Stephen Harper claims “The NDP, it's far from clear where they would get all this money to spend billions and billions of dollars at a time of economic uncertainty.”
Harper’s tax cutting agenda is far more costly than New Democrat proposals.
| 2007- 2008 |
2008- 2009 |
2009- 2010 |
2010- 2011 |
2011- 2012 |
2012- 2013 |
Total | |
| Corporate Tax Cuts |
$1,100 | $5,400 | $7,300 | $8,700 | $10,900 | $14,200 | $47,600 |
| Diesel Tax Cut |
- | - | $600 | $600 | $600 | $600 | $2,400 |
| Business Tax Cut |
- | - | $55 | $55 | $55 | $55 | $220 |
| TOTAL | $50.2 billion |
As economists note:
“If anything, the Harper tax cuts emulate a U.S. Republican ‘starve the beast’ strategy, in which tax cuts deplete surpluses, and deficits are fought by spending cuts — precisely the opposite direction that is required. This approach would only worsen the core economic problem and would do double damage by worsening inequality.”
– Economist Marc Lee, “How Resilient is the Federal Budget to an Economic Downturn?” Canadian Centre for Policy Alternatives, January 2008., p. 6.
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