Friday, August 24, 2007

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?

1 comment:

HOLY said...

I can't decide which I like more - universal free health care vs. way lower income tax rate here in the Americ uh.....

As I source health care plans again, to the tune of $500 a month, I dunno, I try to hold that wonderful income tax differential in mind.