Filename: SpecDec9ReTaxes (Lexar)
Date: 9 Dec 14
By: Frank Gue, B.Sc., MBA, P;Eng.,
22152 Joyce St.,
Burlington, ON L7R 2B5
905 634 9538
For: Editor: The Spectator
Re: “Clock is ticking … “ today’s Spec 249 words
One reads “5 ways out of the’ ’there is no money box’” with growing unease. Using the writers’ logic, any fiscal problem can be solved by raising taxes. But Ontario is now one of the highest tax jurisdictions in the world. We are accumulating debt at a rate several times the Canadian average. Canada in general, and Ontario in particular, has passed the optimum tax “take” from the economy, which is about 35-40 percent, or about 15 percentage points lower than ours.
Governments in general, and Ontario’s in particular, are poor fiscal managers. Think of Ehealth, or the Ontario Hydro mess, or the Green Energy boondoggle. Most governments could not manage their way out of a wet paper bag. And we are going to give them MORE money?
As the saying goes, if one finds himself in a hole, the first thing to do is stop digging. Here’s one of many ways to do that. Boards, Crown corporations, commissions use enormous amounts of our tax money. Use Dr. Pirie’s rule about each one: Sell it if you can; if you can’t sell it, give it away; if you can’t give it away, close it down.
It wouldn’t be hard to find other places where fiscal problems can be solved by applying ordinary sound household budgeting principles. We and our kids and grand-kids are going to have to do this anyway to pay for our governments’ profligacy; it’s past time we asked the same of those governments themselves.