Analysis: Ont. Liberals spending away our futures

(Fotolia)

(Fotolia)

Christina Blizzard, Senior Queen's Park Columnist

, Last Updated: 7:35 AM ET

TORONTO -- Premier Kathleen Wynne announced recently she wants to introduce a mandatory payroll tax to pay for a made-in-Ontario pension plan.

I have a better idea.

She -- and her marauding Liberal band of spending addicts -- should stop spending our money.

I offer you some numbers put together by reader Dan Schmitt, who sat down to figure out just how much this government has increased revenue -- in other words, how much extra they've taxed us -- since they came to power in 2003.

He came to the staggering conclusion that the incremental debt per family over the past 10 years is $44,807. The average Ontarian right now is 40 years old. Statistics Canada says the average life expectancy is 82 for a man and 84 for a woman.

So if you're 40 years old now you have -- statistically -- another 40 years.

Schmitt, who's in marketing, is not politically involved and says he's simply a fiscal conservative who's concerned about how his tax money is spent. I spent some time going over his calculations and his numbers are bang on.

He calculated that, based on the rate of incremental increases in revenue -- or, put another way, the rate at which the Liberals hike taxes, user fees, licences and so on -- over the next 10 years, that figure will grow to a staggering $49,713.

The following 10 years, assuming the same amount of spending, the figure goes to $60,599. Ten years after that, it will be $73,870. In the last decade, the incremental increase will be $90,048.

Add up all those numbers, throw in 2% a year for inflation, and Schmitt estimates the grand total of increased costs to you 40 years from now is $319,000.

That would go a long way to providing you with a pension.


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