Quote:
Originally Posted by peter12
Canadians are being overtaxed by $14.2 billion. Let's see some tax cuts.
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Depends on if you believe we should be paying off the debt right down to 0. Paying $14.2b on the principal equates to about a 20 year loan on the rest of the debt. However, it will get harder and harder to maintain a 20 year pace with rhetoric like the above - the last year on a 20 year pace requires about a $40b surplus. Next year requires nearly $15b to stay on pace. In case this doesn't make a lot of sense, note that the math works like a mortgage where you pay off a lot more principle towards the end and in this case principle equates to government surplus towards debt reduction.