Tuesday, November 15, 2005

Stalin favoured Five Year Plans too

Lorne Gunter:

The Liberals claim the tax cut included in Goodale's plan is worth $30 billion, but just $5 billion of that will come this year -- perhaps $25 a month for the average tax filer. If you are middle- or upper-class, that's it, though, until 2010. Lower income filers -- who already pay only about 4.4% of Ottawa's total tax take -- will get little cuts next year and the next and the next. But only if the Liberals survive as government for another five years, and only if they don't change their mind about the cuts before then, the rest of us might -- might -- get another $12 to $14 a month.

Since the beginning of the year, the Liberals have announced nearly $100 billion in new spending over the next five years. Now, with an election in sight, they claim to be making $30 billion in tax cuts over the same period, but the bulk of that (more than 40%) won't kick in until the last two years, if it kicks in at all.

One-hundred billion in spending, $30 billion in tax cuts and somehow that is supposed to impress us into reelecting Grits.

Since they balanced the budget in 1998, the Liberals have taken $500 billion -- half a trillion dollars -- out of the economy in extra taxes, above and beyond what they needed to keep spending at 1998 levels. Now they are promising to give back $30 billion (6%) and we are all supposed to believe the Libs have done us a favour.

All we are guaranteed are this year's tiny cuts, which amount to about a trunkload of pop bottles once a month.

HT: Nealenews