raising the GET to 6%

[VancouverIslander]

I don't mind paying increased taxes, however, this kind of tax is regressive in that it creates a higher cost in terms of percent of overall income to the poor. You are basically increasing the cost of all goods and services by 1.5%. For my own personal situation (absentee landlord), this increases my current tax burden as most of my profits are swallowed by amortization/depreciation (which in turn will likely increase my capital gains and income tax paid on that at a later date). So it's $10 extra a month for me, which is not a big deal at this stage of my life, but I know that 1.5% of everything you spend is a pretty significant deal to those on a fixed income or the working poor (almost everyone these days). I'd prefer they increase income tax instead. In the end (either as my rental shows a paper profit) or when I sell (capital gains) I'll likely pay more tax, but it's a more equitable system as I have the capacity to pay.

Just call me Mike