Saturday, October 20, 2007

Toronto Board of Trade Uses Stephane Dion Logic to Support New Taxes

In a bone-headed move, the Toronto Board of Trade and a handful of land developers has endorsed a plan by Mayor Miller to impose two new taxes - a $260 million land transfer tax (assuming it is reduced from the current $300 million) and a $60 million vehicle registration tax.

Strangely, in a Dion-esque maneuvre, the Board of Trade spokesperson suggests they still oppose the taxes in principle, despite the endorsement.

Why would business oppose the taxes when they don't have to pay the taxes? Because their customers will. And when the government drains another $320 million a year of disposable income from consumers, business sales will reflect it. Remember this assault on the wallet of Toronto taxpayers is on top of the already-imposed new garbage tax draining $60 million a year and the 3.8% property tax hike. Just wait until the votes on the new billboard tax, the new liquor tax, and the new sidewalk tax!!

Waht is missing from this mad rush to impose new taxes is the voice of the average taxpayer who already pay 46% of their income in taxes!!

As well, the mayor created a so-called 'blue ribbon' panel to investigate savings and efficiencies that includes a union voice and business but no taxpayer voice.

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