Up here. On personal tax;
– Reduce the GST from 7 per cent to 6 per cent at a cost of $8.6 billion over two years.
– Create a new Canada Employment Credit worth up to $1000. This will cost $2.7 billion over two years.
– Reduce the lowest tax rate from 16 per cent to 15.5 per cent. This will cost $3 billion dollars over two years.
– The basic personal exemption, the amount you can earn tax free, will increase slightly to $8,839. This change will cost $1.58 billion over two years.
– Changes to the rules to allow for the family transfer of fishing property at cost of $120 million over two years.
Emphasis mine, because for some time now, I’ve wondered how it came to be that leaving money in the hands of those who earned it came to be redefined as a “government cost”.
Shouldn’t it be “taxpayer saving”?
From the comments, Chris caught this bit of prose fresh from the “throw a plate of rhetorical spaghetti on the floor” school of journalism;
Now, my favourite part of the CTV’s story is when they say:
“But in an unexpected turn of events, the budget also reneges on the Tories’ pledge to completely eliminate the Liberal’s planned income-tax relief.”
B*$t@rd$! Reneging on a pledge not to cancel tax cuts. What jerks.
More reaction from Stephen Taylor.
Dep’t of Finance 2006 budget page.
Anne, I caught Lloyd, er uh Pete, whatever.
I couldn’t believe her bitching.
My jaw hit the floor when she got snotty about that $2400 dollar tax credit, was “barely noticable”… she appeared offended.
Did any other tax group make out like her family, 2 children = 2 X $1200 !!!
Husband is a gubmint employee, surveyer, I think.
GWGM, good post.
The CBC is an embarrassment. They hunted high and low to find negative stuff. Even my 13 year old commented on the bias.
In regards to Layton and Graham. They’re whipped. They had to give the kneejerk reaction, but couldn’t have sold their mom’s on it. At least Duceppe showed some guts.
Next election, whenever that is, will be unwinnable for the Librano’s. Without Alphonso, Big Paulie and the other capo’s to keep the MSM and the voting blocks in line, these guys look just like used car salesmen. They will have voted against a sterling budget, on top of the other 50 things the CPC will bang them over the head with. It started with Dingwall’s entitlements and has gotten worse since. They may win Emerson’s old riding and CPC should make sure they don’t run against Brison, Belinda and Wayne Easter, just for the entertainment value. Four seats sounds about right. The national Governing Party of Canada will have been reduced to tinfoil hats and pissing into the wind.
Adieu!
Tom
I am still surprised that many taxpayers think they got a reduction with martins reduction to 15% from 16%, when at the same time he reduced the non refundable tax credit to 15% from 16% thereby increasing the amount you pay. As for the lowest tax bracket, that is TAXABLE INCOME not earned income. On your tax return there are three definitions of income-earned income, total income, and taxable income. It is taxable income you have to worry about. High earners with a high taxable income benefit the most, as they got the full 350. reduction on the lowest level, which translated to a lower basic tax and the 26% or 29% on the difference. With the new amounts for credits announced today, be careful, is it a deduction to reach taxable income, or an increase in the amount on line 335 of Sc 1,on which the non refundable tax credit is based. And, did that rate get changed from 15%. That we wont know till next years forms are out. The new 500.00 allowance for tools etc, was back there in the late 1970s and removed by the liberals. Does anyone remember when one used to deduct the entire total on line 335 to reach taxable income. It was a long time ago, then the libs come up with this NRTC, thereby raising your taxable income by 80% as the original rate was 20%. And a very long time ago there was no tax on the first 6000.00 of taxable income.
That was it, a surveyer, thanks!
Nope, they didn’t look like they were hurting at all and you nailed it, she did look offended at the amount she will receive. I like how she mentioned that she thought she should receive a 10-15% tax cut on her income instead. Jim got that one right when he responded that although he doesn’t know what she makes he can guess that her income is quite high and such a tax cut for her would likely result in an unreasonable amount of money being lost to the government.
Count on CBC to have her back on in about a year in a newer, bigger home with a third child so she can lament that she is paying $1600 per month on childcare and can barely make ends meet. She will make a wonderful spokesperson for the National Daycare advocates, bet on it.
The Tories announced their Native priorities:
“Women, Children and Families: The Government recognizes the pivotal roles that Aboriginal women play within their families and their communities and in improving socio-economic outcomes.”
Women, children and families. Guess it’s official then; men are non-persons. I see plenty of f*cked up Native men here in my community and I doubt very much that they are well served at the present by the system. Y’know, it’s funny; I was at the local cop shop the other day and in the lobby there are pamphlets “Crime Prevention for Women”, “Crime Prevention for Immigrants” “Crime Prevention for Seniors”. F*ck, why not just one big brochure on how to protect yourself from the white man?
Oh, and that “child care” credit? A straight cash bribe to women voters so they’ll stop calling Harper “scary”. Men won’t see a penny of it, though men pay most of the taxes in this country.
It is now accurate to say Canada is officially anti-male.
Look, I’ll tell you why the Tories had to cut the GST rather than income taxes: 39% of women taxfilers in this coutry paid zero (0) income tax, OK? So if Harper had focused all of the tax relief on income the women’s lobby would’ve screamed bloody murder that income taxe cuts don’t affect nearly half of them, and that the income tax cuts are sexist and probably racist and ageist too. That’s why Harper cut the GST; so he wouldn’t be called sexist.
Allowing women to vote must always lead to cradle-to-grave socialism: nothing else is possible. When women vote, socialism always must happen. Cause, effect.
The budget is carefully adjusted here and there so that it seems there may be a few *plums* handed out.
What is never talked about are the shuffles that add more government tax flow in dozens of niches that tend to balance out the percieved plums. The budget is a vast and complex set of documents. Even if you manage to find the small stuff, it would take a book to explain it to the public.
There is no tooth fairy, only constuctive *adjustment*. The closest one comes to a tooth fairy is an early info leak that allows you to steal profits in market trades. TG
Thanks, Kate, for posting Stephen Taylor’s link. One immediately notices on reading various reactions to the new budget by governmental, quasi-governmental and non-governmental agencies and institutions that:
All of the groups who have, heretofore, been recipients of the Librano Gravy Train, which has been taking Canada off the rails economically and plunging our productivity into the canyon, are very negative about the new budget. I guess so! It doesn’t “honour” their particular view of the world by perpetuating their grants and “gifts” that financially prop up their Utopian–and often infantile–“social” programs, which have been the backbone of Trudeaupian Canada.
On the other hand, independent groups which recognize the need for Canadians to “do for themselves” rather than rely on Big-Daddy- and Nanny-State-government, recognize the impetus this budget gives to small businesses, families taking responsibility for the care and nurture of their children, etc. In other words, this budget is assuming a more adult approach to nation-building, to put Canada back on the international map, militarily and financially.
‘Was watching TVOntario last night, Studio 2, where Paula Todd was interviewing Jeffrey Simpson (Globe and Mail), John Williamson (Canadian Taxpayers Federation) and Armine Yalnizyan (Canadian Centre for Policy Alternatives) and what a show Yalnizyan put on. Thunder and lightning flashing, she went ballistic because, among other things, the child care benefit to ALL families didn’t help “all of the single parent families” she knows. Well, Armine, welcome to the real world.
I suspect that her organization is called the Canadian Centre for Policy Alternatives, because rather than espouse public policies which actually work to benefit actual family and national needs, her group encourages only policies for alternative lifestyles–lifestyles, BTW, which are crippling this country.
Tories deliver tax-cutting budget
OTTAWA (CP) – During the winter election, Stephen Harper pitched his Conservative campaign directly to voters who “work hard, pay their taxes and play by the rules.”
Average Joes lose
If you happen to be like the vast majority of Canadian taxpayers with a salaried job, normal spending habits and no pre-school children, Stephen Harper’s first budget isn’t going to buy you a beer to cry in. Weston
Tories hope keeping promises will pay dividends
By JIM BROWN +
via cnews