70 years
The last time Canadian federal tax revenues have been this low (as a share of the economy). (Source)
29%
Top federal personal income tax rate for anyone earning from $136,270 to you name it. In 1981, the rate for anyone earning $119,000 or more (1981 dollars) was 43 per cent. (Source)
$2.5 billion
Estimated additional revenue that could accrue to federal fiscal coffers in 2015 if the federal government adopted a new tax bracket of 35 per cent for incomes over $250,000. (Source)
$6 billion
Eventual annual loss in revenue the Alternative Federal Budget estimates could result from the federal government’s 2011 proposal to double the limit for Canadians who can afford to shelter money into the Tax Free Savings Account, which now has an annual limit of $5,500 a year. (Source)
29.1%
Canada’s federal corporate income tax rate in 2000. By 2011 that tax rate had been cut in half, to 15 per cent. (Source)
$6.1 billion
Estimated loss in annual revenue when the federal government cut the corporate income tax rate from 18.5 per cent in 2011 to 15 per cent. That represents a $1.75-billion revenue loss for every percentage point decrease. (Source)
5 times more
Every dollar spent on public services or invested in public infrastructure generates an average of five times more jobs and immediate economic activity as a dollar lost to corporate tax cuts. (Source)
$9.8 billion
Estimated annual new revenue that could be generated if Canada’s federal corporate tax rate was restored to 22 per cent (the 2006 rate was 22.1 per cent). (Source)
$1 billion
Estimated average new revenue that would go into federal fiscal coffers if the corporate income tax rate on the oil, gas and minerals sector was restored to the 2002 rate of 28 per cent. (Source)
$1.75 billion
Estimated annual new revenue that could be generated if the federal government increased the small business tax rate from 11 per cent to 15 per cent. (Source)
$8.4 billion
New net revenue expected from treating capital gains income as you would employment income, adjusting for inflation, behavioural and other factors. (Source)
$280 billion
Estimated public revenue lost worldwide from the $20 to $30 trillion in cash sheltered through tax avoidance (popularly known as tax havens). Canada loses up to $10 billion a year on this gaping loophole. (Source)
The Canadian Centre for Policy Alternative’s Trish Hennessy has long been a fan of Harper Magazine’s one-page list of eye-popping statistics, Harper’s Index. Instead of wishing for a Canadian version to magically appear, she’s created her own index — a monthly listing of numbers about Canada and its place in the world. Hennessy’s Index — A number is never just a number — comes out at the beginning of each month.
Image: Jared Rodriguez / t r u t h o u t
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