D
DeletedUser394
Guest
The elections in Canada just rapped up two days ago with a record low turnout 59.1%, and the conservatives won a second term minority government.
In order to make an informed decision (I'm not allowed to vote but I might as well not be ignorant :smxB
I was researching all the candidates and all their platforms. (There are at least 25 registered federal political parties in Canada (5 are mainstream).
That said I came across a party (whom I will not name) that would like to abolish or at least lower the personal income tax. (top bracket is at least 50% for teachers!!!). In it's place they would use a "consumer tax" that would tax only for objects or services bought.
It's safe to say that this party has not won, but the premise of this idea is somewhat interesting to me. Now, don't get me wrong...I am not saying that I agree with this statement or not (consumer tax), but it is very interesting as I have previously contemplated this before ever even having heard of this party.
My discussion question is; "What economic impacts would be felt as a result of lower personal taxes and the addition of a "consumer tax"? Would this boost the economy, or do the opposite? Would this make people spend more or save more?"
Note; Canada is a Social Democracy, as opposed to a Capitalism Democracy.
If this is political (although I don't think so), please remove the post.
As a side note....the results of my first ever economics test = 47/48 = 98%
lol
In order to make an informed decision (I'm not allowed to vote but I might as well not be ignorant :smxB
I was researching all the candidates and all their platforms. (There are at least 25 registered federal political parties in Canada (5 are mainstream).That said I came across a party (whom I will not name) that would like to abolish or at least lower the personal income tax. (top bracket is at least 50% for teachers!!!). In it's place they would use a "consumer tax" that would tax only for objects or services bought.
It's safe to say that this party has not won, but the premise of this idea is somewhat interesting to me. Now, don't get me wrong...I am not saying that I agree with this statement or not (consumer tax), but it is very interesting as I have previously contemplated this before ever even having heard of this party.
My discussion question is; "What economic impacts would be felt as a result of lower personal taxes and the addition of a "consumer tax"? Would this boost the economy, or do the opposite? Would this make people spend more or save more?"
Note; Canada is a Social Democracy, as opposed to a Capitalism Democracy.
If this is political (although I don't think so), please remove the post.
As a side note....the results of my first ever economics test = 47/48 = 98%
lol
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