Whaddya rekon this il cost us ?

[Waftrudnir]

More like going down a snow covered hill with a crazy carpet and knowing there is barbed wire at the bottom of the hill...

LOL
...fond memories... somehow we survived after all.
You know I was planning on planting vegetables for the last two years; maybe I really should start practicing!

[skypilot]

"Political signal". Key words. As usual, besides emotion it's all "styling and profiling." No substance just fluff, rainbows, and fairy dust and that brown stuff in the center...bullchit.

[jaycee]

So the finance minister has said the "middle class tax cut but increase the taxes on the rich" plan will cost something rather than be "revenue neutral". It seems that it will cost the government $1.2 Billion/year over the next 5 years because, wait for it, the rich are creative in finding ways to reduce their taxable income. Despite the die hard Trudeau supporters, did anyone really think this plan would have been revenue neutral like the Great White Dope promised? Further more only 9 million Canadians will benefit from this plan. That is right, out of 35.16 million Canadians, about 1/4 of the people will benefit from this "fairness" election pitch. I suppose the people rest of Canadians (minus the 319 000 taxpayers who earn more than $200 000/year) are SOL.

On top of that, because the slow economic growth, the government now is talking about having a $25 Billion deficit over 3 years rather than the promised $10 Billion. Where did these clowns ever learn how to count or learn if you have slower than forecasted economic growth, don't go spending money like you are a sailor on shore leave for the first time in 8 months. If this is how it is going to be for the first month and a half on the job, I shudder to think what Canada will be heading to in four more years.

After watching yesterdays news, we find out that that benefit will only be about $600.00 dollars per year, WOW!.

[werner.reiche]

So the finance minister has said the "middle class tax cut but increase the taxes on the rich" plan will cost something rather than be "revenue neutral". It seems that it will cost the government $1.2 Billion/year over the next 5 years because, wait for it, the rich are creative in finding ways to reduce their taxable income. Despite the die hard Trudeau supporters, did anyone really think this plan would have been revenue neutral like the Great White Dope promised? Further more only 9 million Canadians will benefit from this plan. That is right, out of 35.16 million Canadians, about 1/4 of the people will benefit from this "fairness" election pitch. I suppose the people rest of Canadians (minus the 319 000 taxpayers who earn more than $200 000/year) are SOL.

On top of that, because the slow economic growth, the government now is talking about having a $25 Billion deficit over 3 years rather than the promised $10 Billion. Where did these clowns ever learn how to count or learn if you have slower than forecasted economic growth, don't go spending money like you are a sailor on shore leave for the first time in 8 months. If this is how it is going to be for the first month and a half on the job, I shudder to think what Canada will be heading to in four more years.

Well Dyth, I hate to give you more bad news...but because of the way our tax system works, those making over 200k also get the "middle class tax break" for the income they earn in that range. Those making over 200k pay more on the 200k+ but less on the lower income. The break-even point is somewhere around 217K, I think. Thus even those in the 200-217K get JT's middle class tax break.

[Dythbringer]

Well Dyth, I hate to give you more bad news...but because of the way our tax system works, those making over 200k also get the "middle class tax break" for the income they earn in that range. Those making over 200k pay more on the 200k+ but less on the lower income. The break-even point is somewhere around 217K, I think. Thus even those in the 200-217K get JT's middle class tax break.

Not really bad news in my opinion. I am a firm believer of letting the people keep as much of their money as possible. I don't mind paying my fair share but it seems the government and I have a very large difference of opinion of what constitutes a fair share. What I don't think some governments in our country realize is if the average joe has more money in their pockets, they will more than likely spend some of it on consumption (whether it be dinner with the wife, a nicer car, etc) which generates money in the tax coffers. The more money the government takes away from people, the tighter people start to hang on to the remainder.

As for the rich getting a bit of that tax break, it really doesn't bother me (my point was more for the fact the campaign promise was to be "revenue neutral"). What a lot of people don't understand is "rich people" purchase more luxury items (or purchase more of everything such as trips) than the rest of the middle class which is taxed out the wazoo. However, jealousy usually clouds people's minds when they see someone driving a "fancy car" or buying nice jewelry or going away on vacation without realizing those purchases are taxed not only on the sales but more than likely getting dinged because they are luxury items.

Dyth

[Dythbringer]

After watching yesterdays news, we find out that that benefit will only be about $600.00 dollars per year, WOW!.

Which her highness Queen Wynne will no doubt take from you....

Wouldn't it be something if the people who benefit from the tax break turn around and send it to the Conservative Party of Canada? LOL!

[terrym]

Whatever tax break you get from the Feds will be clawed back by Wynne. Add up the increases in Hydro ( which will get worse now that she's selling it off ), the Carbon taxes which will cause inflation and so will the Ontario pension scam and you will find your net disposable income is eroding. Less money for you to live on. It truly is mind boggling how people don't know how to count and manage finances.

[Hunter John]

Exactly Terry.

http://www.torontosun.com/2015/12/07...eau-takes-away