CPC Budgets, and other deceptive practices
Once again my Friend Tony has hit the nail on the head. In his letter to the editor at the Mop and Pail he says (emphasis mine):
"Sirs:
Your headline (PRIORITY ONE: 28 TAX CUTS) is as deceptive as the Tory budget is voter-rigged. Almost all of the items listed are NOT tax cuts – they are credits or allowances. This budget takes the same (or more) tax dollars from most paycheques, but gives SOME Canadians ways to beg for some of it back at the end of the year.
Most egregious is that one must“spend to save,” which is a twisted way to package a cut. Do you curtail spending in order to save money? Then you won’t benefit from a GST cut. Does your kid like hiking instead of fee-based sports? Tough luck.
The Tory tax plan recklessly pits us against one another in anticipation of the next election. Now, because I advocate real, up-front income tax cuts over these narrow and cynical spending entitlements, I must take something away from what the Tories define as “working families”
The Tories have reneged on their promise to take less from our paycheques, and have included in their budget items they recently called “Liberal attempts to buy your vote with your own tax dollars.” It seems that the Tories are quick studies – and hypocrites."
I do hope they print it, but since it runs counter to the headlines in most of the newspapers today, I doubt they will. The CPC is not buying votes with our money, but promises of our money. By the way, all you small business owners, how much will it cost to "upgrade" your accounting software? You didn't think it would be free did you? And then upgrade it again in a year's time. For a 2% decrease in G.S.T.? I think there might be better ways to give average people some of their money back. How about cutting the marginal tax rate? That would appear directly on the next paycheque.
"Sirs:
Your headline (PRIORITY ONE: 28 TAX CUTS) is as deceptive as the Tory budget is voter-rigged. Almost all of the items listed are NOT tax cuts – they are credits or allowances. This budget takes the same (or more) tax dollars from most paycheques, but gives SOME Canadians ways to beg for some of it back at the end of the year.
Most egregious is that one must“spend to save,” which is a twisted way to package a cut. Do you curtail spending in order to save money? Then you won’t benefit from a GST cut. Does your kid like hiking instead of fee-based sports? Tough luck.
The Tory tax plan recklessly pits us against one another in anticipation of the next election. Now, because I advocate real, up-front income tax cuts over these narrow and cynical spending entitlements, I must take something away from what the Tories define as “working families”
The Tories have reneged on their promise to take less from our paycheques, and have included in their budget items they recently called “Liberal attempts to buy your vote with your own tax dollars.” It seems that the Tories are quick studies – and hypocrites."
I do hope they print it, but since it runs counter to the headlines in most of the newspapers today, I doubt they will. The CPC is not buying votes with our money, but promises of our money. By the way, all you small business owners, how much will it cost to "upgrade" your accounting software? You didn't think it would be free did you? And then upgrade it again in a year's time. For a 2% decrease in G.S.T.? I think there might be better ways to give average people some of their money back. How about cutting the marginal tax rate? That would appear directly on the next paycheque.
2 Comments on "CPC Budgets, and other deceptive practices":
The CPC is even raising the lowest marginal income tax rate by half a point, which increases the tax everyone pays (except for those who don’t pay any). This is to partly undo a full-point drop by the previous Liberal government, but it’s still egregious.
Many commentators have also pointed out that the CPC’s raising income tax and lowering consumption tax (GST) runs counter to standard right-wing philosophy (the GST was in fact introduced by a previous CPC government in order to lower income tax). Clearly the CPC of today believes that most voters don’t mind paying more income tax as long as they get a bunch of goodies (and reducing the hated GST is one of these) — and I have a sinking feeling that they’re correct. The CPC has co-opted the Liberal approach (in other ways too, e.g. attracting ethnic votes) and one might say that the CPC under Harper is the new Liberals.
Rohan, scanner -
Let's talk about the effects on small business
Changing the GST rate on Jan 1 will be easy enough. One variable in my small business accounting software will change. No big deal.
But let's think this through. GST is flow-through for business. The remittence cheques issued to the government will be smaller, and the pool of collected GST will be smaller.
So.. a big effect on business is the change in the amount of cash reserves a business has. The GST reserve will be 1/3 smaller -- this is cash reserve that collected GST forms for small business, and large.
GST collection serves to create a short term cash buffer, almost a short term, rotating, small business loan! This may have a large effect on cash flow, on business large and small.
Ouch! Thoughts?
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