Our opinions and advice to the world. Updated whenever we get around to it.

This Is a Tax Cut?

Well the idea of tax relief in this years budget just got flushed down the toilet. Based on yesterday's budget:
An Ontario resident earning $80,000 a year would pay about $195 less in taxes in 2009 than he or she would have otherwise, said Tim Cestnick, managing director of national tax services for mutual fund company AIC Ltd. "The savings amount to about a cup of coffee a week."
Ah gee... thanks guys.

Our esteemed Finance Minister, Mr. Goodale claims:
"I am announcing today a set of new measures that will provide further relief to tax payers — especially low-and-most income Canadians, as specifically recommended by this House last fall," he said.
So his idea of tax relief is $195 dollars in the year 2009? What particular weed are you smoking there Ralph? And while I'm at it, what the hell does "low-and-most income Canadians" mean?

Altogether it hasn't been a good year for taxpayers in Ontario. First we had Dalton McGuinty implementing a health levy of up to $900. According to the McGuinty and the Ontario Liberals it wasn't a tax increase.

Now we have a tax cut that amounts to $195 in a couple of years.

Either I've got to read the dictionary a bit more often or Liberals speak a different languange than I do.


Anonymous said...

Dana while you’ve got your dictionary out would you mind looking up
-Ponzi ( I think it’s synonymous with bilked)
-Five Year Plans ( as in back in the USSR).

Our central planners are on the verge of launching another nanny state sink hole and nobody says boo.
What we aren’t launching is a BMD to actually protect us from nut jobs like Kim Jong-Il and nobody says boo about that either.

So just for the record - boo. Ahhhh , that feels better, it’s so NICE to be Canadian.


Christopher said...

well the impact to Ontario taxpayers notwithstanding, it's really nice to see the military get something out of it.

Craig said...

I believe that his comment was:
"Low and modest income Canadians"

Not most - apparently the really poor make a modest income rather than those who are managing to make a low income...Also don't forget that the increases to the personal tax exemption amount starts this year... you will be keeping ~$11! come on - kick in an extra couple of buck and buy reself a 12 pack to celebrate!

Phil Plasma said...

I am sure a lot of Canadians who earn less or a lot less than 80,000$ won't cry a whole lot for that Ontario resident who will pay 195$ less in taxes. Presuming the tax break is proportionally more significant for people who earn less, I think this is the right way to go. I will, however, agree with you that considering the amount of extra money our government has, all of these cuts are insufficient. Let the 80,000$ earner have a tax cut of 1000$, let the 50,000$ earner get the same amount of cut.

Shabbadoo said...

Phil, because the tax cut was in the form of increasing the basic personal exemption, it will result in the same amount of tax saved for anyone who earns more than $10,000 per year...doesn't benefit the rich any more than the poor.

Mike said...

is easy. wealth

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