The study challenges the Fraser Institute's assertion that Canadians pay upwards of 40 per cent of their income in taxes.
Leading up to the Federal government's 2017 budget, there was speculation about an increase in the tax on capital gains. The current tax exemption is disproportionately beneficial to the wealthy, and it has little in the way of general economic benefits. Only half the value of capital gains is currently taxed.
The underground economy is toxic. It costs jobs, makes it harder for above-board businesses to compete and ruins faith in our tax system. It can also leave you holding the bag when you get sub-par results or someone gets burned in a cash deal. But there is something we can all do, and it's simple.
The premier said that the new tax on home heating fuels and gasoline is necessary because Ontarians are "very bad actors in terms of our per capita emissions." That's right, the new tax on keeping your family warm in the winter and on your daily commute to work is because Ontarians are "bad actors."
Go on and boycott Nestlé. Here's a handy guide to all their products. But realize that despite Nestlé being a bad corporate citizen and the world's biggest bottler of water, boycotting them will not solve the problem. The issue isn't just bottled water, it's that we allow companies to drain our water table for what amounts to free. It's time to disrupt the entire beverage market's business model, which is to extract an ingredient for basically free and sell it for an absurd amount. We need to charge them a rate for that extraction that serves the public interest.
At a time when many B.C. taxpayers are struggling under the weight of their heavy tax burden, growing personal debt, and an incredibly high cost of living, our locally elected officials are there to remind us all of how hopelessly out of touch they are.
The money raised through those taxes will have more impact if it is used to support prevention and counselling than it will by becoming part of general revenues used for various purposes. Second, the taxes will more likely be supported by the public if they are used for these specific ends.
For many families a cottage is a place of special moments, milestones and memories. However, having a recreational property is not always fun and games -- there are also many costs and responsibilities that come along with ownership, especially when transferring the property to your children.
By making it easier to navigate the tax rules and meet their obligations, Canadians will spend less time and less of their money on preparing their taxes, leaving more in their pockets. For Canadian businesses, productivity could improve as they spend less time, effort and capital dealing with tax compliance and red tape.
"There are lies, damned lies and statistics" is the well-worn phrase, but nothing better sums up the recent Fraser Institute scare mongering about taxes being the single largest budget item of Canadian households -- as catchy as the headlines may be, it is alarmist spin. Such biased economic exercises raise a fundamental question: Just what indicators should we be using to keep score on Canada's economic performance?