Following similar legislation in other countries Canada has finally introduced a beneficial ownership requirement on Canadian companies. Federally registered companies will have to disclose who owns them, which means it’ll be harder to commit tax fraud. Plus, by having companies reveal who benefits from their existence it will be easier
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Things Are Good: To Increase Equality Tell People the Rich Don’t Have to Work
The rich keep getting richer because we think they work for it. The thing is, they don’t work for their wealth that separates the wealthy from everyone else. What allows the rich to keep increasing their wealth is capital gains instead of money earned though labour. Most of us have
Continue readingThings Are Good: Canada Starts to Reduce Oil & Gas Subsidies
A country that loves extracting fossil fuels has begun to clean up its tax rebates for the destructive oil and gas industry. Canada spent over $15 BILLION on subsidies for the oil and gas sector in 2021 alone, which isn’t just bad it’s literally funding the destruction of the planet.
Continue readingThings Are Good: Taxing the Rich Will Save the Planet
Luxury taxes can save us from climate collapse and we should start raising taxes now. You, the reader, will not have your taxes increased and nor are you likely to be impacted by a luxury tax; however, the benefits you will gain from a luxury tax are immense. We already
Continue readingThings Are Good: Taxing the Ultra Wealthy Can Save the Planet
A wealth tax could be a way to not only address inequality, it’s also a way to reduce the damage done to the planet by greedy billionaires. Oxfam looked into the investments that the ultra rich hold and found that their investments alone do more damage to the planet than
Continue readingThings Are Good: Canadians Need to Know Snow-washing
Us Canadians need to live up to the stereotype that we are a nice, peaceful, and safe country. Clearly the so-called trucker protest tarnished our reputation, but in financial circles our reputation is tarnished thanks to our neglect of corporate accountability. Internationally Canada is seen as a great place to
Continue readingThings Are Good: Taxing Sugar Drinks Works if the Tax is Known
Soda taxes get proposed often, and they have varying levels of success depending on how they are implemented. A new study reveals that when people are made aware that the sugar tax impacts the price of products they stop buying the unhealthy product. If you educate people then they act
Continue readingThings Are Good: Pandora Papers Resonate in Canada
The Pandora Papers were released just last week and they are already having in impact in Canada. The non-profit Canadians for Tax Fairness is pushing the recently elected politicians to get on closing loopholes and exploits that only the rich get to use. All parties support tax reform to address
Continue readingThings Are Good: G7 Nations Agree on Minimum Corporate Tax
Corporations love keeping their shareholders money instead of contributing to society, and it’s the role of governments to ensure that corporations do their part. Usually this comes in the form of taxation. Multinational corporations create multiple subsidiaries to obfuscate and obstruct the ability of governments to collect tax, it’s the
Continue readingThings Are Good: Evidence is in: Green Policies Improve Economic Performance
Short-term thinkers who put quarterly profits above all else consistently argue that caring for the environment destroys business. They are wrong. The evidence keeps growing that planet (and people) friendly policies encourage economic growth while also forcing companies to increase their efficiency. It’s a win-win for businesses and the planet.
Continue readingThings Are Good: IMF: Raise Taxes on the Rich, Lower Taxes for Everyone Else
Historically, the International Monetary Fund (IMF) argued for lower taxes for everyone, particularly those that need it the least: the wealthy. Due to increases in multiple forms of inequality since the last global recession the IMF has changed its tune. The institution now calls for countries around the world to
Continue readingWritings of J. Todd Ring: Six Founding Principles Of Good Government
Or, Public Policy 101: Tax “Bads”, Not Goods Public policy, or government policy, should reflect certain basic principles. Let’s set out a few. Not everyone will agree, but polls repeatedly show the great majority, from the moderate grassroots right, across to the left, in general agree, and in general strongly
Continue readingWritings of J. Todd Ring: Why The Left Is Once Again Wrong
Also happening now, and further showing the continued failure of the left: the left is shouting in defence of payroll taxes – which kill jobs, as they are a tax on hiring and employment, as well as a regressive tax that hurts small and medium business the hardest. The
Continue readingThings Are Good: British Columbia’s Carbon Pricing Works Well
British Columbia shows carbon pricing works while another province looks uselessly backwards. The regressive and antidemocratic Ontario “conservative” government is set to sue the Canadian government for protecting the environment. The argument by the Conservatives is basically that an economy allowed to inefficiently consume non-renewable resources is good and that
Continue readingThings Are Good: The Panama Papers Worked
Tax evasion is a problem in every country and it’s up to teams of investigative journalists to expose mass illegal international operations. A few years ago the Panama Papers exposed an efficient tax dodging operation by a large group of wealthy people. The results of the exposure from the Panama
Continue readingThings Are Good: Fight Inequality by Taxing Corporations
Unless you earn more then $200,000 a year corporate tax cuts likely make your life worse. Even though it’s a myth, it’s long been argued that by cutting taxes for wealthy companies jobs will magically pop into existence. Indeed, this myth is so pervasive in modern capitalism that we’re increasing
Continue readingThings Are Good: California Launches Improved Reverse Income Tax Scheme
California’s welfare system (EITC) includes subsidies sent annually for people living without income and that’s about to change. Under new rules the money given to people who earn less than minimum wage will be sent monthly. This is really good since it provides a stable, reliable, and regular sum every
Continue readingThings Are Good: Time for a Tobin Tax on Financial Transactions
High frequency trading increases volatility in stock markets and mean that only those with access to high-powered computers can compete. This is not good for long-term thinking and means that what a company actually does is irrelevant to the stock performance – contradictory to claims about how the market ought
Continue readingThings Are Good: These Millionaires Want Higher Taxes
When it comes to taxes Americans love not paying them, but now some millionaires want to change that. The Patriotic Millionaires call on the rich to pay their fair share, and they call for that attitude to permeate the globe. Developed nations tend to tax money made through labour at
Continue readingThings Are Good: It’s Time to Tax Car Drivers by the Kilometre
The RAND Corporation is calling for a new way to tax drivers in the states: by distance traveled. Car drivers may feel like they’re paying too much in taxes already, but the reality is that the costs of maintaining road infrastructure are far greater than revenue from vehicle-specific taxes. In
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