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| How our tax system discourages self-relianceJohn Stapleton, National Post Friday, January 04, 2008 The article talks about people relying too much on the tax system that they don't work anymore because they rely in the welfare system of our government in Canada. A lot of people take advantage of our system. David Miller, a mayor in Toronto was mad when a number of large companies were willing to invest in children and the children’s parents didn’t want them to work since if they work they will lose their benefits from the government. If a person currently receives social assistance then he begins to work the benefit program would then take money back, that’s why a lot of family prefer their children not to work. http://www.nationalpost.com/Story.html?id=213822 In chapter 4 we learn about goverment and their taxes. Marginal tax is related to this article because as their income goes higher they pay more tax thats is why they prefer no incoming or low income so that they dont pay the tax rate and instead they would get certain benefits.the federal should impose a system where it monitors the individuals who needs assistance and help them and if they just don' do anything at all then let them be and cut their benefits or assistance because the goverment cannot help them if they dont help themselves. I feel that a lot of people really use the government’s welfare tax benefits for their own good. This really affects a lot of children nowadays because instead of working their parents just tell them how the system works and that working would interfere with their benefits but the main concern is that by having parents like this children wont have any future at all. They can’t rely on the system forever. They need to start working sooner or later to have better future. We cant blame the government too for having this system because they are just concerned for those who really need this financial aid and they have these system to help us but not to be abused which is what is happening. | | |
| In the article who's making economic policies?Bruce Johnstone, Leader-post financial editor said that the Saskatchewan scheme should'nt be used as an excuse to get rid off responsibilities for decision-making on economic development issues”. But he still says that it was designed like that. In the Saskatchewan policy book, it states that Enterprise Saskatchewan is "the basis for the economic development plan of a Saskatchewan Party government" and it will perform "with the overall support of the Premier and Executive Council." It also states in the policy book that the Saskatchewan Party's support for The Crown Corporations Public Ownership Act only extends to the four major Crown utilities which are:SaskTel, SaskPower, SaskEnergy and SGI. These things wasn’t reported to the public(voters)during the election.which might affect the public decision on who they are going to vote. http://www.canada.com/reginaleaderpost/news/letters/story.html?id=4037666e-98d6-4fc3-8638-ea68fb84118b In chapter 3,we learned about government intervention. Privatization can also happen which is discussed in this article. Privatization is when a government ownership transfers to private ownership. We also learn that crown ownership can affect the public in many ways both good and bad if not guided properly by the government because they can manipulate it like if they want their prices to be higher and even if it is not reasonable they can still do that because people will still buy from them since they are the only one selling that kind of group that’s why we need government intervention they set limits and restrictions. I think the Saskatchewan party should still follow what the policy book says that the government should be the one who makes decision. Crown companies need the guidance and support of governments because if not then they have control and can do anything, which can affect the public very much. Government officials of course have the public’s best interest on mind so we should trust them instead. | | |
| Hotel, airline rates predicted to rise The cost of hotel rooms and airline tickets is predicted to rise in 2008 even if U.S.’s economy is slowing down, the growth and demand outpaces supply increases. "Even as economies cycle, the demand to be with your customers and the demand to meet with your colleagues is just a given fact in this economy," said Mike Streit, vice-president of advisory services at American Express Business Travel. "Supply and demand are bigger drivers than anything else," he said. Economy airline tickets are supposed to increase from 1-4% and business class from 5-8%. Hotel rates are seen jumping 11 per cent to 14 per cent globally. The biggest gains are seen in the Asia Pacific region, where hotels are expected to charge 18 per cent to 22 per cent more for a night's stay, American Express said. http://www.canada.com/victoriatimescolonist/news/travel/story.html?id=c06a5bff-045e-4387-b4ef-f78dbe786820 The cost of travelling might be more expensive this coming 2008 because airline tickets and the cost of hotel rooms will increase. Since the demand of the tourist for airline seats and hotel room is increasing then the price would increase because more people demand for it. airline tickets and hotel rooms are compliment products that is why they affect each other. if one increases then the other is affected too. airplane tickets and hotel rooms are elastic in demand because a little change in the price would affect the demand of the consumers for those products. instead of taking a trip this coming summer i could just tour around vancouver using bus or a car it will be more fun and less expensive. | | |
| by:David Berman Gold is scarce that’s why people love it. People are willing to pay a large sum of money for gold. In National post, David Berman said " People love it because of its traditional hedge against inflation". Ever since before, when people lose confidence in paper money, they use gold as a currency and trade with it. Gold had been a valuable commodity ever since before. Greg Tkacz, a researcher at Bank of Canada said that "gold can predict inflation in various economies and up to two years ahead of time, even as sophisticated investors have other means of offsetting rising inflation using the futures market". In other words, gold is the best inflation predictor for developed countries such as Canada, Australia and other more. Greg tkacz also noted that when the price of gold increases by 10% the Lonnie’s value rises by 5%. http://communities.canada.com/nationalpost/blogs/tradingdesk/archive/2007/06/21/how-gold-can-predict-inflation-ahead-of-the-bell-june-21-2007.aspx In chapter 1, we learned about scarcity and opportunity cost. This article is related to our scarcity topic of the chapter. Gold is scarce that's why people love it and pay a high price for it. The scarcer it is the more valuable it is to the people. Since gold is hard to get nowadays, people demand more and the higher its value is. Gold is a natural resource that can never be reproduced. Gold is scarce because we don’t have unlimited access for supply of it. Once all our gold resource is gone, gold’s value will be inflated and there is more demand. In my opinion, gold is really a valuable asset. Since gold was used for trading before the people also developed a conclusion that when there’s no paper money anymore they can use gold to trade for things they need like food. Gold is also valuable because it is hard to get . People who mine for gold risks their lives to get it. People who extract gold needs to separate it from sand and soil, it takes a lot of time to get the finest finished product of it. When you add the time and effort of the people plus the limited resource of gold, you will realize why it is scarce.
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