Tuesday, October 30, 2007

Post on Flaherty's tax cuts

I get a mention in this National Post Editorial Board blog on Finance Minister Jim Flaherty's fiscal update.

They call me a "right wing political critic". Wonder if I should put that on my business card?

As far as Flaherty's tax cuts go, what can I say?

Maybe the Tories are finally listening to me.

But then again, maybe not.

As Paul Tuns so aptly puts it, "So after the tax cuts, the government will still be over-taxing us by nearly $12 billion. To my mind, there was room for another $12 billion in tax cuts."

16 comments:

Anonymous said...

Gerry:

This seems to just be more smoke and mirrors...

7% of a $0.65 US dollar = 4.55 cents

5% of a $1.04 US dollar = 5.20 cents

Ummm... Thanks Mr. Flaherty.

I also noticed that I have to consume more stuff to actually take advantage of these great GST savings that Canada's New Government is offering...

First, they fixed "Canada's Fiscal Imbalance" and now these GST "tax savings," wow! How come it always seems to end up costing us more money as taxpayers in the grand scheme of things?

They should try reducing everyone's Personal Income Tax next time or have a chat with Canadian retailers to tell them that the loonie is actually worth more than the greenback so we stop getting gouged as consumers.

Maybe, then Canadians will have a reason to be impressed...

Still, I guess it is an effort...

Anonymous said...

Unfortunately Gerry you get headlines and quoted because the predominantly Liberal media just LOVE a "so called Conservative' who blasts Harper and the Conservatives.

YOu are being used to try to dismantle and /or belittle conservative values in our politics. Even Gerry Nicholls who was once with the very organization that Harper was with is DISMAYED by the the direction Harper is taking this country...blah blah blah.

So, how's your ego doing with all of this attention while helping the Liberal "natural governing party" oust Harper et al from THEIR rightful turf at the their friends our money trough.

Thanks for nothing and the next time I hear you called a "conservative" of any stripe I will be vocally opposed. IN fact, why are you on the Blogging Tories site? You are an opportunist and belong with the other ego maniacs like Garth Turner shlepping for headlines.

Janet said...

It's hard not to be happy with the plan, even if it could have been better.
(Though the re-lowering from 15.5 - 15 that they reversed from 15 - 15.5 after Martin's cut and only implemented for about 6 months seems very silly.)

Hunter said...

Anon says: I also noticed that I have to consume more stuff to actually take advantage of these great GST savings that Canada's New Government is offering...

Duh???? I buy something for a dollar today, I pay 1.06, I buy the same item for $1 on Jan 08, I pay 1.05. How did I have to buy MORE?

Even my 14 year old understood that he will pay less for his next Xbox game when the GST gets reduced. Remember everyone, of every age, must pay the GST, whether they make any money or not.

Paul MacPhail said...

Anonymous, you're trolling amongst people who are obviously wiser than yourself. First, you don't have to consume more to save from the 16.67% reduction in the GST. Just consuming the same will give you a savings. Secondly, the income tax in the first bracket was reduced to the 15% that the Liberals campaigned on during the last election. They lost. Get over it. Third, the lowest taxable income bracket has been raised to $9600.00. This presents a tax savings to everyone within that income level of at least $100. per year. Additionally, the reduction in a further $10 Billion in debt paves the way for future tax reduction. Small steps, but in the right direction nonetheless.

Anonymous said...

I don't know about everybody else but I am sick to death of paying GST on utilities, gasoline and every other essential needed to put a roof over my family's head. So while it may seem like pennies it all adds up at the end of the year. Money in my pocket is a good thing.

Anonymous said...

"7% of a $0.65 US dollar = 4.55 cents

5% of a $1.04 US dollar = 5.20 cents

Ummm... Thanks Mr. Flaherty. "

Well since myself along with 99.9% of Canadians don't conduct our everyday purchases in US dollars I fail to see your point.

Mutton Chops said...

7% of a $0.65 US dollar = 4.55 cents

5% of a $1.04 US dollar = 5.20 cents


Speaking of smoke and mirrors. Why are you expressing the GST cut in US dollars?!? SMOKE AND MIRRORS.

The higher Canadian dollar means cheaper Canadian products - combined with lower consumption taxes means win win.

And since poorer people spend a higher percentage of their income they stand to benefit the most in percentage terms.

BBS said...

Duffy gave you a plug on his show. Mentioned your W.I.M.P. post.

Luke said...

Maybe so, but I can handle $10 billion in debt relief coupled with this tax cut. I would like to see the debt wiped out in my lifetime.

Road Hammer said...

It's a huge step in the right direction. Remember, we'll get a formal budget inside of 6 months and should expect to see more of the same.

Anonymous said...

Gerry, even an anti-incrementalist like you has to agree that this is a very conservative move - and it's not even a budget. Remember the dying days of the Martin regime, when the new rule was to spend the surplus one third each on programs, debt, and tax cuts? That would have meant a new $25 BILLION program yesterday. Thank God for winning, incremental, conservatism.

Now, instead of some socialized kid-programming daycare scheme, we have a series of mostly irreversible tax cuts: the Liberals are electorally precluded from raising corporated taxes in the short or medium term; nobody will raise the GST because it's so blood apparent; and nobody will consider lowering the personal exemption because that just addsd scores of poor people back to the tax rolls.

We are hemming in future governments. Surely four years is not too long to wait.

Dwight Schrute for President said...

Re: Bitter anonymous who calls you an opportunist should take a chill pill. It is our responsibility in a free society to be critical of those who govern. If Mr. Nicholls succeeds in drawing attention to a matter of importance, then good for him. Keep up the good work.

Miles Lunn said...

I support the income tax cuts and corporate tax cuts, but not GST cut. Although I think one area they should focus on is raising the minimum tax threshold to the poverty line so no one living below the poverty line pays taxes. Those on the left talking about helping those living in poverty and I agree, but it isn't it kind of hypocritical to tax them.

In addition corporate taxes will help make our companies more competitive internationally and thus less susceptible to foreign takeovers, which I know the left hate. The reality is blocking foreign takeovers won't work, but we can create conditions to make them less attractive.

Anonymous said...

Hunter and the rest who posted in the belief that the Canadian currency is actually independent of the US dollar:

Oh boy, you are a bunch of real geniuses... Buy your kids x-box south of the border if you really want to save yourself some real money... Hell, if we really want to believe in free trade in this country, let's open the border and let Canadian consumers spend their money where they can get the best deals to feed/clothe their families...

Believe me I wouldn't shed a single tear, but Ontario and Quebec would probably suffer.

By the way, a panel of twenty independent Canadian economists unanimously said that the offered tax cuts did nothing to boost productivity.

Sorry to have disturbed some of your comfortable "conservative" lives...

Hip Hip Hooray for Harper and Flaherty! Is that what we are all supposed to say on this site?

Anonymous said...

Bitter anonymous #2:

Heil, Harper!

Pseudo-conservatives make me laugh.

Are you threatening to throw Gerry out of the party too?

Is that what we can expect in the future from the CPC?

More ex-communications like those of Bill Casey and Garth Turner for the conservatives who actually show a backbone!