Federal Budget 2016: Increase the Gasoline Excise Tax!

[msj]

Ok ok, fair enough....

[August1991]

The problem with Socialists is there is never an end to the number of 'good' things they want to do with other people's money, nor ever an end to their determination to take as much of that money from other people as possible. After all, they can use your money more wisely than you can.

But Argus, an increase in the 10 cent federal gasoline excise tax to 20 cents would protect the environment. We would tax carbon dioxide emissions.

Like a tax on cigarettes, the purpose is not to increase government revenues - it is to change behaviour.</irony>

Edited February 18, 2016 by August1991

[overthere]

I find it pretty unlikely that the combined taxes a person making $20k a year pays is less than $400.

I know at least one senior with a gross income from all sources of about $23,500 who pays a net income tax of $370. I have done her return for several years. At $20K a few years ago she paid about $100 net income tax.

[cybercoma]

And any time she spends money on nearly anything, she pays consumption taxes.

[dre]

Raise it by 25 cents.

Lower the bottom income tax bracket from 15% to 14%.

Voila: taxing consumption, taxing carbon, lowing income taxes, gives Trudeau further political capital to build the pipeline out east.

I would rather see consumption taxes done away with, and have the money displaced by increasing the graduated personal and corporate income tax. Higher taxes on income/profit encourage companies to spend on tax deductible items and items that can be depreciated over time. Like new facilities, new equipment, etc. For example when they cut the corporate tax hoping companies would invest in new equipment and facilities and hire new workers, all those companies did was increase their cash reserves. They actually cut spending on staff and equipment.

Id like to see that as a business owner as well. One tax... one bureaucracy.... simple graduated formula.

[overthere]

And any time she spends money on nearly anything, she pays consumption taxes.

and gets a GST rebate four times a year.

[August1991]

I would rather see consumption taxes done away with, and have the money displaced by increasing the graduated personal and corporate income tax.

Even poor people save. Smart poor people save by investing in their children.

Dre, you would encourage current consumption; rather than a RESP or TFSA. Among other things, the GST makes the choice between present and future less distorted.

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My OP concerned the federal excise tax on gasoline. It looks like Morneau may be smart after all. Link

(BTW, the current 10 cent federal excise tax amounts to a $20/tonne CO2 tax - give or take.)

Edited February 20, 2016 by August1991