Linda's Column

  • Linda Leatherdale

Updated: Nov 10, 2020

𝓐𝔁𝓮 𝓣𝓱𝓮 𝓣𝓪𝔁????

Linda Leatherdale Former Article Loud and Clear!
Linda Leatherdale, Axe The Tax

As the saying goes, there are two things in life you can count on. Death and taxes.

Well, let’s add one more. Lies our politicians tell us. It was back in 1917 Canadians were first hit with income taxes – both personal and business - and we AXE were promised this was a temporary measure, perhaps a year of two, to pay for World War 1. By 1948, the Income Tax War Act was replaced with the Income Tax Act, and we’re still paying. But, it’s not enough.

Today, Canadians pay a host of taxes, many paid for in precious after-income-tax dollars. Think about it: We pay payroll taxes (CPP, EI, etc.), sales taxes, property taxes, SIN taxes on booze, tobacco, weed, amusement, import duties, and on, and on. And let’s not forget about the hosing at the pumps, with high gas taxes, plus automobile taxes. In short, we pay more to governments than we do for the basic necessities of life - food, shelter and clothing. So, when Brian Mulroney’s Conservatives decided it was time for a new sales tax – a European styled value-added tax – I decided ENOUGH.

Time to fight back! Canadians across this country joined in our Stop the Tax Madness rallies, and we took our protest to Ottawa. Then finance minister Michael Wilson called my protest, “reaction to sensationalist journalism” but the Conservatives paid at the polls, being reduced to a Party of Two. Still we got hit. On Jan. 1, 1991, the proposed 9% Goods and Services Tax (GST), which replaced the 13.5% manufacturer’s sales tax – hit our wallets at 7%.In 1993, Liberal leader Jean Chretien, promised to “Axe the Tax” if he was elected. Chretien won, but the GST remained. Yes, it has now been reduced to 5%, but it’s much higher when harmonized with provinces’ sales taxes. (In Ontario, we pay 13%.) Now, the bottom line:Today’s debt – tomorrow’s taxes. Our federal debt is expected to skyrocket to a shocking $1.2 trillion in 2020-21, with the deficit jumping to $343 billion, up from $34.4 billion – thanks to all the spending fighting the COVID 19 pandemic. That’s a debt-to-GDP (gross domestic project or economic growth) ratio of 49%. Ouch! Believe me, the GST rate is going up. So will other taxes.

Let me be clear: We live in the best country in the world, and we all want to pay our fair share. But taxpayers only have one pocket, and already we're paying about 41% of our hard-earned money on taxes.

Brace yourselves. I am Linda Leatherdale

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  • Linda Leatherdale

Updated: Nov 10, 2020

🗞 𝓣𝓱𝓮 𝓸𝓷𝓮 𝓪𝓷𝓭 𝓸𝓷𝓵𝔂 @lindaleatherdale

Linda Leatherdale Former Money Editor of The Toronto Sun
Linda Leatherdale, Former Money Editor

As the crusading Money Editor of the Toronto Sun, for years I fought for a healthy, wealthy Main Street - where hard-working, taxpaying families are treated fairly. My crusades helped to shape new legislation (the Consumers' Protection Act, The Taxpayer Protection Act) and led to home buying initiatives like the Home Buyers' Plan allowing RRSP money to be used "tax free" to buy a first home, and 5%-down mortgages. What an honor to be bestowed awards for fighting for the little guy - including the Queen's Diamond Jubilee Medal. My journalistic career expanded beyond newspapers to TV and radio, including host of the popular Money Line TV show, Linda's Money Show, a financial anchor on Citytv's Breakfast TV and Global TV.

I continue to be a regular guest on The Roy Green Show on the Corus Radio Network across Canada. Tune in. And my book, Money Is A Girl's Best Friend, became a bestseller. My life-long dream in a world so divided by hatred and greed is for all of us to learn to live by the Golden Rule: "Do unto others as you would have others do unto you." Not, "Do it to others before they do it to you."

As a proud Canadian, I treasure our rights and freedom. Let's keep the dream alive.

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