198165
193885
Economics-101

New boss same as the old boss

So Kelowna has selected a new city council and we can look forward to “change”. It amazes me how politicians cling to the word change when they are conducting election campaigns. Politics is as distant from the word “change” as the Mafia is from the word “peace”. So one of the first official acts of our new, shiny, going to bring about change, power to the people city council is……wait for it…..A Tax Increase!! Oh what a shocker. I never saw that one coming. Of course we have to finance the building of a $48 million new police station. Why not? The rest of the western world is militarizing their police force, why not Kelowna? Of course this is being forced upon us by the federal government who know that Canadians are soon going to rebel against the direction this county is taking as well as a global financial meltdown. We’ve got to keep those citizens in line.

The entire percentage based taxation system determined by the value of the property is corrupt to begin with. If property values increase, it does not mean that garbage collection costs increase. This is a pure windfall for the government. Only a government could come up with this scam. This puts Bernie Madoff to shame. Let’s not forget the fact that property values have doubled and in some cases tripled in the past 15 years in Kelowna. As a result, tax revenues have double and tripled. So what happened to all of this additional money stolen from the property owners? To add salt to the wound, property taxes have also increased every one of those past 15 years. What the hell is going on here? I’m looking at my property assessment notice and it shows that the value of my property has increased by 14% over the past year. So without a tax hike I will be paying more taxes already. So I’m being double taxed as city council has approved a 3.41% additional tax increase. Thanks a million new city council. You guys are a great improvement from the last mob of tax grabbers.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.



More Economics 101 articles

194156
About the Author

Derrick Nicholson is a Currency Strategist. He has been in the industry for the past 20 years, and specializes in mitigating currency risk for companies doing business outside of Canada.

Questions and inquiries can be directed to Derrick at [email protected].

 



194156
The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

Previous Stories



198148