Bend Over, Harmonized Sales Tax Coming
British Columbia just announced that they are going to be switching to a harmonized sales tax model in July of next year. Basically, instead of having a provincial sales tax (PST) of 7%, and a goods and services tax (GST) of 5%, they are going to have one combined tax, a harmonized sales tax (HST) of 12%.
I'm no economist, but that seems like a pretty bad idea. Here's a quote from the official release:
This is the single biggest thing we can do to improve B.C.’s economy,” said Premier Gordon Campbell. “This is an essential step to make our businesses more competitive, encourage billions ...