"This single tax reduction will mean nine billion more dollars will be kept in the pockets and bank accounts of Canadians over the next two years. [...] The Government is committed to further cutting the GST to five per cent, which will result in more savings for all Canadians. [...] Under Canada's New Government, Canadians are saving more money. In Budget 2006, 29 separate tax cuts were introduced, representing more tax relief than in the four previous federal budgets."
How realistic is it to expect that Canadians will actually keep these nine billion dollars "in their pockets and bank accounts over the next few years"? Rather, I suspect most would prefer to spend this on more goodies they think they need.
You cannot create wealth - if all Canadians had more money, that money will simply be worth less. Sure it will help a lot of people in the short term, but by creating the illusion that they have more, most will buy more (mostly gizmos from offshore) raising consumer prices and accelerating both the productivity decline in Canada and the damage being caused to the planet (exploitation and waste of natural resources, garbage, etc).
Personally, I think it's a brilliant way to win the next election while covertly advancing an agenda that harvests the dumb and further empowers the rich through the inflation that these tax measures will surely bring about.
No comments:
Post a Comment