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  #981  
Old Posted Apr 21, 2017, 2:22 AM
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Quote:
Originally Posted by Aylmer View Post
No one is a lifelong taxpayer. Before any of us got our first T4, we were children. Economically, we were contributing nothing, earning nothing and costing society dearly in free healthcare, free dental care, free education and subsidized activities for the better part of 16-20 years.
Someone who immigrates here is a fiscal gift - already educated and raised on a different government's dime, and ready to get to work and pay taxes here. If they require a few months or years of assistance, it still works out in our fiscal favour.

It's important for us all remember that any of us born here were ungrateful freeloaders for about two decades before becoming "lifelong taxpayers".
When I said "lifelong taxpayer" I was implying an individual who followed these typical and obvious transitions through life. Maybe a more complete way of putting it would have been "lifelong citizen and taxpayer". I know that I did not receive a T4 when I was 5.

An immigrant may or may not be a fiscal gift.

If an immigrant merely displaces a Canadian-born citizen from a job, they're not a gift. If they are educated but fail to earn an above-average income, they're not a gift. If they bring in family members, they can easily become a net drain on the system. If they leave and earn money elsewhere but don't report it, they can easily be a drain. If they have significant capital and engage in speculation here, they can be a net loss for the country.

My point is that it's actually pretty hard to ensure that immigration works well (good luck getting bureaucrats to optimally target immigrants at specific industries, for example). And the goal of ensuring that it pays off economically is incompatible with the ideal of keeping the country as open as possible or helping people as much as possible.
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  #982  
Old Posted Apr 21, 2017, 3:35 AM
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Quote:
Originally Posted by someone123 View Post
When I said "lifelong taxpayer" I was implying an individual who followed these typical and obvious transitions through life. Maybe a more complete way of putting it would have been "lifelong citizen and taxpayer". I know that I did not receive a T4 when I was 5.

An immigrant may or may not be a fiscal gift.

If an immigrant merely displaces a Canadian-born citizen from a job, they're not a gift. If they are educated but fail to earn an above-average income, they're not a gift. If they bring in family members, they can easily become a net drain on the system. If they leave and earn money elsewhere but don't report it, they can easily be a drain. If they have significant capital and engage in speculation here, they can be a net loss for the country.

My point is that it's actually pretty hard to ensure that immigration works well (good luck getting bureaucrats to optimally target immigrants at specific industries, for example). And the goal of ensuring that it pays off economically is incompatible with the ideal of keeping the country as open as possible or helping people as much as possible.
We've been extremely lucky to be able to do both for quite a long time. Time is fast running out on this honeymoon however. It's going to be a rude awakening for many Canadians.
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  #983  
Old Posted Jun 3, 2017, 10:43 PM
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Just as you thought that the water was under the bridge, (as in this saga here http://tinyurl.com/y7k5f9dq), the PM's once gracious host is reportedly engaged in litigation with one of his ex-compatriots here in Canada for exposing his bagages. Thankfully, the G&M, the Tyee, the Straight, the National Post et al are spared the rod.

In Dermod Travis's article of January 31st last, he reported:
"Unpublicized at the time, Trudeau broke bread at the home of Miaofei Pan, a Vancouver property developer. Shock of all shocks, some of the 80 guests saw the dinner as an opportunity to talk shop with the prime minister.
Up for discussion that night was the proposed acquisition of Vancouver-based Retirement Concepts, a chain of retirement homes believed to be worth more than $1 billion, by China’s Anbang Insurance Group."


Interestingly, Anbang is also suing one of his ex-compatriots, now a Canadian citizen and a CFO; but Anbang chooses to ignore the Financial Times, the New York Times, and the western world's media, who openly dissect Anbang's lack of ownership transparency and alleged financial chicanery.

Multiculturalism version "M&P", the writing is on the wall.
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  #984  
Old Posted Jun 9, 2017, 9:39 PM
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So I've had an interesting experience with the implications of my ancestral heritage.

I'm living in Czechia for the time being (likely until September, possibly later) for work stuff. To avoid having to get a visa (the time I'm here exceeds the Schengen area's visa-free time limit) I did something I've been meaning to do for a while, and claimed by Irish citizenship in order to use the EU migration rights to take up residence legally in Czechia.

My paternal grandmother was born in Belfast, Northern Ireland in 1935. Ireland has citizenship by descent laws that grants Irish citizenship to children and grandchildren of those born in Ireland, and Irish law gives Northern Ireland's people the same right to citizenship as those from the Republic of Ireland, so I was able to claim it and become a Canada-Ireland dual citizen.

But the UK only allows citizenship by descent for children, not grandchildren. So I'm not eligible for UK citizenship.

So my grandmother passed to me the right of citizenship in a country OTHER than the one she was born in.

(Interestingly, through my mother's family, I am also eligible for citizenship in Israel and Poland. If I really wanted to I could have four citizenships).
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  #985  
Old Posted Aug 7, 2017, 10:16 PM
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Quote:
Minsheng Bank shows the danger of antagonising regulators
Financial Times

There are lots of reasons to be pessimistic about the prospects for China Minsheng Bank.

Some of them are fundamental, the sort of universal issues that portend weakness and therefore downside risk for investors. Crucially for the bank, there is a complex mix of finance and politics, given that several of Minsheng’s large shareholders have fallen foul of China’s crackdown on companies that have borrowed large amounts of money to finance a wave of foreign investments.

The likes of Anbang Insurance, Fosun, Dalian Wanda and HNA Group have infuriated regulators with their lack of financial prudence, their excess borrowing, and their investments abroad at a time when authorities are trying to limit capital outflows. Unfortunately for Minsheng, it has close ties with two of the four companies that are targeted: Anbang and Fosun.

Same crowd that acquired Grouse Mountain for C$200M ............... ?
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  #986  
Old Posted Aug 15, 2017, 4:17 AM
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Quote:
Originally Posted by Aylmer View Post
No one is a lifelong taxpayer. Before any of us got our first T4, we were children. Economically, we were contributing nothing, earning nothing and costing society dearly in free healthcare, free dental care, free education and subsidized activities for the better part of 16-20 years.
Someone who immigrates here is a fiscal gift - already educated and raised on a different government's dime, and ready to get to work and pay taxes here. If they require a few months or years of assistance, it still works out in our fiscal favour.

It's important for us all remember that any of us born here were ungrateful freeloaders for about two decades before becoming "lifelong taxpayers".
Except for when they bring their dependents, and declare zero income. Canada is (relatively-speaking) getting a better deal with immigration than any country despite widespread abuse of the system, but what i'm more interested in is the fact that even if we manage to close off all the loopholes and really only let in the best-of-the-best, certain SSPers will still object to all this money pouring into the economy and will want to limit the number of newcomers.

Deep down it's rooted in the mentality that Canada should remain white-majority, just like African countries are black, etc, rather than be based on the ideal of shared values.
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