Federal Budget
They raised the lowest tax bracket rate from 15% to 15.5%!! I like the ideas of these rebates but talk about a complicated tax code! Do I need a receipt for my bus pass? There are some good points. I like the cut to the Natives. We need to stop funding them!! Let them separate and be their own "country" or "nation" but we should have them constantly suckling at our tax tit! Last year we gave them $6 billion dollars!! That amounts to about $5000 per Native! Thanks to some libertarian friends I have changed my bleeding-heart-ways and think letting people stand up for themselves will be more productive. Beside why are we paying? For conquering them? But I digress.
The main problem (and this is the same I had with the Ontario budget) is there is no stable funding or tax shifting. I think tax-shifting is very important and a big problem that needs addressing. The way I see it citizen want most of their services from the lower levels of government but the tax powers and therefore the money is top down. Instead of transferring tax powers to the lower levels of government so they can pay for the desired services, but instead they give one-time funds and so they only patch the problems. This leaves cities and municipalities unable to plan too far ahead for infrastructure when it is cities that drive our economy. But we get the usual begging higher levels of government for one-time funding.
The main problem (and this is the same I had with the Ontario budget) is there is no stable funding or tax shifting. I think tax-shifting is very important and a big problem that needs addressing. The way I see it citizen want most of their services from the lower levels of government but the tax powers and therefore the money is top down. Instead of transferring tax powers to the lower levels of government so they can pay for the desired services, but instead they give one-time funds and so they only patch the problems. This leaves cities and municipalities unable to plan too far ahead for infrastructure when it is cities that drive our economy. But we get the usual begging higher levels of government for one-time funding.
posted by Eddie | 12:33 AM
1 Comments:
You've got that right, Eddie. The modern tax code is just way too complicated. However, it remains in the best interest of government to keep it that way, as it makes full compliance nearly impossible. So, if all else fails, they can always get you on a tax code violation.
From a taxpayers perspective, one of less well known benefits of simplifying the tax code is less beauracracy. Simpler taxes means fewer Revenue Canada workers, meaning additional money in government coffers. Compliance would also increase, which means more tax revenue as well.
I can't imaging how complicated it would be if I was a small business owner. It must be simply maddening.
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