Monday, November 14, 2005

Shamrocks! Pledges $1 Trillion Gazillion in Tax Cuts

Now you promise me
The moon and the stars
Save your breath
You won't get very far

No, you're never gonna get it
Never ever gonna get it
--En Vogue
The Libs promise tax cuts....over 5 years though, and it turns out to be a pittance:
Ralph Goodale pledges $30 billion in tax relief

David Akin, CTV News
OTTAWA — The federal government, awash in much higher-than-expected surpluses, is promising broad-based tax cuts and billions in new spending.

The economic and fiscal update, presented this afternoon by Finance Minister Ralph Goodale, promises to cut personal and corporate income taxes by $30 billion this year and over the next five years.
Er, so how does this work?
Under the changes, the federal government says that a family of four with two earners who gross $60,000 a year will shave $934 off their tax year.

Meanwhile, a single parent with one child who earns $50,000 a year will save $700 a year.

But most of the tax breaks for middle- and higher-income earners won't take effect for nearly five years.

The government says that its new tax initiatives will mean that an additional 500,000 Canadians will not pay any tax.

How much do I get if I rub my tummy clockwise and the top of my head horizontally while standing on one foot?...Oh, it's only 5 years from now? So the Net Present Value is .... what? Sweet FA, that's what. Let's have some real tax cuts next year, thanks. How about a quote from the media about tax cuts for the next fiscal year..what is it? 2 B?

It is pointless anyways- Without a majority, these promises are like the NDP budgets.....No chance of implementation? It's a fantasy:
"You're like Gladys Knight without the Pips-You'll never go platinum"


Canadi-anna said...

Even with a majority there's no chance of implementation.

Shamrocks! said...

Just to play devil's advocate....Why couldn't the libs (assuming they get a majority) implement their weak ass tax cuts?

Just wondering.