Morning Java: 10% Property Tax Increase!

Morning JAVA: 10% Property Tax Hikes!

Toronto City Council Approves Massive Tax Hikes

Yesterday afternoon, Toronto city council approved the new Mayor's first budget which includes a massive 9.5% property tax increase, originally proposed to be 10.5%. Toronto, Canada's biggest city elected Olivia Chow last June after former mayor John Tory resigned after being exposed in a scandal regarding sexual relations with a staffer. Tory had just been re-elected in 2022 and was into his third term as mayor.

Enter Olivia Chow. She didn't just appear out of nowhere. This career politician can't seem to find a regular job. The only jobs she seems to find are elected positions. She was first elected a school board trustee in 1985, a post she held for 6 years. Then, she was elected Toronto city councillor in 1991 along with her husband, Jack Layton (more on him in a bit). After that stint, she went all the way to Ottawa as an NDP MP (New Democratic Party Member of Parliament).

Then, she tried to run for Mayor of Toronto in 2014 but failed in her bid. Then, she tried again to run as an NDP MP and again failed. Finally, she tried again last year and was elected and get this, the total number of candidates running for mayor amounted to 102 people. Somehow, she beat them out of the race and claimed the mayor's seat.

One of her first remarks was that she was aware that it's tough to live in Toronto with the high cost of living and lack of affordable housing. So, of course, for her first budget, amounting to a massive $17 billion, she proposed hiking property tax hikes by 10.5%. Personally, I don't see how that helps with affordable housing in any way.

Fortunately for Torontonians, the tax hike was reduced by a whopping 1% to 'just' 9.5% and hey, the cops got an extra $20 million. That's what Torontonians get for electing this career politician who's never held a real job in her life, from what I can see. She certainly isn't short on money. As soon as she was unelected out of office as MP, she was then entitled to a gold plated pension which former Ms can start collecting immediately. Most, of not all of them do start collecting right away. This is well known among Canadian.

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Let's not forget her deceased husband, Jack Layton. He too, was a federal MP and leader of the NDP. As his wife and beneficiary, Chow is now collecting his pension. That's two pensions, isn't that nice? As for Jack Layton, he's the reason Justin Trudeau is still clinging to power.

Layton died in August 2011, after getting re-elected as an MP and the leader of the NDP. Thing is, he didn't tell anyone he was ill. He had fought cancer before and after his death, it was discovered that (prostate) cancer had struck again. Layton did not disclose this before and during the election campaign in the spring of 2011. We only found out upon his 'sudden death' that he actually had terminal cancer. He knew he was dying.

The way I and many fellow Canadians see it, he lied to the Canadian people in order to get his party re-elected. Now, we have to deal with his replacement, Jagmeet Singh who is very unpopular in Canada for forming an alliance with Trudeau's minority government, keeping them both in power until the next election in 2025. With these two clowns, we've had lockdowns, vaccine mandates and a massive trucker protest that has since spread around the world.

Now, his wife is the leader of the most populous city in Canada and the people of Toronto are getting what they deserve, a massive unrealistic property tax hike. Torontonians know exactly who Chow is and always has been, nothing but a career politician sucking off the taxpayer's tit! They voted her back in anyways.

Toronto, you wanted Chow as Mayor, this is what you get. This same woman, whom upon getting elected as mayor stated she understood how expensive it was to live in Toronto, just made it a lot more expensive to live in Toronto. No, she doesn't understand the plight of the people. Not with these multiple gold plated pensions she's receiving on top of her new salary as mayor of Toronto. Chow previously said just a month ago she didn't want a salary increase but the Toronto Sun newspaper reported otherwise, saying her salary is going up. Lord knows she could use the extra cash, eh?

Chow and her deceased husband grifted their way to the top. Torontonians, of all people are well aware of this. Still, they elected her as mayor of Toronto. Let's see how well this gigantic tax hike goes over with Torontonians when they see their first tax bill of the year. Are we about to see another massive protest in Toronto.

By the way, Toronto's city budget of $17 billion is a record number. As for Toronto mayors, they have a seedy record. The present mayor is doomed with these ridiculous tax hikes. The last mayor resigned because of sexual impropriety. The mayor before that was Rob Ford. Remember him, the crack smoking mayor? Now, his brother Doug is the Premier of Toronto and we can't seem to get rid of him either. He was one of the four Canadian Premiers who sided with Trudeau when Trudeau tried to impose the 'Emergencies Act' (formerly known as the War Measures Act) in February, 2022. This move was very recently ruled by the courts as ILLEGAL! See the pattern here? I do.

I live about an hour's drive west of Toronto. I hope that's far enough!

That's it for this morning's coffee chat

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Name's Joe and I live in Ontario, Canada. I like writing on a wide variety of topics. I enjoy keeping track of markets, investing and commodities and the crypto sector. Also do some coding for web browsers.

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