Posts Tagged ‘budget’

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The rich say boosting the capital gains tax will hurt productivity, but it’s just not true. Time to do a little myth-busting

Monday, June 17th, 2024

Most academic economists support a higher inclusion rate, partly because it levels the playing field between different types of capital income. But the best motivation is $20 billion in revenue it will raise over five years, to support modest new programs announced in this budget. This will help fund school lunches, affordable housing initiatives, dental care and disability benefits — while still respecting Freeland’s fiscal “guardrails.”

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Pierre Poilievre’s vision for Canada: Heaven for the very rich and squat for everyone else

Friday, June 14th, 2024

… the real redistribution in recent years hasn’t been the small bit directed toward benefits for ordinary Canadians but rather the gush of money toward the wealthiest Canadians. In 2021, the richest .01 per cent saw their incomes grow on average by a stunning 30 per cent to $12.5 million a year, while the incomes of 14 million working Canadians actually declined, according to Statistics Canada.

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Years of corporate handouts achieved nothing. It’s time for something different

Thursday, June 13th, 2024

… corporate subsidies – either through tax incentives or direct funding and loans – now equal about $50-billion per year. That is slightly over one-half of the total amount of corporate taxes collected by the federal government and almost as much as they spend on health care.  only 20 per cent of these business subsidies aimed at increasing productivity actually boost real income for Canadians. The other 80 per cent are not only ineffective but have to be paid for by either more taxes or by decreasing spending on other priorities.

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Inside the Campaign to Kill a Step Toward Tax Fairness

Monday, June 10th, 2024

… interest groups don’t have to offer an alternative and can just snipe at proposals that they dislike. The capital gains change is expected to bring in more than $19 billion over the next five years. Anti-tax groups don’t need to explain where that money should come from, or what services should be cut if the tax is axed… But the process is a warning about the powerful forces that will battle any move to increase tax fairness, if it means the rich will pay more.

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Nigmendra Narain speaks truth about Ontario’s manufactured university crisis

Thursday, May 30th, 2024

ON funding $6000 below national average… this scarcity of university funding… has been completely manufactured by a provincial government bent on ‘saving tax-payer dollars’ by downloading costs onto individuals while encouraging public-private partnerships… Ontario’s ratio is currently 34 students : 1 professor. Contrast that with the rest of Canada averaging 23 students : 1 faculty.

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Doug Ford has bungled affordable housing and now Ottawa is rubbing his nose in it

Tuesday, May 14th, 2024

The federal government now says it will send funding directly to municipalities, cutting Ontario out of the equation entirely… Why can the two levels of government come together to build subsidized factories, but not subsidized housing? … Ultimately, the friction over funding may have less to do with personalities than priorities. In Ford’s Ontario, unaffordable factories count for more than affordable housing.

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Mark Carney had a chance to weigh in one of the defining issues facing Canada. The answer he gave suggests he isn’t ready for public life

Tuesday, May 14th, 2024

Around the world, almost no serious person continues to believe that cutting taxes on the wealthy will unlock growth for working and middle-income people. Most advanced industrial democracies are dealing with inequality and challenges to economic growth by rejecting market fundamentalism and investing in things like public transit, child care, affordable housing and ensuring that low- and middle-income people have money to spend in the local economy.

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Ontario has lost 5,000 classroom educators since 2018

Wednesday, May 8th, 2024

In 2024-2025, Ontario will have 4,990 fewer classroom educators than it would have had if the funding formula hadn’t changed since 2018-19. Under the new formula, kindergarten will have to make do with 1,600 fewer staff. Grades 4 to 8 will have almost 1,000 fewer staff. Grades 9 to 12 will lose almost 2,600 positions… Depriving Ontario’s children of educators is the worst thing this government can do for the future of this province.

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Wealthy Canadians get huge tax breaks, even with budget changes to capital gains

Thursday, April 25th, 2024

The tax system is much tougher on working people, who make up the vast majority of Canadians, including almost everyone in the lower and middle class. Working people pay taxes on their full working incomes, with few exemptions, and their taxes are deducted before they even receive their paycheques. Then there are those who own capital — stocks, bonds and other property… “A buck is a buck is a buck.” The budget’s tax changes are a small but important step in that direction.

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Canada disability benefit severely underfunded in Budget 2024 and Canadians with disabilities will pay the price

Thursday, April 25th, 2024

One-in-seven people who access food banks nationally rely on provincial disability income support. In many provinces, that means living more than $800 below the poverty line each month… it was never about seeing just another income support program come into effect. It was about extending the type of tangible support to Canadians with disabilities living in severe poverty, helping them overcome its relentless cycle.

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Posted in Inclusion Debates | No Comments »


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