Korean Job Discussion Forums

Octavius Hite

I disagreed with the GST cut in the first place but this is just further proof that Harper's Bush LIte tax plan is pure BS.

http://www.canada.com/topics/finance/briefing/story.html?id=effd4b4f-227c-4c63-b116-2004b1ca623c

mithridates · Posted: Thu Dec 14, 2006 5:53 pm Post subject:

How about a thread about Canada that doesn't reference Bush? Just a thought.

Octavius Hite · Posted: Thu Dec 14, 2006 6:01 pm Post subject:

No apologies, Canadian media and political parties regularly refer to him as bush lite so its not just me bashing Bush, this is about Canadian economic policy, not the chronic Dave's American persecution complex.

Pligganease · Joined: 14 Sep 2004 Location: The deep south...

mithridates · Posted: Thu Dec 14, 2006 6:47 pm Post subject:

Moldy Rutabaga · Joined: 01 Jul 2003 Location: Ansan, Korea

A one percent tax cut is a Bush policy? I don't understand this obsession. Not only is it trivial, but generally, reducing taxes is a good thing in a massively overtaxed and overregulated country such as Canada. I disagree with 6% as well; the damn thing should be 0%.

Why is it that being cordial and borrowing policies from every other country is a good thing, but if a prime minister shows any kind of gregariousness toward the Americans he's a toady? Are we only following our own destiny if we call them 'morons' and 'bastards'? That's not an independent foreign policy; that's teenage petulance.

Ken:>

Manner of Speaking · Joined: 09 Jan 2003

On the other hand · Joined: 19 Apr 2003 Location: I walk along the avenue

some waygug-in · Joined: 25 Jan 2003

It was stated years ago that the GST costs more to administer than it generates in revenue. Confused

It always was a stupid tax, badly thought out and bad for the economy.

Why don't they do something that makes sense like cutting the rate in half and stop giving the rebates... ?

They would still come out ahead I imagine.

igotthisguitar · Posted: Sat Dec 16, 2006 12:52 am Post subject:

The IMF along with the rest of the global "banking" community should give up their criminal interest racket Idea

Octavius Hite · Posted: Sat Dec 16, 2006 2:23 am Post subject:

some waygug-in wrote:

Moldy Rutabaga · Joined: 01 Jul 2003 Location: Ansan, Korea

Octavius Hite · Posted: Sat Dec 16, 2006 3:04 am Post subject:

OK here goes, when the GST was implemented it was designed to replace the MST (manufacturing sales tax) which was suposed to do 4 things: 1. give manufactureres a competitive edge in international trade. 2. make the tax open and thus harder to raise in the face of public ire at tax raises 3. create a more fair tax that is spread across all income brackets. 4. create a steady income stream to help bail out the government who at its height under mulroney was running a 40+ billion dollar a year deficiet.

Finally, if the tax was so bad and ineffective then the politicans would have scrapped it already as the Liberals and the Conservatives have claimed they would do. Until the debt is paid off the GST is needed and is effective in keeping the governement in surplus. Its an effective, stable and garunteed source of revenue for our government.

Just cause you don't like it, doesn't mean its ineffective or a bad tax, we all hate it but it works.

some waygug-in · Joined: 25 Jan 2003

Talking out of my butt? Well, I did eat some burritos... Laughing

This is not something I cooked up, I'm just repeating what I've heard about the said tax.

If it's such a good idea, why not make it a one way tax at a lower rate and do away with the rebates?

That's the part that makes no sense to me.

And it did and still does have a very stifling effect on the economy.
I'm not saying do away with it,(if it is really needed) just make it more reasonable.

Perhaps I and others are just misunderstanding this:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=871737

Or perhaps people are counting the lost tax revenue that is going into the underground economy?

http://www.enterstageright.com/archive/articles/0797gst.htm

I am no tax expert, but I do feel that the introduction of the GST has been bad for average Canadians.

Bondrock · Joined: 08 Oct 2006 Location: ^_^

Hite wrote:

Its an effective, stable and garunteed source of revenue for our government.
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gambling revenue is also stable and guaranteed, but in the end it sticks it to the poor... the GST is another bloated government make-work scheme... it has never been profitable....