Raising taxes to lower the price of food? How does Singh think that would work?
Amid a three-decade high in inflation, Jagmeet Singh has released another video sharing his ‘ideas’ to fix the problem.
And if you were expecting a masterclass in economic ignorance, you’re 100% right:
“Again today, Canadian families woke up to inflation at a record high
Their cost of living is skyrocketing while CEOs & Mega-Corporations make record profits
The system is rigged because Liberals & Conservatives set it up that way — where the rich thrive & families are abandoned”
Again today, Canadian families woke up to inflation at a record high
Their cost of living is skyrocketing while CEOs & Mega-Corporations make record profits
The system is rigged because Liberals & Conservatives set it up that way — where the rich thrive & families are abandoned pic.twitter.com/w3ceTtSHzq
— Jagmeet Singh (@theJagmeetSingh) April 20, 2022
The ignorance demonstrated by Singh here is astounding.
First of all, the idea that ‘greed’ is the reason prices are going up would require us to believe that people just turn on a switch and become greedy out of nowhere.
Does Singh expect us to believe that the big companies weren’t greedy before inflation surged, but are now greedy all of a sudden?
Further, the fact that he’s saying the ‘simple answer’ is ‘greed,’ demonstrates incredibly bad faith on his part.
Singh is ignoring the role of massive government spending, the Bank of Canada debasing our money, the carbon tax, anti-energy sector policies, and world events such as Russia’s war against Ukraine, sanctions, and supply-chain disruptions.
Singh expects us to believe that none of that matters, and that it’s only some newfound ‘greed’ that is causing rising prices.
What if we put Singh’s ideas into action?
The Liberal-NDP Pact seems to be based largely upon mutual economic ignorance.
After all, what would happen if we actually put ideas into practice?
What if we imposed a large tax on the ‘excess profits’ of large corporations.
Well, prices would go up.
Corporations would pass those costs on to consumers, making life even less affordable.
Inflationary policy to address inflation?
A key problem with Liberal & NDP policy is that everything they do is inflationary, thus they seek to address the problem of inflation in a way that makes it worse.
Carbon taxes increase prices.
More government spending – fuelled by rising debt – weakens the value of our money and drives up prices.
Policies that restrict the Canadian energy sector force us to be increasingly dependent on foreign countries for energy and drive up energy costs.
Does Jagmeet Singh actually believe this?
The question we have to ask is whether Jagmeet Singh actually believes what he’s saying.
Is he really that ignorant, or is he hoping everyone else is?
Neither option is hopeful.
If Singh really believes what he’s saying, then he is stunningly out-of-touch and is either poorly-advised or has chosen not to avail himself of basic economic knowledge.
If Singh doesn’t believe what he’s saying, then he’s made a political calculation that proposing such ignorant ideas will win him votes, and he doesn’t care about the fact that he’s misleading people or proposing such damaging policies.
Either way, we can see why the Liberal-NDP pact is so disastrous for Canada’s economic future.
Spencer Fernando
Photo – Twitter
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