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| quote: | Originally posted by EvilTree
I believe there are going to be income tax break and other tax break on top of GST reduction according to Flaherty |
yeah...I'm curious how it's deemed responsbile to ditch this revenue. income tax cuts are one thing...but the 1% GST cut is fucking stupid, IMHO. Sure a bit of extra spending might result, but I think it's better to keep that revenue flowing into the gov't.
The average Canadian, unless they're buying a new house, isn't going to benefit much for a 1% GST reduction. Even new homes are often already subject to a partial GST rebate.
Just do the math. If you spend $50,000 (AND it was all on GST taxable items, btw), that's only $500 in tax savings!
So how many of you have spent anything close to that this past year, nevemind on GST taxable items? Keep in mind that residental rent and mortgage payments aren't subject to GST, and that's the major annual expenditure for most people, I'll wager. Much of your groceries aren't GST taxable too, so factor that out as well.
Can someone explain to me how this is economically more beneficial to the country vs. leaving the GST as is? Otherwise, I see it as a vote grab.
As individuals, it means little to nothing to most of us...but as a whole, that's a shitload of money that could benefit municipalities across the country, for example. Proportionally distribute that 1% across the country's cities and suddenly Toronto doesn't have a deficit, right?
KEEP THE FUCKING 1% OF GST AND SPEND IT ON WORTHWHILE PROJECTS!!!
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