Trudeau's $250 Tax Rebate
A $250 Band-Aid on a Trillion-Dollar Wound
The Canadian government under Prime Minister Justin Trudeau has announced a $250 tax rebate for approximately 18.7 million Canadians. While this move has been framed as a financial relief measure, it raises questions about fiscal responsibility, economic strategy, and political motives.
Around 18.7 million Canadians are eligible for this rebate. The initiative will cost an estimated $4.675 billion. This money comes from you, essentially redistributing your tax money back to you (if you’re lucky) and others.
According to the federal government's financial update for 2023-2024, Canada's budget deficit was projected at $40 billion, though the Parliamentary Budget Officer estimated it closer to $46.8 billion. The Canadian Taxpayers Federation reports that Canada's federal debt stands at approximately $1.241 trillion.
This $250 rebate is a form of vote-buying, especially since the hand-outs are funded by increasing government debt or through money printing. While providing short-term relief, the long-term effect will be an increase in inflation.
Why are we in this mess? Why does Trudeau feel the need to give us some tax money back? We have some broader economic issues. High taxes reduce Canada's competitiveness for investment, so companies are less likely to create factories or businesses in Canada. The government has a bloated bureaucracy and welfare costs add to fiscal strain. As well, restrictions on energy production alongside high energy taxes contribute to rising costs.
As bad as those problems are, they aren’t the biggest problem. The root cause of Canada's economic woes is the expansion of the money supply. This has been a tool used by governments and central banks globally to stimulate economies - so they say - but look at what it’s done! It's the primary driver of inflation!
Among political parties, the People's Party of Canada has explicitly stated intentions to tackle these issues by withdrawing from agreements like the Paris Accords, removing carbon taxes, and focusing on policies that make energy more affordable. This would help curb inflation and the need for such rebates.
More importantly, the PPC is the only federal party aiming for 0% inflation, going after the root cause of it: money printing.
The $250 tax rebate might seem like a boon in the short term, but Canadians need to realize that money printing is the disease that is killing our economy. Tax relief, although welcome, is only a small band-aid on a trillion dollar wound.
Learn about the PPC platform and what it will do to make Canada better!
When I was a kid in the mid 1970s, I got a dime every Wednesday to spend at the variety store. I got a pop, bag of chips and hockey cards. Then one year later my Dad gave me a quarter to buy the same things. Well, it has just kept on rolling. These governments keep printing and handing out money, and they are bankrupt. It will never, ever get paid back and these government crooks don’t give a damn!