Friday, May 21, 2010

HST - are there any economists against it?

I have been reading all the info I from the people opposed to the HST and I have yet to find any serious economic arguments why it would be bad.

Based on all the evidence out there we should see

  1. 10,000 more people per year will be working, this will bring in about one third of a billion dollars in new employment income each year for at least the next decade
  2. 10,000 employed people each year will reduce welfare rolls and will increase the economy
  3. Capital investment by business will increase by about one billion dollars a year, this will increase our productivity which is something that Canada has been crap at for the last generation
  4. You will have to be earning more than $80,000 a year to be certain to paying more in taxes than you do now
  5. It will be virtually impossible for someone earning less than $25,000 a year to pay more with the HST

I have yet to see any data out there to indicate that the HST will be anything other than financially beneficial for us in BC.
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