Canada's Trudeau to cut sales tax and send checks to millions of Canadians as election looms
Canada's Trudeau to cut sales tax and send checks to millions of Canadians as election looms
apnews.com
Trudeau to cut sales tax and send checks to millions of Canadians as election looms
Summary
Canadian Prime Minister Justin Trudeau announced measures to address the rising cost of living, including a temporary suspension of the federal sales tax (GST) on select goods from Dec. 14 to Feb. 15 and one-time checks of C$250 for 18.7 million Canadians earning up to C$150,000 in 2023.
The tax break covers items like children’s clothing, toys, restaurant meals, and beverages.
Critics view the move as a desperate political strategy ahead of a looming federal election, with Trudeau’s Liberals trailing Conservatives 39% to 26% in recent polls.
I mean of that kinda “totally not bribery” seems to work for Doug Ford why not try it! It’s not like $250 won’t make a fucking dent in our struggles and that…holy shit 4.675 billion dollars couldn’t be used more efficiently.
It's not like this money is sitting in a bank account. Government finances don't work like your budget, it's not a matter of tax income going to a chequing account and him eTransfering Canadians money.
The government decides where new money is allocated and takes money out of the money supply through taxation. When it comes to circulation, the government can also incentivize saving or spending by giving tax breaks or levying new taxes.
The Bank of Canada also influences peoples' spending, borrowing, and saving decisions by controlling interest rates.
The government could decide to implement UBI tomorrow and they wouldn't have to hold a bake sale, they'd just have to raise taxes elsewhere (or reduce the amount of money entering the economy through the banking system) to control the inflationary pressure that would add to the economy.
I’m aware of this, and I know that it takes spending money first to strengthen our economy later. Where this is a bother is that $250 won’t do anything for anyone and someone will have to pay for it eventually and that money could be better spent doing things like fixing our horrible situation with a lack of doctors and nurses(and maybe they could pay the nurses more).
If it won’t be enough to make our lives meaningfully different then it won’t do much of anything in the long-term or even much in the short-term.
Kamala Harris promised similar bullshit. It’s pretty clear that the voters were not impressed with the idea of a one-time coupon you can file along with your tax return. They want to see structural measures taken to rebalance the economy so that ordinary people can live in dignity even if that means that the phantasmagorically wealthy will have to get downgraded to fantabulously wealthy.
Exactly! If you want to put money in our pockets tie minimum wage to inflation or something!