Taxes, taxes and more taxes!!
I always said there was a downside to giving "new" taxing powers to municipal regimes (as all people need is to have their liquor taxed).
With policies such as these at the local level, and with flip-flop McGuinty in power provincially, it really doesn't surprise me to see that Ontario has one of the latest dates in Canada for Tax Freedom Day ahead of only Saskatchewan, Quebec and Newfoundland and Labrador.
Definition of Tax Freedom Day : the day of the year when taxpayers finally start working for themselves after working since January 1st to pay the equivalent of the total tax bill imposed on them by all levels of government. This year it officially falls on June 20th. See table below. (Courtesy of the Fraser Institute) **click to enlarge**
5 Comments:
After all the bickering in Nb over the past few months, I see that tax freedom day has fallen on the same day as last year.
ellen, I figured somebody would make a mention of that. lol
However, I think exorbitant property assessments, reneging the full rebate of the provincial portion [eight per cent] of the HST on electricity and other home-heating sources, liquor price hikes, income tax increases and higher small business taxes were off-set by the strength of a full year’s impact of the GST cut.
If property, income and business taxes had of been lower in the province, we would have had an earlier tax freedom day.
Unfortunately, we ended up with the same date as last year so, in turn, we made no progress.
Yes, but the logic is still 'ironical'. Taxes went up, both municipal and provincial. Which means....something is amiss. How do you have the same tax freedom day when all of the taxes go up?
This blends into the blog over at SPinks about taxes and how people feel about them. Here in ontario, like you say, it has the latest tax freedom day (once again for those who haven't been to Spinks blog Bob Rae's NDP government was the first to cut taxes showing its not a 'party issue').
However, most polls show McGuinty will probably win again as the consensus, and popular media state 'the economy is good'.
In ontario there are tons of jobs and tons of wealth. Even though McGuinty laid a massive tax on people, at least it is a progressive one...the more you make, the more you pay.
So I suspect you give a person a good job with decent pay and they will have no problem with taxes. Since there is no change from last year however, you should be HAPPY. That's because your tax freedom day hasn't changed from last year, while there have been massive investments in military and police forces, which you said you support. So that is GOOD news for you.
However, most polls show McGuinty will probably win again as the consensus, and popular media state 'the economy is good'.
There are more issues to politics than just the economy. The "trust" and "leadership" issues always comes into play come election time. (just look at Paul Martin's Liberals) They suffered from a deficit in both and ended up losing power.
Which is probably why McGuinty and Tory are currently in a dead heat at around 29.8 % of popular support. Usually, a sitting government leads in the polls going into a campaign, however, fixed elections dates didn't allow the premier to pull the plug when it best suited his party.
I didn't say McGuinty was going to win, I said the popular commentary in most of the media say he will because the economy is good. That's true, there are of course other factors, but ask yourself this, we pay $800 more in taxes than four years ago, had that happened under Lord, how different do you think the election would have been if you had $800 less in your pocket.
I wouldn't put money on who will win, but when the economy is good, people generally stick with 'the devil you know'.
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