Honestly... say that in exchange for letting the provinces drop social assistance and cutting transfer payments accordingly, we just give everyone $300 a week with no income checks. Cutting all of the compliance checking would save a bunch of money and the provinces aren't stuck chasing around deadbeats to make sure they look for work. The money is no longer a disincentive to work, because every Canadian who has filed taxes gets it. It would get cash out to the lower class, which will end up being spent right away anyway. It's all about that money velocity...
"What about people making $250K with dual income households, they don't deserve it!" Great, it's a taxable benefit, so they pay back most of it anyway.
The way I see it, the Canadian govt has been propping up the real estate market for a while. The duplex I'm renting, the combined (two residences in duplex) land assessment value went from $350K to $600K on a 0.2 Acre lot several blocks from Okanagan lake between 2015 and 2020. Did we have close to 100% inflation between that time? Did our wages double? No! So the banks give out larger and longer loans, pricing all Canadians out and opening the doors for the Chinese to buy up all the property. This is a crisis created by overlooking the problem. Since the govt profits off of the Chinese tax revenue, they are on the hook IMO.
Honestly... say that in exchange for letting the provinces drop social assistance and cutting transfer payments accordingly, we just give everyone $300 a week with no income checks. Cutting all of the compliance checking would save a bunch of money and the provinces aren't stuck chasing around deadbeats to make sure they look for work. The money is no longer a disincentive to work, because every Canadian who has filed taxes gets it. It would get cash out to the lower class, which will end up being spent right away anyway. It's all about that money velocity...
"What about people making $250K with dual income households, they don't deserve it!" Great, it's a taxable benefit, so they pay back most of it anyway.
The way I see it, the Canadian govt has been propping up the real estate market for a while. The duplex I'm renting, the combined (two residences in duplex) land assessment value went from $350K to $600K on a 0.2 Acre lot several blocks from Okanagan lake between 2015 and 2020. Did we have close to 100% inflation between that time? Did our wages double? No! So the banks give out larger and longer loans, pricing all Canadians out and opening the doors for the Chinese to buy up all the property. This is a crisis created by overlooking the problem. Since the govt profits off of the Chinese tax revenue, they are on the hook IMO.