The Massive Numbers Of Canada's Government Employees Is Unmanageable
Look at one department: CRA
59K Employees for 41M population
Comparisons:
90K Employees US IRS for 341M population
19K Employees Australian ATO 26M population
56K Employees Japan NTA 125M population
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There are some differences between the responsibilities of each of the Tax organizations in these counties but NOTHING that would explain the Mind Boggling size of Canada's CRA
This is just one example: the size of the Canadian Public sector is massive
The Biggest Worry:
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These are effectively permanent employees & we fund the Government payroll by super high taxation & even worse: Canada BORROWS to make the Government payroll
Yeah, we BORROW at interest to pay our employees
This is a sure path to economic destruction
What's the answer?
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Clearly FAR FEWER EMPLOYEES is the answer
If we reduced the CRA employee group by 20K people would taxes STOP being collected?
Clearly NOT
But would service to Tax Payers deteriorate radically?
How could it get worse?
Ever call CRA?
How fast was that call picked up?
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Once you got through to CRA were you passed on to another department for another 30 minute wait? And once you got through & explained your problem were you ever told that was STILL the wrong department?
Look there are some excellent professional people working at CRA
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But the way they operate the department is insane
How the hell could CRA ever justify having likely the largest group of people on EARTH to collect taxes that are 75% collected AUTOMATICALLY through payroll deduction, GST at purchase level & duties collected on some imports
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59K people working at something that's 75% purely automatic?
And most outrageous: Canada BORROWS money to make that payroll
It's insane
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Unemployment Will Soon Become A Major Issue In Canada: It's Going To Get Worse
What makes Bank Of Canada Rate cuts a certainty is ongoing Job Losses in Canada particularly Ontario
Don't be fooled by Jobs Reports showing small rises in Unemployment it's going to take off
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The absolute certainty of Bank Of Canada continous rate cuts is simply an outcome of the dangerous Recessionery impact of Job Losses
And the Number One worry of all Bank Chief Risk Officers is NOT high interest rates: it's Unemployment
In my work we get calls every day
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And lately too many of the those calls revolve around what how to raise money from Home Equity to handle a job loss, to provide the money to survive until the next job comes along
Some people have excellent Severance Packages, some DON'T
New Home Construction Grinds To A Halt In Ontario: How Bad Is It? BAD
New Condo Starts in the GTA are down 75% in May an unprecedented drop & Low-Rise (Single Family, Semi's, Towns) are down 65%
This will get worse as 2024 progresses
Let's talk about all of Canada
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Canada, in the midst of a Housing Crisis will likely see the New Builds in 2025 fall below 170K annually
That's 50K less than this year & compared to the pledge of Governments at all levels of 500K New Homes per year represents a mind bending disaster
This stuff is WILD
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Hundreds of Announcements from Ministers in Hard Hats & Yellow Vests insisting the Housing Accelerator Fund is the solution & BILLIONS committed to move the needle on Housing & in the final analysis: WORSE