I almost have to laugh everytime I turn on the news and hear about Toronto’s woes and their pending tax increase plan.
For those who havent heard Toronto Mayor David Miller is pushing for a “TORONTO TAX” on the sales of homes and the sales of cars in the Toronto area. He feels this increase in revenue is needed in order to fix the financial mess the city has now found itself in.
Ever since Miller became Mayor of Toronto, spending on core services has increased over 21% and taxes as some people put it have “gone through the roof.” With this new tax on the sales of homes, it now adds an additional $4000 plus to a home with $400,000 in value.
Lets say youre a first time home buyer and moving out of the rental market into home ownership. Down payments on homes have decreased rapidly with our formerly low interest rates and people are now financing more in mortgages, ie long term debt. What was barely affordable then is not affordable under this new plan.
What is more “funny” for the lack of better word is Toronto city councillors are split on this issue. Hmmm tax out the wazooo or tax out the wazooo.
Mayor Miller has said if these tax proposals dont go through it would mean “drastic” increases in Toronto property taxes and reduction in services. Wasnt it THIS Mayor and council who recently approved a $6 million dollar investment in their new media room and upgrades to City Hall?
What the Mayor of Toronto and his fellow councillors are failing to realize is they have a spending problem that cant be fixed by just increasing taxes. There needs to be priorities in their spending. Theyve spent millions of dollars on items that just arent necessary. They have recently looked at buying a building in the city that houses some Arts organizations for $1.5 million dollars and then leasing it back to them for $2 a month. Again, something that doesnt make any sense. Theyve always gone back to “raising taxes” as a way of generating revenue and it doesnt seem to work.
Governments at all levels have clearly forgotten (or chosen to forget) that there is only one taxpayer for all levels. You and I. For what money the City of Toronto raises with these new taxes (or any other tax increase proposal scheme they come up with) there will be an additional burden on places like the GMA (Greater Milton Area) and the 905.
Whether Toronto City Council is successful or not, they will continue to ask/beg the provincial and federal levels of government for more money. It wont stop. You have to wonder how this flew under ther radar for so long and its finally getting people upset.
For those councillors who oppose these tax increase schemes, good for you. For those who support it, what are you thinking? For those Toronto city councillors who are still on the fence…? What is there to debate?
Good thing for them the next election isnt until 2010. Arent you glad you live in Milton? When I see lunacy like this…I know I do.