Posts Tagged ‘tax’
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Liberals defer major tax pledge in 2017 federal budget
… Ottawa chose to hold off on a campaign pledge to raise billions in new revenue by closing tax loopholes that benefit high-income Canadians… But Mr. Morneau is promising to present a paper later this year that will outline potential tax changes that could affect upper-income earners, particularly those who use corporate structures to pay less tax… the Liberals are now setting their sights on private business structures that still allow couples to split income for tax purposes.
Tags: budget, economy, globalization, ideology, tax
Posted in Governance Policy Context | 1 Comment »
Trump threatens to derail Trudeau’s economic fairness agenda
Trump’s vow to cut U.S. taxes “bigly” does make it more difficult for Canada to raise its levies on the well-to-do, which Morneau has also been contemplating. Last year, the finance minister announced plans to look at tax breaks, sometimes called tax expenditures, which cost the federal treasury billions. But the Liberals will find it more difficult to boost taxes on the wealthy if, as expected, Trump’s America is going in the opposite direction.
Tags: budget, economy, ideology, standard of living, tax
Posted in Governance Debates | No Comments »
Cutting the fiscal fat, finance ministers find lot of baloney
Every budget dollar is precommitted to: debt service (approximately 9 per cent), transfers for health, education etc. (24 per cent), guaranteed spending for Old Age Security and Guaranteed Income Supplement etc. (17 per cent), and salaries and pensions for its own employees (29 per cent). When all the obligatory spending is sliced from the budget pie, every Canadian finance minister is left with about 20 cents of the budget dollar.
Tags: budget, economy, ideology, jurisdiction, tax
Posted in Governance Debates | No Comments »
Ottawa should end unfair and ineffective tax breaks
Every year, the federal government forgoes about $100 billion through so-called tax expenditures… [The Minister should eliminate]: 1. The tax break on executive stock options… half a billion dollars of forgone revenue to subsidize 75 very rich people … 2. The tax credit on corporate dividends… skewed toward the rich… and 3. The Canada Education Savings Grant… the $900-million annual grant disproportionately benefits the well-off.
Tags: budget, featured, ideology, tax
Posted in Governance Policy Context | No Comments »
It’s Time to Stop Subsidizing Canada’s Seniors
… the days of this country’s senior citizens living in penury is over, and it has been for quite some time. The poverty rate for seniors in Canada is just 6.7 percent, a figure that’s lower than just about every other demographic—most of whom are asked to subsidize said seniors with their own tax dollars… One particularly ripe piece of low-hanging fruit is the age tax credit, which was established in 1972 to help low-income seniors pay their bills but now amounts to little more than a $3.4 billion annual giveaway.
Tags: budget, disabilities, Health, mental Health, pensions, standard of living, tax
Posted in Child & Family Policy Context | No Comments »
A venture capitalist on how boomers wrecked America
In the venture capitalist’s new book, A Generation of Sociopaths, he argues that since the 1970s, U.S. politicians have been essentially currying favour with baby boomers—and now, their entitlements (Social Security, Medicare) must be safeguarded… Gibney figures the U.S. is headed for a financial and environmental reckoning around the 2030s, when the median boomer will have died, having successfully “deferred” paying off his or her debts to society so that younger generations will have to take them up.
Tags: economy, standard of living, tax
Posted in Debates | No Comments »
Alternative Federal Budget 2017: High Stakes, Clear Choices
… we’re urging the federal government to table a budget that makes good on its promises to reduce income inequality and drive inclusive growth… the AFB proposes a federal budget that takes decisive action on what matters to Canadians: creating jobs, reducing income inequality, lowering poverty levels, closing unfair and expensive tax loopholes, and getting the economy moving.
Tags: budget, economy, ideology, poverty, standard of living, tax
Posted in Governance Debates | 1 Comment »
Growing number of migrants renouncing Canadian immigrant status
A large number of these are so-called astronaut parents, who work offshore while their spouses and school-attending children remain in Canada, usually in urban centres… “Some have bought multiple properties. By renouncing their permanent resident status they can stay below the radar and avoid Canadian taxes… “They can visit Canada whenever they want on a 10-year visa. Why would they want anything else?”
Tags: economy, globalization, rights, tax
Posted in Inclusion Policy Context | No Comments »
For a progressive federal budget, Liberals must stick to their promises in the Trump era
… the government has barely begun to act on its promises to bring about transformational change for First Nations communities through investments in education and basic infrastructure… Significant new revenues could, and should, be raised – by tackling tax loopholes for the most affluent… progressive policies, rather than a race to the bottom, will create not just a fairer society, but also a more productive and future-oriented economy.
Tags: budget, economy, ideology, Indigenous, participation, standard of living, tax
Posted in Governance Debates | No Comments »
The problem with $47 billion in unpaid taxes
Think of what could be accomplished if that money was actually collected by the federal government; the programs it could fund, the benefits it could offer to citizens, the improvements to health care that would be possible. The federal deficit could be eliminated. Moreover, collecting this $47 billion would demonstrate to all Canadians the federal government is working hard to ensure everyone pays their fair share, no more and no less.
Tags: budget, crime prevention, economy, featured, globalization, jurisdiction, standard of living, tax
Posted in Governance Debates | No Comments »
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