June 17, 2006
Tax Freedom Day Arrives Monday
Tax Freedom Day Arrives Monday – More Evidence Canadians Remain Over-taxed
And StatsCan Reports Total Government Surpluses Hit $26-B in ’05
The Only “Fiscal Imbalance” is Between Governments & Taxpayers
Ottawa: The Canadian Taxpayers Federation (CTF) today responded to news from the Fraser Institute that Tax Freedom Day for Canada will occur on Monday, June 19th. Tax Freedom Day is the day of the year when taxpayers finally start working for themselves after paying the total tax bill imposed on them by all governments. The original release and calculations are available at: www.fraserinstitute.ca.
“Canadians this year will work 169 days to feed the appetite of all three orders of government, chewing up 46 per cent of average family income,” stated CTF federal director John Williamson. “Government officials insist broad-based tax relief just isn’t possible. Yet millions of Canadians recognize our politicians don’t tax to collect the money it needs, instead governments always find a need for the money it collects. Isn’t it time the requirements of taxpayers were given a higher priority?”
Statistics Canada reported on June 15, 2006, that the combined surplus for all Canadians governments was $26-billion last year (2005/06 fiscal year), the second highest level in 20 years. Governments collected revenues of $572.9-billion in taxes and spent $546.9-billion. The agency found “revenues were up 6 per cent, outpacing the 4.1 per cent gain in spending.”
“This is evidence governments of all political stripes are taxing Canadians too heavily. The StatsCan figures are based on ’05 data. The fiscal forecast for the current year is even rosier, meaning total tax revenues flowing to governments will continue to grow,” noted Mr. Williamson. “Politicians just don’t get it. If taxes cannot be reduced when Tax Freedom Day is arriving on June 19th it signals Canadian governments have a spending problem, not a revenue problem. When will this imbalance be fixed?”
John Williamson
Federal Director
Canadian Taxpayers Federation
Posted by John Williamson, Canadian Taxpayers Federation [permalink]
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