Comments on: Council’s fiscal irresponsibility

By: Vincent Clement

Vincent Clement — Fri, 26 Jun 2009 11:44:35 +0000

“From a one time property tax increase? Not likely unless tax revenues start increasing at a similar rate per annum.”

You misunderstood me. I did not mean ‘increase the tax for one year’. You only need to raise the property tax rate once to generate additional revenue in perpetuity.

By: Vincent Clement

Vincent Clement — Fri, 26 Jun 2009 11:38:28 +0000

It appears that the City has the unfunded liabilities revalued ever two years. I need a source for that $290-million number.

“Furthermore, if health care costs are increasing “11.5% grading to 5% per annum” after 2018, among other benefits, where do you suppose the revenue is going to come from to pay for it?”

That 11.5% is used to calculate dollar value of the unfunded liability. It is not in addition to the unfunded liability.

By: chrisschnurr

chrisschnurr — Thu, 25 Jun 2009 15:05:29 +0000

Thanks Vincent. This is the response I was hoping for.

So then what does the $290-million include?

Lets see apples to apples.

Otherwise please explain how the unfunded liabilities for PRBs increased from $170-million to $290-million, when past trends were an increase of about $10-million per year. $290-million is quite the substantial jump.

Particularly when in 2007 the liability stood at $198-million.

Nearly $100-million in one year?

Because according to my rough calculations – PRB liability should be in the range of of about $220-million. Still significant – but what are we comparing then when the $290-million figure is thrown about. Drama? Or real numbers?

Furthermore, if health care costs are increasing “11.5% grading to 5% per annum” after 2018, among other benefits, where do you suppose the revenue is going to come from to pay for it?

Incidentally, when the total liability for the corporation in 2007 of $253-million is costed out with an increase of 10% – the amount is $280-million.

From a one time property tax increase? Not likely unless tax revenues start increasing at a similar rate per annum.

Sorry Vincent. I didn’t raise the issue of PRBs and the financial hardship the city is facing. The mayor and certain councillors did.

So where’s the plan to effectively deal with it?

Or shall we react again in 2011 during the next contract negotiations, or in a couple of years?

By: Vincent Clement

Vincent Clement — Thu, 25 Jun 2009 13:15:02 +0000

“When this is done – we find the unfunded liability in 2005 was $214-million as opposed to the Mayor’s claim of $170-million.”

Not so quick. It depends what people are referring to. The $170-million represented the PRB unfunded liability in 2005. The $214-million represents the total unfunded liability which includes PRB, WSIB and vested sick leave, vacation and overtime.

Since when does a one time property tax increase of 2.5 to 5 percent represent a “massive property tax” increase?

By: jrlo

jrlo — Thu, 25 Jun 2009 01:55:04 +0000

No, not “everybody” – I like strikes. I love a good protest march, been to them all, Quebec city in ‘01, Ottawa, etc, I like pretty much anything that dumps on ruling class ‘establishment’ parasites (that’s what we called them in the 60’s). Blogs are good too!
Strikes and protests are very good things indeed, lest there would be no social progress whatsoever if left to our moneyed aristocrats.
And garbage strikes are especially good because all you environmental slackers and slobs finally get some idea how much trash you actually produce in pursuit of your big pig consumerist lifestyles.
‘Back to work’ legislation is just the heavy hand of the jackbooted thugs coming down on our heads, and police are little more than the enforcement arm of the ruling classes.

As you can see, my 60’s hippy ethic has not changed much. If anything, it has become reinforced by life in Canuckistan.

Many people do not feel this way today. They think: ‘there, but for the good grace of the rich and powerful, go I.’
They seem to think ‘rights’ are something granted to the peasants by our lords and ladies.
They have things backwards.
We call these people ‘conservatives’ and also, morons.