Government Spending & Asset Insights
California High-Speed Rail Lost $4 Billion in Federal Funding.
In 2008, Californians voted for a $9.95 billion bond with the promise of a modern high-speed rail (HSR) system that would enable travel between San Francisco and Los Angeles in under three hours, at a projected cost of $33 billion. Seventeen years later, the project is drastically behind schedule, far over budget, and shrinking in scope to the point that those who voted for it in 2008 wouldn’t recognize today the elements they had originally endorsed—they should be very upset about the deeply flawed evolution of this project. It is reported that more than $15 billion has been spent and the bond money is gone, but passengers haven’t ridden a single mile as no single mile of track has been laid.
Post on X.comAs of January 2026, approximately $15 billion has been spent on the California High-Speed Rail project.
Roughly $14.7 billion to $15 billion has been spent since the project's inception. The vast majority of this spending has been concentrated on the 119-mile construction segment in the Central Valley (Madera to Poplar Avenue) and environmental clearances for the rest of the Phase 1 system. The original 2008 estimate for the entire San Francisco to Los Angeles line was $33 billion. Current projections for that same 'Phase 1' build-out now exceed $128 billion due to inflation, land acquisition costs, and engineering complexities.
Post on X.comTech billionaires say a proposed 5% wealth tax could drive them out of California.
A proposed 5% wealth tax in California has sparked backlash from some of the tech industry’s richest figures, who warn the measure could push them to relocate outside the state. The proposal, would impose a one-time 5% tax on the assets of California residents worth more than $1 billion.
Post on X.comOlivia Chow is proposing an increase in Municipal Land Transfer Tax
The tax increase would work in the following way. Homes valued between $3 million and $4 million would see a 0.9 per cent change in rate, to a total 4.40 per cent. Homes valued between $4 million and $5 million would see a 0.95 per cent change in rate, to a total 5.45 per cent. Homes valued between $5 million and $10 million would see a one per cent change in rate, to a total of 6.5 per cent. Homes valued between $10 million and $20 million would see a 1.05 per cent change in rate, to a total 7.55 per cent. Homes valued above $20 million would see a 1.10 per cent change in rate, to a total 8.6 per cent.
Post on X.comVancouver has the highest high-rise development charges in the country
Development charges in Vancouver can add up to $125,600 to the cost of an 800-square-foot condominium, whereas in St. John’s, Newfoundland and Labrador, the charges are approximately $1,600 per high-rise unit.
Post on X.comDevelopment fees and charges account for up to 35% of new home construction costs in the GTA
In Toronto, a surprising chunk of every construction budget never touches bricks or steel. Between development charges, parkland fees, planning costs, and taxes, as much as 25–35% of a project’s total cost goes straight to government. It’s a major reason new housing feels so expensive — before a single unit is sold, city fees have already eaten a third of the pie.
Post on X.comOver 27,000 government employees earned $150,000 or more last year.
More than 27,000 public servants earned at least $150,000 last year, underscoring the growing number of well-paid positions within the government workforce.
Post on X.comCity of Toronto has 43,440 active employees as of 2025 in the Toronto Public Service
Permanent full-time employees make up 53% of the workforce, while part-time and temporary employees account for 21%.
Post on X.comThe Government of Canada contributed $40 million to the facility of Nokia in Ottawa
Federal government provided $40 million in funding to Nokia for expanding its Ottawa facility, which is expected to create 340 jobs.
Post on X.comTotal expenses of the Federal government for 25-26 fiscal year are $585 billion
Budget of the federal government for the fiscal year 2025-2026 has a deficit of $78.3 billion.
Post on X.comThe base salary for a Canadian Member of Parliament (MP) is approximately $209,800 per year
The Prime Minister earns about $406,200 a year, followed by ministers at roughly $299,900. The Leader of the Opposition makes the same, while non-opposition party leaders come in slightly lower at about $271,700. Regular Members of Parliament round out the list with a base salary of approximately $209,800.
Post on X.comMunicipal Land Transfer Tax in Toronto generates $986 million annually
Municipal Land Transfer Tax (MLTT) revenue totals $986 million and represents 5.2% of the City's revenues.
Post on X.comThe City of Toronto collects about CA$5.6 billion in property taxes
The largest share of the revenue of the city comes from property taxes, which contribute to 30% of the budget.
Post on X.comCBC received $1.4 billion in government funding in 2024
Total annual budget of CBC was around $1.9 billion.
Post on X.comDundas street subway station renaming costs taxpayers $400,000
The $400,000 paid by City Hall should cover the map updates, according to Chris Ronson from the transportation services division.
Post on X.comCanada Post reported loss of $541 million in third quarter of 2025
Third quarter reported loss of $541 million brings total losses in 2025 to $989 million.
Post on X.comIt takes 6 million average full-time workers to pay for the salaries of federal government staff
To cover CA$60 billion in wages of the federal staff, it takes 6 million full-time workers in the private sector earning around CA$67,000.
Post on X.comTotal wages of federal government staff are now more than CA$60 billion
The Federal government employs around 440,000 workers. With an average compensation of CA$136,000, the total wages of federal government staff are now more than CA$60 billion.
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