Letter: Tax cuts kick debt down the road

As my Grade 11 math teacher said, ”you can pay me now, or pay me later.

Re: Why cut taxes for the rich? (B.C. Views, Chilliwack Progress, Feb. 25).

I’m a senior with a defined-benefit pension plan and income splitting. I’m using the tax free saving accounts. I get a seniors’ discount on my property tax. I can defer my property tax if I want and at some point I may. I’m not wealthy, but comfortable.

Both the federal Conservatives and B.C. Liberals have reduced income taxes for me. Why would I disagree with their policies? We are the privileged generation – you may enjoy the same privileges, in retirement, while they last.

Why the concern? Only because we have grandchildren who will be paying for the privileges and lifestyle that the B.C. Liberals and Conservatives think we deserve (for votes), with borrowed government money. It’s called debt, and the B.C. Liberals have doubled it in the last decade or so.

Bring back Premier Ralph Klein from Alberta, in 20 years. By then I may be gone, and the grandchildren will be working to pay the interest on the debts. There will likely be riots, as there were in Greece. Greece – still at 173 per cent debt to GDP after four years of austerity – too late for them to get out their own mess. My TFSA will suffer a bit when they default.

As my Grade 11 math teacher said, ”you can pay me now, or pay me later.” “Pay me later” sounds pretty good to the privileged generation. Hope you can join up soon – while it lasts.

 

Phil Harrison

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