Meghan Drover

Financial Advisor, #nlpoli junkie and typical townie who has a penchant for words, times, family, Christmas, and a certain ginger accountant.

[Kim G C Moody @KimGCMoody]

My latest @financialpost article discusses the terrible CDN federal budget:

“The Canadian federal budget has been out for a week, which is plenty of time to absorb just how terrible it is.

The problems start with weak fiscal policy, excessive spending and growing public-debt charges estimated to be $54.1 billion for the upcoming year. That is more than $1 billion per week that Canadians are paying for things that have no societal benefit.

But the budget’s highlight proposal was the capital gains inclusion rate increase to 66.7 per cent from 50 per cent for dispositions effective after June 24, 2024. The proposal includes a 50 per cent inclusion rate on the first $250,000 of annual capital gains for individuals, but not for corporations and trusts. Oh, those evil corporations and trusts. There is a lot wrong with this proposed policy...

Some economists have come out in strong favour of the proposal, mainly because of equity arguments (a buck is a buck), but such arguments ignore the real world of investing where investors look at overall risk, liquidity and the time value of money.

The government messaging around this tax proposal has many people upset, including me. Specifically, it is the following paragraph in the budget documents that many supporters are parroting that is upsetting:

“Next year, 28.5 million Canadians are not expected to have any capital gains income, and 3 million are expected to earn capital gains below the $250,000 annual threshold. Only 0.13 per cent of Canadians with an average income of $1.4 million are expected to pay more personal income tax on their capital gains in any given year. As a result of this, for 99.87 per cent of Canadians, personal income taxes on capital gains will not increase.” (This is supposedly about 40,000 taxpayers.)

Bluntly, this is garbage. It outright ignores several facts...

The politics around the capital gains inclusion rate increase are pretty obvious. The government is planning for Canadian taxpayers to crystallize their inherent gains prior to the implementation date, especially corporations that will not have a $250,000 annual lower inclusion rate. For the current year, the government is projecting a $4.9-billion tax take. But next year, it dramatically drops to an estimated $1.3 billion.

This is a ridiculous way to shield the government’s tremendous spending and try to make them look like they are holding the line on their out-of-control deficits. The government is encouraging people to crystallize their gains and pay tax. That’s a hell of a fiscal plan.

There’s an old saying that tax should not wag the tail of the investment dog, but that is exactly what the government is encouraging Canadians to do in the name of raising short-term taxation revenues. It is simply wrong.“

This is one of the most ridiculous budgets ever released in my lifetime. I hope CDNs wake up to how the messaging is manipulative and how the fiscal & taxation policy is horrible.

Happy reading! https://t.co/3G6rR9KPhi

[Mark McGrath @MarkMcGrathCFP]

If you don't want to listen to me, take it from one of the brightest tax minds in the country.

[Meghan Drover @meghandrover]

I want to love anything as much as @NTVNewsNL loves posting pictures of Lisa Lynch and her cat.

[Eugene G. Manning @eugenemanning]

Voting is officially open to select the next Leader of the PC Party of Newfoundland and Labrador. 🗳

Check your email for the PIN sent by [email protected] and vote Eugene Manning as your first choice!

It's time to win! 💪 #nlpoli #TimeToLeadNL

[Eugene G. Manning @eugenemanning]

Together with MHA @DinnPaul, we will defeat the Furey Liberals in the next election.

Join us! 🗳 Voting opens on Wednesday, October 4th.

#TimeToLeadNL #nlpoli

[Eugene G. Manning @eugenemanning]

Power forward or stay stuck in neutral?

➡️ That’s the choice you’re facing in this PC Leadership race.

MHA @HelenConwayNL is supporting our movement because we can’t hold our party and province back any longer.

We’ve got a real chance for change and a clear path to victory. Join us and let’s put this thing in drive! 🚀

#TimeToLeadNL #nlpoli

[Eugene G. Manning @eugenemanning]

Only 4️⃣ weeks left to go in the PC Party Leadership race, and we’ve been busy all week getting our winning message out there.

✔️ Our team is ready to lead us into the next election — stay tuned to CBC, VOCM, and NTV this week to hear why we’re in it to win it.

#nlpoli #TimeToLeadNL

[Meghan Drover @meghandrover]

@Toddperrin @Mallard_Cottage brb: drooling

[Meghan Drover @meghandrover]

@eugenemanning’s ability to pull together an outstanding group of volunteers for this campaign is a testament to the type of leader he is. I’m incredibly proud to be a part of it and looking forward to building on the momentum he has created.

[Kristina Ennis @kristinaennis]

I have met some incredible people since becoming involved in politics in 2019 and I count my lucky stars every day to now call many of them my friends - and the more the merrier. I’m so proud of Eugene and the team - wow. What a day. I’m not shocked but I am real proud 🥰 #nlpoli

[Eugene G. Manning @eugenemanning]

“The PC Party of Newfoundland and Labrador needs renewal and growth. That’s why I’m supporting Eugene Manning!”

Big thanks to Helen Conway Ottenheimer, MHA for Harbour Main for the support!

Join @HelenConwayNL and the rest of our winning team at https://t.co/Ba5stZqN2M

#TimeToLeadNL #nlpoli

[Eugene G. Manning @eugenemanning]

Our team has the energy and the will to win. Let’s rebuild Newfoundland and Labrador together.

Join the team to win at https://t.co/XrPQIevXyd

@DinnPaul #TimeToLeadNL #nlpoli

[Meghan Drover @meghandrover]

I’m supporting Eugene! :) let’s goooooooo :)

[Eugene G. Manning @eugenemanning]

“We have longstanding issues in Newfoundland and Labrador that span across multiple sectors and systems that severely impact our social and economic well being, such as food insecurity among children, access to childcare, chronic school absenteeism, and high burnout among critical professions like nursing and teachers.

We need pragmatic, yet empathetic voices in every corner, who have the skillset to inspire and empower those around them to improve our province in tangible, measurable ways. I know we can create generational change right here at home. Eugene is a competent leader who can set the tone that Newfoundland and Labrador is laser focused on our greatest resource—its people.”

Happy to have change makers on board who share a passionate commitment to our province.

Join the team today: 👇

☑️ https://t.co/uBpCK82U2j

#TimeToLeadNL #nlpoli

[Eugene G. Manning @eugenemanning]

Newfoundlanders and Labradorians don’t have a subway to get to work. Most can’t ride a bike to their medical appointments, or walk to pick up groceries.

But, we can stand up against this punitive carbon tax that hurts our rural communities the most.

Sign here: https://t.co/fvRDHvi0rs

#TimeToLeadNL #nlpoli

[Meghan Drover @meghandrover]

@ChinchedBistro I have no idea what I just watched but I want more 🤣🤣🤣

[Eugene G. Manning @eugenemanning]

If you live in a rural community you have to drive. And it just got more expensive.

The Liberal Carbon Tax is a Rural Tax. Sign if you agree: https://t.co/Ny1NQb6tCe

#nlpoli #TimeToLeadNL

[Meghan Drover @meghandrover]

@eugenemanning is a pretty solid guy and I’m looking forward to voting for him for leader of the @PCPartyNL in October. Sign up at https://t.co/CyDJfmnuwu

[Eugene G. Manning @eugenemanning]

“I support Eugene because I truly believe he has the energy, desire and ability to transform ideas into reality. Now, more than ever, we need a leader that will be able to bring people together from every corner of this province to put us on the right path, and Eugene is that leader.”

Thanks for your support, Meghan! Let’s make change happen together.

Sign up, in order to vote, today: https://t.co/Ba5stZqN2M

#TimeToLeadNL #nlpoli

[Meghan Drover @meghandrover]

Super excited for the year ahead. What a crew!!!!

[Rotary St. John's NW @RotaryStJohnsNW]

July 1st is the start of a new Rotary year. Lots of good things happening in the Rotary world! @jimburtonnl @Mcaines001 @meghandrover

[Eugene G. Manning @eugenemanning]

Dr. Paula Cashin is Canada’s first Indigenous radiologist and nuclear medicine physician! 💪 As a Mi’kmaw physician who has worked in rural Newfoundland since 2009, she is an advocate for equity, diversity, and inclusion in medicine. I’m so proud to have her on my team.

Thank you, Dr. Cashin, for believing in my vision for change in healthcare.

Join our team and sign up, in order to vote, today: https://t.co/Ba5stZqN2M

#TimeToLeadNL #nlpoli

[Lynette Powell @tlynettepowell]

The consequences of a broken system are seen in our hospital every day. Late presentations of cancers, treatable diseases presenting in catastrophic ways, mental health crisis because no early intervention. Not addressing #AccessToCare is unconscionable #nlpoli