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Originally Posted by CaptainCrunch
Yup drive more people into bankruptcy and out of the middle class to lower class while continuing to spend a deficit on the operating budget. Brilliant. Your plan would reduce individual spending making things even worse economically and probably increase operating and spending budget deficits.
Yup increase taxes on individuals, increase taxes on everyone and what profit. And You have to be careful on this whole thought that infrastructure stimulus is going to do anything, as its becoming impossible to build anything in the current regulatory environment and nobody is going to invest in it under your plan.
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The only way to get off of an O&G rollercoaster is to have a stable source of revenue so that governments don't panic one way or the other (going nuts on public sector, or going nuts with cuts). The PST/HST is the best way to do that.
On a good O&G year, I would say we could do what Alaska does and hand out dividends to Alberta citizens, but then on a bad year like this, the PST keeps our government stable.
Noone is going bankrupt over a 5% PST - it's the reality for literally every other province in Canada.