[DerbyX]

Thematic-Device Thematic-Device:

ROCKaMIC ROCKaMIC:

Why not cut income taxes instead and use the surplus to pay the debt faster.

Sales taxes are regressive and make the poor pay a higher percentage of their income into it.

Progressive income taxes are in the end the way to go IMO, Canada could survive, however, with slightly lower income taxes, and far lower sales taxes.

I'm not so sure. Sales taxes get everybody (more or less) including the millions of visitors coming to Canada. Not everyone pays income tax and many find ways to live here without having to pay it. It is impossible to avoid paying sales tax because its on everything. Eliminating it would put an even greater tax burden on those who pay income tax.

Low taxes are the way to go though because it helps keep an economy vibrant. I agree absolutely with paying down our fed debt, something all the people bitching about that the surplus is "their money" don't seem to realize is Canada's best and quickest route to greater economical power.

When a "surplus" is used to pay down the debt then it really isn't a surplus. The Libs have always budgetted with that very idea in mind. Every year we pay down the debt means even more money next year.

[ridenrain]

Sure, an occasional surplus could be used to pay the debt down faster but a surplus, year after year shows that the Gov. is simply taking way more money than it needs. Simple budgeting dictates you set a plan, and stick to it, not hord money till an election then spend like drunken sailors.

Remember, the liberals got into this whole mess because they have NOT been trustworthy with OUR money.

[DerbyX]

the facts show them paying down the debt by billions every year. I can't see how that doesn't benefit all Canadians everywhere. They went out of their way to budget precisely to produce a "surplus" so they could do just that. Regardless of their recent scandals, that simple fact alone stands out as a great achievement and if it was done by the conservatives you would be trumpeting that accomplishment. Are you saying that if the conservatives form the next government they will not put any money towards paying down the federal debt? That should be an absolute campaign promise of every single party. In these strong economic times is when we should be paying the most money towards the debt because we won't be able to during a recession.

[-Mario-]

That wouldn't work in NS... We have HST...

[Thematic-Device]

DerbyX DerbyX:

Thematic-Device Thematic-Device:

ROCKaMIC ROCKaMIC:

Why not cut income taxes instead and use the surplus to pay the debt faster.

Sales taxes are regressive and make the poor pay a higher percentage of their income into it.

Progressive income taxes are in the end the way to go IMO, Canada could survive, however, with slightly lower income taxes, and far lower sales taxes.

I'm not so sure. Sales taxes get everybody (more or less) including the millions of visitors coming to Canada. Not everyone pays income tax and many find ways to live here without having to pay it. It is impossible to avoid paying sales tax because its on everything. Eliminating it would put an even greater tax burden on those who pay income tax.

Low taxes are the way to go though because it helps keep an economy vibrant. I agree absolutely with paying down our fed debt, something all the people bitching about that the surplus is "their money" don't seem to realize is Canada's best and quickest route to greater economical power.

When a "surplus" is used to pay down the debt then it really isn't a surplus. The Libs have always budgetted with that very idea in mind. Every year we pay down the debt means even more money next year.

Sales taxes do (Generally) get everyone, but they get the poor at a far higher amount since they only tax consumption, and the poor have a far higher (often 100%) of their income going to consumption.

The way I see it, capital gains should be counted in with income, with a reduction in deductions, and the federal sales tax should be eliminated. Thereby making the income tax more efficient and decreasing the burden on the poor.

The bulk of the people who pay income tax ussually don't do so because they don't have much income in the first place

[DerbyX]

$1:

Sales taxes do (Generally) get everyone, but they get the poor at a far higher amount since they only tax consumption, and the poor have a far higher (often 100%) of their income going to consumption.

Thats why we have the GST rebate. It helps offset the burden to the poor. Those same poor won't pay income tax because they are below the threshold. Without sales tax then they would not be.

$1:

The way I see it, capital gains should be counted in with income, with a reduction in deductions, and the federal sales tax should be eliminated. Thereby making the income tax more efficient and decreasing the burden on the poor.

Capital gians from interest and/or stocks & bonds? I believe they are income. The problem is that if you put greater tax burden on the rich then they will just take their money elsewhere. Witness the UK when ever a tax unfriendly gov't gets in power all the rich simply migrate to spain or france or wherever to avoid the tax. The same will happen here. A recent investigation by the Star shwed that the well off in Canada really do pay their fair share and more.

$1:

The bulk of the people who pay income tax ussually don't do so because they don't have much income in the first place

I'm sorry but that just isn't true.

[Thematic-Device]

DerbyX DerbyX:

$1:

Sales taxes do (Generally) get everyone, but they get the poor at a far higher amount since they only tax consumption, and the poor have a far higher (often 100%) of their income going to consumption.

Thats why we have the GST rebate. It helps offset the burden to the poor. Those same poor won't pay income tax because they are below the threshold. Without sales tax then they would not be.

or if you simply eliminated the GST entirely, you reduce overhead requiring less taxes. Furthermore, the sales tax tends to be a less efficient tax then the income tax to my recollection and is the reason that many states in the US have augmented their sales taxes with income taxes, despite sales taxes being the traidtional source of income (that and the lottery)

$1:

$1:

The way I see it, capital gains should be counted in with income, with a reduction in deductions, and the federal sales tax should be eliminated. Thereby making the income tax more efficient and decreasing the burden on the poor.

Capital gians from interest and/or stocks & bonds? I believe they are income. The problem is that if you put greater tax burden on the rich then they will just take their money elsewhere. Witness the UK when ever a tax unfriendly gov't gets in power all the rich simply migrate to spain or france or wherever to avoid the tax. The same will happen here. A recent investigation by the Star shwed that the well off in Canada really do pay their fair share and more.

Capital gains falls under a capital gains tax, not the income tax. Thus leading to the deceptive quality that some of the wealthy are evading paying income tax.

Its one thing in europe where moving 30 miles and declaring residence in a different country can change your tax brackets. In canada and the US, most people don't have that luxury. For example, where exactly would a trader at wallstreet move to?

$1:

$1:

The bulk of the people who pay income tax ussually don't do so because they don't have much income in the first place

I'm sorry but that just isn't true.

Excluding people whose primary income comes from capital gains (theres no easy way of factoring them in, they don't pay income tax, but they do pay taxes on their income) It generally is true, at least for the states, the an average family of 4 with a single income earner will probably end up in the bottom bracket if at all as I recall.