WhatFinger


Perhaps Mr. Trudeau should refrain from eating the rich during his time in power, because, in the end, the poor will be the only ones who will starve

Flight of the capital



Justin Trudeau is not a particularly imposing or threatening individual. However, as he continues to roll out his infantile envy-based tax plans and monetary policies, shockwaves are likely to be sent through the economic soul of Canada, while investors start packing their bags and fleeing for their lives. Mr. Trudeau spent the better part of the last two years lamenting the decline of the Canadian middle class and the supposed income inequality that engulfs the frigid North. Over caviar and French vodka with Chrystia Freeland, he drafted a platform based on the fundamentals of class warfare, a populist policy piece designed to selectively punish economic success. According to Justin, successful Canadians are nothing more than greedy exploiters, determined to stash their wealth and contribute nothing to society. He should know best – his father inherited millions and passed it all down to his children, using every loophole and tax haven at his disposal.

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What Mr. Trudeau fails to note is just how much the pie has grown. Under the Harper government, the Canadian economy grew by over half a trillion dollars, while median income climbed by nearly 20 percent. The signing of free trade deals has opened markets for Canadian producers, and the recent achievement of a balanced budget bolstered Canada’s impeccable credit reputation. Yes, the top 10% of earners take home more than a third of income, but the top 5% of Canadian workers provide nearly 60% of all tax revenues. With maximum provincial and federal rates totaling up to 50% in some regions, Prime Minister Harper tried to liberalize the Canadian economy overall, and stop the insatiable growth of government and taxes from becoming an inherent part of Canada’s political culture. Such sensible thought has now been done away with, for Mr. Trudeau is determined to turn the sacred and painful duty of revenue collection and commerce regulation into a drug addiction. Billions of dollars in new spending may quell the complaints of the CBC in the short term, but in a volatile global environment, the damage he initiates could be irreparable for the next generation. Mr. Trudeau may give the trademark family shrug and hedge his bets – after all, with billions in surpluses and a great credit rating, why not tax and spend? Such a Keynesian experiment will be short lived, because the wealthy will stash their capital abroad and spend fortunes evading full taxation; something that, as history shows, will not be hard to do in a Liberal administration. Instead, small and middle-sized businesses will pay the price, as will our most vulnerable citizens, those who rely on the revenues of the private sector. Perhaps rather than scaring away investors and strangling enterprise, our new government should begin the arduous procedure of finding innovative, market-oriented ways to empower everyone. Perhaps Mr. Trudeau should refrain from eating the rich during his time in power, because, in the end, the poor will be the only ones who will starve.


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Avik Jain -- Bio and Archives

Avik Jain is a student of History at McGill University. He loves running, shooting hoops, and reading. Aspiration: Speechwriter


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