Archive for the ‘Debates’ Category
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Strong loonie shifting Canadian production offshore: EDC
Monday, February 14th, 2011
Feb. 10, 2011
Canadian firms are increasingly shifting their production offshore in response to the pressures of globalization and the strong loonie, Export Development Canada says. A new study from the Crown corporation shows sales from foreign affiliates of Canadian firms grew by more than twice the rate of exports from firms inside Canada between the years 2000 and 2008… As well, overseas investment assets by Canadian firms nearly doubled from $356-billion to nearly $650-billion during the period… “Ultimately what it does is create jobs that are higher up the value chain in Canada”…
Tags: economy, globalization, standard of living
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To say minimum wage hike kills jobs is fear mongering
Monday, February 14th, 2011
February 13, 2011
Minimumwage increases in other provinces have not led to job losses but rather have led to lower rates of poverty and higher productivity… A survey released by the Greater Victoria Chamber of Commerce found 85 per cent of its members actually support increasing the minimum wage and 56 per cent say the minimum wage should be at least $10 an hour. Even some B.C. Liberals now admit it was wrong to freeze the minimum wage for 10 years.
Tags: economy, ideology, standard of living
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Addressing training needs through EI is critical
Sunday, February 13th, 2011
February 12, 2011
… the EI rules redistribute benefits in an inequitable manner. The rules divide Canada into 58 regions. In regions where there is chronic unemployment and seasonal work, benefits are easier to access and paid out for longer periods of entitlement. When Ontario’s manufacturing sector shed jobs, employment insurance rules were inflexible and unable to respond quickly to a vastly different job market. Furthermore, the artificially defined regions meant workers laid off at the same Windsor factory qualified for a different benefit period depending on whether they lived in Tilbury or Windsor.
Tags: economy, globalization, ideology, participation, rights
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The issue is distribution of tax burden
Sunday, February 13th, 2011
Feb 13 2011
… the actual percentage paid by corporations… appears to be considerably less than the published rates. In fact, thanks to a variety of perks like accelerated depreciation rates, hiring incentives, etc., some corporations even end up paying $0… I do not object to lower taxes on small businesses providing that they meet certain conditions, including wages and working conditions that are in-line with the overall norms in Canada: evidence of reinvestment in business improvement vs. the owners pocketing these funds or expensing personal items as business purchases.
Tags: economy, globalization, ideology, standard of living, tax
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McGuinty freezes minimum wage
Saturday, February 12th, 2011
Feb 11 2011
Ontario’s lowest earners will see their wages frozen this year for the first time in seven years, sparking fierce criticism from labour groups… while Ontario’s minimum wage is highest among provinces, Nunavut leads the country at $11.00. McGuinty said many employers were only now recovering from the global economic downturn of the last few years, and the wage freeze would help them get back on their feet… The Ontario Federation of Labour said minimum-wage earners were already struggling to cope with rising food, housing and other costs of living.
Tags: economy, ideology, rights, standard of living
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Ignatieff just doesn’t get it [Corporate Tax Cuts]
Saturday, February 12th, 2011
February 11, 2011
A recent OECD study, Do Tax Structures Affect Aggregate Economic Growth?, explores the direct relationship between various taxes and economic growth for 21 developed countries over the period 1971 to 2004. While taxes on personal income, consumption and property all had negative effects on per-person income growth, corporate income taxes had the most damaging effect… Yet Michael Ignatieff believes that corporate tax cuts are “giveaways” that “fatten profits” for the “richest and most powerful corporations.”
Tags: economy, globalization, ideology, standard of living, tax
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Toronto’s tax advantage
Thursday, February 10th, 2011
Feb 08 2011
… Canada’s relatively strong economic fundamentals, the strength of our regulatory and business environment, the world-acknowledged safety and stability of our banking system, and the quality of our talent… provide strong incentive for the world’s leading financial services operations to locate and expand their presence here — thus creating more jobs and investment. An important part of that story is Canada’s growing tax competitiveness. There are many factors that contribute to a company’s decision to locate or expand its operations — but tax rates rank high among them.
Tags: economy, globalization, ideology
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Tax-cut debate almost laughable
Wednesday, February 9th, 2011
February 8, 2011
… corporate income taxes aren’t paid by corporations nor are they paid by fat-cat corporate executives. They’re simply passed on by corporations in the form of lower salaries for workers or higher prices for consumers. On the other hand, corporate income taxes have very little to do with employment… Corporations left with a bit more money in their pockets will spend on exactly the mix of equipment and labour that boosts their fortunes the most, boosting both competitiveness and wages, but doing very little to change employment over the long run…
Tags: economy, globalization, ideology, standard of living, tax
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Why oil (not cars) drives the economy
Monday, February 7th, 2011
Feb. 07, 2011
Canada’s fortunes – and its currency – are now more closely tethered to oil than any other industry, including autos, forest products or agriculture… The oil and gas sector is now the dominant industrial contributor to Canada’s economy… Crude accounts for 20 per cent of Canadian exports, double its share in 2000… The energy-producing regions of the country gain wealth, population and influence. And some of the traditional haves of Confederation, including Ontario, look increasingly like have-nots, tied to a shrinking manufacturing sector.
Tags: economy, globalization, standard of living
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Five questions for promoters of corporate tax cuts
Friday, February 4th, 2011
Feb 03 2011
• What evidence does the government have that reducing corporate taxes stimulates job creation?… • How does Flaherty know corporations will use their tax cuts to hire workers rather than invest in labour-saving equipment, give their executives big bonuses, increase their shareholders’ dividends, facilitate mergers and acquisitions or simply sock the money away?… • Why is it good economic policy to shift an ever-growing portion of the tax burden from businesses (many of which are highly profitable) to individuals (many of whom are struggling to get back on their feet after the recession)?
Tags: economy, featured, ideology, standard of living, tax
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