The single overriding purpose of the Gordon Campbell government has been to widen the gap between rich and poor. It is a self-serving plan of 2% to enrich themselves at the expense of 98%. Over time, the policy will lead to economic disaster and social unrest. No empire of the rich and powerful has survived for more than a few moments in history. Like a stick, ordinary society can only be bent so far.
Cast your mind to the earliest financial moves of this Campbell administration. It was to reduce income taxation on the highest earners and corporations. Campbell’s Liberals have been steadily shifting tax burdens from business and the wealthiest citizens to individuals less affluent. While income tax rates rise with income, sales taxes and fees apply uniformly, regardless of income or wealth. Under Liberals, the highest personal tax rates dropped substantially while fees and sales taxes rose and rise dramatically. Remember increased ferry fares, rising tuition, parking taxes, transit levies, fees for government services, carbon taxes, planned bridge and highway tolls, etc. Regressive taxes all.
Tax revenues from business continue to fall. The Government’s three year revenue forecast expects a growth in personal income tax of $865 million and a reduction of corporate income tax of $70 million in the same period. Additionally, the move to HST this year takes billions more from ordinary consumers so it can be paid as HST tax rebates to businesses, including huge foreign companies that will quickly repatriate the money.
Liberals plan now to strip more than $500 million from ICBC reserves. Clearly, that will lead to large insurance premium increases for all drivers. In reality, excess premiums resulting from payments to Victoria by ICBC, and its assumption of driver and vehicle administration costs, are regressive taxes.
Liberals will remove billions more from BC Hydro and require the crown corporation to increase domestic rates by 29%. That will fund, not system maintenance as they claim, but the fortunes to be paid to independent power producers under secret take or pay agreements signed with Liberal friendly privateers.
Medical Services Plan premiums increase again, 6% this year. Despite reductions in coverage, MSP fees rise annually, accounting for about $1 billion more each year now compared to when Liberals took office.
The 2001 model of Campbell promised not to encourage gaming because of “the harmful impact of excessive gambling.” The 2010 model plans to extract another $400 million from gaming over the next three years. The Liquor Distribution Branch too will dip more deeply into pockets of BC citizens.
WorkSafe BC and other public agencies are being harvested for funds as well. The Campbellites are already planning for their eventual ouster. The next Premier, whether it is a rebellious Liberal or from the present Opposition, will find the financial cupboards bare. Every agency surplus will have been picked clean and a legacy of billions will be due private operators who are being franchised to control this province.