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Government Budget Deficits? Immigrate to US?


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Anyone worried about how Canada / Provinces will be increasing taxes in the near future to fund these government deficits? 

Our generation is already on the hook for a disproportionate amount of the government budget deficits.  I can't be the only one worried about this. Anyone else considering the move to the US?

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  • MonkeyDLuffy changed the title to Government Budget Deficits? Immigrate to US?
15 minutes ago, MonkeyDLuffy said:

Anyone worried about how Canada / Provinces will be increasing taxes in the near future to fund these government deficits? 

Our generation is already on the hook for a disproportionate amount of the government budget deficits.  I can't be the only one worried about this. Anyone else considering the move to the US?

Countries across the world have racked up massive amounts of debt to fund coronavirus relief programs. The US government has unleashed trillion dollar relief programs, and lots of rich countries in Europe have followed suit. It is not a problem unique to Canada.

I do agree with you we will bear the brunt of this over several generations. Taxes will have to rise to compensate for this.

 

 

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  • 3 weeks later...

Taxes won't rise, that's too obvious to people's eyes.

Why take the effort to collect taxes when you can just add zeros on a computer screen.

Inflation will rise, aka real interest rate will go negative. Aka stagflation.

Pretty convenient CPI doesn't include housing and stock prices lol.

The old dogma about taxes is already thrown out, here comes MMT.

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That's why BTC and asset prices are like little rockets.

They actually have an upper limit, like BTC at least has a 21Mil upper limit. Houses is limited by available land at that location.

the amount of dollars government can create is only limited by how many zeros they can add, aka how wide their computer screen is.

If you go to Japan you're instantly ¥ millionaire lol, but remember if you buy something it costs a few thousand ¥ too.

 

 

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If anyone is doubting whether inflation will rise or not, just read this:

https://financialpost.com/news/economy/inflation-fears-take-back-seat-as-bank-of-canada-turns-focus-on-jobs-recovery

Basically they'll let the economy run "hot", aka euphemism for trading inflation with higher employment. 

Basically everyone's buying power is going down, interest rate will stay low, asset prices will skyrocket.

Government debt will slowly disappear because of inflation.

Everyone will have a job, it's just you won't make enough to pay for stuff that are getting more expensive (look for real estate to jump 10-15% Y/Y).

Did I mention statscan got caught red handed manipulating CPI to hide the higher than expected CPI: https://www.bloomberg.com/news/articles/2021-02-22/canada-hastily-revises-core-inflation-on-methodology-concerns

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