Posts Tagged ‘tax’

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Justin Trudeau’s carbon tax is revenue neutral… for now

Wednesday, April 24th, 2019

… higher-income Canadians will only be refunded a fraction of the carbon taxes they’ll pay, while low-income Canadians, in general, will get back more than the tax costs them… It punishes people who use more energy, usually those with higher incomes, who tend to have bigger houses and more luxurious cars, or boats, or cottages, and it rewards people who use less… In general, conservatives aren’t keen on wealth redistribution. Liberals are.

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The push is on to reinvent American capitalism

Tuesday, April 23rd, 2019

In today’s America, just 16,000 families account for US$6-trillion in assets. That is equal to the total wealth of two-thirds of all U.S. families. While so many go wanting, thousands have so much wealth they couldn’t spend it all if they lived to be 800. It’s irrational, and one of the many reasons rethinking capitalism is overdue… Mr. Trump triumphantly points to continued good growth and near record-low unemployment numbers… But … Republicans are vulnerable on the inequality issue. Their tax cut was a giveaway to the wealthy and to Corporate America.

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Isn’t it time the wealthy paid fair taxes?

Monday, April 22nd, 2019

Canada’s richest 87 families are today richer than the bottom third of Canadian families — 12 million Canadians. Surely, if we set a reasonable exemption level — perhaps $1 million for a house, family business or other investments — it would be fair to tax the remaining capital gains at inheritance. Most G7 countries do… Ideally, one would want to both reduce the capital gains exemption (at least to 25 per cent) and introduce an inheritance tax. The two are complementary.

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There’s nothing moderate about this Ontario budget

Saturday, April 20th, 2019

… the cuts are large. But so, too, are the tax cuts that rob the province of billions… the government took billions of dollars from the budget. That lost revenue, plus new corporate tax breaks, will drain an average of $3.6 billion a year from provincial coffers over the next three years. That money could have stayed in vital programs; it could have reduced the deficit. It did neither… But as a public relations exercise designed to conceal bad news, the budget did its job.

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NDP revives Tory bill curbing taxpayer-funded partisan ads in bid to embarrass Ford’s government

Wednesday, April 17th, 2019

NDP MPP Taras Natyshak is tabling private member’s legislation identical to a bill introduced by Tory MPP Sylvia Jones two years ago that would revive the auditor general’s powers to veto commercials deemed to be politically partisan… “Voting against this bill would be the height of hypocrisy,” he said, noting Jones and much of Ford’s cabinet strongly endorsed the measures in 2017.

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The crushing impact of social media freeloaders

Monday, April 15th, 2019

Here are two breathtaking stats: 65 per cent share and 80 per cent margin. Those are market experts’ estimates of share of ad revenues and the profit margins of the social media duopoly in Canada. No other ad business in the world has that stranglehold, no other media business earns one quarter of those stratospheric profit margins. Unlike them, their Canadian television, newspaper and magazine competitors pay taxes.

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Federal government moves to lift alcohol trade restrictions, urges provinces to do the same

Wednesday, April 10th, 2019

… the legislation, once passed, will remove the federal requirement that alcohol moving from one province to another go through a provincial liquor authority… The Supreme Court of Canada unanimously ruled last April that provincial and territorial governments have the authority to restrict imports of goods from other jurisdictions and that Canadians do not have a constitutional right to buy and freely transport alcohol across provincial and territorial borders.

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How Billionaires and Big Pharma Battled Canada’s National Drug Plan

Monday, April 8th, 2019

Batt found powerful players — including insurance and drug companies — profit from the current system. And that they had unleashed a major, expensive lobbying, PR and public campaign to fight a national pharmacare program… It’s time Canadians enjoyed a common sense pharmacare plan built to provide coverage for everyone, control costs and keep prices down. It’s time to do what’s right for the public’s health and the country’s economy.

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NDP pharmacare plan sets a new standard

Monday, April 8th, 2019

… families now enjoying private drug insurance would save $550 a year on average under a universal public scheme. Employers that offer drug coverage to their workers would pay on average $600 less per employee. In short, Canadians would pay more in taxes for pharmaceuticals but less overall. The NDP is sketchy on the politics of its plan, particularly on how to get the provinces to agree.

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Premiers who fight carbon tax ignore climate change at their peril

Friday, April 5th, 2019

Scientists and economists have been telling us for years that climate change is an issue for our health and our planet and an opportunity for our economy. Yet some Conservative politicians deny this… When farmers lose their crops like they did this summer, when your neighbours’ basements are flooded because of quicker snowmelts and more rain, when jobs start to leave because our economies haven’t kept up with the clean demand — will you have a plan then?

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