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Monday, September 22, 2008

Return to Trudeaumania: tax and spend Grits at it again

This morning (Monday, Sep 22, 2008), Liberal Party leader Stéphane Dion unveiled his party’s platform.

Some highlights (Remember Dion has already—up to last Friday—announced $80 billion in spending.):

  • Restore contingency fund: $12 billion over four years
  • Eliminate tax on income trusts
  • Carbon tax of $40 billion—off-set in lower income tax, e.g., $1,300 for families earning $60,000 a year
  • Reallocation between existing programs—$12 billion cuts over four years from existing programs to fund new ones—no specifics
  • Kelowna Accord $2 billion—$5 billion promised originally

Not since the days of Pierre Elliott Trudeau have we seen the tax and spend philosophy of the Grits taken to such excess. Remember those years?

  • Wage and price controls (Trudeau broke an election promise to implement these controls);
  • Mortgage rates of 20 per cent plus;
  • Fixed-income seniors financially ruined because of runaway double-digit inflation;
  • Trudeaumania: a decade that saw huge government deficits, high taxes, massive government spending, a worsening economy and burgeoning national debt.

I lived through the Trudeau era and have no wish to see its return. Socialism is a miserable failure around the world, yet Dion wants to bring it back here. No thank you.

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