[Newsbot]

Title: Canadians support budget, accept deficit, poll suggests
Category: Political
Posted By: andyt
Date: 2016-03-25 07:10:54
Canadian

[shockedcanadian]

I wonder if their grandkids feel the same...

[martin14]

Millenial kids can't think, but they will be the ones paying for it.

Hope they enjoy...

[bootlegga]

Not this Canadian - and I voted for them. This budget sucks IMHO.

[BeaverFever]

Where were the deficit hawks when Harper ran up the debt in aevery single year of his administration?

(Note: I Know that the response will be " but but but Harper did balance his final budget!!" While technically correct, this was only achieved by making a withdrawal from reserve funds, which is like withdrawing from your RRSP to pay this month's rent.

[PluggyRug]

BeaverFever BeaverFever:

Where were the deficit hawks when Harper ran up the debt in aevery single year of his administration?

(Note: I Know that the response will be " but but but Harper did balance his final budget!!" While technically correct, this was only achieved by making a withdrawal from reserve funds, which is like withdrawing from your RRSP to pay this month's rent.

Do remember the 5th of November 2008. No gunpowder treason or plot.

[Canadian_Mind]

BeaverFever BeaverFever:

Where were the deficit hawks when Harper ran up the debt in aevery single year of his administration?

(Note: I Know that the response will be " but but but Harper did balance his final budget!!" While technically correct, this was only achieved by making a withdrawal from reserve funds, which is like withdrawing from your RRSP to pay this month's rent.

Right here. Voted Conservative in 2008 and 2011.

The only years I felt running a deficit were necessary was from 2008 to 2011. They were somewhat forced into it, and when they did it they did a poor job allocating money. Anything after that was a structural problem that could have been solved by better management of the budget.

Example of the structural problem that really pissed me off was reducing the GST to 5% and reducing corporate taxes.

For this, and other reasons, I spoiled my ballot this year. Wouldn't vote NDP and voting for Trudopehead felt as disgusting as voting for the Conservatives again. I should have run as an independent.

[OnTheIce]

BeaverFever BeaverFever:

Where were the deficit hawks when Harper ran up the debt in aevery single year of his administration?

(Note: I Know that the response will be " but but but Harper did balance his final budget!!" While technically correct, this was only achieved by making a withdrawal from reserve funds, which is like withdrawing from your RRSP to pay this month's rent.

His first two years, he paid down the debt and got torn apart by you lefties as you wanted to spend the money from the surplus.

This budget works for Canadians because as a whole, we have a ton of household debt and don't really care. Most of us know nothing more than massive government debt with year after year of budget deficits.

[andyt]

OnTheIce OnTheIce:

His first two years, he paid down the debt .

Brilliant way to pay down the debt - give up 14 billion in annual revenues.

$1:

Canada lost when Ottawa cut the GST

http://www.theglobeandmail.com/report-o ... e10271589/

For a sense of scale, reversing the GST rollback would virtually wipe out next year’s projected federal deficit of $18.7-billion.

[Canadian_Mind]

I believed i mentioned the GST. Was it something like 7 billion in federal revenue lost for every percentage point it dropped?

If Trudeau bumped it back up to 7%, I'd actually have something to cheer about.

[OnTheIce]

andyt andyt:

Brilliant way to pay down the debt - give up 14 billion in annual revenues.

The GST cut doesn't negate the fact that the debt was paid down during the first two years of the mandate, much to the dismay of the left.

The suggestion that the money lost due to revenue from the tax didn't return to the system is nonsense.

That money didn't just disappear, it stayed in the pockets of those who earned it and who could spend it on other things.

Further, of all people andy, you'd be in favour of a reduction to a regressive tax on poor people.

In the end, good news! The sitting Liberal government with their majority can increase the tax to the pre-Harper era and the problem is solved, right?

[andyt]

We've been down this road before. The poor people get more back in GST rebates than they can pay in GST. If you're worried about the poor, increase that rebate.

The money didn't disappear, a lot of it got sent to China, rather than being available to pay off the debt, or, if concern for the poor is the main concern, one point on the GST can more than fund the Child benefit. so two points could have pretty well eliminated child poverty. If money doesn't disappear from the government coffers when taxes are reduced, why have taxes at all, since it would be "spent on other things." Other things rather than paying off the debt or reducing poverty, yes.

Absolutely, Trudeau could and should raise the GST. He could have cut the deficit in half and still spend every penny that he budgeted.

[Canadian_Mind]

OnTheIce OnTheIce:

andyt andyt:

Brilliant way to pay down the debt - give up 14 billion in annual revenues.

The GST cut doesn't negate the fact that the debt was paid down during the first two years of the mandate, much to the dismay of the left.

The suggestion that the money lost due to revenue from the tax didn't return to the system is nonsense.

That money didn't just disappear, it stayed in the pockets of those who earned it and who could spend it on other things.

Further, of all people andy, you'd be in favour of a reduction to a regressive tax on poor people.

In the end, good news! The sitting Liberal government with their majority can increase the tax to the pre-Harper era and the problem is solved, right?

It may have not negated that the debt was paid down, but had the Harper government kept the GST the way it was, they would have had an extra $14 billion per year.

Had they not gone and blissfully spent it all, the total debt would be $118 billion lower; or, $498 billion overall instead of $616 billion overall today. Compared to the $492 billion the Conservatives came to power with, a total drop over 10 years of $8 billion instead of $127 billion. Given the recession of 2008, an $8 billion loss is nothing to slouch at. Hell, might have saved that much in interest and come out in fiscally positive territory. A record that all Conservatives could and should have been proud of.

Instead, the Harper term ended up being nothing but colossal fiscal failure.

[OnTheIce]

andyt andyt:

We've been down this road before. The poor people get more back in GST rebates than they can pay in GST. If you're worried about the poor, increase that rebate..

Poor people living paycheque to paycheque can't wait for a rebate months down the road.

andyt andyt:

The money didn't disappear, a lot of it got sent to China.

How so?

andyt andyt:

Absolutely, Trudeau could and should raise the GST. He could have cut the deficit in half and still spend every penny that he budgeted.

Raising the GST would have no impact on the economy?

[OnTheIce]

Canadian_Mind Canadian_Mind:

It may have not negated that the debt was paid down, but had the Harper government kept the GST the way it was, they would have had an extra $14 billion per year.

That's not entirely true.

You cannot assume that everything will be the same, economy wise, with higher taxes. It's far too simplistic to add 2% tax to almost everything and assume all will be status quo.