Liberals Finally Reveal Their Economic Strategy

The federal Liberals say they can add almost $146.5 billion in new government spending and tax cuts over the next four years, and still bring the budget back to balance with a surplus of about $1 billion by the end of a four-year mandate.

To get there, they say, a Liberal government would seek out billions in savings from eliminating a number of tax breaks, cutting back on government spending and cracking down on tax evasion.

The party’s most prominent financial lieutenants released the full costing of the Liberal campaign platform Saturday, outlining the billions in new spending and revenues that would be in store for the next four years should a Liberal government be elected on Oct. 19.

They’ve promised to lower the federal income tax rate to 20.5 per cent on incomes between $44,700 and $89,401, paying for it by raising taxes on the wealthiest one per cent.

They didn’t go as far as to outline the tax credits and benefits that would go should they win, but they did hint that it would mean the end of boutique tax breaks that help Canada’s top one per cent of earners ” in particular a stock-options tax break for CEOs.

  • Petrilla

    Despite the stupidity of Justin Trudeau under Liberals, Canadian will pay more tax. Under FRENCH CITIZEN MAD THOMAS MULCAIR… the FRENCH from FRANCE,will we Canadians b under FRENCH FROM FRANCE RULE? Has the CBC ever asked this. CBC is still very stupid. Any question s about it? CBC journalists are stupid. They NEVER ASK ANYTHING. They are told. Which is why we do not believe anyone from the CBC. Nor does anyone.

    • I saw this:

      It’s a good little breakdown of how far up a certain creek Liberals will take the rest of the country.

    • k1962

      They should just try to collect what is owning from the 200,000 Chinese investor class immigrants who report incomes as low as those living on Vancouver’s downtown Eastside yet live in mansions and have no trouble paying their property taxes. There was an excellent article in the Vancouver Sun yesterday by Douglas Todd that got my blood boiling. In the last paragraph they quote Jenny Kwan (NDP) as saying that it goes against Chinese culture to report one’s income and that is apparently ok with her. WTF. Get the hell out of Canada and stop using our social services you tax cheats. Apparently refugees pay more taxes than these scammers.

  • If you believe in the tooth fairy…

  • Cat-astrophe

    Smells like more government oppression piled on throughout, with just the right words thrown directly at the largest voting block to win the election.
    Only it won’t work.

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  • ontario john

    The CBC is ramping up its anti-Harper rhetoric this Sunday morning, now that Trudeau has promised major new funding for the CBC. The Turdeau budget reminds me of this advice. If your family is having a hard time paying the bills and mortgage, what do you do? Why you go out and spend money like drunken sailors. What could go wrong?

  • simus1

    I have always admired one feature of Liberal governing logic. They aren’t like others who set up some exclusive patronage trough filled with taxpayers sweat and then steal every dollar in it. They carefully waste the bulk of the funds through what would appear to be normal government inefficiency so no one is the wiser when they take their share.

  • andycanuck

    And don’t tell me it wouldn’t apply to shipping corporations registered in the Caribbean, right?

  • andycanuck

    And I wonder if the $90G tax-lowering threshold is individual or household income?

    Not that it makes anything alright just that if it’s household income, then it’s not even helping who it’s allegedly supposed to help.

  • Tokenn

    It seems to me that Liberal financial strategy is based on the principle that oats become more valuable after being processed through a horse…

  • Some Rabbit

    From the people who brought you Common Core Math.