Waterloo Public Library Digital Collections

Waterloo Chronicle (Waterloo, On1868), 30 Jan 1980, p. 5

The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

The governnment debt has been growing at a rapid rate. Since 1972. the borrow- ing as a proportion out thee total federal government budget has risen steadily. from 6.2 percent in' 1972, to 12.6 percent in 1975-76. to 22.5 percent in 19778-79. This haas caused the total go- vernment debt (federal go- vernment only) to rise from $30 billion in 1967 to $50 bil- lion in 1973, and then to skyrocket to $77 billion by 1977. This is equivalent to $7,700 per worker in Cana- da: or about $3.400 per per- gon. If the debts of all levels of government are calculat- ed together. then the total indebtedness runs around $120 billion. or $12.000 per worker, or $5.200 per per- son. . The huge government de- ficits which have resulted in large borrowing have been accumulated to provide in- frastructure and subsidies of every description to the monopolies and multina- tions to enhance their pro- fits. They have also been ac- cumulated through the mill- tarization of the economy, the big expenditures on war preparations and on the strengthening of the repres- sive state apparatus. Already one of every $7 of the taxpayers' money is ear- marked for so-called‘ "de- fence" expenditures with the government already committed to making further increases in the mi- litary spending during the next five years. Election ‘80 Brian Erdman Marxist-Leninist This huge indebtedness places a heavy burden on the taxpayers, who must pay billions estery year just to pay off the debts of the government to the foreign and domestic finance capi- talists - about $6.5 billion in 1978-79 fiscal year. amount- ing to a levy ot about $650 per workerrand the sum is . Inflation is one of the methods of the state to fin- ance its growing deficits which have been accumulat- ed through vast expendi- tures on communication. transportation. hydro power and other infrastructure to serve" the needs of the mono- polies and multinationals: through handouts to the monopolies and multina- tionals to enhance their pro- fits: through huge expendi- tures on military hardware: and through large spending to strengthen the repressive apparatus of the state of the rich through the construc- tion of new penal institu- tions. the expansion of the police forces like .the RCMP. etc All of .the programmes of Who pays these taxes? Do the big monopolies and mu- 1inatieetals, which receive the subsidies and handouts, the assistance in the form of infrastructure, tax breaks, etc. parthe bill? On the con- trary, it is the people who are forced to pay. while the state undertakes expendi- tures in the areas where the monopoly capitalists can make the maximum profits. both through the loaning of finance capital. and through the branches of industry which are supported and opened up by the state. While direct income taxes of individuals and corporate taxes were nearly the same in 1950, in terms oi.reven- ues, since then. income taxes have increased 28 times While corporatetaxes have increased only seven times. nearly twice that on thedebt of all levels of government. By the end of ms. IN out of every dollar raised in taxes was earmarked to pay off the public debt. . The stand of the Marxist- Leninist Party of Canada is that the people must fight against the rising taxes. hydro rates and other at- tacks of the rich and their governments and that all debts owed to the foreign and domestic finance capi- talists should be cancelled. including the debts of the go- vemments and that the do, mination of the country by the US. imperialists or any other foreign power must be ended. The Liberals. Conserva- tives and the NDP are not interested in eliminating the government debt and eli- minating this heavy burden on the backs of the people. They are parties of the rich and the accumulation of go- vernment debt serves the in- terests of foreign and do- tttetttriinance capital. the Liberals. Conservatives and the NDP will amount to increasing the government deficits with the result that the government will print more money to cover the de- licits and meet its other debt obligations. This means more inflation. It means that the prices of all the commodities in the pos- session of the capitalists will increase in various pro-. portions. with one capitalist using the pretext of the rise of the cost of one com- modity to increase the price of others. On the other hand the wages of the workers. the price of the commodity labour ower. will not in- crease. g'hus the national in- come will continue tube re- distributed in thorium of the big monopolies and to the detriment of the broad masses of the working pee ple. - When Trudeau was Prime Minister. he spoke inces- santly about how he was going to "wrestle inflation to the ground."' Joe Clark said: that fighting inflation was his government's “number one priority." Broadbent says the same thing. This is demagogy and deceit. _ To fight the crisis. the workers and broad masses of the people must resist every effort of the rich and Music Mann travel association presents "A Symphony on Snow" will be the theme this year for the third annual cross-tTurley "Ski-a-thon" Satur- day Feb. 9 at Waterloo' Park. The Honorable Flora MacDonald, Secretary of State for External Affairs will officially open the six- kilometre course at 10 a.m. A warm-up party will precede the event at 9:30 a.m. at Rink in the Park. 'theevent. organized by the Women's Committee of the K-W symphonrorehestra, is held!» raise money for the operation of the orchestra: l V Among the local celebrities taking part are Sym- phony conductor Ram Armenian twho up until. Mon- Last yisar,, $7.500 was raised and tuis year the com- mittee is hoping tora1ize, ”.090. _ _ . l K-W Symphony Orchestra conductor Kalli Armenian (right) will be one of several celebrity skiers taking part Feb. 9 in the Women’s Committee of the K-W Symphony third annual "ski-a-thon" to raise money for the orchestra. Since Armenian had never cross-country skied before. he took a few minutes out of his busy schedule Monday to practise at Waterloo Park, site of the event, end principal trumpeter John Tickner (left) was more than willing to reverse roles and instruct his con- ductor on the art of the sport. "It's fun, but I'm too old to take up this type of thing seriously." said Armenian. _ Dtryteina '9 day Holidays From s 1 Al) Bit',,',,,,,,, From I . v “If! . 7 nights accommodation 'Return deluxe motorcoach transportation Benetton. Jam, Fob., Mar. Mar. 15-23 Daytona a Orlando Orchestra on the slopes MARCH BREAK Catt for {um doll“. am I“ n. I.” “You mun 1M7” 'Rehearsing the conductor’ They should fight for higher wages and against the price increases which the rich are imposing on them, whether for energy, food. etc. To end the devastation caused by inflation and rising prices, to eliminate the trend in this country of the rich becomin- g richer and the poor beco- ming poorer. the workers and the broad masses of the people must implement the programme to Make the Rich Pay for the Crisis! This is the only alternative their governments to make the people pay for the crisis. "r-te-toe-e-et-tttui'.?'-' day had never tried the sport), Waterloo Mayor Mar- jorie 7 Carroll. Waterloo MP Walter McLean. Kitchener MP John Reimer. alderpersons Mary Jane Mewhinney of Waterloo and Dom Cardillo of Kitchener. Waterloo North MPP Herb Epp and Uni, versity of Waterloo presidettt Burt Matthews. Anyone interested in supporting, this worthy cause may pick up entry forms at the Symphony office on King St. in Waterloo or by phdning Cathy Raithby at 885-4472 or Barbara Hull at 884-7914. _ Ail skiers must enlist their sponsors based on so much per kilometre and the course may be skied three times for a maximum ori8 kilometres. G muted Tu "ablation n 3llLdli; HOUSE Ill“ - ll FURNACE HUMIDIFIER Gummy, Wrltttettitptery, so, "" ft- S ' HELPS PRESERVE Yotlit HEALTH & HOME 1 u m St. Wm. wumloo coo-2m [EDIE] WHEN... FUELS p) Recovering, restvling, t plastic covers madeTo measure. l - Nmtmliamt Sonic. Fm Ssti-tm 7445382 Ru. M5524 K. KESSLER UPHDLtrTEmNG LTD. Our new location is 101 PARK ST. HT.

Powered by / Alimenté par VITA Toolkit
Privacy Policy