Liberal-NDP GST Holiday: Is this Actual Help or a Political Strategy?
HTML-код
- Опубликовано: 21 ноя 2024
- 💈 FREE RSVP To Our Live Session w/ The Wealthy Barber (Dec 3) - mailchi.mp/blo...
In this episode, the Liberal government introduces a two-month GST holiday on select items like kids' essentials and prepared foods, teaming up with the NDP for a holiday-season relief package. But is this about helping Canadians or just political maneuvering? We talk about the details and the broader implications for affordability.
Also in this episode:
🛑 Canada Post Strike: 57% of Canadians want federal intervention to end the ongoing strike as holiday disruptions loom, with workers demanding major pay hikes.
💰 Bitcoin Hits Record High: The cryptocurrency surpasses $97K amid optimism about crypto-friendly policies and booming trading activity, solidifying its role in the financial world.
Thank you to Harvest ETFs for supporting this video.
Learn More about the Harvest Healthcare Leaders Income ETF
Link: harvestportfol...
-----------
📥 Subscribe to the Pulse Newsletter for Weekly Market News ➤ thepulse.beavi...
Courses & Training - The Investing Academy ➤ bit.ly/theinve...
Follow Us On Blossom ➤ getblossom.pag...
Instagram ➤ bit.ly/3Oechgh
LinkedIn ➤bit.ly/3RLndF7
Website ➤ www.beavisweal...
-----------
🏦🇨🇦 Sign Up Bonuses 💰💸:
► Questrade Online Brokerage (Get $50 in commission-free trades) - bit.ly/3OhrRrK
► Wealthsimple Trade ($50 cash bonus) - wealthsimple.sjv.io/Vmome3
► Wealthsimple Invest Robo-Advisor (Receive a $50 sign up bonus) - wealthsimple.sjv.io/oqQqKm
► NEO Financial (Cash Back Credit Card) - bit.ly/3yJqb4s
The above affiliate links are provided for your convenience, and if you click on a link and end up purchasing a product or service, this channel may receive compensation for the referral. We have personally vetted each of these companies and services and, in our opinion, we believe they provide value to our viewers, depending upon your individual circumstances.
Business Inquiries: support@theinvestingacademy.ca
-----------
Beavis Wealth Disclaimer:
The views and opinions shared on this channel are for informational and educational purposes only. Although previously licensed, the contributors are no longer industry participants and are not licensed to provide financial advice. They strive to provide you with educational information in an entertaining manner. Always do your own research and due diligence before investing. Generally speaking, you should consult a licensed investment professional before investing.
-----------
BMO Disclaimer:
This content is sponsored by BMO Exchange Traded Funds.
This content is intended for information purposes only. This content has been prepared by Beavis Wealth and represents its assessment at the time of publication. Beavis Wealth is compensated under this arrangement by BMO Exchange Traded Funds. The content contained herein does not necessarily represent the views of BMO Global Asset Management. The views expressed herein by Beavis Wealth are subject to change without notice. The content contained herein is not, and should not be construed as, investment advice to any party. Any securities described herein must be evaluated relative to the individual’s investment objectives and risk tolerance, and professional advice should be obtained with respect to the individual’s particular circumstances.
The views expressed herein by Beavis Wealth regarding a particular company, security, industry, or market sector should not be considered as an indication of trading intent of any investment funds managed by BMO Global Asset Management. Any reference to a particular company is for illustrative purposes only and should not be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any investment fund managed by BMO Global Asset Management is or will be invested. This social media network is an independent organization and is not affiliated with BMO Global Asset Management.
BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.
![[DRAGON BALL LEGENDS REVEALS ＆ STUFF] LEGENDS FESTIVAL 2024 Special Edition Part 1](http://i.ytimg.com/vi/mV5bGIswTtQ/mqdefault.jpg)
Canadian here, watching from the other side of the world. Amazing that $150k is now considered low income but it's definitely true. On that salary it's impossible to buy a house without significant savings. When we lived in Canada, it was nearly impossible for us to save money after all the usual expenses even with high dual income.
We are now retired and living in a much warmer climate, able to build a concrete house for $70k fully furnished with aircon and solar. Some food prices are close to Vancouver prices but eggs, cheese, chicken, fuel are half the price here. We're actually able to SAVE money from our investment and pensions. So glad we made the move out of Canada for now. Maybe we'll be back when things get better though. It's a beautiful country, but destroyed by the current administration in place unfortunately.
To temporarily eliminate GST on the "bad" stuff (candies, chips, alcohol, etc) is not good. Would have been a much better 'gift' during this holiday season to eliminate the Carbon Tax for two months. Home heating, fuel would have been the biggest benefits especially during the cold winter. Wonder how they came up with the $250 rebate value (someone here commented that 250 is a Chinese number for stupid).
Maybe they could cut tax on home improvements, furniture, new cars, tools, trade services, travel within Canada. I think cutting taxes on junk food and beer is actually a dumb irresponsible idea. I hope it’s not supported.
Definite vote buying and a nightmare for stores. How much will they have to pay to reprogram all the machinery for the two months, and then convert back? Those wages will have to be receovered and will cause inflation on all goods.
"The oldest con game in the world is taking away people's money quietly, and then giving some of it back flamboyantly" Thomas Sowell
The number 250 also means stupid in Chinese. That is exactly what Trudeau is. Fitting.
Beer and wine are definitely essential grocery items under a Trudeau government.
Few years ago, 100k annual salary was considered low class, fast forward to now, 150k annual salary is now considered low class... 200k will be considered low class by 2030
no tax on cow farts for 7 weeks. life changing
Nailed it.
Thank you for the new video!
The "GST holiday" will help some people who are close to the edge financially, but it can't be more than a superficial solution to a problem that goes right down into the current structure of our economy. The core problem is an economy where too much wealth is concentrated in too few hands.
To be more specific, the problem with grocery prices isn't so much inflation, it's corporate concentration in the grocery industry and food distribution industries where a small number of companies control the vast majority of the market. This oligarchy sets prices, and since the pandemic they've discovered they can set those prices much higher than before without seeing a drop in sales. Canadians can't stop buying food, so people depend more and more on credit to buy basic necessities.
What would it take for government to address this root problem? Ultimately companies need to be broken up under antitrust laws and some competition restored to the market. But any government that does this would need a clear mandate from the voters, because the oligarchs will fight back with every tool available, including the news media. It would be a tremendous fight, something that is currently beyond the capacity of a minority government like Trudeau's. So I guess a GST Holiday may be all he can do for now.
Vote buying, but with the house in gridlock this bill won’t get passed anytime soon.
Will the $250 and no gst for two months change voters? Nope. Most will still take advantage of it.
The CP strike, I believe will hurt them in the long run. Lots of companies are shifting gears so they can still sell product in peak times. Some may not use CP as much after this.
Considering that everything is so much more expensive. Saving 5% on things that I can't really afford (like going out to eat or buy toys) to do often will not affect me much at all.
Like many canadians, i want the carbon tax to be cut. And no no matter what trudeau does, i will not vote for him. Same with ndp. Their agenda would leave less money on my earnings.
I think they are more welcome if cut the cabon tax😢
Yo, elizzarda popped up, and I was like: seriously? Casino investments that actually pay? Sounds crazy, but I’m in. Who else?
Maybe get rid of the stupid carbon tax that would help more people than not
Eliminate the carbon tax instead. Transport cost increases the price of everything… Why are they cutting taxes on non essentials and even sin products like alcohol. Even eating out is included and there is no limitations. Meaning eating fine dining has no tax just as eating fast food has no tax. Its all politics and electioneering and very bad policy.
Help or politics, can’t it be both? Also let’s not pretend that anything any political party does isn’t strategic in some way, what ultimately matters is if it’s actually beneficial or not and no not every action has to permanently change things for it to be worth implementing.
A political ploy - as he originally stated - a few years ago - the economy will heal itself…. / we have taxation - not - inflation
Thanks Marc! "For lower income Canadians" at 0:42, making up to $150,000. Good one Marc, lol! I guess $150,000 is quickly becoming lower income with the way inflation has been going, and will be going with additional "free" money giveaways.
Too funny, right? I noticed that and thought to myself, since when is 150,000 a year low income? But that’s the threshold! That said, we just came off a cruise last week and with the way the prices on those ships are going up, I think that’s the minimum amount someone has to make to enjoy travelling these days. 😳
Couldn't have said it more politely! God I hate the crass political move. He's going to hike the carbon tax in April so what's the point?
Great video Marc. Thanks for the free knowledge
I have a feeling the stores will just raise their prices …. 😢
Lets hope the feds have to force the posties back to work so Jagmeet is placed into an awkward position.
Definitely an interesting tactic!
I think this year the only hope is on elizzarda invest, other projects won’t perform the same.
Won't help me much. I buy REAL food that isn't taxed in the first place. It's just gonna be more inflation.
BOC won't cut rates if numbnuts is going to spike inflation.
Then the carbon tax goes up 19% on April 1st….get these loser out of here already
I don’t understand why they wouldn’t just cut the carbon tax instead of this incredibly temporary bandaid solution.. We rank 62 out of 67 countries on the Climate Change Performance Index. It means the carbon tax has no use and is obviously not doing anything. There are other ways to go green and make meaningful impacts. Our current administration is not doing those things though despite what they say daily in parliament.
Because a tax on gas makes you think "greedy gas corporation" but a tax on alcohol makes you think "greedy government"
A desperate vote buying.
Not going to change a thing.
who cares about the strike, no one uses the post
Political theatre no doubt. Does it help people yes but i think it is a vote grab play.
No it will not make the Liberals more popular, Canadians are way smarter than that 😂
Of course political. I'm just gonna take the savings and vote conservatives. If you still support trudeau after trump's landslide historical win down south, I don't know what to say.
Increasing corporate taxes at a time when Trump will do the exact opposite.... never thought Singh was Trump's best friend to help MAGA. Capital flight!
It's called bribery.....
FYJT AND FYJS
if you're covering this news, you should also cover Dougie Fords' plans on sending out $200 per person....Is this Actual Help or a Political Strategy? if this comment gets deleted, i know where the bias is
Why would I delete your comment?
@@beaviswealth glad you didn't, looking forward to the coverage on what i said though!
Just passing along that I am unfollowing> Too bad, but this channel has become too political in it's approach. .
Sorry to hear that, Spiffy Mick! If you read this, I'm totally open to some more specific feedback. What are you most upset or disappointed by? Hope to hear from you. Thanks.
Most groceries are already GST exempt, except for single serving stuff. What a joke.