Everyone is talkin' 'conomy these days so here's some cool stats.
North American States (USA, Mexico, Canada) Ranked by GDP
1. California (2.1 Trillion)
3. New York
7. Ontario CDN (600 Billion)
8. New Jersey
10. N. Carolina
16. Quebec CDN (350 Billion)
21. Alberta CDN
23. Arizona (300 Billion)
(Note: the CDN dollar is trading at 0.90 to the USD at the time of writing so any entry with a CDN marker must have that taken into account)
Quebec comes in at 16th in this list. It may have a population of over 8 million which is the 12th highest in North America yet it ranks in way down at 16th in GDP which is a surprise to some but not to others.
This is a list of state income taxes paid by region in the US: http://taxes.about.com/od/statetaxes/a/highest-state-income-tax-rates.htm
Some of these areas are pretty low. Apparently Wyoming doesn't even make you pay income tax.
In Quebec you have the following taxes applied to you:
Provincial Income Tax(+100,000 income): 25.75%
Federal Income: Tax(+136,000): 29%
Sales Tax (any good/service purchased in the region): GST+QST = 14.98%
(note: if your business only operates in Quebec you may be able to claim a small "Quebec abatement" discount on your federal taxes)
Okay so, if a business wants to operate in the Quebec region and it becomes pretty profitable and successful then you're looking at hits of 26+29 on your income and a hit of 15 on anything you purchase in the region. Those hit rates are the highest (by a large margin) in North America.
Consumer Spending / Consumptional Power Stranglehold
Over 2/3 of any area's GDP is chuncked in Consumer Spending. The purchasing of goods in the region by citizens is the over 66% of any economy's GDP, and that is a fact.
With all those tax hits being slung out left and right, it seems consumers can't spend their money as willingly and as often as they could in a healthy economy.
If the government takes all your money away then you simply can't buy things...it is literally that friggin' simple. No frills of gimmicks, bro...it's that simple. The following statement is unquestionably true:
No One can spend money in the economy if the government takes it all away
I was reading an article about a New York start up program to lure businesses to come and operate in New York state. They wave taxes for 10 FULL YEARS to let a new business get off the ground and become successful. TEN FULL YEARS they wave the taxes. That's how some regions operate...they actually understand the concept of not strangling people to death. They actually want to have a healthy and functioning economy. That's pretty cool to be honest.
What Does Quebec Do with with All these Taxes They Collect?
See: Charbonneau Commission
Basically, they pocket it, give it to their friends, or put it in some Swiss bank account. They steal it. They literally steal it and take it out of the economy. They drain the life blood out of the economy and hide it somewhere.
The Commission has become a soap opera of nonsense for like a full year now. These people who testify seem so proud that they are draining and killing a region's economy. It's like some fucking stupid godfather movie to these fucking asshole losers.
If the Quebec region operated in a similar style of more advanced regions (i.e. New York, California, etc.) who have a clearer understanding of economics, could they climb the ladder of GDP rankings quite quickly?
If all the registered businesses in the region were operating at an optimized consumptional power module these companies would have the option to buy new equipment, expand, employ more humans, and increase wages for employees. All of which would result in positive increments for their economic ranking. Not strangle-holding the businesses in the region would have an immediate effect.
If the 8 million demographic humans in the region had more consumptional power to purchase homes, purchase vehicles, purchase luxury goods, and other products* then you are looking at some compounded GDP growth out the wazoo.
*(note: necessity goods such as common food items should never be used to increase GDP. Trying to gimmick up bread, milk, salt, eggs, and shit like that is extreme jabroni-ism. Necessity goods must be price controlled for they are staples and should never ever be used to gimmick up monies)
A business in New York gets to open and receive 10 years of cool-breezin' to get off the ground and become operational....yet in Quebec a business gets hit from all angles with obscene taxation and on top of it all these taxes are then siphoned out of the economy under obvious criminal and illegal means.
Look, I don't know, maybe Quebec is happy being 16th in North America...maybe they think that's cool or good enough....I don't know. Who Me? I'm not so sure about that. Some people try and be the best, you know, the best that nobody even never was...so to people like that, 16th kind of comes across as being pretty crappy.
If the Montreal Canadiens hockey club finished 16th in the league would you be proud of them? No. So why be proud of being 16th in the league in economic output?
Note: I'm not saying to eliminate taxes. Taxes are necessary to maintain the infrastructure of the region, and to keep the citizens of the region healthy and safe. Yet, there's a line that can be crossed with taxation where it just becomes a huge corrupt burden on your region. Like anything else you can have a "too much" or a "not enough" polarization and in the case of Quebec it's a BIG TIME "too much" situation.
The author of this article has a prestigious economics degree in Uncharted Waters 2: New Horizons from the ever-respected SNES school of business.