In the spirit of Canada Day the newspapers are full of quizzes about Canadian history and trivia around this time of year. To contribute to our country's self awareness we have devised our own form of Taxpayer Jeopardy, modeled after the popular TV game show.
Are you ready to play Good. Remember you will be given the clue and must answer in the form of a question. And then I, acting as your quizmaster, may throw in the odd editorial comment - just like AlexTrebek.
Clue: He once called payroll taxes such as EI and CPP premiums a "cancer on jobs."
Answer: Who is Finance Minister Paul Martin
In 1995 the Globe and Mail reported that Paul Martin called payroll taxes a "cancer and jobs." Fast-forward to 1997 with CPP premiums set to hike by 73% over the next six years and to 1998 with the EI account running a $15 billion surplus and it is easy to see that Mr. Martin now suffers from selective amnesia and does not recall his opposition to payroll taxes.
Clue: This phenomena ensures that Paul Martin and ten provincial finance ministers continue to raise our taxes without paying any political price for annually picking our pockets.
Answer: What is hidden taxation commonly known as "bracket creep "
Income tax brackets are not indexed until inflation reaches 3% per year. Since 1992, the annual inflation rate has not exceed 3% therefore Canadians who have been fortunate enough to receive raises to keep pace with inflation have been pushed into higher tax brackets. What is even more troubling is that the Liberal dominated Commons Finance committee estimates that 840,000 low-income Canadian families were pushed onto the tax rolls between 1985-1995 due to bracket creep.
Clue: This group of people spends more of their earnings on personal taxes than anything else.
Answer: Who are Canadian taxpayers
In February Statistics Canada noted that Canadians spend 22 cents of each household dollar on personal taxes compared to 17 cents for shelter and 12 cents each for food and transportation.
Clue: He said "It is a paradoxical truth that tax rates are too high and tax revenues are too low, and the soundest way to raise revenues in the long run is to cut the rates now."
Answer: Who is the late John F. Kennedy
In 1962 Kennedy made these remarks before the New York Economic Club. Kennedy's tax cuts program resulted in an increase of revenues by 16% from 1963 to 1966. President Reagan's tax cuts in the '80s resulted in a tax revenue growth of 28% (adjusted for inflation). Runaway spending, particularly in defense and housing and urban development resulted in U.S. deficits, not tax cuts. Even here in Canada, provinces such as New Brunswick, Alberta and Ontario have cut taxes, watched their revenues grow and their economies flourish.
Clue: His address is Room 515-S, Centre Block, House of Commons, Ottawa ON, K1A 0A6. Phone: 613-992-4284. Fax: 613-992-4291. Email:
[email protected].
Answer: Same as clue #1, Paul Martin.
Now it's time we stopped playing games and contact the Finance Minister to demand real and immediate tax relief.