"If I were the next Prime Minister" runner-up: "I would replace all taxes with one big-ticket tax"
If I were the next Prime Minister, I would eliminate all corporate and personal income tax and replace it with a 1% financial transaction tax on all financial transactions over $99,999.99, bring a Federal property tax and continue with the GST as a consumption tax.
This would make Canada the choice of big and small business around the world as the place to do business.
Elimination of income taxes (both business and personal) would reduce the cost of doing business by about 20%. It would also enhance the privacy of ALL Canadians with less forms, regulations and interference of government.
Tax coffers would fill as entrepreneurs and business leaders would thrive under the new simple rules of taxation. Canadians would no longer have to spend millions each year simply to file their tax returns.
Canada would benefit financially and socially and become a beacon to the world of how it should be done!!!
-Terry Johnston
