Monday, December 31, 2007

Harper Recycles

Stephen Harper, taking a page from Ralph Klein, is recycling old promises and announcements. Guess that's what he considers being Green.

PM kicks off final GST cut at electronics store

Mr. Harper wound up 2007 by holding a news conference at a Mississauga store on Monday to trumpet tax cuts his government has made and which take effect at midnight.

As the year turns, the GST will drop to 5 per cent, something that Harper's government announced months ago.

Mr. Harper said Canadians should not expect further tax cuts in 2008, adding that his government will be cautious on tax relief or new spending.

Even this is not as big a tax break as the corporations are getting thanks to Harpers generosity with our tax money. And what you save in GST you pay back in payroll taxes.

Starting Jan. 1, Canada's corporate tax rate will be trimmed to 19.5 per cent from the current 22.12 per cent. This rate is slated to come down each subsequent year until it is reduced to 15 per cent on Jan. 1, 2012.

As well, the tax rate on small businesses with incomes under $400,000 drops to 11 per cent from the scheduled 11.5 per cent rate.

Of course, what the government giveth, it often takes away and Ottawa has also brought in a slight increase in so-called payroll taxes.

The taxpayers federation estimates that employees will pay an additional $50.43 in 2008 on employment insurance and the Canada Pension Plan, while employers will pay $46.02 more per worker.

And it is the payroll taxes, EI specifically that creates the record Government Surpluses whether that government is Liberal or Conservative.

And note that workers still pay more than employers. Time to abolish taxes on the working class!


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