tag:blogger.com,1999:blog-21516013.post8267406742728312620..comments2023-11-02T01:59:12.918-07:00Comments on BETTY'S EARLY EDITION: Betty Krawczykhttp://www.blogger.com/profile/10210783813020592578noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-21516013.post-60286170030014161782013-07-19T09:37:40.201-07:002013-07-19T09:37:40.201-07:00Paul Martin was never a Trudeau Finance Minister. ...Paul Martin was never a Trudeau Finance Minister. For a complete list of Canada's Finance Ministers go here... http://en.wikipedia.org/wiki/Minister_of_Finance_%28Canada%29<br /><br />The real question is why did Pierre Elliot Trudeau move Canada from having a public debt (printed money from the Bank of Canada) to borrowing money from private banks and issuing bonds that pay interest (money that pays interest).<br /><br />This was essentially a criminal act, there was never any referendum of Canadian taxpayers that agreed to let the government start borrowing money from banks and investors. Approximately 70% of the 600+ Billion dollar federal debt is from compounding interest. If they had just printed the money from the Bank of Canada we would only have a 200 billion dollar excess currency in circulation instead of this monsterous 600 billion debt that is compounding and threatening to destroy our civilization. The whole mess was started by the Liberals a bunch of lawyers who know how to pass laws and spend money but cannot run a business, no business can just pile up debt with no intention of paying anything back and neither can a country, it just takes longer for a country to finally go bankrupt.<br /><br />The solution as detailed by Economist Martin Armstrong is:<br /><br />1) Stop all payments to the bondholders and issue local spending credits (probably based on the 200 billion initial loans, not the compounding level of 600 billion since Canadian taxpayers did not vote or approve these loans.<br /><br />2) Make it illegal for politicians to borrow money<br /><br />3) Term limits (one term) for all politicians at all levels of government. A permanent privileged class of politicians that get used to having far more money than most Canadians must not be allowed as this makes then out of touch with the problems that the taxpayers who elected them have. It should be an honour to serve your country not a way to get rich. Canadian business people with strong experience in running businesses efficiently should be encouraged to step forward and give 1 term of service to running the country (this principle should apply to all levels of government). <br /><br />4) Change all pensions and pay levels for politicians and public servants retro-actively to be more in line with private pensions, amounts given out are to be based on number of years served just as in the private world. The average federal civil servant cost according to the Canadian Taxpayers Federation is over $100,000 dollars, this is far above what most Canadians get and is not right. <br /><br />5) Eliminate the Income Tax and replace it with a sales tax and small property transfer tax. Mr. Armstrong did a study showing government would actually get more money if this was done. Income tax inhibits the formation of capital required by business to expand and hire more people. This would also help working Canadians save for buying house or a business. It is better to let those who know how to create wealth direct the money instead of government bureaucrats wasting a great deal of tax dollars. Government in Canada now gets a total of 43% of Canadian's income according to the Fraser Institute, this is way too much and a great deal of it is going to those at the top, not the poor.<br /><br />Prime Minister Harper and his gang are no different than the Liberals or NDP, these politicians set themselves above everyday taxpayers and above all are more concerned with their own power and money than the concerns of working Canadians. <br /><br />The tragedy of a debt crisis is that the people at the bottom, the poor people are the ones that get hurt the most, it is always government's duty to help those who cannot help themselves. <br /><br />I believe we need a new political party, the Taxpayers Party to set things right. My letters to Harper and his finance minister have been ignored.<br /><br />Read more from Economist Martin Armstrong here... http://armstrongeconomics.com/sovereign-debt-crisis/<br /><br />Russ Browne<br />Vancouver Island<br /><br />Russhttps://www.blogger.com/profile/17404335911029724267noreply@blogger.comtag:blogger.com,1999:blog-21516013.post-48270956065122818702013-03-24T08:36:37.231-07:002013-03-24T08:36:37.231-07:00A superb commentary on little Stevie Harper and hi...A superb commentary on little Stevie Harper and his Harpettes, the politico-vampires sucking Canada dry of blood and treasure. Your writing is an uplifting inspiration to me, at 70, to stay the course!Anonymousnoreply@blogger.com