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Canada lost when Ottawa cut the GST


Economics | 208154 hits | Mar 24 7:52 pm | Posted by: BeaverFever
40 Comment

Every percentage point of GST is worth about $7-billion a year. Cutting the tax by two percentage points starting in 2006 makes almost everything the government has done since seem like small potatoes, including last week�s budget

Comments

  1. by Anonymous
    Mon Mar 25, 2013 10:53 pm
    For a sense of scale, reversing the GST rollback would virtually wipe out next year?s projected federal deficit of $18.7-billion.


    R=UP

    That's why every economist (other than Lemmy) said it would create a structural deficit.

  2. by Anonymous
    Mon Mar 25, 2013 11:00 pm
    Chretien thought it was a good idea to get rid of the whole thing.

    "I'll kill da GST"!


    He's dumber than Harper.

  3. by Anonymous
    Mon Mar 25, 2013 11:03 pm
    1993 - Liberal Party Red Book: "A Liberal government will replace the GST with a system that generates equivalent revenues, is fairer to consumers and to small business, minimizes disruption to small business, and promotes federal-provincial fiscal co-operation and harmonization."



    You might call it an HST.

  4. by Anonymous
    Mon Mar 25, 2013 11:10 pm
    "Curtman" said
    1993 - Liberal Party Red Book: "A Liberal government will replace the GST with a system that generates equivalent revenues, is fairer to consumers and to small business, minimizes disruption to small business, and promotes federal-provincial fiscal co-operation and harmonization."



    You might call it an HST.



    and he did none of the above....

  5. by Anonymous
    Mon Mar 25, 2013 11:17 pm
    It wasn't for lack of trying. It's still an option for any province who wants it.

  6. by avatar saturn_656
    Tue Mar 26, 2013 1:00 am
    "Curtman" said
    1993 - Liberal Party Red Book: "A Liberal government will replace the GST with a system that generates equivalent revenues, is fairer to consumers and to small business, minimizes disruption to small business, and promotes federal-provincial fiscal co-operation and harmonization."



    You might call it an HST.


    Fairer to consumers my arse. When Ontario brought in the HST it wasn't much more than a poorly disguised tax hike.

  7. by Hawkes
    Tue Mar 26, 2013 1:05 am
    And just like that we're talking about something else.

    What happened to the topic at hand? What does Chretian have to do with Harper cutting the GST?

  8. by Anonymous
    Tue Mar 26, 2013 1:07 am
    "Hawkes" said
    And just like that we're talking about something else.

    What happened to the topic at hand? What does Chretian have to do with Harper cutting the GST?



    Reducing the GST was a "bad" idea. But getting rid of it all together wasn't an issue.

  9. by Lemmy
    Tue Mar 26, 2013 1:09 am
    "Curtman" said
    That's why every economist (other than Lemmy) said it would create a structural deficit.

    Every economist, eh? You're talking out your ass, Curt.

  10. by Hawkes
    Tue Mar 26, 2013 1:12 am
    "jj2424" said
    And just like that we're talking about something else.

    What happened to the topic at hand? What does Chretian have to do with Harper cutting the GST?



    Reducing the GST was a "bad" idea. But getting rid of it all together wasn't an issue.

    Why deflect from the issue at hand by bringing Chretian up at all? That's all you're doing right now.

  11. by Anonymous
    Tue Mar 26, 2013 1:13 am
    "Lemmy" said
    That's why every economist (other than Lemmy) said it would create a structural deficit.

    Every economist, eh? You're talking out your ass, Curt.

    Possibly. But it turned out to be true. Revenue did not go up, it went down. The laffer curve exists, but nobody in the CPC had any clue where we were on it, or cared. It bought them some votes.

  12. by Anonymous
    Tue Mar 26, 2013 1:15 am
    "Hawkes" said
    And just like that we're talking about something else.

    What happened to the topic at hand? What does Chretian have to do with Harper cutting the GST?



    Reducing the GST was a "bad" idea. But getting rid of it all together wasn't an issue.

    Why deflect from the issue at hand by bringing Chretian up at all? That's all you're doing right now.


    I am sure Curtman voted for Chretien.

  13. by Lemmy
    Tue Mar 26, 2013 1:17 am
    They may not have had any clue about the Laffer curve (I suspect they did), but it turned out not to matter after the economy tanked in the wake of the US financial crisis. The tax relief that many (especially unemployed) Canadians received as a result of the GST cut more than justified the cost of a little deficit. That's what governments are supposed to do: run deficits in hard times to help out hard-hit citizens. You're starting to sound like a heartless conservative when you criticize the government for the GST cut.

  14. by Hawkes
    Tue Mar 26, 2013 1:18 am
    "jj2424" said


    I am sure Curtman voted for Chretien.


    And that has what to do with the article?



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