Author Topic: Ontario Provincial Election 2018  (Read 4738 times)

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Offline Queefer Sutherland

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Re: Ontario Provincial Election 2018
« Reply #15 on: March 31, 2018, 05:29:21 pm »
No, it is far, far, far, far worse. The money goes to the banks, and it is far, far, far, far harder to reverse.

How does it "go to the banks"?  Extra money in people's pockets is usually spent and goes into the economy.  Even if they put it in the bank for savings or investment, good on them, it's still theirs.

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The brain dead Flaherty/Harper GST cut and corporate gifting is how they racked up the second largest debt of any Canadian government (behind Mulroney). A tax cut is only good to elect incompetents by morons.

They racked up the high debt because they spent money into deficit in order to stimulate the economy in reaction to the roughest economic recession since the Great Depression.  This is Keynesian economic policy 101 that just about every other western government did as well.  The problem is that Keynesian economics says that in the good economic times you're supposed to raise interest rates and pay back the debt you incurred during the rough times, which governments are usually reluctant to do because voters like their handouts & borrowing cheaply.

Now, if I were the Ontario Premier, I wouldn't be worried about a tax cut at the moment since the prov is heavily indebted and has quite a few problems to fix, it would be better to pay down the debt a bit and fix up some things like healthcare before tax cuts me thinks.
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