So we are getting an income tax cut

Our fearless Provincial Premier Gordon Campbell announced last night that there will be a 15% income tax cut in the province starting January 1, 2011.  For incomes over $72,000.00 according the Vancouver Sun it will amount to about a $650.00 per year savings.  woohoo.

Now after I factor in my increased medical premiums, the extra tax I pay in terms of HST, I might be maybe $20.00 per month ahead.  I will get two free trips to Subway per month, woohoo.

It reminds me of a time I went to a BC Chamber of Commerce luncheon in 2002.  Gordo had just become premier.  He announced an income tax cut and he got major cheers.  Of course, most there didn't factor in he had also quietly doubled our medical services plan premiums.  I received about a $300.00 per year income tax cut but my medical premiums went up $360.00.  That day they only accepted written questions so they could be vetted.  I wrote out question asking how I was ahead after the cut and increase.

Three guesses as to whether or not that question got through the vetter and the first two do not count.

I know most economists agree that consumption taxes are better than income taxes in that they are more fair.  Under an income tax, you tax everyone, rich and poor.  Consumption taxes only nail people like me who are spendthrifts, cheap asses get away without paying tax.  In effect, my trips to Subway, McDonald's, Taco Bell etc at lunch are paying for roads the brown baggers are using. 

I get it, I should reign in my spending but hey, the more you make, the more you spend right?  However, please Gordon, don't piss on me and tell me it's raining.  You are giving to me with your left hand but taking it from me with your ten right hands. 

So much for honesty in government.