Business News from Canada
My wife and I just returned form our three-week visit to Ontario, Canada. It was great. We always learn through comparison and the many wonderful people we meet.
To our surprise, the federal government of Canada passed a 13% national sales tax on all goods, services across the entire country in July of this year. It was sticker shock for us, although we travel to Toront on average twice yearly.
The vendors, e.g. our motel managers, were reeling from the added costs and unhappy about the tax. Protests were starting in British Columbia, but we could not find out from anybody why the government passed this huge increase.
Here are some thoughts. 1) It needed the money to sustain its bloated bureaucracies. 2) It needed the money to keep the country in the "black" and not destroy its currency, which ranks now with the Swiss franc for value.
Your humble servant here can live with reason 2.
In addition, he mentioned to the different Canadians with whom he discussed the tax that we in the US are facing a similar national VAT (value added tax) to prop up the regime on Wall Street and its related partners in Washington. This is why I am sharing this piece of information with you. We still have time to weigh the merits of such a tax increase, if any.
Dr. Rux (M.A., Canadian History, University of Toronto)
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