My Point of View: Pt 4 “Is the Money Out There?”

Of course the money is out there to help Canadians pay down the growing national debt.

[Please read Part 3 for some context.]

We have vast amounts of money for essentials, i.e., food, clothing, shelter, and services related to transportation, communication and recreation.

We have vast amounts of money for non-essentials or extras, many of which have an initial cost which we’re very willing to pay and subsequent costs we’re paying (perhaps not knowingly all the time).

For example, attached to the initial cost of bottled water, beer, cigarettes, cookies, Coca-Cola (some information provided re costs in previous posts) are substantial follow-up costs related to recycling plastic and caring for the many who fall prey to the ill-affects of tar, nicotine, sugar, salt, fat, etc., in a weary health-care system, to name a couple.

When I mentioned the five extras above (bottled water, beer, cigarettes, cookies, Coca-Cola), some readers likely felt I could have go on farther.


["Sit. Soak. Solve the debt problem."]

True.

While looking at lists of reports re other consumer products I was amazed at the number available.

My word. In canada alone we mist spend billions upon billions for such things as pets, ice cream, clothing and foot wear, coffee, calming and sleeping products, bath and shower products, cosmetics and toiletries, deodorants, smoking cessation aids and noodles.

Yes, there is a consumer report re NOODLES!

If you want, you could be buried in paper about how much we spend on consumer goods.

The quantity of goods and extras makes me feel that Canadians are very good at being consumers.

In fact, we may be spoiled rotten in a lot of cases and have far more goods than we actually require.

We also have more debt than we require.

Consumption in many areas, particularly in those with substantial follow-up costs, could be curtailed for the benefit of us all - both financially and health-wise.


["This pig doesn't need to sink."]

What must we do to pay down national debt in this vast land of essentials and extras?

Public education re the true costs of excessive consumption of wasteful consumer goods?

More education re specific revenue streams? E.g., Coca-Cola costs 10 cents more per can to combat higher costs in health care? Plastic bottles of water cost 25 cents more per unit to pay for recycling costs?

A fairer income tax system for individuals and corporations, e.g., 20 - 30 wage/earnings categories rather than the 6 or 7 we have now?

Higher consumption taxes, like the harmonized sales tax, but 2 cents higher?

Perhaps all of the above and more?

I know some will say their budgets are already stretched to the limit. There is no room for the extras I put my finger on.

I know that. A fairer income tax system might actually help.

Because many Canadians are buying essentials and extras in an excessive and ultimately costly (to us all) fashion. A wider net would help.

And with that I conclude the series “Is the Money Out There?”

***

Raise your hand if you like higher taxes.

Not many.

Any other solutions to rampant, oft-harmful consumption, to runaway household and national debt?

.