Posts Tagged ‘tax’

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Deficit budget sets new tone for Canada

Wednesday, March 23rd, 2016

For more than 20 years, federal budgets have worked to shrink the public’s expectations of the role of federal government in our lives, suggesting that the best government could do was offer a buffet of tax cuts at budget time… a false narrative… that government deficits should be avoided… locked governments into prolonged inaction as roads, bridges, sewer and water systems that our grandparents’ generation built began to crumble; as poverty remained unchecked.

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Ottawa to step up efforts on tax cheats in bid to collect $2.6 billion in back taxes

Wednesday, March 23rd, 2016

… the new Liberal government said it will provide $444.4 million to the Canada Revenue Agency over the next five years so it can crack down on tax evasion and combat tax avoidance. The government says it expects these efforts to result in the collection of $2.6 billion in back taxes over the next five years. The crackdown will extend to what the federal government describes as “aggressive tax planning.”

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Ottawa’s deficit-spending budget an admission that rate cuts aren’t the answer

Tuesday, March 22nd, 2016

… most business groups, usually the shrillest of critics, are behind the Liberal government’s plans… This new consensus is really a capitulation. It says that, after eight years of manipulating interest rates, that policy hasn’t worked. No amount of pushing on that string has created growth… You spend money you don’t have (but promise to pay back). You hope to stimulate demand so that businesses will follow along and economic activity will increase.

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Federal budget is good time to reframe child benefits as family benefits

Tuesday, March 22nd, 2016

In the United States, parents with low wages are supported by the Earned Income Tax Credit; the United Kingdom is gradually replacing its Child Tax Credit with a new Universal Credit. Could Canadians also acknowledge that low-income workers, not just their children, deserve support? If child benefits were reframed as family benefits, they would be structured differently… I would retain some element of universality in the Canadian child benefit system.

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Canada’s charity chill continues

Sunday, March 20th, 2016

Gagging charities certainly would be convenient for some powerful interests, interests with many times the resources and insider influence of the average Canadian charity. But would that really make our country stronger? The answer, of course, is no… It is time to end politically motivated audits of Canadian charities and adopt modern rules that allow charities to play an active role in building the kind of inclusive and sustainable society

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Alternative Federal Budget 2016: Time To Move On

Friday, March 11th, 2016

Time To Move On proves that we can fight climate change and create jobs at the same time, that we can reduce poverty and grow the economy responsibly, and that there is more than enough fiscal room to ensure that everyone can have a better future… This year’s AFB delivers a plan that would lift 1.1 million Canadians out of poverty, reduce income inequality, boost economic growth, and, at its peak, result in 520,000 new jobs, bringing Canada’s unemployment rate to 6.0%.

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How Canada got a step closer to taming its big fiscal beast

Tuesday, March 8th, 2016

For years now, the government has been drifting toward the use of tax expenditure as a means of policy, and we have lacked the tools to analyze what’s happening. Colloquially known as boutique tax breaks, benefits, or loopholes… Measures such as these are thought to incentivize desired behaviours through targeted tax relief. It sounds simple, almost like a tax cut. But, in fact, these budgetary boogeymen are subsidies to the select few…

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Taxes: the third rail of Canadian politics

Friday, March 4th, 2016

… three ways the Liberal government could start: Close tax loopholes. Canada’s 3,200-page income tax is riddled with deductions, exemptions, credits targeted at specific sectors of the population… Make the tax system more progressive. Brian Mulroney reduced Canada’s 10 tax brackets – which ranged from 6 per cent at the bottom to 34 per at the top – to three brackets… Extend this year’s middle-class tax cut to those with incomes below $45,000.

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The good and the bad in Ontario’s budget

Friday, March 4th, 2016

Classical economists like Adam Smith or Mill… exposed the scam and insisted on distinguishing between productive and unproductive wealth… today’s feudal wastrels, sucking up wealth via interest that could’ve created something, are in FIRE: finance, insurance, real estate… Today they’re more likely to try to conscript the common possessions of a society: “natural monopolies” like highways (since you can’t have competing highways), public schools, or energy utilities.

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A realistic plan to narrow the income gap

Wednesday, March 2nd, 2016

The [IRPP] and… the Canadian Labour Market and Skills Researcher Network, assembled 27 of the best thinkers in the country to bring their knowledge and ideas to the table. What emerged was a package of measures, ranging from act-now steps to ambitious multi-year proposals… these proposals sound familiar… There’s no mystery about what it takes to make a society fairer. It is a matter of political will.

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