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PST cut is half-baked

Re: Liberals plan to reduce PST

So, the BC Liberals want to cut PST. Why is this a problem? Well, let's talk about tax rates in BC. 

PST is mostly paid by the wealthy, who buy luxury items like yachts, expensive clothes and so on.

PST Exemptions already include,

- Food for human consumption (e.g. basic groceries and prepared food such as restaurant meals)
- Books, newspapers and magazines.
- Children-sized clothing.
- Bicycles.
- Prescription medications and household medical aids such as cough syrup and pain medications.

So the PST cut would barely be noticed by working people, those currently struggling to pay for rent and food. But the cut would be worth millions to the rich.

As well it would remove between $5 billion and $10 billion from the BC government's revenue stream. The Liberals wouldn't admit it, but this would require major cuts to social services across the province. There is a name for this: "trickle-down economics," or "neoliberalism". 

In fact, this move is meant to roll back the NDP's efforts to make the rich pay their fair share in taxes. (LINK: "Reality Check: Only the rich paying higher tax rate" https://www.policynote.ca/tax-fairness/)

The last time the BC Liberals were in power, they raided ICBC funds and cut benefits to the disabled in order to pay for their giveaways to the wealthiest British Columbians. What will they cut to pay for this one?

More money for the rich, austerity for everyone else. It has failed everywhere it has been tried. In a pandemic, it would be disastrous.

This PST cut is half-baked and poorly thought out. It contains a number of hidden traps that will be obvious once implemented. I hope British Columbians are smart enough to know a bad idea when they see it.

Marcus Henry Weber, Kelowna
 



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