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Originally Posted by MarchHare
No, I'm not suggesting either party instituted Reaganomics, just that the principle behind it applies here. In a stronger economy, government tax revenues will rise. Reaganomics tries to stimulate the economy by lowering corporate tax rates, with the ultimate goal of eventually increasing tax revenues if the economy starts to boom.
The Canadian economy was stronger in 2002 than it was in 1993, ergo tax revenues were up. There was no malicious action on the part of the Liberals to cause that increase.
As for personal income tax revenues going up, the same thing applies. In 2002, unemployment rates were about half of what they were in 1993. The average Canadian was also earning a larger wage than they were at the time the Liberals came to power. Again, it shouldn't be any surprise that the total amount of income tax revenue collected was higher than it was in 1993, solely because economic forces dictated that's the way it should be.
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So if that's the case....tax rates would be DOWN from where they were 12 years ago because the economy is stronger right?
Is that the case?
Absolutely and completely NOT. Its one of the main reasons I left the country. The *******s were stealing then and they are stealing even more now.
So...now how do you explain it?
Here is my "take"...the tax and spend liberals taxed and spent then taxed some more and then taxed some more. When the TAXES they collected continued to pour in, they then applied that to debt, but not all of it so they could claim SURPLUS.
That's really not THEIR money to do that with, but I digress. Im certainly no economist becuase i hate mmath with a passion, but the real numbers are pretty clear. The average Canadian has LESS money by % coming home with them than even 12 years ago when the Liberals promised to abolish the GST to provide just that scenario. Since then, there have been a MULTITUDE of additional taxes applied to the average Canadian. Ther is NO getting away from that dude.
But hey...they did start that fabulously incompetant gun registry, stold money for party purposes, leaked info to insiders about trading, etc etc etc....so i guess its not so bad.