Posts Tagged ‘tax’
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Federal spending tops $332 billion as revenue gets a $20 billion boost
… revenue was up by $20.1 billion, or 6.9 per cent, from 2016-17 to $313.6 billion. Driving part of that increase was an additional $9.9 billion in personal tax revenue. Officials said Friday said that was in part due to a rebound of personal tax revenues from 2016-17. The drop that year was caused when high-income earners declared income in the 2015 tax year to avoid higher taxes for those making more than $200,000 introduced by the Liberals for 2016.
Tags: budget, economy, featured, tax
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Will Canadians accept a carbon tax?
… with Canadians expressing a desire for government leadership, a substantial amount of concern about climate change, and moderate support across much of the country for a carbon price, the time may be right for bold action along the lines of the national carbon tax currently under discussion. No policy will be popular with all Canadians, but the data point to a reasonable chance that a carbon tax will be acceptable to the majority.
Tags: economy, globalization, ideology, tax
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Approaching carbon tax one reason now is a good time for broad-based tax reform
… what if the carbon tax was implemented in tandem with broad-based tax reform? Could the two reinforce each other? Not only would there be that much more in the way of revenues with which to make meaningful cuts in corporate and personal tax rates, but the cuts might then be deep enough to make possible a more radical reform of the tax code than might otherwise be attempted. Sometimes the best policy is also the most practical.
Tags: economy, featured, globalization, ideology, participation, tax
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Limits on income sprinkling cut into family businesses
In the past, business owners would sprinkle income to family members in lower tax brackets through dividends as a way to lower the family’s overall tax bill. For many business owners, this was considered a perk for a spouse’s involvement in the daily operations, even if they weren’t a paid employee, or to help pay for a child’s education. The federal government cracked down on income splitting as part of a broader set of tax changes for private corporations.
Tags: economy, ideology, privatization, tax
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To avoid catastrophic climate change, we need carbon pricing
The adoption of carbon pricing is accelerating, and there are more real-world examples that carbon pricing works with each passing year… The Nobel Prize and the IPCC report are just two more data points in a sea of evidence. Climate change is real, climate change is a problem and climate change deserves a serious policy response. There will be disagreements over how we move forward, but we need to tell the truth.
Tags: economy, featured, globalization, ideology, jurisdiction, tax
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The dirty little secret anti-carbon tax folks would prefer you did not know
You can try to cut emissions by other ways: regulations on business are a particular favourite. But those come with costs just as surely as a carbon tax does — every dollar of which would be passed on to the same “hard-working families” the critics pretend to care about. In fact, for virtually any alternative you can name (subsidies are even worse) the costs are higher — often much higher — per tonne of emissions reduced than for an equivalent carbon tax.
Tags: economy, featured, globalization, ideology, jurisdiction, tax
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Provincial spending cuts will take people from bad to worse
Ontario already has Canada’s lowest per-person program spending, including the lowest per-person investment in health care. There’s a reason school repairs are backlogged and hallway medicine has made a comeback. Now a 15 per cent cut threatens to take people from bad to worse. Already, Ford has cut $330 million a year from mental health and $100 million from school repairs… Working-class people are already struggling with low wages, no benefits and unaffordable everyday life.
Tags: budget, economy, featured, ideology, poverty, privatization, standard of living, tax
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Corporate Canada is Demanding More Tax Giveaways. They Already Get $18 Billion From Special Loopholes.
The billions in tax revenue that could be generated simply by closing tax loopholes could instead be invested in new public programs and initiatives like National Pharmacare, green infrastructure or universal childcare… In other words, Corporate Canada is asking Canadians to choose between public programs that benefit everyone or more tax giveaways for big business and the wealthiest 1%.
Tags: budget, economy, featured, ideology, standard of living, tax
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Ontarians rally in support of $15 minimum wage: ‘We cannot survive’
A study by the Canadian Centre for Policy Alternatives found that a minimum-wage increase to $15 an hour would mean an extra $1,465 in the pockets of the working poor, as compared to Ford’s plan to freeze the rate at $14 and eliminate provincial income taxes on those making less than $30,000. The report found that two-thirds of the 4.9 million Ontarians making less than $30,000 already pay no income tax.
Tags: economy, ideology, participation, poverty, standard of living, tax
Posted in Debates | 1 Comment »
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