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If it were used more in the way you explain, i.e. to provide lower income taxes for all Canadians and more rebates for low-income households, then I would certainly be more inclined to agree with you. However, IMO it is being used as an additional tax to our payroll taxes and user fees and the government has become entirely dependent on it as a supplemental source of revenue.
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It already has been used like this, though. Back when the government had balanced/surplus budgets, we saw income and corporate tax reductions from both the Chretian-Martin Liberals and the Harper Conservatives. These tax cuts would not have been possible without the GST to balance the books. I'd like to see it taken a step further: the GST should be increased and applied to more items but offset with cuts to taxes that are more harmful to the economy.