WHAT HAPPENED TO THE ECONOMIC BOOM PROMISED FROM THESE GST CUTS?
Let's ask Mr Flaherty
The Ontario economy is slowing down to a miserable pace...so much so that Toyota Canada is now complaining that the costs of building their cars in their government subsidized auto plant in Woodstock(that was financed by tax dollars, tax cuts and tax credits) will exceed what they can get for them on the market....even after we taxpayers financed the crap out of this, they still say they can't make money...so what is the point of them coming to Woodstock? Perhaps Michael Harding could answer that one...after all, he has taken all of the credit for the big Toyota project.
As well, has anyone else noticed the huge numbers of layoffs taking place across the country in the manufacturing sector? Despite the claims made by our government that Canada is doing okay, the numbers of people losing their jobs seems to be increasing on a daily basis.
And then this week GM announced that they are asking 70,ooo workers in the uSA to quit their jobs....so they may hire some cheap labour instead at half of the wages that their current labour force is paid.
Canadas' government says they don't believe that this will trickle down into the Canadian economy...this slow down, but undoubtedly it will result in some Canadian layoffs.
So the question is, what would have made Mr Flaherty decide that cutting the GST would be such an economic boon when every other economist in Canada seemed to think it was a bad idea?
Let's ask Mr Flaherty
The Ontario economy is slowing down to a miserable pace...so much so that Toyota Canada is now complaining that the costs of building their cars in their government subsidized auto plant in Woodstock(that was financed by tax dollars, tax cuts and tax credits) will exceed what they can get for them on the market....even after we taxpayers financed the crap out of this, they still say they can't make money...so what is the point of them coming to Woodstock? Perhaps Michael Harding could answer that one...after all, he has taken all of the credit for the big Toyota project.
As well, has anyone else noticed the huge numbers of layoffs taking place across the country in the manufacturing sector? Despite the claims made by our government that Canada is doing okay, the numbers of people losing their jobs seems to be increasing on a daily basis.
And then this week GM announced that they are asking 70,ooo workers in the uSA to quit their jobs....so they may hire some cheap labour instead at half of the wages that their current labour force is paid.
Canadas' government says they don't believe that this will trickle down into the Canadian economy...this slow down, but undoubtedly it will result in some Canadian layoffs.
So the question is, what would have made Mr Flaherty decide that cutting the GST would be such an economic boon when every other economist in Canada seemed to think it was a bad idea?
19 comments:
Now. Now. Flaherty is no more to blame for the mess Canada is in than he was for the mess Ontario was in some years ago.
If Liberals want to run an election campaign on a promise of raising the GST from 5% back to 7%, I'm getting some popcorn because I want to see how they can spin a tax increase into votes. So let's get this straight: are you advocating that Liberals run on a campaign promise to increase the GST? Please clarify...
There won't be an election on that issue, but there will be one on the mismanagement of the economy, the war in Afghanistan(and it's associated gross mismanagement)and a few other items such as the lack of a bidding process on finance ministry contracts,(even after publicly touting how accountable the NEW government is{but will never be})...and a myriad of other items that seem to have "slipped" through the minds of the PMO.
Oh yes, and lets not forget those memorable floor crossings they all wanted to prevent.....and you call yourself grumpy?
Anonymous said:
>>Oh yes, and lets not forget those memorable floor crossings they all wanted to prevent.....and you call yourself grumpy?<<
I'm not sure whether you're the same anonymous who gave the first comment or the owner of the blog who is commenting anonymously. I am not a defender of the Tories - I can't stand Stephen Harper and I don't like a lot of his policies. I've voted Tory or Liberal in the past - probably like most Canadians do. I'm interested, though, in whether the owner of the blog would advocate that the Liberals run on a promise to increase the GST. Still waiting for an answer on that one...
The GST cut was designed to encourage spending should say something like an economic slowdown happen. Toyota will bring increased revenue to Woodstock and area no matter how you slice it, whether the employees move here or not. So while tax money was sunk into the project, it's only a means to an end, which I will remind you, Woodstock taxpayers aren't the only ones paying for the government subsidies. The high dollar has led to a majority of the layoffs in the past six months, because, as an export based economy focused on the United States, we have lost a lot of business. That's free market economics for ya.
Don't forestry and mfg's mostly export their raw/mfg products to the USA?
What other industries in Canada are losing jobs, that AREN'T exporters to the USA?
If the protectionist Democrats win, it's gonna get worse.
"That's free market economics for ya."
In a free market system the taxpayers don't subsidize industry.
"Toyota will bring increased revenue to Woodstock and area no matter how you slice it,"
If that's the case why is our Mayor forecasting an additional 29 million dollars of municipal debt over the next three years? Where's all this "revenue" going? All I see is more taxes and more debt. Show me the money. Show me the benefit to the community.
Bullshit, there was never a forecast of an additional $29 million in debt forecast. If you're shooting your mouth off bender you should at least get your facts straight.
Check the Heart FM news site. They are quoting Harding as having said that our debt would increase from 7 million to 36 million by 2011. He said at his "State of the City" breakfast. Unless Heart FM is full of shit.
Just because it isn't in the Sentinel Review doesn't mean he didn't say it.
Well. Well. That news item seems to have disappeared. The google cache just missed it so I guess the slate is wiped clean. I don't suppose anyone else saw it before the sanitation engineers wiped it?
Was anyone actually at the event in question? Can anyone confirm Hardings statement regarding debt?
GOT IT !!
Yahoo cache
http://ca.search.yahoo.com/search;_ylt=A0geunIlArZH1HcB2rTrFAx.?p=heart+fm+debt+36&y=Search&fr=yfp-t-501&ei=UTF-8&rd=r2
It's just a piece of it but there it is. The first entry.
He said it. That's "prosperity" for you. He might be able to control the news at HeartFM but Yahoo is a bit out of his reach.
If the link expires I've saved the page this time.
Hey there 2:50pm,
You seemed pretty confident when you said, "there was never a forecast of an additional $29 million in debt."
One might almost think you knew the item had been deleted. Next time you try to rewrite history on the net allow me to suggest that you get a copy of Internet for Dummies first. :)
hey, it wasn't me that posted that!
Glad to see everyone is having a good conversation.
I don't think anyone would be silly enough to fight an election on tax increases.
Im saying that an error in judgement was made when deciding to "cut" the VAT.(according to many economists this was a poor way to give people "value" in their tax reductions.
They'll never increase it(the liberals)...they will just find a new way to tax us to make up the difference.
and hey, im not a liberal...but have run for the pot party several times.
:)
I just looked at Heart FM and the story is back! How about that!
I guess they didn't delete it after all. They were just having some of those "technical difficulties" that seem to afflict Rogers whenever the Mayor has a problem with reality.
So, let's get back to the original question ...
---------------------------------
""Toyota will bring increased revenue to Woodstock and area no matter how you slice it,""
"If that's the case why is our Mayor forecasting an additional 29 million dollars of municipal debt over the next three years? Where's all this "revenue" going? All I see is more taxes and more debt. Show me the money. Where's the PROSPERITY for the people of this community?
Since things got sidetracked by the Mayor and his toadies trying to bury evidence(again)here's my answer to Jim's question.
"what would have made Mr Flaherty decide that cutting the GST would be such an economic boon"
He never for a moment thought it would be a boost to the economy. Even he's not that stupid. It was meant to be a boost to getting the CPC elected to government. It was an election promise. It had only one goal, buying votes. It worked. That's why he's finance minister and not finance critic.
From The State of the City on Heart FM...
"The Mayor today, also unveiled a new economic development initiative. The city is setting up a free website to allow businesses in Woodstock to advertise job vacancies for free."
So, the Mayor has a heart after all. That should be of great assistance to the people who are going to have to look for a second job in order to be able to pay their property taxes.
"a free website" for job seekers/employers?
Doesn't CEC provide this at no cost already to the community?
why the redundancy?
It's just a PR campaign. It serves to make it look like Harding is actually doing something when he's really doing fuck all except screwing us.
So where's the mouthpiece that said, "Toyota will bring increased revenue to Woodstock and area no matter how you slice it?"
Come on out from under that rock and explain the 29 Million in forecast debt.
Where's the PROSPERITY fucktard?
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