• Community capitalism: A path to prosperity for First Nations

    Community capitalism generates so-called “own-source revenues” (OSR) – money that First Nations earn for themselves rather than receive from government transfers. We estimate that the total amount of OSR is now in excess of $3-billion a year (some First Nations do not make public reports). That’s a significant amount compared with the roughly $5.5-billion transferred to the same First Nations by governments in fiscal 2015-16.

  • The real pirates of the Caribbean

    … regardless of whether or not most tax haven users are withholding their taxes illegally, surely there is a more troubling moral and ethical factor to consider. It has to do with the ability of so many people to get away with not paying their taxes. They can do so because they’re rich. They can afford the expensive advice of high-priced lawyers and accountants who can exploit convenient loopholes and ambiguities in the tax laws. This explains the vast amount of taxes owed that never get collected.

  • Offshore tax havens are harmful to all Canadians

    … our federal leaders are so beholden to Canada’s richest men — their chief fundraisers — that substantive crackdowns on these schemes are being prorogued. These tax evasions are a spit in the eye to the Liberals’ fabled “middle class,” let alone to the 12 million Canadians who collectively own less than our richest 100 families… It seems that democracy is on sale. The rich families finance politicians to fight elections and, as a quid pro quo, politicians protect their wealth through favourable legislation.

  • How will governments solve the tax haven riddle?

    The entry price for these offshore structures means that they’re beyond the reach of everyone except those whom the industry refers to as UHNWIs — ultra high net worth individuals. In fact, the majority of wealth in tax havens belongs to those worth more than $50 million. These legal offshore tax shelters reserved for the elite create a two-tiered tax system — where the wealthy stockpile their cash tax free and everyone else pays to make up for it.

  • ‘Reserve army’ of precariously employed keeps lid on wages

    The best explanation for very soft inflation in Canada is probably continued slack in the job market. The Bank of Canada does note… the continuing very low participation rate for young people, suggesting we are still short of a tight job market… wage pressures and inflation might remain persistently low even with a low unemployment rate due to the seemingly inexorable rise of precarious work.

  • Federal government can and must put pensioners first

    The federal government can and must ensure bankruptcy laws put pensioners at the front of the line. And it can go one very important step further: working with the provinces and territories to create Canada-wide mandatory pension insurance. Such a system would guarantee monthly pensions up to $2,500 whenever an employer with an underfunded pension plan… It would be paid for by pension funds, a fair trade-off, given their tax-exempt status.

  • Kids short-changed

    So, Royal Bank of Canada economist Josh Nye and Bank of Montreal chief economist Doug Porter would prefer smaller deficits… Did they not notice that the 2016 census demonstrated that a shocking 17 per cent of Canadian children live in poverty? Do they not understand that… child poverty is a strong drag on economic growth and that child benefits are necessary to decrease child poverty and economic growth? How far away is Bay Street from the real world that Canadians experience?

  • Caledon praises federal Economic Statement

    As a non-stigmatizing, inclusive program, the Canada Child Benefit delivers its benefits to all eligible families through the same vehicle, the personal income tax. It is portable, providing a stable and assured supplement to income no matter where families live or move. It is progressive, meaning benefits decline as incomes rise. What you see is what you get because benefits are not subject to income tax. The program pays the same amount to all families with the same income, regardless of the source of that income, where they live or family type.

  • Ontario will have to hike taxes or cut spending, watchdog warns

    “As the baby-boomers continue to age, they will require more resources from Ontario’s health care system, increasing pressure on government spending.” … The FAO estimated that to meet that target, Queen’s Park would have to fill an annual hole of about $6.5 billion… “Perhaps worst of all, the FAO says continuing on this course will unfairly shift the fiscal burden from baby boomers to younger Ontarians.”

  • Canada may be entering ‘sweet part’ of business cycle, Stephen Poloz says

    The Canada Child Benefit has had a “pretty significant” impact on the economy, Poloz said, adding it could be one of the reasons the country has seen rising labour-force participation. “What it did is put a floor under some folks,” Poloz said, adding it may have allowed formerly stay-at-home parents to afford child care or a second car and therefore more easily re-enter the workforce.