Another "surplus"
The federal government "surplus" was predicted by Finance Minister Flaherty to be $3 billion. But it's more than double that at $6.4 billion.
I've already blogged a billion times about how government "surpluses" shouldn't be called that, but "overtaxation amount". When are middle and lower income folks going to get a break?
My inside sources tell me that Conservative MPs are quietly pushing for broad-based tax cuts in the next budget.
Canadians are way overtaxed. Enough of the social-engineering targeted tax cuts. Many Conservatives were very disappointed with the last budget where no income tax cuts existed, all to fix the so-called "fiscal imbalance" with the provinces. I just don't think that will ever please every province.
And I don't want to see a measly 1% cut for the lower or middle bracket. While I understand that can have an affect on inflation, how about a 1-2% reduction every year for the next 5 to 10 years? That would force preceding governments to look for ways to become more efficient.
But alas, Harper promised eventually to cut the GST to 5%. My guess is that's where things are going instead of income tax, but why not both? Why not?