Jack Mintz: Message to Finance Minister Chrystia Freeland: No need to raise taxes

From a modest six per cent of GDP in Macdonald’s time the consolidated spending of all levels of government rose to 14 per cent in 1930. With the Great Depression and post-Second World War reconstruction, public spending funded new priorities in transportation, education, health and social services. By 1968, as Pierre Trudeau became prime minister, consolidated public spending exceeded 30 per cent of GDP.

Are governments really that starved for funds that they need an even bigger share of the economy’s resources? Those proposing higher taxes argue we need massive new social programs like a guaranteed income and tens of billions more for climate-change subsidies. Other would-be tax-raisers argue that the COVID debt needs to be paid back, evidently not realizing that inflation has boosted public revenues so much that most provinces are running surpluses and could reduce debt without new taxes.

Before jumping on the bandwagon for higher taxes, people need to take a hard look at public spending. When the Liberals took power, federal spending GDP was 14.3 per cent of GDP. It’s now 17 per cent, 2.7 percentage points higher.

fpcomment So cafreeland you won’t be putting the new carbon tax and alcohol tax on, on April 1st then?

fpcomment Reign in the spending on climate change, Bill Gates Gender equality agenda, implement managed and orderly Immigration for starters....

fpcomment When JustinTrudeau cafreeland get 75 cents of every tax dollar, they need to lower taxes;stop the rampant spending,foreign spending,losing billions,giving tax dollars to cronies. They need to fire themselves. liberal_party TrudeauResign fireWeffingFreeland TrudeauForTreason

fpcomment we must raise taxes for our new country Ukraine right freedumb?

fpcomment We had just enough this bs! Canadians should stop paying taxes all together and bankrupt this govt !

fpcomment Everybody should know by now corruption doesn't come cheap

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jack Mintz: Message to Finance Minister Chrystia Freeland: No need to raise taxesCanadians facing stubbornly high inflation need a break from governments that raise taxes to make up for their ineptitude. Read more. Let’s fight inflation with raising taxes…
Source: financialpost - 🏆 7. / 85 Read more »

COVID-19 pandemic cost Quebec $28 billion: finance departmentExpenses are planned until 2025, though much less than during the first year of the pandemic.
Source: ottawasuncom - 🏆 4. / 92 Read more »