New Scandal: Will this be the worst yet?

http://www.torontosun.com/2015/05/16...ion-boondoggle

They have already admitted that they will use funds collected to finance infrastructure. That is code for we are using up the rest of the obscene taxes and Hydro bills we collect on greasing our supporters so now we need your scarce pension savings to pay the rent. We will eventually run out of furniture to sell off so let's suck the RRSP money out of your portfolios. Keep in mind that the PS are not included in this plan. So basically it's a tax on those who can't afford it, the ones scrimping to fund their own RRSP plans. Gawd I hate these damned crooks......

You can't fix Stupid but you can vote them out !

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Originally Posted by yellow dog

You can't fix Stupid but you can vote them out !

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Problem is the one's who keep voting them in are exempted from this tax. By the time you add this tax with the coming Carbon tax it will suck @5% out of our diposable income. I need that money for my retirement and I don't believe for one minute I will ever get to collect on this. These inept crooks mess up everything they touch.

I wrote this months ago: Always said it was a slush fund to improve AAA credit rating ofsets to debt finance...


ORP is just the government creating a slush fund to counter the debt and provide T-Bill type saving to borrow more against. People do not get it, for me and 14 guys at peak in the summer; will cost me an extra 9K per season and 9K for the business. This is above the WSIB premiums, and also the new WSIB (2103) premiums I now pay on After Net income (last year was $9600.00, @ 9.6% and 38K in taxes). It seems this Lib gov is bent on killing small business. I will be scaling down operations and have started to slowly sell equipment as CCA and income allows. After almost 10yrs, I will be closing my business. Had a good breakfast conversation with our Landscape network in Ottawa on Sunday morning, and we have all seen about a 25% loss to the underground economy this season. For me it is not going to hurt that much, as I have a Pension and a job in PS. But I will over the next couple years slowly reduce staff and put people out of work and that bothers me. I can’t move from this province until my daughter is out of school (6-8 more years), but don’t think I will. Instead, I will buy a couple hundred aces and go off the grid and get rid of the heat and hydro issues (cash cows for all level of gov) and try to live a more simple life.

The only way to beat the system is to go off the system. Buy land in a un incorporated township, go off the grid. Have enough land to cut own firewood. Build smaller, incorporate, hot water heating, solar and back up geny (diesel). Look at technology, like Rocket Stove Mass Heater, In floor radiant heat, Sunfrost appliances (fridge/freezer). LED lighting, solar gain positioning of house and a smaller footprint to live in. Good gardens. At least if you have to pay for fuel for geny, no other debt retirement, HST, delivery to you charges. You actually pay less for energy when running the geny. Start slow and build as you can afford. Always remember to build for future expansion of services (solar). One of the most interesting technology I have seen in a while id the rocket stove mass heater. A lot like the old masonry heaters, but uses far less wood. You can incorporate hot water heating and use a 500 gallon water source as “heat sink” to store thermal mass. Lastly, stoves with propane and a propane dryer if/when needed, but at that point clothes line will be fine.

Yup... a Ponzi scheme! A current report is out there that provides the math to show that the sale of Hydro will net -$388 Million. This one promises to be so much better. Dump in billions of dollars and they all disappear... abracadabra!!!

What could possibly go wrong ?

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Originally Posted by DGearyFTE

Yup... a Ponzi scheme! A current report is out there that provides the math to show that the sale of Hydro will net -$388 Million. This one promises to be so much better. Dump in billions of dollars and they all disappear... abracadabra!!!

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The hydro sale will gnaw at you forever. Virtually impossible to retain control with only 40% ownership left. Once it's sold its gone. Guaranteed it will sell below its true value and get scooped up by Liberal friendly investors. Screwed forever.

All I can say is, I didn't vote for her. Oh, and I'm not surprised after they stole over $1 billion in the cancelled gas plant scandal. What did the people who voted for her think they would get? Nothing but pathetic handling of our money.

More questions and no answers .

http://www.torontosun.com/2015/05/19...ension-mystery

This is going to turn out to be the absolute worst scandal / screwup in the history of Confederation. Virtually everybody and every business or industry is a slave to affordable Hydro and now she will be jeopardizing that and it won't be something reversible. The 407 is a 99 year lease, we still own it. Hydro will be a fire sale to balance a budget. Everybody knows I am no fan of big government but something as fundamental to our well being should never be sold off to investors you can't control.

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Originally Posted by terrym

something as fundamental to our well being should never be sold off to investors you can't control.

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I'll give you a ring when corrupt and inept politicians begin caring about such things... don't bother waiting by your phone, it will be a while.

Terry , I don't believe she said she would use the sale of hydro to balance the budget, She said it would be used for infrastructure SPENDING.

I wonder what would happen if she sold Hydro One to a company of Wall Street hedge funds or Con Ed in New York? How long do you think it would take for Ontario to "go dark"? That's where the next "scandal" will be and you can't unring a bell.:angry:

Problem is once we lose control of Hydro we lose control of a huge part of our economy. These damned imbeciles should be in jail.

This is wrong. I suppose the only way to fight it is to get yourself a private pension plan and contribute to it. I have one which isn't through work.

At this point they haven't said your plan would exempt you. The lack of details is both telling and troubling. The people who keep voting them in are exempt from this tax do only stand to benefit from the additional spending which could flow their way. She may say funding is for infrastructure but that is code for more and higher paid PS.

Don't think you will be exempt Dyth as she wants 1.9% from your employer and 1.9% from you , so even though you are contributing to your own fund it looks like you and your employer will be forced to contribute again. Big cahones she has.

At the end of the day, I would trust these clowns to organize a girl scout cookie drive.

As for Hydro One, anyone who thinks this will lower our cost of electricity as was stated in the announcement by the Liberals needs to buy some Arizona oceanfront property I have to sell. In layman's terms, 40% isn't an enough voting block to control major policy decisions. The Ontario Liberals green energy policy would also be under scrutiny as it is expensive and an investor, who is looking out for my wallet, wants low costs and high profits. Here is how a scenario about a vote to increase the price of electricity (or any other decision) would go:

Chairperson: One of the talking points today is an increase by X% of selling electricity in order to increase profits.

Stake holder 1: Increasing profits will increase my dividend. For.
Stake holder 2: Same
Stake holder 3: Same
Stake holder 4: Same
etc
Ontario government: No we can't do that because it will cost too much for consumers (or the more frightening option: I guess we have to go along with the rest of them but we can blame them because we only have a 40% control of the company).

The only way to reduce prices of electricity is to encourage competition and I don't think Ontario will let inexpensive energy from Quebec be available to consumers.

Dyth

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Originally Posted by Hunter John

Don't think you will be exempt Dyth as she wants 1.9% from your employer and 1.9% from you , so even though you are contributing to your own fund it looks like you and your employer will be forced to contribute again. Big cahones she has.

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As it stands right now I am self-employed. It will be interesting to see how this falls.

Fall it will.

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Originally Posted by Dythbringer

As it stands right now I am self-employed. It will be interesting to see how this falls.

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a new 3.8% tax for you?

You won't be exempt Dyth.

It's lunacy, and more imo.
And yeah Terry, I wonder how the PS would react if Ms Wynne said we are going to tax you 4% to help fund the ORPP or even their own.

As for those who made fun of Hudak, or voted L or championed or campaigned for them.

/shrug

One day they will have to look in the mirrow and live with their decisions. Right now things don't look so good for Ontario

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Originally Posted by topher

a new 3.8% tax for you?

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Self employed also. I will go to jail or go on welfare before I will send the thieving bunch of lying inept crooks a single penny.

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Originally Posted by topher

a new 3.8% tax for you?

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Topher,

Quite possibly. Right now, I get a few benefits which outweigh negatives and I still think this will be the case when they implement this. I don't think it is right what they are doing though. As a self-employed person, I know I don't claim nearly as much as I could (or my accountant wants me to) but I may just tighten up the belt some and start claiming more expenses.

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Originally Posted by JBen

You won't be exempt Dyth.

It's lunacy, and more imo.
And yeah Terry, I wonder how the PS would react if Ms Wynne said we are going to tax you 4% to help fund the ORPP or even their own.

As for those who made fun of Hudak, or voted L or championed or campaigned for them.

/shrug

One day they will have to look in the mirrow and live with their decisions. Right now things don't look so good for Ontario

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Jben,

While I may not be exempt, per my comment above, I may have to start claiming more. I think this move is going to force a lot of people who are full time with no pension plan into the consulting business in order to start to offset some of the financial increases this government has made and will make. Having people move to self employment is asinine because self employed people will not pay as much in income tax which is the government's big coffer filler.

Dyth

I'm having an issue with the video but thought this might be relevant.

Kathleen Wynne insults Canada, admits she doesn't care about fixing Ontario's economy

https://www.youtube.com/watch?v=Es0Ym5_fyS8

Wynne is drunk with the absolute power the idiots in Ontario gave her last election. She said she was going to run an "activist" government and is doing exactly that. Her sex ed agenda isn't based on requests from parents and any person who disagrees with her is labelled as a homophobic, many see it as agenda based. The coming pension scam has already been proven to be nothing but a new revenue source for her to balance the books before her next campaign. Her supporters and financiers love the plan as they don't have to contribute to it. While in opposition the Liberals demonized Harris for leasing out ( not selling ) the 407 but now she is selling off something so fundamentally critical and economically strategic as our power supply. I wonder how big a chunk the teacher's pension fund will get at a discount price? Once we lose control of Hydro it's done. Forever. FOREVER !!!!
It truly is troubling to see how Ontarians seem to have no moral compass. Democracy means nothing anymore. She stole $Billions$ in the gas plant scandal. Got caught destroying evidence of the coverup and not only did the voters give her a pass on this they actually gave her a promotion to a majority. So, crime and incompetence is now not only tolerated it's endorsed in Ontario. This is the new normal here.

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Originally Posted by JBen

One day they will have to look in the mirrow and live with their decisions. Right now things don't look so good for Ontario

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I held my nose and voted for the Conservatives last year... in the face of things... it doesn't make me sleep any better or worry about my family's fiscal future any less.

After discussing it long and hard, my wife has finally determined that there's no way she can leave ON and her family, before our kids are done high school. Ugh.

Going to be quite a few long, hard years before we can escape this sinking ship i guess.

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Originally Posted by Oddmott

Going to be quite a few long, hard years before we can escape this sinking ship i guess.

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With the unions keeping her in power and her greasing them to do it just getting the Liberals out of office could take 20 yrs. Repairing the economic damage likely won't happen in our lifetimes.

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Originally Posted by terrym

Wynne is drunk with the absolute power the idiots in Ontario gave her last election. She said she was going to run an "activist" government and is doing exactly that. Her sex ed agenda isn't based on requests from parents and any person who disagrees with her is labelled as a homophobic, many see it as agenda based. The coming pension scam has already been proven to be nothing but a new revenue source for her to balance the books before her next campaign. Her supporters and financiers love the plan as they don't have to contribute to it. While in opposition the Liberals demonized Harris for leasing out ( not selling ) the 407 but now she is selling off something so fundamentally critical and economically strategic as our power supply. I wonder how big a chunk the teacher's pension fund will get at a discount price? Once we lose control of Hydro it's done. Forever. FOREVER !!!!
It truly is troubling to see how Ontarians seem to have no moral compass. Democracy means nothing anymore. She stole $Billions$ in the gas plant scandal. Got caught destroying evidence of the coverup and not only did the voters give her a pass on this they actually gave her a promotion to a majority. So, crime and incompetence is now not only tolerated it's endorsed in Ontario. This is the new normal here.

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terrym,

You sound frustrated mate. I don't want to add to your stress but I think you forgot one very important point about Wynne selling shares in Hydro One. In December 2001, the provincial government under Mike Harris wanted to sell shares in Hydro One but various groups in opposition were able to halt the sale through court orders. Now 14 years later, the provincial government wants to do the exact same thing. Yes Liberal supporters, the leader of your party has the same idea as Mike Harris, the same man who they vilify and trot out to scare everyone into their way of thinking. Hahahahahahahahahahaha.

I don't think it was a good idea 14 years ago and still don't think it is. Harris doesn't run the Province anymore. Wynne does. Do we really want people like Putin or the Arabs or the unions owning Hydro? Government is too big but it does have a place in certain sectors. A controlled and predictable source of energy is basic to our well being. Wether I choose to pay a toll on a highway to speed up my commute is a choice I can make, there are alternatives. Using electricity is not something I or employers can make. What the hell will she sell next budget? Algonquin Park? Niagara Falls? Highway 401 should be worth a few $ Billion.

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Originally Posted by terrym

I don't think it was a good idea 14 years ago and still don't think it is. Harris doesn't run the Province anymore. Wynne does. Do we really want people like Putin or the Arabs or the unions owning Hydro? Government is too big but it does have a place in certain sectors. A controlled and predictable source of energy is basic to our well being. Wether I choose to pay a toll on a highway to speed up my commute is a choice I can make, there are alternatives. Using electricity is not something I or employers can make. What the hell will she sell next budget? Algonquin Park? Niagara Falls? Highway 401 should be worth a few $ Billion.

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No, I understand who is running this province. But I think it deliciously hypocritical the same people who were rabidly against Harris doing it are touting the very same thing (even though I don't think Harris was stupid enough to sell off controlling interest).

I have heard to balance the next budget, Wynne plans to sell Ontario's first born sons.

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Originally Posted by Dythbringer

No, I understand who is running this province. But I think it deliciously hypocritical the same people who were rabidly against Harris doing it are touting the very same thing (even though I don't think Harris was stupid enough to sell off controlling interest).

I have heard to balance the next budget, Wynne plans to sell Ontario's first born sons.

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Harris LEASING it out was a short term solution but atleast the Canadian Pension Plan owns 40%
Dividends paid in 2013 by 407 International to SNC, Cintra Infraestructuras and CPPIB: $680 million
http://www.bnn.ca/News/2014/6/23/SNC...-road-CEO.aspx

There are options to the 407, probably 80% of the province has never drove on it, electricity....99% of the province relies on it, businesses rely on it etc. etc. and they even have to change the laws to make the sale legal.

Who is going to buy Ontario Hydro, the banks have cut their fees to get the deal so there is some savings there....Ontario Teachers Pension Plan? Canadian Pension Plan? State Electric Corporation of China?

There has been no mention of buyers, almost no details which bugs me, profit expectations... in more or less is a "fog or war"... a war against prosperity, the future and common sense!

To get these profits on the 407, think about the fact it has more than doubled the per km charge, increased transponder fees, increased video charge etc. etc.... and apply to a our electricity rates????