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Alberta

Alberta. The Best Province in a Nation in Trouble.

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5 minute read

Submitted by Red Deer South MLA Jason Stephan

September 1 is Alberta Day. Alberta is a land of freedom and prosperity, welcoming all who desire to work and to serve, seeking happiness for themselves and their families. Alberta joined confederation and became part of Canada on September 1, 1905. Historically, Alberta has led Canada in key measures such as GDP per capita, business investment per worker, private sector employment, CPP contributions, equalization payments, etc. Alberta is the best.

Canada has benefited from Alberta more than Alberta has benefited from Canada. In this graph produced by the Fraser Institute, for its article titled Understanding Alberta’s Outsized Contribution to Confederation, it is estimated that Alberta businesses and workers, between 2017 to 2023, paid more than $244 billion to Ottawa than it received from Ottawa, dwarfing net contributions of the only two other contributing provinces, Ontario and BC, despite, in the case of Ontario, having a much larger population.

The biggest taker during this period was Quebec, receiving more than $327 billion from Ottawa than it paid. Many have written how Quebec and others “game” confederation to increase transfers from producers. Indeed, the current premier of Quebec said that his favorite thing about Canada is equalization.

While Canada has the potential to be the most free and prosperous country in the world, by objective measures it is not, and the flawed structure of “confederation”, and some who seek to exploit it to glut themselves on the labors of others, hold us back and drag us down. When the “redistribution” of wealth displaces the “production” of wealth as a ruling principle, we are in trouble and that is now.

Many are concerned that Trudeau’s Canada is a growing danger and threat to Alberta’s freedom and prosperity. That is true. Alberta is better off without Trudeau’s Canada. Trudeau’s Canada is a fiscal train wreck. Trudeau has smashed through a trillion dollars in debt, accumulating more debt than all Prime Ministers before him combined. This gross negligence, waste and disrespect will be burdens of our children long after they are gone. Canada now pays more in interest on its debt than it collects from the GST.

Prior to Trudeau, in 2014, Canada’s per capita GDP was 92% of the US. What is it now? In 2022, it is 72%, a 20% drop in less than 10 years, and getting worse. We are getting poorer, fast. It should not be this way, it does not need to be this way.

Canadians awake and alive to the truth of Trudeau’s Canada and where it is leading are rightly concerned and alarmed. But what to do? Some are leaving or have left.

Alberta has the highest per capita GDP in Canada, rejecting Trudeau’s woke, socialist values of mediocrity and virtue signaling, producing nothing. Trudeau’s Canada appears to resent Alberta with policies that single out Alberta, seeking to attack, hold back, or drag it down.

Do not count on many politicians to stand up for a “Fair Deal” for Alberta, because if Alberta gets a Fair Deal, then it means less handouts for others!

Let’s provide Albertans with the unbiased truth and facts surrounding “fiscal federalism”. Who is paying what, and who is getting what, directly or indirectly, from Alberta businesses and workers. Albertans should be supplied with the truth about what they are paying for and what Trudeau’s Canada is costing them. In this fall legislature I will be bringing forward a motion to get to these facts, even if some do not like it.

Let’s arm Albertans with more truth, and then trust them to lead, to know what is best. Let’s increase Alberta’s leverage for a Fair Deal. The less Alberta needs Canada, the more leverage Alberta has. There are many things that Alberta can do for Albertans better than Trudeau’s Canada.

Albertans need alternatives to Trudeau’s Canada; let’s prepare, insulate, and protect ourselves from this accelerating trainwreck, which unabated, will crash as sure as night follows day.

We cannot be complacent – less talk and more action.

Alberta is a blessed land of freedom and prosperity. We must be vigilant to keep it that way. Happy Alberta Day!

 

 

Alberta

Alberta government can soften blow of Ottawa’s capital gains tax hike

Published on

From the Fraser Institute

By Tegan Hill

Several wealthy and successful industrialized countries (Switzerland, New Zealand, Singapore) and several U.S. states (including Texas, Alaska, South Dakota, Wyoming) impose no capital gains taxes. Of course, Alberta competes with these U.S. states for investment.

Earlier this year, the Trudeau government increased the inclusion rate on capital gains over $250,000 for individuals and on all capital gains realized by corporations and trusts. This tax hike will almost surely have a negative impact on investment and entrepreneurship, but the Smith government can lessen the blow in Alberta.

In simple terms, capital is money invested in an asset—e.g. a business, factory, intellectual property, stock or bond—to create economic benefit. A capital gain occurs when that investment is sold for more than its original purchase price.

Prior to the tax hike, half the value of a capital gain (50 per cent) was taxed by the government. Trudeau increased this “inclusion rate” to 66 per cent—and that has real economic consequences.

Why? Because capital gains taxes impose comparatively large costs on the economy by reducing the reward from productive activities such as savings, investment, risk-taking and entrepreneurship, which are essential for strong economic growth. Capital taxes are among the most economically damaging forms of taxation for this very reason—they reduce the incentive to innovate and invest.

Take an entrepreneur, for example, who’s deciding whether or not to risk their own capital to provide (and profit from) a new technology, product or service. The higher the capital gains tax, the lower the potential reward from this investment, which means they will be less inclined to make the investment or perhaps undertake the investment elsewhere (another country, for example) in a more tax-friendly environment. Less investment means less innovation, job creation, wage growth and ultimately lower living standards. In other words, Trudeau’s capital gains tax hike will not only hurt Canadians with capital gains but other Canadians who benefit from the knockoff effects of investment.

Largely due to this problem, several wealthy and successful industrialized countries (Switzerland, New Zealand, Singapore) and several U.S. states (including Texas, Alaska, South Dakota, Wyoming) impose no capital gains taxes. Of course, Alberta competes with these U.S. states for investment.

Previous federal governments also understood the disincentive that comes with capital gains taxes. In 2000, the Liberal government of Jean Chretien meaningfully reduced the tax rate applied to capital gains stating that we must “introduce tax measures that encourage entrepreneurship and risk taking.”

Today, fortunately, the Smith government can take action.

When governments tax your capital gain, they include a share of the gain in your personal income and it is taxed at your personal income tax rate. The Alberta government could simply add a step in the tax return process for Albertans to remove capital gains from the provincial income tax calculation. As a result, the capital gains tax would only apply to the federal portion of your income taxes.

The Alberta government doesn’t have to sit back and accept Trudeau’s capital gains tax hike. Eliminating capital gains taxes from the provincial income tax in Alberta would send a powerful message to potential entrepreneurs, investors and businessowners that the province is open for business—and that benefits all Albertans.

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Alberta

Police arrest second suspect in August 6 murder and attempted murder in Rocky View County

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News release from Alberta RCMP

Elijah Blake Strawberry arrested Friday on the O’Chiese First Nation

Following an intense search and multiple pleas for information, on Sept.. 13, 2024, just after 1 p.m., members of the Alberta RCMP Major Crimes Unit successfully and safely arrested 28-year-old Elijah Blake Strawberry at a residence on O’Chiese First Nation.

Strawberry will be taken before a justice of the peace to determine his release status and future court date.

With this arrest, the Alberta RCMP are confident that both suspects involved in the Aug. 6, 2024, homicide of Colin John Hough and the attempted murder of another individual are in custody.

“We received tips and information from the public over the course of the last few weeks and the arrest of Elijah Strawberry serves as a reminder of the value of public assistance in maintaining public safety, “ says Chief Superintendent Roberta McKale, “The Alberta RCMP had a significant co-ordinated effort with many different units engaged from across the Province offering thousands of work hours to locate and arrest Elijah Strawberry.  I would like to thank our dedicated officers from the Alberta RCMP Major Crimes Unit as well as all other support Units who worked tirelessly to this point and will continue to work on this investigation now that Elijah Strawberry is in custody. I would also like to thank our partners from Edmonton, Calgary, and Lethbridge Police Services, the Alberta Law Enforcement Response Teams, and the provincial Sheriffs who all assisted in our efforts to locate this offender.”

Despite the arrests of Arthur Penner and Elijah Strawberry, the investigation into this matter continues. The RCMP asks anyone with information about these crimes to come forward.

As always, our thoughts are with our victims and their family and friends who have been so deeply affected by this senseless tragedy.

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