Harper's 5 year plan

[Visionseeker]

Good old Stevie took another stab at buying our votes with our own money today.

Harper promises income splitting once the cows come home

It's not just the 5 year wait that's stupid, but the blatent irrelevance to any near parity double-income household in the country. It's like saying "Hey, all you households with two working parents, I got nothing for you other than you get to pay for stay-at-home moms 5 years from now."

Unbelievable.

[msj]

Even homes with two working parents may see some tax break (if one makes $80,000 and the other is making $20,000 then they stand to save about $1,500).

Of course, that's nothing compared to the household with the $200,000/$0 earner - they will save about $6,500.

And that's just federal tax. If provinces match it then times those numbers by about 1.45.

-------------------

As an accountant I guess I should be happy: it would likely mean more tax returns to do.

But I already do enough and I'm tired of taking money from people who really have no business taking their taxes anywhere.

All these boutique tax cuts are really pissing me off -- I'm a fiscal conservative who prefers a simpler and flatter tax system than whatever crap Harper is selling.

But then, I'm biased.

You see, my wife and I don't have kids and aren't old enough to take advantage of pension splitting.

So, other than TFSA's, we haven't had any kind of income tax cut since Paul Martin cut the rate from 16% to 15% back in 2005.

I don't worry about Harper bribing me with my own money - I worry about him bribing everyone else with my hard earned money.

Edited March 29, 2011 by msj

[WIP]

Good old Stevie took another stab at buying our votes with our own money today.

Harper promises income splitting once the cows come home

It's not just the 5 year wait that's stupid, but the blatent irrelevance to any near parity double-income household in the country. It's like saying "Hey, all you households with two working parents, I got nothing for you other than you get to pay for stay-at-home moms 5 years from now."

Unbelievable.

Didn't they already promise income-splitting during the last election? It could have helped me out if it really happened. And since the federal budget will never be balanced, they'll be able to save the promise for the next federal election.

One thing is apparent here though -- if Harper was ever a supply-sider, he's left the reservation by making the tax cut contingent on a balanced budget. That means that he's not following the accepted wisdom that tax cuts pay for themselves.

[RNG]

Anything that rewards stay at home mom's is worth it. It makes the world a better place. It is good for the kids and good for the nation. I don't know if there are Canadian studies, but I have seen lots of US studies to prove that. If it wasn't so late I'd dig up some links.

I didn't know that a**hole Harper was proposing this. Makes him slightly less of an a**hole IMO.

[Jack Weber]

This sounds like a promise that will never be kept...

Kinda like the Liberal Red Book promises...

[Bonam]

Anything that rewards stay at home mom's is worth it. It makes the world a better place. It is good for the kids and good for the nation. I don't know if there are Canadian studies, but I have seen lots of US studies to prove that. If it wasn't so late I'd dig up some links.

Agreed, financial incentives for one parent to stay at home are a very good thing in this age of declining sub-replacement birth rates.

[August1991]

Didn't they already promise income-splitting during the last election?

That's for pension income.

All these boutique tax cuts are really pissing me off -- I'm a fiscal conservative who prefers a simpler and flatter tax system than whatever crap Harper is selling.

I tend to agree. Harper has made a shambles of the tax code with various exemptions and credits. Even this proposal only applies to couples with kids under 18, income under $50,000 and kicks in - in theory - in about four years.

I understand that Harper has tested these various tax changes for their voter popularity among potential Tory voters. But it still amounts to social-engineering and is no different from the other subsidies, refundable credits, corporate inducements that have littered our fiscal landscape over the past 50 years or so.

Politicians of all stripes just can't stop tweeking the system.

With that said, the creation of the TFSA will arguably be the most significant fiscal change Harper ever instituted. And it was a good one.

Edited March 29, 2011 by August1991

[RNG]

That's for pension income.

I tend to agree. Harper has made a shambles of the tax code with various exemptions and credits. Even this proposal only applies to couples with kids under 18, income under $50,000 and kicks in - in theory - in about four years.

I understand that Harper has tested these various tax changes for their voter popularity among potential Tory voters. But it still amounts to social-engineering and is no different from the other subsidies, refundable credits, corporate inducements that have littered our fiscal landscape over the past 50 years or so.

Politicians of all stripes just can't stop tweeking the system.

With that said, the creation of the TFSA will arguably be the most significant fiscal change Harper ever instituted. And it was a good one.

I'm hard line fiscal conservative. As such, Harper has totally alienated me with just this type of thing. I forget who it was that jumped on me for not liking using the tax system as a method of social engineering. But I don't. However, I hate the use of the tax system as a means of buying votes even more. Sucks to be me.

[RNG]

That's for pension income.

I tend to agree. Harper has made a shambles of the tax code with various exemptions and credits. Even this proposal only applies to couples with kids under 18, income under $50,000 and kicks in - in theory - in about four years.

I understand that Harper has tested these various tax changes for their voter popularity among potential Tory voters. But it still amounts to social-engineering and is no different from the other subsidies, refundable credits, corporate inducements that have littered our fiscal landscape over the past 50 years or so.

Politicians of all stripes just can't stop tweeking the system.

With that said, the creation of the TFSA will arguably be the most significant fiscal change Harper ever instituted. And it was a good one.

What is that tag line from the cheezy commercial? It isn't a big deal, but it's a good deal. TFSA is OK, but small potatoes.

Edited March 29, 2011 by RNG

[Oleg Bach]

Five year plan? Sounds very soveit to me...but then all arch capitalists like to utilize socialist.

[RNG]

Five year plan? Sounds very soveit to me...but then all arch capitalists like to utilize socialist.

You have some serious problems, dude. Have you considered thereapy?

[Oleg Bach]

You have some serious problems, dude. Have you considered thereapy?

Number one my sweet young person...don't call me "dude" and number two...shut the fuck up you dumb twit...besides it's three in the morning here ---- my serious problem is a hang over...by 9 I will be cured by morning you will still be stupid.

[Oleg Bach]

You have some serious problems, dude. Have you considered thereapy?

225 posts and YOU..attempt to tell me to consider "therapy"...I surprised that you did not use the standard conditioned liberal put down of "you had better take your meds".................Jeeez I would hate to be part of your non thinking - unquestionable duped generation.

[Oleg Bach]

Well newbee...what original thought have you had today? NONE...better do some thinking - education does not inspire or expand the mind...education or a degree is a contract that states that you have been formally conditioned and that you submit.

[Shwa]

Five year plan? Sounds very soveit to me...but then all arch capitalists like to utilize socialist.

Well at least we know he isn't fascist since they tend to make 1,000 year plans.

Whew!

Edited March 29, 2011 by Shwa

[scribblet]

Better to make a promise based on fiscal viability rather than making a promise you know you can't keep, although many people want instant gratification then bitch about the deficit.

Income splitting helped senior couples a lot, this will help other couples. Interesting that all parties seem to be agreeing with helping people through tax cuts rather than social programs, maybe a fundamental shift in how governments help people; doing it through through the tax system.

[wyly]

I can't believe people will buy this crap, harper is promising something so far down the road the conservatives may not even be in power in 4 years....any issue in the next 4-5 years would be grounds to delay or negate it, that is if anyone even remembers it being made...does no one recall Harpers income trust promise made and broken?...does no one recall harpers promise of no deficit and a small surplus ?...does no recall harper planning to fix healthcare 5 years ago?...and now there are still people stupid enough to buy into this shit, wow...

the liberals and ndp should get in on this trick..."no taxes for anyone in 2030 if we're elected!"...

what a gullible population we have ...“Conservatives are not necessarily stupid, but most stupid people are conservatives.”- John Stuart Mill

[Bonam]

I can't believe people will buy this crap, harper is promising something so far down the road the conservatives may not even be in power in 4 years....any issue in the next 4-5 years would be grounds to delay or negate it, that is if anyone even remembers it being made...does no one recall Harpers income trust promise made and broken?

Yep, but they also remember his promise regarding cutting the GST to 5%. Promise made, promise kept. And that was the most visible tax cut promise that Harper made.

Anyway, obviously a promise on a timeframe 4-5 years in the future may or may not happen, as a lot can change in that period. But I for one have nothing against politicians trying to plan beyond just the next term. We would benefit from more long term thinking.

[Shakeyhands]

Yep, but they also remember his promise regarding cutting the GST to 5%. Promise made, promise kept. And that was the most visible tax cut promise that Harper made.

=

Yeah, and that one was a stupid promise kept. I'd like to see Ignatieff raise it back up and make more income tax savings. I loves me a good consumer tax!

He must think people are really stupid to fall for something like this "proposed" tax cut...

[scribblet]

And if he promised to cut taxes then didn't, or did and it caused the deficit to go higher, you'd be screaming about that...

[blueblood]

Yeah, and that one was a stupid promise kept. I'd like to see Ignatieff raise it back up and make more income tax savings. I loves me a good consumer tax!

He must think people are really stupid to fall for something like this "proposed" tax cut...

Why is the gst a bad tax cut? Do you plan on not spending your money?

[August1991]

What is that tag line from the cheezy commercial? It isn't a big deal, but it's a good deal. TFSA is OK, but small potatoes.

It may seem like small potatoes now but at 5000/yr, it won't be in a few years time. This basically accomplishes what the GST/RRSP does by imposing taxes on expenditure and not income.

You have some serious problems, dude. Have you considered thereapy?

The general rule around here is that it's not worth messing with Oleg. And every month or three, he has something truly remarkable to add.

[Jerry J. Fortin]

Taxes need to be looked at, there is no doubt of that. On the other hand is the real issue, which is government spending. There is nobody proposing to do anything about it. These folks want to spend money to buy votes, that is how things are done.

[Black Dog]

What a lame-ass campaign promise. Harper's not even buying votes here: he's putting them on layaway.

[WIP]

Anything that rewards stay at home mom's is worth it. It makes the world a better place. It is good for the kids and good for the nation. I don't know if there are Canadian studies, but I have seen lots of US studies to prove that. If it wasn't so late I'd dig up some links.

I didn't know that a**hole Harper was proposing this. Makes him slightly less of an a**hole IMO.

There will be a cost to income-splitting to keep the women at home though! The now forgotten Liberal plans to set up a national day care system would have cost too much to also have support for stay-at-home moms as an alternative. In my situation, I became a sole breadwinner out of health issues that occurred after our children were growing up.

It's likely the wrong thread to open up a philosophical debate, but since you put it out there -- I don't accept your premise that the trend towards women in the workplace is a negative for society. Were things better in the old days? If so, someone will have to explain to me why the remaining traditional societies that keep women sequestered are the most miserable hell-holes on the planet today.