• Hot!

    Two worlds collide [Ontario Election 2018]

    … governments that are afraid to raise taxes have two choices—go into deficit or sell off public assets. Part of Wynne’s unpopularity rests on this fundamental dilemma. She decided to both go into deficit and sell off public assets, namely the province’s majority shares in Hydro One. Outrageously high hydro bills ensued and Wynne is having trouble living that down… The moral of the story is that activist premiers may be capable of moving the needle on key social policies, but unless they’re equally progressive on the revenue side of the equation, it’s hard to strike a true balance.

  • Pharmacare: Focus on Canadians who need it most

    Ensuring that Canadians have access to prescription drugs should be a top priority… One single, nationally mandated pharmacare program would mean dissolving every existing provincially funded and employer-funded plan. It would likely mean one single, much smaller formulary (list of drugs), and would create opportunities for potential savings through bulk-buying. It would likely also create a large national bureaucracy and require a massive IT system … a national pharmacare plan may cover less than their existing plan.

  • Hydro One privatization is the reason voters distrust Kathleen Wynne

    The sell-off of public goods is the quintessence of neoliberalism… Ontario Hydro was a public undertaking funded by the public that returned benefits to all. You can’t sell it, you can only swipe it and hand it over, as Wynne did. The buyers won’t do anything to improve it; they’ll just squeeze it to extract profits. Classical economists of the 1700s and 1800s would’ve called them rentseekers — the ugliest players in capitalism.

  • National pharmacare is possible – but it won’t come easy

    While a single, national plan would theoretically save money on drug purchases, it would also mean a large-scale shifting of costs from the private sector to the public sector – a net $7.3-billion annually… The single biggest impediment to pharmacare is the unwillingness of federal, provincial and territorial governments to absorb those costs and then increase taxes to pay the bill – even if the consumer comes out paying less in the long run.

  • Bill Morneau is wrong to rule out universal pharmacare

    There will be no pharmacare “plan,” he said on Wednesday, but instead a pharmacare “strategy” that “deals with the gaps,” is “fiscally responsible” and “doesn’t throw out the system that we currently have.” True to his government’s preference for targeted over universal programs, the finance minister seemed to be saying that supplements to the current dysfunctional mess will have to suffice.

  • Disruption we can get behind

    The main innovation of most self-declared disruptors is that they’ve found a way to take an even bigger share of the wealth from the workers who produce it than was possible before we all carried around the internet in our pockets. It’s not the disruptors who are the biggest problem, it’s the inequality—in incomes, in power and in access to scarce resources—which is worsening in Canada, to the benefit of a small number of established and disruptive elites alike.

  • 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.

  • 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.

  • Bernie Sanders lauds Canadian health-care system in Toronto speech

    “if you want to expand and protect health care or education, there are people out there in every country in the world who think it is more important to give tax breaks to the richest people … what we need to do is take those oligarchs on.” … What went mostly unsaid during Mr. Sanders’s speech is that while Canada’s health-care system can look great compared with that of the United States, it can still fare poorly next to comparable countries.