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Premier McGuinty Denies Trenton HST Tale
Posted 1 month ago
Wed, Jul 28th, '10 - 4:48 am
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Ontario Premier Dalton McGuinty rebuffs a Trenton business owners HST complaints, but a Conservative MPP sides with the owner.
Owner of L.A. Video, Ray Ellis, told the Lorne Brooker Show on CJBQ that the HST costs him money. But Premier McGuinty told a news conference following a tour of the Quinte West YMCA that the HST is “not easy” but will help the economy. Conservative MPP Lisa MacLeod, was following the premier, and says McGuinty unfairly targets small business. She says it costs about 38-hundred dollars for small business to transition to HST. Meanwhile Quinte West took advantage of the premier’s visit to make a funding pitch for its proposed new marina.
HST’s promise of lower prices and more jobs is bogus. In a dream world where everyone is looking out for the common good it may work but it won’t work here.
Example, Greed/necessity: If you are running a company and selling a product while making a small profit selling it for $100. When HST came in it in theory will eventually lower the cost of the item from your supplier that you are selling for $100. So that item may cost you 10% less (for arguments sake). You need/want that extra 10% per sale to keep your life style or afford that new something so you don’t lower your price, you keep the new found money for profit (or to pay the increased utility costs). Now you make your normal profit + the new found profit since you supplier sells for less (in a perfect world). Prices won’t go down, prices won’t slow down when increasing, people will keep the money as profit (corporations especially).
From the job creation side of things…. its all about profits again. Why would a company producing X quantity of goods for Y dollars hire more people to make the same X quantity of goods? They won’t. They want the profits.
Just my take on HST. I may be misinformed.