Thursday, October 18, 2007

Speaking of Deep...

A study just released states that Canadians are deeper in debt than ever before (not including mortgages). This is not surprising. Everyone wants to keep up with the Joneses in purchasing the latest technologies, cars, and clothes, instead of saving or investing for the future.

Thing is, let's not forget that Canadians are also highly taxed. When the Chretien/Martin Liberals were in power, sure they eliminated the deficit and starting paying down the debt, but in order to keep inflation low, through the mid-late 90's, the average family saw their annual income tax bill increase by over $3,500... and a little each time, so we'd barely notice.

So it's refreshing to hear that the the current Conservative Finance Minister is looking to reduce our tax burden, and maybe, just maybe Canadians can pay off their OWN debt and save for the future.

Canadians have had deep wounds from high taxes for many years and even had salt poured on it. It's time to heal them, don't you think?

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