For the first time in recent memory the two leading political parties in a federal election are trying to out bid each other in tax cuts. Why Because the parties' polling results show Canadians are fed up with high taxes and they will keep this in mind when they go to the ballots.

In the tax cut battle, the Canadian Alliance was the first out of the barracks. Leader Stockwell Day took to high ground casting a 17% single tax and a generous $10,000 basic personal exemption at his Liberal opponents.

The Alliance then pounced on the Liberals for developing "spending of mass destruction." The $3 billion wasted in the HRDC jobs fund could have gone a long way in further tax relief. Liberal casualties piled up.

Not to be out done by Stock's New Model Party, the Liberals regrouped and charged back. Paul Martin, the seasoned Liberal general reached into his tax cuts arsenal and hurled back a 16% tax cut for income earners below $30,000 but didn't return fire on the basic personal exemption.

The Liberal's proposed $100 million tax cut package represents a stunning turn of events. Not long ago, tax relief was written-off by the Liberals as a fringe issue pursued by greedy Canadians. Never did it occur to them that Ottawa had a near monopoly on greed.

Every two weeks Canadians are reminded of government's greed whenever they look at their paycheque stubs and watch as on average 40% of their income dissolves into the abyss of federal and provincial income taxes and payroll taxes. Lest we forget that Canada Pension Plan premiums are still rising.

Despite the endless economic indicators that point to the devastating impact of high income taxes, there is still a cadre of 1970-style socialist throwbacks who profess to know what's best for you and how your money should be spent. For the tax-grabbers, the sky is the limit on your paycheque.

Some provinces have returned wealth from whence it was created and have made a fortune doing so. Between 1994 and 1999, Ontario slashed personal income taxes by 32% and collected an additional 36% in total tax revenues. The provinces that cut taxes the most over the same period reaped the highest returns in total tax revenues. Coincidence or conspiracy

The hewers of tax rates and the drawers of tax revenues know something the spendthrifts have overlooked - namely, that the goose that lays the golden egg will squawk if too many feathers are plucked.

For the undecided reader on the merits of tax cuts, select a vision of the future: A. The way things were - a $590 billion debt, $40 billion annually in debt interest payments, rising taxes fueling the brain drain as the Canadian dollar continues in a steady tailspin. Or, B. The tax cut option: A bustling economy with record high tax revenues available for a combination of more tax relief for Canadian families, debt repayment and investment in health and education.

Can it get any simpler than that