What are some famous politicians in Ontario, CA?

What do you think, of the premier of Ontario raising taxes with 127,00 people layed off in one day?

• How do you think the Prime Minister Feels when the premier of Ontario raises taxes, when he's trying to lower them? And will the prime minister take Action against this premier who is under-minding the authority of the federal Govt. with 127,00 people unemployed in one day in ontario you'd think the last thing they would do is look for way's to raise taxes... its not difficult to figure out how to turn things around, but as usual our politicians panic and come up with stupid idea's on how to save the economy. So here's my idea; freeze bank interest rates at .05% for 15 years on everything: lines of credit, car loans, mortgages, and all other loan types (this means on everything.).next reduce car ins to no higher than 800$ per person. cut income tax by 35 to 40 %,change the gst and pst to a gas tax rebate of $450. given to all ins motorist. so if you own say 9 cars you get 450. if you own one car you get 450. this is for ten years. Each year they reduce this amount by $50. dollars till its gone.Return the .07 cent tax on everything. in this way the economy will become stronger. and will give both the Gov't of canada and the big three ten years to come up with lasting alternatives to keep things going. Desperate times require desperate measures. so far all they have done is try to get people motivated to buy cars and that's not good enough now is it... And if I run For Prime Minister, all the other politicians would be looking for their copy of the yellow pages to protect their butt from my boot and it would serve them right for dusting off chairs with their unused brains..perhaps we are in this mess because they have been sitting on em for too long. what do you think? And do you think we Should LYNCH the Premier of Ontario?????

• Answer:

  Wow, you've spent some time on this. Umm, no, we should not lynch the Premier of Ontario. Nor can the Federal government act in any way against him, since the provincial government has the sole constitutional power to act in their sphere of interest. Now, on to the rest of your 'ideas'. Your first idea is to lower interest rates to zero (in effect) for 15 yrs. If you had any knowledge of economics (or even just an awareness of the way the world works), you'd understand that the effect of that would be to drive investment from the country totally. Why should I, as an investor, loan money at zero interest when I could get a much higher rate of return anywhere else in the world? The answer is I wouldn't. So your 'plan' would result in the country having no investment, no new jobs, for 15 yrs. Yeah, good idea. In addition, your plan would decimate the incomes of elderly Canadians who rely on their RRSPs to see them through their retirement years. That includes Canada Pension and other union and company pension plans as well, all of whom rely at least partially on interest income directly or indirectly. Car insurance? Car insurance, like all insurance, is based on the cost of claims. Whether private or public insurance, the principal is the same. So if we lock rates at a certain level, we ensure that companies will lose money, or they have to limit claims in some way. Do the first and you will instantly drive insurance companies out of business. Do the second, and it's the motorists who pay. Would you like to have your $20,000 car wrecked by someone else and only receive $10,000 insurance? Frankly, why you'd even include car insurance in this rant is beyond me. Cut income tax by 30-40%. Oh and somehow turn the gst and pst into a rebate? GREAT idea. The province of Ontario is projecting a massive deficit, as is the federal government. Other provinces less so. How do you plan on paying for all this? Remember, you froze interest rates, so nobody anywhere will be loaning the government the money. A government has only two options to pay for it's services. It can tax, or it can borrow. Since you have eliminated borrowing as an option, dropping taxes as well means the government will be bankrupt within hours of these laws taking effect. Literally hours, since the banks would immediately close any lines of credit or loan facilities (they don't work for nothing, nor should they). As I said, you've spent some time thinking on this, but you need to spend a LOT more time in learning about basic economics. Grade school economics.