A long while ago, the Cons had released their budget. Now they say that this budget will help lower income families and would be the greatest thing since sliced bread. Well, I decided to put the numbers to the test by placing a hypothetical single parent, single child family through the paces of both the Liberals and the Cons budgets.
Liberals......... Reason ................................Cons
33,000 ..........Salary ...............................33,000
.-3,600 ..........Income Tax .......................-3,565
.-7,200 ..........Food..................................-7,200
.-1,200 ..........Power ...............................-1,200
.-7,200 ..........Rent ..................................-7,200
....-480 ..........Telephone.............................-480
.-2,568 ..........Clothes .............................-2,544
....-708 ..........Transit Pass .........................-708
..........0 .........Transit Credit ......................+108
..........0 .........Child Care Credit .............+1,200
..........0 .........Child Care Credit Tax ..........-108
..........0 .........Child Care Cost ................-2,400
.+2,124.........Child Benefits.....................+1,956
....+574..........GST Credit..........................+574
.....-480 .........Alberta Health Care .............-480
You see, this is the real difference between the Liberals budget and the Cons. Now, since the non-taxable income is the same, I left those at the planned tax exemption level of $10,000 which will be the amount in 2009 and added in the Con's employee rebate crap thing. Food on average is placed at $600 and since it is food, it is GST exempt. Power is averaged at $100 per month, Rent is $600 per month, Phone is $40 per month, clothes are at $200 per month, transit is at $59 per month, Daycare is at $800 per month (which is the cheapest I have seen) which I worked in the child care packages and subsidies and of course Alberta Health Care is at $34 per month (I can't remember what it is but I believe it is still $34 per month). Now, there are a boat load of extra expenses that I forgot about and just didn't know about but there still is a $1500 difference in the savings. These are the facts people...The Con's budget was supposed to help people like this one, but there is no way that paying $1500 more is considered help when the rich are getting massive discounts and saving boat loads more money. I am not even mentioning how all the retarded spending that they are doing could essentially put the country into debt...I will get to that tomorrow or Tuesday. I just thought I would give you guys something to chew on.
3 comments:
Well - this taxpayer would probably not pay Alberta Health care Premiums after personal deductions; plus you left out the $1,000 employment deduction for all workers.
Then you assume that the Liberal day care program pays 100% of day care costs???? That's a dream. Even in Quebec it is $7 per day. In Alberta the day care subsidy follows the child and is on a sliding scale - the family is subsidized. This income parent may end up paying approximately $200 for a subsidized day care space - the subsidized spaces are costed at around $500 (my sister in law is an Exec. Director at a day care). Higher income families pay pup to $750 per child.Day care subsidies are provincial across the country.
Just to put another perspective on this. After the personal deductions, including tax deductions for day care expences this woman would most likely not pay much federal tax. The $1000 employment deduction will remove 640,000 taxpayers from the Federal tax rolls. She also qualifies for the tax free child tax benefit which, I believe is $240 per month for one child at her income and GST rebates - none of which will be clawed back or counted as taxable income.
In Alberta her provincial tax is flat at 10%.
This is precisely the kind of young family that the Conservatives are targeting for help. So your argument is moot.
I would assume that you are not a tax accountant. If you were you might encourage this lady to invest the $1200 into a Registered Education Savings Plan which would then be matched up to $400 per year for her child's education.
That would pretty well take her off the Fwederal tax rolls completely.
You cannot take a snapshot and skew the numbers the way you like them. Here is a quote out of the Liberal newspaper, The Toronto Star today:
"Most Canadians will pay fewer taxes than they did under the Liberals. The federal capital tax has been eliminated, the small business income tax rate has been reduced. The corporate tax rate has also been reduced."
See, it says MOST Canadians will pay fewer taxes. Your snapshot of 1 individual would never fly in a business where you need to do budget planning because you did not look at the overall view.
To let everyone know, these posts were with my previous numbers which were way off. They were wrong and I have fixed them now. So, as you can see, I do listen to my readers and if they find something wrong, I will fix it.
Post a Comment