A strong economy requires cash flow.
The vast majority of people earn money through working. They use that money to pay for goods and services. Business collect that money and use it buy product and pay their employees. A small portion is collected as taxes, which is used to pay for social and community services (roads, schools, police, health care, etc.). The money collected in taxes returns to the society.
The death knell to a democratic society is the hoarding of money. As money is removed from the economy, there is reduced cash flow, resulting in fewer employees, lower wages, cheaper goods, low quality services. Sound familiar?
To be clear, hoarding is the taking of money from the economy for an indefinite period of time. People saving for retirement are not hoarding — that money returns to the economy in a reasonable timeframe. Multi-millionaires and billionaires hoard money because it may never return to the economy. Multi-millionaires and billionaires, and their future generations, can live off the interest and residuals of their hoard.
For the past 50 years, traditional conservative and liberal governments have abandoned the people and have been “in the pocket” of the wealthy. Political corruption. Preferential treatment for corporations and the wealthy in terms of taxes and business deals. Privatize the profits; socialize the losses. When a corrupt politician leaves office, many are given a high-paying do-nothing position within the companies they have helped get rich.
A NovaConservative government works for the people!
A NovaConservative government will revise and simplify the tax laws so that the wealthy and corporations pay their fair share in taxes. We vow that regular Canadians will not see a tax increase.
A NovaConservative government will recover hoarded money and put it back into the economy.
A strong economy requires diverse economic sectors.
For the last 50 years, Alberta governments have capitulated to Big Oil, at the expense of all other economic sectors. This has led to the classic boom:bust cycle that Alberta is infamous for (not a good thing).
For the value-added initiative, all economic sectors need to be strong, and Alberta needs to be on the lookout for new sectors to develop. This will make Alberta resilient, stabilizing the economy, and creating quality jobs for Albertans.
- agriculture (sustainable)
- meat production (sustainable)
- logging (sustainable)
- energy production (fossil fuels)
- energy production (sustainable)
- high technology
- tourism
A NovaConservative government will strengthen and diversify Alberta’s economic sectors.
The national debt
It is not a coincidence that the reported wealth of Canada’s billionaires is comparable to the national debt. These people have removed billions and the government has to borrow money to maintain sufficient cash flow in the economy.
- 100,000 dollars per year corresponds to a person earning 50 $ per hour.
- 1,000,000 (1 million) dollars per year corresponds to a person earning 500 $ per hour.
- 1,000,000,000 (1 billion) dollars per year corresponds to a person earning 500,000 $ per hour.
The average Canadian home is around 500,000 $. Imagine being able to purchase a new home every hour, eight homes a day! 2000 homes per year! Hoarding this much money destroys the economy. If it was anything else, from magazines to shoes, this amount of hoarding would be considered a mental illness.
A person earning 50 $ per hour would have to work for 10,000 years to earn a billion dollars.
Failures of current and previous governments
Trickle-down economics
Corporate executives and business owners have convinced society that the only way business can succeed is with lower business taxes, and that lower taxes will give more business more money to pay their workers. This is the essence of the Trickle-down economy.
Nice in theory. In reality, Trickle-down economic model has resulted in stagnated wages, stagnant development, withering full-time employment, and increased corporate profits going to executives and shareholders. The rich get richer. The poor get poorer. Money is removed from the economy. Every study shows that Trickle-down economics fails to benefit everyday citizens, yet politicians continue to put forward and promote some variant of “cut taxes on businesses to stimulate the economy”.
The tax cuts of Trickle-down economics has resulted in a constantly growing CEO:worker salary ratio, now at over 320:1.
took hold from 1981 onwards, the wage ratio has increased to over 300:1. Higher businesses taxes — like that in the 1950s and 60s — will not increase government revenue. It will increase the quality of products and services. It will increase employee pay. It will be put into the economy and increase cash flow.
Foreign and megacorp ownership
When a foreign entity does business in Canada, the majority of the profits leave Canada. Foreign ownership is bleeding Canada dry. Foreign ownership is decimating Canada’s economy.
The size of a corporation matters. The larger the corporation (megacorp), the greater the transactional distance of the executives and the clients/customers. The drive becomes one of profit, because greater profits means greater income for the executives. Greater profit is achieved by degrading quality, monopolizing the market, using cheap offshore labor, colluding with politicians, and cutting employee pay and benefits. None of these benefit the employees or the clients/customers. Megacorporations are detrimental to a stable economy. Small and medium-sized corporations have executives that understand the market and have greater input into the day-to-day operation of the corporation.
A stable and resilient economy exists when money circulates within the economy, when there is fair competition, and with as few people unjustly enriching themselves (few corporate fat cats who do nothing).
A NovaConservative government will enact legislation heavily restricting foreign ownership, foreign influence, and promoting Canadian companies and competition.
A NovaConservative government will prioritize Canadians and Canadian corporations for government contracts, with the goal of granting contracts exclusively to Canadians and Canadian corporations as capacity builds.
Collusion with Big Oil
For over 50 years, Big Oil has influenced or outright controlled Alberta governments. Profits have streamed from Alberta to American executives and shareholders. Big Oil is known for socializing losses. Albertans have been left with toxic lakes, abandoned wells, and environmental destruction. No more. Big Oil can pay what they owe and leave, or they can face the new reality of responsibility.
Big Oil leaving is perfectly fine. Let Albertan and Canadian oil companies take over Canadian natural resources.
A NovaConservative government will hold corporations accountable, and will recover lost monies from socialized losses.
Corporate and wealthy taxation
Nobody likes paying taxes, but taxes provide the necessary social services that maintain a healthy populous, safe society, and strong economy.
Taxing corporations does not generate government revenue. Taxing corporations gives them a choice: pay taxes to the government or invest money in their company. Investing in their company through product research and development and increased employee wages makes the company stronger. Taxing corporations takes money that would otherwise be hoarded by executives and shareholders and puts it back into the economy.
Currently, there are gaping tax loopholes that allow the wealthy to never pay tax on their income. (An obvious sign that government has focused on ensuring the wealthy are benefitting at the expense of regular Canadians.) There are a myriad of changes that need to be made, including
- removing tax breaks that apply above certain income levels
- close loopholes that allow people to defer paying taxes indefinitely
- taxing investment gains (if the stock falls, they can claim a loss the next year)
- implementing substantial penalties for flagrant tax evasion (Panama papers, etc.)
A NovaConservative government will encourage corporations to invest in research and development and their employees.
A NovaConservative government will ensure the wealthy pay their fair share of taxes.
Collaborating with foreign agents
Current and historical governments — mostly conservative governments — have sold or licensed Canadian assets to foreign governments and foreign megacorporations. This should be illegal.
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