Ontario Budget 2009

[afransen]

Even getting the growth in debt to under the rate of nominal GDP growth is good enough to ensure our debt burden does not increase. Honestly, I expect we'll be in surplus sooner than 7 years, though it will likely require some tax increases that would not be politically expedient to talk about now.

 

[afransen]

I always knew you were a closet 'tax and spend' liberal.

Kidding aside, even with that cushion though their growth projections are way too optimistic. $3 billion cushion is nothing in this economy. They are projecting 14 million auto sales for crying out loud.....

I hope for the sake of our province that the deficits end in 7 years. But as it stands right now, I am a little skeptical.

I wouldn't call a $3 billion contingency on a $100 billion budget 'nothing'. 3% is substantial.

 

[jade_lee]

Given that he seems to be writing the McGuinty budget - yes someone seems to take him seriously. Did you notice that those corporate tax cut that Flaherty and McGuinty were having that war about last year, appeared in yesterday's budget?

Notice that a year ago Flaherty had no idea about what was to become of this great country's economy? Heck he was projecting a surplus as late as Nov 08!
Are you insinuating that a corporate tax cut last year would have put GM and the rest of them in a better situation than they are in now? That jobs would have been saved? It's all smoke and mirrors, this current Ontario government has a gun to it's head held firmly in the hands of big business (ie automotive giants etc) and we are all hoping that it's not the employers in this province who are dead in the end. (nice article in the star today with the analogy I liberally used.)

 

[nfitz]

Are you insinuating that a corporate tax cut last year would have put GM and the rest of them in a better situation than they are in now? That jobs would have been saved?

Not in the slightest - it wouldn't have made one iota of difference. Corporate tax rates only impact corporations who are making a profit! I think we can all be pretty certain that GM and similiar corporations are not paying any corporate taxes right now, or at any time in the foreseeable future!