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Originally Posted by LeftCoaster
This isn't America. We already tax the wealthy here. The highest marginal tax rate is 53.5% in BC and the breakpoint to hit the highest rate is significantly lower than in 'competing' jurisdictions. If we ramp that up higher in any meaningful way were going to see an even bigger brain drain of professionals from this province.
Austerity doesn't mean cutting spending and getting nothing for it. It's no secret a lot of government entities are not efficient, if we look to make the existing work run more smoothly we can get the same work done with less capital spend.
Well over $30 billion in debt in 3 years is a horrifying prospect for this province.
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I'm not saying to increase income taxes, we should be taxing wealth directly, something this Province has no shortage of.
I've also heard every political party, especially right wing ones, talk about cutting wasteful spending and making things "efficient", but promising is a lot different than doing. We can look at the fact that every Province in Canada that is run by a right wing government isn't actually doing this magical austerity = spending cuts without service cuts scenario, they're also going into massive debt and are increasing government spending year after year. The BC Liberals also promised this and they also delivered growing deficits by the end of their reign, why would going back to that same party make any difference?
So, what do you propose to cut? Besides promises of "efficiency" that never materialize.
If we had kept the consumer carbon tax that $30B hole would be $10B smaller.