I hate the HST! But – how will we pay off the hidden $6 billion debt?
Premier Gordon Campbell brought in the HST to pay for his twin bridges and super highway projects.
That’s the real reason for the HST. Period.
It’s almost $4 billion for the twin “Gordon Campbell Bridges” and almost $2 billion for the truck superhighway from the Golden Ears Bridge to Delta. Makes the three-quarters-of-a-billion dollar “fast ferries fiasco” look small, doesn’t it?
Right now, no matter what the accountants’ numbers say, we are $6 billion in the hole. And sooner or later, we and our grandchildren will have to pay that debt.
No matter who or what is taxed to replace revenue lost if we repeal the HST, we will have to pay that debt in the end!
Did you know, we already have a “double win”?
1.) We got our B.C. Liberal government to admit to a mistake. Wow!
2.) Another win: There are rebates for some of us and a two per cent lowering of the tax rate for us all.
Now, let’s not shoot ourselves in the foot by repealing the HST. It would be a victory, but a hollow one. The cost of changing back to previous taxes plus the decrease in revenues will only add to the debt load our children and grandchildren will have to pay. Do we really want to do that?