Introduction
Bank of Canada
Monetarism
Unbelievable!
Believe It!
Ideology
Article 18
Ex. 1/Ex.
2
A
Vision
Conclusion
Example 1: Eliminating the GST
As the diagram shows , if the BoC
were used intelligently, the first step towards eliminating the GST
could be to reduce it to, say, 4%, while at the same time using
the capacity of the BoC to shift a calculated proportion of the
federal debt From the private banking system TO the BoC.
Secondly, monitor the effect on the economy: less GST would
doubtless perk up the economy, bringing more revenue into the
treasury. Then eliminate the remaining 3% GST.
| This example could serve as a federal prototype for any area needing tending to in our economy: Kyoto, Health Care, Education, Social Programs, Military or Infrastructure programs, and so on. |
Moreover, it could be used at the provincial or municipal level of government in the same way, the only difference being that these lower levels of government would have to determine, in conjunction with the federal government, the level of interest payments required (this being so because they are not shareholders of the BoC) -in return, say, for abiding by federal standards pertaining to the Project in question.
[Back] --Exactly what's next: [Examples] of the use of the BoC at the municipal level (Use of the BoC at the provincial level would be similar). We have working examples in this instance...
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