Monday, April 25, 2011

What Does "GST Hike not off the table" Actually Mean?

“GST Hike not off the table”

*note, this quote comes from 2008*

Well, what EXACTLY does this mean? It means exactly that. It’s NOT off the table. Does it make it likely, no. Does it make it possible, yes. Is that bad? Well, it is if you’re a conservative.

Let’s look at it a different way, since the Conservatives make it seem as if the GST is going to rise, lets actually look at what this means. As someone who claims to be an economist, Stephen Harper should ALSO have a GST hike on the table, and a corporate tax hike. As an economist, he should be looking at ALL sources of revenue and then go about picking and choosing what to keep and what to get rid of.
People don’t really save that much with the GST cut on regular items. On big ticket purchases yes, there is a savings. However, if that’s what you’re basing this on, remember, not many people will actually be saving much since not many people buy big ticket items. If they do, it’s not that often.

What would be better than that GST cut? An income tax cut. You may spend a little more on items, but, you already have a little more to work with. What would be better to you, saving $3 - 5 a week on a 2% GST cut, or having $6 – 7 more in your pocket every week due to an income tax cut? These numbers are obviously just made up to make a point, but from what I recall when this was being discussed, those were roughly the ‘average’ numbers.

You have a choice, fear or facts. Make the right one.

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