Posts Tagged ‘tax’
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Does Trudeau’s sunny Canada have room for inequality?
The average full-time Canadian worker in 2014 was paid $48,636. The average minimum wage worker got $22,010. By contrast, the average top-100 CEOs had earned the average worker’s pay by 12:18 p.m. on Jan. 4, 2016 – the second paid day of the year – and the average minimum-wage worker’s pay by 2:07 p.m. on New Year’s Day itself… Oxfam’s new report points out why economic inequality remains one of the world’s great continuing scandals that absolutely nothing is being done to change. Yet there can be no democracy in such an unequal world.
Tags: economy, featured, globalization, ideology, standard of living, tax
Posted in Equality Debates | No Comments »
Ontario not facing ‘debt wall,’ says study of province’s fiscal health
“The Wynne government was elected with an activist mandate, yet it has always allowed concerns about debt and deficits to hamstring that agenda… Part of the debt increase is due to the changes in accounting rules, not a result of profligate public spending (which is, per capita, the lowest in Canada)”… the province’s economy grew at an annualized rate of 3.5. per cent in the third quarter of 2015… with household spending, business investment, and net exports all contributing to the overall increase
Tags: budget, economy, globalization, ideology, standard of living, tax
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‘Charity chill’ melts under friendly government
One of Justin Trudeau’s first acts as prime minister was to disband Revenue Canada’s anti-charity hit squad… “Allow charities to do their work on behalf of Canadians free of political harassment,” he wrote. “Modernize the rules governing the charitable and not-for-profit sectors, working with the minister of finance. This will include clarifying the rules governing ‘political activity’ with an understanding that charities make an important contribution to public debate and policy.”
Tags: ideology, participation, philanthropy, tax
Posted in Inclusion Policy Context | No Comments »
Trudeau must be bold in tackling inequality
The Trudeau Liberals’ plan in tackling poverty and inequality should include an increase in social spending, a flexible employment insurance program, and a more serious tax reform. A rollback from taxes that have been cut from the rich and big business in the last 35 years would be a good point to start. / Show some courage, Justin Trudeau and Bill Morneau, and start to demand that large corporations pay their way in Canadian life…
Tags: economy, ideology, participation, standard of living, tax
Posted in Equality Debates | No Comments »
Keys to developing a domestic growth strategy for Canada
The current personal and corporate tax systems have become too complex and inefficient… This means moving to a model that depends less on income taxes and more on consumption taxes… In 2014-15, personal income taxes accounted for 48.1 per cent of total revenue and corporate income taxes 14.0 per cent. GST tax revenue accounted for 11.1 per cent of total revenue. This mix needs to be changed.
Tags: budget, economy, featured, ideology, standard of living, tax
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How the Liberals can tackle income inequality
They can systematically close tax loopholes. Canada’s tax code is riddled with deductions credits and exemptions and allowances targeted at specific sectors of the population… They can wind down corporate subsidies that serve little public purpose… Similarly, they can phase out programs… [like] massively expanding the prison system, pouring millions into border security… They now have a chance to reallocate billions of dollars to Canada’s threadbare social safety net.
Tags: budget, economy, featured, ideology, poverty, tax
Posted in Equality Debates | No Comments »
Fairer property taxes would help address Toronto’s revenue problem
Currently, all properties in the same class (e.g. residential, commercial, industrial) are charged the same tax rate. This means that the lowest valued home pays the same tax rate as the highest valued home… A variable tax rate allows a lower tax “bite” on the less wealthy as the more prosperous shoulder more. With a bigger bite on the wealthy, it also allows more overall revenue to be raised. This would also be good public policy for a city concerned with budget shortfalls and rising income inequality.
Tags: budget, economy, ideology, tax
Posted in Equality Policy Context | 1 Comment »
Provinces can’t blame Ottawa for red ink: Transfer payments have grown rapidly over past decade, Fraser Institute finds
… the Fraser Institute “finds that major federal transfers to the provinces and territories are currently higher on an inflation-adjusted per-capita basis than at any other point in Canadian history.” … [but] “In 2015-16, Ontarians will contribute approximately $6.7 billion to the Equalization program while receiving roughly $2.4 billion in return, representing a net contribution of $4.4 billion – the highest of any province in Canada,”
Tags: budget, economy, jurisdiction, tax
Posted in Governance Policy Context | No Comments »
Trudeau’s right on taxes
Tax laws allow lawyers, accountants, dentists, and other professionals to provide services to their employers through personal services corporations, rather than as employees… Professionals providing services through a personal services corporation are taxed at the lower small business rate on the first $500,000 of income. In Ontario, the combined federal and provincial rate is 11%, dropping to 9% by 2019, while mere individuals face a marginal tax rate of 46%.
Tags: featured, ideology, privatization, rights, standard of living, tax
Posted in Governance Debates | 1 Comment »
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