It’s not how much you make but how much you keep
I am careful to contemplate that at Halloween, the notion of trick or treat may be going through your minds as you read this article. If you have been watching the news lately and especially the performance of our Prime Minister and his government, his carbon tax strategy truly is a “Trick” (it is not a tax on carbon, it is a price on pollution) and his “Treat” is to take your money, then give it back to you as a rebate.
We have a government that is oblivious to what matters most to the average Canadian. They believe the three main concerns to all Canadians are:
- Carbon Tax
- Gender neutrality
- Aboriginal rights
These are valid concerns and issues that need to be explored and addressed respectfully but I feel the three top concerns for Canadians are:
- The Economy
- Healthcare
- Taxes
A recent study by the Fraser Institute in Ontario, that government sector employees earn 10.6% more than private sector employees for similar work.[1] They retire 1.8 years before private sector employees, take 5 more personal days off work a year, 5 times less likely to be laid off, and 7 times more likely to have guaranteed pensions for life.
The government just released its 2017 / 2018 fall annual financial report that states it increased revenue by a whopping $20 billion over targets thanks largely to half of that money coming from additional revenues through income tax.
My question to you is this, if public sector employees made less, and more importantly, had no guaranteed pensions, do you think that they who drive policy would not push for better taxation policies that allows capital formation for retirement? Of course they would, but as we say in the private equity world, senior bureaucrats have “no skin in the game or investor alignment” so they will continue to increase taxes to guarantee government revenues for their gold-plated pensions. Case in point, the government just released its 2017 / 2018 fall annual financial report that states it increased revenue by a whopping $20 billion over targets thanks largely to half of that money coming from additional revenues through income tax.[2]
Tri View Capital, an Exempt Market Dealer registered in Western Canada and Ontario, will be conducting education seminars across Western Canada starting November 8th in Vancouver, November 13th in Victoria and November 14th & 15th in Calgary. They will show you two investment strategies that help support more than a million private sector jobs (economy), new drugs and patents to help reduce costs and improve patient lives (healthcare), and use federal and provincial tax deductions / credits to maximize your tax savings this season (taxes). Seating is limited. Please go to www.triviewcapital.com/events/ to register for these upcoming education seminars that will reinforce the idea that “it’s not how much you make but how much you keep”.
Craig S Burrows, ICD.D
President & CEO, TriView Capital Ltd.