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Ontario Budget: Coming Into Focus

Historical opinion post from May 2007 when Dalton McGinty and his Liberal Party ran the province of Ontario. Here is the actual commentary on the Ontario Budget 2007

Ontario Budget 2007

More information is starting to leak out about the Ontario Budget due out today:

  • As I mentioned yesterday rumors of a gradual raising of the minimum wage to $10.25 per hour (over an unknown period of time)
  • A “balanced” budget for the first time in a while for Ontario. What “balanced” means is open to interpretation.
  • Some green initiatives for the environment

So what? Well that is what one member of parliament is saying:

“ When you see that Dalton McGuinty’s total spending has gone up by some $ 20 billion, a 34- per- cent increase, that takes your breath away,” Conservative member of Provincial Parliament Tim Hudak commented.

Very true, of course who left them with the fiscal mess? Bob Rae? No, can’t use him as a whipping boy any more.And from the far left we have Howard Hampton

“ I think we’ll get a budget laden with more McGuinty promises. People will have to take those promises with huge dollops of salt.”

But salt is bad for my blood pressure Mr. Hampton!My guess is there will be a few election promises closed on, given the next election is in October, and a lot of trumpeting about balancing the books 2 years earlier than they promised (which is a good thing, but who is auditing these books?). Would be nice if he cut the OHIP tax he created now he has all this money from the Federal Government, but I suspect that tax is here to stay.

Oh, and in other news, remember all those rants I have had about lottery tickets and such, and how they are a waste of money, evidently there are “ethics” issues with the selling of them as well, at least from the CBC’s point of view, read here about Lottery Fraud Allegations.

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Yet another reason NOT to buy Lottery Tickets

So the article here which describes the alleged “shady tricks” pulled by a minority of lottery ticket vendors, is yet another reason NOT to buy lottery tickets. I have ranted about this before, but I guess I need to rant again.

The people who make money on lottery tickets are the following:

  1. The people who OWN the lottery, notice you aren’t allowed to start your own lottery, that is reserved for governments. Too bad the “Send Big Caj to the Bahamas Lottery” sounds pretty good.
  2. People who sell the lottery tickets. They make money on the sale, and when folks who they sell to win, as well.
  3. People who buy the tickets

But (1) and (2) make the Lion’s portion of the money, the amount paid out by the lottery is insignificant in comparison (hence why you are not allowed to run one).

Put your lottery money in a savings account, or a retirement fund, or your debt, or your children’s college fund, or give it to a worthy charity, all of these are much better choices for your hard earned dollars.

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March Madness!!

I am a basketball junkie, I enjoy watching it, playing it and coaching it. March means the NCAA tournament and basketball all day long for a while, so it makes me quite happy.

However, what worries me is the amount of betting and wagering on these games. I haven’t found an article yet but I’d be curious to see what the estimates are for how much is being wagered on the NCAA tournament, I would bet it is in the Hundreds of Millions at the end of it all. If you want to spend $5 on an office pool, I guess I am not going to give you a lot of grief, but remember you are making a decision to give that money away!

I grow weary standing on this soapbox about squandering your hard earned money on betting, lotteries and gambling in general. You worked hard for this money, do you really want to just blow it and ruin watching a great basketball game because you put a bet on it? Every time I have wagered on a game, I find I lose track of the game and worry more about my “bet”. What is the point of watching the game then? I’ll get off my soapbox now.

Don’t ruin watching exciting basketball games by putting a bet on them!

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Gambling: Sure fire system

So if you are going to gamble, I have a sure fire, never lose system. I don’t usually give away my secrets in this area, but this one I figure needs to be shared with my readers.

If you are going to gamble, gamble on yourself (see, fooled you, thought I’d gone off my rocker and joined the Lottery for retirement crowd? Nah!). I have heard this in a few places, so I won’t attribute this to any one person, but it is a very useful piece of advise.

Invest in yourself, take courses, learn new things, read books, try out new things, do things you think you can’t do (except maybe sing for American Idol, that’s just asking for trouble). Spend time on improving you, that is a sure fire way to do better in life.

You are your most valuable resource in this world, so Gamble On a sure thing, YOU!

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Lotteries? What are you Nuts?

Lotteries are for Suckers

This is from my first years of writing, but I do like the sentiment.

For those of you who enjoy lotteries, may I ask you to please just send me 10% of the money you spend on it. This way at least I can be solvent and you guys can flush your money down the toilet.

Tough words? Well I worked in the lottery business for a while (I’ve worked in a lot of the 7 deadly sins, but that is for another day) and there are three folks who make money on Lotteries:

  1. The People who run the lottery, but governments don’t let you do that
  2. The people who print the lottery tickets (but they make a lot less than the lottery owner)
  3. The people who SELL the lottery tickets

For my regular readers, yes I have ranted about this before, but now I am noticing more people wasting their money on lotteries and hoping they can retire with their winnings. What the government doesn’t take enough of your money, you enjoy throwing it out of the window?

You feel you MUST spend your money here are some ideas on where to put your money:

  • A charity, that way you get 10-20% of it back in tax credits
  • Pay your credit card debt with it, then you are saving 19% a year!
  • Buy your kids a savings bond, for their education, or put money in an RESP or RRSP

Stop squandering your money on this stuff!

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