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Canadian Deficit

Updated on February 22, 2018

Tax Time

Good Morning Canada!! (And a Hardy Welcome to those Elsewhere)!

It's getting close to that time of year again, where we all 'pony up' and do our Income Tax. Yep, a Spring Time thrill to be sure, but let's take a look at some hard numbers.

2017-2018 bring some interesting numbers to light as we fill in our forms, as we cross our fingers that we don't owe anymore, than we have already paid, and most of us hope for that 'free money refund'. (Refund= you paid too much, and the Government is going to give it back to you. Not 'free', just refunded).

So let's take a look at some of our tax dollars, and how it is spent. Where is this money going, and where isn't it going?

Deficit of $685 Billion

Canada's Deficit going into 2018 is at a whopping $685 BILLION!

Why? Well, let's take a look:

Bombardier owed $2.2 Billion BEFORE the $372 Million interest free loan it was given. (After a reported loss of $4.9 billion in 2015). After Executives' received their raises, and bonuses, they had to cut 14,500 jobs just to make ends meet.

Canadian Broadcasting Corporation receives $1 billion per year in federal funding. They also have just been given a $675 Million dollar bailout.

The Canada Centre for Community Engagement & Prevention of Violence will be funded with $35 Million. What is this program for? Repatriation.

Our Government is also spending $13.7 Million on Social Media Advertising.

And then there's Bill C-45. The 'Push for the Kush' Bill. I, personally, am not for, or against marijuana, I just have issues with how this legalization process has been done... and what it's going to cost. Cost, you ask? Yep, $676 Million, up in smoke, to change laws, policing the distributors, and devise impaired driving laws.

This is a small tip of a large ice berg.

Let's see what we can't afford, according to our illustrious leader(s).

Middle and Low Income Brackets

Depending on your region, the Median Middle Class Income is reported to be $33,000 to $130,000. This makes Average Family Income in Canada $81,500 before taxes.

42.5% of your income is going into taxes (Federal/ Provincial/Municipal). 33-39% of that is Federal.

At 33% that means, if you are making an average income, you are paying $26,895 to the Federal Government in taxes. That makes your take home $54,605.

Low Income threshold in Canada for a family of 4 is $41,568.00 / per year.

Poverty Line in Canada $23,861.00 / per year.

So where do our Veterans, Seniors, and Disabled stack up in this?

A veteran, permanently disabled, in action, with a family of 4 receives $49,484.16 per year. Just barely above Low Income Threshold.

A person on CPP Disability $14,023.56 per year.

A senior on CPP / OAS receives $11,451.60 - $13,629.96 per year. That's $10,000 BELOW poverty. (Side note: Most Canadians will never see the bulk of what they, personally, have put into CPP, and the average cost of care in a facility is $5430.00 per month, this is not covered by the Government).

Veteran questions PM

Before Moving On

Before I wrap up, I'd like to thank our Veterans. You were called to duty, and you went. I apologize that the Government of Canada has taken the stand that it has, and support your efforts in gaining better funding.

Let's Ponder This

At present, these numbers mean this: with a Deficit of $685 Billion... EVERY man, woman, and child owes an additional $18,765.00 dollars. (Add this to your Federal Tax bill). And that's just to clear up this debt.

How can bailing out Bombardier, and the CBC, be "of benefit to all Canadians", as our PM has been reported saying.

How can we spend money on a 'repatriation' program, when our own Veterans are ignored? The Prime Minister, is on record, saying "there is NO money for Veterans".

How can we 'Push the Kush', when a number of our Seniors are just scraping by?

Just in these numbers presented, I have found $1.77 Billion that could be used for the betterment of Canadians.

Is the Current Liberal Governement Spending Out of Control?

See results

Tax Dollars

Should Canadian Tax payers have more of a say in distribution of money spent?

See results

© 2018 Shaunna Jones Leclair

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