Posts Tagged ‘tax’

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Biden breaks taboo on taxing wealthy, showing Trudeau how to do it

Thursday, March 23rd, 2023

… their wealth is largely held in corporate stock and, unless they sell stock and trigger a capital gain, no income tax applies. The wealthy are a formidable interest group who play an enormous — although largely hidden — role in shaping the political agenda. Still, they’d have more trouble keeping a wealth tax off the agenda if our progressive politicians embraced the idea with the same gusto as the broad Canadian public.

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How much money does Canada’s health system really need?

Friday, March 3rd, 2023

Internationally, Canada spends more per capita on health care than many other OECD countries, but performs very poorly. … other than for long-term care, there is no need for health-care costs to rise dramatically over the coming decades – not if there are appropriate structural reforms and more integrated management.

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Canada needs a minimum tax on corporate book profits

Thursday, March 2nd, 2023

In 2021, tax avoidance by 123 of Canada’s largest corporations cost the public $30 billion… Corporate tax avoidance nearly doubled in 2021, compared to the pre-pandemic average. More robust policies are needed… A minimum tax on book profits is the major revenue generator within the Biden administration’s Inflation Reduction Act… If Canada had a 15-per-cent minimum tax on book profits in 2021, it would have reduced the tax gap by $11 billion.

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Canada’s vanishing health care crisis

Saturday, February 18th, 2023

Health care spending is actually declining this year on average, once population growth is factored in… Only the three Maritime provinces are planning to boost health care spending faster than the increase in the federal transfer…  the contrast between the urgent rhetoric of the premiers and the tepid growth of spending underscores, again, the need to firmly place the responsibility for health care funding on the provinces.

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Laugh at the farcical scandals of John Tory and Doug Ford but the joke’s on the powerless

Wednesday, February 15th, 2023

… for-profit nursing homes had four times as many COVID-19 deaths as city-run homes… Ontario announced funding for new nursing home beds in 2022…  adding 200 new police won’t decrease wait times for police to respond to calls. It doesn’t support the idea that more police equals less crime, either. But data shows reducing poverty can reduce crime… The proposed 2023 budget cuts $4.3 million from jobs and social services. 

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COVID ‘blank cheque’: Report finds large corporations spent billions on dividends and share buybacks while receiving government wage subsidies

Friday, February 10th, 2023

Canadians For Tax Fairness found 37 corporations that had received the Canada Emergency Wage Subsidy and spent a total of $81.3 billion on dividends, $41.1 billion on share buybacks and $51.1 billion on taking over other companies… up to $9.9 billion may have gone to companies which weren’t eligible to receive it… some kind of clawback mechanism is needed, either for this time around, or when designing future programs.

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Private foundations sit on billions of dollars while charities struggle

Thursday, February 9th, 2023

We don’t need more tax breaks for charitable giving — Canada already has among the world’s most generous charitable tax breaks, and we are overflowing with charitable funds. It’s just that we can’t get at them. What’s needed is a major overhaul of Canada’s two-tier charity sector where private foundations controlled by wealthy families sit on mountains of idle cash while thousands of working charities are starved for funds as they struggle to deliver services to Canadians.

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How Ottawa can help fix health care: first, send less money

Friday, January 27th, 2023

When one level of government is raising the money, while another spends it, it makes it hard for the public to know who to hold to account for any of the system’s ills. That, too, dulls any lingering incentive for reform…  without Ottawa to share the blame for underperformance, provincial governments would have a stronger incentive to organize the delivery of health care so as to achieve greater quality and public satisfaction per dollar spent.”

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‘The rich and everybody else’: Financial inequality in Canada keeps growing 

Thursday, January 26th, 2023

Fifty per cent of  households are earning less than $16,000 to $17,000. That’s even after taxes and transfers and benefits. That gap between the 50 per cent of the population, roughly 8 million people or more, and that top 1 per cent of earners, a very small slice of the working population, is huge. And it’s growing bigger… Capitalism and democracy have always been in contestation. People want votes. People want rights. And they see that, usually, they can’t get them, because there’s a whole bunch of rich people who aren’t willing to do it.

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Where are your inflation dollars going? Inflation broken down by profit, wages and industry

Tuesday, January 24th, 2023

The data is clear—the largest driver of inflation is corporate profits… Of every dollar spent on higher prices in the last two years, 47 cents was converted into corporate profits in four industries, led by mining, oil and gas extraction, explains a new report by the Canadian Centre for Policy Alternatives (CCPA).

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