Posts Tagged ‘tax’

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Toronto needs to pay for the needs of a major metropolis

Sunday, February 17th, 2019

… spending is low. A few shrill voices on the right squawk on about waste at City Hall, but the facts show the city is actually spending less per resident now than it did back in 2010, when the figures are adjusted for inflation… But how does Toronto compare to other cities? One measure is the annual growth in spending over the past few years, and there it turns out Toronto ranks right near the bottom — 27th out of 29 Ontario cities listed in a Fraser Institute survey last fall.

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Let us now give thanks for Michael Wilson’s GST

Wednesday, February 13th, 2019

The GST was designed to be revenue-neutral; its goal was not increasing government revenue but instead raising it in a smarter, more progressive and more economically efficient way… Value-added taxes tax spending and encourage saving. Traditional sales taxes are regressive, falling hardest on low-income people, but credits for low-income Canadians make the GST progressive. The revenue is fairly stable. The system of input credits makes tax evasion far less likely than under a sales tax.

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America’s rich are facing a reckoning. It’s about time

Tuesday, February 5th, 2019

A new Politico/Morning Consult poll released this week, as well as a recent Fox News poll, showed overwhelming support for more taxes on the wealthy. Even among Republicans, a majority are in favour of making the rich pay a greater share… They want to replace the neo-liberalism of the post-1980s with an economic paradigm which redistributes downward instead of up. It’s a tall order. Making the coddled class pay a larger share is necessary start.

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40% of Ontario full-time post-secondary students granted free tuition, CBC analysis shows

Monday, February 4th, 2019

“How many of them were able to quit a part-time job and focus solely on their studies because of this grant? How many of them didn’t need to access mental health resources this year because they weren’t worried about making ends meet?” … although 24 per cent more university students and 27 per cent more college students were issued financial aid in the 2017-18 academic year, the total number of students accessing higher education for the first time stayed virtually the same.

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Doug Ford is blowing smoke by warning about a recession

Wednesday, January 23rd, 2019

… all the evidence is that Ford is plain wrong about the likely effect of the Trudeau government’s plans for a carbon tax. Ninety per cent of the money collected by Ottawa will be sent back directly to Canadian families, with the rest invested in programs to combat climate change. If there’s a recession on the horizon, it won’t be provoked by that.

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Meet the Economist Advising BC on Whether to Go Ahead with a Basic Income

Monday, January 21st, 2019

Throughout the 1980s and into the 1990s, much of the growth in income inequality in Canada was tempered with taxes on higher-income people and generous social programs… “Somewhere around the mid-1990s, the bargain broke down,” Green said. Governments at all levels rolled back social spending and made tax cuts, allowing inequality to grow unchecked… “In a society this rich we should not have people living on the street.”

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Why BC’s Carbon Tax Worked

Tuesday, January 15th, 2019

If we’re ever going to get to a carbon neutral or carbon negative economy, placing a price on carbon is going to be a necessary part of that effort… Fortunately, there is a proven solution that facilitates the carbon dioxide emission reductions that carbon taxes are intended to achieve while also taking into account the burden these taxes impose upon society. Simply make the carbon tax revenue neutral, taking special care to use the money it generates to prioritize tax reductions for the poor, middle class and rural residents affected most.

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Canada’s Two-Parent Tax Trap and How to Fix It

Friday, January 4th, 2019

In 2017, about 9 percent of employed parents contemplating earning a few extra dollars, and about 13 percent of stay-at-home parents contemplating getting a job, faced an effective tax rate higher than 50 percent. Prohibitive effective tax rates matter because they may discourage work, particularly for the lower-earning parent in a family. Beyond not adding to the problem by piling on new income-tested benefits on top of existing ones, governments can help fix this

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Re-instating basic income in Ontario would help raise children out of poverty

Friday, January 4th, 2019

Premier Doug Ford and Prime Minister Justin Trudeau need to reinstate the basic income pilot. It’s inconsequential whether the provincial or federal government takes the initiative; quite simply it needs to be done… The cost of the Ontario basic income model would be about $30 billion a year. Costs could be recovered by eliminating Ontario Disability Support Programs (ODSP) and Ontario Works Programs (OW) and by adjusting tax incentives granted to high-income earners.

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Do you want a carbon tax, or do you want to be lied to?

Thursday, December 27th, 2018

… effective regulations to bring down emissions are not free. They cost people serious money, whether as taxpayers, ratepayers or consumers… One emerging conservative alternative to carbon pricing is working with business to spur the development of green technology. What that usually means is taxpayers giving subsidies to business… With emissions, you can have expensive and effective, or cheap and toothless… At least carbon taxes are transparently expensive.

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