Posts Tagged ‘tax’

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Why Canadians need to wake up about populism

Thursday, July 11th, 2019

Ordered populism… has four key conditions: A declining middle class, wage stagnation and hyper-concentration of wealth at the very top of the system; Major shifts in social values which see more progressive values displacing traditional social conservative values which… produce a cultural backlash by those seeing themselves falling victim to loss of identity and privilege; A growing sense of external threat…; Declining trust in public institutions plus a rise in ideological polarization. All those conditions are present in Canada. They predominate among less-educated males

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Make pharmacare a priority in the federal election

Tuesday, July 9th, 2019

The upcoming election debate on this issue should address key implementation issues including: Identifying the goalposts and the mechanism for achieving the desired outcome. The role of the federal government, subnational governments and the private sector. Who pays for the incremental costs and how will it be financed. The mechanism to get buy-ins from all subnational governments. A universal system only works if all subnational governments participate in it.

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Having better health care than the U.S. shouldn’t be good enough for Canadians

Sunday, July 7th, 2019

We need to stop settling for “better-than-America” and aim for “as good as much of Europe.” We also need to realize that there are ways to improve the system that are not either “just throw ever-more public dollars at the problems” and “burn medicare to the ground and pay for everything out of pocket.” If we ignore them while they’re still fixable — when the economy is good, there’s no weird epidemics afoot and the full impact of the upcoming demographic shift hasn’t yet hit — we’ll pay for it later.

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Big hurdles remain in pharmacare implementation plan

Wednesday, July 3rd, 2019

The national pharmacare advisory council’s ambitious report presents a staged, eight-year plan to reduce drug costs and make public drug coverage universal with the participation of the provinces. But there are major stumbling blocks ahead. The report is silent on how the initiative would be paid for; it proposes a convoluted and unequal federal funding transfer to encourage provincial and territorial participation; and, it makes potentially naïve assumptions about how private insurers will react to the expansion of public drug insurance.

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The real carbon tax is the money provinces are spending on lawyers

Wednesday, July 3rd, 2019

… the Ontario court also said carbon pricing is not a tax because the money collected by Ottawa will be sent back to the provinces, with nearly all of it going to individual taxpayers, and the remainder to schools, hospitals, municipalities and small and medium-sized businesses in the five provinces on which it is or will be imposed… The Ontario ruling also makes the case for why a federal regime is necessary.

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What is the problem to which creating a wealth tax is a solution?

Tuesday, June 25th, 2019

The stock of wealth in a country is typically many multiples of the flow of income; its concentration in a few hands is likewise greater. The top one per cent earn roughly 20 per cent of America’s income, but control 40 per cent of its wealth. They also pay 40 per cent of the income tax, but never mind: by taxing their wealth as well, vast sums of money could ostensibly be raised from relatively few people, and at relatively low rates.

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Why universal pharmacare will help get Canada’s drug costs under control — and why Big Pharma hates it

Saturday, June 22nd, 2019

It might be more accurate to say we can’t afford to go without it… The Hoskins report estimates an annual savings of about $5 billion in total drug spending once universal pharmacare is fully implemented… And it would strengthen employers’ ability to hire and properly compensate employees. Employer contributions to drug plans generally reduce worker pay.

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Canadian corporations may have avoided $25-billion or more in taxes in 2018: PBO

Friday, June 21st, 2019

Canadian companies transferred more than $1.6-trillion in 2018 to low-tax countries known as offshore financial centres and conduits to these nations, according to a new report by the Parliamentary Budget Officer… if just 10 per cent of that amount was transferred to avoid taxes, that would mean Ottawa lost out on $25-billion in federal revenue. Billions more would have been lost in provincial corporate taxes.

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Wealth Tax A Flawed Idea With New Life: C.D. Howe Institute

Friday, June 21st, 2019

They find that wealth taxes add relatively little to what taxes on capital income can achieve, and that concerns about the social consequences of wealth concentration are better addressed by reform of existing capital income taxes and by considering wealth transfer (inheritance) taxation… In those few nations that continue to have a wealth tax, its proceeds have decreased over time.

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Why are we forever chasing the dream of a universal drug plan?

Tuesday, June 18th, 2019

… derailed by opposing political agendas, fierce resistance from private insurers, public ambivalence and voter apathy… universal pharmacare isn’t merely about equity and ideology, but efficacy and efficiency… The challenge is to make those savings feel real, not notional… that cost-benefit tradeoff must be spelled out clearly to persuade people that the savings end up in their pockets.

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