Canada’s Most Defining Moments Essay Example for Free

Canadas Most Defining Moments EssayCanada is a one of the wealthiest countries in the world but Canada didnt just become monied overnight. Canada has many accomplishments and failures but the most delimitate 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 grocery store crash, which led to the Great Depression, the baby bankrupt on the other hand led to amplifys in jobs during the 1960s, and finally GST replaced Manufacture Sales Tax (MST) in 1990. The morning of October 24th 1929 is known as Black Thursday be wee-wee on this day the stock market crashed in America but it affected most of the world including Canada. The cause of this crash in Canada was because of citizens buying on margin which is borrowing coin from banks and simply putting down 10-20% of the loan. The crash caused the 1930s to be a period of great depression for citizens. This brou ght the country into a state of panic and many hatful committed suicide because of the stock market crash. In only 2 days the market had dropped an average of 20%. The stock market crash was a spark that led Canada and many other countries into a Great Depression. Other factors that contributed to Canadas Great Depression were the habituation on the United States, over-production and over-expansion, and dependence on the primary industry, these were all long term causes. Many companies in Canada were in debt because of over-production and over-expansion.This caused many of those companies to crumble and if these companies were still up and running they could have brought Canada money from international trade. Companies werent the only businesses effected, farming, logging, mining, and pretty much the entire primary industry was falling and Canada wasnt producing any money and practically all exports were to a halt. The Great Depression was stopped by the start of the second world war because of people desperately looking for jobs, so they joined the army. Canada became a much feared country, thus Canada helped win differences like D-Day and the Italian Campaign. Along with the success Canada has had in world war two, the baby boom generation occurred between 1945 to 1964, which increased the population.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 thats what started the baby boom. The next generation would need to produce much 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 unclouded more jobs to satisfy those demands .The baby boomer generation is heretofore 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, wherefore not getting a job in the skill trades. Many jobs like rushgivers 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 boomers healthcare and security income and that will come from our taxes. Canada could be in trouble for the future because we dont have the people to fill those jobs and we dont have the money to pay for their health care and security insurance.The Canadian government cant pay for the health care and security insurance without enforcing some type of tax, and that is exactly what they did. Prime look 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 think 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 wasnt 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% tap and that is HST (PST and GST com bined).The most critical moments in Canadian history were all economic related. Once the stock market crashed in 1929, it caused panic, mayhem, and an economic crisis of great magnitude. The baby boom was a complete opposite it gave Canadians more jobs and soon we are going to have too many jobs and not enough people to fill those jobs in the 1960s. GST is still Affects our everyday lives because everyone pays taxes when buying a consumer product and it has been that way since 1990. Canada could be in trouble economically in the near future. Since the baby boom is restrained I would predict that Canadians will have to paying more taxes due to the extra costs of healthcare and as throughout history, Canadians have had a burn mark hatred towards taxes and especially increases in those taxes. This could possibly cause an uproar in the future.