The Harper/McGuinty HST will save CORPORATIONS in BC and Ontario $8 billion a year in taxes, at the expense of CONSUMERS and will drive a huge underground economy, along with transforming 1,250 Ontario government workers into “no good bastards” (the term recently coined by the Harper government to describe those who are out of work).
I’d like to see a list of which companies are the beneficiaries of this scandalous tax policy. No doubt, the Banks are at the top of that list along with a lot of other businesses that simply act as “toll road” collectors on the residents of Ontario and BC, and for whom leaving these two provinces would mean leaving the VERY source of their business revenues behind.
So why are they getting a corporate tax break? They have no choice but to invest in Ontario and BC, as that is where their “toll road” equivalent businesses are based. Speaking of toll roads, are the foreign owners of the 407 getting this tax break? Does Dalton McGuinty think there is some risk that the owners of the 407 might pick up the road and mover it to some other jurisdiction?
It is for this reason, that all the professed benefits of the HST are illusory, as reducing corporate taxes will do nothing to effect the investment that these businesses that are captive to Ontario and BC will make. However they WILL get their unfair share of this $8 billion windfall that is being totally “underwritten” by consumers in these two provinces.
The effectiveness of the HST in promoting business investment in Ontario and BC be about as effective as the Hone Renovation Tax Credit would have been if the program gave $1,350 to every homeowner IRRESPECTIVE of whether the homeowner spent $11,000 on qualified renovations or not. As such, the HST is like saying to Corporations in BC and Ontario: “Here’s $8 billion. Do whatever the hell you want with it”. Is that smart government? Is that an efficient allocation of lost tax revenue? Not a chance. The HST is a holus bolus and mindless approach to tax policy and economic incentives.
What does Dalton McGuinty have to say about that?. Better yet, what does Ed Clark, the CEO of TD Bank have to say about that, as Dalton was merely Ed Clark’s front man for hoisting this tax on to Ontario residents and reducing the purchasing power of their hard earned money and burdening their investment savings with a new tax at a time when retirement savings are supposed to be a matter of grave public concern?
Premier dares Tories to say whether they'd repeal HST
Embrace it or erase it: That's the ultimatum Dalton McGuinty gave to rival Tim Hudak after the Progressive Conservative leader called the premier "increasingly slippery" in answering questions on the 13 per cent harmonized sales tax.
"I think Ontarians would be interested in knowing why it is that the leader of the Official Opposition is not prepared to repeal the HST," McGuinty said on Tuesday.
He challenged Hudak to write his former colleague, federal Finance Minister Jim Flaherty, asking him to "put a stop" to the HST, which the federal government is advocating.
Flaherty, a former Ontario finance minister and the husband of Hudak's deputy leader Christine Elliott (Whitby-Oshawa), calls the tax "good economy policy."
But Hudak would not take aim at Ottawa. "Our fight is here," he told reporters, repeatedly evading questions as to what a provincial Conservative government would do about the tax if elected in the provincial election in 23 months.
On Monday, Hudak led his MPPs out of the Legislature to protest McGuinty's refusal to hold public hearings on the tax, which will blend the 8 per cent provincial sales tax with the 5 per cent federal GST.
Thursday, November 26, 2009
Posted by Fillibluster at 8:29 AM