Comments on: Tax Cuts in the Fiscal Update?

By: Dr Nick Stage

Dr Nick Stage — Mon, 05 Jan 2009 12:22:43 +0000

I made a mistake—the $123% federal corporate rate was
instead to be 11%.
Sorry about the “typo” error.

LONG LIVE a FREE and INDEPENDENT Confederal-
Republic of Western Canada.

By: Dr Nick Stage

Dr Nick Stage — Mon, 05 Jan 2009 12:17:14 +0000

This economic mess shows that the seven western
provinces of Canada MUST SECEDE from Canada.
The Yukon, the Mackezie-Northewest, Nunavit,
British Columbia, Alberta, Sascathchawan, and Manitoba
MUST form a new FREE Federal-Democratic Confederal
Republic of Western Canada.
Leadership in this new Western Canadian Confederal-
Republic should include Mr. Douglas “Doug” Christie
of the Western Canadian Party–and the W.C.C. Party.

Ottawa is too socialistic and totalitarian.

The New Western Canadian Confederal Republic
would see a TOP Personal Income Tax Rate of 8%,
nationally, with a $15,000.00 yearly tax exemption–
and average Top Tax Rate in the seven provinces
of 7%, an average of a 4% provincial sales Tax,
a 55% reduction in the GST, and a maximum of 123%
Federal corporate Income Tax Rate.
Government Yearly Heralth Care Premiums would be a maximum–via taxation,
of $350.00, and their would be PRIVATE HEALTH C ARE
INSURANCE–with a $3,700.00 yearly Tax deduction
of Private Insurance Care Insurance Premiums.

In the NEW Confederal-Republic of Western Canada
the would be right to own Handguns, Shotguns,
and Rifles–under a new series of Constitutional
guarantees, and a popularly-elected Senate and House of
the Peoples–a house of Commons–also elected by the
direct vote of the People.

The old Canada is finished.

Long Live the new and FREE Federal-Democratic
Confederal-Republic of Western Canada.

Perhaps the American States of Idaho, Wyoming,
North Dakota,and Montana could join in CONFEDERATION
too. A Separate Nations, but in a Customs and Economic
Union–FREE TRADE!! Maybe Alaska also.

Long Live a FREE Western Canada.

By: Robert Gibbs

Robert Gibbs — Thu, 25 Oct 2007 00:47:28 +0000

IT For Income Trusts

Remember, Remember
The 1st Of November
The Conservative’s Income Trust Treason And Plot

I Know Of No Reason
Why The Income Trust Treason
Should Ever Be Forgot

By: Jon D.

Jon D. — Wed, 24 Oct 2007 23:32:56 +0000

Agree with above: Lower personal income tax brackets, say 12%, 18%, 23% for the first 3 brackets, increase personal exemption to 10K, ower corp. taxes to 18% and increase GST to 10%, and lower Capital Gains inclusion to 25%.
Give more more on my take home pay and I’ll decide what to spend it on or invest it.

By: Warren

Warren — Wed, 24 Oct 2007 18:55:16 +0000

Ask any economist and they’ll tell you consumption taxes (GST) are the most effective, and income taxes are the least effective. All things being equal, I’d rather see a 10% GST and a massive reduction in corporate and income taxes. But GST is such a popular tax to hate, its obviously the first target. With our current surplus, I think it could be eliminated, with some cleanup of red tape.

Regarding the capital gains tax cut, why don’t they just reduce the inclusion rate again.. say to 25%?

And the revenue/expenditure sharing between governments is bad, and getting worse. Cities are getting the short end of the stick and have been for some time. Even provinces have to beg for money for their huge expenses (health care), while the feds collect the lions share of the loot.

Sorry I can’t have too much sympathy for Ontario, try living out here in Vancouver and see how much government support flows out here… When I listen east I just hear a giant sucking sound.

By: Rookie

Rookie — Wed, 24 Oct 2007 15:45:33 +0000

I don’t know how fair the taxes Toronto chose to implement are, but something definitely needs to be done about funding for cities. It seems that the senior levels of government, especially the feds, have more money than they need and the junior levels have too little. I would not mind seeing cities get a slice of income tax money paid by their residents and see ad hoc levies and fees reduced along with property taxes. That would reward cities that create wealth for their residents. I don’t know if that is feasible.

By: Canadian Capitalist

Canadian Capitalist — Wed, 24 Oct 2007 15:36:49 +0000

Preet: I agree with you that the capital gains exemption as originally proposed isn’t going to happen because it will be an administrative nightmare to follow the paper trail. Maybe something like a tax-prepaid savings plan (no upfront tax deduction but no tax on withdrawal) or a capital gains exemption.

Phil: I am not holding my breath on the tax cuts either. And if and when an election is called, we can expect another spending binge in an attempt to buy votes (and the opposition crying that the government is campaigning on the taxpayer dime). There is only one bunch of losers in all this: us taxpayers!

Eric: Corporations don’t exist in a vacuum. Their taxes are ultimately borne by us through higher cost for goods and services and lower returns on our investments (yes, everyone is invested in our corporate sector via CPP, RRSPs, pension plans etc.).

Larry: Do you know if the provincial LTT is indexed to inflation?

By: Phil S

Phil S — Wed, 24 Oct 2007 15:29:42 +0000

It’s Toronto’s municipal government talking out of both sides of their mouth. They SAY that they want to encourage the use of public transit by reducing the number of commuters and encouraging people to move into the city. Meanwhile they’re taxing everybody right out of the 416 area code. It doesn’t make any sense whatsoever. Especially since the city of Toronto already receives the highest per capita tax revenue of all Canadian cities and they still can’t balance the budget. I am guessing that these politicians have been too busy stuffing money in their pockets to put any time into balancing the budget.

By: larry macdonald

larry macdonald — Wed, 24 Oct 2007 13:38:44 +0000

I wonder if the exemption from the land transfer tax on the first $400,000 of a purchase by a first-time buyer will be indexed to inflation or the price of housing? Otherwise, 5 to 10 years from now, when house prices could be a lot higher, the exemption won’t mean much. It’ could be like the GST. The thresholds of $350,000 and $450,000 for the GST rebate on new housing, set over 20 years ago , are not indexed to inflation, so more and more new houses are failing to qualify for GST rebates as house prices rise ($180 to $220 million annually in GST rebates are now being denied buyers of new homes by one estimate).

By: Mike

Mike — Wed, 24 Oct 2007 12:58:21 +0000

Eric, you must be an NDP supporter…