That’s the advice of Dylan Marando, who, like many others, has come to the conclusion that tax breaks for the wealthy and corporations just means greater wealth accrual and dividend payouts, not job growth. The fact that corporations are currently sitt… . . . → Read More: Politics and its Discontents: Put The Money Where It Will Do the Most Good
Apparently, Stephen Harper feels that Canadians are real whores for tax cuts: Stephen Harper is kicking off a quiet day on the federal election campaign trial by promising tax relief for service club members.
Harper says members of organizations such the Kiwanis, Lions and Royal Canadian Legion can claim a tax break for their . . . → Read More: Politics and its Discontents: Now this Is Getting Ridiculous
I’ve been banging the drum of “slow-motion austerity” for a while and little in the 2015 federal budget suggests any change from the pattern of death by a thousand cuts. This budget is another is a series of unspectacular austerity budgets. Taken together, however, the cuts rapidly add up and budgets become more remarkable for . . . → Read More: Political Eh-conomy: Budget 2015: A tale of austerity past, present and future
For a government whose every policy seems to be concocted with an eye to re-election, it is not surprising that Finance Minister Joe Oliver has not yet firmed up a date for this year’s budget. After all, he and the rest of the cabal need to know how effective their war on Canadian peace-of-mind . . . → Read More: Politics and its Discontents: Hither And Thither
The Fraser Institute’s annual Consumer Tax Index report generated some media buzz with its outlandish claims about just how much taxes have risen since 1961. Before you get worked up about this, consider that 1961 was over half a century ago, before the time of universal health care that we all benefit from, before the . . . → Read More: The Progressive Economics Forum: Debunking Fraser Institute’s latest contortion on taxes
The contrast couldn’t be more striking. As announced by federal Fiance Minister Joe Oliver the other day, Ottawa is well on its way to posting a $9 billion surplus, but Canadians shouldn’t expect any massive new spending programs. Instead, he plans to reduce taxes once the deficit is eliminated in the 2015-16 budget, likely next . . . → Read More: Politics and its Discontents: Two Takes On Taxation
I have a deep respect for Alex Himelfarb, the director of the Glendon School of International and Public Affairs and tireless proponent of responsible, progressive taxation. The latter, as one can well-imagine, likely makes him persona non grata in many circles, but those are likely the same circles that close out responsible thought or . . . → Read More: Politics and its Discontents: A Reading Recommendation.
Although he likely doesn’t articulate anything that progressive bloggers don’t already know, Star letter-writer Paul Kahnert of Markham neatly and succinctly addresses the real design behind tax cuts for corporations and the wealthy. It deserves to be shared widely with those who may not be fully aware of some essential facts.
Have we had . . . → Read More: Politics and its Discontents: A Letter We Should Widely Share
There is little doubt that the Harper government intends to start the tax cuts rolling again as soon as it reaches a balanced budget, but are Canadians really looking at the state of the nation and demanding more of their own … Continue reading →
CLC report: Corporate Tax Freedom Day is January 30 – Big businesses hoard cash from tax giveaways, not investing in jobs by Canadian Labour Congress | Jan. 29, 2013 OTTAWA – A research study by the Canadian Labour Congress shows that CEOs in Canada could be dancing in their suites to celebrate Corporate Tax Freedom . . . → Read More: The Canadian Progressive: Canadian Labour Congress says corporations hoarding cash, paying fat compensation to CEOs
The Ontario government has long believed that cutting corporate taxes will spur economic growth. A new six-decade study from the U.S. Congressional Research Services says that tax rates “have had little association with saving, investment or productivity growth.” The study … Continue reading →
A new study in the U.S. is the latest to say that tax cuts do not positively relate to economic growth. David Leonhardt of the New York Times excerpts its conclusions in the Economix blog: The top income tax rates have changed considerably since the end of World War II. Throughout the late-1940s and 1950s, . . . → Read More: Impolitical: Tax cuts and economic growth
Now here is something everyone who wants to be well-informed should watch. Part of TVO’s Big Ideas series, it is a talk entitled How Did Taxes Become a Bad Word? by Alex Himelfarb, Director of the Glendon School of Public and International Affairs at York University, former Clerk of the Privy Council, and fellow blogger. . . . → Read More: Politics and its Discontents: Why Fair Taxation Is Crucial
We can perhaps amend an old Ethiopian saying to read “absolutes are for infants and kings”. It is catechism worth remembering when arguing with liberal economists. For theirs is not a just sport. In fact, one should never mix sport with justice. As Berlin said long ago (1958):
Everything is what it is: liberty . . . → Read More: Bullshit in absolutes: or how ‘liberal’* economists argue with themselves
I wish I had gotten around to reading this book sooner. It is a great read and takes a great deal of piss out of the arguments (made by our beloved conservative/libertarian friends) for lower taxes and more love for the wealthy. I highly recommend reading it. Check out other reviews here and here. I . . . → Read More: Dead Wild Roses: The Trouble with Billionaires – Linda McQuaig
Apparently Stephen Gordon is having a hard time figuring out where Andrew Jackson, the chief economist for the CLC, got the bizarre idea that: The argument for corporate income tax cuts has been that increased after-tax corporate profits would be … Continue reading →
Obama wants to push the so called compromise of extending the payroll tax cuts by another 2 years. If this is considered a compromise it a joke. Because first both sides for the most part agree with the idea, but yet there was still a lot of fighting over the bill? This bill extends tax . . . → Read More: The Happy Wanderer: Compromise!?
In a somewhat strange turn of events it seems the Democrats who contiguous talk themselves as being the party that will save Social Security is now the party that quite frankly is giving it lip service. The Payroll tax (the tax that generates a lot of income for Social Security) is at 4.2%, but it is usually at . . . → Read More: The Happy Wanderer: Democrats are Dreaming
A new study shows what the 9-9-9 plan actually does. This study shows who will benefit and who will not benefit in this tax plan. Under the current policy there is no sales tax. Under this plan there will be a 9% G.S.T , but s… . . . → Read More: The Happy Wanderer: 9-9-9 plan means MORE TAXES!
Since this is an argument commonly made by conservatives, that tax cuts will spur economic growth and therefore pay for themselves, it’s always worth noting a recent look at the issue. Simon Johnson, former chief IMF economist, reviews a few studies in… . . . → Read More: Impolitical: Do tax cuts pay for themselves?
In PEI the PC’s in the province who are losing terribly in the polls are trying to gain support promising something that PEI can’t afford. The Pc leader Olive Crane said if elected she would reduce the P.S.T in the province from 10% to 9%. “For a one… . . . → Read More: The Happy Wanderer: PC over Promising.
The global economy is in the toilet and the Boomers’ representatives are chanting: “flush, flush, flush.” Me? I am eating cigarettes and wine while admiring the remarkable consistency in the myopia of all of it. In the name of fisca… . . . → Read More: The irony of greed: The end game for Neoliberalism?
This piece in the Globe today by a Toronto architect, Jack Diamond is worth a read because it’s the kind of case that’s not often made these days for what’s needed to build and keep the Canada we enjoy living in. It’s about cities and the elements that… . . . → Read More: Impolitical: Tax value
Stephen Harper would like to cut 4 billion dollars in spending in order to help balance the budget. knowing Harper these cuts of course attacks agencies he is against like Environment Canada that will be getting a 21% cut this year. which is … . . . → Read More: The Happy Wanderer: Cut, Cut, Cut
The tax cutting orthodoxy of the Republicans comes under fire from right wing New York Times columnist David Brooks as the debt ceiling fight looms: The party is not being asked to raise marginal tax rates in a way that might pervert incentives. On the… . . . → Read More: Impolitical: Column of the week