Wednesday, October 10, 2007

Where’s my tax cut?

I’ve seen similar figures before, but they never fail to jolt me. Jack Mintz on taxes:

In a little-known publication -- Fiscal Reference Tables, issued Sept. 27 -- "Canada's New Government" reminds us how much we dole out in taxes, fees and other revenues to all levels of government: $582-billion in 2006. On a per-capita basis, that comes to more than $17,500 per person -- for a family of three that means more than $52,000...

As a share of GDP, Canadian government revenues are more than 40% [or, from the government point of view "we’re losing 60%!"]

Personal tax rates approaching 70% -- due to income, payroll and sales taxes, as well as clawback rates for income-tested programs -- are especially high for Canadians with modest income.

Canada has the 11th-highest effective tax rate on capital in the world and, even worse, sixth highest for the service sector.

Canada has one of the highest corporate income tax rates in the world, even though we have reduced the rate from 43% in 2000 to 34% today...

Government has a useful role in defense, law enforcement, roads and waterworks. Some of that and most everything else can be had through private enterprise.

So where’s my tax cut? If we can’t expect meaningful relief from a conservative government, what hope is there?


Luke said...

Wait for it... I'm hoping for a huge tax cut announcement in the throne speech.

Anonymous said...

I hope that after the Tory Tories get trounced in the election tonight that they learn a lesson. It is not enough to be called conservative to get conservative votes. You have to have conservative policies. Why does the conservative party run from Mike Harris’s record? They should embrace it. Give me a real conservative and I will vote for them.
I did vote against MMP tonight but could not bring myself to vote for any of the boneheads running in this election.

JR said...

I hope you're right Luke. Then Anon's hoped for trouncing won't materialize.