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Comments Effecting Canadian Events – Ken McGregor

Is Canada being Greekinized?

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Looking at all the troubles in Greece today its hard not to look at how they got into their financial woes and if we are not following the same path. Todays working and retired Greeks have spent all their money, robbing the futures of the young. Wallowing in lavish early retirement benefits free health care and education for years, they have left over 50% of the youth unemployed with nothing. no future no hope. with their economy in a shambles. Are we Canadians going down the same path doing the same to our youth and economy?

Its become clear looking at the bigger Canadian provinces the entitled group is becoming the majority. With the Liberals being voted back  in Ontario even with its dismal track record and riots in Quebec, the public doesn’t want to give up any benefits regardless if they can afford them or not. The left leaning socialist politicians just keep blaming Western Canada for all their problems and  promise more each election.  Now the public feels its their right for free daycare, healthcare, education and retirement benefits just to mention a few, just like Greece.

Greece has already run into the problem of not being able to tax the earners any more. Presently an earner making between $15,000 and $40,000 has approximately 55-60% deducted from their paycheck in taxes/fees and pension deductions. The top income tax rate is 45% plus social security payments of 16%, property taxes, an average VAT of 12% plus any additional municipal and government fees. Hardly worth working. And then there is Canada with an average total tax and fee rate of over 40% and creeping upward. And remember the 40% is a Canadian average. the bigger provinces are already Greekinized, inching their way to 50%.

It’s also interesting to note that the Provincial Health Care is higher than Greece social services and health care combined. Most provinces pay over 40% of their budget for health care , Greece pays only 32%.  looks  like we aspire to entitlement using Greece and Europe as our role models.

And then there’s the debt. As we now know Greece is broke and looking for handouts since it cannot borrow any more funds to keep it afloat. Lucky for Canada that we can still borrow since we are over one trillion in debt between the provinces and the federal government. So much for our free entitlements. Were using other people’s money to support our lavish entitlements  just like Greece did.

With the ever-increasing tax burden falling on the top 50% of  tax earners, especially the top 10%. Canada , like Greece cannot continue raising taxes and living on borrowed money. The idea to make the corporations pay didn’t work for Greece either. When Greece raised the expenditures of corporations they became less competitive and started producing less.

The parties over for Greece. Now they have to go home and sober up just like Albertans and Canadians will have to do in a decade or so if we don’t stop our foolish spending and rid ourselves of this entitlement mentality. and vote in governments that will take real leadership and build on what we have and not on what we can borrow.

Please make a comment below or email me direct at

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