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Monday, April 27, 2015

Not just Harper's granddaughters problem

5 Problems We Need To Wait For Stephen Harper's Granddaughter To Solve

Carpe diem!

We knew Bay Street types can only see one quarter at a time -- but does Finance Minister Joe Oliver even care about the future?

When asked by CBC's Amanda Lang Tuesday night if his budget was saddling future governments without revenues to solve future problems, Oliver said "why don't we leave that to Prime Minister Stephen Harper's granddaughter to solve":

Oliver was responding to a problem raised by two separate reports on Tax Free Savings Accounts recently published by the Broadbent Institute and the Parliamentary Budget Office that both found his budget's doubling of TFSA contributions not only benefit the wealthy -- but will lead to a $15.5 billion annual loss for the next generation of Canadians, 40 or 50 years down the road.
So what other problems do we need to wait for Stephen Harper's as-of-yet unborn granddaughter to fix?

1. The Revenue Problem

Canada doesn't actually have a spending problem -- it has a massive revenue problem.

In Tuesday's budget speech, Oliver bragged how the Conservatives have "cut taxes to their lowest level in more than half a century." Oliver seems convinced spending billions on tax giveways (that have mainly benefitted the wealthy) is a good thing, but in reality it renders Canada powerless to solve (or even control) many of the nation's most important social and economic problems:


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