(Un)Taxing Times in Canada?
Tax cuts puts dollars back in the pockets of taxpayers, business owners, and stimulates the economy. The only problem? Will the conservatives still be in power to follow through their plan? I hope so, because without a reduction if net debt our economy will become increasingly inefficient.
Finance Minister Jim Flaherty Thursday released the Tory economic vision aimed at eliminating the net federal debt in next 15 years, steadily cut corporate and personal taxes, and expand private-sector involvement in infrastructure financing. He called it "a matter of fairness for future generations."
He was definite that the interest savings resulting from debt reduction would be applied on cutting personal income taxes. "This 'tax back' guarantee will give Canadians a direct stake and a direct benefit in how we manage government finances on their behalf," Flaherty said. Via Money Times
As an Albertan, I know the impact of spending reductions, the economic benefits. After all we do not need government in the business of recycling our money for us because there is no value created. Let business and entrepreneurs grow, reduce our tax load.