A major problem facing Canada is this government having invested in a world view that is likely going to increasingly run contrary to what is going to happen in the United States under Trump and possibly the UK under May. Canada is a part of this 'transatlantic Anglo connection' and it may find itself on the wrong side on a couple of issues. Moreover, it's worth keeping an eye out on countries like Germany, France and Italy in their upcoming election and whether there will be a 'Trump effect' on their election outcomes.
A couple of philosophical things to keep in mind. Under Trump it's clear his administration is going to handle taxation differently from Obama and may cut them across the board (all classes and corporate). There may even be a simplification of the tax code which has become burdensome on taxpayers. This will spur growth in the U.S. economy. Contrast this to Canada's decision to increase taxes and spend in a contracting economy.
In addition, Trump has appointed a climate skeptic to the EPA. Again, this is contrary to Canada's over-dedication to international climate change accords that are not beneficial to our economy which will negatively impact our growth. Canada is a resource rich and with resources still playing a crucial role in our semi-diversified economy. Trudeau aims to impose a national carbon tax will have further repercussions while Trump will probably increase oil production. The Americans quietly increased them under Obama and are poised to increase this still. In other words, the one area where Canada has a competitive advantage of sorts, it will cede to the United States. The pipelines have never been more important now.
Never mind Trump may make changes to Obamacare and possibly repeal it outright while prepared to negotiate with companies to keep business in the USA.
What does this mean for Canada? It means the Liberals are going to need to pivot, adapt and change whatever plans they had in place for this country
Or else it may put us behind the eight ball.
Do I have confidence in the Liberals?
Not based on what I've seen thus far. They're more focused on vapid narratives than governing based on realities.
A couple of philosophical things to keep in mind. Under Trump it's clear his administration is going to handle taxation differently from Obama and may cut them across the board (all classes and corporate). There may even be a simplification of the tax code which has become burdensome on taxpayers. This will spur growth in the U.S. economy. Contrast this to Canada's decision to increase taxes and spend in a contracting economy.
In addition, Trump has appointed a climate skeptic to the EPA. Again, this is contrary to Canada's over-dedication to international climate change accords that are not beneficial to our economy which will negatively impact our growth. Canada is a resource rich and with resources still playing a crucial role in our semi-diversified economy. Trudeau aims to impose a national carbon tax will have further repercussions while Trump will probably increase oil production. The Americans quietly increased them under Obama and are poised to increase this still. In other words, the one area where Canada has a competitive advantage of sorts, it will cede to the United States. The pipelines have never been more important now.
Never mind Trump may make changes to Obamacare and possibly repeal it outright while prepared to negotiate with companies to keep business in the USA.
What does this mean for Canada? It means the Liberals are going to need to pivot, adapt and change whatever plans they had in place for this country
Or else it may put us behind the eight ball.
Do I have confidence in the Liberals?
Not based on what I've seen thus far. They're more focused on vapid narratives than governing based on realities.
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