$5M of our money to keep Eco Fee Ass Co. going.
Why is everyone celebrating? There was NO win for taxpayers yesterday when the Liberals put a 3 month moratorium on the new Eco Fee. A fee that turns out to be the biggest tax grab in our provincial history which is a pretty lofty achievement considering the previous two biggest tax grabs were just put in by our Liberals with their health levy a few years ago and the new HST.
At the same time they announced this moratorium, they committed a further $5M out of our regular taxes until an assessment of this ridiculous tax grab is made. I would go so far as to say that this is meant to appease complainers like me in hopes I will forget that in three months the moratorium will expire and the program will likely be slipped in under the radar again.
So now instead of taxing us at the till, we are being taxed from general revenues to fund a program that needs assessment. Think about that. They admit it needs assessment. Yet they still continue to fund it. Why do we always end up losing out? Why can’t they just put a halt on the program outright?
OfficiallyScrewed … again.
Lowell Green on CFRA brings up a good point. Why are we paying a further $5M while assessing this? Stewardship Ontario has a reserve fund close to $73 Million invested in GICs, Money Market and Bonds which are part of their assets. From Stewardship Ontario’s own website financials.
Below is the Balance Sheet indicating how the assets. (note the comment on Investments)
Below is their statement of variance. Note how much money they spend in a year and mostly on our Blue Box program. I always thought my municipal taxes paid for blue box programs.
And now the kicker. Where the $72+ Million in Investements are. Completely liquid assets. So instead of taking a minor hit on the interest and selling $5M of investments, the stinking Liberal McGuintyites are taking the $5M from our general tax revenue when they have completely liquid assets.