Saturday, March 29, 2014

Harper’s fiscal straight-jacket: $44-billion/yr in reckless tax cuts

Neo-con economist Stephen Gordon has nothing but praise for Harper’s “starve the beast” hidden agenda. He boiled it down to a 4 step process:

  1. Recklessly cut taxes.

  2. Manufacture a budget crisis.

  3. Justify deep cuts to spending.

  4. Go to 1.

According to Harper’s 2009 budget, his first step added up to $44-billion/yr in reckless tax cuts:

Tax Relief Since 2006 Including Measures in Budget 2009

Fiscal Year 2008 2009 2010 2011 2012 2013
(In billions of dollars)
GST cuts 11.6 11.5 12.2 13.1 13.8 14.6
Personal tax cuts 12.0 15.3 13.1 13.6 14.2 14.9
Business tax cuts 5.3 7.1 8.6 10.4 13.8 14.9
Total tax cuts 28.9 33.9 33.9 37.1 41.8 44.4

To put this in perspective, Harper blew threw the $14-billion Liberal surplus he inherited, then blasted a $30-billion/yr hole in the budget.

Fiscal straight-jacket

Harper’s disgusting agenda is to put any future government in a fiscal straight-jacket.

If they attempt to reverse the tax cuts, the Cons can raise the alarm: “tax and spend socialists want to raise your taxes!” If they do nothing, any spending promises will amount to nothing more than token measures.

Go to step 1

Harper’s 2015 election promises of income splitting and doubling the Tax Free Savings Account tax haven — tax cuts that predominantly benefit wealthy Canadians — is his step 4: that is, go to step 1.

Conclusion

We need real leadership that has the balls to stand up to Harper’s morally-bankrupt agenda to cripple government and destroy the social safety net.

Real change means undoing the damage Harper has done, not cementing it in place with a vow not to raise taxes.

2 comments:

  1. No choice for the next 18 months. RESIST.

    Anonymous A

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