14 billion dollar surplus!

Canada posts a 14 billion dollar surplus! As much as I’m not a conservative I have to give credit where it is due. That is a lot of money we can throw against the debt. I’m glad we haven’t given up on climbing our way out the hole Trudeau and Mulroney put us in. I was a little worried with all that spending. At least we aren’t continuing to dig like some other countries with dollars worth less than ours (hee hee).

Wasn’t it Harper that complained so loudly that the Liberals were posting these unexpected huge surpluses? I wonder how much of an income tax cut we will get.

  1. #1 by M.K. on October 2, 2007 - 10:06 am

    It’s so good to see that this government has not forgotten about paying off the debt.

    I hope the first tax break we get is income splitting. That will make a huge diffence in many households, particularly single income households.

    It will also allow a whole lot more children to be totally cared for by their own parents, and not need day care.

  2. #2 by LT on October 2, 2007 - 10:13 am

    I don’t think it will be income splitting. Paying down 14 billion in debt frees up 750 million in interest payments.

    That comes out to $25 for every person in Canada. I don’t even know how you could factor that in as an income tax cut, as even a half a percent cut at any tax bracket would save you more than $25 per person. Maybe they could do it by raising the personal tax exemption by $150 or $200.

  3. #3 by M.K. on October 2, 2007 - 6:55 pm

    At $25 a person that could translate into a $200.00 tax exemption for a 4 peron household. Even that would help a little.

    The income splitting would take the pressure off in so many other areas, which for most households would quickly be re-invested into the economy which would generate more revenues, that can then be taxed.


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