Thursday, May 12, 2011

Fiscally Reposible? Yeah Right

The Conservatives are going to reduce the Corporate taxes by more for next year. If this years budget passes (which of course it will) the corporate taxes will be 16.5% the next year the Harper Government wants to reduce it to 15%. The cost for these cuts will be large.

The cost is about $1.6 billion in foregone revenue in the 2011-12 fiscal year, $3.9 billion the year after, and a total of more than $10 billion over three years.
How will the Conservatives fund these tax cuts. They don't know. Canada has already a very competitive tax cuts compared to the G8 and the Conservatives want to make Canada a country that cuts taxes and has a large deficit problems. Wait that reminds me of a country. The U.S! If we continue this tax cuts and spending increases Harper agenda we will never reach surplus. This isn't fiscally responsible. I wonder how the Conservatives will reach surplus  without making new cuts they didn't tell us about.

Read more here

update: there was a problem on  Blogger I am sorry i know that this was an old post

4 comments:

  1. I guess you want the blue grits to all leave and never return

    http://spinassassin.blogspot.com/2011/01/former-liberal-finance-minister-defends.html

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  2. I just read that Flaherty's backing away from the early-deficit-elimination promise, incidentally.

    As usual, the tax-cuts-equal-revenue-growth snake oil sounds better in pompous speeches than it looks on the ledger paper.

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  3. He'll do what Florida is doing. Cutting UI benefits. http://thinkprogress.org/2011/05/08/florida-benefits-corporate/

    I wonder what word the Cons will come up with to replace austerity?

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  4. How about they cut subsidies to the energy sector? Like cutting wind farms, solar, bituminous sands, shale gas, oil, hydro, etc. that would take a significant bite out of the budget.

    ReplyDelete

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