Taxes cuts

[Topaz]

Did anyone here watch question period yesterday? I caught the tail end of a conservation that one of the opposition parties had said that the Tories took money out of the EI fund to off set the tax cuts. The minister of EI said not to worry that with EI in its own portfolio and EI premiums will probably go down.

[normanchateau]

Did anyone here watch question period yesterday? I caught the tail end of a conversation that one of the opposition parties had said that the Tories took money out of the EI fund to off set the tax cuts.

By tax cuts, I assume you don't mean income tax cuts. I just looked at the Federal Tax rates on Schedule 1 of my 2007 T1 form. For 2007, they were 15.5%, 22%, 26% and 29%. For 2006, they were 15.25%, 22%. 26% and 29%. For 2005, they were 15%, 22%, 26% and 29%. In other words, for two consecutive years now it appears that the sleazy Harper government has raised the marginal tax rate in a manner which would most affect those in the lowest tax bracket. and they did so at exactly the same time that they had an extraordinary surplus and increased government spending to the highest level in Canada's history. Is this what Harper considers fiscal conservatism?

Meanwhile, in October 2007, the Harper government announced and promised a:

• personal income tax cut retroactive to Jan. 1, 2007, cutting the lowest marginal tax rate to 15 per cent from 15.5 per cent.

I wonder why the reduction from 15.5% to 15%, which merely restored tax rates to where they were in 2005, is not reflected on the 2007 T1 form. Is this incompetence or were the Conservatives merely lying once again as they had about income trusts?

[Topaz]

By tax cuts, I assume you don't mean income tax cuts. I just looked at the Federal Tax rates on Schedule 1 of my 2007 T1 form. For 2007, they were 15.5%, 22%, 26% and 29%. For 2006, they were 15.25%, 22%. 26% and 29%. For 2005, they were 15%, 22%, 26% and 29%. In other words, for two consecutive years now it appears that the sleazy Harper government has raised the marginal tax rate in a manner which would most affect those in the lowest tax bracket. and they did so at exactly the same time that they had an extraordinary surplus and increased government spending to the highest level in Canada's history. Is this what Harper considers fiscal conservatism?

Meanwhile, in October 2007, the Harper government announced and promised a:

• personal income tax cut retroactive to Jan. 1, 2007, cutting the lowest marginal tax rate to 15 per cent from 15.5 per cent.

I wonder why the reduction from 15.5% to 15%, which merely restored tax rates to where they were in 2005, is not reflected on the 2007 T1 form. Is this incompetence or were the Conservatives merely lying once again as they had about income trusts?

I think the point was that they cut taxes, so there would be a loss of revenue, so they went into the EI and took money away from there because there's something like 50Billion setting there. It was also mentioned that it may seem we will be paying less taxes but the point was our taxes will go up 12% over the length of the budgets. Who knows?

[normanchateau]

but the point was our taxes will go up 12% over the length of the budgets. Who knows?

I wonder why this government is so determined NOT to lower personal income tax rates even after years of a huge surplus and increases in government spending. For years, the Reform Party touted the economic benefits of deep personal income tax cuts. Harper was even the Reform Finance critic. Now that he's in government, why are his economic policies more reminiscent of Mulroney than Manning?

[Topaz]

I wonder why this government is so determined NOT to lower personal income tax rates even after years of a huge surplus and increases in government spending. For years, the Reform Party touted the economic benefits of deep personal income tax cuts. Harper was even the Reform Finance critic. Now that he's in government, why are his economic policies more reminiscent of Mulroney than Manning?

The fact that most of the almost 250Billion they the government takes in comes from income tax.

[normanchateau]

The fact that most of the almost 250Billion they the government takes in comes from income tax.

There is also the fact that they've increased government spending to record levels. No Finance Minister in the history of Canada has spent more:

http://andrewcoyne.com/columns/2007/03/fla...ig-spenders.php

[From another nation in Canada]

By tax cuts, I assume you don't mean income tax cuts. I just looked at the Federal Tax rates on Schedule 1 of my 2007 T1 form. For 2007, they were 15.5%, 22%, 26% and 29%. For 2006, they were 15.25%, 22%. 26% and 29%. For 2005, they were 15%, 22%, 26% and 29%. In other words, for two consecutive years now it appears that the sleazy Harper government has raised the marginal tax rate in a manner which would most affect those in the lowest tax bracket. and they did so at exactly the same time that they had an extraordinary surplus and increased government spending to the highest level in Canada's history. Is this what Harper considers fiscal conservatism?

Meanwhile, in October 2007, the Harper government announced and promised a:

• personal income tax cut retroactive to Jan. 1, 2007, cutting the lowest marginal tax rate to 15 per cent from 15.5 per cent.

I wonder why the reduction from 15.5% to 15%, which merely restored tax rates to where they were in 2005, is not reflected on the 2007 T1 form. Is this incompetence or were the Conservatives merely lying once again as they had about income trusts?

My schedule 1 shows 15% is the lowest tax rate, why yours is different?

check the following:

http://www.cra-arc.gc.ca/E/pbg/tf/5000-s1/5000-s1-07e.pdf

[HistoryBuff44]

I wonder why this government is so determined NOT to lower personal income tax rates even after years of a huge surplus and increases in government spending. For years, the Reform Party touted the economic benefits of deep personal income tax cuts. Harper was even the Reform Finance critic. Now that he's in government, why are his economic policies more reminiscent of Mulroney than Manning?

maybe because the economic analysts were saying that canada would weather the US downturn just fine last year; and now are busy pulling their feet out of their mouths. Also, economics 101, when times are good the govt should tax to pay off debt so they can cut taxes when times are not so good.

why do you consider debt repayment a bad thing? every 10 billion in debt we pay off is 500 million in debt servicing costs we save and so can use on the bottomless pit programs.