Budget Coming down today

[White Doors]

Originally Posted by FireFly

Mhmmm, and also so that no one province in the Maritimes had a tax advantage over the others, in regards to sales taxes.

Possibly, but when I lived there I don't recall hearing that as a reason. Also, Newfoundland has a higher rate than NB and NS does it not?

[rubecube]

Originally Posted by Bring_Back_Shantz

Yeah, but it's not like they get $65/mont cash. They get $65/month tax credit, so for an 8 month/year student it reduces their taxable income by $520. If the lowest tax bracket is 15.5% then that only translates to an increase of $80.60.

Probably more than the GST rebate difference, but still not a huge ammount of cash.

I believe my GST rebate is $80 every quarter.

[Bring_Back_Shantz]

Originally Posted by ken0042

The other thing about the GST; with federal tax I mostly forget about it. I never look at my net pay; I see my gross pay after deductions and say to myself that is what I get every 2 weeks. With GST, I am reminded and forced to calculate it each time I pay it.

Not to be a dick, but I'm just gonna go ahead and give you the benefit of the doubt and assume you know what Gross and Net mean and just mixed them up.

[ken0042]

Whoops. Thanks BBS!

[White Doors]

After they get it down to 5% they will start on the income tax issue I believe. teh brackets need to be moved up and the middle and upper income earners need a break too.

[White Doors]

Originally Posted by fotze

The moral of the story is that if a student's union or those that claim to speak for 'the students' are opposed to any government program it means that government decision is a good one, in pretty much all cases.

There is a reason student's unions get 1% turnout to vote.

That and 99% of them are quasi-communists.
ahh.. youthful rebellion.

[rubecube]

Originally Posted by White Doors

That and 99% of them are quasi-communists.
ahh.. youthful rebellion.

I'm not a communist...I'm a capitalist liberal, figure that one out.

[White Doors]

Are you a student union leader?

[rubecube]

Originally Posted by White Doors

Are you a student union leader?

I'm not a student but am in a union...

[White Doors]

Well then?

[rubecube]

Originally Posted by White Doors

Well then?

On a sidenote, I did meet with MRC's Socialist Activist group.. Those guys make the NDP sound sane.

[White Doors]

Any hot chicks?

'Cause hot socialist chicks are easy.

[rubecube]

Originally Posted by White Doors

Any hot chicks?

'Cause hot socialist chicks are easy.

Nope...just dudes with Karl Marx beards.

[Reaper]

Originally Posted by White Doors

Any hot chicks?

'Cause hot socialist chicks are easy.

Not easy because they are promiscuous but easy because any guy who can make sense in a conversation is a genius and is worthy of a bonin'.

[rubecube]

Originally Posted by Reaper

Not easy because they are promiscuous but easy because any guy who can make sense in a conversation is a genius and is worthy of a bonin'.

Guess I'm out of luck again...

[FlamesAddiction]

Originally Posted by I-Hate-Hulse

Textbook Tax Credit - $65/month for FT students, $20 for PT.

There already was such a tax credit for students, at least according to H&R Block who has done my taxes for the past 5 years. It was like $500 per year or something like that.

[RougeUnderoos]

All I can say is thank god that climate change business has been cleaned up. It doesn't even warrant a mention anymore, so I guess it's no longer an issue.

[Mccree]

Originally Posted by FlamesAddiction

There already was such a tax credit for students, at least according to H&R Block who has done my taxes for the past 5 years. It was like $500 per year or something like that.

There is an Education credit which is 400/month if you are a full time student and 125/month for part time. But there is NO credit for textbooks.

[FireFly]

Originally Posted by Bring_Back_Shantz

Okay, I'm not saying I disagree but your numbers don't add up. I think the point you're trying to make is that the 1% GST decrease constitues a larger percentage of the lower income person's income than the rich dude, but the numbers you put up don't support that.
Seems to me the guy making $150k per year is seeing twice the benefit of the guy making $30k.

Sure $200 may be a big deal to the guy making 30k and the rich dude may not care about the extra $2000 but on a percentage of income basis, the guy making $150 is getting double what the 30k guy is. It's pretty tough to justify that kind of disparity with "It means more to the lower income guy". If it means so little to the rich guy then why aren't they putting it all to the lower income guy?

It doesn't really matter to me either way, but it seems you either have your point, or your numbers mixed up.

They aren't my numbers and the point is still the same. The breaks are meant for the 'average Canadian'. Those in the lowest bracket don't spend as much on their income on taxable goods, but when they do, that money will now go farther which means more to them. You're looking at it as % of income. A person making $30,000 will spend almost 25% of that on food. A person making 150,000 will spend about 5%. (Those are estimates). To the person making $150,000, that $2000 is completely disposable. (Season tickets anyone?) To the person making $30,000, that's new clothes for their kids.

Why aren't they putting it all to the lower income guy? That's a good question. Since the very lowest bracket doesn't pay taxes, I'd say a GST cut is about the only break they can get, no?

[Red]

Originally Posted by FireFly

Why aren't they putting it all to the lower income guy?

To motivate you ( Bring_Back_Shantz) to work more and earn more money.

Simply put, if you want more money - earn more money.

The rich are doing just that and they are already paying a lot of taxes.