July 03, 2020
Taxes To Spike Globally & Enforcement Of Existing Cellphone Tax Legislation Will Geometrically Increase
Brace yourself! Massive financial support and unconstrained spending to counter an economic shutdown will lead to painful tax hikes.
In terms of policy and politics, taxes come in two kinds: those that may be popular but generate precious little funds and hurt the economy and those that can generate substantial revenue but are sure vote-losers. Let’s take a wild guess that the government will prioritize its own political survival because of both a profound sense of entitlement and an equally deep belief that its Conservative opposition is not only unqualified to lead the country but is fundamentally evil. Since the end justifies the means in a Manichean battle, the prime minister may implement both types of tax increase — but with careful attention to the sequence.
We reported years ago that every country at the Municipal, County, Provincial/State and Federal level was bankrupt.
The last time governments in any great numbers at any and/or all levels posted budget surpluses of any great size or in number was pre-Great Financial Crash of 2008.
Deficit spending at all levels in 99% of all countries and levels of government has been the norm.
In point of fact deficit spending was increasing globally in June of last year (we accurately predicted Q4 recession in Canada when the election was called in February).
What does this mean?
Governments around the world are going to enforce existing legislation brutally.
Governments globally over the last 5 years all have changed legislation to reflect business vs. personal usage & cost on cellphones and the increased tax treatment.
We already seeing in Canada significant increased enforcement and were recently told by someone in the wireless industry that cellphones were an audit item for them by the CRA.
Keep tax compliant and use mobilityView as a business/employer, employee and contractor gig economy worker.Back