Now that Justin Trudeau and his vanity pursuit for a 2-year seat on the U.N. Security Council has hit a brick wall, perhaps his “Canada is back” statement aimed at getting the required support should be rephrased to “Canadians need new leadership in all political parties”.
Right now, the Liberal government has, by choice, abandoned its responsibility to tell Canadians that they have a plan in place to address the escalating $250+billion deficit? Trudeau is promising a “snapshot” in the next few weeks, a meaningless statement with simply too much wiggle room. The “snapshot” is no substitute for what is required and the government has had enough time to draft a first-round financial forecast. Canadians will understand that a forecast is subject to change.
While few may argue about the financial help that has been provided, it is unlikely the deficit can be eliminated solely by economic activity and it appears evident that service cuts and/or additional taxes will be required. Why isn’t the Trudeau government providing the public with information now on how the mounting deficit will be addressed? Why? Because they know what will have to be done and are trying to ignore the elephant in the room. Perhaps a higher HST? How about an inheritance tax or an estate tax as in the United States? Canada’s 1.3million millionaires and 41 billionaires are also a good option to consider for more taxation. They could also consider a certain amount of tax on anyone having a gross income of more than $500K a year. Unfortunately, history has shown that it is the middle class that will be the most impacted with whatever tax scheme is introduced.
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