Hst

[Reasoner]

Why everyone should stop whining about the HST tax.

HST, the harmonized sales tax thing for Canada, why are people complaining about this? They just assume its a tax with no benefits and go on there lunatic petitions. This petition is a waste of time, they will just dismiss it, and if they do for whatever reason cancel, they will be forced to add another tax that is less beneficial to Canada. Let me do a simple equation.

HST- Helps business, increase in profits- More jobs available and hey maybe expand, more jobs and less people unemployed.- Increased economy around Canada.- Over periods of time price tags will go down.

Now often what I believe people think about HST is the price of purchasing things in shop will be more expensive right? Over time this tax will reduce prices in stores.

So please, tell me whats wrong with this tax?

[Rota]

Sales taxes are a tax on almost EVERY retail good. This proportionally taxes the poor more than the rich. Feel free to have a sales tax, but you need to couple it with an increase in capital gains and/or property tax if you want to be fair.

I have no problem with a sales tax. I think they are a great source of income. I'm just sharing the common argument against them.

[AbstractAngel]

The petition to get it repealed is only in BC, Ontario has not questioned it. I think it has a lot to do with misinformation. At first, everyone saw the pitch and thought "hey, that's great!" but on Canada day when HST hit everybody clued into what it did to their pockets.

Gas went up which was the big thing people noticed, and big expenditures (for instance, the cost of a funeral could cost 2 thousand more) shocked a lot of people. What they aren't realizing is because the companies that produce the materials to make the products that are sold are no longer paying the full taxes, they can be more competitive. This over time will cause prices to drop either way, but I don't think BC is really taking this into consideration.

[Reasoner]

Sales taxes are a tax on almost EVERY retail good. This proportionally taxes the poor more than the rich.

But eventually the prices will go lower over time when the business goes on, and more job opportunity's will open. Though I understand what your going at.

The petition to get it repealed is only in BC, Ontario has not questioned it. I think it has a lot to do with misinformation. At first, everyone saw the pitch and thought "hey, that's great!" but on Canada day when HST hit everybody clued into what it did to their pockets.

Gas went up which was the big thing people noticed, and big expenditures (for instance, the cost of a funeral could cost 2 thousand more) shocked a lot of people. What they aren't realizing is because the companies that produce the materials to make the products that are sold are no longer paying the full taxes, they can be more competitive. This over time will cause prices to drop either way, but I don't think BC is really taking this into consideration.

hehe, I guess you kinda deciphered I am from the province B.C, but yes I can agree, there is probably a lot of misinformation out there. Over time this will be forgotten.

[Rota]

But eventually the prices will go lower over time when the business goes on, and more job opportunity's will open. Though I understand what your going at.

It doesn't matter if prices eventually drop. The simple fact is that the lower your income is, the greater percentage of income you spend on retail goods. The more money you make, the more disposable income you have to invest in financial vehicles that make more money.

Thus, the poor will always spend a greater proportion of their income on a sales tax, than the rich.

[abracax]

Why everyone should stop whining about the HST tax.

HST, the harmonized sales tax thing for Canada, why are people complaining about this? They just assume its a tax with no benefits and go on there lunatic petitions. This petition is a waste of time, they will just dismiss it, and if they do for whatever reason cancel, they will be forced to add another tax that is less beneficial to Canada. Let me do a simple equation.

HST- Helps business, increase in profits- More jobs available and hey maybe expand, more jobs and less people unemployed.- Increased economy around Canada.- Over periods of time price tags will go down.

Now often what I believe people think about HST is the price of purchasing things in shop will be more expensive right? Over time this tax will reduce prices in stores.

So please, tell me whats wrong with this tax?

I don't live in Canada so I had to read up on this tax, your explanation was way off of what the tax is actually for.

In Canada, the Harmonized Sales Tax (HST) combines the Goods and Services Tax (GST) and Provincial Sales Tax (PST) into a single sales tax. This changes the PST from a cascading tax system, which has been abandoned by most economies throughout the world, to a value added tax like the GST.

Like the GST and PST, the Harmonized Sales Tax is a regressive tax. To maintain the progressive nature of total taxes on individuals, Canada and other countries have accompanied the change with a reduction in income taxes, and instituted direct transfer payments (refundable tax credits) to lower-income groups, resulting in lower tax burdens on the poor.

Though economists support the change and studies have shown it will be revenue neutral, polls show that 82% of British Columbians and 74% of Ontarians opposed it before it was implemented.

To me this sounds like a better step forward for Canada. I apparently still have quite a bit of reading to do because I am lost on how it affects Canadian citizens the way AA says it will. So bear with me on this, I am extremely uninformed on this and would like a little help understanding it more.

[Reasoner]

I don't live in Canada so I had to read up on this tax, your explanation was way off of what the tax is actually for.

My apologies, the op was not meant to be a explanation really.

[abracax]

My apologies, the op was not meant to be a explanation really.

Ok, I think I have a better understanding of the tax now. From what I get it's basically Reaganomics for the soc.ialist. It's a way to stimulate the economy and lesson the overall taxes paid every step of the way on services and products. In the long run it will stabilize prices and possibly lower some prices on minor products to help fight inflation.

Would this be a correct assessment?

[Reasoner]

Ok, I think I have a better understanding of the tax now. From what I get it's basically Reaganomics for the soc.ialist. It's a way to stimulate the economy and lesson the overall taxes paid every step of the way on services and products. In the long run it will stabilize prices and possibly lower some prices on minor products to help fight inflation.

Would this be a correct assessment?

From what I understood yes, that is basically my understanding of it.

[Rota]

Reaganomics

<shudders>