Thursday, September 14, 2017

New column day

Here, on how the Libs' weakness in closing even modest loopholes is allowing tax entitlement to win out over tax fairness.

For further reading...
- Justin Ling offers a useful look at the minor moves to rein in the abuse of private corporations in this year's budget. Konrad Yakabuski rightly argues that the entire fight is primarily over politics rather than revenue. And Susan Delacourt speculates that such a minor change affecting a small number of incorporated businesses will result in as much controversy as the GST.
- James Laxer discusses how the reaction to the Libs' proposed changes represents class warfare by the wealthy. And Don Pittis writes about the clash between the public's desire for a fair tax system, and entrenched interests looking to preserve their perks.
- For a reminder, David MacDonald studied Canada's unfair tax expenditures, including the billion-dollar stock option loophole. And Dennis Howlett lamented the Libs' decision to leave that wide open for exploitation.
- Finally, for examples of the type of revenue options on the table in the NDP's leadership campaign, Niki Ashton, Guy Caron and Jagmeet Singh have each proposed substantial revenue increases to fund needed social spending, while Charlie Angus' plan includes targeting corporate tax havens.

1 comment:

  1. Anonymous2:36 PM

    Please read the following article:

    http://business.financialpost.com/opinion/how-much-of-a-fair-share-do-canadas-top-earners-pay-you-might-be-surprised

    How much of a ‘fair share’ do Canada’s top earners pay ...
    business.financialpost.com
    How much of a ‘fair share’ do Canada’s top earners pay? You might be surprised Charles Lammam and Ben Eisen: Canada’s tax system is progressive, extracting ...
    A quick excerpt: "According to Statistics Canada data, in 2013 the top 10 per cent earned 35 per cent of Canada’s total income yet paid 54 per cent of federal and provincial income taxes."

    I would love to hear an explanation of how having the richest 10% of Canadians paying over 54% of federal/provincial income taxes is not paying their "fair share". At what level of taxation would you suggest fairness occurs? 60%? 75%? Maybe 90%? Would you be happy with giving away that proportion of your hard earned salary?

    We all want better for everyone, but attacking the successful is not the way to go about it. Class warfare (a favorite of the NDP) only serves to divide us further.

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