Quote:
Originally Posted by MarchHare
I will have paid more in taxes this year than I did the previous one because the Harper government scrapped the most recent income tax cut passed by the Liberals. The only people who come out ahead because of a one or two percent reduction to the GST vs. an income tax cut are those who are planning to purchase a new home or maybe a new vehicle.
My two biggest expenses -- rent and groceries -- aren't subject to the GST anyway. I'd much prefer a cut to income tax than a reduction of a sales tax.
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Good point on the rent and groceries thing. For me, I already save what I think is enough and have my Dave Ramsey 3 month coushin in place and I would likely blow the rest on vacations etc or paying down debt.
I was thinking this more as a political move than economic.
MYK