Provincial tax policies headed in wrong direction
My good blogging pal spinks (aka Spink About It) has an excellent post on the tax policies implemented by the last two New Brunswick governments and how it has resulted in most NBers paying more personal income taxes. For him, it means his provincial income tax bill will be around "89% of what I pay federally". Not exactly, the competitive [tax] outcome he was looking for from the province.Click here for complete Spink From the Right online article.
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NBer - NB - Regressive Tax Regime + Alberta = Prosperity
It's comments like these that remind me why I decided to write this blog in the first place. Let me tell you, anon's beef is relevant and it has serious legs, go ahead and read it: "I am a former resident of New Brunswick, now in the oil patch, an all I can say get out while you can or if you can. The personal income tax rates in the province are from what I understand the highest in the 10 provinces. I am in the trades and felt that the province systematically kept my income low with far too much income taxes as well as the PST. Everytime I thought I was getting ahead I was gauged by more taxes. To hear the MLA's getting raises and that studies indicate that taxes are too high is upsetting at the least. It is the people who work in the middle to low end private sector that suffer the most. My only solution was to leave and not look back until I retire, and believe me that many East Coast- new Albertans have the very same sentiment. It seems that Alberta is a decent model where one industry pays well ans all of the others have to follow suit to get workers, and on top of that we only pay 10% income tax for the province with no sales tax. Go figure! I think that all New Brunswickers should be more prosperous rather than being kept down. And the new slogan "Be.." has all of us former New Brunswickers laughing, then saying it is pathetic."
15 Comments:
That's a great assessment by spinks!!
Which is why your provincial government would be smart in taking advice from both HE and the auditor general, Michael Ferguson. Last year, he confirmed that there was no $400 million deficit, so in retrospect, the tax hikes were unnecessary.
So there is no question, the province is taking in too much in personal income taxes since the economic data did not support the increased taxes. And with high taxes, we have an unattractive and less competitive economy which is a drag on local entrepreneurs and outside investors.
they say Kelly Lamrock must resign, how about starting with Victor Boudreau?
Anon...
can you imagine the pay out and severances... because they are Liberals and they are entitled to their entitlements...
this spinks guy, what tax bracket is he in?
bill: well said!
anon: I agree with Boudreau, however, I don't see what all the fuss is about with Lamrock? I mean honestly, should NB ombudsman Bernard Richard be using taxpayers dollars to investigate whether or not a decision by an elected politicians is correct? And furthermore, if he is investigating on the grounds that the process was undemocratic, wouldn't he have to investigate practically every decision in this province??
kit: Ha! Ha! That line always makes me think of "sticks of gum" and "David Dingwall".
anon: My guess? $120,000 range
I wish. LOL. Middle class to answer the question.
Geez spinks, whataya doing, working for the man? LOL
Wrong man if you think I'm making 120 g's or anything close to that. LOL
We already pay the highest income tax in the country, so any direction but down is not good.
New Brunswick is its own worst enemy, we are among the lowest paid and highest taxed province. And I have to laugh when people say but we have a higher standard of living or housing is more affordable. So that somehow gives the Government the right to loot from us, I don't buy it. That is why the smart ones from here head west to Ontario and the brilliant keep going to Alberta. Sory to say because I have always bragged about this province but we are going nowhere fast. I don't buy into the prosperity plans that the liberals have been banking on since Premier McKenna had the same vision. The only people in the province that do well are the extremely wealthy, ie Irving's who pay poorly because we don't know any better and there is always people lined up for 9 to 10 dollars an hour.
The above makes a good point and one that was echoed in the Telegraph Journal business section today. That being, we need to take some risk if we are to ever develop "a culture of entrepreneurship" as well as "transform the business culture" in NB.
spinks: Ha! Ha! Join the club.
anon: I think it's going to take some "outside the box" thinking because if it looks familiar then there is a good chance it ended in failure...other then the call-centre initiative.
anon:Michael Arbow and Donne Smith make some excellent points. It will be interesting to see what discussions come out of next weeks Fullsail venture capital conference in SJ.
I am a former resident of New Brunswick, now in the oil patch, an all I can say get out while you can or if you can. The personl income tax rates in the province are from what I understand the highest in the 10 provinces. I am in the trades and felt that the province systematically kept my income low with far too much income taxes as well as the PST. Everytime I thought I was getting ahead I was gauged by more taxes. To hear the MLA's getting raises and that studies indicate that taxes are too high is upsetting at the least. It is the people who work in the middle to low end private sector that suffer the most. My only solution was to leave and not look back until I retire, and believe me that many East Coast- new Albertans have the very same sentiment. It seems that Alberta is a decent model where one industry pays well ans all of the others have to follow suit to get workers, and on top of that we only pay 10% income tax for the province with no sales tax. Go figure! I think that all New Brunswickers should be more prosperous rather than being kept down. And the new slogan "Be.." has all of us former New Brunswickers laughing, then saying it is pathetic
TO NBT- We enjoy reading your blog from Alberta and I bring it up with all the people that come from NB when we have gatherings. We discuss it alot too see if any change is coming.
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Thanks for the compliments (and referrals lol). Let's hope someday that some of the status quo thinking (of the last 30-40 years) will be put to rest. If not, I guarantee you I will be joining you and the rest of the ex-pats seeking a better financial living in Alberta.
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