Attempting to double-down on higher and more spending will only make things worse, no matter how much some may claim otherwise.
Canada is in the midst of an experiment:
Can a country achieve prosperity through higher and higher taxes and endlessly increasing government spending?
So far, the answer in Canada is a big ‘NO’.
As the world becomes more and more competitive, Canada is falling behind as the creativity and entrepreneurial spirit of Canadians is constrained by an overbearing government.
The carbon tax goes up every year, holding back growth, driving inflation upward, and making life less and less affordable.
Government spending is pushing debt levels up, crowding out the private sector, and – along with the Bank of Canada – debasing the value of our currency.
Every problem in Canada seems to have only one ‘fix’ in the minds of the Liberal-NDP coalition:
More spending & higher taxes.
And the more those policies fail, the more Canada falls behind in competitiveness, the more our debt surges, and the more the dream of a prosperous life slips away from Canadians, the Liberals & NDP just double down again and again.
A failed consensus
Much of this is due to the fact that Canada has become a deeply unserious country.
Any hint of fiscal responsibility is denounced as ‘harsh’ or ‘mean’.
Nothing is worse than ‘cuts’ to ‘supports,’ the clever euphemism for the government giving money to some people that it first took from those who actually produced it.
The media plays a big role in this, denouncing fiscal responsibility as extreme, while promoting far-left economic policies like de facto Modern Monetary Theory that are actually extreme and unworkable.
The media is also now largely dependent on federal funding, meaning their livelihood largely depends on ever-increasing spending by the centralized state.
Living off the productivity of the past
Because wealth is built up over such a large period of time, the destruction and erosion of that wealth is often hard to discern.
It’s similar to how the heir to a fortune can slowly squander it, even as they give off the external appearance of possessing immense wealth.
Canada is a wealthy nation, wealth built up over many years in which our nation was productive, fiscally responsible, had relatively low taxes, and lived mostly within our means.
That is now being squandered by the policies of the Trudeau-Singh coalition.
Surging inflation combined with weakening productivity is an example of that.
If we can’t produce as efficiently, and if our money is being devalued amid surging debt, then we are living off the productivity of the past while stealing growth from the future.
How to turn this around
Given that the problem is high taxes and out-of-control spending, the way to turn things around in Canada is clear:
Lower taxes and smaller government.
Simply put, the federal government must have a reduced role, and Canadians must be able to keep more of our hard-earned money.
This will lead to a more sustainable economic situation, and will reduce the incentive for the Bank of Canada to print money to fund large deficits.
Less money printing will reduce inflation and make life more affordable.
Further, lower taxes will help unleash the creativity of Canadians, which is the true driver of wealth and innovation in the long-term.
It’s time for the unsustainable Trudeau-Singh economic experiment to end, and for our country to return to common-sense.
Spencer Fernando
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The Liberal-NDP Coalition is damaging Canada, and we need strong Independent Media to push back. If you support my independent voice, you can make a contribution through PayPal, or directly through Stripe below.
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