Taxes and tax cuts
Chart taken from the CCPA report, Ascent of Giants: NAFTA, Corporate Power and the Growing Income Gap, by Jordan Brennan (April 2015).
It feels a bit counterintuitive, after a tumultuous 2016, to be talking about the mundane matter of tax reform. This is normally a time of deeper reflection on the year that was and the trends and challenges to come. Slow growth in the global economy, the collapse of mega-regional trade deals like the TPP and TTIP, the election of a sexist, race-baiting bully in the U.S.
Unfair tax loopholes cost the federal government $103 billion dollars each year—but not everyone’s in the loop. These loopholes disproportionately benefit the rich, and perpetuate income inequality. Did you know that if the five worst tax loopholes were closed, the federal government could use that money to create an affordable national child care program AND eliminate university tuition?
OTTAWA—Au Canada, les dépenses fiscales liées à l’impôt sur le revenu des particuliers profitent de façon disproportionnée aux riches et coûtent au Trésor fédéral presque autant que l’impôt sur le revenu des particuliers qu’il perçoit, selon une étude publiée par le Centre canadien de politiques alternatives (CCPA).
OTTAWA—Canada’s personal income tax expenditures disproportionately benefit the rich and cost the federal treasury nearly as much as it collects in personal income tax, says a study released by the Canadian Centre for Policy Alternatives (CCPA).
This study finds that Canada’s personal income tax expenditures disproportionately benefit the rich and cost the federal treasury nearly as much as it collects in personal income tax. The study examines the income distribution of benefit for the 64 personal income tax expenditures for which there is available data. Out of the 64 tax expenditures, 59 of them provide more benefit to the top 50% of income earners than the bottom half, with the largest share going to the richest 10%. The cost of those 59 expenditures totalled $100.5 billion in 2011 alone.
Basic Personal Exemption (BPE) increases are being brought in by the new provincial government under the auspices of reducing poverty. The BPE is the floor at which we start paying provincial income taxes.
Winnipeg City Council is currently considering a development fee to ensure that suburban growth in our city pays its fair share of city-wide infrastructure needs. Such fees are nothing new: municipalities surrounding Winnipeg levy them as do most major Canadian cities. Winnipeg developers are up in arms and do not want to pay the proposed development fee. In this stance they are being consistent with the historic position of the industry in our city, an industry that has had significant influence over Winnipeg City Hall, especially in promoting costly suburban sprawl.
La présente étude se concentre sur l’ascension des nouveaux médias, en contexte de déréglementation et de sous-taxation, entre le milieu et la fin des années 2000. Les services médiatiques sur Internet, et en particulier des services de télévision par contournement (TPC) tels que Netflix et YouTube, qui n’ont pas de présence physique au Canada, profitent d'un avantage inéquitable sur les nouveaux services en ligne canadiens, puisqu’ils n’ont pas l’obligation de percevoir les taxes sur la valeur ajoutée et ne paient pas d’impôt sur le revenu au Canada. Le Canada perd des centaines de million