Richards Report – November 1, 2017 – Out of Control Spending
Out of Control Spending
On October 24, Liberal Finance Minister Bill Morneau gave a Fall Economic Statement, providing an update on what new things the Liberal government plans to spend taxpayer money on. This is the same government that claims to stand up for the middle-class, yet continually attacks the wallets of hardworking Canadians. The Fall Economic Statement simply confirmed what we already know: that the Liberal government has no plan for our economy besides uncontrolled spending.
“We will run modest deficits for three years so that we can invest in growth for the middle class and credibly offer a plan to balance the budget in 2019.” Prime Minister Trudeau made this promise in the Liberal 2015 election platform, along with running short-term deficits of no more than $10 billion. The Fall Economic Statement confirmed that the federal deficit is DOUBLE what the Liberals promised. This means that the Liberals will have to find some way to pay for all the spending and we all know what they are going to do: raise taxes.
When the Liberals proposed to raise taxes on small business owners, Canadians were outraged. The Liberals were forced to go back to the drawing board on their tax grab. Unfortunately, the Liberals have not given a full explanation on what they plan on doing with these tax changes. They purposely remained vague and there is a good chance that many of these proposals will be brought up in next year’s budget. Small business owners need to remain active and participate in pre-budget consultations before the 2018 federal budget. They should also contact the Prime Minister, Finance Minister and their local member of Parliament with any concerns or suggestions that they may have. The only reason the Liberals scaled back on their disastrous tax hike was because they got caught. After all, there needs to be a way to pay for all the new spending that the Liberals have planned.
Our middle-class is not better off, no matter what the Liberal talking points say. More than 80 per cent of middle-class Canadians pay more taxes under this Liberal government, according to a recent Fraser Institute Study. By adding debt at twice the rate promised, the Trudeau Liberals are mortgaging our future and setting up for massive tax hikes to pay for all this reckless spending.
How else will the Liberals pay for all this spending? Sadly, apparently going after Canadians living with diabetes is part of the answer. The Canada Revenue Agency (CRA) has been denying diabetics’ applications for the Disability Tax Credit, even though these applicants have the proper medical certifications. As a result, this means paying thousands of dollars more in taxes. The move comes after the CRA mused about taxing employee discounts on things like clothing and hamburgers. The Liberals need to pay for their spending somehow and it is disappointing to see them target some of the most vulnerable Canadians. We also should not forget about the Liberals’ carbon tax, which will raise the cost of everything, once again taking more money from the wallets of hardworking middle-class Canadians.
As a Conservative, I believe that Canadians should be able to keep more of their hard earned money and that the government needs to control its spending problem.