Wednesday, August 10, 2005

Not All Ontarians Suffer From Delusions .. You Too Should Be Asking For Your Money Back

I was both shocked and pleased to see a report in the Windsor Star also discussing the huge additional tax grab at your money that the feds like to call a "surplus".

It's too early in the morning for me to crunch the numbers, but I am sure one of my astute readers will be able to figure out pretty quick how much extra they took from your paycheque for the year. Just goes to show that this government is not only inept at handling the important international affairs affecting this country, they are also extrememly inept at trying to forecast an accurate budget.

In my profession, budgets are prepared annually. At the end of the year, if we took too much money (which we always try not too) we give it back to our tenants. Budgets are always zero based (which means everywhere we can keep prices consistent we do) and we are accountable to our tenants about the ways we spend their money.

Now if these tenants can hold property manager's responsible for their dollars, then why isn't the same effort put into telling others who are also managing your money, that you want better accountability for budgeting in the future, plus a refund of the extra taxes they took from you last year. Is that too much to ask?

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2 Comments:

At Wed Aug 10, 11:24:00 AM MDT, Blogger Lex Luthor said...

Alright, I tried to tackle the number crunching (I'm an engineer, thats what we do) and here's the real simple answer...

The government expenses for 2004-05 was about $192.8 billion. There are rumors of a $5B surplus. Thats about 2.5% of total savings.

For the person earning $30K/year and paying 34% income tax (so $10.2K in taxes), the extra taken is about $255/year.

But remember that not all money in the government coffers is from personal income tax. Some is from business tax, GST, tariffs, etc. So, in reality, that $255 is more like $120/year.

my info is from ... http://www.fin.gc.ca/budget05/bp/bpc7e.htm
Lex

PS - In my opinion, any surpluses like that should be automatically put against the debt in order to reduce debt charges.

 
At Wed Aug 10, 06:18:00 PM MDT, Blogger W.L. Mackenzie Redux said...

If you've ever been to Intario you will realize there lots of saner folk but the majority of them live outside the GTA and metropolitan areas of the golden triangle....like up north they've been screeming for reason to return to politics for decades but they know Ontario is ruled by the political elite in the GTA and elsewhere. Windsor is a blue collar town which keeps getting screwd by the socialists and liberals they elect...I see a breakthrough there for the CPC as most people there run on a budget that feels the pinch when Ottawa cranks up another one of it's grandiose handout schemes.

I was surprised myself talking to friends and relatives thatere at how POed Windsorites are about the whole Adscam deal...I mean really pissed. When you run a household on a factory worker's salary wasted money is viewed as an abomination....particualrly when there isn't enough of it to go around after taxes.

 

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