Monday, April 23, 2012

Prime Example of Inept Budgeting for the Sole Purpose of Retaining Political Power.

This provincial government of McGuinty propped up by the NDP is showing taxpayers that it is oblivious to proven economic reality that higher or wealth taxes have a negative impact on the economy 99 out of 100 times and a 1 chance out of 100 that taxes have no economic impact.
Ontario did not need a tax increase on anyone but rather a tax decrease and a limit on government spending of no greater increase of that of the country's annual inflation rate.
Let me predict that this tax on the so called rich will only modestly increase revenues but shall have not effect whatsoever on reducing the provincial debt or increasing employment within the province.
Ontarians only have to look south of the boarder to California to see what happened to that state with their progressive income tax on its so called wealthy or high income residents.
By cuddling up to the NDP with its union activist supporters and those from the environmental and poverty lobbyists McGuinty and the NDP with this budget agreement have torpedoed Ontario's small and retail service businesses and are treating so called rich residents as if they were all TD Canada Trust green  dispensing machines with endless cash.

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Thanks for your thoughts, comments and opinions, will be in touch. Peter Clarke