Quote:
Originally Posted by MBates
Adding a PST can be made politically survivable and less detrimental to the economy if there is a corresponding reduction in tax burden elsewhere such as raising the basic personal exemption.
Also, I would think that in a jurisdiction with a massive tourism industry that part of the point of a PST is you get to collect significant money from visitors in addition to your own taxpayers.
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I'd add a PST and implement a progressive provincial income tax.
Currently we are at:
$0 – $61,200 8%
$61,200 – $154,259 10%
$154,259 – $185,111 12%
$185,111 – $246,813 13%
$246,813 – $370,220 14%
Over $370,220 15%
So if you add a 4% PST and do this:
$0 – $61,200 2%
$61,200 – $154,259 10%
$154,259 – $185,111 14%
$185,111 – $246,813 15%
$246,813 – $370,220 16%
Over $370,220 18%
It would be revenue neutral while reducing wage inequality, it stabilizes government finances instead of depending on O&G revenues, and carries limited risk of capital flight by maintaining a tax structure lower than Ontario and Quebec, but in line with say BC.
Edit: I'd also add in low income PST exemptions of some kind to help sell it to the masses