Opposition Fiscal Plan: Overtax, Overspend

They're not yet in power, but they're getting ready to go on a spending spree. And where will they get the money? Don't worry that's what successful businessmen are for.

Fife reported earlier Monday that the cabinet formed under the coalition would include both Liberal and NDP ministers. The Liberals would take 18 cabinet seats, while the NDP would get six.

Fife also reported that the coalition government would introduce a $30-billion economic stimulus package and roll back $50 billion in planned corporate tax cuts.

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In other words - they'll be robbing a successful businessman Peter to pay Paul, whose business is failing. Rolling back business tax cuts means raising the small business rate from 11% back to 13.12% - nearly a 20% increase. Great way to provide an economic stimulus, isn't it?

And another thing: They're looking forward to cancel $50B in tax cuts and to outlay $30B in bailouts. What happens to the rest? What are they planning to do with the $20,000,000,000 "leftovers"? Waste them on the Kyoto "carbon credit" market? Spend them on vote-buying and social engineering? (Handouts to special interest groups, universal McDaycare, affordable ghetto housing etc.) Or maybe they don't even count on those remaining $20B, considering the inevitable slowdown and bankruptcies resulting from their tax hike? After all, not every Mom & Pop Enterprise out there could afford to pay an extra 20% in taxes, to raise money for the bailouts...

It's been just 6 weeks since voters rejected the Liberals the NDP and the Bloc individually. If they want to gang-up to ransack the country's finances - they must leave the final say to the voters. Spending $200M on a new election is a far lesser evil than having the country's fate decided by a back-door deal.

Update: The original news release has been removed from the CTV site, but thanks to the bloggers we can still have a glimpse of what a Liberal/NDP budget would be like.

Please sign a petition to your Member of Parliament to oppose the proposed "coalition". Yes, I know it's going to be a whipped vote, so our signatures are unlikely to change anything. Still - let them know what we think about their back room deals.

Update 2: A Rally For Canada will take place in several cities across the country to protest this potential coalition, especially the fact that the NDP and Bloc had been in discussions about such an idea well before the fiscal update was presented.