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js97 said:
Boy, you've got a hate on for capitalism (and reality in general)... Ironically enough, you're posting on a board that is sustained and funded by pricey condo ads, bought up by rich capitalists...

Let's look at facts. One of those banks contribute more to the tax system, and quite frankly employment, then all the occupiers across Canada. So why the hate on again?
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I notice, in looking at facts, you chose not to answer how much tax the banks paid (to make it fun, answer the question relative to profits) or where they are domiciled. All of which really begs the question of why our government chooses to grossly favour the economic interests of a tiny fraction of society at the expense of the rest.

I guess we could continue to shout past one another that each of us doesn't have a grasp on reality (how is that different from any other message board "conversation"?), but I'll save us the time by acknowledging that I do not agree with your assessment of "reality" and note that you seem to reciprocate.

I understand that there are people who see the world differently from me; who claim that capitalism is a positive force and that the west is a shining beacon of light, blah, blah, blah...

If I had to admit to "hating" anything, it would be the people who argue that the political system in the west represents something other than a mode of exploitation that deviates entirely from its stated purpose of fostering the wellbeing of humanity. I think it might be fair to argue that, in relative terms, our system is less corrupt and exploitative than some others, but I don't see how it could be constured as "good" or "just" in absolute terms. That may make me a "hater of capitalism", but (unsurprisingly) I think it just means I'm observant. Also, I think it's pretty simplistic to label someone a "hater of capitalism". For one thing, it presupposes that what we have is, in fact, "capitalism" (as opposed to cronyism, oligarchy, corporatism, etc.). I know plenty of people who consider themselves "pure capitalists" who, much more than me, hate the way Canada's governments have favoured our banks.

js97 said:
But back to 'unsafe' neighbourhoods, I compare sometimes because I feel this thread is somewhat unwarranted. I would argue that there really aren't any 'dangerous' neighbourhoods in Toronto. Hence the US comparison I guess.
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I wholeheartedly agree, although I suspect we would disagree as to which direction we are being taken by our federal/provincial/municipal governments.
 
voxpopulicosmicum said:
Doesn't mean they're not stealing money. How much tax do you think banks pay, and in what country are most Canadian banks legally domiciled?
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I know this has to be a trick question, but I'll bite anyway. The Canadian banks are legally domiciled in ... Canada!

(The Big 5 have oodles of subsidiaries in the Caribbean, perhaps you're thinking of that. But it is surprisingly hard to hide the profits form Canadian banking operations down there. They pay a LOT of tax.)
 
Are banks' holdings not predominantly held by trusts resident in the Caribbean? Do those jurisdictions of residence not have tax treaties with Canada that mean the effective tax rate is a fraction of what it would be if held in Canada? Yes, they may pay oodles of tax, but what is their effective tax rate? Is their effective tax rate the same one as you or I could hope to achieve (assuming we are unable to procure a bank licence)?
 
voxpopulicosmicum said:
Yes, they may pay oodles of tax, but what is their effective tax rate? Is their effective tax rate the same one as you or I could hope to achieve (assuming we are unable to procure a bank licence)?
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Well RBC for example pays taxes of about $1.5 billion each year on worldwide income of about $6 billion - a 25% rate. They are able to shave about $500 million a year using tax havens - but that is coming out of foreign taxes, not Canadian taxes.

That's the theory anyway ;-)
 
k10ery said:
Well RBC for example pays taxes of about $1.5 billion each year on worldwide income of about $6 billion - a 25% rate. They are able to shave about $500 million a year using tax havens - but that is coming out of foreign taxes, not Canadian taxes.

That's the theory anyway ;-)
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Thanks for setting me straight on this, especially putting figures to abstract concepts.
 
Canadian bank dividend funds are very popular and provide great returns to Canadians. They do very well. I'm sure a lot of pension funds hold Canadian bank interests. They are relatively safe investments.
 
voxpopulicosmicum said:
Thanks for setting me straight on this, especially putting figures to abstract concepts.
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You're welcome! Before you mentioned offshore trusts and I bet that is a giant tax loophole for rich folks. But they get that deal whether they invest in bank stocks or something else.

Someday the mods are gonna ban me for offtopic posts. So I'll say that if we're looking at white collar crime, Rosedale is the most dangerous neighbourhood.
 
Hey guys,

Me and my girlfriend is going to rent a place on Berkeley Street. (just off Parliament Street)

We will be walking from Dundas Station to Berkeley Street a lot.
Is there any areas which we should avoid between these 2 areas?
 
Not that I subscribe to any of that this area is bad stay away nonsense, I have to admit your post made me chuckle...

I would have no problem walking from Berkeley to dundas station, but i you really had to ask, I think you're in for quite the shock. FYI, take the streetcar, it's faster
 
Senght said:
Is there any areas which we should avoid between these 2 areas?
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Absolutely. You should avoid the south side of King Street between Sherbourne and Princess. You can smell that new Indian take-away restaurant half-a-block away. It's delicious, and hard to walk past without getting a curry. It is dangerous to your wasteline.

Berkeley and Parliament don't intersect - they run parallel to each other (on and off) for a mile from Carlton to Esplanade ... so you're not going to get very detailed advice (or sarcasm) without being more detailed.
 
The Star has a map of homicides in the GTA in 2011. They seem pretty well distributed, with perhaps more on the west side of Yonge than the east.
 
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