GST Hike

[phreezee]

Campaign on $10B annual deficits, reset the rules months later and "promise" $15B annual deficits.

Spend $2.8B on climate change, refugees and other foreign aid.

Now talk about raising GST, even though Trudope has said he wouldn't in the past.

http://www.ctvnews.ca/politics/liberals-don-t-rule-out-hiking-gst-to-generate-government-revenue-1.2701438

[ExtraSlow]

Sales taxes are for sure my favourite form of taxation.

[Feruk]

From article:

After his remarks were published, Morneau later tweeted: "Contrary to misleading headlines, we are not considering changes to the GST."

[Xtrema]

They don't have the political capital for GST hike. Current Liberal and NDP prefer robin hood type of taxes, not the ones that everyone pays.

[SmAcKpOo]

Why is it okay to spend billions of dollars you don't have? Do voters respond that negatively to austerity measures to balance the books?

[phreezee]

Originally posted by Feruk
From article:


Ninja edit I suppose



Published Tuesday, December 15, 2015 3:12PM EST
Last Updated Tuesday, December 15, 2015 3:45PM EST

[sputnik]

- Mulroney creates the GST as a temporary measure to balance the books.
- People hate Mulroney for it and bury the PC in the following election.
- Liberals under Chretien get voted in under the promise to scrap the GST
- Liberals balance books, generate surplus but keep the GST as a great money maker.
- Liberals are heralded for their fiscal prowess and people forget about the promise to scrap GST.
- Harper gets elected and promises to reduce the GST. People love it at first but then hate him for it once the collapse of 2008/09 happens but it stays at 5%
- Trudeau gets elected (because Harper is evil) spends heavily and now we are to accept a return to 7%

:facepalm:

[ExtraSlow]

Originally posted by SmAcKpOo
Why is it okay to spend billions of dollars you don't have? Do voters respond that negatively to austerity measures to balance the books? Voters want a deficit and they want higher spending. :thumbsup:

[rage2]

Originally posted by SmAcKpOo
Why is it okay to spend billions of dollars you don't have? Do voters respond that negatively to austerity measures to balance the books?
Yup. At the provincial level, PC promised cuts. NDP promised to roll 'em back.

PC says it's our fault for wanting so much crap, but not pay for it.

http://www.cbc.ca/news/canada/edmonton/prenticeblamesalbertans-goes-viral-after-jim-prentice-s-look-in-the-mirror-comment-1.2982524

Truth hurts, but we don't wanna hear it. We'll just troll social media and make clever hashtags to bury any cuts, then vote in the guy (or girl) that'll give us more free shit. :rofl:

[lasimmon]

I don't want it raised based on the simple fact 5% is easy to calculate.

[jwslam]

Originally posted by SmAcKpOo
Why is it okay to spend billions of dollars you don't have?
Because you follow that up with negative interest rates; eventually the bank owes YOU money on a loan :nut:

[sputnik]

Originally posted by jwslam

Because you follow that up with negative interest rates; eventually the bank owes YOU money on a loan :nut:

No.

While the central bank might have negative interest rates... the big 5 (RBC/TD/Scotia/BMO/CIBC) will never have negative rates.

[Xtrema]

Originally posted by sputnik
- Mulroney creates the GST as a temporary measure to balance the books.
- People hate Mulroney for it and bury the PC in the following election.
- Liberals under Chretien get voted in under the promise to scrap the GST
- Liberals balance books, generate surplus but keep the GST as a great money maker.
- Liberals are heralded for their fiscal prowess and people forget about the promise to scrap GST.
- Harper gets elected and promises to reduce the GST. People love it at first but then hate him for it once the collapse of 2008/09 happens but it stays at 5%
- Trudeau gets elected (because Harper is evil) spends heavily and now we are to accept a return to 7%

:facepalm:

What I have learnt in the last 20 years in corporate world is that the last guy is always wrong. :D

I just repeat what the guy before him is doing and I'm a saint.

Hence the circle of outsourcing, offshoring and insourcing again in a 5-7 year cycles.

[suntan]

The GST replaced a hidden VAT tax.

[revelations]

Originally posted by suntan
The GST replaced a hidden VAT tax.

Apparently, once the tax was removed, the manufacturers profited from not reducing their prices (pocketed the difference) and the consumers ended up paying the same PLUS a GST on top now.

Had the GST been 3% flat across the board (instead of stupid exceptions) it would have been far more effective.

[HiTempguy1]

Originally posted by rage2

Yup. At the provincial level, PC promised cuts.

Half truth. They also promised tax increases along with those cuts :dunno:

[speedog]

Originally posted by SmAcKpOo
Why is it okay to spend billions of dollars you don't have? Do voters respond that negatively to austerity measures to balance the books?
In Alberta, they didn't but we paid afterwards for the Klein years.

[msommers]

Oh Ralph bucks.

[ZenOps]

Only interbank lending rates (and people with excessively large accounts) would be negative.

Everyone else would be either zero or 28.8% credit card rate.