Posts Tagged ‘tax’

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Liberals are the best choice for Canada

Thursday, October 17th, 2019

… despite the failings of the Liberals, this is the time to focus on what’s truly important in the long run… to make sure the wealth is more evenly shared. It cut taxes on the middle class, raised them on the wealthy and directed a lot more support to families with the new Canada Child Benefit… A re-elected Liberal government would also add to the child benefit that has been so vital to reducing poverty. It would finally put a tax on Big Tech companies that haven’t been paying their share. And, very importantly, it would stick to its plan to reduce carbon emissions

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The tax cuts you might vote for, but might not notice

Tuesday, October 15th, 2019

Would someone earning over $60,000 notice that they got another $420 a year by 2023 through the Conservative Party’s Universal Tax Cut? … if someone handed you $420 in 2023, you’d notice. But that’s not how this tax cut is going to be delivered. It’ll be incremental… Surely there must be a better way to spend over $5.5 billion a year. Couldn’t this money be better spent on healthcare, housing, infrastructure, and/or paying down the deficit?

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It’s a No-Brainer — Tax the Billionaires!

Monday, October 14th, 2019

TheTyee.ca – Opinion 9 Oct 2019.   Michal Rozworski , TheTyee.ca Michal Rozworski is an economist, writer and author (with Leigh Phillips) of The People’s Republic of Walmart. He is a research associate with the Canadian Centre for Policy Alternatives. A wealth tax wouldn’t just bring in revenue. It would curb the out-of-control political power of the […]

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The Affordability Crisis and the 2019 Election

Friday, October 11th, 2019

Canadians have a general feeling of ‘affordability anxiety’ leading into the federal election. For this reason, the Broadbent Institute has created a series of fact sheets that look into three major issues effecting affordability — housing, healthcare and taxes, during the federal election… each fact sheet will include information on a topic as it relates to affordability and the commitments and/or solutions each party has put forward.

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Ford’s failing formula: Fewer teachers, worse schools

Monday, September 30th, 2019

The government’s funding plans are “well below core education cost drivers,” the report states. They don’t keep up with inflation, let alone student population growth. So the funding situation for schools is set to get worse, not better… the Ford government’s education changes were never about making education better. They were designed to fix a provincial budget problem largely of Ford’s own making.

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Don’t Fret over Deficits and Debt

Thursday, September 26th, 2019

In 2017-18, federal program spending was 14.5% of GDP—an increase of 1.6 percentage points from 2015, but still shy of postwar levels — and slated to fall to 13.8% by 2023-24. On the other side of the ledger, federal revenues are also near all-time lows relative to GDP. Revenues as a share of GDP, at 14.5%, are two percentage points lower than the 50-year average of 16.4%, representing an annual loss of more than $40 billion.

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The major federal parties are promising a stampede of tax giveaways, with no policy plan

Wednesday, September 25th, 2019

… Canada is operating with an antiquated tax system that was devised in the 1960s and implemented (decidedly imperfectly) in the early 1970s. It was built for a Canadian economy that isn’t even recognizable any more, in a global economic landscape that is utterly transformed… It needs a massive rebuild… rethought from the bottom up, if it is to be a catalyst for Canadian competitiveness this century rather than an impediment.

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Canada’s top 1 per cent saw fastest income acceleration, overall decrease in taxes

Wednesday, September 25th, 2019

The incomes of Canada’s top one per cent grew at a faster pace than everyone else in 2017 — and, overall, they saw their taxes edge down, says a new study… In 2016, the Liberal government increased the tax rate on income in the highest bracket. But the Statistics Canada report says that, even with the boost, taxes declined for those with the highest incomes because of reductions at the provincial level…

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Ford government’s child-care tax credit not much help to low-income families, watchdog says

Wednesday, September 25th, 2019

… two-thirds of the estimated $460 million annual cost of the tax credit will go to families who make more than $63,700 a year. That is because low-income families pay very little income tax and are unlikely to spend their limited income on child care… Ontario’s tax credit would need to triple to bring women’s labour force participation up to the level of Quebec… where 86.7 per cent of women with young children are working

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Should there be a wealth tax on the very rich?

Wednesday, September 25th, 2019

One per cent of net worth is a very modest level of taxation. With a wealth tax at that level, the fewer than 10,000 Canadian families who would pay it wouldn’t be forced to change their lifestyles in any way. But Canada wide, the money raised could do a lot of good… [but] Wealth taxes… can trigger problematic responses… are an administrative nightmare. And they just plain don’t bring in as much revenue as their proponents hope.

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