Jobs and Economy
Dalton McGuinty: Bankrupting Ontario(Queen's Park Report - April 9, 2009) The 2009 McGuinty budget has set the sort of records that should send shivers down the spine of every Ontarian. With this budget, Dalton McGuinty crossed three thresholds: he brought in the largest deficit in our history, has doubled the provincial debt and instituted the largest tax grab ever. This budget is truly one for the history books.
Even though Mr. McGuinty saw government revenues grow by over $20 billion since he took office, he still managed to double the provincial debt to $200 billion. To be clear, in six years he spent $100 billion more then he had, which is costing us $11.1 billion per year in interest alone. That amounts to a million dollars an hour for every hour of every day, 365 days per year, just to service the provincial debt.
The real highlight of the budget though is the new 'Dalton Sales Tax.' That is the new 8% retail sales tax that he is going to slap on everything from haircuts to the family dog starting on July 1, 2010.
Let me demonstrate the magnitude of this new tax by giving you some examples. Take your morning coffee. Say you start every day with a large cup of coffee that costs $1.45. That amounts to $529.25 in coffee each year. Add Dalton's new 8% sales tax and your morning coffee just went up by $42.34 per year.
Consider cable and internet fees. Right now I pay about $86 per month for basic cable and high speed internet. That amounts to $1032 per year. Add Dalton's new 8% sales tax and the cost for basic cable and internet just went up by $82.56 a year. And if you have a cell phone, get ready for higher bills. Dalton's sales tax will apply to that too.
If you buy gas for a car you will get dinged also. If you spend $360 a month on gas, amounting to $4320 per year, be prepared to pay $345 more per year to Dalton McGuinty for his new sales tax.
The cost to heat your home will even go up. Take a 1,200 square foot home in Collingwood on equal billing at $130 per month. Right now it costs you $1,560 per year to heat your home. Enter Dalton McGuinty. With his new sales tax, you'll pay an additional $124.80 just to heat your home.
The list of things that will cost more goes on and on. It includes: fast food under $4, electricity, newspapers, magazines, stamps, theatre admissions, footwear less than $30, home renovations, gym fees, audio books for the blind, funeral services, snowplowing, air conditioning repairs, commercial property rentals, real estate commissions, dry cleaning, car washes, manicures, Energy Star appliances, vet bills, bus fares, golf fees, arena ice rentals, moving vans, grass cutting, furnace repairs, domestic air travel, train fares, tobacco, bicycles and legal services. It doesn't even end there but I have no room left in this column to continue.
As you can see, Dalton McGuinty is not only bankrupting the provincial treasury, he is also doing his best to bankrupt you and your family. In all my years I have never witnessed such a devastating budget for consumers and so I urge you to fight with me against these taxes by signing my online petition against them at www.jimwilsonmpp.com.