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Taxing Excess Profits In Canada: An Urgent Proposal For ActionTaxing excess profits in Canada: An urgent proposal for action

Wednesday, November 27th, 2024

To raise funds urgently needed to address the climate and affordability crises and curb growing monopoly power, we recommend the implementation of an economy-wide windfall profits tax that could raise over $50 billion from publicly traded companies and a monopoly profits tax that could raise $8 billion annually.

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Corporate profits continue to rise as corporate taxes fall

Monday, October 21st, 2024

Rising corporate profits and falling corporate tax rates are related. Corporate tax cuts encourage higher profits by increasing the share of profits that shareholders get to keep. Proponents of cutting corporate taxes typically argue that it will promote investment and eventually lead to higher productivity. But, over the past 30 years, the opposite has happened. In the late 1990s, annual labour productivity growth was over 2%. Now, it is less than 1%. 

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