Moments In Canada

Canada’s most defining moments Canada is a one of the wealthiest countries in the world but Canada didn’t just become wealthy overnight. Canada has many accomplishments and failures but the most defining moments in Canadian history were both the failures and accomplishments in the economy or economy related. The three most defining moments in Canadian history were; the stock market crash, which led to the “Great Depression”, the baby boom on the other hand led to increases in jobs during the 1960’s, and finally GST replaced “Manufacture Sales Tax” (MST) in 1990. The morning of October 24th 1929 is known as “Black Thursday” because on this day the stock market crashed in America but it affected most of the world including Canada. The cause
The cause of the baby boom was essentially the great depression because numerous Canadians enrolled in the military. Canadians want to make a quick buck and not expecting to fight for years. Canadians went to battle for six years without women and when soldiers returned from the war they had an urge for intercourse with their girlfriends or wives and that’s what started the baby boom. The next generation would need to produce more consumer items and build more houses due to the sheer number of baby boomers, more power and water would also be required to run those homes. Therefore with these new demands we need to open more jobs to satisfy those demands. The baby boomer generation is even effecting us now, 66 years later. They are going to soon influence skill trades in Canada because the baby boomers in those jobs are near retirement. There is going to be a shortage of people to fill those jobs; especially because of parents wanting their children to go to university, therefore not getting a job in the skill trades. Many jobs like caregivers for example will require more people because of the sudden increase in elderly citizens. We are also going to need to pay for the baby boomer’s healthcare and security income and that will come from our taxes. Canada could be in trouble for the future because we don’t have the people to fill
Prime minister Brian Mulroney and financial minister Michael Wilson introduced the idea of a Goods and Services Tax (GST) to replace Manufacture Service Tax (MST) and Federal Telecommunication Tax. This new tax is suppose to be implemented to all provinces except Alberta because they already had their own sales tax at a retail level. GST saved Canada from debt of the first world war, even though GST wasn’t introduced until 1990, MST was the little brother of GST. The government decided that MST was the best way to pay for the debt and essentially it was, but most Canadians and manufacturers strongly disliked this tax. GST was promoted as revenue-neutral in relation to the MST, the shifting of the tax away from exported manufactured goods would make life more costly for Canadians. Thus Canadians were against GST and manufactures were worried that the tax would hurt their sales internationally. The GST is affecting us every day, because if you are Canadian and you pay for a product or service; you are hit with a 13% fee and that is HST (PST and GST