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BC HST
Well you should of heard about it, and its about to come. If you haven’t heard about it, here is a quick summary of what it is. The BC HST is basically the provincial government combining the 5% GST and 7% PST taxes together to make the 12% tax HST.
Well you might think whats all the commotion about his new tax. Premier Campbell says that “This is the single biggest thing we can do to improve B.C.’s economy.” Most people would disagree.
The official opposition, the BCNDP, have fought out against this since when they announced there were implementing this. Carole James has ”allied” with former premier Bill Vander Zalm to defeat the newly proposed HST tax in B.C.
You might think, what does this have to do with me, or so what? Well when the newly added tax is in place you’ll see a bit of a change. To you, it might be your school supplies having an additional tax on top of them. It’ll be just like trying to stretch your mom or dads wallet bigger right when school starts. Restaurants and low income families, on my opinion, will face the biggest downfall. In the food industry, usually you only pay the one tax. But now, when the tax comes they’ll have to pay two. With the 12% tax in place, tips for the business will surely go down . People with low income already face a hard time in life now. But, when the tax is in effect, it will make their lives harder and more poor than they already are.
In my opinion, I really disagree with the implementation of the HST. I don’t really think that it’ll help our economy at all. Especially since were stealing from hard working families and small businesses that deserve all the money they make. Whats your opinion?
September 10, 2009 at 7:34 PM
Oh just an anonymous writer from the school. o-o
September 10, 2009 at 7:48 PM
TAMMY!
:O:O the banner looks gorgeous. that pedestrian sign makes me think of “what not to wear.” ;) i like.
aww, you guys make me so proud and the first issue ain’t even out yet. :’)
September 12, 2009 at 4:21 PM
Ahahahah oh you!
Thanks so much :)
As of today, the first issue is out! Maybe you’ll get the paper version from someone :D
I’m glad you’re proud !
September 16, 2009 at 6:50 PM
TAX CUTS – A SIMPLE LESSON IN ECONOMICS
Let’s put tax cuts in terms everyone can understand. Suppose that every day, ten men go out for dinner. The bill for all ten comes to $100. If they pay their bill the way we pay our taxes, it would go something like this:
• • The first four men (the poorest) would pay nothing.
• • The fifth would pay $1.
• • The sixth would pay $3.
• • The seventh $7.
• • The eighth $12.
• • The ninth $18.
• • The tenth man (the richest) would pay $59.
So, that’s what they decided to do. The ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily meal by $20.”
So, now dinner for ten only cost $80. The group still wanted to pay their bill the way we pay our taxes.
So, the first four men were unaffected. They would still eat for free. But what about the other six, the paying customers? How could they divvy up the $20 windfall so that everyone would get his “fair share”?
The six men realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being “PAID” to eat their meal.
So, the restaurant owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay. And so:
• • The fifth man, like the first four now paid nothing (100% savings).
• • The sixth now paid $2 instead of $3 (33% savings).
• • The seventh now paid $5 instead of $7 (28% savings).
• • The eighth now paid $9 instead of $12 (25% savings).
• • The ninth now paid $14 instead of $18 (22% savings).
• • The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to eat for free. But once outside the restaurant, the men began to compare their savings.
“I only got a dollar out of the $20,” declared the sixth man. He pointed to the tenth man – “but he got $10!”
“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got ten times more than me!”
“That’s true!” shouted the seventh man. “Why should he get $10 back when I got only $2? The wealthy get all the breaks!”
“Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor!”
The nine surrounded the tenth and beat him up.
The next night the tenth man didn’t show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore.
February 2, 2010 at 4:34 PM