Our future

tabubil
Fledgling
Posts: 135
Joined: Jan 25th, 2019, 11:25 am

Our future

Post by tabubil »

Time to upset everyone again. This am I watched The West Block that had an interview with the Minster of Fiance and heard three main things that have me worried and I think should worry the rest of the tax payers and our city council.
First the Minister would not deny that the deficit at present is 252 Billion and will most likely rise mostly caused by the pandemic.
Second troubling thing is that he would not deny that Canada's debit next year could be in the realm of 3-5 TRILLION dollars.
Third and again very troubling was the fact that he would not deny a large increase in income taxes for both the public and business or any other taxes.
Why should this bother the council and provincial governments, simple they should be making plans on where they are going to get money for all their grandiose plans or what they are going to cut or are we going to be taxed to death. They should also be having public meetings to inform us of these plans and ask for our input.
I am not a financial genius but I do know that if our council and provincial governments do not start making and asking for ideas now I as a senior will most likely have to sell my house, at a discount just so I can survive as I will be taxed to death. I can at present live comfortably because I have planned for something like this, but what could be coming has me very worried as it should have the rest of you.
Can this be fixed I do not know but unless we start now I will say that when the shoe hits the floor it will be way to late and the city will be broke as will the rest of us.
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oldtrucker
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Joined: Nov 24th, 2013, 3:19 pm

Re: Our future

Post by oldtrucker »

I bet I pay more taxes than a rich person that has a accountant with a sharp pencil.
Until the income tax system that is a dogs breakfast of rules and loopholes is made so that the rich pay taxes, poor people like me will be paying for the whole thing :up: :smt045
Some may view my politically incorrect opinions as harsh and may be offended by them. Some think political correctness will be our undoing.
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Bsuds
The Wagon Master
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Joined: Apr 21st, 2005, 10:46 am

Re: Our future

Post by Bsuds »

oldtrucker wrote:I bet I pay more taxes than a rich person that has a accountant with a sharp pencil.
Until the income tax system that is a dogs breakfast of rules and loopholes is made so that the rich pay taxes, poor people like me will be paying for the whole thing :up: :smt045


Exactly! They need to bring in a percentage based income tax where everyone pays the same percentage on all income over a specified amount. So lets say 25,000 is the minimum. Everything over that amount is taxed at a %.

I would venture to guess the low to middle incomes would pay less in the long run.
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