HST or PST check out this link..too long for me to post

[Labman2]

Well, the one thing that I noticed for sure. Rebuilding my boats, I could order parts from any one of the 3 WEST MARINE stores in B.C. and pay the GST AND Shipping and now it's cheaper to order from the main West Marine in the States and pay the Duty! Shipping is usually included in high $ purchases. It is no longer economically feasable to purchase online from out there.
Of course, when one is touring out there, it is expected to pay the PST/GST, but I also noticed a LOT of items that are now taxed that weren't before!!!

 

[Islandgirl]

Are you referring to the Vanderzalm studies?

"If you studied a little basic economics you would realize that giving a corporation a tax break means the corporation can produce product at a lower price. As a result the corporation sells more product which means it can hire more employees. This is all good for the BC economy. The other thing that economics teaches is that consumers pay the entire tax bill. When you require a business to pay more taxes the business just adds it on to it's selling price. End result is the consumer pays the taxes on a higher end product price."

One big flaw in your thinking always fishing .. WHEN corperations pays less tax that money goes to the shareholders of the corperation in the form of Dividend payments, share buy backs, and director/board member salary increases.. It is very rarely pumping back into employing more people unless the market supports that.. So with this EXTRA tax burden we ALL have less money in our pockets to buy things.. and yes that is economics 101..I have that course.. U of S

 

[alwaysfishn]

One big flaw in your thinking always fishing .. WHEN corperations pays less tax that money goes to the shareholders of the corperation in the form of Dividend payments, share buy backs, and director/board member salary increases.. It is very rarely pumping back into employing more people unless the market supports that.. So with this EXTRA tax burden we ALL have less money in our pockets to buy things.. and yes that is economics 101..I have that course.. U of S

I have no problem with extra money going back into the pockets of successful business people. Why shouldn't they be rewarded for taking risks with their savings that the regular employee won't take?

The point is that these folks pay taxes on their earnings, in fact in Canada, these folks pay over 80% of all the income taxes collected in Canada. And after they pay their taxes, they go out and buy stuff! In the process they pay a lot of HST, a lot more than you or I pay!

Maybe because you don't understand that, and that's why you object to corporations paying less taxes. Personally I am very happy to have business people like that in this country, as they ensure that I don't have to pay as much tax as I would have to pay if they didn't exist!

 

[sammyslabber]

I have no problem with extra money going back into the pockets of successful business people. Why shouldn't they be rewarded for taking risks with their savings that the regular employee won't take?

The point is that these folks pay taxes on their earnings, in fact in Canada, these folks pay over 80% of all the income taxes collected in Canada. And after they pay their taxes, they go out and buy stuff! In the process they pay a lot of HST, a lot more than you or I pay!

Maybe because you don't understand that, and that's why you object to corporations paying less taxes. Personally I am very happy to have business people like that in this country, as they ensure that I don't have to pay as much tax as I would have to pay if they didn't exist!

Spoken like a true Liberal. The rich get richer while they screw the rest!...sammy

 

[Gunsmith]

Spoken like a true Liberal. The rich get richer while they screw the rest!...sammy

I expect the business to make money by selling me a service or goods not by joining the government in picking my pocket of my hard earned money.
Ever since the Liberals started sitting around the fire waiting for the hunters and gatherers to bring them their free meals things have gone downhill.

 

[alwaysfishn]

Spoken like a true Liberal. The rich get richer while they screw the rest!...sammy

And if it wasn't for those "rich" who do you think would provide the jobs in this province? You need to connect the dots before you make statements like that.

Small businesses create the majority of the jobs in BC. (over 1 million) Everyone of these business people saved their money, invested it and as a result are able to make a good living and provide good jobs for a lot of people that didn't have the courage or the smarts to do the same thing.

I think they deserve to get some sort of reward. That's not a Liberal statement, that's a comment from someone that believes that the harder you work and the smarter you work, the greater the reward. It's what this country was built on.

 

[alwaysfishn]

Here's the latest from StatsCanada. BC has the second lowest rate of inflation in Canada. That means our prices have risen the second least, in spite of the HST.

Looks like those rich businesses are not pocketing the savings... they are actually passing them on to the consumer.

May 2011 12 month inflation rates:

Canada 3.7
Newfoundland and Labrador 3.7
Prince Edward Island 3.9
Nova Scotia 4.6
New Brunswick 4.1
Quebec 3.5
Ontario 4.0
Manitoba 3.9
Saskatchewan 3.4
Alberta 2.8
British Columbia 3.1

 

[alwaysfishn]

I think using inflation rates is a very valid way to disprove the anti-HST argument that businesses are not passing on PST savings and that the HST has increased costs more to BC consumers than provinces like Manitoba and Sask who still have the PST.

If the inflation numbers for BC were the highest in Canada, can you imagine how the anti-HST crowd would be crowing about how the HST is killing BC?

 

[Islandgirl]

Here's the latest from StatsCanada. BC has the second lowest rate of inflation in Canada. That means our prices have risen the second least, in spite of the HST.

Looks like those rich businesses are not pocketing the savings... they are actually passing them on to the consumer.

May 2011 12 month inflation rates:

Canada 3.7
Newfoundland and Labrador 3.7
Prince Edward Island 3.9
Nova Scotia 4.6
New Brunswick 4.1
Quebec 3.5
Ontario 4.0
Manitoba 3.9
Saskatchewan 3.4
Alberta 2.8
British Columbia 3.1

Second lowest inflation rate because no one is spending..
No one can afford to spend since we are now paying ANOTHER TAX. That money must come from the family budget, the gas bill, eating out etc. the discretionary income.

How may of us can go to our employer and say "gee I need another 7% in my wages, or on at least half my wages to pay for the extra tax I am now paying"
That money now given to the government must come from somewhere..it comes from discretionary income.

 

[alwaysfishn]

Second lowest inflation rate because no one is spending..
No one can afford to spend since we are now paying ANOTHER TAX. That money must come from the family budget, the gas bill, eating out etc. the discretionary income.

How may of us can go to our employer and say "gee I need another 7% in my wages, or on at least half my wages to pay for the extra tax I am now paying"
That money now given to the government must come from somewhere..it comes from discretionary income.

Inflation rates are a comparison of a basket of goods priced today, versus the price of that same basket of goods a year ago.

It has nothing to do with what people are spending.

 

[sammyslabber]

Here's an interesting tidbit re:HST referendum ballot ...not only was the wording on the ballot misleading...but once you vote & put the ballot in the privacy envelope... hold the envelope up to the light you can see how you voted it's totally transparent(unlike the Goverment)...fold your ballot & it'll remain unseen...sammy

 

[SerengetiGuide]

Since when did responding to a post become "trolling"?

Seems to me you guys are just chirping this guy because he has an opposing view to you, and he is actually showing evidence to prove his case and yet no evidence from anti hst side...read the links he's sharing and you will easily see the hst actually is much better than the combo gst/pst and especially since it will be lowered to 10%

 

[SerengetiGuide]

Economics 101, one of first things i learned in my economics courses is taxation of consumption is much better than taxation of income.

 

[alwaysfishn]

Seems to me you guys are just chirping this guy because he has an opposing view to you, and he is actually showing evidence to prove his case and yet no evidence from anti hst side...read the links he's sharing and you will easily see the hst actually is much better than the combo gst/pst and especially since it will be lowered to 10%

It's a lot easier to prove the benefits of the HST when all the opposition has is "chirping".

 

[SerengetiGuide]

Yet to see any facts that gst/pst at 12% is a better way to go...if I don't see any soon, I certainly know how I will be voting...all those on here that are anti hst, other than "it makes families pay" and other sentences that have yet to be proven, where are the facts that show its bad for BC? Yes, the way it was implemented was but fact of the matter is it is good for BC...don't punish both yourself and the province because of the way Gordon Campbell implemented the tax...jeepers

 

[sammyslabber]

S.G, only after they put the screws to her(Cristy Clark) did she mention maybe she would lower it to 10% (2013)Ha pre election promises...ya i bet you also believe in the tooth fairy...sammy

 

[Islandgirl]

Inflation rates are a comparison of a basket of goods priced today, versus the price of that same basket of goods a year ago.

It has nothing to do with what people are spending.

Oh yes it does.. supply and demand that is what our social system is based on.. What do you think makes a stock or commodity go up?
More people want to buy than sell.. What makes it go down..more sellers than buyer.. You can see that every day in the realestate market. When prices go up there is inflation, due to more buyers than sellers.


Oil went down last week because the the US announced that it will tap into 60 milllion barrels of emergency oil reserve ro replace lost lybian oil production. Greater supply price goes down.
http://www.nytimes.com/2011/06/24/business/24oil.html
Basic IMHO

 

[Gunsmith]

Economics 101, one of first things i learned in my economics courses is taxation of consumption is much better than taxation of income.

We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
Sir Winston Churchill.
I think the government thinks that both are good for them.

 

[Steelhead S2]

SG: what reasons did your profs give as to why consumption taxes are much better than income tax, or if that is your own conclusion, based on what?

I don't have an academic background in economics, and my opinions on taxation are informed by a range of considerations, from personal interest to social justice.

Still and all, pst/gst and hst are all consumption taxes, right? The difference is who pays what share, and with the hst I pay the full share and business pays zip?

 

[NautiGirl]

"I pay the full share and business pays zip" you say? Do you know what "restricted input tax credits" are? Large business will not be able to claim back all the provincial portion of the HST paid.
See restricted input tax credits at http://www.cra-arc.gc.ca/E/pub/gm/b-104/b-104-e.html
Corporations will not get the income tax cut promised.
You however would get a cheque for $175 for each kid you have, a drop in sales tax to 10% from 12%, and the personal tax rate is not increased for you.