Thursday, October 06, 2005

Surplus Act

Unlike our American cousins to the south, Canada's federal government has had a budgetary surplus each year of the past seven years. This is as a result of an economy that has grown steadily giving the government many more tax dollars from all of us worker bees. So, what are they proposing now? If the actual surplus for the year exceeds what the finance dept expected, the excess surplus will be split into three. One third to pay down the debt, one third to add more money to social programs, one third as a pay back to Canadians, and the last third to top heavy government bureacratic waste programs. If you noticed the thirds don't add up, this is exactly how government finance math works.

So, for all of us Canadians, expect to continue to be heavily taxed, and expect a pittance of a reduction in your income tax by way of the Surplus Act.

Throwing numbers out there, let's say the excess surplus was 1,800,000,000$. Now we take one third of that, 600,000,000$. Statscan says there are about 17,000,000 working individuals in Canada, so if the excess were divided equally among us all (which it will likely not), we'd each get 35.29$. Woo hoo!

Excess surplus 2,400,000,000$ we get 47$
Excess surplus 3,000,000,000$ we get 59$

I hope all of you out there who will be getting this don't spend it all in one place, or if you do, not all at the same time.


Brotha Buck said...

Numbers in any context give me a head ache. Numbers with a dollar sign following, now thats a migraine.

Mr K said...

35 whole dollars! Thats money beyond my wildest dreams!

My dreams suck....