vroom Posted April 21, 2004 Report Posted April 21, 2004 I'd like to see income tax repealed and replaced by the GST... It somewhat puts control of taxation in the hands of the consumer. I can choose to find the lowest priced way of meeting my needs if I so wish. I can't easily move my consumption offshore, since I consume where I am. I may try to ship products in, but generally these are able to be caught and have fees applied now. Right now, those with real money are easily able to create offshore investment vehicles that hide their money and income from government coffers. This is true for companies as well as individuals. Besides, income tax is a direct tax which governments were not supposed to be able to enact in the first place. Finally, the system is already in place for collecting and administering this tax. It is fairly simple. It would eliminate the burden placed on the populace to track and calculate income and it would remove the need for businesses to track, report and mail all kinds of financial documents. Quote
willy Posted April 21, 2004 Report Posted April 21, 2004 90% of our population lives within 100 miles of the boarder. Can we say cross boarder shopping and black market bartering for goods and services. I don't think it is quite this simple. Nice thought though. Quote
vroom Posted April 22, 2004 Author Report Posted April 22, 2004 We already have PST's, GST and cross border shopping issues. I don't think this is going to be a show stopper all of a sudden. With border crossing wait times, random spot checks and whatever else they do now to combat it I think in reality we would be fine. Quote
August1991 Posted April 22, 2004 Report Posted April 22, 2004 If I'm not mistaken, the Bermudan government relies entirely on sales tax for revenue and has no income tax. There's alot of merit to your idea. A sales tax has fewer collection points than the income tax. This means Revenue Canada would deal with fewer people for tax collection. In addition, we pay a sales tax when we buy something; we pay an income tax when we earn money. This distinction is important because the difference is in savings. The income tax discourages people saving. Unfortunately, bureaucrats delight in finding ways to spend money and politicians usually agree. There is little rhyme or reason to our tax system except the logic of what people will tolerate. Politicians shake us down any which way they can. Heck, they sell us Canada Savings Bonds to get the cash. You know the old line? "If it moves tax it, if it keeps moving regulate it and if it stops moving, subsidize it." Quote
Hjalmar Posted April 22, 2004 Report Posted April 22, 2004 James Dale Davidson and Lord William Rees-Mogg have made a number of predictions such as [1] 1987 - The fall of Communism. [2] 1987 - The falling standard of living of blue collar workers. [3] 1991 - The supplanting of Marxism by Islam as the main ideology of confrontation. [4] 1997 - The collapse of the welfare state and the death of nations worldwide. [5] 1997 - The overhaul of the US tax system which will in the future be based on consumption rather than on earnings. [6] 1997 - That the map of the world, including the United States and Canada will look dramatically different. [7] 1997 - That governments will lose their capacity to arbitrarily regulate economies. [8] 1997 - That individuals will gain more autonomy and financial capability than ever before as markets deepen around the world. [9] 1997 - That morality will make a comeback. Take note of how many of their earlier predictions have come true. Don't be surprised if many of their 1997 predictions will also happen. Quote
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