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Article: Retroactive tax cuts -- that's real stimulus
- Article from:
- Winnipeg Free Press
- Article date:
- January 30, 2009
- Author:
CopyrightCopyright F.P. Canadian Newspapers Limited Partnership Jan 30, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Do you know how much less tax you pay now than you did in year 2000? Stay tuned -- you'll be shocked.
Budget 2009, with back-to-back deficits exceeding $30 billion, makes you wonder what the finance minister was smoking last November when he provided an economic update that said all is good with the country, "steady as she goes," and expect no deficit.
Tuesday, Jim Flaherty said that this budget is all about priming the economic pump and targeting stimulus to where it will be spent quickly, and in Canada. However, he missed a huge (though logistically tough) step to quicken the effect -- make the tax reductions retroactive to 2008, so everyday folks get a tax refund in the next few months, ...