Thursday, April 1, 2010

Amending the Excise Tax Act part 2

The Minister of Finance Jim Flaherty insisted recently that the government was not imposing any new tax, he, however, noted: "The proposed changes contained in the Notice of Ways and Means Motion tabled in the House of Commons on March 22, 2010 are designed to confirm our long-standing policy intent to restore the situation that existed prior to the court decisions. We are not imposing new taxes." This is because changes to the Income Tax Act are put into existence before they are passed as law. When will the continuous growth of the tax burden on the people stop? Not until the current fiat financial system that is built on the backs’ of the people crashes. The more Canada goes into deficit over the next years, the more taxes that will be collected, or become collectible on the Government’s Balance Sheet. The more the debt, the more the interest, the more the taxes!

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