Key good points:
• Something called the Home Renovation Tax Credit, a one-year tax credit of up to $1,350 per household for home renovations valued at a maximum of $10,000. You have to spend at least $1,000, but not more than $10,000, and the work would have to be done between Jan. 27, 2009, and Feb. 1, 2010.
• A cut in personal taxes by $20 billion over six years, including increasing the basic personal amount that can be earned tax-free, and raising the upper limit of the two lowest personal income-tax brackets (meaning all taxpayers will benefit, because we all pay at the lowest rate, plus—if we earn more—at the next higher rate, and so on). The upper limit for the 15 per cent bracket would go to $40,726 (used to be $37,885), while the upper income limit for the 22 per cent bracket would rise to $81,452.
• A cut in business taxes by $2 billion over six years.
—there would be a 100 per cent capital cost allowance (CCA) rate for computers bought for your business between Jan. 27, 2009, and Feb. 1, 2011.
• A tax cut for seniors.
• An increase in the basic personal exemption to $10,300 from $9,600 retroactive to Jan. 1.
Otherwise, it’s the largest government spending increase since WWII.
EXTRA OBSERVATIONS:
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Suddenly they notice the debt.
While our current national debt—built up over decades of liberal-left-style government spending—sits at about $457-billion as of Oct. 31, the state-owned, state-run Canadian media behemoth has this graphic (at left) as a backdrop. Note the upper right of the screen ominously contains an animated rolling “debt counter” — ostensibly pointing to the folly of rising debt loads in our country, notwithstanding that the socialism-reliant CBC totally relies on benevolent big-government spending. Their cute counter starts at $501+ billion (and rolls upward of course), rather than at $457 billion which is where it is. $501 billion is more like where it was when the Harper Conservatives first took over. So of course It also doesn’t contain the information about how much the Conservatives have paid down the debt since they came to power, which is roughly $37 billion or more just since they won the first election (that, you see, would be political!).
• Over at the National Post, they seemed to have employed a graphics artist (Steve Murray) that perhaps so hearts the Barack Obama / Che Guevara T-shirts, that he made one with Finance Minister Jim Flaherty’s mug on it, for their front page online. He may have a point. (Hey those “artists” really are worth all those increases in federal government cash!)
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Liberal on liberal action!
I love it when this happens: The liberal-left mayor of the socialist enclave Torontostan, David Miller, thinks the budget stinks. But BC Liberal Premier Gordon Campbell thinks it’s all good. CTV News host Graham Richardson told Premier Campbell that he thinks the government’s projections are optimistic (because by golly as a reporter, he would know, just as his cohort Bob Fife does). Liberal Premier Campbell replied: “…It’s a good budget, its a very positive start and we should be working together to put it to work for Canadians … I can tell you this: Canadians expect us to go to work for them and their families—they want us to be helping protect their paychecks, not pursuing power here in the Parliament.” He then put on a bullet-proof vest and hid under Graham Richardson’s desk.
PTBC was founded by Mr. Johannesen in 2000.
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