Posts Tagged ‘tax’
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Canada’s shift to a more regressive tax system, 2004 to 2022
Thursday, May 9th, 2024
Taxation of the wealthiest is a central means to reduce inequality, provide adequate shared public infrastructure and services that benefit all, and create opportunities for all to live a decent life… Despite the progressive personal income tax system, when we look at all taxes and income, the tax system is only moderately progressive at the bottom, flat through the middle and regressive at the top.
Tags: economy, ideology, jurisdiction, standard of living, tax
Posted in Equality History | No Comments »
Wealthy Canadians get huge tax breaks, even with budget changes to capital gains
Thursday, April 25th, 2024
The tax system is much tougher on working people, who make up the vast majority of Canadians, including almost everyone in the lower and middle class. Working people pay taxes on their full working incomes, with few exemptions, and their taxes are deducted before they even receive their paycheques. Then there are those who own capital — stocks, bonds and other property… “A buck is a buck is a buck.” The budget’s tax changes are a small but important step in that direction.
Tags: budget, featured, ideology, standard of living, tax
Posted in Equality Policy Context | No Comments »
We are rich Canadians and we support higher capital gains taxes
Tuesday, April 23rd, 2024
Ottawa wants to raise taxes for Canada’s ultra-rich. Rich people like us want that, too… with 1 per cent of the country’s residents holding over a quarter of all wealth. We need higher taxes to level out this rising wealth inequality… to fund new spending on priorities like Old Age Security, clean economy, medical care, child care, and housing, but it doesn’t go far enough to address class distortions… we’d also like to see a “super wealth tax,” an inheritance tax, and progressive property taxes
Tags: budget, economy, featured, ideology, standard of living, tax
Posted in Governance Policy Context | No Comments »
Trudeau would be wise to raise the GST to 7 per cent instead of reforming the capital gains tax
Tuesday, April 23rd, 2024
… the GST has underwritten Canada’s social safety net for more than 30 years. In 2006… the GST accounted for 30.6 per cent of all federal tax revenue… Prime Minister Justin Trudeau and finance minister Chrystia Freeland have sought refuge in progressive populism with their plan to expand the capital gains tax. But the sustainable policy choice would be to put those two points back on the GST.
Tags: budget, economy, tax
Posted in Governance Debates | No Comments »
Liberals tax the rich, but not enough to be considered populist
Thursday, April 18th, 2024
… in recent decades, business interests have strong-armed governments into redesigning the marketplace to favour their own interests, through tax and regulatory changes, and the rewriting of labour laws to disempower workers. These “neo-liberal” changes haven’t brought us the productivity gains that were promised, but they have made us a much less equal society… We need to reverse the “neo-liberal” policies that are responsible for such extreme inequality.
Tags: budget, ideology, standard of living, tax
Posted in Equality Policy Context | No Comments »
Liberal budget hits a home run on housing, but plays small ball on care economy
Wednesday, April 17th, 2024
Here are three ways federal small ball could deliver big results without big spends in the coming months: Child care Workforce Deals… with a focus on workforce attraction and retention… tracking trends in the investments occurring in our long-term care, child care and health-care sectors… examining ways of putting new guardrails on public funding… Care services such as child care, long-term care, medical or dental community clinics can be a built-in feature of new housing and infrastructure developments.
Tags: budget, economy, Health, housing, jurisdiction, standard of living, tax
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Federal government goes big on housing—is it enough?
Wednesday, April 17th, 2024
2024 federal budget makes biggest investments in housing, care economy in generations with its second-to-last budget before an election… “This government has done more for housing than previous, more recent federal governments…” it will impose a higher tax on capital gains above $250,000 a year… “While the pharmacare program is still quite limited in scope… Combined with dental care, the confidence and supply agreement has driven major changes in the health care landscape in a very short period of time.”
Tags: Health, housing, participation, pharmaceutical, standard of living, tax
Posted in Governance Policy Context | No Comments »
Democracy Is Under Siege Globally. Canada Is Being Tested
Monday, April 8th, 2024
Finkelstein preached that you didn’t need a vision to win in politics, just good polling that revealed what people were against. Once that was established, the goal became tying the unpopular thing — immigration, carbon tax, inflation — to a flesh and blood political “enemy.” … The idea was to avoid talking about your own positions and policies, the better to demonize your opponent. The objective was not to sell yourself but rather to destroy your opponent… repeating simplistic slogans… “Axe the tax.” “Not worth the price.” “Everything is broken.”
Tags: featured, globalization, housing, ideology, immigration, rights, tax
Posted in Governance Debates | No Comments »
Canada is bad at studying wealth inequality and we explain why that matters
Thursday, April 4th, 2024
Canada’s top 1 per cent owns 26 per cent of all wealth in Canada, and our top .01 per cent owns 12.4 per cent of all wealth. This is somewhat lower than the U.S. numbers, but it is much higher than official Statistics Canada numbers report… But looking only at income paints an incomplete picture because it ignores intergenerational wealth that has been inherited… wealth — or its absence — can be more important to the lives of individuals, as well as to broader social cohesion.
Tags: economy, ideology, participation, tax
Posted in Equality Debates | No Comments »
Ford government’s budget shortfall soars to $9.8 billion as tax revenues plunge
Wednesday, March 27th, 2024
“… We are going to follow through on a plan that is working — knowing that the higher deficits, compared to what we projected last year, will be time-limited while the return on investment will be felt for decades.” … settlements with public servants after the government’s Bill 124 wage-cap legislation was found to be unconstitutional have added billions in additional costs to the treasury. Under Ford, the provincial debt has soared by $116 billion to $462.9 billion, the largest debt of any subnational jurisdiction in the world.
Tags: budget, economy, ideology, jurisdiction, standard of living, tax
Posted in Governance Debates | No Comments »
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