Governments just can’t handle money. The more they get, the more they spend. Politicians just do not have the backbone to say no to any request that carries even the slightest whiff of votes. The result, as many have observed, is that we are being taxed to death by all levels of government and we are still running deficits each year. Consider this description by Claude Drouin, general manager of the Quebec Mining Association, of the Quebec government’s budget earlier this year:
The provincial budget includes several additional costs for the industry: the increased surtax on income taxes from 12% to 15%, the increase of the tax on capital, the inclusion of ore reserves in the calculation of the tax on capital, the reduction of the rate of interest by 2% on refunds to corporations as well as an additional delay that the government grants itself before paying interest on reimbursements, and especially the increased contribution of employers to the health services fund from 3.36% to 3.45%.
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