"I won't lower your taxes, but I won't raise them, either."

Remember those words They were uttered by Liberal leader Dalton McGuinty when he was fighting for Ontarians' votes in the 2003 provincial election. They formed the centerpiece of his campaign and were a key factor in defeating the Tory government of then-Premier Ernie Eves.

But McGuinty wasn't content with a simple oral promise. He went even further, signing a written Taxpayer Protection Pledge at a full-court press conference with the Canadian Taxpayers Federation. He promised to uphold the Taxpayer Protection and Balanced Budget Acts which the CTF had fought so hard to have enacted. He pledged to not raise taxes without a referendum and to not run deficits.

Of course we all know the sad ending to this hopeful tale. Since he has been in office, McGuinty has broken all his promises to taxpayers, and more. Taxes are higher than ever and the province still has an annual deficit of over a billion dollars. McGuinty's pledge lingers like a distant memory, or a bad smell, especially if you're currently labouring over your 2005 Ontario tax return.

If you're a middle-class taxpayer, your personal income tax rate has increased 16% since 2003. Every cent of tax relief earned under the previous government has been clawed back. On top of this, you now get to pay for eye care, chiropractic care and physiotherapy yourself. It's hard to see how the "Health Tax" is making Ontarians healthier when they are spending more for fewer services and still waiting in line for treatment.

If you're a business owner, chances are you're fuming too. Not only did McGuinty cancel business tax cuts when he took power, but he also removed the cap on municipal business tax increases. The result Business is paying more and doing less, creating only half the number of new jobs per year than in 2003. You can pin part of the blame on the soaring Canadian dollar, but there's no denying the fact that higher taxes kill jobs.

But it's not just direct tax increases that should be of concern to taxpayers, it's the indirect increases as well. Bill 206, an act to revise the Ontario Municipal Employees Retirement System, is now law, boosting the pension benefits of firefighters, police and other emergency workers. And who's going to foot the bigger bill According to most cities and towns, it's municipal taxpayers, through an increase in their property taxes.

Then there's Bill 53, the new City of Toronto Act. There's a reason the premier had to amend the Taxpayer Protection Act before introducing this new law. Simply put: it allows the City of Toronto to do his dirty work for him. Under the Act, Toronto will be able to raise its own taxes on entertainment, alcohol and cigarettes, and impose new regulations, licenses, fees and fines. And just in case you think this is only Toronto's problem, think again. Other cities like Hamilton and Ottawa are already eyeing the new Act with tax-happy glee, as a template for their municipalities.

"I won't lower your taxes, but I won't raise them either." Whether directly or indirectly, Premier McGuinty's failure to keep that election promise is hitting Ontarians in the wallet every day. The question remains: will it hit the premier and his government in the ballot box when voters go to polls in October 2007