Saturday, February 18, 2012

On the Fatal Flaw of The Drummond Report

Below is a link to a great article written for straightgoods.ca on the fatal flaw of the Drummond Report. Essentially, he didn't have a choice but to recommend deep cuts because one of his rules was that he couldn't recommend raising any taxes. Read the eye-opening piece below.

http://www.straightgoods.ca/2012/ViewArticle.cfm?Ref=147

The article suggests that ordinary, middle-class Canadians are not in favour of most tax increases, but 90% would support a tax increase on those whose income is over $500,000 a year. Seems fair to me.

The article also says that raising the corporate tax rate back to 14%, instead of DECREASING IT even more to 10%. What an irresponsible thing to do that would be in these times of financial turmoil! That would lead an even larger deficit for the province of Ontario and would piss off most of its residents to no end.

Mr. McGuinty, I have been a supporter of yours on most policies up until now, but don't turn into another zombie serving the corporate interest over that of regular people. Fight it! I know deep down you are more progressive than Stephen Harper! Allow taxes on big corporations and the wealthy to go up so that we don't have to strip this province to the bone!

EDIT: TwoToronto Star writers wrote some interesting stuff on Don Drummond's report today. Read their take on Drummond and Ontario below.

http://www.thestar.com/news/canada/politics/article/1133243--walkom-the-real-victims-of-the-drummond-report-s-cuts?bn=1

http://www.thestar.com/news/canada/politics/article/1133234--hebert-drummond-report-albert-budget-expose-canada-s-two-tier-economy?bn=1

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