• Canada’s wealthy may have started a tax revolt, and Ontario is the first to notice

    The provincial update revealed that personal income tax revenues in the country’s largest province were downgraded to come in nearly $2 billion lower than forecast in the spring budget, despite an upgrade in projected economic growth. No explanation was offered for this unusual set of circumstances — tax revenues should rise in a growing economy — but the suspicion is that high-earning Canadians are fed up seeing more than 50 cents on every dollar they earn over $200,000 taken by the taxman.

  • You know, there’s a reason no one’s put in a guaranteed annual income yet

    The idea of a “guarantee” is uncontroversial enough: we’ve already accepted that Canadians are entitled to a certain minimal standard of living. Why not make that implicit guarantee an explicit one? … Unless you’re willing to advocate for a drastic increase in taxes, the responsible thing to do is abandon the impossible GAI dream and focus on what is possible with current levels of tax revenues.

  • 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.

  • Paving way for more women in workforce would boost economic growth, report says

    … the burden of unpaid care work, gender discrimination and violence, a lack of legal protection and reduced access to financial services… Removing those barriers could boost OECD growth by between 6 per cent and 20 per cent… “It’s about the sheer scope for growth — 6 per cent is what we arrived at for advanced economies; for emerging market countries it’s even higher… So why aren’t we going for it?”

  • Canadian tax hypocrisy that favours the rich must end: Broadbent

    Tax avoidance and evasion by the rich ultimately undermines democracy: it starves social programs and public services, increases after tax income and wealth inequality, and further concentrates economic resources in the hands of a few… Ordinary Canadians have a right to be angry that the very rich are being pampered by our political elites. The response should be broad-based, progressive tax reform to make the system much fairer and more transparent.

  • New family care policies provide more flexibility, but for whom?

    … because they continue to be based on the Employment Insurance (EI) system, the benefits may actually not be affordable to many… these levels of payments may actually not be a living wage and therefore may only benefit people at the higher income levels. In best practice Nordic countries, people get around 80 per cent of wages while on leave… most Canadians will not truly benefit from the greater flexibility provided.

  • Ottawa should do better on improving parental leave

    It’s difficult enough to sustain a household for 12 months under the current rules; doing without a full income for even longer will be a struggle for many… Second, it’s still extraordinarily difficult for parents who are working part-time or in other precarious work to access the EI parental leave program… third… Ottawa amended the Canada Labour Code for federally regulated workplaces… But that covers only 8 per cent of workers.

  • 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.

  • Paradise Papers tell a troubling story about money and power

    The Paradise Papers are doing nothing to soothe those who worry about the unseemly intertwining of money and power in politics or about the extent to which the economy is rigged by the few against the many. The government can do something about that. It can, for instance, close unfair and ineffective tax loopholes and collect what’s owed. Or it can sit back, defend the current arrangements and watch the cynicism grow.