Friday, April 01, 2011

Tax and Spend grits

iffy has announced billions of dollars of new spending, which he can't pay for. The reason the grits never put in their national childcare when they were in government from 1993-2006 was because it was not affordable. Even the CBC fact check on the national with Greg Weston says such a program would cost $16 billion. Watch here.
Others have also noticed that grit spending promises far exceed grit cuts. I guess the grits could always announce a carbon tax.
“Taxes have to rise; there is no other way” — Ignatieff on using higher taxes as “solutions” for the environment (Kingston Whig-Standard, June 10, 1991)

OTTAWA — A corporate tax hike won’t cover Liberal campaign promises, two economists warn.

The Liberals figure if the corporate tax rate is increased to 2010 levels, the federal treasury would get a $6-billion windfall.

Ron Kneebone, economics professor at the University of Calgary, doesn’t think that figure is credible.

“It’s demonstrably untrue,” he told QMI Agency.

Kneebone says the fat revenue figures are based on old projections anyway, and even if you raised the rate back up, you wouldn’t just get back the revenue you gave up.

“Companies will pull away,” he said. “And so you lose revenue.”

Stephen Gordon, economics professor at Laval University in Quebec City, agrees.

More grit spending today

Searching For Liberty has more.

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