Calgary Economy - Page 15

LFRENCH · #**281** Posted **Jan 20, 2015, 3:22 PM**

Quote:

Originally Posted by Ramsayfarian

If the province wants to raise revenue they should seriously think about legalizing weed and capitalize on the marijuana tourist trade.

There's thousands of pot heads in Canada that aren't able to travel to the states that would flock here. It obviously wouldn't make up for the shortfall, but it would help.

to properly balance, we would need a sales tax on dorritos and blizzards, and dominos pizza.

I was watching the CBC story on this last night, would there be enough employment to generate a meaningful revenue stream without a sales tax? I guess they could include it in SST (if alberta has that, I'm not sure).

MalcolmTucker · #**282** Posted **Jan 20, 2015, 3:29 PM**

Well, cigarettes generate a billion dollars a year in direct taxes for the Alberta government. Alcohol about the same. Even if direct taxes on pot is $100 million a year, that is nothing to sneeze at.

suburbia · #**283** Posted **Jan 20, 2015, 4:49 PM**

Quote:

Originally Posted by 1ajs

if true then perhaps the oil comapanies need to start investing in new energy research and help get us addicted to something new so their eggs arnt in one basket

The challenge is that it makes it more difficult to adopt new forms of energy when the current form is seemingly more abundant and most certainly is cheaper. The environmentalist extremists are conflicted. They are happy some of these companies are getting beaten up, but the glut is addicting us at a societal level even more.

Anyway - prediction from the Petroleum Club presentation this morning was rebound to $50 by quarter end, but only to $58 by year end.

Ramsayfarian · #**284** Posted **Jan 20, 2015, 7:10 PM**

Whoops

Ramsayfarian · #**285** Posted **Jan 20, 2015, 7:14 PM**

Quote:

Originally Posted by MalcolmTucker

Unlike in the USA, criminal law is at the federal level, so can't really do it.

Bummer Dude!

Quote:

Originally Posted by LFRENCH

to properly balance, we would need a sales tax on dorritos and blizzards, and dominos pizza.

I was watching the CBC story on this last night, would there be enough employment to generate a meaningful revenue stream without a sales tax? I guess they could include it in SST (if alberta has that, I'm not sure).

Sales tax on junk food and video games would be a good idea. I don't think it would generate enough employment to replace the jobs lost in O&G, but it would create some jobs. Would also give jobs to those who typically can't do very physical labour. If I was a senior, I'd much rather trim pot than greet the ham planets at Wal-Mart.

Quote:

Originally Posted by MalcolmTucker

Well, cigarettes generate a billion dollars a year in direct taxes for the Alberta government. Alcohol about the same. Even if direct taxes on pot is $100 million a year, that is nothing to sneeze at.

Not only is revenue generated via taxes, but money can be saved in law enforcement and incarceration or better yet, cops divert their attention to drugs that are actually dangerous. There's a reason why the biggest lobbyists against legalization are Law Enforcement, pharmaceutical companies and the booze industry.

MalcolmTucker · #**286** Posted **Jan 20, 2015, 7:34 PM**

^ You don't have to convince me it is a good idea!

RyLucky · #**287** Posted **Jan 21, 2015, 3:05 AM**

Quote:

Originally Posted by MalcolmTucker

Well, propylene is an interesting one, because even with the price drop, the feedstock, propane, is flirting with negative prices in Edmonton.

There was talk a year ago about polypropylene plants going in near the new Williams plant. And if big enough customers went in, Williams twinning its under construction plant.

An old report on the industry: http://www.energy.alberta.ca/EnergyProcessing/pdfs/CMAI_AlbertaPP_Report.pdf

Interesting. Thanks for that!

milomilo · #**288** Posted **Jan 21, 2015, 3:35 AM**

http://calgaryherald.com/business/energy/oil-services-giant-baker-hughes-to-lay-off-7000-workers

The layoffs continue..

Ramsayfarian · #**289** Posted **Jan 21, 2015, 4:50 AM**

Quote:

Originally Posted by milomilo

http://calgaryherald.com/business/energy/oil-services-giant-baker-hughes-to-lay-off-7000-workers

The layoffs continue..

Service companies are the canaries in the coalmine.

flipstah · #**290** Posted **Jan 21, 2015, 4:42 PM**

Tax junk food + legalize marijuana.

Cash revenue stream right there.

Policy Wonk · #**291** Posted **Jan 21, 2015, 4:59 PM**

A blood bath a Penn West is imminent or already in-progress. I got a private heads-up that some people we are interested in will soon to be seeking new opportunities.

flipstah · #**292** Posted **Jan 21, 2015, 5:03 PM**

Quote:

Originally Posted by Policy Wonk

A blood bath a Penn West is imminent or already in-progress. I got a private heads-up that some people we are interested in will soon to be seeking new opportunities.

Lightstream went through the same thing this week.

Policy Wonk · #**293** Posted **Jan 21, 2015, 5:15 PM**

Yeah, I heard that was a clusterfuck.

Chadillaccc · #**294** Posted **Jan 21, 2015, 5:17 PM**

All of these layoffs, but yet several companies are still increasing their production. Over the next year, oil sands production will increase by 300 000 barrels. So why all the layoffs?

Spring2008 · #**295** Posted **Jan 21, 2015, 5:28 PM**

BOC cut rates even further, only way to keep the over valued Canadian real estate bubble afloat I suppose.

http://www.cbc.ca/m/news/business/bank-o...-with-cut-in-key-interest-rate-1.2921370

flipstah · #**296** Posted **Jan 21, 2015, 5:29 PM**

Quote:

Originally Posted by Chadillaccc

All of these layoffs, but yet several companies are still increasing their production. Over the next year, oil sands production will increase by 300 000 barrels. So why all the layoffs?

Businesses got top-heavy and just cleaning?

mykalberta · #**297** Posted **Jan 21, 2015, 5:29 PM**

I think PST/HST is a non starter even though its the fairest tax. But given that it would require a vote - its outcome would be determined on what the alternatives are. I also dont think the PC would ever bring this tax in while they are in power. Its too bad AB has no opposition that has any chance of winning because the next election the PC would be ripe for at least pushing to a minority due to their obvious fiscal mis-management.

I think what has a better chance of getting passed is the following.

1 - Income Tax: 10% under $75K, 12.5% above $75K, 15% above 125K. Increase corporate tax rate to 12%

2 - Enact City charter and allow Calgary and Edmonton to skirt above legislation and introduce their own CST, gas tax, etc. That would allow the province to reduce transfers (even though they like holding the purse strings) and would allow the Cities to better plan for their own growth rather than relying on papa Prentice and grandpa Harper. This would also allow the province to hold the cities more accountable for their own growth because if they have their own revenue then they make the decisions on their growth.

3 - Gas tax increase (its absurd that Alberta has the lowest gas tax of the provinces) and vehicle registration fee (triple the fee but make it valid for 2 years instead of 1). Sell both to the public as green policies and funnel 50% of gas tax increase to environmental projects.

4 - Increase SIN taxes and all other user fees as always.

5 - CUTS, there will be cuts, to what I am not sure. It would be good to compare the budgets of all the departments for 2015 compared to 1995 and index them with population growth and see which ones have the most bloat.

I am not up on all the budget items so I am sure there are a some other ways they can nickel and dime people.

MalcolmTucker · #**298** Posted **Jan 21, 2015, 6:55 PM**

Quote:

Originally Posted by mykalberta

5 - CUTS, there will be cuts, to what I am not sure. It would be good to compare the budgets of all the departments for 2015 compared to 1995 and index them with population growth and see which ones have the most bloat.

Health. let me see if I can find the right charts. Easiest comparison to eyeball it is whether expenses are increasing proportional to income taxes.

From the 2013-14 Government of Alberta Annual Report :

HistoricalFiscalSummary by Odarwin1, on Flickr

Ramsayfarian · #**299** Posted **Jan 21, 2015, 7:03 PM**

Quote:

Originally Posted by flipstah

Businesses got top-heavy and just cleaning?

If done properly, most enterprise size companies could gas 20% of their work force and no one would notice.

I'd start my selection based on internet usage. I work with people who spend their entire day surfing the net and I know this isn't an exception. I have no problem popping on SSP or checking email occasionally, but watching youtube or Facebooking all day should be a firing.

Don't even get me started on the never ending coffee breaks. At my last job, I had a co-worker would come in late, then leave to get his breakfast and coffee at Tim Hortons and eat it as his desk.

Fuzz · #**300** Posted **Jan 21, 2015, 7:17 PM**

The problem with looking at healthcare and saying it needs cuts is that a lot of the extra cost seams to come from the horrible decisions continuously made at the top(within AHS and government), yet any cuts to have quick impact are going to hit the bottom. That whole sector in Alberta needs a serious injection of common sense.