Spending Tallies - Conservatives letting is all ride

Posted on January 4, 2006
Filed Under Politics |

CBC - Canada Votes 2006 - Reality Check - Spending Promises

This is crazy, read the link above and look at the current tally of the of spending promises from the big 5 parties. (note the Green Party is lower than it should be, because it has not been updated with yesterday’s platform annoucement).

Can you believe it is not the NDP that is promising the most in money (the NDP is traditionally the LEAST fiscially sound party) it is the Conservatives… hold up. How is it that the conservatives are the least conserving?

Take a look at the break down of where the promises are going… the CBC breaks it down into 2 sections: tax cuts, spending. With all the things that are currently broken in Canada (health care, infrastructure, education) one would think that the party promising the most money is SPENDING the most money.

Nope, dead wrong. Conservatives have (to date) promised a total of $79.6 Billion… how much is that to spending? $6.6 Billion… or 8.3% of promises. So tax cuts are where they are promising to throw most/all of our cash, instead of health care, road, colleges and universities. But most of those tax cuts are “consumption rebates”.

TO REALISE A BENEFIT OF THE TAX CUTS, YOU FIRST NEED TO SPEND MONEY, more you spend more you “saved”.

1) Aren’t taxes supposed to redistribute wealth, instead of reward those with more wealth?

2) Current personal savings rates are NEGATIVE (source: StatsCan)
How are people going reap any savings when they already have nothing to spend, or what they are spending is really someone else’s money that they will be end up paying multiples the original cost in interest. And interest rates are creeping up, wait until their mortgages come due.

This is why income tax cuts are preferred by even the most (small c) conservative economist.

In summary, the CPC economic plan is all flash with little substance for most Canadians, and it may return the country into deficit. I just tore into them without touching the social issues… but that can of worms takes care of itself (”you’re either with us, or against us”).

That was fun… i wonder who’s next, the other guy on the right, on one of the ones on my left?

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