17cent: Toronto Turning Into Poverty City

meanwhile, our bozo the clown finance minister for canada, wants to give TAX BREAKS to HIGH INCOME 'earners'!!!!!!!!!!!


bozo and the bankers say:


Tax rich less to keep them in Canada, Flaherty proposes
TARA PERKINS AND LORI MCLEOD

November 24, 2007

Finance Minister Jim Flaherty raised the prospect yesterday of cutting income taxes for high-paid workers to keep them in Canada.

The man who has often been described as the populist Finance Minister suggested that it would not be an easy thing for politicians to do. But he said banks and other companies are being lobbied by foreign governments to move chunks of their operations to jurisdictions with better income-tax rates.

"We need to do more on the personal income-tax side because we still have marginal rates that are disproportionately high when I look at our competition," Mr. Flaherty told reporters in Oshawa. "And one of the things that politically is more difficult to do but it still needs to be done and that is in the higher earning categories between $100,000 and $200,000 a year in income."

The comments came as Ottawa revealed that it appears to be on track for record tax revenue this year. It estimated yesterday that the budget surplus for the first six months of fiscal 2007-2008 is $9.3-billion, up $3.4-billion from the same period a year earlier.

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The government has previously said it would use unanticipated surpluses to speed up debt and personal income-tax reductions. It announced that it would cut the rate for the lowest income bracket to 15 per cent from 15.5 per cent.

The Canadian Bankers Association seemed to welcome Mr. Flaherty's remarks yesterday, saying in a statement to The Globe and Mail that "all governments in Canada have to create a tax system, including corporate and personal, that is as competitive with, if not more competitive than, other countries to attract and retain businesses and employees."

Don Drummond, chief economist of Toronto-Dominion Bank, joked that he "would never want to dissuade anyone from providing tax relief to bankers. That is a great idea that should be supported by all Canadians."

But, he said, "if it's marginal personal income tax rates one is concerned about, the gaze should fall at lower income levels. There we truly have impaired the incentives to work, save and invest, because once various benefits are clawed back, individuals and particularly families keep very little from that last dollar earned."

William Robson, president of the C. D. Howe Institute, believes tax cuts at the top end of the income scale are a good thing. "We are a high-tax jurisdiction for the people in the $150,000 range," he said.

[link to www.theglobeandmail.com]

Ah Toronto can go to hell.
Its full of immigrants and homosexuals, whose half baked idea's have destroyed the city.

misery loves company, eh?

---new residential condos shatter price highs in toronto

TORONTO

An unnamed Hong Kong businessman has set a new benchmark for the priciest condominium in Canada, paying $25 million for a penthouse suite in Toronto.

Architect Roy Varacalli says the 7,500 square foot penthouse takes up the entire 80th floor of the $450 million skyscraper at One Bloor St. East.

That gives its owner an "absolutely spectacular" 360-degree view of the city.

The penthouse includes a six-metre-long indoor pool, an outdoor garden and a private elevator.

The previous winner in the high-price sweepstakes in Toronto is a unit in the Trump Tower, billed in August as Canada's most expensive condo.


*************************

---highest priced condo QUADRUPLES in price overnight - before it's even sold:


Tue. Nov. 13 2007

Condo mania hits as 1 Bloor St. goes on sale
toronto.ctv.ca

After paying people thousands of dollars to stand in line for a week in bone-chilling temperatures, investors finally got a crack at what is arguably the hottest property in Toronto.

Condominiums went on sale Tuesday night at 1 Bloor, located at the corner of Yonge and Bloor Streets. About 90 people have been waiting in line, holding spots for realtors hoping to secure a suite in the luxury building.

The demand was so high that developers raised the starting price to their units Tuesday morning to $500,000. Others are priced at more than $8 million.

The night before, the price range for the units was from $300,000 to $2 million.

"I have not seen this ever happen before in Toronto," said realtor Anna Cass, standing at the front of the line. "I've never seen a builder raise their prices so quickly, but it's the law of supply and demand -- this is business."



let the good times roll, creole!

Sounds all too familiar... There must be a recipe for class separation and neo-feudalism.

now keep following the trend here folks. real estate is in a frenzy in toronto (as witnessed by the condo prices).

but don't let the poor anywhere desirable property:

Toronto's subsidized housing agency defends expensive homes
JEFF GRAY

From Friday's Globe and Mail

Saying its tenants shouldn't be pushed out by skyrocketing property prices, Toronto Community Housing Corp. responded to questions yesterday from two city councillors about the subsidized housing agency's ownership of three homes in one of Toronto's more desirable neighbourhoods. The agency said it had already started its own review of its real estate holdings a few months ago

............enter, regent park - one of toronto's most notorious neighborhoods, but minutes from rosedale - neighborhood to the rich and famous, and minutes from the bank towers and condos of downtown:


(note - many residents of regent park were moved out, though some remained)


Condos, bank anchor plans for renewed Regent Park
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Oct 31, 2007 04:30 AM
Donovan Vincent
city hall bureau

The first tangible signs of Regent Park's new housing mix were revealed yesterday – two condo buildings that will be anchored by a Sobeys, Tim Hortons and a Royal Bank branch.

The $70 million, nine- and 19-storey structures at Dundas St. E. and Parliament are to be connected by a glass podium, with retail on the ground floor. The suites will go on sale starting at about $190,000 next fall, with first move-ins slated for spring 2009. They're part of Phase 1 of the remaking of Regent Park, in which the concentration of social housing will be broken up and replaced with a mix of housing types.

Toronto Community Housing Corporation is using the proceeds from the sale of land and market-priced condo units to build eight- and 22-storey buildings for about $60 million. The corporation's rental buildings will be about 60 per cent rent-geared-to-income, and include housing dedicated to seniors. Those buildings are now under construction and are set to be finished in early 2009.

Two more condo buildings and townhouses are to follow.

Other phases in the redevelopment – there are six in total – will be built over the next 12 to 15 years. The number of assisted housing units won't drop, Toronto Housing officials say, but some will be dispersed around the downtown core.

Toronto Housing has a $300 million capital repair backlog, which is why its partnership with the developer, Daniels Corp., makes sense, said Derek Ballantyne, CEO of Toronto Housing. It makes it possible to add density, mixed housing and commercial activity to the site.



---bla bla bla, the prime real estate is being reclaimed and being sold to developers is what's happening

It's only coincidence, I'm sure (?) that T.O is referred to as the G.T.A (Greater Toronto Area), which is also the same as G.T.A (Grand Theft Auto). I often watch the news and see how bad Toronto is now and think, wow, it really is G.T.A come to life. Gangs run wild killing innocents for no reason, there's driveby's all the time, robberies, hijackings, and god knows what else. Just like everyones fav video game.

BC joins the dance. bc and ontario are two of the 3 most populous provinces in canada. if quebec is also wallowing in poverty, then you can say the whole country of canada, is....let's see...........

first, bc:

B.C.'s child poverty rate worst in Canada: report
Fourth year in a row B.C ranked last by report
Last Updated: Monday, November 26, 2007 | 3:19 PM ET
CBC News
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A new report says B.C. had the highest child-poverty rate in the country for 2005, based on the latest available income numbers from Statistics Canada.

According to the report written by the B.C. Child and Youth Advocacy Coalition, one out of every five children lives in poverty.

It said almost 21 per cent of children live below the poverty line. The national average was just under 17 per cent.

It's the fourth year in a row B.C ranked last in the report.

Coalition chairperson Michael Goldberg said the province needs to come up with "a child poverty reduction plan, which has very specific targets, and timelines.

"That's been done in Newfoundland. Quebec has had one for a number of years. They have an anti-poverty act they have to follow and their figures are way down compared to most other provinces," said Goldberg on Sunday.

Goldberg said it's shameful that British Columbia has so many poor children despite doing so well economically.

"Maybe that's what B.C. needs to get very serious about, both the premier and the leader of the opposition," said Goldberg.

Coalition spokesperson Adrienne Montani said Sunday one of many disturbing statistics in the report is that British Columbia has the worst rate of child poverty among families where at least one parent is working full-time, all year.

"It says to me that we have a lot of families that don't make enough money to raise their kids in an inclusive fashion in society," said Montani.

"They're not able to access things that other kids are able to access. It means their parents are working for very low wages. It probably means there's a lot of family stress," she said.

With so many young families with parents working full-time and still unable to keep up with the cost of living in this province, Montani said the provincial government should raise the minimum wage to $10.50 an hour.


now, quebec:


voila, poverty:



Quebec’s relative poverty cannot be denied, the Montreal Economic Institute states


Montreal, May 09, 2006 - Not only is Quebec less wealthy than its neighbours but, contrary to a widely held view, it is not more egalitarian either, the Montreal Economic Institute says.
Quebec’s Relative Poverty :: Economic note on the living standards of people in Quebec



Although certain indicators appear to suggest that living standards in Quebec are comparable to Ontario levels, economist Norma Kozhaya says these numbers should be taken with a grain of salt since they are offset by other, more objective data that put Quebec in a less favourable light:

Quebec still has the highest unemployment rate among the Canadian provinces, apart from three of the Atlantic Provinces, with a rate of 8.5% in March 2006 compared to 6.3% in Canada as a whole and 6.1% in Ontario.
In 2005, 6.8% of the Quebec population was drawing social assistance, compared to the Canadian average of 5.2% and the Ontario level of 5.4%.
The net worth of Quebec households (their assets minus their debts) was $61,300 in 1999 compared to $101,400 in Ontario. These results are influenced by the fact that people in Quebec are far likelier to rent rather than own their dwellings.
Moreover, Quebec is outperformed by the other provinces in productivity per worker and productivity per hour worked. With no increase in productivity, there can be no improvement in living standards...

Information and interview requests: Patrick Leblanc, Communications director, Montreal Economic Institute, Tel.: (514) 273-0969 (office) / (514) 571-6400 (cell) / E-mail: [email protected]