We need more taxes

From Moody’s report released yesterday, the following is their table on the changing nature of government revenue in New Brunswick.  I don’t have the link to the original document – I can’t find it online.

I think this speaks for itself.  Irrespective of the need to eliminate the deficit, we have got to figure out a way to boost own source revenue. 
CONSOLIDATED OPERATIONS (C$MILLIONS, YEAR ENDING 3/31)

  2007 2008 2009 2010 2011B % Change 07-11
Personal Income Tax 1,175 1,256 1,323 1,296 1,187 1.0%
Corporate Income Tax 218 267 111 200 187 -14.2%
Property Tax 352 352 385 412 420 19.3%
Sales Tax 872 841 1,061 933 1,010 15.8%
Gasoline Tax 215 198 195 198 201 -6.5%
Federal Transfers 2,487 2,578 2,727 2,901 2,969 19.4%
Sinking Fund Earnings 232 231 233 216 229 -1.3%
Other 1,093 1,242 974 732 1,044 -4.5%
Total Revenues 6,644 6,965 7,113 6,990 7,247 9.1%
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One Response to We need more taxes

  1. sandy mackay says:

    Looks pretty straightforward, doesn’t it. Follow the negatives and look at what has dropped. Corporate tax and gas tax.

    Introduce a new tax on gasoline- 10 cents a litre, and buy insurance against future industrial accidents causing environmental nightmares.

    Build small businesses to value add NB resources and increase the base for corporate tax. Start in the arts and culture sector.

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