Posts Tagged ‘tax’

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If you don’t have $20 million, relax. A wealth tax won’t touch you

Tuesday, April 13th, 2021

Canada’s wealthiest 87 families had wealth of $259 billion in 2016; our top 44 billionaires increased their wealth by more than $50 billion during the pandemic… 79 per cent of Canadians favour a wealth tax… In fact, a wealth tax would be the simplest, fairest and most effective way to collect billions of extra dollars of revenue a year, and to limit the power and political influence of the billionaire class… Here are some of the facile arguments being trotted out against a wealth tax.

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How the Canada Child Benefit is Performing

Friday, April 9th, 2021

The CCB had a larger effect than the enhanced UCCB, primarily because the amounts available to lower income families are greater, but both reduced poverty. Interestingly, neither had visible labour supply effects for our sample population, despite concerns that enhancing benefits would discourage work. Our work provides further evidence of the efficacy of these types of targeted cash transfers as an effective tool for redistribution and poverty reduction.

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Childcare Reform Key to Post-Covid Economic Recovery

Sunday, April 4th, 2021

Among a suite of reforms at the federal and provincial levels, the authors recommend: The existing Child Care Expense Deduction (CCED), a regressive tax deduction that reinforces patriarchal gender roles for parents, be replaced with a more generous, progressive and more frequently paid refundable tax credit… Provinces… increase childcare spaces… a single, dedicated and permanent [federal] transfer to provinces.

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Taxing extreme wealth to offset the costs of the pandemic would be unquestionably fair

Monday, March 29th, 2021

… we should look to new tax measures on extreme wealth transfers, including inheritance taxes, and to changes in the tax treatment of investment income to ensure more equitable treatment in relation to employment income. But for now, as we look to Budget 2021, we should ask those with extreme wealth to pay for our national recovery.

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Tax Index 2021: Line by line break-up of who’s paying and dodging taxes

Wednesday, March 24th, 2021

Canada’s top 20 billionaires made $37 billion during the pandemic, while thousands lost jobs and took pay cuts… Canada’s income gap is at its widest since the 1980s and upward income mobility has significantly reduced for most of us… A 1% tax on wealth over $20 million would raise $10 billion in the first year alone.

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Instead of a universal basic income, governments should enrich existing social programs

Monday, February 15th, 2021

… while UBI is desirable in principle, it’s not a magic solution to the intricate and perennial problems of poverty and income inequality. Furthermore, its implementation in Canada is not financially, administratively, politically or constitutionally feasible.

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Bare-knuckle capitalism has no place in nursing homes

Thursday, January 14th, 2021

Over the past decade, Chartwell has distributed $798 million to shareholders and paid its executives $47.3 million, including an annual salary of $229,500 for the former premier’s part-time chairmanship, which he still holds. Mike Harris’ involvement in the dubious rise of privatization — and financialization — in the long-term care industry makes it all the more outrageous that the Ford government recently awarded him the Order of Ontario, even as the pandemic continues…

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Ottawa urged to ban CEO bonuses if company received wage subsidy

Tuesday, January 5th, 2021

[The CCPA] believes that Canada should follow other developed countries like Spain and the Netherlands that explicitly prohibit bonuses and dividends if they receive wage subsidies. It also wants to exclude companies from substantially increasing executive salaries to prevent them from bypassing restrictions on bonuses… The CCPA also thinks Ottawa should introduce a top marginal tax bracket to help pay for the large deficit caused by its response to COVID-19.

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From sunny ways to icy reception: How the Liberals are handling issues involving Big Tech firms

Wednesday, December 23rd, 2020

“… we’ve come to the realization that this great, wonderful promise of the free internet… came at a pretty steep cost”… Ottawa’s more aggressive push also comes at a time of rising public distrust of the tech giants worldwide… they appear to have public opinion on their side… polls… showed broad support for policies such as more social-media regulation and requiring digital platforms to charge sales tax.

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CRA names companies that received federal emergency wage subsidy

Tuesday, December 22nd, 2020

… more than 368,000 businesses, non-profits and charities in Canada have received the Canada Emergency Wage Subsidy (CEWS)… A recent review of CEWS disclosures by the Financial Post found that at least 68 publicly traded Canadian companies continued to pay out shareholder dividends while receiving the wage subsidy. The review found those companies got at least $1-billion in CEWS and paid out more than $5-billion in dividends.

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