GST - Should it be raised?

[captain morgan]

Yup. Another good fallacy that the right suffer from.

I suggest everyone picks up this wonderful book which points out economic fallacies of both the right and left:

Mine is coming in by the end of the week.

You shoulda saved your money... It's called socialism: All one needs to do is read through Marx's treatise and you'll get the skinny on how things 'ought to be'.

I won't give away the end, but it ain't pretty

 

[relic]

Re #6,I don't believe the cut was passed on to the consumer,sure the govt made the cut but it got sucked up in the middle.The only thing that cut did,aside from getting harpo a few votes was to put us farther in the hole,that ten billion a year would have come in handy I figure,meby they wouldn't be asking for ten percent cuts now.Of course we can always blame the Turks or Greeks but that ten billion times what five,wow thats handy what the deficet is.And harpo is an accountant ?

 

[mentalfloss]

You shoulda saved your money... It's called socialism: All one needs to do is read through Marx's treatise and you'll get the skinny on how things 'ought to be'.

Looks like you took the bait, because the author also criticizes the left and Marxism.

 

[captain morgan]

Re #6,I don't believe the cut was passed on to the consumer,sure the govt made the cut but it got sucked up in the middle.The only thing that cut did,aside from getting harpo a few votes was to put us farther in the hole,that ten billion a year would have come in handy I figure,meby they wouldn't be asking for ten percent cuts now.Of course we can always blame the Turks or Greeks but that ten billion times what five,wow thats handy what the deficet is.And harpo is an accountant ?

It comes down to this:

Canada doesn't have an income-problem, we have a spending problem... Keep shooting the goose that lays the golden eggs and I guarantee that you'll have this problem fixed in the same way that Greece is being forced to repair their situation.

 

[mentalfloss]

Canada doesn't have an income-problem, we have a spending problem...

Well I definitely agree that rampant consumerism is bad.

 

[DurkaDurka]

It comes down to this:

Canada doesn't have an income-problem, we have a spending problem... Keep shooting the goose that lays the golden eggs and I guarantee that you'll have this problem fixed in the same way that Greece is being forced to repair their situation.

From what I read, Canada has some of the lowest corporate tax rates around?

 

[captain morgan]

Looks like you took the bait, because the author also criticizes the left and Marxism.

I get it.. So the author's answer is to don a pair of ruby slippers, click the heels together 3 times and say "there's no place like home"?

What a plan... Send some copies to Greece, no doubt that they'll appreciate it!

 

[mentalfloss]

I get it.. So the author's answer is to don a pair of ruby slippers, click the heels together 3 times and say "there's no place like home"?

Yes, the author's answer is <insert cap morgan fluff here>.

 

[JLM]

It comes down to this:

Canada doesn't have an income-problem, we have a spending problem... Keep shooting the goose that lays the golden eggs and I guarantee that you'll have this problem fixed in the same way that Greece is being forced to repair their situation.

As is evident from the line ups at Big Macs and Timmy's. :lol:

 

[captain morgan]

From what I read, Canada has some of the lowest corporate tax rates around?

In terms of Western democracies, you are dead right, but factor-in the layers of taxation and you'll see why there is pressure to move certain industry offshore (on top of wages)... Right now, everything that you touch (ie: manufacturing sector - it's the easiest example) is taxed multiple times before you even take possession of the raw materials... All these costs get passed down the line until such time that the consumer pays the final bill.

Factor-in foreign competition (price wise) and you complicate the equation further. In the end, it's an impossible situation.

As is evident from the line ups at Big Macs and Timmy's. :lol:

I'm talking Federal/Provincial gvt spending

 

[mentalfloss]

I'm talking Federal/Provincial gvt spending

Captain morgan supports iphone chugging 99 per-centers confirmed.

 

[Goober]

In terms of Western democracies, you are dead right, but factor-in the layers of taxation and you'll see why there is pressure to move certain industry offshore (on top of wages)... Right now, everything that you touch (ie: manufacturing sector - it's the easiest example) is taxed multiple times before you even take possession of the raw materials... All these costs get passed down the line until such time that the consumer pays the final bill.

Factor-in foreign competition (price wise) and you complicate the equation further. In the end, it's an impossible situation.

Do not labor costs also contribute to this? We see in the latest negotiations in the auto industry lowering of pay rates on the US side. Once the labor costs for semi skilled - read many in manufacturing - hit a price line, off the jobs go. To expensive to compete against with foreign imports.

 

[captain morgan]

Captain morgan supports iphone chugging 99 per-centers confirmed.

You still drunk from the weekend?

I can barely understand your posts

 

[JLM]

In terms of Western democracies, you are dead right, but factor-in the layers of taxation and you'll see why there is pressure to move certain industry offshore (on top of wages)... Right now, everything that you touch (ie: manufacturing sector - it's the easiest example) is taxed multiple times before you even take possession of the raw materials... All these costs get passed down the line until such time that the consumer pays the final bill.

Factor-in foreign competition (price wise) and you complicate the equation further. In the end, it's an impossible situation.




I'm talking Federal/Provincial gvt spending

The electorate wants services, very few do anything for themselves anymore, even have to get the gov't to dictate what they should be paid! The WHOLE system is a joke! :-(

 

[captain morgan]

It's getting that way

 

[mentalfloss]

The electorate wants services, very few do anything for themselves anymore, even have to get the gov't to dictate what they should be paid! The WHOLE system is a joke! :-(

The government controlling expenditures, nor the amount of expenditure is not the real problem. It's what those expenditures are that should be the focus.

The problem can only be resolved with more transparency and accountability.

 

[Spade]

If I were a manufacturer of widgets in Canada, I would pay GST on purchases from my suppliers. But those are ITC credits which reduce the sum I must remit to Canada Revenue of the GST I collect from the purchasers of my product. In other words, GST is not a compounding tax, but is paid by the consumer of the end product. Businesses do not pay GST unless they are the consumer. Most are not.
Yes, the GST is a consumption tax; it can be controlled by an individual's purchasing habits.

 

[JLM]

The government controlling expenditures, nor the amount of expenditure is not the real problem. It's what those expenditures are that should be the focus.

The problem can only be resolved with more transparency and accountability.

It's a operation that comes under the heading of bureaucracy, which is one area where money is being squandered. Cut all this sh*t, reduce gov't. to enacting legislation and a secondary role of being a watchdog for the treatment of children and the handicapped. All able bodied should be able to fend for themselves.

If I were a manufacturer of widgets in Canada, I would pay GST on purchases from my suppliers. But those are ITC credits which reduce the sum I must remit to Canada Revenue of the GST I collect from the purchasers of my product. In other words, GST is not a compounding tax, but is paid by the consumer of the end product. Businesses do not pay GST unless they are the consumer. Most are not.
Yes, the GST is a consumption tax; it can be controlled by an individual's purchasing habits.

I agree that G.S.T. is one of the least heinous of taxes, but the amount levied should be a bare minimum. One thing it does do is reduce the amount of spending consumers can do. Case in point is the truck I'm shopping around for. It's just taking the price for me from being easily affordable to barely affordable, but for someone in even slightly less lucrative straits, it takes it from being affordable to unaffordable, hence harming business.

 

[Spade]

The exporting of jobs to take advantage of third-world wages (akin to slavery) and environmental standards is a problem government must address. Government must not be blinded by free-market arguments that reduce standards for all. Capitalism must be bridled by conscience.

 

[JLM]

If I were a manufacturer of widgets in Canada, I would pay GST on purchases from my suppliers. But those are ITC credits which reduce the sum I must remit to Canada Revenue of the GST I collect from the purchasers of my product. In other words, GST is not a compounding tax, but is paid by the consumer of the end product. Businesses do not pay GST unless they are the consumer. Most are not.
Yes, the GST is a consumption tax; it can be controlled by an individual's purchasing habits.

That part's good but curtailing the individual's purchasing habits is bad! :smile:

The exporting of jobs to take advantage of third-world wages (akin to slavery) and environmental standards is a problem government must address. Government must not be blinded by free-market arguments that reduce standards for all. Capitalism must be bridled by conscience.

And that part is going to get worse if Gov't. keeps increasing minimum wage. :smile: