Cuts GST to 5% by January; personal income taxes for 2007; corporate taxes over five years ...Read the full article
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Steven Koning from Bloomfield, ON, Canada writes: What is there not to like? It's interesting that with the planned cuts in business taxes, the effect of last Hallowe'en Income Trust changes will be ameliorated, so IT units should see a bounce to day on the markets. This economic statement will also leave room for provinces to start taxing so they can meet the needs of their own jurisdictions in health, welfare, education, infra-structure, city needs and transportation. The governments that spend should be the taxers in a responsible and accountable to the electorate governance structure.
- Posted 31/10/07 at 5:20 AM EDT | Alert an Editor | Link to Comment
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varun xm from toronto, Canada writes: Good job guys. kudos for keeping the ship steady despite a minority government and keeping your campaign promise.
- Posted 31/10/07 at 5:24 AM EDT | Alert an Editor | Link to Comment
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Michael Powers from Canada writes: I didn't think that I'd live long enough to see a Government actually give Canadian Taxpayers a tax cut. I was wrong, Harper did come thru on at least this promise.
Unfortunately, we will now be subjected to numerous Liberal, Bloc and NDP posters that will claim that it was done the wrong way and that this is just a ruse to help Harper implement his secret adgenda. I really don't care what their spin will be, it was about time.- Posted 31/10/07 at 5:31 AM EDT | Alert an Editor | Link to Comment
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Jason Roy from Nova Scotia, Canada writes: Michael Powers from Canada writes:
'Unfortunately, we will now be subjected to numerous Liberal, Bloc and NDP posters that will claim that it was done the wrong way and that this is just a ruse to help Harper implement his secret adgenda.'
Duh! :-)- Posted 31/10/07 at 5:37 AM EDT | Alert an Editor | Link to Comment
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bill stenner from Canada writes: I find the numbers just a little flawed. Really nice of the party that created the GST in the first place to reduce it. Except for another flawed aspect. It was created to reduce the federal debt in the first place. The debt was around 400 billion dollars last I saw. This means 40 Billion a year in interest is being wasted.. or 400 Billion dollars in interest over 10 years. Which the Tories are taking out of your pocket by not taking down the debt seriously. They would rather buy your vote with pocket change. Canadians are fools as ever. Case in point.. a couple years back i went looking to see just how much the government took in every year from GST. I seem to remember the Tories saying they figured they might take in 11-13 Billion when they first started the GST. Now if you look at the numbers that they are quoting as of late.. and the Globe only goes to help push the bs along its an estimated 30.1 Billion total GST collected. Except thats not the total collected before payouts. The GST/HST collected in the annual report to parliament in 2003 was around 90 Billion or so with the gov. clearing 29 Billion clear. I personally find it a tad difficult in an economy that is roaring along far more than in 2003 and with only a 1% cut to GST last year that nothing has changed since then. Sounds like some kind of creative bookeeping to me. Which is typical. There is a pie chart in this link from 2003-4 that shows the gst revenue(after payouts) http://www.cra-arc.gc.ca/agency/annual/2003-2004/financial-e/fin_stmt_mgmt_dscn7-e.html If they arent going to pay the debt as they promised years back..then why not just eliminate the GST entirely? The Tories are the same slime buckets they were years ago..and not much different than the Liberals. The Liberals did throw 80 Billion at the debt though. Tories would rather spend it on wars..and other right wing propoganda.. go figure.
- Posted 31/10/07 at 5:54 AM EDT | Alert an Editor | Link to Comment
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W. Mayne from Canada writes: Virtually, every economist has criticized the Conservative policy of lowering the GST, they argue, correctly, that larger personal and business income tax reductions would be better for Canada. We must remember that Flaherty is not an economist, he is a lawyer and a politician! His primary concern is the next election, not the future of Canada.
- Posted 31/10/07 at 5:59 AM EDT | Alert an Editor | Link to Comment
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Stude Ham from Outremont, Canada writes:
tax cuts and flakey do not give comfort to anyone who experienced this combination in the ontario harris days. these horse gifts from the flake were then followed by some of the most cruel tax burden shifts, and government service cuts which eventually unravelled tragically in Walkerton.
as it stands, the tax cuts announced by the flake will be of no benefit to anyone. all that will happen is a tax burden shift. this burden shift was first noted in Toronto with the mayors new taxes because this conjob in ottawa will do nothing for the cities. Get ready... get set... because the othe flakey shoe has not dropped yet.
if the flakey announcements were in fact so sky high good, why were they not announced in front of a convened parliament, as these properly should have been?
Don't be fooled. We will all pay heavily for these flakey tax cuts. This was his style under the ontario harris.- Posted 31/10/07 at 6:05 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
Call it what you want, but this was no update-it was, and is a Budget, a very political one at that.
Why does Dion keep allowing himself to be politically snookered? Yesterday, almost during the reading, Duceppe and Layton already staked out their positions and would vote NO for the budget-leaving Dion as the Harper/Flaherty Kingmaker, or goat responsible for calling an election.
We know Layton wants an election now and with reason (gain of 10 seats from LPC) but perhaps Duceppe doesn't want to go to the polls right now.
Watch for a fast and furious slate of laws that the CPC will bring forward. Dion will continue to have NO choice, then a spring or fall CPC engineered election 2008 election with the CPC running on their record-and Dion running on what? Social justice? Kyoto?
For the best of the LPC, Dion should vote this down, force an election, let the cards fall where they may, and allow the LPC to find a new leader and FINALLY and RIGHTFULLY renew itself at last.
.- Posted 31/10/07 at 6:06 AM EDT | Alert an Editor | Link to Comment
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George S from Toronto, Canada writes: Hopefully these tax cuts balances out the fact that our dollar is rising and their might be less investment in our economy by outside sources because we aren't such 'a good deal' anymore.
- Posted 31/10/07 at 6:08 AM EDT | Alert an Editor | Link to Comment
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Emma Hawthorne from Canada writes: Let's not forget that 5% of this will flow right back into government coffers as $3B in gst taxes, and hopefully be used to pay down the deficit even further.
- Posted 31/10/07 at 6:13 AM EDT | Alert an Editor | Link to Comment
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Chris Lalonde from Singapore writes: The only thing I don't like about this is personal income should be cut not the GST. This encourages people to spend. Already the savings rate of the average Canadian is terrible. This is potentially a ticking time bomb. The government should encurage people to save.
- Posted 31/10/07 at 6:19 AM EDT | Alert an Editor | Link to Comment
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Jason Roy from Nova Scotia, Canada writes: bill stenner from Canada writes: 'I find the numbers just a little flawed. Really nice of the party that created the GST in the first place to reduce it. Except for another flawed aspect. It was created to reduce the federal debt in the first place. The debt was around 400 billion dollars last I saw. This means 40 Billion a year in interest is being wasted.. or 400 Billion dollars in interest over 10 years. Which the Tories are taking out of your pocket by not taking down the debt seriously. They would rather buy your vote with pocket change. Canadians are fools as ever. If they arent going to pay the debt as they promised years back..then why not just eliminate the GST entirely? The Tories are the same slime buckets they were years ago..and not much different than the Liberals. The Liberals did throw 80 Billion at the debt though. Tories would rather spend it on wars..and other right wing propoganda.. go figure.' Bill Stenner, the federal debt was 562B in 1997 and as of 2006 had been reduced to 481B. After application of this years surplus (14B) and a repayment of 10B next year it will be approximately 457B for a total reduction of 103B over approximately 11 years. So based on this, it certainly seems to me that the debt certainly is being repaid by both LPC and CPC governments. Of the total before this year (81B); 68B was paid repaid by the LPC and 13B by the current government (although the 13B was the last surplus credited to the previous government). If you think the debt is not being repaid then I would suggest removing your blinders and Plexiglas lenses.
- Posted 31/10/07 at 6:22 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
A poster above states the following, 'if the flakey announcements were in fact so sky high good, why were they not announced in front of a convened parliament, as these properly should have been?'
Amazing howspin and false information always tries to trump the truth.
FACT: The CPC wanted to present this in the House of Commons but unanimous consent was NOT given caused by the NDP. Therefore, the need to present this out side the HOC.
As for the rest of that post.........
.- Posted 31/10/07 at 6:26 AM EDT | Alert an Editor | Link to Comment
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janfromthe bruce from Canada writes: One poster suggested that these taxcuts were the first; however, Martin also gave taxcuts after balancing the budget on the backs of cuts in transfer payments to provinces and cuts in social spending. This social spending was not the cause of the deficit/debt, but due to govt fight against inflation and trying to get down to under 2%. Incidently, I am no liberal fan, but I prefer the truth to misrepresentation of the historical facts.
When Canadians are asked, over and over again, what they want Ottawa to do with surpluses and direction of govt funds, the majority say to take care of health, education, and poor kids. As usual, there is nothing here for these files, and poor kids and the families they live in are again, neglected.
But if you are all about military war buildup, well that program is swelling.- Posted 31/10/07 at 6:28 AM EDT | Alert an Editor | Link to Comment
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Paul Byer from Canada writes: Imagine a budget for the taxpayers and not the ruling government!All will enjoy it but some will still gripe and groan and complain about hidden agendas while spending the money. Anyone know what time the sky is supposed to fall? Enjoy a time when Canada stands proud once again and a government really is working effectively for the people it represents. It has been rare indeed in my lifetime of over half a century. And yes, I had trust income investments and am only making 5% return now instead of the 18% I was, but I do know someone else had to be paying for it no matter what the spin. Enjoy it.
- Posted 31/10/07 at 6:31 AM EDT | Alert an Editor | Link to Comment
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pants 7 from Japan writes: Is the picture with the 'STOP' sign behind it some kind of editorial comment?
- Posted 31/10/07 at 6:31 AM EDT | Alert an Editor | Link to Comment
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wayne ouellette from Canada writes: Interesting that the G&M would find something trashy to say about another great prime minister, just as our current great prime minister is releasing another great news story on taxes and leadership. It would be most interesting to see the reaction of G&M staff writers/reporters, to similar statements being made about them. You better have your facts right. Remember what happened mr. creten.
- Posted 31/10/07 at 6:40 AM EDT | Alert an Editor | Link to Comment
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Jason Roy from Nova Scotia, Canada writes: janfromthe bruce from Canada writes:
'When Canadians are asked, over and over again, what they want Ottawa to do with surpluses and direction of govt funds, the majority say to take care of health, education, and poor kids. As usual, there is nothing here for these files, and poor kids and the families they live in are again, neglected.
But if you are all about military war buildup, well that program is swelling.'
Janfromthebruce, the economic update is normally just that - an update and does not address the issues you speak off.
These are addressed in the federal budget.- Posted 31/10/07 at 6:40 AM EDT | Alert an Editor | Link to Comment
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Walter Neff from Ottawa, Canada writes: I would like to see a clear policy statement, right now, as to what the New Conservatives will do if/when we find ourselves running a deficit again. Will they restore some or all of these taxes? Will they cut programs? Sell off crown assets? Let's be clear - right now - what the policy is.
- Posted 31/10/07 at 6:42 AM EDT | Alert an Editor | Link to Comment
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Crusty Curmudgeon from Ottawa, Canada writes:
Well, I want my money back.
I wish that you do-gooders -- who claim to represent the 'average Canadian' would just give over your money to the feds, and leave mine alone.
That way you can personally fund a nameless, faceless bureacracy that wastes tax dollars.
I've worked as a consultant in the federal government -- and true -- everyone is TRYING to do a good job, but they are stifled by a pile of managers whose primary occupation is managing their own career. They don't care about the public good -- all they care about is the perception that they are spending money wisely.
So to all of you 'average Canadians' who seem to think that increased taxes equals better service -- I suggest that you mail in all of your spare change to the feds when you fill in your tax forms -- that will make you feel better.
As for me -- I want my taxes back.- Posted 31/10/07 at 6:42 AM EDT | Alert an Editor | Link to Comment
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Waiting and Seeing from GTA, Canada writes: bill stenner from Canada writes: '...Really nice of the party that created the GST in the first place to reduce it. Except for another flawed aspect. It was created to reduce the federal debt in the first place.'
Bill, the GST was introduced to replace the 13.5% Manufacturing Sales Tax (aka FST). The reasoning was that as the economy shifted away from manufacturing and more towards services, a smaller VAT would be fairer and spread around more evenly. The FST was also a silent killer of manufacturing jobs, and the average taxpayer (including you apparently) didn't see it or even know it existed. It would be nice to have no GST at all (and the Libs fought hard against it making their current position laughable), so I find it hard to see what the problem is in reducing it at a time when we can more than afford to.- Posted 31/10/07 at 6:44 AM EDT | Alert an Editor | Link to Comment
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D W from Halifax, Canada writes: Nary a complaint from me; this is all good news. Of course the cuts should be on the personal and corporate income taxes and not the consumption tax, but a promise is a promise (the whole reason the Income Trust fiasco was so disappointing) and people voted, in part, based on that promise.
Jack Layton is the consummate politician...and a bigger blowhard I can't imagine.
Jan from the bruce 'and poor kids and the families they live in are again, neglected.' Please make an attempt at a rational argument. How can you make the above claim when the basic personal exemption has been increased, the lowest income tax rate has been decreased and the national consumption tax has been decreased? All 3 of these taxes are proportionately much more beneficial to the 'poor' than anyone else. Put a little thought into your posts.- Posted 31/10/07 at 6:49 AM EDT | Alert an Editor | Link to Comment
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Fandango Fandango from Canada writes: Remember this...Paul Martin's last budget offered tax cuts which Harper canceled immediately after getting elected. The high surplus is there because we have been Over Taxed by Harper. All we are getting now is what Harper has been overtaxing us since he was elected. People are too quick to forget...Harper raised taxes when he got in so he can lower them now and look like a hero...Don't be fooled by his ticks. He's just giving us back what he took away when he was elected.
- Posted 31/10/07 at 6:49 AM EDT | Alert an Editor | Link to Comment
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Jack Robertson from Toronto, Canada writes: If Flaherty and company are looking for a way to cut costs and reduce taxes at the same time, they could close up Stornoway, at least temporarily, and do away with all the obviously unnecessary perks enjoyed by the 'leader' of the Official Opposition. As it is quite clear that Stephane Dion does not 'lead' and neither he nor his party 'opposes' much if any of the government agenda these days, additional tens of millions of our tax dollars could be saved by having all Liberal members of the House of Commons vacate their seats and find something more productive to do with their time. Perhaps Mr. Dion could stay on as the token representative of his party and be issued a ceremonial rubber stamp.
- Posted 31/10/07 at 6:52 AM EDT | Alert an Editor | Link to Comment
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Waiting and Seeing from GTA, Canada writes: Stude Ham from Outremont, Canada writes: 'tax cuts and flakey do not give comfort to anyone who experienced this combination in the ontario harris days. these horse gifts from the flake were then followed by some of the most cruel tax burden shifts, and government service cuts which eventually unravelled tragically in Walkerton.'
Stude, how would you rank Mike Harris's tax shifts against Chretien's and Martin's cuts to provincial transfer payments in the mid 90's? These had a significant impact on availability of health care services among other things. I've done some Googling lately to try to put some numbers behind my comments. The numbers are hard to find, but the word that does appear often to describe Martin's cuts is 'Massive'. Without those cuts we probably wouldn't have balanced federal budgets. But the provinces wouldn't have had to cut back on services. Care to comment on that?- Posted 31/10/07 at 6:53 AM EDT | Alert an Editor | Link to Comment
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F/A josquin from van, Canada writes: Well and good, we all love tax cuts, and all political parties dole them out when needed. We coo and roll over and smile. Yup, we all love tax cuts.
Still ,doesn't make up for regressive social policy, and agressive military policy, just makes the stink a little rosier for a short while.
So we get a few hundred more dollars (that shouldn't have been taken from us in the first place) in our pockets.
All is well in this 'great' land of ours. We are such greedy sh--- Posted 31/10/07 at 6:55 AM EDT | Alert an Editor | Link to Comment
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Dan Druff from Canada writes: There had been discussion of allowing THI (Total Household Income) to be taxed vs individual income. Or some hybrid alowing a transfer of income to your spouse.
This is good if one of you makes a lot and one of you doesent.
What happned with this?- Posted 31/10/07 at 6:57 AM EDT | Alert an Editor | Link to Comment
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F/A josquin from van, Canada writes: Fandango your comment is worth repeating-----you hit the nail well.
'Remember this...Paul Martin's last budget offered tax cuts which Harper canceled immediately after getting elected. The high surplus is there because we have been Over Taxed by Harper. All we are getting now is what Harper has been overtaxing us since he was elected. People are too quick to forget...Harper raised taxes when he got in so he can lower them now and look like a hero...Don't be fooled by his ticks. He's just giving us back what he took away when he was elected. '- Posted 31/10/07 at 6:57 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
janfromthe bruce from Canada : Your points are well taking and Jason Roy is correct. Also remember under this govt. the fiscal imbalance was addressed with record federal $$ tranfers to the Provinces this year. You may wish to Google 'O'Brien report.' As for your points again, these specifics will be addressed in the spring budget.
Something that appears to have been lost in yesterday's announcement was Flaherty's statement concerning federal program spending (not sure if he also included Crown Corps) which costs $28 BILLION per year.
As Crusty Curmudgeon from Ottawa states, perhaps this is the start of slashing a bloated federal bureaucracy..........as they will be studying just about every expenditure for justification purposes.
.- Posted 31/10/07 at 7:00 AM EDT | Alert an Editor | Link to Comment
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F/A josquin from van, Canada writes: And again, in case the ones who need to read this didn't get your message Fandango.
''Remember this...Paul Martin's last budget offered tax cuts which Harper canceled immediately after getting elected. The high surplus is there because we have been Over Taxed by Harper. All we are getting now is what Harper has been overtaxing us since he was elected. People are too quick to forget...Harper raised taxes when he got in so he can lower them now and look like a hero...Don't be fooled by his tricks. He's just giving us back what he took away when he was elected. '- Posted 31/10/07 at 7:01 AM EDT | Alert an Editor | Link to Comment
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Raymond Johnston from Toronto, Canada writes: Stude Ham from Outremont, Canada writes: if the flakey announcements were in fact so sky high good, why were they not announced in front of a convened parliament, as these properly should have been? ---------Stude, this from the N.P. article from today: Mr. Flaherty had hoped to deliver his statement in the House, but the NDP spoiled his plan, refusing to give unanimous parliamentary support on Monday to alter the agenda to fit in the statement with a day's notice. As to your other points, if this is such a bad deal, why are the liberals going to support it?
- Posted 31/10/07 at 7:05 AM EDT | Alert an Editor | Link to Comment
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Kenneth Yurchuk from Toronto, Canada writes: Flaherty's goal of 'the lowest Corporate tax rate in the Industrialized world' will certainly bring new investment in Canada. Why not when you can get a free ride. Meanwhile the infrastructure to support all this new business continues to deteriorate, with no plan in place to replace or repair it. The gains will be short term and the piper has yet to be paid.
- Posted 31/10/07 at 7:06 AM EDT | Alert an Editor | Link to Comment
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f c from Canada writes: As for those who would say that I am a Lib et al...I am non polittical on these issues. I have never liked Flaherty and don't think he knows what he is doing.
As for these cuts....how about giving the taxes back to those that you took them from via over taxation???? The general tax rate has not been cut as faras I am concerned. A GST cut....big deal.....$13/mo savings ....wow, I am overtaxed far heavier than that!- Posted 31/10/07 at 7:08 AM EDT | Alert an Editor | Link to Comment
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Jason Roy from Nova Scotia, Canada writes: F/A josquin from van, Canada writes: 'Fandango your comment is worth repeating-----you hit the nail well.
'Remember this...Paul Martin's last budget offered tax cuts which Harper canceled immediately after getting elected. The high surplus is there because we have been Over Taxed by Harper. All we are getting now is what Harper has been overtaxing us since he was elected. People are too quick to forget...Harper raised taxes when he got in so he can lower them now and look like a hero...Don't be fooled by his ticks. He's just giving us back what he took away when he was elected. ' '
F/A, this is also worth repeating:
The 'tax cut' you were offered by P Martin (arguably the biggest pre-election bribe in history) was never passed into law as is the requirement in Canada. Therefore the 'tax cut' you received never should have existed in the first place.
The same with the lame 'Harper raised taxes on the poorest of the poor' argument (which like the 'Harper changed the Afghan deployment to combat' will likely disappear after a couple of years). The poorest of the poor don't pay taxes.
But it's a free country and you are entitled to believe what you want to believe.- Posted 31/10/07 at 7:19 AM EDT | Alert an Editor | Link to Comment
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Frank Godfrey from Canada writes: The Liberals had better start showing some ' leadership ' in stalling the Tory juggernaut very, very soon, or they risk losing the support of long time members. Can I be clearer than this.
- Posted 31/10/07 at 7:20 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: The COns re-anounce Liberal tax plans that are almost three years old. WOW !!!
- Posted 31/10/07 at 7:20 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: Re-announcing previouisy announced Liberal policy must have take a lot of thought. The COns are getting smart like the Chinese with lo labor costs. They don't have to pay for policy already devised by others. They just copy it. As for the GST cut the average saving for the vast majority of citizens is peanuts. Less than the price of a tank of gas every coupe of months or so.
- Posted 31/10/07 at 7:25 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes: Vern McPherson from writes: The COns re-anounce Liberal tax plans that are almost three years old. WOW !!!
Mornin VERNIE! Beautiful but chilly AM here. Mist coming off the water...
One difference here VERNIE: COns ACT-Liberals only promise then change their minds!- Posted 31/10/07 at 7:28 AM EDT | Alert an Editor | Link to Comment
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Philip Van Bergen from Hashima, Japan writes: Sounds nice that Canadians are getting the GST cut, but everyone would rather have their ridiculous income taxes cut. The Tories created the GST and now they are fiddling with it, but they've got their priorities
wrong. Regardless, it must be nice to live in a country running a surplus... Japan is in a mess financially and Toyota's sales are in a
tailspin here!- Posted 31/10/07 at 7:29 AM EDT | Alert an Editor | Link to Comment
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Catherine Wilkie from Canada writes: Jason Roy: Minister Flaherty did not serve an economic update, yesterday. Rather it was a hastily called 'mini' budget. One ponders the rationale of the CPC here.
- Posted 31/10/07 at 7:31 AM EDT | Alert an Editor | Link to Comment
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Catherine Wilkie from Canada writes: R. Carriere: You commented: 'For the best of the LPC, Dion should vote this down, force an election, let the cards fall where they may, and allow the LPC to find a new leader and FINALLY and RIGHTFULLY renew itself at last.' The polls, you often comment on, show that Canadians actually have lessened their support for the CPC. So, what political party actually has anything to gain with an election? Federal campaigns are expensive for the taxpayer. And, if Canadians are not wanting an election, who is the winner? Much was said of Canadians desire to have a minority gov't work, rather than any desire for a majority gov't, after the last federal election. Nothing much has changed.
- Posted 31/10/07 at 7:36 AM EDT | Alert an Editor | Link to Comment
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Not the Alliance from In my opinion, the Harper Gov't is Incompetent., Canada writes: The update is good news with the continued exception of the GST cut - which is pure politics - not good fiscal management. Yes, it's fulfilling an election promise - but the promise, like the Trust promise, was made for the wrong reasons. Overall, the GST cut will end up costing about $10 bln - money that could more effectively be 'returned' to the taxpayer via additional income tax cuts. Not a smart or effective use of $10bln of our money.
The other reservation is of course Flaherty, who has a well deserved reputation as a major screw up. Beyond the good news in the update is what he's not talking about. Fiscal imbalance (which R. Carriere thinks has been solved) STILL will need to be addressed on an ongoing basis - it has not been 'solved'. Money for the major urban centers, including the hated Toronto - which has it's own set of fiscal imbalance problems. Patient wait times (a promise, remember?) - how is this going to be addressed and how much will it cost?- Posted 31/10/07 at 7:40 AM EDT | Alert an Editor | Link to Comment
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D W from Halifax, Canada writes: R. Carriere, on an unrelated note, care to ammend your Global Warming theory from last week with respect to your anecdotal evidence?
I live in your neck of the woods and same as every year, it's mild until it turns freezing...welcome to the freezing...same as every year. I'd imagine we'd both take some of that Global Warming right now....at least I would as I hate scraping the ice from my windshield every morning :O- Posted 31/10/07 at 7:41 AM EDT | Alert an Editor | Link to Comment
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D Roberts from Canada writes: Finally!!! A government for the people. Not pandering to gov't union workers and their managers - aka enriching their salaries, perks and taxpayer funded pensions.
Next it's time to take on gov't waste and inefficiencies. My 'educated' estimate is that waste is about 30-40% of all gov't spending, given that are schools are forced to pay $8000 for $2000 carpet ect. They are forced to pay the union monopoly rates through the board. $1000 paint job costs $5000 according to our principal.
Remember gov't revenues are 250% higher today, per taxpayer, inflation adjusted, than the late 1960's when we had universal healthcare, and one that was highly ranked in the world. It's been downhill ever since thanks to gov't monopoly influence.
But imagine we're paying 250% more today! With no benefit to the taxpayer. Maybe the waste is higher than 40%?- Posted 31/10/07 at 7:43 AM EDT | Alert an Editor | Link to Comment
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Fred Draper from Kingston, Canada writes: People forget balance. Let's grant the fact that that the 15% tax rate is the same as what Martin proposed. There's also the additional matter of the now 2% cut in GST (say $11B) and increased transfers to the provinces to address the HEW issues as bemoaned by JanfromtheBruce.
There is nothing wrong with consumption. A gentleman yesterday was saying that he planned on spending $410M next year on a house, car and appliances, and will save $4,100. Good for him, that's REAL money. And thank you for creating and supportingly highly paid jobs in Canada.
Face it, we need a strong domestic 'spending' economy to reduce an overdependence on exports to the US.
Everything Flaherty has done so far makes sense. A big upgrade on Goodell. I applaud this much and unfairly maligned minister.- Posted 31/10/07 at 7:45 AM EDT | Alert an Editor | Link to Comment
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Brian Van Ezel from Ottawa, Canada writes: 60 Billion. We could have had our national debt paid off in 7 years! Thanks Harper for not paying down the debt! When will be be debt free???????
- Posted 31/10/07 at 7:46 AM EDT | Alert an Editor | Link to Comment
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Pete Kauchak, Red Tory from Cascadia, Canada writes: I can't believe the Toronto Star is telling the Liberals to bring down the government over this. I'm seriously thinking of canceling my subscription now...socialist egocentric morons..
- Posted 31/10/07 at 7:51 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: R. Carriere from Maritimes, Canada writes: Vern McPherson from writes: The COns re-anounce Liberal tax plans that are almost three years old. WOW !!! Mornin VERNIE! Beautiful but chilly AM here. Mist coming off the water... One difference here VERNIE: COns ACT-Liberals only promise then change their minds! ------------------------------------------------------- morning carrierre. Not this time friend. These business tax reductions were already announced before the '06 election. The income tax cut was in place but recinded by the COns --- as everyone already knows.
- Posted 31/10/07 at 7:53 AM EDT | Alert an Editor | Link to Comment
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Jason Roy from Nova Scotia, Canada writes: Brian Van Ezel from Ottawa, Canada writes:
'60 Billion. We could have had our national debt paid off in 7 years! Thanks Harper for not paying down the debt! When will be be debt free???????'
What did you do - sleep through the 27B paid in the last two years on the debt as well as the 10B that will be paid next year - all on top of 68B paid by the previous governments?
Wake up.- Posted 31/10/07 at 7:59 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: Pete Kauchak, Red Tory from Cascadia, Canada writes: I can't believe the Toronto Star is telling the Liberals to bring down the government over this. I'm seriously thinking of canceling my subscription now...socialist egocentric morons.. --------------------------------------------------- Pete what in the world would a mind like yours get outta a paper like the Star ?
- Posted 31/10/07 at 7:59 AM EDT | Alert an Editor | Link to Comment
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Kenneth Yurchuk from Toronto, Canada writes: Pete Kauchak, Red Tory from Cascadia, Canada writes: I can't believe the Toronto Star is telling the Liberals to bring down the government over this. I'm seriously thinking of canceling my subscription now...socialist egocentric morons..
The Star loves to criticize the Liberals between elections. As soon as one is called they put on their mini-skirts, haul out the red and white pom-poms ans lead the grit cheering section. The Star editorial board represents the greatest group of hypocrites in Canada's media.
If they were honest in their opinions, they'd be stumping for Jack and the NDP. I don't know if they think they're still fooling anyone.
They are perfectly safe in calling for the Libs to vote this down. We are now faced with one of the largest majority governments in Canadian History led by Stephen and Stephane, co-leaders of the Libservative Party of Canada- Posted 31/10/07 at 8:01 AM EDT | Alert an Editor | Link to Comment
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Pete Kauchak, Red Tory from Cascadia, Canada writes: Vern McPherson from writes:Pete what in the world would a mind like yours get outta a paper like the Star ?
It's not for me it's for my parakeet.- Posted 31/10/07 at 8:01 AM EDT | Alert an Editor | Link to Comment
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Guillaume Affleck from Canada writes: Brian Van Ezel '60 Billion. We could have had our national debt paid off in 7 years! '
Not. Read the story, not just the headline. It's not $60Bill over one year. Next!- Posted 31/10/07 at 8:02 AM EDT | Alert an Editor | Link to Comment
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Gerry Pankhurst from westport ontario, Canada writes: Jack the Nipper held one his more idiotic socialist photo ops when he said industry doesn't need more mony. Who the hell does he think makes work and employs the majority of Canadians? Given his socialist, bordering on communist, idealism he would jave the government simply shovel out the money directly to the people to discourage the increased industrial productivity we need.
Has anybody noticed? Since this truly good news announcement there have been at least two commentators, that I have heard, speculating there will be no election until the one legislated for 2009. They are absolutely correct.- Posted 31/10/07 at 8:02 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
Not the Alliance: Morning NTA.
Perhaps an unintentional and wrong and misleading choice of words by me yesterday. Instead of 'solved,' it should have been 'thoroughly addressed.' Of course every Province wants more and should receive more instead of huge federal surplusses.
The other issues you bring to the table for the most part are under provincial jurisdiction and would probably be addressed in the full spring budget. I understand how sometimes the understanding of Provincial jurisdictions have been muddied because of unconstitutional federal power grabs over the last 40 years-but health care is Provincial.
As also expressed, the GST tax points should have been transferred to the Provinces allowing them to collect these revenues and address their responsibilities and needs of the individual province.
The social program needs of NB or NS most probably are different than ONT or BC. Let the Provinces decide according to their Constitutional powers.- Posted 31/10/07 at 8:03 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: Carrierre any news as to the documentation on the Accord 'agreement' ? Is there one and what does it say ? By the way a family with a 25 grand taxable income now has to spend all their income on GST'able items to get any benefit out of the cuts. The higher end folk will pocket several grand on a new house, a Beemer or a Jag. Fair ? What'z in this for the little guy ? NOTHING !!!
- Posted 31/10/07 at 8:03 AM EDT | Alert an Editor | Link to Comment
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Jason Roy from Nova Scotia, Canada writes: Catherine Wilkie from Canada writes:
'Jason Roy: Minister Flaherty did not serve an economic update, yesterday. Rather it was a hastily called 'mini' budget. One ponders the rationale of the CPC here.'
You are right in a way Catherine. There certainly was a mini-budget included in the update yesterday which is not the norm. I believe (correct me if I'm wrong) that Ralph Goodale's update which included the 30B in cuts was the first of its kind.
The big difference here though is that we already knew the Martin government was going to be brought down by a non-confidence vote in the HOC, so as I said before one could argue that the 30B (which again was never passed into law) was a pre-election goody.
Now I know we could be in an election at anytime here as well, but right now we don't have the firsthand knowledge that the government will fall.
But a a poster said yesterday, all of the anti-Harper hacks who for so long have been complaining of no tax relief by this government will now do a complete reversal and complain because they got it.- Posted 31/10/07 at 8:05 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: I should point out Nova Scotia doesn't really need documentation on the new side deal with the feds over the violated Accorda. I mean harper's word is good ............. isn't it ?
- Posted 31/10/07 at 8:05 AM EDT | Alert an Editor | Link to Comment
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Canadian With Stones from Toronto, Canada writes:
Once upon a time someone said give a man a fish an he'll eat for a day, but teach a man to fish and he'll eat for a lifetime. The Liberals with their social policies represent the first part of the proverb while the conservatives represent the latter part. And Liberalism has gotten this country into one hell of a mess-Quebec is an example.- Posted 31/10/07 at 8:06 AM EDT | Alert an Editor | Link to Comment
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Trish Taylor from Canada writes: This is the difference between the Globe and other papers. I picked up my non-G&M paper this morning and the 60B in tax cuts was the main headline. What's the main headline on the G&M? The Mulroney-Schreiber issue that is so yesterday .. and the tax cuts issue is in a list with headings the same size as the tax cut. This is a BIG deal. Whether it's a good deal or a bad deal remains to be seen and I haven't even gotten that far yet. Just noticing the difference in priorities between the two papers.
- Posted 31/10/07 at 8:08 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
D W from Halifax, Got it DW! Roses blooming last week and frost on the winshield this week. Oh well! BTW, keep an eye on Tropical Storm Noel this weekend. Remember last time?
http://www.nhc.noaa.gov/
.- Posted 31/10/07 at 8:09 AM EDT | Alert an Editor | Link to Comment
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Seb D from Ottawa, Canada writes: Michael Powers: So what, you're less than 2 years old???
Because, believe or not, the Liberals did cut income taxes. Before they took power in 1993, the lowest tax bracket was taxed at 17%, and was down to either 15.5% or 15% when they got booted out (depending on who you believe), the middle income tax bracket was at 26%, it's now at 22% (the Conservatives have not touched that - yet), and tax brackets were not indexed on an annual basis, and they are now - since 2001 (when the Liberals were still in power).
Believe whatever spin you want, but those are the facts. Look them up if you don't believe me.
I'm not here to be a Liberal cheerleader, but facts are facts.- Posted 31/10/07 at 8:11 AM EDT | Alert an Editor | Link to Comment
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Kenneth Yurchuk from Toronto, Canada writes: Canadian With Stones from Toronto, Canada writes:
Once upon a time someone said give a man a fish an he'll eat for a day, but teach a man to fish and he'll eat for a lifetime. The Liberals with their social policies represent the first part of the proverb while the conservatives represent the latter part. And Liberalism has gotten this country into one hell of a mess-Quebec is an example.
Right, and then you can charge him a fat fee for a fishing license, let foreigners deplete the fish stocks, and put him on pogey for the rest of his life.- Posted 31/10/07 at 8:11 AM EDT | Alert an Editor | Link to Comment
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Pete Kauchak, Red Tory from Cascadia, Canada writes: Kenneth Yurchuk from Toronto, Canada writes:
It's funny I can't recall The Star calling on the opposition to bring down the Liberal government when they were handing out tax cuts. BTW all this clamoring about poverty was a direct result of the former government's policies nationwide. Quebec dealt with the poverty issue themselves splendidly because they knew it was THEIR responsibility to do so and not the feds. The provinces are responsible for cities and social programs and yet the Star blames the feds. Maybe they should pick up a history book and review who is responsible for what in this country.
Ontarians have no business telling Albertans/British Columbians how to run their social programs and the reverse is also true. If there is a poverty issue in Ontario, it's because the current provincial government is shying away from their responsibilities waiting for the feds to send them more money. They obviously don't want to take on the responsibility to raise taxes themselves. I applaud the feds for giving back everyone's hard earned cash. Now the cities and provinces will be forced to convince the electorate and PROVE why taxes have to be raised to pay for new initiatives and take the political heat for doing so.- Posted 31/10/07 at 8:12 AM EDT | Alert an Editor | Link to Comment
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Canadian With Stones from Toronto, Canada writes:
The Toronto Star is the most left leaning paper in all of North America and provides free support for the Liberal party. It should be yanked from the classrooms of the Country unless schools counterbalance it's propaganda with a copy of the National Post. If our kids are going t be lefties at least give them an opportunity to choose between two different positions.- Posted 31/10/07 at 8:13 AM EDT | Alert an Editor | Link to Comment
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Pete Kauchak, Red Tory from Cascadia, Canada writes: Kenneth Yurchuk from Toronto, Canada ,
Sorry Ken, I should of removed the writes in my last post. The commentary there is my own in response to the post you posted for me.- Posted 31/10/07 at 8:15 AM EDT | Alert an Editor | Link to Comment
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Catherine Wilkie from Canada writes: Jason Roy: I haven't ever posted complaining about paying for services, Jason. It is important to me that the nation's infrastructure is maintained and the nation shows the same intent on helping its weak as it shows on helping corporations. As a liberal, I believe this gov't has the balance out of whack.
The hastily called budget is worth mentioning. Always the strategists, maybe that is why the CPC is having trouble finding traction with the electorate. PM Harper has shown that he doesn't believe in collaboration with his elected officials or the opposition. Rather he increases the staffing to his PMO and governs in an autocratic manner.
This CPC gov't is showing their vision of Canada. Good for Canadians to visualize, versus what the CPC said in the last election campaign. For a while....- Posted 31/10/07 at 8:16 AM EDT | Alert an Editor | Link to Comment
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Bryan . from Canada writes: Some good tax policy (corporate taxes), some political fodder (gst cut) and something to look forward to (harmonization of PST, capital gains reform) all in all not a bad update (aka 'prodding' the liberals while they are down)
- Posted 31/10/07 at 8:16 AM EDT | Alert an Editor | Link to Comment
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Alpha Sigma from Canada writes: W. Mayne from Canada writes: ...We must remember that Flaherty is not an economist, he is a lawyer and a politician! His primary concern is the next election, not the future of Canada.
The same can be said of the Liberals. If the gut in GST makes such little sense then why don't they go ahead and vote against it? Bring the govt down? They won't because their 'primary concern is the next election, not the future of Canada'.- Posted 31/10/07 at 8:18 AM EDT | Alert an Editor | Link to Comment
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R A from Canada writes: I cancelled the Star many years aao for their biased reporting. I have no problem with a paper that prints an editorial based on what they believe but when they start skewing the stories to fit their political agenda it is time they need to stop claiming to be a NEWSpaper.
- Posted 31/10/07 at 8:20 AM EDT | Alert an Editor | Link to Comment
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Roland Neissinger from Latteville, Canada writes: Whoa, I believe it when I see it!
Otherwise right direction to move.
So far Harper is my man.......- Posted 31/10/07 at 8:21 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
Vern McPherson from writes: any news as to the documentation on the Accord 'agreement'
VERNIE-trying to get info is like....let's put it this way, there is no paperwork done-UNBELIEVABLE!! With all due respect for musicians and gym teachers, I think McDonald is way over his head on this one.Last I heard is that this supposed deal would have to pass Parliament. When? No one knows.
Bill Casey is a good man-we haven't heard the end from him. I guess that's what happens when one backs Belinda Stronach................
.- Posted 31/10/07 at 8:21 AM EDT | Alert an Editor | Link to Comment
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Guillaume Affleck from Canada writes: Trish, you're so right, it's downright weird when a historic day, a historic news story like this comes along and the globe can only run a Mulroney story as the lead.
National circulation under 300K and declining.
We all know why.
Soon it won't be found in those last 300,000 waiting rooms and reception areas.
Canada doesn't need 2 Toronto Stars.- Posted 31/10/07 at 8:22 AM EDT | Alert an Editor | Link to Comment
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Hendrick Larose from Calgary, Canada writes: I don't understand the negative posts knocking the GST reductions. The Conservatives had as part of their election platform that they would reduce the GST to 5%. They were elected to govern on that platform. They kept that promise doing the will of the electorate. Democracy worked and people are complaining about it. Sure there may be economists who disagree but the economists are not the majority of the taxpayers.
- Posted 31/10/07 at 8:22 AM EDT | Alert an Editor | Link to Comment
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D R from Canada writes: Hope everybody enjoys their extra $13/month at the expense of our national infrastructure and clearing our national debt. That's the Tories for you: buying votes from Canadians with their own money.
- Posted 31/10/07 at 8:25 AM EDT | Alert an Editor | Link to Comment
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Guillaume Affleck from Canada writes: Seb D 'Because, believe or not, the Liberals did cut income taxes.'
While simultaneously massively increasing other taxes such as the 'CPP' so that your take home pay was exactly the same. They are unrepentant liars and thieves.- Posted 31/10/07 at 8:25 AM EDT | Alert an Editor | Link to Comment
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R A from Canada writes: What about the EI overpayments...nobody talks about this anymore.
- Posted 31/10/07 at 8:28 AM EDT | Alert an Editor | Link to Comment
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R. Carriere from Maritimes, Canada writes:
Toronto Star editorial titled:
' Liberals should defeat Mini-budget'
http://www.thestar.com/comment/article/272037
Chantal Hebert Column: 'PM again sticks it to Liberals'
http://www.thestar.com/comment/article/272122
.- Posted 31/10/07 at 8:28 AM EDT | Alert an Editor | Link to Comment
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D R from Canada writes: Guillaume Affleck from Canada writes: Trish, you're so right, it's downright weird when a historic day, a historic news story like this comes along and the globe can only run a Mulroney story as the lead.
-------------------------------------------
I'm sure that priority would have been acceptable in your eyes had the perp been from a different party.
Kudos to the Globe for not allowing the party that defined the art of corruption to hide behind their little bribe.- Posted 31/10/07 at 8:28 AM EDT | Alert an Editor | Link to Comment
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Guillaume Affleck from Canada writes: wilkie fraser:
'This CPC gov't is showing their vision of Canada. Good for Canadians to visualize, versus what the CPC said in the last election campaign'
Only to a liberal is keeping promises made in an election a 'problem'.
Nice party you've got there. How are Volpe and Gagliano?- Posted 31/10/07 at 8:29 AM EDT | Alert an Editor | Link to Comment
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Bryan . from Canada writes: R A from Canada writes: What about the EI overpayments...nobody talks about this anymore.
There was discussion about this. I am not positive if it was just a comment on ROBTV (BNN), or one of the libs/conservatives policy planks. Either way the collection/payment system needs to be reformed so that they are matched. This will help both individuals and businesses- Posted 31/10/07 at 8:30 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: Pete Kauchak, Red Tory from Cascadia, Canada writes: Vern McPherson from writes:Pete what in the world would a mind like yours get outta a paper like the Star ? It's not for me it's for my parakeet. --------------------------------------------------- Too late Pete. You already admitted reading it. Didn't you ? I recommens the TO Sun. It's cheaper and the birdz don't seem to object to the mindsuck the Sun is famous for.
- Posted 31/10/07 at 8:31 AM EDT | Alert an Editor | Link to Comment
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Catherine Wilkie from Canada writes: The CPC is keeping promises? Pretty bold statement on this Hallowe'en Day. Trick or treat? Remember the income trust flip-flop that Flaherty/Harper delivered last year?
- Posted 31/10/07 at 8:33 AM EDT | Alert an Editor | Link to Comment
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Pete Kauchak, Red Tory from Cascadia, Canada writes: ern McPherson from writes:
Too late Pete. You already admitted reading it. Didn't you ? I recommens the TO Sun. It's cheaper and the birdz don't seem to object to the mindsuck the Sun is famous for.
Thanks for the tip. I'll switch to the Sun. But there will be no poopooing on the Sunshine girl.- Posted 31/10/07 at 8:33 AM EDT | Alert an Editor | Link to Comment
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Mark Thomas from Toronto, Canada writes: For all these people saying that 'I don't mind paying a bit more' to fund health care or cities. It doesn't work that way. Look at Toronto, we'll pay way more thanks to the corrupt NDP council and hypocritical mayor Miller, and services will not improve one bit. The only result will be all firefighters and litter pickers earning $100k/yr, which does squat for Toronto. Fact is it's better if we keep our money, rather than losers like Miller spending it on union wage increases and grants.
This is a welcome sign, and I'm going to enjoy my $500 in tax relief this year as it will help offset the huge tax increases Miller has in store for us next year. May even make a purchase of some furniture and a new car. This is a good thing and will make Canada more competitive. I'd rather spend my money on my family than let some NDP losers waste it on their union cronies any day.- Posted 31/10/07 at 8:35 AM EDT | Alert an Editor | Link to Comment
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Guillaume Affleck from Canada writes: DR you are mistaken:
'not allowing the party that defined the art of corruption to hide behind their little bribe. '
Except for choosing to run this story today, upi are wrong, it doesn't involve the liberals, who funded election campaigns with brown envelope stolen cash - still not paid back, still not IDed, still no remorse.
Libs didn't just invent it, they 'perfected' it. And still got caught. Kudos to the globe for staying on it then. Now please get back to following up on it. Guite appealed his conviction and his sentence yesterday. That's a news story. Oh yeah and Harper putting Manley's Northern Tiger plan into action, that's news too. The liberals best hope has seen his ideas put into action!!- Posted 31/10/07 at 8:36 AM EDT | Alert an Editor | Link to Comment
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Vern McPherson from writes: Pete Kauchak, Red Tory from Cascadia, Canada writes: Kenneth Yurchuk from Toronto, Canada writes: It's funny I can't recall The Star calling on the opposition to bring down the Liberal government when they were handing out tax cuts. BTW all this clamoring about poverty was a direct result of the former government's policies nationwide. Quebec dealt with the poverty issue themselves splendidly because they knew it was THEIR responsibility to do so and not the feds. The provinces are responsible for cities and social programs and yet the Star blames the feds. Maybe they should pick up a history book and review who is responsible for what in this country. Ontarians have no business telling Albertans/British Columbians how to run their social programs and the reverse is also true. If there is a poverty issue in Ontario, it's because the current provincial government is shying away from their responsibilities waiting for the feds to send them more money. They obviously don't want to take on the responsibility to raise taxes themselves. I applaud the feds for giving back everyone's hard earned cash. Now the cities and provinces will be forced to convince the electorate and PROVE why taxes have to be raised to pay for new initiatives and take the political heat for doing so. ----------------------------------------- Pete that constitutional CRAP is just so much COns bunk..................
- Posted 31/10/07 at 8:36 AM EDT | Alert an Editor | Link to Comment
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Catherine Wilkie from Canada writes: As a taxpayer, I would like a voice on something that Harper is coveting. Matters of defence and foreign affairs. For example, weapons and soldiers and diplomatic missions.
- Posted 31/10/07 at 8:39 AM EDT | Alert an Editor | Link to Comment
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edward daniliunas from Canada writes: Have I got this right? The federal non-refundable tax credit rate will be 15% on the new basic personal amount of $9600 resulting in a $1440 reduction in tax payable. At the old tax credit rate 15.25% on $8930 it would have been a $1362 tax credit.
An ANNUAL savings of $78!
Add an average monthly GST saving of $13 results in a grand total of $20 per month.
Why do I feel they are always playing with us?- Posted 31/10/07 at 8:40 AM EDT | Alert an Editor | Link to Comment
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