by Atelo » Mon Sep 13, 2010 12:59 am
*Warning* Tax rant.
Canada's new HST goes in this thread. I think I mentioned it somewhere else, however I have some updated figures.
This new tax has basically massively increases our cost of living. Rough estimates so far put my increased cost of living at well over $1000 per year. My monthly bills (electricity, natural gas and internet) have gone up $350 per year alone. New things are taxed all over the place that weren't before and I can't even begin to estimate the increased costs on general purchases. Groceries are up from $200 for 3 weeks to $240, an increase of $680 per year by itself. For someone making lots of money this probably doesn't affect them noticeably, however I don't make lots of money. My current budget has a surplus of $100 per month, which you can imagine will be completely eaten up by the tax increases and probably put me in a deficit.
The government claims this tax will save corporations money and in turn, corporations will pass those savings on to the consumer with more competitive pricing and jobs. The only problem is, when has a corporation ever passed their savings on to anyone other than their stock holders and executive bonuses??? Whoever thought this one up should be shot.
This is corporate mentality:
First quarter we made $100 million
Second quarter we made $80 million... OMG ABANDON SHIP, FIRE 10,000 workers! We aren't making money anymore!
Third quarter we made $100 million again.. whew. Our executives almost didn't get their $20 million bonuses.
Forth quarter we made $110 million. Woot. Let's not hire anyone new and increase executive bonuses to $30 mil.
At no point in there do they lower prices due to increased profits. Ugh.
*Warning* Tax rant.
Canada's new HST goes in this thread. I think I mentioned it somewhere else, however I have some updated figures.
This new tax has basically massively increases our cost of living. Rough estimates so far put my increased cost of living at well over $1000 per year. My monthly bills (electricity, natural gas and internet) have gone up $350 per year alone. New things are taxed all over the place that weren't before and I can't even begin to estimate the increased costs on general purchases. Groceries are up from $200 for 3 weeks to $240, an increase of $680 per year by itself. For someone making lots of money this probably doesn't affect them noticeably, however I don't make lots of money. My current budget has a surplus of $100 per month, which you can imagine will be completely eaten up by the tax increases and probably put me in a deficit.
The government claims this tax will save corporations money and in turn, corporations will pass those savings on to the consumer with more competitive pricing and jobs. The only problem is, when has a corporation ever passed their savings on to anyone other than their stock holders and executive bonuses??? Whoever thought this one up should be shot.
This is corporate mentality:
First quarter we made $100 million
Second quarter we made $80 million... OMG ABANDON SHIP, FIRE 10,000 workers! We aren't making money anymore!
Third quarter we made $100 million again.. whew. Our executives almost didn't get their $20 million bonuses.
Forth quarter we made $110 million. Woot. Let's not hire anyone new and increase executive bonuses to $30 mil.
At no point in there do they lower prices due to increased profits. Ugh.