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Thursday December 10, 2015

December 9, 2015 by Graeme MacKay
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By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Thursday December 10, 2015 Who could have predicted these problems for the Liberals? Absolutely everyone (By John Ivison) Who could have predicted the Liberal plan to raise taxes on top earners would not pay for a $3.4-billion cut for the middle class? Who could have forecast that the Liberal pledge to withdraw fighter jets from Iraq would rupture relations with the Americans? Apart from absolutely everyone, that is. Justin TrudeauÕs first Question Period as prime minister was a miserable affair for the government, so exposed is it on two policy positions that never made any sense Ð beyond being blatant political bait for voters so hungry for change they were prepared to swallow any mendacity. Bill Morneau, the finance minister, conceded in a late afternoon press conference that reducing the middle income bracket tax rate for nine million Canadians, while simultaneously raising the rate for the 319,000 taxpayers earning more than $200,000, would not be Òrevenue neutral,Ó as the election platform had claimed. The tax cut will amount to an average cut of $330 for individuals and $540 for couples Ñ which is welcome relief. But there must be serious doubts about the affordability of the measure Ñ something the Liberals would have known, even as they sold it as a wash financially. The day the proposal was released in early May, the CD Howe InstituteÕs research director, Alexandre Laurin, told me the tax package would never pay for itself. Experience in other jurisdictions such as the U.K. showed that tax receipts fall because people find ways to reduce their taxable income. He released a paper to that effect last week, suggesting the new income tax rate of 33% would yield less new revenue than the Liberals had suggested. The government admitted as much Monday, saying the new tax changes would cost a net amount of $1.2 billion a year for the next five years. Morneau has already given a fiscal upda

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Thursday December 10, 2015

Who could have predicted these problems for the Liberals? Absolutely everyone

(By John Ivison) Who could have predicted the Liberal plan to raise taxes on top earners would not pay for a $3.4-billion cut for the middle class?

Who could have forecast that the Liberal pledge to withdraw fighter jets from Iraq would rupture relations with the Americans?

Apart from absolutely everyone, that is.

Justin Trudeau’s first Question Period as prime minister was a miserable affair for the government, so exposed is it on two policy positions that never made any sense – beyond being blatant political bait for voters so hungry for change they were prepared to swallow any mendacity.

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Thursday November 5, 2015 (James Mennie column) When you consider weÕve just come through a federal election campaign where the selfie proved itself a legitimate and highly effective political tool, it wasnÕt surprising this weekend to see Justin Trudeau, the undisputed winner of that campaign, proving once again he is the most photogenic prime minister designate in recent Canadian history. If you missed it, the Trudeau familyÕs trick or treat theme on Saturday night was rather eclectic, Mom and Dad going with a generic Star Wars look while the two older children opted for your standard Disney princess and sword toting bird ensemble while the youngest (the choice presumably made for him) was led from door to camera-crew-surrounded door as a Ninja Turtle. Given that Trudeau had already tweeted a Happy Halloween message and family portrait to his 932,000 followers, the images flooded social media and the comments seemed for the most part to be positive, many of them expressing delight at the countryÕs being led by so down to earth and happy looking a family. And when you consider that even the crustiest, most hard bitten political analysts have acknowledged that TrudeauÕs message of hope and positiveness pretty much cut Stephen HarperÕs campaign to ribbons, itÕs a pretty safe bet the optimistic glow engendered by the Liberal victory on Oct. 19 will continue beyond the swearing-in ceremony for Trudeau and his first cabinet scheduled for Wednesday. That said, IÕm not entirely sure that glow will still be around by, say, Christmas. And the reason I suspect TrudeauÕs national honeymoon wonÕt survive 2015 is that the selfie taking, Star Wars loving, YouTube dancing, drama teaching, musketeer mustachioed candidate- the guy who actually won this thing Ð will, by sheer political necessity, cease to exist once the words ÒSo help me GodÓ have left his lips on Wednesday. The transformation wonÕt be due to pr

Bill Morneau, the finance minister, conceded in a late afternoon press conference that reducing the middle income bracket tax rate for nine million Canadians, while simultaneously raising the rate for the 319,000 taxpayers earning more than $200,000, would not be “revenue neutral,” as the election platform had claimed.

The tax cut will amount to an average cut of $330 for individuals and $540 for couples — which is welcome relief. But there must be serious doubts about the affordability of the measure — something the Liberals would have known, even as they sold it as a wash financially.

The day the proposal was released in early May, the CD Howe Institute’s research director, Alexandre Laurin, told me the tax package would never pay for itself. Experience in other jurisdictions such as the U.K. showed that tax receipts fall because people find ways to reduce their taxable income.

Wednesday, December 11, 2013He released a paper to that effect last week, suggesting the new income tax rate of 33% would yield less new revenue than the Liberals had suggested.

The government admitted as much Monday, saying the new tax changes would cost a net amount of $1.2 billion a year for the next five years.

Morneau has already given a fiscal update suggesting that slower than expected growth has turned a forecast surplus this fiscal year into a deficit of $3 billion, before any Liberal campaign promises are factored in.

The new government had pledged that it would rack up deficits of $25 billion over three years, before returning to surplus in 2019-20. (Continued: National Post)


Published in the Winnipeg Free Press, Friday December 11, 2015

Published in the Winnipeg Free Press, Friday December 11, 2015

 

Posted in: Canada Tagged: Bill Morneau, Budget, Canada, election, Justin Trudeau, list, naughty, nice, promises, Santa, spending, tearsheet, workshop
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Friday December 11, 2015 →

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