A recent poll indicates that a significant portion of Canadians favor increasing the national debt over raising personal income taxes to fund the federal government's expanded military commitments. The survey, conducted by Nanos Research for The Globe and Mail, revealed that nearly half of the respondents expressed support for the debt option.
The survey results showed a split in opinion regarding the debt-financing approach. While 15% strongly supported it, and 34% somewhat supported it. Conversely, 46% of respondents opposed or somewhat opposed increasing the national debt for military spending.
Canada is implementing its most substantial increase in military spending in over seven decades. Driven by pressure from the United States and facing challenges from various nations, the government plans to allocate up to $150 billion annually to defense within the next decade. This represents a significant increase from the current projected defense spending of approximately $63 billion. The plan aims to raise defense spending from the current 2% of annual economic output to 5%.
The research also examined the views of different age groups. Respondents aged 55 and over were more likely to support debt financing for defense, with 61% backing the idea. Among those aged 35 to 54, 46% supported the idea, while 36% of those aged 18 to 34 expressed support.
Furthermore, the survey found that a majority of Canadians oppose or somewhat oppose increasing personal income taxes to finance the increased military capacity. The split showed 38% opposing and 22% somewhat opposing the idea. Respondents over 55 were more likely to support the increase in personal income taxes, with 49% of respondents in that cohort supporting the idea.
Pollster Nik Nanos emphasized the importance of the government and the opposition parties being cautious in their approach to financing expanded military programs. He stated that clarity on how increased military spending will be funded is crucial to avoid Canadians associating higher taxes with higher defense costs. The government's acceleration of spending exacerbates this risk.
The Nanos research involved a telephone and online survey of 1,047 respondents aged 18 and over, conducted between July 2 and 6. The margin of error for the survey is plus-or-minus three percentage points, 19 times out of 20. Respondents were asked about their views on increasing personal income taxes or increasing the national debt to fund the expansion of Canada's military capacity.
5 Comments
Bermudez
Raising military spending is a must. The debt is the best solution.
Coccinella
Debt is a burden on future generations. We should pay as we go, even if it means a small tax increase.
Comandante
The government should show us why the increases are justified. We need actual cost-benefit analysis, not just a spending spree.
Mariposa
I'm glad to see the government prioritizing the military. Personal income tax creates immediate economic pains.
Comandante
The government wants to avoid making the hard choices. This is short-sighted and irresponsible!