The rest of us have to work until late February to achieve the same thing.
Corporations denounce increased government spending. Except, of course, when government largesse flows their way.
The Liberal Government has stated they want to build a strong middle class, but who comprises the middle class? Mr. Morneau in his 2017 budget speech stated, "All Canadians must pay their fair share of taxes," but what is a "fair share"? Let's do the math and find out.
Canada is trapped in a penalty box that has been slammed shut by Prime Minister Justin Trudeau. Our economy is stalled, going nowhere fast. It barely ekes out a one per cent growth rate. Talk about a slump. How can we break out of this?
There has been "a measurable withdrawal of public services and support programs."
Companies operating in Canada in 2014 held over $199 billion in "assets" -- unpaid taxes -- in havens like Barbados and the Cayman Islands. Canada is one of the biggest "losers" of corporate tax revenue. The "winner" countries are the ones with low-to-none corporate income tax, such as Bermuda, as well as the super-rich.
They should have worked. Maybe they could have worked. But they didn’t.
How is it that everyone seems to know someone who's paid under the table, but no one concedes to doing it? Of course, that's no surprise. Who wants to admit to putting personal gain ahead of the greater good? It costs jobs, undermines businesses that play by the rules, and deprives the government of much needed revenue for vital programs. Statistics Canada says the underground economy totalled $42.4 billion in 2012, roughly 2.3 per cent of gross domestic product, much of it occurring in the construction, finance and real estate, retail and hospitality industries.
Canada and its global partners can't keep relying on whistleblowers, snitch lines and investigative journalists to assure the integrity of our tax system. So far, there is little evidence to show that the government has the political will to end this. It is estimated that Canada loses at least $7.8 billion each year from tax haven schemes. The practice hurts both federal and provincial economies. It also undermines public confidence in our tax system. The world of tax havens is a murky one inhabited by the very wily and the cynical.
As the Wynne Government prepares to release its next budget, voters are expecting to finally get a formal introduction to the Premier's plan for Ontario. But after years of public sector funding freezes, Ontarians are expecting more than just belt loosening: they want to see concrete investment in their collective future.