It's not a Republican thing, it's a mindset thing. In the USA per capita spending by all levels of government combined have massively increased since the 1950s. This includes massive spending increases by Republican governments at both the State and Federal level. Under GWB's government government spending skyrocketed, especially on Medicare and the military.
Toronto has enough revenue to run a good city. What it has is too much spending. Why does a municipality pay for seniors homes and daycare for goodness sake? Surely that's the responsibility of higher levels of government. The City should give an ultimatum to the province that as of Jan 1st they will no longer be paying for homeless shelters - they should have refused when Harris downloaded it.
Keep to emergency services (with reduced police budget), infrastructure, garbage and sanitation (privatized where possible), libraries and recreation (pools, splash pads, etc), utilities, public transit, permits and by-law enforcement. I don't need my city spending tax dollars on tourism (if the restaurants and hotels want the tourism revenue, let them pay for the promotional ads), parades, and other services.