Posts Tagged ‘tax’

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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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Ottawa will take a hard look at companies that paid dividends while accepting COVID-19 supports, Justin Trudeau says

Sunday, December 20th, 2020

The program was meant to help companies avoid layoffs and keep employees on the payroll… 30 companies that paid out a combined total of $2 billion to shareholders between April and September while receiving the wage subsidy… Extendicare, the largest operator of private nursing homes in Canada, had paid nearly $10.5 million in dividends since April, while its home-care subsidiary was receiving millions of dollars from the wage subsidy.

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The die has been cast on Canada’s carbon tax. Now we just need the courage to implement it across the country

Wednesday, December 16th, 2020

… there are those who claim that our carbon-pricing policy is unfair, imposing higher costs on some… but Canada’s carbon pricing policy is obsessed with equity. It is revenue-neutral on a national basis, meaning that each province receives precisely the amount that carbon taxes would collect. It includes support mechanisms for the most vulnerable. And the carbon tax rebates received by most Canadians will exceed the carbon tax they pay. Only high polluters will be net losers

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Justin Trudeau goes all in on the carbon tax. It’s the right thing – for the environment, and the economy

Monday, December 14th, 2020

The aim is for people to do such a good job of reducing emissions, and thereby avoiding the tax, that revenues eventually spiral to zero.  The carbon tax’s goal is its own obsolescence… Among economists, putting a price on carbon is generally seen as the most efficient way to push people and businesses to use less carbon… In taking the 2030 climate goals seriously, and choosing carbon pricing to achieve them, Ottawa is making the right move, rather than the easy move.

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Premiers call dibs on federal money before it’s all spent

Friday, December 11th, 2020

Health care is provincial jurisdiction. They can levy taxes like Ottawa. If they need more money, they could raise taxes… A lot of what Ottawa does is sending money to people or provinces. But health care? … Mr. Trudeau doesn’t want to just send cheques. He wants to say he paid for something new and specific that Canadians want. He told the premiers that Ottawa might fund better long-term care, or pharmacare.

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Basic income hailed as key in kickstarting the economy in a post-pandemic Canada

Wednesday, December 9th, 2020

 A universal basic income would not only lift more than 3.2 million Canadians out of poverty, it would also create hundreds of thousands of new jobs, grow the economy by tens of billions of dollars and eventually pay for itself with increased tax revenues… the biggest message coming out of this (report) is that a basic income program can be designed in a sustainable way,” said Paul Smetanin, CANCEA president and one of the report’s authors. “It can be thought of as an investment as opposed to a cost.”

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Canada’s rapidly approaching fiscal crisis isn’t driven by the pandemic

Sunday, December 6th, 2020

… thanks to the remorseless arithmetic of population aging, with its crushing combination of higher costs (mostly for health care) and lower revenues (with fewer people of working age to earn income or pay taxes on it)… the provinces’ collective debt-to-GDP ratio is likely to hit 120 per cent by mid-century.

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