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Cold Tax Numbers for Those Hot Summer Days

Author: Walter Robinson 2001/06/24
With MPs back in their ridings and the daily circus of Question Period thankfully postponed until September, it's time to catch up on some exciting (yawn) government document reading.

Without fail, as reams of government and other publications are skimmed, certain numbers of peculiar taxpayer interest jump off the pages. Here a just a few of the cold tax numbers for your hot summer days.

$95 billion -- This is the amount of money we spend each year on public and private health care in Canada. Not to say that this is a waste, but given the fact that over 70% is public spending, you'd think we'd know what we're getting for it. Problem is, we don't. National waiting lists, or surgical outcomes analysis, just to mention two measures, are nowhere to be found.

$42.2 billion - According to last October's Economic Statement, this was the budgeted amount for debt interest payments for 2000/2001. It represents 24.4 cents out of each tax dollar collected. Debt interest is the single largest annual expenditure of the Government of Canada.

$24.3 billion - Transfers to elderly benefits programs - far behind debt interest as the second single largest expenditure of the Government of Canada.

$7.23 billion - Amount of surplus accumulated in the Employment Insurance account for fiscal 1999/2000. That's $7.23 billion in overpaid payroll taxes.

$3.5 billion - According to Sun Media, Industry Minister Brian Tobin recently issued 26 news releases in 17 days with an estimated expenditure price tag of $3.5 billion. Can you say the most expensive Liberal leadership campaign in Canadian history

$2.45 billion - According to the Public Accounts, Ottawa transferred this amount of money to "Industry" in 1999/2000. Included in this total, $696 million for corporate welfare initiatives from Industry Canada and another $435 million from HRDC for, no doubt, a variety of job-creation (aka boondoggle) schemes.

$115.6 million - The amount of money Canada spends each and every day on debt interest payments for our $565 billion national debt.

$10 million - The extra amount that MPs and Senators will now earn annually (a conservative estimate to be sure) after MPs voted themselves a 20% pay hike with a consequent 42% back end pension adjustment. The Prime Minister made off with a 42% pay hike and an estimated 82% pension hike if he sticks around for another five years.

$4.8 million - The amount of money Canada spends each and every hour on debt interest payments.

$615,000 - The amount Ottawa gave to Montreal-based Groupaction Marketing to determine if the feds were getting their money's worth from - the same company.

$80,289.19 - The amount of money Canada spends each and every minute on debt interest payments.

1,351 per cent - The increase in all taxes paid by the average Canadian family since 1961, as calculated by the Fraser Institute. When one accounts for inflationary effects, this increase still clocks in at a whopping 140 per cent.

$1,338.15 - The amount of money Canada spends each and every SECOND on debt interest payments.

488 - By the end of June, it will 488 days - and counting - since Paul Martin tabled a budget in the House of Commons. The last budget was tabled on February 28, 2000.

A Note for our Readers:

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Franco Terrazzano
Federal Director at
Canadian Taxpayers
Federation

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