Inflation has hit most people in the province, but the government has been raking in additional revenue from income and sales taxes.
What the premier doesn’t talk about is how wonderful inflation has been for his government. It has been profiting mightily from rising prices. Every time a price goes up, so does the sales tax amount. In 2019-20, the last budget before the pandemic, sales tax brought in $28.6 billion. This year, it is budgeted at $35.8 billion.
Cars are a necessity for most people but buyers are being hit with a double whammy. Inflation has raised the prices markedly for both new and used cars and the high interest rates that are meant to fight inflation increase the monthly payments. In 2021, the average price of a new car was $45,000 and a used car $26,000. This year, the average new car costs $61,000 and a used car has inflated to $39,000. Ontario’s response has been to throw in the licence plates for free. Thanks.
While they are at, the government should drop the provincial sales tax on ever-more-expensive restaurant meals. What difference does it make where we consume our food? Let’s keep it simple. If we eat it, they don’t tax it.
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