Quote:
Originally Posted by oilyfan
I think we need to all of these:
- cut spending
- increase tax rates for individuals
- introduce a nominal 3% sales tax
I think increasing the corporate tax rate is a mistake because it will fundamentally change the economics of projects. While I see that shaking out over time as adjustments are made, the short term pain right now is not worth it.
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If they are going to implement a sales tax they may as well make it 5%. People are going to be pissed off that we have a provincial sales tax as it is. Making it 5% versus 3% isn't that much difference to the consumer pocketbook but it lowers the inconvenience factor because it makes it easier to figure out tax on a transaction when coupled with the GST.