Good for Singh. Also good for minorities in Canada.
Also I can't wait to see the ill thought out attack ad the cons will most likely make at some point towards Singh. That's bound to be hilariously bad.
More progressive income taxation
Jagmeet will introduce new tax brackets for high incomes earners. This will include two new tax brackets for Canadians earning $350,000 and $500,000 respectively that are 2% and 4% higher than the existing marginal rate respectively.
Capital gains inclusion rate
Capital gains almost entirely benefit the wealthiest Canadians. Jagmeet will ensure that the wealthiest Canadians pay their fair share by increasing the capital gains inclusion rate from 50% to 75%.
Estate taxation
Jagmeet will implement a 40% estate tax on assets in surplus of $4 million dollars to help build a more equal Canada. Primary residences will be exempt.
Corporate taxation
Jagmeet will ask corporations to pay more and help build a fairer society. He will reverse the corporate tax cuts of the last 20 years and increase the Corporate Income Tax to 19.5% from 15%.
Jagmeet will bring an end to corporate perks. Corporate tax write-offs for box seat tickets and expensive meals will end and corporations will be asked to pay their fair share.
Tackling tax avoidance, evasion, and loopholes
Jagmeet will make sure the Canada Revenue Agency has the resources it needs to combat tax evasion by providing additional resources for data collection and auditing teams.
I think the CPC are going to do their best to build Singh up. They know a strong NDP is their ticket back to government, and most CPCers I know were desperately hoping he'd win.
It'll be a huge test for Scheer, though. I don't think he'll be able to contain his party's more regressive elements. I mean, he can't stop his party from attacking women and indigenous people...what chance does he have to stop them from being freaked out by a brown guy with a turban?
Vote totals:
Singh got well above his fundraising totals, which is actually historically surprising - usually it's within 1.5 points of their fundraising, and he was at 44% of the overall haul.
Nah, theyll completely ignore him.Good for Singh. Also good for minorities in Canada.
Also I can't wait to see the ill thought out attack ad the cons will most likely make at some point towards Singh. That's bound to be hilariously bad.
So, considering Singh got above 50%, they likely won't continue into further rounds... right?
Definitely is! Awesome resultJagmeet was my vote, so I'm happy to see he is number one. Is this thread worthy or nah?
Jagmeet was my vote, so I'm happy to see he is number one. Is this thread worthy or nah?
It's done. Singh is the new NDP leader.
Thus sparing us the stupid multi-week announcement structure.So, considering Singh got above 50%, they likely won't continue into further rounds... right?
We'll see if Nantel or any of his compatriots follow through on his musings about taking their ball elsewhere.
Also will be interesting to hear what he plans to do about getting a seat in Parliament.
There's a chance the CPC's attempts to build Singh hurt them in the process and knock them out of official opposition status, but Singh needs to make sure the federal NDP is more competitive in the prarie provinces for that to happen unless the federal NDP comes back in Quebec.
So it's going to essentially require the liberals crushing all of the other parties in Quebec, the NDP being more competitive in the GTA and greater vancouver, the CPC doing a bit worse in the praries mostly because of the Liberals to lose officially opposition status.It essentially requires a perfect storm for the federal NDP to form official opposition status again now. I wonder how compeittive Singh will make the federal NDP in the next election. I think he could make the federal NDP a bit more competitive in Edmonton.According to Chantal Hebert, Nantel leaving is almost a sure thing. Reading her description, it sounds like he was just looking for a reason to leave.
As for a seat, he seems to be waffling between waiting until 2019 and going for Raj Grewal's Brampton seat, or trying ASAP via a by-election or getting a current MP to resign. The problem for the NDP is that Grewal won by a pretty big margin, so that would be a tough fight, and that there are very few safe NDP seats elsewhere he could parachute into.
As unpredictable as Quebec can be, I think the Orange Wave is dead. I'm also skeptical that the NDP will be competitive in the prairies next election -- Angus probably would've been a better choice for that, since he's from a rural riding. I think Singh makes them really competitive in the GTA (which is where they may threaten the CPC) and Greater Vancouver, and pretty much non-existent everywhere else. That's not terrible, since there are a lot of seats there, but like Sean said upthread, it's a pretty high-risk, high-reward strategy.
If Nantel is just a malcontent looking for a way out, paradoxically that's arguably less of an issue than if he was an otherwise loyal trooper who found Singh and the other Anglo candidates unacceptable.According to Chantal Hebert, Nantel leaving is almost a sure thing. Reading her description, it sounds like he was just looking for a reason to leave.
As for a seat, he seems to be waffling between waiting until 2019 and going for Raj Grewal's Brampton seat, or trying ASAP via a by-election or getting a current MP to resign. The problem for the NDP is that Grewal won by a pretty big margin, so that would be a tough fight, and that there are very few safe NDP seats elsewhere he could parachute into.
Cullen says he's not concerned about Singh's lack of seat in House of Commons
OTTAWA — Veteran New Democrat MP Nathan Cullen is shrugging off the fact Jagmeet Singh is in no hurry to sit in the House of Commons, choosing to endorse the member of the Ontario legislature in his bid to lead the federal NDP.
Cullen, who himself ran against eventual winner Tom Mulcair in 2012, said Wednesday he is confident the NDP's current team of MPs — 44 all told, including three running against Singh — can hold the Liberal government to account until 2019, if necessary.
While Singh has said he'd be inclined to wait until then to run in the federal election, he has left the door open to running earlier in a byelection, adding that he's open to ideas on "where it makes sense to run."
Even though the NDP was cheered for its work in the Commons prior to the election, Justin Trudeau triumphed nonetheless, despite having spent little time on the floor of the House, Cullen said.
"Voters, in the end, determined they had a relationship and understood his policies better than they did ours, so he's prime minister," he said.
...
Look at his tax platform. These are solid progressive proposals.
As unpredictable as Quebec can be, I think the Orange Wave is dead. I'm also skeptical that the NDP will be competitive in the prairies next election -- Angus probably would've been a better choice for that, since he's from a rural riding. I think Singh makes them really competitive in the GTA (which is where they may threaten the CPC) and Greater Vancouver, and pretty much non-existent everywhere else. That's not terrible, since there are a lot of seats there, but like Sean said upthread, it's a pretty high-risk, high-reward strategy.
Brad Wall's slipping popularity may do that, regardless of Scheer's performance.
You mean to say that the margin in 2011, the election where the Conservatives got the largest percentage of the popular vote they've had in over 20 years, was larger than it was in the 2015 election?
Not exactly surprising. Nor does the data suggest they only won by the skin of their teeth. The majority of the leads were pretty comfortable.
If you're going to claim that there's illicit US money coming into our political system, there should at least be some proof. Are you saying that the CPC are cooking their books to hide these donations? Because those books need to be audited by an outside accounting firm, and then they're reviewed by Elections Canada, so if that's what you're saying, then it's a pretty far-reaching conspiracy. Or are you suggesting that these US corporations are secretly funding anti-Liberal/pro-CPC ads? Because third-party political advertising is pretty heavily restricted, so again, you're essentially claiming that Elections Canada -- a non-partisan political agency, under a Liberal-led government -- is ignoring dark money flooding into Canada, to fund ads that I can't say I've ever seen.
Maybe I'm being naive, but I just find it easier to believe that the simplest explanation for the CPC's fundraising prowess -- that Conservatives are just more willing and more conditioned to give money to the party, and have been for decades -- is more likely than a vast array of shadowy donors giving money that doesn't show up anywhere. They certainly share tactics and ideas, but I think that's as far as it goes.
Those are percentages, which are a function of larger voter turnout. If you compare 2011 and 2015, the CPC only lost 10,000 votes in all of Saskatchewan. Which goes back to my point, which is that the CPC base is pretty solidified by this point. I'm not saying no one will ever switch their votes to or from the party, but Harper designed things so that while their pool of accessible voters was smaller than that of the other parties, their baseline of committed voters is probably a lot bigger.
I think that the Liberal swelling of support in the prairies is pretty well dead.
The love affair that left-wing voters in the prairies had with Trudeau ended as soon as they formed government, and dislike of him for keeping nearly nearly none of his left-wing aimed campaign promises (pot legalization is really low on the totem pole here in that regard) makes Liberals a decidedly untenable choice for left-wing voters that are acclimated to the NDP like they are in Alberta, Saskatchewan and BC. And with no other viable choice, left-wing voters in the prairies will vote NDP, in spite of any discomfort some might have over Singh's race.
That will likely mean certain ridings will swing further towards the CPC, but in places where the Liberals uncharacteristically surged in the prairies, you'll see them swing to the NDP in the next election by virtue of a complete distaste for the Trudeau government and an actual chance at an NDP MP if the left-wing can be galvanized into doing so.
Whether that will mean they can actually capture the seats still remains to be seen.
Behold the collapse.
I know the election is two years away, but I think predictions of the Liberal Party's demise might be a wee bit premature.
I didn't claim anything, just that there's been talk, most of it unsubstantiated, but where Singh's money was coming from demographically was also unsubstantiated, so...
And you yourself admitted that permanent residents can donate and gain party membership, so what's stopping a single person from donating a large amount of money to a party and candidates that they think will give them what they want from a political party in the interest of their powerful friends or their employer? I even admitted that such things, while fully plausible as I outlined, would never be enough to outright influence the party's ultimate decision making, but it doesn't hurt to do something.
So, to be clear, you're saying that high voter turnout unanimously favoured the Liberals and NDP, and that their loss of votes doesn't reflect disillusionment with the CPC?
Read the beginning of what you quoted again, then look at the prairie numbers, and realize that the data actually bears out my point, in that the support of the Liberals based on voting was higher in 2015 than it is now. Never mind that they lump SK and MB together. Besides, the data points provided don't tell the whole story, when you consider that there's nothing in there about the PM's approval rating, nor a line graph showing the provincial support over time.
EDIT: Here's a look at a Mainstream poll in June of Trudeau's national popularity by province:
Of course primary residences would be exempted from his estate tax plan. This to me is a great demonstration of the influence the upper-middle class, and not just the 1%, wields in politics and uses to protect their position. With such an estate tax implemented we'd see people buying really expensive houses to protect their wealth, similar to how the capital gains tax exemption for primary residences does.
It would be very unpopular to get rid of the primary residence exemptions, but of all parties I'd hope the NDP would maybe at least limit it to some cap that didn't just create what is basically an unlimited TFSA for a single real estate asset.
"Housing is a critical component of many people's equity and their retirement prospects, and we want to make sure we don't adversely affect the marketplace."
Of course. Housing equity is the third rail of Canadian politics. Canada has propped up the housing industry with so many incentives that tons of Canadians have based their whole retirement strategy around housing. At this point it's political suicide to suggest actions that would directly reduce the equity of the broad middle class. Only Ashton suggested any changes to how we tax primary residences.
A major contributor to the housing bull run now is baby boomers, which have seen their subsidized investments in housing do great, who now believe housing is a 'can't fail' investment, do everything they can to give their kids cash gifts and help their kids get into the housing market.
It'll be a long while until politicians can unwind this. Some sort of cap on max capital gains is a good start but I think a lot of things (such as a housing bubble collapse) will have to happen before that becomes politically feasible.
As an example of how politicians are loath to touch this issue, here's a recent quote from newly elected NDP BC Premier Horgan, a guy who was elected because people were pissed off about the housing market, on the housing market:
Am I the only one who thinks that Real Estate shouldn't be the nest egg that everyone depends on? I've talked to so many people that have retired recently about their houses, and most of their issues were the same: a person still needs a place to live after they've sold their primary residence.
I mean, sure, the primary residence has zero capital gains on it, but the cost of buying/renting another property upon retirement -- which often involves downsizing or a reduction in lifestyle -- is simply throwing all of your gains away for nothing.
Am I the only one who thinks that Real Estate shouldn't be the nest egg that everyone depends on?
A more balanced and hedged investment strategy would be to invest in some things that are disconnected from your location and employment and currency, so if the Canadian economy takes a dive, your investment portfolio may not.
Not to mention the fact that downsizing while actually retaining enough gains to have a comfortable retirement often means moving neighbourhoods or perhaps even cities as NIMBYs fight to keep any sort of densification out of single family neighbourhoods and runaway property speculation inflates housing valuations (Condos outside of Downtown Vancouver are now commanding $1300/sqft!). Why would anyone in retirement years want to move away and be forced to throw away their established social network and the life they've grown comfortable with?
Downsizing problems aside there is the issue that real estate is an awfully big bet on a single market. Your house is probably in the same local market that is shared with your employment, so a local economic crisis is going to hurt your employment and your home equity/retirement savings. Persons that are going further and buying investment condos in the same town are doubling down on the same bet again. All of this in the same currency as well.
A more balanced and hedged investment strategy would be to invest in some things that are disconnected from your location and employment and currency, so if the Canadian economy takes a dive, your investment portfolio may not.
Precisely. My entire portfolio is disconnected from the Albertan economy, so I'm quite immune to local economic factors. I feel kind of bad for a few acquaintances, as their real estate investments are treading water at the moment...
He saw a country wracked by poverty, illiteracy & disease. So he lead a revolution that uplifted the lives of millions. RIP #FidelCastro
He's going to regret this one I think:
https://twitter.com/thejagmeetsingh/status/802734505920524289
As long as a powerful middle class strongly opposes a huge increase in the supply of housing other housing affordability policies like lower minimum downpayments or the ability to borrow from your RRSP for downpayments only really serve to inflate the price of housing. While seemingly counter-intuitive I think the best "politically feasible" strategy to take would be to stop instituting policies to try and make housing more affordable that don't increase supply.
That Ashton and Caron were able to finish about as expected highlights the poor performance of Angus. Had there been a bigger gap between him and the bottom two finishers, Singh's win could be chalked up entirely to turnout and his bigger membership sales. But a not insignificant contributor to Singh's first ballot victory is the failure of his chief rival to get his supporters to vote.
There is no reason that the government should be involved in any of this. The government's housing policy should be focused on solving problems the free market can't solve, such as creating homes for the homeless and helping end poverty, not helping middle class people buy yet another investment condo.
One of the best things the Liberal government has done to date has been to increase the scrutiny banks must place on persons getting mortgages. This is a basic first step, but the government needs to go a lot further than this.
He's going to regret this one I think:
https://twitter.com/thejagmeetsingh/status/802734505920524289
I don't always agree with Eric Grenier, but his analysis of the NDP vote is really interesting. Basically, it seems likely that Singh won on the first ballot because Angus' supporters just didn't vote:
I just don't understand why people would join a party and then not vote for leader, but...well, here we are.
There were strong indications throughout the campaign that Singh's support was largely being drawn from new members. Pre-existing members of the party were instead opting for sitting MPs and long-time party figures Charlie Angus, Niki Ashton and Guy Caron.
But those three only had 30,243 votes between them. The number of pre-existing party members and new members that weren't signed up by Singh's campaign totaled about 77,000. Undoubtedly, some of them voted for Singh. But a disproportionately low number of them turned out for his opponents.
Honest question: like what? The Liberals are coming out with a National Housing Strategy later this fall, so they're going to be doing more on it soon, but I'm curious as to what people think they should include.
We're already at this phase, huh? That was quick.
I mean, we know that Singh's donors were concentrated in the Toronto suburbs. If you want to argue that he was getting huge donations from the white Conservatives living in the GTA, knock yourself out.
And a single person can give $1,550 to a party, $1,550 to riding associations/nomination candidates, and $1,550 to leadership contestants. I'd say that's what's stopping anyone from giving "a large amount of money to a party" in exchange for political favours. You really think you can buy that much influence by donating less than $5,000/year to a party?
The Liberals gained 4m+ votes over 2011. The CPC lost 200k votes. Even taking into account the fact the NDP lost 1m votes, I'm going to say that yes, the high voter turnout in 2015 favoured the Liberals.
You're claiming that Trudeau's popularity has cratered in Western Canada, specifically in Manitoba and Saskatchewan. To prove this, you're using a chart that shows his favourability is at +18 in Manitoba, and +3 in Saskatchewan. The Liberals aren't losing Goodale's seat as long as he's running, and the Liberal seats in Winnipeg -- apart from Kildonan—St. Paul -- were all won by pretty significant margins. If you're going to make an argument that there's a NDP tidal wave hiding in the numbers, prove it, rather than hand-waving away all existing evidence in favour of your own grand pronouncements and anecdotal stories.
Polls by Mainstreet, ARI and Forum Research have all recorded a nine to 10 point drop in Trudeau's approval rating, with his disapproval rating increasing by eight to 11 points between June 2016 and June 2017:https://i.cbc.ca/1.4173397.1498152840!/fileImage/httpImage/image.jpg_gen/derivatives/original_620/trudeau-approval-ratings-polls.jpg
Regional data from the Forum and ARI polls suggest that where Trudeau is the most popular is also where his support has declined most steeply.
Across these two polls, Trudeau's approval rating has dropped 13 points in Atlantic Canada, 10.5 points in B.C. and 9.5 points in Quebec.
But these three regions are where Trudeau's net approval ratings (approval minus disapproval) are still highest: +11.5 in B.C., +26 in Quebec and +28.5 in Atlantic Canada.
Trudeau also remains more popular than his party, which is polling around 40 per cent support among decided voters.
This is partly because of his approval ratings among New Democrat supporters. While just 11 to 18 per cent of Conservative voters say they approve of Trudeau, according to Campaign and Forum polls, that increases to 37 to 48 per cent among NDP voters.
I'm just referring to future attack ads based on this, you can just see this coming.
It's not me condemning Singh or anything.
Oof. But Trudeau posted something similar didn't he?
Oof. But Trudeau posted something similar didn't he?
Seems likely to me that it's not that Angus' signed up supporters didn't decide at the last minute to not vote for him for some reason, but more that the existing NDP base simply voted for Singh.
* The Liberal housing budget calls for $11.2 billion over 11 years. ~$1 billion a year divided across all Canada is basically nothing. It needs to be dramatically more.
* The reason that purpose built rentals have died out while condo development has become the norm is because the Liberal government of the 90s ended tax incentives that made rental development profitable while at the same time condos appeared. Right now condos are the obvious more profitable choice for developers. The Liberals should look into how they can rebalance this, as purpose built rentals are more affordable for renters.
* RRSP Homebuyers Plan is an incentive for housing that juices demand. One could get rid of that.
* Government owned Canada Mortgage and Housing (CMHC) insures mortgages and this takes the risk off of banks. This frees up banks to be more liberal with their lending practices, able to lend to more people, which increases demand. Michael Chong floated the idea that the CMHC should get out of this business and let banks take on all the risk. I think this is an idea worth looking into.
* End the 50% tax break on capital gains from non-primary real estate. There is vaguely a justification for a tax break on capital gains from equities due to double taxation (lol not really), but there's really no justification for why capital gains on investment real estate shouldn't be 100%.
This change would make investment condos a worse investment, which would decrease demand from speculators and lower prices for people who simply want to buy property to live in.
Tangential but related to housing:
* Holy fucking shit get the CRA to actually crack down on the people who are obviously avoiding taxes.
I'm just referring to future attack ads based on this, you can just see this coming.
It's not me condemning Singh or anything.