Cut the PST?

my5cents
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Re: Cut the PST?

Post by my5cents »

liisgo wrote:Its kind of funny the response that losing the PST for a year is going to hurt the ones that need assistance and money via those taxes. Not to challenge the fact that what makes you think that the money the government collects is going to the right people in the first place? Besides that, if the tax is so important as many say, then you would all be ok with it maybe being increased by say another 3 % or so to help people even better? Why not?
Every single person will save money on purchases to some extent, how could you argue that?
Maybe there is more than enough taxes and that its the governments faults for not using it properly in the first place.
Maybe businesses would see sales and services increase.
I do not believe for one second that trusting our governments of the day to be able to apply our tax dollars in any meaningful way is realistic.

I don't know if cutting the PST will "hurt the ones that need assistance", I guess perhaps with $6.9 Billion less in the coffers, some social programs will be reduced, but the main thrust of the argument is that it will not help stimulate the economy that much and the ones that will really benefit are the wealthy with lots of money to spend, who don't need the help.

On the other hand, with the extra spending the government has faced, along with the reduction already in taxes collected because of a downturn in the economy, is an increase in the provincial portion of income tax going to happen ?

Simple Example......

I live hand to mouth. About all I can afford is my rent and food. I don't pay PST on either, axing the tax wouldn't reduce my food bill or my rent. The few items that I purchase that are subject to PST is minimal.

You have a great job, you own a home outright, you own a couple of cars. After you purchase your food and other necessities you have thousands of dollars available to buy "stuff". You're always buying new cloths, new toys, (that new jet ski, a trailer for it, lots of new electronics, great stuff). All those purchases are subject to PST. You pay 7% tax on all of it. If you decide to get a new car, you are going for the best and most expensive you will be paying as high as 20% PST on a real nice set of wheels.

Axing the tax for you would be a great saving for you.

Get it ?
Last edited by my5cents on Oct 1st, 2020, 10:06 am, edited 1 time in total.
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fluffy
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Re: Cut the PST?

Post by fluffy »

It’s a very bad time to be tossing away revenue that amounts to billions annually.
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my5cents
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Re: Cut the PST?

Post by my5cents »

fluffy wrote:It’s a very bad time to be tossing away revenue that amounts to billions annually.


It's a unique time, isn't it. A political party is saying, "if elected, we'll reduce a tax", yes in this case only a sales tax, and only for a limited time, but many people are saying (and IMO wisely) "no".
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cyruslosco66
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Re: Cut the PST?

Post by cyruslosco66 »

A closer look at BCLibs tax break plan and why it may contain a big miscalculation .


https://pressprogress.ca/its-a-huge-err ... mists-say/
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zoo
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Re: Cut the PST?

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Simple Example......

I live hand to mouth. About all I can afford is my rent and food. I don't pay PST on either, axing the tax wouldn't reduce my food bill or my rent. The few items that I purchase that are subject to PST is minimal.

Axing the tax for you would be a great saving for you.

Get it ?


I have been, during college in the above situation and there are still a lot of things and services you DO pay PST on that are not minimal for a lot of us. Every little bit would have helped. To say that removal of the PST would not really assist the people in the most need is nonsense. I purposely did not purchase many things I needed just to wait for a sale to save a few bucks.
Yes, it all add's up and being in that position any savings would have helped.
As it goes for the argument that it does not stimulate the economy has no merit. Many times measure's similar have been enacted and did have a proven relation with the economy. By how much, is a fair topic for sure.
PST is paid on product and service at many level's. Far too many levels.
I agree that increasing debt is obviously wrong. And the governments of the day need to be over hauled completed as it is unacceptable. The argument against cutting the PST should not be, "that it will not help the most needed or the poorest" holds zero merit.
Would cutting the PST assist everyone in savings, of course.
Would it stimulate the economy, absolutely, to what point?
It this offering for vote's, Yep.
Would it add debt, Yep.
Do the governments of today need to change their spending habits for the future generations well being, absolutely should be the demand of us all.
my5cents
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Re: Cut the PST?

Post by my5cents »

Now a new item that "half the price of a pint is tax"

https://www.castanet.net/news/Business/ ... eer#312185

The article goes on to say that roughly 47% of the price of beer in Canada is tax, which is nearly five times higher than the United States.

Now there's a tax reduction I could support !
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butcher99
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Re: Cut the PST?

Post by butcher99 »

So we cut the PST this year, take what, 5 or 6 billion out of the revenue stream then next year we go to 10% for 3 years to get that back? Pandering for votes. Just desperation on the Liberals part.
rustled
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Re: Cut the PST?

Post by rustled »

I'd like to have seen their rationale and number crunching prior to the announcement. Announcing it first was inept. As my DH put it, if we really want this sort of ineptitude we'll vote NDP.
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Hurtlander
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Re: Cut the PST?

Post by Hurtlander »

I’d love to go a year without paying PST, and another year at 3% PST, I’ll be the first to admit that I’d be spending some serious coin... But first I’d like to know the long term plan to recover the lost tax revenue, pay down the debt, and balance the budget. If short term gain is going to be offset by serious long term pain, it’s just not worth it... Obviously there’s going to be the need to make drastic and uncomfortable cuts or freezes to all the ministries and services budgets at some point in the not to distant future to balance the budget, why make things more painful than absolutely necessary.
I wouldn’t be surprised if non-PST jurisdictions like Alberta and Yukon Territory actually implement a PST to help dig their way out of this fiscal nightmare.
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my5cents
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Re: Cut the PST?

Post by my5cents »

As I've said I'm against being "bought" with my own money. Or, I guess in this case given my own money that I'll have to pay back in the future with higher taxes.

However, if the PST was axed for a year, I, along with many others would be strongly considering that that would be the year to buy a new vehicle, other such big ticket item.

I am insulted when I hear, something from a Green candidate, or a Libertarian candidate what their party would do if they formed government.

I know all parties and also independents have the right to run in all ridings, but, for example, in a strong Liberal or strong NDP riding it's pretty far fetched when a candidate without a hope of even coming in third talks about "if our party forms government we'll....."
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rustled
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Re: Cut the PST?

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my5cents wrote:As I've said I'm against being "bought" with my own money. Or, I guess in this case given my own money that I'll have to pay back in the future with higher taxes.

However, if the PST was axed for a year, I, along with many others would be strongly considering that that would be the year to buy a new vehicle, other such big ticket item.

I am insulted when I hear, something from a Green candidate, or a Libertarian candidate what their party would do if they formed government.

I know all parties and also independents have the right to run in all ridings, but, for example, in a strong Liberal or strong NDP riding it's pretty far fetched when a candidate without a hope of even coming in third talks about "if our party forms government we'll....."

While I'm a strong proponent of "No one can make us feel insulted without our consent", I get where you're coming from: they're certainly attempting to insult the intelligence of the electorate, and that's never a particularly effective strategy.
Ideology...gives evil-doing its long-sought justification and gives the evildoer the necessary steadfastness and determination...[it] is the social theory which helps to make his actions seem good instead of bad in his own and others' eyes...
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Symbonite
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Re: Cut the PST?

Post by Symbonite »

I guess if the Liberals do get elected and do cut the PST out....everyone here please put your big purchases off until the PST returns. Nothing says hypocrite more than people saying but to take advantage of it for something they don't believe it should have happened in the first place.
**Disclaimer: The above statement is in my OPINION only.
my5cents
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Re: Cut the PST?

Post by my5cents »

Symbonite wrote:I guess if the Liberals do get elected and do cut the PST out....everyone here please put your big purchases off until the PST returns. Nothing says hypocrite more than people saying but to take advantage of it for something they don't believe it should have happened in the first place.

So.... those that don't agree with axing the PST,,, should ? Stop making any purchases that were subject to the PST for 2 years  ?
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Symbonite
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Re: Cut the PST?

Post by Symbonite »

well the second year is a cut not elimination. but yes...you can still buy...but make sure you donate that 7% and 4% second year into the food bank or such maybe even into a "right to play" Kids for sports fund...make sure you dont keep it as it is against your views..but it will help the needed.
**Disclaimer: The above statement is in my OPINION only.
my5cents
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Re: Cut the PST?

Post by my5cents »

:up:
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