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afransen TO
Guest
I'm disgusted. It's bad economic policy, and bad social policy.
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M
Mislav
Guest
That's true - if something is listed as $100 it means you pay $115 for it but under Harper's policy you would pay $113 which is only a $2 saving. The saving only becomes significant when you're purchasing something in 6-7 figures (ie. for a $1 million home it would equal $20,000 in savings). However cutting the GST on a macro scale is bound to create additional jobs.Reduced GST on the Mercedes, the new million dollar home, the installation of the custom wine cellar.
A
afransen TO
Guest
That's true, but there are good taxes and bad taxes, and GST is better than most. It would make much better economic sense to cut other taxes first. Ultimately, it made political sense for the Conservatives to choose this tax. It's a very visible tax, unlike, say, excise taxes on fuel.
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bizorky
Guest
However cutting the GST on a macro scale is bound to create additional jobs.
Others have suggested that it is inflationary.
E
EnviroTO
Guest
However cutting the GST on a macro scale is bound to create additional jobs.
Not likely. Retailers will probably be able to handle the extra sales with their existing staff, the manufacturing is done increasingly offshore, and the management will reap the benefits. New jobs come by luring new jobs here and that involves lowering the cost that companies pay by locating more jobs here (i.e. lower payroll taxes, lower corporate taxes, well trained citizens, public healthcare, etc.). GST isn't even paid by corporations so even they don't see the benefit... only the big consumers and the people who profit from the consumption.
S
scarberiankhatru
Guest
"However cutting the GST on a macro scale is bound to create additional jobs."
Not if the guy buying the million dollar home takes his $20,000 and puts it in a Cayman Islands bank account. It's nice to think the rich will use the saved money to buy cars made in Canada or something else that will create jobs but...yeah right. The middle class will give their saved $2000 straight back to VISA, while the poor will take their $200 and go to Swiss Chalet a couple of times, or maybe buy some of those Heart & Stroke lottery tickets.
Not if the guy buying the million dollar home takes his $20,000 and puts it in a Cayman Islands bank account. It's nice to think the rich will use the saved money to buy cars made in Canada or something else that will create jobs but...yeah right. The middle class will give their saved $2000 straight back to VISA, while the poor will take their $200 and go to Swiss Chalet a couple of times, or maybe buy some of those Heart & Stroke lottery tickets.
A
Antiloop33rpm
Guest
while the poor will take their $200 and go to Swiss Chalet a couple of times, or maybe buy some of those Heart & Stroke lottery tickets.
What a stupid comment. Aside from the fact that I have yet to know a single poor person who as ever bought a Heart and Stroke type lottery ticket (anyone I have ever known to buy one has been in the middle class ranks), all that comment does is reinforce stereotypes about poor people that are largely untrue. Most poor people, who are not as many seem to think, simpley content with their situation and wasting their money on 'beer and popcorn' but are trying to do what they can to rise beyond their socio-economic status. A more likely use for the money will be to buy a few extra groceries, maybe some extra school supplies or clothes for their kids, maybe even try to start up an education fund for their children if the savings to them actually proved to be substantial enough.
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scarberiankhatru
Guest
"I have yet to know a single poor person who as ever bought a Heart and Stroke type lottery ticket"
Well, then you don't know enough poor people. Smart poor people buy the expensive lottery tickets.
"all that comment does is reinforce stereotypes about poor people that are largely untrue."
It's not a stereotype if it's true.
"maybe even try to start up an education fund for their children if the savings to them actually proved to be substantial enough."
Education fund? I've never heard of a family making less than $75,000 that was able to set up RESPs, they're too busy trying to keep the car or get enough vegetables in their diet.
Well, then you don't know enough poor people. Smart poor people buy the expensive lottery tickets.
"all that comment does is reinforce stereotypes about poor people that are largely untrue."
It's not a stereotype if it's true.
"maybe even try to start up an education fund for their children if the savings to them actually proved to be substantial enough."
Education fund? I've never heard of a family making less than $75,000 that was able to set up RESPs, they're too busy trying to keep the car or get enough vegetables in their diet.
B
billy corgan19982
Guest
According to the liberals the poor will spend their GST savings on beer and popcorn.
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scarberiankhatru
Guest
If that's the case, I'll use my GST savings to buy some stock in Molson and maybe some Orville Redenbacher.
J
Jarrek
Guest
Not if the guy buying the million dollar home takes his $20,000 and puts it in a Cayman Islands bank account.
Well, you're actually very wrong.
Because if you buying a "used" home, you don't pay any GST and therefore it's GST exempt.
On new home purchases, any houses costing more than $450,000 don't qualify for a GST rebate.
Between $450k and 350K you can get a maximum of around 9K back.
On anything below $300K, you can claim up to 36% of the GST.
So it's not all sweet and rosy.