On Wednesday, November 4th the Manitoba Party held its first meeting at the Holiday Inn – Winnipeg South. Though notice of the event was circulated to a limited number of people it was well-attended. As the event was video-recorded, one may view the speeches delivered by Gary Marshall and John Sneisen, two of the founding members, below.
Gary Marshall started the meeting with a 40-minute speech covering a number of topics. We have separated that speech into 5 videos out of compassion for the listeners.
In the introductory and shortest video, Mr. Marshall comments briefly on the stagnant nature of the Manitoba economy, his recent association and partnership with John Sneisen, the reasons for forming the Manitoba Party so belatedly in the election cycle, and some of the enduring problems facing the province.
In the second video, Mr. Marshall surveys the political spectrum of Manitoba, remarking tersely upon the motives, positions, and profound shortcomings of the 3 main provincial parties, and especially the ruinous policies and strategies that have led the PCs through 4 consecutive election defeats these last 16 years. Mentioned are the Conservative electoral failures in Manitoba, Alberta, Saskatchewan, and Ontario, and the deep-seated feelings of alienation suffered by the electorate within Canada and also in the United States. Noted are the wretched circumstances in which Conservatives find themselves across the nation. Though not commented upon in the speech, the recent defeats of the Conservative Party of Canada and the Progressive Conservative Party of Newfoundland only add to this parade of misery, leaving Canada without any conservative party save the Saskatchewan Party in Saskatchewan. Mr. Marshall lays out the possibility of an election upset in Manitoba if a new party can quickly form and forge the right policies to address the atrocious policies of the reigning NDP and eclipse the pitiable, weak, and near-indistinguishable platform of the opposition PCs.
The third video, the lengthiest and most important, concentrates upon Public Finance thought and theory. Mr. Marshall laments that this field of study, this supposed science, cannot distinguish a worthy government expenditure from those unworthy; That many government expenditures yield little or no return and often great losses; That they encourage the unproductive members of our society and discourage the productive: that economic disaster inevitably follows such boundless imprudence and squander in public expenditure.
He underscores the erroneous notion that government funds government when all know that it is the taxpayer, and specifically his property, income, and assets that fund government. He argues that Public Finance experts and practitioners should amend this overt and startling blunder and, thereby, greatly improve the state of this derelict and obsolete branch of economics.
A deficit, money borrowed to fund government expenditures in excess of tax revenues, is often viewed as a dangerous consequence of fiscal incompetence. Mr. Marshall illustrates with a solid proof that funding a deficit with borrowed funds has no effect, or no more effect than Taxation does, upon the finances or property of Manitobans - as long as the lenders are themselves strictly Manitoba residents.
In the fourth video, with the great concern of a deficit easily dispatched, Mr. Marshall speaks of the true menace to Manitobans and its consequent remedy. He reveals the great problem facing Manitobans is a voracious and overwhelming government interfering in and threatening the economic well-being and freedom of the people it ostensibly serves. He then presents the Manitoba Party’s platform: massive tax cuts to resolve the stagnant economic growth of this province and restraint in government expenditure.
In the 5th video, to answer those that argue tax cuts reduce tax revenues, Mr. Marshall argues that many confuse these two disparate concepts: that, in fact, lowering tax rates very often yields the reverse or rising tax revenues. He explains that taxes are a deterrent, penalty or fine: That by alleviating this deterrent, the economy’s growth rates shall rise and accelerate. Thus, a stagnant economy having thus swelled to a much larger or more vibrant economy, the generation of greater tax revenues will easily replenish expected revenue shortfalls and surpass previous revenues.
The fine example of Ontario in the 90’s, suffering $10 billion deficits, serves as confirmation of the idea. With tax rates reduced, Ontario enjoyed the highest growth rate of any province or state in North America. Its $10 billion deficits were erased in 4 years, astonishing the province’s leaders and economists. Mr. Marshall argues that were Manitoba to implement the same tax measures, one should expect the same result with prosperity and wealth for all.
In the 6th video, John Sniesen, Founding member, shares some thoughts on the economy.