McGuinty underestimates Ontario's high-income earners

[OptsyEagle]

I agree whole heartedly with this article even though I am far from it ever having any direct effect on me personally.

http://www.theglobeandmail.com/globe...rticle2413039/

I don't know how a politician, who is supposed to be educated by advisors on economics, thinks that you can take money away from those that directly generate and grow GDP and give it to those who produce nothing or almost nothing of economic benefit, and think that somehow everything will work out well.

You must first produce the prosperity before you can distribute it. What is so difficult about that to understand. Obviously Ontario needs more properity not less.

[HaroldCrump]

When was the last time McGuinty estimated anything correctly.
He can't even estimate his own incompetence if he had to save his life.
His incompetence is second only to the corruption of those around him.

[the-royal-mail]

I see what you're saying but then where would you propose the savings come from? The middle class has had their wallet raped quite severely over the past 20 years. We're taxed to death and inflation is running rampant (despite what the bogus inflation # the govt uses) with all these stupid fees and what not. It would seem to me the rich have more capacity to pay more, than the middle class does. The middle class is maxed out. Look elsewhere.

[Xander]

It shouldn't be about getting more tax$$$. It should be about cutting spending and saving money as painful as it will be.
Ontario is going to run a 15 BILLION DOLLAR deficit this year!! WTF? That is almost half of the projected fereral overspending!

People on this forum, more than anybody else, should understand that you cannot spend more than you make. PERIOD.

[marina628]

I personally would not mind giving up another 2% in income if the government was also doing their share to tighten the belt.Unless you are high profile government member you should travel economy and have a reasonable meal /cab budget.BEV oda should be paying back that entire Limo expense.I go to London every year and stay at Grange Hotel ,I hire a Mercedes and driver from Addison Lee which cost me about 80GBP a day to take me to and from hotel a couple times a day.I wait 5 minutes or so for my driver to arrive rather than pay one to idle for hours in case I need to go somewhere.

[Four Pillars]

This article talks about a tax increase on the rich in England which ended up not increasing tax revenues at all:

http://www.theglobeandmail.com/repor...rticle2405189/

The reality is that the more money one makes, the more opportunity they have to manipulate their taxes (by deferring etc).

[HaroldCrump]

The pathetic part is that not one red cent of this will go towards debt reduction.
The money supposed to be raised through this "fairness tax" has already been spent - before even 1c. has been raised.

They are over-estimating how much they will be able to raise through this, and under-estimating how much will be spent.

The deficit will not be paid down and this tax will never go away.
We are still waiting for the GST to be rolled back - 20+ years and counting.

[Homerhomer]

I see what you're saying but then where would you propose the savings come from?

Government waste and mismanagement of our money. Problem solved. All services could be managed by half the work force they have right now, add to it excessive benefits not available to almost anybody in private sector and you really have a problem solved, until then any tax hike will be wasted just like the previous were.

When I hear those jobs for life and pensions for few years on the job it drives me crazy.

[andrewf]

Isn't this the NDP's fault? It was their price for support/abstain from voting against the budget.

It was this or an election, so I can't blame McGuinty, even though it's not the most intelligent policy.

[HaroldCrump]

It is always somebody else's fault.
Mike Harris's, Stephen Harper's, NDP's, the greedy rich people's, Big Foot's, The Noch Monster.
This is just another instance in a long, long chain of fiscal mismanagement and incompetence over the years.