As was speculated earlier, the Conservative Party of Canada is proposing to cut the Goods and Services Tax rate from 7% to 5%. So far, the best reaction come from the University of Western Ontario’s Jim Davies, in this CBC story:

"Stupid, stupid, stupid, stupid," he said.

Aside from minor quibbles about the number of times the word ‘stupid’ should have been repeated (personally, I think I’d have said it five times, but Jim and I have different speech patterns), it’s hard to argue with that assessment.