Lik

My goodness... Post dated cheque on the rate cut starting summer next year??
The doom day is comi ...
lo_pak 發表於 2011-5-25 10:33

You forgot to mention the lowering of HST to 11% next July, and then to 10% in July 2014 la.

Overall it still sucks, as the majority of BC residents already got shafted both on the monetary and political front. Yes, there is some relief coming (via reduction in HST), but it is too slow, too little, too late. I would have supported keeping the HST had the correction plans been carried out sooner and in a heavier dosage, but now I'd have to sit down and give it some serious thoughts to see if I can support this.

-Lik

Lik

回復  Lik

Totally agree, it's JUST a disaster... I see no hope to win the referendum...
lo_pak 發表於 2011-5-25 10:57

C Hing,

What do you mean by "win" sin? Keep the HST? or revert back to PST/GST? or something else?

Personally, I already see this as a lose-lose situation regardless of how the referendum turns out. Citizens have already been ripped off, restuarant businesses have already taken a major hit, and millions have already been wasted by the provincial government. The only good thing we got out of it so far is ousting our Gordie Campbell (and Carol James, to a certain extent).

The only thing to think about between the Yes or No vote is (yet again) -- which apple is less rotten?

-Lik

Lik

After reading.... my mind doesn't change at all... go against HST....
Lik is right : too slow, too little, too late... what's the point ?
AAC 發表於 2011-5-25 11:55

For me at least (although I think voters should think alone similar lines), the questions are:

1) can we (and the province) afford to repay the federal government all that transfer money that we have already spent?

2) is having GST/PST back going to be better for the medium and long term health of the province?

The poison pills that Kevin Falcon and the Liberals threw in to scare/threaten the public are:

a) if GST/PST is back, there will be no reduction in tax rates in the foreseeable future, so it's gonna be a 7%+5% combined rate for the long haul.

b) not all the PST exemptions we previously had will be back

Last but not least, don't be fooled into thinking that the NDP is any better on the HST vs PST/GST issue either. NDP's Adrian Dix purposely avoided a direct answer to the media's question on whether the NDP will lower the PST rate.

-Lik

Lik

Philip,

Right from the very first day when the HST was proposed, I have acknowledged that the idea in itself was good, but the execution by Colin Hansen and the Liberals at the time was a complete failure. Given the nice fat subsidy that the federal government has proposed, I can overlook the Liberals' election promise to not introduce additional taxes to the province. To me at least, the biggest thing voters and residents are upset about is the lack of public consultation prior to the HST implementation. Details of the HST introduction were not only flawed, it was also a slap on the face on our democratic values.

Directly or indirectly, the backlash against Gordo and Liberals has more or less taught them a painful enough lesson. Economically, I see efficiencies in having the HST, and that is a major reason why I have never been against it ideologically. Execution-wise, I think the HST should be implemented so that it ends up taxing consumers by more or less the same amount as the GST/PST combination would, and that means the HST rate needs to be lower than 12%. Not becoming an economist or account, I don't know what that number should be, but 11% next summer and 10% in summer 2014 still seems too high.

As I was saying previously, regardless of whether we keep or scrap the HST, I think both proposals are poor. Much like yourself, my decision to support the HST or not is not about whether I can reap any benefits out of it. Rather, the question is -- which route would end up hurting the province and the residents less?

Reluctantly, I am leaning towards supporting the HST, but I am certainly still on the fence.

-Lik

Lik

以我所知，因為 HST 呢樣野只係關乎省級事務，所以應該係有約束力嘅。（如果係聯邦政策，咁省搞嘅公投就只係有參考性，而並無約束力。）再者，就算真係無約束力嘅話，省選就來來緊，而自由黨亦經已因為HST已搞到一身蟻，唔照住個公投嘅結果去做，你估 Christy Clark 真係唔驚大選會仆直咩？

-力

Lik

That is why Hong Kong is way better. Low income tax and no sales tax at all.
peter236 發表於 2011-5-26 00:34

你成日都講到中港兩地咁好，咁點解你仲日日踎響度，而唔快啲欄返去為國為港捐軀？仲留響加拿大食屎做乜鬼呀？

-力

Lik

Debt isn't always bad. If the country does not have any debt at all, economists would probably argue that it is not getting the most out of the country.

Think of it this way -- many (most?) home owners are in debt because of their mortgage. But is that a bad thing if you can afford your monthly payments? Through leveraging, you are getting more out of your salary.

Another example is business lending. If I have $1M capital on hand, am I only going to use that $1M to conduct my business? Or am I going to use that $1M and borrow some more to make it a $5M business that would earn me a much higher return?

The thing you want is manageable debt levels. As long as the amount of debt is not a burden to the economy, you are actually getting more out of what you have.

-Lik

Lik

Another prime example is the stupid HK government and all that reserves that it is sitting on. The money might be used to purchase US T-bills and whatnot, earning a paltry 2% interest. Had some of that money been returned to taxpayer's pockets, people could use it as they see fit, and in doing so, stimulate additional economic activity that yields a higher return than that stupid 2% interest.

-Lik