The collective 'we' (i.e. the citizens of Toronto) are getting what we asked for - a government intent on taxing the city to death instead of making a modicum of effort to control expenses. We're being bled to death to fund endless varieties of sham schemes.
Actually, it's worse than most anyone can imagine. A municipal land transfer tax will take 1 - 2% of the value of homes and businesses. That's just for starters. Since city spending is growing 8% a year - what are these taxes going to be in a couple of years? Hold onto your horses (houses) - we could be in for a long term bear market in Toronto real-estate. One can be bullish on real estate in Peel and York.