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Housing Crisis, Packed Hospitals and Drug Overdoses: What Happened to Canada?
(www.bloomberg.com)
this post was submitted on 30 Mar 2024
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Canada
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Why?
Taxes are on revenues, not gross profits. That's why EBIT exists as a performance measure.
As a quick example of a made up corp:
Gross profits 1.1B
COGS + OpExp 1.0B
EBIT 100M
Taxes 10% (30%)
Revenues 90M (70M)
Now mom and pop barely alive
Gross profits 500k
COGS + OpExp 500k
EBIT 0
Taxes 10% (30%)
Revenues 0 (0)
Hey genius, people don't continue on with businesses of zero net. Taxes in many provinces are at the point what would be otherwise profitable businesses aren't worth it, that's why you see so many abandoned. Taxes aren't just on revenue, they're on every aspect.
Not a genius, just a bit of experience with small non-profits that share commonality with small businesses.
They absolutely do. A lot of my friends are professionals that run net zero after they pay themselves.
No, they are abandoned because they failed or the owner didn't want to run them anymore
Yeah sure, but that has to do with an increase in COGS, not the increase of tax on the business. There as soany impacts on COGS that you can't narrow it down to a single thing. Even large corps switch between vetricalizing and not depending on situations beyond more than just tax.
Lets break this down for you. Take beer. a bar doesn't pay gst, pst or lct when it buys it, only when it sells it, but there's already an excise and other taxes on it long before it reaches point of final sale. so say 45-55 dollars price a 24 case for the liquor store or bar if in a province with a form of LCB monopoly yet. the bar can't sell it for less than 70 bucks or it's paying you to leave with it. 75 now as of the federal increase depending on province, just to not lose money selling beer to leave the premises, and you don't want to increase it to a point you make money off that, because it's at least getting people in the door because you're price matching the liquor store, Then the carbon tax. the bills. the taxes on those, the tax tax tax on tax. if you do manage to make any money after all that, they tax that too. Small business books look like the shit people used try kill the sheriff of Nottingham and prince john for.
That's a long winded explanation for saying taxes are one part of COGS. Do taxes impact COGS? Absolutely. But so do other regulations, market pressureus, trade deals, weather, road repairs, train breakdowns, flu season intensity, water table levels, how much commission the sales guy gets, etc, etc, etc.
Awww. suddenly all the oh so serious and real arguments, totally not bullshit theories, go away when actual numbers appear.
I hope you get to live in the Canada you want. We're almost there anyways. Look around, how on earth does any of this make you feel like it's worthwhile?
This was an absolutely wondrous morning read, thank you!
You people amaze me. Do you really want to live in the Canada that's coming based on the trends of today? c-63 is coming, this entire conversation would be criminal under it.