Income tax cuts needed for suffering bankers
Sat, 2007-11-24 07:29
#1
Income tax cuts needed for suffering bankers
Sat, 2007-11-24 07:29
#2
Race to the bottom part XXXXXXXXXVIII:
quote:
Finance Minister Jim Flaherty raised the prospect yesterday of cutting income taxes for high-paid workers to keep them in Canada.
The man who has often been described as the populist Finance Minister suggested that it would not be an easy thing for politicians to do. But he said banks and other companies are being lobbied by foreign governments to move chunks of their operations to jurisdictions with better income-tax rates.
"We need to do more on the personal income-tax side because we still have marginal rates that are disproportionately high when I look at our competition," Mr. Flaherty told reporters in Oshawa. "And one of the things that politically is more difficult to do but it still needs to be done and that is in the higher earning categories between $100,000 and $200,000 a year in income."
[url=http://tinyurl.com/24qylf]http://tinyurl.com/24qylf[/url]
The tax rate in that range is 26% or 29%. In the U.S., the tax for that range is 28% and 33%. Nonetheless, some right wingers will never be satisfied until the rate is 0:
quote:
William Robson, president of the C. D. Howe Institute, believes tax cuts at the top end of the income scale are a good thing. "We are a high-tax jurisdiction for the people in the $150,000 range," he said.
Sat, 2007-11-24 09:28
#3
We've got to cater to rich people in Canada, or else our ecomomic growth would be even lower than it is currently in Ontario, Canada's largest province. Apparently majority foreign-owned and controlled energy companies aren't siphoning off Canada's oil and natural gas to the U.S. fast enough, they need tax breaks to make robbing us blind even [i]more[/i] lucrative.
Meanwhile, the U.S. dollar and economy could be in deep trouble as our political geniuses in Ottawa work toward deep integration of our natural resource-rich economy with that one.
And in stark contrast to the credit bubble fiasco emanating from the U.S., people in Asia are buying new homes with cash on the barrelhead. As in look ma, no mortgages!. China is a country where they’re building the equivalent of a city the size of San Francisco every few weeks(yes, pollution), but where they’re also investing in new technologies and building what will be the largest economy in the world. Their's was a backward forth world nation behind even democratic capitalist India in 1950. The Chinese might ask our stoogeocrats in Ottawa how they've managed to accomplish so little with so much at our disposal in the world's second or third largest country in the world. We know.
Tue, 2008-04-29 16:48
#4
"Canada should be making the tax system fairer"
[url=http://tinyurl.com/4u7q76]http://tinyurl.com/4u7q76[/url]
quote:
The past 20 years of "tax reform" has left Canada with a system that violates all the principles of fairness that modern personal income taxes were once based upon.Canada's tax system is now less responsive to a taxpayer's ability to pay.
And it generates less revenue than we need to pay for the public services Canadians want ...
Tue, 2008-04-29 19:18
#5
quote:
[b]And it generates less revenue than we need to pay for the public services Canadians want ...[/b]
That's the whole neocon idea. They don't [i]want[/i] to be able to afford public services. They have to be able to show empty pockets and appear as impotent as possible in order to force privatizations through. TINA! Or, the only alternative is to cut big business friends in for a slice of the pie and a nice commission off the top for their bad selves Maggie Thatcher style. It's the new-old Liberal capitalism 101, or, How to rob a nation blind without guns and masks.