Posts Tagged ‘tax’

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Ottawa should stop clawbacks of pandemic benefits

Sunday, June 26th, 2022

Groups such as Campaign 2000, which advocates to eliminate child and family poverty, have… pressed the federal government to ensure that benefits and refundable tax credits such as the Canada Child Benefit are not clawed back and that any lost benefits are restored. (Ottawa did act to restore Guaranteed Income Supplement payments that had been reduced or eliminated because of pandemic benefits.)

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Workers didn’t cause this inflation. And they shouldn’t have to pay for it

Sunday, May 29th, 2022

So long as the actual causes of inflation are addressed (by fixing supply chains, energy prices, and housing), inflation would then decelerate, even as wages keep up. Contingent wage protections (like cost-of-living adjustments) would also maintain the purchasing value of wages, without prompting higher inflation. To the limited extent that domestic demand pressures are reinforcing higher prices, it is better to use more focused and fair contractionary measures to dampen spending.

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Energy companies profits are through the roof. They should share the wealth

Wednesday, May 18th, 2022

… the government backstopped the financial sector through the pandemic with billions of tax dollars that kept incomes up and the banks’ customers solvent. They benefited from government support, and now it’s time to pay some back… The energy companies are in a similar situation… The government ought to tax away some of the enormous profits pouring into the energy companies and use that money to support those being hit hardest.

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Ontario election: 4 ways Doug Ford has changed the province’s politics

Wednesday, May 18th, 2022

The Ford government’s agenda seems driven by instinct more than ideology… fundamentally reactive, and grounded in relatively short-term perspectives… [Its] most recent legislative moves have sought to further marginalize the roles of local governments in planning matters and to eliminate public consultation requirements as red tape… The overall decision-making model… is based on access, connections and political whim… The focus… on short-term savings for consumers.

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Ontario budget falls flat on funding for public services

Wednesday, May 4th, 2022

Despite all the spending, public services do not seem to be a priority… Normally, health spending must rise by at least 4.5% a year just to maintain services. The budget’s plan for health care is to cut it… Take [federally funded Early Learning & Child Care] out of the education budget and the net result is that, in a time of high inflation, education is almost certainly seeing a cut in real funding per student…

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A basic income would be an unfair, complicated and costly way to eliminate poverty

Thursday, April 28th, 2022

There are many solutions we can work on to eliminate poverty and inequity in Canada. But a GBI should not be one of them.  It’s time we abandoned this utopian dream for pragmatic, rigorously tested, targeted programs that will reduce poverty, provide skills and training and create an inclusive labour market.

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This tax ‘loophole’ has helped rich Canadians avoid millions in taxes for their private corporations. Now the government wants to shut it down

Sunday, April 10th, 2022

The government said this amendment to the Income Tax Act would increase federal revenues by an estimated $4.2 billion over five years, according to the budget tabled on April 7… It appears the CRA only began in recent years cracking down on this technique of shifting a private company’s status for tax purposes, although the strategy emerged as early as 2010… the government did not address several broader tax loopholes that it was expected to.

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Budget 2022: Some progress, but no need for panic at the country club

Friday, April 8th, 2022

Today’s federal commitment to create a national dental care program will help millions of Canadians, but there’s a huge missed opportunity to move forward on pharmacare, long-term care and needed health care spending to deal with the pandemic’s impact… Many Canadians are feeling the weight of living in uncertain times. They need better income security, better access to Employment Insurance if they lose their job, more affordable housing, and the world needs a bolder climate change plan than what’s on the table.

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Budget promises lower deficit, but more spending on housing, defence and social programs

Thursday, April 7th, 2022

To increase revenues, the government will introduce a new tax on financial institutions… [and] serves notice on high-income earners… to decide by next year if a wealth tax… is warranted… In addition to outlays for housing and dental care, the budget pegs new spending on climate action at $12.4 billion and more than $8 billion on national defence… [but] it fails to address the crisis in health care and long-term care with meaningful measures and money…

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Amid spiralling costs for Canadians and atrocities abroad, deficit is not a dirty word

Wednesday, April 6th, 2022

… business pages are full of opinions that say there’s already too much spending, deficits are dangerously high, and so any new spending must focus on supporting — surprise! — business, the self-proclaimed source of wealth creation… It’s very likely we are under-taxing some of the most profitable businesses, so yes, apart from borrowing, there’s a fix for the “how ya gonna pay for it?” crowd…  Those urging governments to trim spending look only at the costs of programs, and not the fiscal dividends of acting. 

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