Campbell Tax Holiday

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Why Campbell’s Tax Cuts Failed

The first thing Campbell did when he got into office was give a 1.5 billion dollar tax cut, most of which went to British Columbia’s wealthiest citizens. Surprise. Now the financial genius is racking up the biggest deficit in BC history.

He knew perfectly well this would not stimulate the economy because the Americans had tried this trickle down voodoo economics several times before and it never worked.

Why didn’t it work in BC either? When you take from the poor and give to the rich, they invest it where they can get the highest return. Unfortunately, that is not here in BC. The tax cut money simply flowed out of BC doing absolutely nothing to stimulate the BC economy.

For stimulus spending to work, the money must do two things:

  1. stay in BC.
  2. create jobs in BC.

Instead of ending the tax holiday for the rich, Campbell chose to slash government services and slash jobs.

I have an idea to help Campbell balance the budget that won’t result in layoffs. Campbell receives in $160,000 salary and perks, not including his ample expense account and contributions. Perhaps he would be willing to take a pay cut the way he expects everyone else to.

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