2006 Federal Budget

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The new government unveiled its 2006 budget today. Naturally, a few things stuck out in my mind.

  • The lowest tax bracket has received an increase of federal tax
  • The potentially abusable Canada Employment Credit
  • A taxable Universal Child Care Benefit
  • Textbook credit for post-secondary students that doesn’t even pay for one textbook
  • Tax breaks for sports programmes only
  • Armed border presence?
  • A GST cut in a booming hot economy

3 thoughts on “2006 Federal Budget

  1. Kim unveiled his comments on the Canadian 2006 federal budget. I did’t look at the linked material, but in reading Kim’s comments, a few things stood out in my mind:

    – He points out that the rate the lowest tax bracket has increased without mentioning whether any of the others went up with it.

    – He points out that the the Canada Employment Credit is “potentially abusable” without seeming to notice that virtually every kind of tax provision in existence is “potentially abusable.”

    – He points out that the textbook credit doesn’t pay for the full price of one textbook but may not be considering whether it was ever intended to do so, or even conceived as something that would do so.

    – Is he shocked that his country might require the protection of its borders by force of arms? (If so, this seems like the kind of thinking that happens only in a nation that sits under the protective umbrella of a benevolent and peaceful superpower. However, that’s really a mischaracterization, because Canada is a full and vigorous participant in North American defense, including overseas efforts to protect world security. And, perhaps I’m interpreting wrong: In this context, “border” as only the southern border with the US, rather than also including the millions of miles of shoreline that form all Canada’s other borders.

    – I myself am surprised that the Canadian economy is characterized as “booming hot.” If it’s as tied as I thought it was to the US economy, it’s hard to imagine that being the case. (I’m not saying Kim is wrong, I’m just saying I’m surprised.)

  2. Oops. That was supposed to say, “…perhaps I’m interpreting wrong: In this context, “border” may mean only the southern border…”

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