Waterloo Public Library Digital Collections

Waterloo Chronicle (Waterloo, On1868), 3 Jan 2001, p. 9

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Tax cuts are a sign of the federal government‘s commitment to deliver no less than it promises s of Jan. 1, as promised by the Agderal government in the ctober economic statement and Budget Update, all Canadians are getting a tax break. This new round of tax cuts is part of the govâ€" ernment‘s $100â€"billion fiveâ€"year tax reduction plan â€" the largest tax relief package in Canada‘s history. In 2001 this plan will deliver real savings to Canadians at all income levels, particularly families with children. For example, a oneâ€"earner family of four with an income of $40,000 will pay about $1,100 dolâ€" lars less in federal income tax â€" effectively cutting their taxes by oneâ€"third next year alone. And a twoâ€"earner family of four earning $60,000 will save about $1,000 â€" an 18â€"perâ€"cent saving next year alone. By the time the fiveâ€"year tax reduction plan is fully in place, Canadians on average will pay 21 per cent less in federal personal income tax. Families with children will save even more with an average cut of 27 per cent. The following measures, effective Jan. 1, not only fulfill the commitâ€" ment the government made in the October economic statement, but go well beyond the goal set last February in Budget 2000. First, the 17â€"perâ€"cent low tax rate falls to 16 per cent. Second, the 24â€"perâ€"cent middle tax rate, which was already reduced from 26 per cent in July 2000, falls further to 22 per cent. Third, the 29â€"perâ€"cent top tax rate is cut to 26 per cent on incomes between _ about _ $61,000 _ and $100,000. And fourth, the fiveâ€"perâ€" cent deficit reduction surtax is elimâ€" inated. The government is also making good on its promise in the October economic statement to provide timely relief from higherâ€"thanâ€"norâ€" You said it QUESTION WHAT IS YOUR NEW YEAR‘S RESOLUTION? En B L All the southern and western Ontario cities, towns, and farms are pumping too much water out of the ground, only partially cleaning it, and dumping it into the nearest river. mal heating costs to those who need it most. This represents a direct benâ€" efit to more than 11 million Canadians. in addition to these key personal income tax measures, the governâ€" It‘s time to get an alternate water supply he media and the courts have Tspem a lot of time on the Walkerton water fiasco. Every farmer knows what caused that tragedy, but nobody talks about the cause. All the sewage sludge and farm "I don‘t really have one. 1 made one a couple of years ago to quit smoking and | did." "I don‘t make them so 1 won‘t break them." Jennifer Sheasgreen O THE CHRONICL] Paul Martin COMMENT ~ Ray Murray But above all, the steps the govâ€" ernment is taking to put the tax reduction plan into action are a sign of its commitment to continue delivering no less than it promises. ~ Paul Martin, Minister of Finance manure is spread on the land where it can easily be washed into the depleted water table. No wonder people get sick! Isn‘t it time to get an alternate water supply to reduce our depenâ€" dency on the ground water? London, Dunnville and Alliston have water pipelines from the Great Lakes.Why aren‘t these lines being extended to central Ontario? _ ment is taking important steps to keep our businesses internationally competitive. To this end, it has announced general corporate tax rate reductions starting Jan. 1. Other announced _ measures â€" include reducing the capital gains inclusion rate to oneâ€"half and deferring the income inclusion of benefits from employee stock options. What does the government‘s fiveâ€"year tax reduction plan mean for Canadians? The bottom line is that all Canadians, especially famiâ€" lies with children, will have more money in their pockets. In addition, investors and businesses can be assured that Canada will remain well positioned for success in the increasingly competitive global economy of the 21st century. "My New Year‘s resoâ€" lution is to stay out of trouble." "Not to make anyâ€" more resolutions." Colin Marshall Carl Kaufman Waterloo Mike Cyr + In keeping with the prime minister‘s pledge to "be true to Trudeau‘s legacy", the Liberals will invoke the War Measures Act as their first order of business when Parliament resumes sitting. * Kitchenerâ€"Waterloo MP Andrew Telegdi will not be appointed as a Parliamentary Secretary, reportedly to "save him the trouble of resigning on principle". s In this second/first year of the new millennium, I predict that: * Jean Chretien will not resign as Prime Minister and leader of his party. As a result, Paul Martin and his supporters in the Liberal caucus will spontaneously combust. Subsequently, this column will be one of several which will mysteriously disappear from community newspapers. â€" Local representatives will not be shut out entirely, however, as Waterlooâ€"Wellington MP Lynn Myers will get the coveted position of "lead heckler" (an appointment which includes, not only pompoms and a megaphone, but an office with a closet). * Preliminary work will begin on the Liberal platform for the next fedâ€" eral election. In keeping with the trend toward shorter and shorter polâ€" icy documents, it will be called The Red Postâ€"it Note. * NDP leader Alexa McDonough will continue in her job, but will be featured in only two national news stories during the entire year (both of them, coincidentally of course, will be headlined "Is the NDP dead?"). * Progressive Conservative leader Joe Clark will have more success than the NDP in gaining media attention, as each of his press releases will promise reporters "another chance to get a look at my really hot, young daughter". * Canadian â€" Alliance leader Stockwell Day will be severely injured while bungee jumping from the Peace Tower. Alliance spin doctors will later explain that the latest of Day‘s cheap publicity stunts had been intended to demonstrate the party‘s support for a referendum on the return of the death penalty. * In a related story, newly sworn in American President George W. Bush will deny that he had anything to do with "hanging Chad", but will admit that he "may well have killed him by lethal injection". * Ontario Premier Mike Harris will announce his government‘s response to the expected downturn in the economy: tax cuts. This strateâ€" gy is remarkably similar to the Harrisites‘ response to, among other things, the provincial debt, our record snowfall and the annual flu outbreak. "After the first hundred or so exeâ€" cutions," he will state, "it gets really hard to keep track." * Walkerton citizens will play a lead role in launching a clever plan to get the Ontario government to resume its responsibility for water quality testing. â€" Théy and other municipalities will begin labelling their water samples as "welfare recipients‘ urine". * Ontario Labour Minister Chris Stockwell ({now known, thanks to This Hour Has 22 Minutes, as "Chris Doris") will hotly dispute claims by the labour movement that he is allowâ€" ing a work week of up to 60 hours. _"Read the legislation," he will urge Ontarians. "It clearly states that 60 hours is just a minimum." * Ontario NDP Howard Hampton will search the province for an exterminator who can help him deal with "an annoying buzzing sound" that he seems to hear wherever he goes. My predictions for 2001 Progressive Conservative leader Joe Clark will have more success than the NDP in gaining media ‘ attention, as each of his press releases will promise reporters "another chance to get a look at my really hot, young daughter SCOTT PIATKOWSKI

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