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While I appreciate that this guy is trying to get more competition, it seems like a cop out.
We had a 'lower prices or else' statement, they chose to respond 'lol k' and then did nothing. He should tax the fuck out of them, AND get the competition minister involved.
If you're gouging on vital products, you're fucking scum.
He should tax the fuck out of them
Ok, but realistically now, how would you even do that. What would be the law you'd implement to allow you to do that? That's not how taxes work at all.
The gov't can request info from the CRA on profits the big grocers make, compare them to pre-pandemic numbers and adjust their tax rate.
The other way is to reintroduce taxation rules from the 70's (pre Reagan/Thatcher trickle-down stupidity) and force the companies to pay more for larger profits.
The govβt can request info from the CRA on profits the big grocers make, compare them to pre-pandemic numbers and adjust their tax rate.
You can't adjust the tax rates of INDIVIDUAL companies.
@girlfreddy @chris As far as I know all taxpayer information is confidential even from the government.
They can introduce a windfall tax, as in the specific kind of tax designed to discourage gouging.
the Government of Canada should consider introducing a windfall profits tax on large, price-setting corporations to disincentivize excess hikes in their profit margins for these items
Right, but it's broader than just targeting 3 large grocery chains. AFAIK there's no current law that allows the Government to tax an individual at a rate that isn't on the books, and something like this is still years away (it's just a recommendation after a year of study for starters).
It doesn't help anyone struggling to put food on the table in the short term sadly, but hey let's all just blast off into stupid land and suggest taxing them is the easy answer that will solve all of our problems. This isn't Facebook, and the original poster's suggestion was fucking retarded.
Who is saying only to tax the big grocery chains? It would also affect other industries (like oil and gas), according to the terms by which applicable price gouging is defined in the law. The point is to discourage unwarranted price increases by making them unprofitable after a certain point and according to specific metrics, not to punish specific industries. If you're not familiar with the concept, you could research it further and not just broadcast your assumptions or pretend it would be done in a vacuum where no other shorter term measures could be established.
I'm well aware of that, I'm referring to the original poster's thought thread.
Tax. Them.
If they still don't reduce profitability, tax them some more.
This is fucking grocery distribution and retail. It's not microprocessor research or cancer-care drugs, there's no "innovation" you're stifling. Tax them.
Basically, "go away before I taunt you a second time"
It is so obvious it is price gouging from big chains. Same product at a dollar store a block away from SuperStore is half price. Dollar Store consistent price throughout COVID, Superstore creeping up 25Β’ each week, until the point of "I can't justify buying this here" . And now SuperStore has electronic tags they change the price randomly up and down, as much as +$2 on a $4 item for a few days. There is no way to budget food basics with this nonsense. Luckily we have Fruiticana out west, where produce is typically half price of SuperStore pricing.
I agree, the small local grocers / regional chains used to be consistently more expensive than going to Superstore or Walmart. They have raised prices, but somehow not as much as the big guys. They still can't compete on some of the big volume staples like milk, eggs, pasta, and bread, but is it really worth saving a buck on a couple items just to pay more for everything else? In a way it's almost a good thing though, it's never been an easier decision to support local.
Nothing essential should be in private hands. NOBODY should be making a profit from anything essential. Everything deemed essential should be provided by the government at the lowest possible cost to the taxpayers. If the private sector wants a share they can be in charge of alcohol, drugs, cosmetics, swarovski crystals, celebrity car air fresheners etc...
Is it bad to let private companies compete with a public institution? If they want to do it for less, go for it, but if they charge more, people can use the public option?
We need public options for the entire supply and distribution chain