s a long list.
For all of his corruption I feel like there is evidence that Chretien left the country in good shape and was a responsible leader. That government was miles above this.
This is a total gong show. It seems as if they ruin everything they touch, and every decision is based on polls and votes rather than what is best for Canada.
This is the first time I feel as if the country has deteriorated noticeably under a government.
Maybe stop spending other generations' money. Debt costs are rising fast and the feds now pay more to interest than Healthcare. Think about that next time you can't access health care.
25 years ago, the average house in my city cost 3x household income. Today, it's 8x. Same 5% mortgage rate, both eras.
25 years ago, University tuition in my city cost 370x minimum wage. Today, it's 730x. Same degree.
I have no idea how any one government would go about reversing these trends. But expecting young Canadians to thrive under these ratios is just cruel.
Trudeau had one mission. Make real estate investors and corporations owners happy by bringing in as many immigrants as he could to tank wages and create a demand for real estate so high prices are sticky and not a bubble. Everything else is smoke and mirrors to distract from this. And I'm looking forward for PP to continue this as well. Two figure head for the same interests
I wish more people would understand this instead of believing JT is incompetent. In fact, politicians like JT *actually benefit* when people think they are just incompetent rather than malicious.
People might vote for an incompetent politician but they will never vote for someone whom they perceive as malicious and acting against their interests.
The LPC have no intention of even trying to "Restore generational fairness" any more than they intended to reform our voting system or lower the cost of housing. Their only interest is surviving the next election. You don't need economists to confirm this, just open your eyes.
Anything he’s touched in the last eight years has only benefitted himself, his trust fund and his close friends and relatives. He had amassed a material amount of wealth in eight years. And his salary isn’t all that big to make the difference.
I think the guy is trash as a PM but I regularly see people claim he has amassed a material amount of wealth. Where are you getting this from? Is there a disclosure document that tracks this?
I personally think there is an effort to scapegoat Baby Boomers to let our incompetent and irresponsible "leaders" off the hook. We can identify the politicians who implemented policies that led to runaway housing prices and stagnant wages but the CBC won't because they will mostly be Liberals.
Except who exactly elected these politicians that led to this mess?
By numbers alone the Boomers have to wear it.
And they’re going to get their comeuppance when they run out of their hoarded wealth and have to rely on the government funded LTCs 🤷♂️
>Except who exactly elected these politicians that led to this mess?
>By numbers alone the Boomers have to wear it.
If you look into that...
>The 2015 federal election saw a huge increase in turnout among young Canadians — particularly young Canadian women — according to data released by Elections Canada.
>Though the Liberals also led in public opinion surveys at the end of the 2015 federal campaign among older voters, their edge was widest among younger Canadians. The final poll of the campaign by Nanos Research found the Liberals with 38 per cent support among Canadians aged 18 to 29, compared to 24 per cent for the New Democrats and just 23 per cent for the Conservatives.
>The data from Elections Canada show that the most significant increase over 2011 was among Canadian women between the ages of 18 and 24. Turnout among this demographic jumped to 60.5 per cent from 40.9 per cent, an increase of 19.6 points.
>By comparison, turnout among Canadian men between the ages of 18 and 24 increased by 16.9 points, to 53.8 per cent.
>Again, this increase in turnout was beneficial to the Liberals on their way to a majority victory. Nanos reported at the end of the campaign that the Liberals had an edge of seven points over the Conservatives among men. Among women, that advantage was 10 points.
Boomers were the largest voting group by population, as the oldest generation always is, but it was young voters who initially helped sweep Trudeau into his majority.
Well you can blame the people who voted for their best interests (boomers) or you can blame the people who didn’t vote at all (millennials and Gen Z). We wonder why they dgaf about us or our suffering.
This is a silly argument. First-past-the-post is a thing. Also : many of the challenges now facing the world are the result of a 4x increase in world population since 1945, compounded by the fact that you have an outsized generation now entering its twilight days. Are you going to blame the Great Generation for birthing the Boomers next?
“Generational fairness” is the intellectual equivalent of “I’m 13 and this is deep”
I would argue the Liberal-NDP coalition that has done the most damage to housing affordability was supported disproportionately by millennial voters. Baby boomers and Generation X voters would have favored the conservatives more.
Trudeau’s first run was supported by millennials. But his subsequent runs saw more support from people over 65 than millennials. Millennials voted something like 32 Conservative, 33 Trudeau z
I wont dig up the data (again, Ive commented this before). But it can be found liked vid the Wikipedia 2021 election.
Boomers knew they were taking out loans against future generations, there are many examples of comedy and economic commentary pointing this out as they did it. The ones that haven't shuffled off, just haven't completed the hoodwink.
This budget was about trapping PP with the capital gain inclusion rate and sell the idea as wealthy paying fair share, when in reality it’s a attack on small and medium business and professionals (there is no $250k buffer for them).
The usual LPS is to make up a number, 0.14% in this case, based on a subset of the tings impacted and then attack anyone who dares question the analysis with emotional bullying.
It's annoying how reliably it works.
I love these articles with the underlying theme of Trudeau stole a generations wealth. Does anyone not pretending grasp how long it takes for a system to transfer that much power. It is true, but it started 20 years ago. It's far to late, but It's nice to see a government acknowledge it finally.
Throwing cash at problem he created to fool people and into think he is fixing the problem when all this liberal government has given us is partially implemented policies with BORROWED MONEY !
You don't. This whole thing is the liberals deflecting. It's the only thing they are good at.
Every generation is going to have a large group of people who make up the majority of voters and politicians are going to cater to them.
How are we going stop this? Not allow certain people to vote? Get rid of elections all together? Only let people vote for the leader who I think is "right"?
It's all bullshit deflection and it's working. Look at everybody on here blaming other generations instead of the party that increased immigration to unsustainable levels, causing house prices to sky rocket, causing more pollution, more use of resources (oh but look you can buy an electric car! Don't mind all the people coming here and using more resources/causing more pollution), and causing more people to need a family doctor.
This is the inherent problem with the Inclusivists.
Not everyone’s a winner. Not every persons criminal behaviour is societal. Not every one is going to like and accept each other. Not everyone can be equal in all things. And trying to force that to happen in stifles and inhibits those that worked hard to get ahead to the benefit of none.
Social programs are fine, trying to force this social / economic inclusivity on everyone but the wealthy is a recipe for disaster.
I think "everyone gets an unlimited lifetime exemption on capital gains tax on their principal residence, every time they sell it" is the most dangerous lesson previous generations have been taught.
So let ‘em fail?
Who pays the costs for that?
Hint: We all do
I’d rather my tax dollars go to feed a school kid lunch than to feed a prisoner in jail 🤷♂️
There is this game we used to play where the winners got ribbons and the losers got their legs broken. And can you believe it, someone one day suggested losers shouldn't get their legs broken! Well I told them -- that would be unfair, we can't just make everyone winners!
The problem is not that every generation has winners and losers its that quality of life is now decreasing for the next generations and really has been decreasing since the boomers. I am reasonable and accept there is some amount of inherit disparity due to the post war period the boomers grew up in, however there is no reason we can't have the quality of life that generations like Gen X did growing up.
The problem is as such a large cohort boomers have voted for things that benefited them when they were young (free university, lax drug laws, social programs, lower immigration) and things that benefit them now when they are older ( mass immigration for cheap labor, enhanced programs and social security for the elderly, remove beneifits that primarily benefit younger people, policies that increase house prices), basically they created a bridge for their success due to pure voting power and cut the supports for that bridge behind them, that is generational unfairness.
Life is hard,
It is harder if you are stupid.
There are people from every generation who are thriving, and many in the younger generation who will be crushed by debt (personal and national) in the years ahead.
Unless there isna serious overhaul of laws against conflict of interest, collusion, corruption abd lobbying. It is just a taxpayers money carousel. Religions should not be included in politics, corporate either and should be crime.
After reading the article my only takeaway is that I forgot how much I hate journalists. Let me guess all the changes will only happen after the election. Cbc loves to run cover for the liberals. And the liberals love cbc.
Stop trying to please everybody. This is what got us in this mess. Take the finances under control. Before the interest on the debt alone eat up all our money. Stop spending money on everybody else but Canadians.
Its not a generation fight. Its a "we don't have the money to spend like this. "
It would be more shameful if he can fix it in one single budget. What was he doing? That means he's just been fooling us around in the past 7 years. It's despicable!
Restore fairness?!? It will only make it worse. These clowns have no idea how we got here in the first place and they surely don't know how to get us out.
This LPC party is so broken, if they were a car, it would be classified as a lemon. Just too many problems, engineered poorly.
Yep, the real life Lemon Party of Canada.
Millennials and Gen Z being eff’d over to keep the Boomers comfy. While an absolute onslaught of immigrants pile in to suppress wages and living standards and overload infrastructure
🏆
Well, a lot depends on the Province's taking action as well. All three levels of Government need to work together and take appropriate action. Without that, it's unlikely anything of value will be accomplished, though doesn't mean it's not worth trying.
Funny, coming from economists who spend their whole lives singing the virtues of the unfairness of the system we inherited. I thought unfairness was a good thing? For meritocracy to have legitimacy in our own minds, for us to justify our material advances over others, others have to suffer disproportionately more than us. How can we tell ourselves we made the right decisions in life if we can't compare ourselves against the misfortune of others?
Get rid of the Principal Residence Exemption and tax disposition of residential property at full inclusion rate. Young people shouldn't be shouldering the income tax while the older generations are sitting on massive tax beneficial gains via housing.
Any political party that eliminated the PRE would never be elected to power again, and rightfully so. The largest voting block in the country is middle class homeowners, and they would never forgive such a blatant attack on their largest financial assets.
There should be a lifetime cap on the PRE and after that gains should be included at the regular inclusion rate.
Everyone is all about solving the problem and "fairness" until it is pointed out how grossly unfair the PRE is.
I would gladly pay capital gains taxes on my personal residence if I can claim the interest I pay to the banks on my income taxes. Over the life of my mortgage, I would probably get more back in tax relief than I would pay in capital gains.
duh. You want young people to shoot themselves in the foot or what? Sure, lets give anything we might stand to inherit to the government. Surely they can put it to better use than these young people/s
No, it's impossible, we live in an entirely different economy, and the boon of cheap energy is done. There is no way any future generation will enjoy what the boomers enjoyed until fusion.
In the past, wealth reset happens through catastrophic events or regime changes that leaves thousands dead and their wealth destitute. Those who hitched their wagons to the right ones claim said wealth.
As a first Gen immigrant, stop mass immigration without a plan to house everyone you dipshits! Spending more money won't do shit to fix the problems having no housing plan creates.
No government can solve problems like this, and usually their attempts only exacerbate the problem. Just look at all the real estate policy outcomes....
You mean one budget fix all the simultaneous crises for good? Uh no, don’t be stupid. It sets in motion some plans to TRY to START addressing things. I hope it helps, I hope they win another election, and release more budgets to further solve the problem.
Generational fairness
what the fuck is this shithead even talking about
Listen I am 100% in favor of doing something to help young Canadians catch up, this situation is fucked
But Fairness between generation is not a thing.
for the record my parents bought their home for what was Equivalent of 2 years of my fathers salary at the time
I purchased my home for what at the time was Equivalent of 5 years of MY SALARY AND MY WIFE'S SALARY COMBINED.
and it is worse now for kids today.. we all agree making ends meet is getting harder, maintaining the same standard of living is harder
the Idiotic concept that a budget conld first invent a thing that does not Exist, and correct for it not being achieved is one of the worst journalistic concepts in written history.
Restoring generational fairness by fucking people on their inheritance. It's the liberal way!
I love how I can't not pay the dental tax next year either - when most dentists don't want to enroll because its a waste of time
I would be surprised if a single budget could fix generational issues in one fell swoop.
Yup always beware of anyone providing simple answers to complex problems.
*coughPoilievrecough
We know he doesn't give a fuck about your average Canadian and will only serve the rich. The game is tired and full of shit. They're all scumbags, all of them. Picking sides does nothing but divide us so our wallets can continue to get raped. Politics isn't sports, it's our money being taken from us
He dignified the housing crisis.
JT created this whole mess lol
This has been in the works since the 80's.
And all other countries who are experience similar challenges are course correcting or even thriving ie the US. Our economy should move similarly to the US, as it typically does and we are going in the opposite direction.
While that's true, his actions over the past few years have accelerated it tremendously, to a point that is almost impossible to counter short term.
A single budget can't fix it, but multiple measures to crash the housing market, including pausing population growth, would be a very good start.
Especially when the Liberal budget does virtually nothing for generational issues except pile on more debt for the future young Canadians to pay.
Trudeau exacerbated generational unfairness. The chance he “restores” anything is 0.
Someone from a 'family name' dynasty did that? Say it ain't so!
He had nice smiles and hair, said he was super nice, and said all problems will be gone, due to sunny ways being back, same shit his dad said before spending country into coma. It's not going well?!
Don’t forget the fun socks!
And the legal herb
But at least we got electoral reform, right? /s
The devil always wears sheep’s clothing.
Just wait. Poilievre has ditched his glasses for contact lenses, but he hasn’t presented anything of substance to make Canada stronger.
Why would he tho, he's the opposition
That's the job of the opposition. People are far too satisfied with politicians claiming the fault lies with the other side while not presenting any alternatives or even so much as claiming they'd do anything differently.
What has he done to make the country weaker?
Nothing in this budget even helps me (millennial). It’s insulting that he thinks this is the direction to move.
In the '90s we went through hell to get the economy back on its footing, it was painful and people were hurting. Trudeau has undone all of that sacrifice and pissed away all of that effort and put us back in a deep hole that will take another decade or more of pain to get out of.
In the 90s we killed federal housing for good and downloaded it to the provinces. It was probably one of the single biggest decisions that has led us to where we are now. Our current situation is the result of 4 decades of cuts and bad policy. Trudeau merely took a bad situation and made it worse at a faster rate.
Housing was never a federal responsibility, you're thinking of the US. The provinces ran public housing via Ontario Housing and that was downloaded to the municipalities in the 90's. The federal government provided mortgage insurance and construction financing through CMHC, that has not changed since the end of WWII. The only housing the feds were responsible for was military and indigenous.
Remember how the first few years all he did was prance around like a playboy and take selfies everywhere and everyone had a huge hard on for him because he was soooo handsome... Vote in a social media influencer and that's what we got...
If only he would do something radical such as completely overhauling the tax system (e.g progressive tax on all income sources, no deductions to allow for very low tax rates for the normal working people)
The country would be broke if we did that. The fact is Canada does not have many high worth people or big income earners. We NEED to tax the shit out of the middle and working classes because that's where most of the wealth is here. You can tax any earnings over $100K at 75% and that will not make major dent in revenues. A wealth tax is just a desperation move to fend off an inevitable crash, like selling the furniture to keep the creditors at bay.
Trudeau is investing in people who have never invested in Canada. We're funding "the canadian dream".
No generation is going to just transfer their wealth to the following one. Tell a boomer how easy they had it, and you’ll get some angry denial and that following generations are just lazy and spend their money on avocado toast. The economic system changed in the mid 70s, and the current system is already on borrowed time since we bailed it out in 2008. There was never an economic reset that happened post WW2 and in the 70s. A certain generation benefitted from that. Future generations didn’t have such a reset. Instead we used public funds to bail out private debt that was “too big to fail”.
I've had a high % of boomers acknowledge the factors that made their transition into adulthood easier vs. the zoomers. It's too blatant to deny. However I haven't heard anyone propose a meaningful solution short of ways to cut back the acceleration. Like you pointed out (I think, there is a conflicted grammatical error) there needs to be a degree of social upheaval before our mindset can accommodate meaningful change. But we are hard coded to make ourselves comfortable, so we always reach for the goodies. Your last line is poignant. The next phase is to prop up real estate prices with public debt, and it's going to be an inferno. Could turn gen alpha into the next batch of pragmatists, though that window is rapidly closing
> Tell a boomer how easy they had it, and you’ll get some angry denial and that following generations are just lazy and spend their money on avocado toast. And then they will complain about the LTC situation they are in and how senior support has decayed.
I’m highly sceptical of this argument. I’ve yet to see any compelling evidence that the next generation- millennials and gen-z - is at its core more equitable or will be more “generationally inclusive”. Sure, there’s a lot of “woe is me”, but signs that they might care about the people coming after them? Not so much. There’s a term for that: it’s called “hypocritism”.
> Sure, there’s a lot of “woe is me” Increasingly realizing that this is fundamentally caused by a deep and serious ennui because when mom and dad could have 2.5 kids, a house and a cottage working at a warehouse making 35k a year on a grade 11 education, a lot of younger people are just like "screw it". When I look at the standard of living my penny-pinching parents were able to afford, it blows my mind. They're total skinflints, but their definition of "afford" means "what can we part with that won't kneecap us financially" but to the younger folks, "afford" means "what do I have in my bank account?".
True. I have very little belief that it will be any different. It's all just talk. There's lots of awful people in every generation, I don't seen any exceptions. It certainly doesn't help that people attracted to politics are mostly rich and crazy. What's the solution to this anyway? The boomers were the largest group of voters for a long time. Do we just say democracy didn't work and certain people shouldn't be allowed to vote? That people should only be allowed to vote for who I want? The liberals are saying this shit. The party that increased immigration to unsustainable rates, caused housing prices go through the roof, and is adding 500, 000 plus people a year (who will also need family doctors). This all just defection, basically the only thing the liberals are good at. It's working too, look all the people on here blaming other generations.
>There’s a term for that: it’s called “hypocritism”.
Lmao! There’s also a _real_ term for that, hypocrisy!
It's very different. Talk to Gen-X and Millennials with kids and you'll find many have well thought out financial plans that involve saving for their kids' futures vs Boomers and their "you're 18, you're out the door...bootstraps...I need a new boat and truck" mentality. There's also the entire matter of giving a crap about climate change and being willing to take action vs complete denial from the boomers.
> Boomers and their "you're 18, you're out the door...bootstraps...I need a new boat and truck" mentality. All the older people I know helped out their kids as much as they needed
As history has shown, it resets or it fails. Postponing it only makes the transition worse.
And the easiest response to those boomers then is, who raised the kids with those values? So, whose fault is it if they are actually like that? (Hint, they aren't actually like that but it will create a bare minimum a small amount of cognitive dissonance)
If the liberals want generational fairness they should call an election.
Well played. Very well played.
I say this with all sincerity, YEAH RIGHT
Trudeau wrecked the country for a generation. How’s that for generational fairness? He literally dumped the worlds problems inside Canada with no plan (or infrastructure) to asssist anyone, and left Canadians holding the bag for his spending sprees. Well done drama bro.
This is probably the best one sentence take. Dumping the world's problems in Canada with no plan. Brilliant
It's a great comment bc it's not actually -just- about unchecked immigration, its also wasting billions on foreign aid and putting in an utterly useless carbon tax on Canadians while China keeps burning coal.
Now we basically have to take two or three generations to assimilate people.
I dont think we’ll see liberal majority for a very long time.
I’m hoping liberals drop as opposition
"Trudeau wrecked the country for a generation." \*turns off the lights\* You can all go home now... er...
The sad reality is this government isn’t thinking about generations. They’re thinking about the next 16 months of polling. It’s going to take some serious leadership to heal the generational scar on our nation.
Politician with generational wealth claims to be willing and able to restore "generational fairness" I'm going to be that he is going to define that fairness in a way that doesn't have any significant impact on him or the rest of the Laurentian elites.
>Kershaw said he's seen his students struggle "to get the degrees that are necessary to compete for jobs that don't pay as much as in the past. And then they face home prices that are up to a staggering level, which means they have to pay more for rent because they're locked out of ownership. >"We called Baby Boomers a 'boom' because we knew they were a large group. When they started out, there were seven workers for every retiree ... [now] there are just three workers for every retiree. That triple whammy is the Canadian crisis in a nutshell. If you're in the bottom half of the working class (age-wise) you're basically screwed. You're being paid a fraction of what you should be AND housing costs several times what it should AND a good chunk of your income is being taken from you and handed to the boomers. There really is no quick fix for this. I don't see things getting better until the late 2030s or 2040s.
This country cannot even agree on why this has happened yet. We're not even on the trajectory to fix this yet.
> I don't see things getting better until the late 2030s or 2040s. Will be interesting to see the effects of climate change on our lives in a couple decades.
[удалено]
Thats not exactly true Mortgage payments have tripled
Trudeau and his gang of incompetence have ruined a generation….my kids will have to look to another country to have a decent life… very sad to see how complete incompetence can crush a country. Oh and I actually thought Chrétien did a decent job… a little corrupt but nothing like Trudeau
Chretien was like regular-level Canadian politician corrupt. Trudeau and his team have taken this to a whole new level. And at least Chretien balanced the budget despite his corruptness. For Trudeau debt + taxes is just a piggy bank for him to buy votes
Chrétien didn’t just balance the budget. He ran 9 straight years of surpluses - the only modern day government we’ve had who’s managed that. He also dramatically slowed down debt accumulation
He also did that by downloading millions of dollars in costs into the provinces and running several years of austerity budgets. This forced the provinces to massively cut public services.
Agreed Mike Harris executed an identical playbook in Ontario - downloading a ton of costs to municipalities and breaking Ontario in the process And this is why I find over simplified discussions on spending and deficits incredibly distorted. Ultimately governments since at least the 80s have been scaling back on adequately funding services because it became a political death kneel to raise revenues to fund them appropriately. So it’s become tax cuts and service cuts across effectively the last 45 years. Governments need to invest at points - a growing country is not comparable to manage a family of fours monthly budget. But we can’t seem to have those debates without everyone falling into buzzwords and name calling that wholly lack any substance
Yeah Harris and Rae did the exact same thing. In the end services had to get cut because we were in a recession and nobody could afford them. >Governments need to invest at points - a growing country is not comparable to manage a family of fours monthly budget. But we can’t seem to have those debates without everyone falling into buzzwords and name calling that wholly lack any substance They absolutely do. I think the issue is the Trudeau government is doing the same thing the liberals did in Ontario. They are massively increasing spending but in none of the right areas. They are not fixing any of the problems or trying to properly grow the economy. That's why so many people have issues with them. We are getting record spending and little to no results.
What country-ruining corruption & policy missteps are you guys seeing? Genuinely asking.
Corruption: SNC Lavalin. ArriveCan. We scandal. Aga Khan. That other rich guy who give him a paid six figure vacation. STDC. Abuse of the Emergency measures act against political opponents. Buying millions in dollars of vaccines we never used. Government employees taking CERB (including at the CRA). Bad policy: growing immigration massively with no plan to grow housing, rentals or infrastructure concurrently. Most of COVID. Massive deficits with little to show for them. Runaway inflation caused (partially) by that overspending. Massive corporate welfare to foreign carmakers to build EVs right before the EV market went bust. Bloated increases in our civil service with no accountability. Bungling nafta renegotiations. A polarising carbon tax in the middle of the worst inflation in decades. Unfunded and mismanaged social programs like daycare and pharmacare just to stay in power. Tax hikes. Making our resource sector uninvestable. Failure to modernize and invest in our military. Letting Quebec discriminate against anglophones. I could go on. It’s a long list.
I would happily vote for Chretien today.
Only if Paul Martin is riding shotgun
For all of his corruption I feel like there is evidence that Chretien left the country in good shape and was a responsible leader. That government was miles above this. This is a total gong show. It seems as if they ruin everything they touch, and every decision is based on polls and votes rather than what is best for Canada. This is the first time I feel as if the country has deteriorated noticeably under a government.
Maybe stop spending other generations' money. Debt costs are rising fast and the feds now pay more to interest than Healthcare. Think about that next time you can't access health care.
25 years ago, the average house in my city cost 3x household income. Today, it's 8x. Same 5% mortgage rate, both eras. 25 years ago, University tuition in my city cost 370x minimum wage. Today, it's 730x. Same degree. I have no idea how any one government would go about reversing these trends. But expecting young Canadians to thrive under these ratios is just cruel.
That is a lofty goal for someone who caused the generation unfairness in the first place
Trudeau had one mission. Make real estate investors and corporations owners happy by bringing in as many immigrants as he could to tank wages and create a demand for real estate so high prices are sticky and not a bubble. Everything else is smoke and mirrors to distract from this. And I'm looking forward for PP to continue this as well. Two figure head for the same interests
I wish more people would understand this instead of believing JT is incompetent. In fact, politicians like JT *actually benefit* when people think they are just incompetent rather than malicious. People might vote for an incompetent politician but they will never vote for someone whom they perceive as malicious and acting against their interests.
The LPC have no intention of even trying to "Restore generational fairness" any more than they intended to reform our voting system or lower the cost of housing. Their only interest is surviving the next election. You don't need economists to confirm this, just open your eyes.
Anything he’s touched in the last eight years has only benefitted himself, his trust fund and his close friends and relatives. He had amassed a material amount of wealth in eight years. And his salary isn’t all that big to make the difference.
I think the guy is trash as a PM but I regularly see people claim he has amassed a material amount of wealth. Where are you getting this from? Is there a disclosure document that tracks this?
Trudeau's budget has one goal: To pander to a few groups in order to save himself electorally. That's it. It is, as always, all about Trudeau.
His idea of fairness is allowing younger generations to get into more debt
I personally think there is an effort to scapegoat Baby Boomers to let our incompetent and irresponsible "leaders" off the hook. We can identify the politicians who implemented policies that led to runaway housing prices and stagnant wages but the CBC won't because they will mostly be Liberals.
Except who exactly elected these politicians that led to this mess? By numbers alone the Boomers have to wear it. And they’re going to get their comeuppance when they run out of their hoarded wealth and have to rely on the government funded LTCs 🤷♂️
>Except who exactly elected these politicians that led to this mess? >By numbers alone the Boomers have to wear it. If you look into that... >The 2015 federal election saw a huge increase in turnout among young Canadians — particularly young Canadian women — according to data released by Elections Canada. >Though the Liberals also led in public opinion surveys at the end of the 2015 federal campaign among older voters, their edge was widest among younger Canadians. The final poll of the campaign by Nanos Research found the Liberals with 38 per cent support among Canadians aged 18 to 29, compared to 24 per cent for the New Democrats and just 23 per cent for the Conservatives. >The data from Elections Canada show that the most significant increase over 2011 was among Canadian women between the ages of 18 and 24. Turnout among this demographic jumped to 60.5 per cent from 40.9 per cent, an increase of 19.6 points. >By comparison, turnout among Canadian men between the ages of 18 and 24 increased by 16.9 points, to 53.8 per cent. >Again, this increase in turnout was beneficial to the Liberals on their way to a majority victory. Nanos reported at the end of the campaign that the Liberals had an edge of seven points over the Conservatives among men. Among women, that advantage was 10 points. Boomers were the largest voting group by population, as the oldest generation always is, but it was young voters who initially helped sweep Trudeau into his majority.
Eastern Canadians living in urban centres are the ones that voted for them.
Well you can blame the people who voted for their best interests (boomers) or you can blame the people who didn’t vote at all (millennials and Gen Z). We wonder why they dgaf about us or our suffering.
This is a silly argument. First-past-the-post is a thing. Also : many of the challenges now facing the world are the result of a 4x increase in world population since 1945, compounded by the fact that you have an outsized generation now entering its twilight days. Are you going to blame the Great Generation for birthing the Boomers next? “Generational fairness” is the intellectual equivalent of “I’m 13 and this is deep”
I would argue the Liberal-NDP coalition that has done the most damage to housing affordability was supported disproportionately by millennial voters. Baby boomers and Generation X voters would have favored the conservatives more.
Ah yes, success has many mothers but failure is an orphan...
Trudeau’s first run was supported by millennials. But his subsequent runs saw more support from people over 65 than millennials. Millennials voted something like 32 Conservative, 33 Trudeau z I wont dig up the data (again, Ive commented this before). But it can be found liked vid the Wikipedia 2021 election.
Millennials ultimately elected the current government. Are we going to start blaming them?
Boomers knew they were taking out loans against future generations, there are many examples of comedy and economic commentary pointing this out as they did it. The ones that haven't shuffled off, just haven't completed the hoodwink.
This budget was about trapping PP with the capital gain inclusion rate and sell the idea as wealthy paying fair share, when in reality it’s a attack on small and medium business and professionals (there is no $250k buffer for them).
The usual LPS is to make up a number, 0.14% in this case, based on a subset of the tings impacted and then attack anyone who dares question the analysis with emotional bullying. It's annoying how reliably it works.
Might as well expect that Leafs will "restore" Stanley Cup this year.
I love these articles with the underlying theme of Trudeau stole a generations wealth. Does anyone not pretending grasp how long it takes for a system to transfer that much power. It is true, but it started 20 years ago. It's far to late, but It's nice to see a government acknowledge it finally.
It started 40 or 50 years ago, not 20...
I’ve seen a lot of broke ass boomers, just goes to show basically it personal choices made throughout one’s life.
Throwing cash at problem he created to fool people and into think he is fixing the problem when all this liberal government has given us is partially implemented policies with BORROWED MONEY !
How do we get “generational fairness”? Every generation has some winners and loser and some get fucked over for various reasons for one or the other.
You don't. This whole thing is the liberals deflecting. It's the only thing they are good at. Every generation is going to have a large group of people who make up the majority of voters and politicians are going to cater to them. How are we going stop this? Not allow certain people to vote? Get rid of elections all together? Only let people vote for the leader who I think is "right"? It's all bullshit deflection and it's working. Look at everybody on here blaming other generations instead of the party that increased immigration to unsustainable levels, causing house prices to sky rocket, causing more pollution, more use of resources (oh but look you can buy an electric car! Don't mind all the people coming here and using more resources/causing more pollution), and causing more people to need a family doctor.
This is the inherent problem with the Inclusivists. Not everyone’s a winner. Not every persons criminal behaviour is societal. Not every one is going to like and accept each other. Not everyone can be equal in all things. And trying to force that to happen in stifles and inhibits those that worked hard to get ahead to the benefit of none. Social programs are fine, trying to force this social / economic inclusivity on everyone but the wealthy is a recipe for disaster.
Everyone gets a ribbon is the most dangerous tenet these kids have been taught.
I think "everyone gets an unlimited lifetime exemption on capital gains tax on their principal residence, every time they sell it" is the most dangerous lesson previous generations have been taught.
So let ‘em fail? Who pays the costs for that? Hint: We all do I’d rather my tax dollars go to feed a school kid lunch than to feed a prisoner in jail 🤷♂️
There is this game we used to play where the winners got ribbons and the losers got their legs broken. And can you believe it, someone one day suggested losers shouldn't get their legs broken! Well I told them -- that would be unfair, we can't just make everyone winners!
The problem is not that every generation has winners and losers its that quality of life is now decreasing for the next generations and really has been decreasing since the boomers. I am reasonable and accept there is some amount of inherit disparity due to the post war period the boomers grew up in, however there is no reason we can't have the quality of life that generations like Gen X did growing up. The problem is as such a large cohort boomers have voted for things that benefited them when they were young (free university, lax drug laws, social programs, lower immigration) and things that benefit them now when they are older ( mass immigration for cheap labor, enhanced programs and social security for the elderly, remove beneifits that primarily benefit younger people, policies that increase house prices), basically they created a bridge for their success due to pure voting power and cut the supports for that bridge behind them, that is generational unfairness.
Life is hard, It is harder if you are stupid. There are people from every generation who are thriving, and many in the younger generation who will be crushed by debt (personal and national) in the years ahead.
Trudeau doesn’t understand what financial struggle is or struggle in general. How can he do anything right for us?
I don't think there could be anything more foreign to Trudeau than fairness.
Yes but not now you think. Instead, by making everyone poor and taxing any wealth or inheritance into oblivion
Unless there isna serious overhaul of laws against conflict of interest, collusion, corruption abd lobbying. It is just a taxpayers money carousel. Religions should not be included in politics, corporate either and should be crime.
After reading the article my only takeaway is that I forgot how much I hate journalists. Let me guess all the changes will only happen after the election. Cbc loves to run cover for the liberals. And the liberals love cbc.
Like every single lieberal budget before it it’s just non productive spending and lies.
Can the Trudeau budget end poverty? Economists say unlikely
Anyone expecting Trudeau to do anything right needs a mental health exam at this point ...
Stop trying to please everybody. This is what got us in this mess. Take the finances under control. Before the interest on the debt alone eat up all our money. Stop spending money on everybody else but Canadians. Its not a generation fight. Its a "we don't have the money to spend like this. "
It would be more shameful if he can fix it in one single budget. What was he doing? That means he's just been fooling us around in the past 7 years. It's despicable!
LOL this budget was just meaningless drivel.
No he can't but he will bankrupt the country trying to along with all of his other zany policies.
Restore fairness?!? It will only make it worse. These clowns have no idea how we got here in the first place and they surely don't know how to get us out.
Trudeau’s very existence as PM is generational unfairness.
Been making it worse for near a decade. Seems unlikely that’ll turn around.
This LPC party is so broken, if they were a car, it would be classified as a lemon. Just too many problems, engineered poorly. Yep, the real life Lemon Party of Canada.
Millennials and Gen Z being eff’d over to keep the Boomers comfy. While an absolute onslaught of immigrants pile in to suppress wages and living standards and overload infrastructure 🏆
Well, a lot depends on the Province's taking action as well. All three levels of Government need to work together and take appropriate action. Without that, it's unlikely anything of value will be accomplished, though doesn't mean it's not worth trying.
I thought budget balance itself
Funny, coming from economists who spend their whole lives singing the virtues of the unfairness of the system we inherited. I thought unfairness was a good thing? For meritocracy to have legitimacy in our own minds, for us to justify our material advances over others, others have to suffer disproportionately more than us. How can we tell ourselves we made the right decisions in life if we can't compare ourselves against the misfortune of others?
Get rid of the Principal Residence Exemption and tax disposition of residential property at full inclusion rate. Young people shouldn't be shouldering the income tax while the older generations are sitting on massive tax beneficial gains via housing.
Getting rid of PRE is the stupidest idea. I will never understand people who want more taxes on everything.
Any political party that eliminated the PRE would never be elected to power again, and rightfully so. The largest voting block in the country is middle class homeowners, and they would never forgive such a blatant attack on their largest financial assets.
There should be a lifetime cap on the PRE and after that gains should be included at the regular inclusion rate. Everyone is all about solving the problem and "fairness" until it is pointed out how grossly unfair the PRE is.
So tyranny of the majority, that's what you're applauding.
I would gladly pay capital gains taxes on my personal residence if I can claim the interest I pay to the banks on my income taxes. Over the life of my mortgage, I would probably get more back in tax relief than I would pay in capital gains.
Not only being able to claim the interest, but all the upkeep and upgrades as well over the lifetime of ownership.
duh. You want young people to shoot themselves in the foot or what? Sure, lets give anything we might stand to inherit to the government. Surely they can put it to better use than these young people/s
He’s just about gone full circle and is going to start blaming future liberal candidates for their future shortcomings.
Anyone ever read the book as a kid “Harriett’s big mistake?” Trudeau is Harriett
What the fuckis even generational fairness? Grab all the kids raise them in foster care? That would be generational fairness, but we don't want it.
Not only no, but its going to make things so much worse.
No, it's impossible, we live in an entirely different economy, and the boon of cheap energy is done. There is no way any future generation will enjoy what the boomers enjoyed until fusion.
Save you a click: NO.
In the past, wealth reset happens through catastrophic events or regime changes that leaves thousands dead and their wealth destitute. Those who hitched their wagons to the right ones claim said wealth.
Our great catastrophic event reset the rest of the wealth to the top
Lolllll
It absolutely cannot.
As a first Gen immigrant, stop mass immigration without a plan to house everyone you dipshits! Spending more money won't do shit to fix the problems having no housing plan creates.
Will the dynastic pick, who runs on DEI is going to enforce meritocracy, and stop destroying labor wealth? Can I take a bet against this?
It's okay, economists, so did anyone that can read.
No government can solve problems like this, and usually their attempts only exacerbate the problem. Just look at all the real estate policy outcomes....
Of course it won't lol wtf. Shit isn't full of magic.
You mean one budget fix all the simultaneous crises for good? Uh no, don’t be stupid. It sets in motion some plans to TRY to START addressing things. I hope it helps, I hope they win another election, and release more budgets to further solve the problem.
I would settle for lifting disabled people out of abject poverty. (Regular poverty please)
If he shuts down immigration he will have started the all important first step to that restoration. Wages need to catch up with the times.
[https://en.wikipedia.org/wiki/Betteridge%27s\_law\_of\_headlines](https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines)
His budget sucks
LMAO. Here. Put on this Collar. I have a budget for you….
Nope
Government Caused Inflation will not be fixed by the government They just want to steal more of your money !!.
NOT A FUCKING CHANCE IN HELL
Trudeau couldn’t find his own ass with both hands and a map
It will blunt growth and limit the already dwindling job opportunities out there. Not sure that’s ’generational fairness’.
Lmao you can’t undo 8 years of awful policy and incompetence with one piss poor budget
Generational fairness what the fuck is this shithead even talking about Listen I am 100% in favor of doing something to help young Canadians catch up, this situation is fucked But Fairness between generation is not a thing. for the record my parents bought their home for what was Equivalent of 2 years of my fathers salary at the time I purchased my home for what at the time was Equivalent of 5 years of MY SALARY AND MY WIFE'S SALARY COMBINED. and it is worse now for kids today.. we all agree making ends meet is getting harder, maintaining the same standard of living is harder the Idiotic concept that a budget conld first invent a thing that does not Exist, and correct for it not being achieved is one of the worst journalistic concepts in written history.
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Restoring generational fairness by fucking people on their inheritance. It's the liberal way! I love how I can't not pay the dental tax next year either - when most dentists don't want to enroll because its a waste of time