EDITORIAL: Here comes the tax, man

Be prepared for taxes to rise, despite challenging economic times

The Canadian Centre for Policy Alternatives released a report this week that says if the province returned to 2000 tax levels it could wipe out the deficit, estimated at $1.47 billion, in one year.

That’s something to think about.

B.C.’s finances are tight because of several cuts to both personal and business taxes that have thinned the budget steadily over the last decade. If the province collected the same amount in tax revenues as it did in 2000, it would have $3.5 billion more in public funds, no deficit, and the ability to invest in enhanced and even new public services.

While raising taxes doesn’t sound like a great idea on the surface, there is no evidence that lower taxes have stimulated our economy. In fact, the opposite appears to be true.

When the Liberals came in they gutted the public service and got the province out of the red. But the economy was in a different place then. At the time our resources were selling well globally, the U.S. housing market was booming and the economy was generally in good shape.

Where our taxes come from has altered, too. We are taking less from corporations and more from families, less from higher income earners and more from the middle class.

British Columbians now have to decide what they value more: services or disposable income  – or find a balance between the two.

Experience says cut taxes to create jobs, but in poor economic times governments are not anxious to take those kind of risks.

Whether we have a Liberal, NDP or other government, tough decisions on taxation are going to have to be made.

A huge deficit is a job killer. It leads to consumer pessimism and an economic slow down.

Raising taxes will not be an easy sell for any government, but we may have no other choice if we want to see services maintained.

Just Posted

Carey Newman resigned from the Greater Victoria School District’s Indigenous Ad Hoc Committee May 13, citing ‘a pattern of systemic racism.’ (Black Press Media file photo)
‘Pattern of systemic racism’: SD61 Indigenous committee member resigns, calls for change

More than 350 people had added their names in support by midday Friday

Comedy balloon artist Mike Dada of Sidney hands two-year-old Mila Yiau a balloon flower as she holds the hand of her mother Hannah Liao at Sunday’s street market in Sidney. (Wolf Depner/News Staff)
Sidney Street Market parks in temporary location for 2021

Market open Sundays at Mary Winspear parking through Oct. 10

Commonwealth Place recreation centre was shut down before 8 a.m. on Friday following a power outage. (Saanich Parks, Recreation and Community Services/Twitter)
Saanich Commonwealth Place closed due to power outage, outdoor classes still running

Indoor classes, programs at pool and weight room halted

The Greater Victoria School District continues to face backlash over its wording and approach to Indigenous learners in its 2021-2022 budget talks. (Black Press Media file photo)
School district’s approach to Indigenous learners leaves Victoria teachers ‘disgusted’

Backlash grows over ‘pattern of colonial thinking permeating the leadership’

Royal Bay Secondary School students paint the crosswalk in front of their school in support of LGBTQ and marginalized members of the community (Royal Bay Secondary School photo)
Senior student leaves mark at Royal Bay Secondary School for LGBTQ+ students

Crosswalk at Colwood school painted in support of marginalized community members

Prince Rupert was one of the first B.C. communities targeted for mass vaccination after a steep rise in infections. Grey area marks community-wide vaccine distribution. (B.C. Centre for Disease Control)
B.C. tracks big drop in COVID-19 infections after vaccination

Prince Rupert, Indigenous communities show improvement

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of May 11

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Chief Public Health Officer Theresa Tam listens to a question during a news conference, in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Restrictions will lift once 75% of Canadians get 1 shot and 20% are fully immunized, feds say

Federal health officials are laying out their vision of what life could look like after most Canadians are vaccinated against COVID-19

Police are at Ecole Mount Prevost Elementary but the students have been evacuated. (Kevin Rothbauer/Citizen)
Gardner finds buried explosives, sparking evacuation of Cowichan school

Students removed from school in an ‘abundance of caution’

A COVID-19 patient receives oxygen outside a hospital in Jammu, India, Wednesday, May 12, 2021. (AP/Channi Anand)
B.C. donates $500K to Red Cross COVID-19 relief efforts in India

The money will provide oxygen cylinders and ambulances for patients in communities grappling with the virus

Superintendent Aaron Paradis, community services officer with the Surrey RCMP, during a media availability about a recent drug bust in Port Coquitlam. (Photo: Lauren Collins)
Police seize 13 million ‘potentially fatal doses’ of pure fentanyl at B.C. drug lab

The evidence was seized at large, illicit drug manufacturing site in Port Coquitlam

B.C. Public Safety Minister Mike Farnworth debates the province’s latest measure to control crime, March 10, 2021. The legislation allows police to impound vehicles used to transport weapons and further restricts sale of vehicle and body armour. (B.C. legislature video)
B.C. seeking ways to ‘name and shame’ gangsters, minister says

Mike Farnworth appeals to family members to talk to police

Jonathan Prest had to climb way up to the top of a dead red cedar tree to rescue a terrified cat, but he made it up and down successfully. (Facebook photos)
Tree cutter rescues cat stuck 100 feet up a dead and dried-out cedar

Jonathan Prest put himself in extreme peril to get a terrified cat out of a dangerous situation

Most Read