nightwatchman
14th July 2006, 00:15
I am not sure if this belongs in here but its a problem to the working class Canadians
This kind of like Robinhood only in reverse....steal from the poor, give to the rich. Since the GST Tax reduction the Capitalists, the wealthy, have been takeing advantage of the money they save, making large purchases saving hundreds and thousands of dollars. Due to this reduction of revenue, about 5 billion a year, the conservatives have made up for this by rolling back broad income tax cuts promised by the Liberals. Also making up for the lost revenue by increasing the income tax rate from 15% to 15.5% for the Canadians in the lowest personal income tax bracket. "Some lower-income Canadians could pay more tax while the rich, with more to spend, will save more on the GST," reported CTV's Roger Smith. Now the Working class has to make up for the lost revenue while the capitalists get to spend and save more money then before. Therefore the capitalists get richer, widening the gap between the two classes. Not only will this tax cut further oppress the working class but will hurt the economy. "Canadians are being bribed with their own money here and it's probably good politics - unfortunately, because it's not the best way to use that amount of money," said economist Dale Orr. He argued income tax relief would have been more beneficial for the economy, and that the price of small items will adjust to make the cut unnoticeable. Canada should be striving toward class equality and a stronger economy, and not towards more benefiets for the capitalists, who already have more than they deserve.
Thats how I fell about it I was wondering what you guys thought about it
This kind of like Robinhood only in reverse....steal from the poor, give to the rich. Since the GST Tax reduction the Capitalists, the wealthy, have been takeing advantage of the money they save, making large purchases saving hundreds and thousands of dollars. Due to this reduction of revenue, about 5 billion a year, the conservatives have made up for this by rolling back broad income tax cuts promised by the Liberals. Also making up for the lost revenue by increasing the income tax rate from 15% to 15.5% for the Canadians in the lowest personal income tax bracket. "Some lower-income Canadians could pay more tax while the rich, with more to spend, will save more on the GST," reported CTV's Roger Smith. Now the Working class has to make up for the lost revenue while the capitalists get to spend and save more money then before. Therefore the capitalists get richer, widening the gap between the two classes. Not only will this tax cut further oppress the working class but will hurt the economy. "Canadians are being bribed with their own money here and it's probably good politics - unfortunately, because it's not the best way to use that amount of money," said economist Dale Orr. He argued income tax relief would have been more beneficial for the economy, and that the price of small items will adjust to make the cut unnoticeable. Canada should be striving toward class equality and a stronger economy, and not towards more benefiets for the capitalists, who already have more than they deserve.
Thats how I fell about it I was wondering what you guys thought about it