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Canada Slashes Business Levies

zimmer

zimmer

Educating the Ignorant
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Canada Slashes Business Taxes to Lure Investment - WSJ.com

The latest tax cut is Canada's fourth in as many years and will lower its federal corporate income-tax rate from the current 18% to less than half of the U.S.'s 35%, at a time when economists and government officials fret that high U.S. taxes could be discouraging investment south of the border.

In 2012, Canada plans to cut its corporate taxes further, to 15%, bringing combined provincial and federal taxes to about 25%, from a combined average of 42.6% in 2000.
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Undoing the damage of the Commi sympathizer Trudeau and a series of Commi-Lib governments. Who would have thought Kanuckistan might be a better place to set up shop than the US. My, how far we've sunk.

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The Celtic tiger was fuelled by undercutting corporate tax rates. What price Ireland's economy today?
 
zimmer said:
Undoing the damage of the Commi sympathizer Trudeau and a series of Commi-Lib governments. Who would have thought Kanuckistan might be a better place to set up shop than the US. My, how far we've sunk.

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Oh deary me. Commie Sympathizer, commie lib governments...

I'm glad your dogmatism in American politics doesn't spill over too much into Canadian politics.
 
Manc Skipper said:
The Celtic tiger was fuelled by undercutting corporate tax rates. What price Ireland's economy today?
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To be fair, Irelands low tax rate did not have much impact on the failed Irish economy or even the "Celtic Tiger".

As for the OP biased partisan hatchet job.. the US has the highest tax rate on paper yes, but in reality most major companies dont pay much at all since they have deductions, tax breaks and miss-use tax laws to avoid paying any taxes at all. The only ones really "hurting" may be the smaller and medium companies who cant afford the big lawyer bills.
 
PeteEU said:
To be fair, Irelands low tax rate did not have much impact on the failed Irish economy or even the "Celtic Tiger".

As for the OP biased partisan hatchet job.. the US has the highest tax rate on paper yes, but in reality most major companies dont pay much at all since they have deductions, tax breaks and miss-use tax laws to avoid paying any taxes at all. The only ones really "hurting" may be the smaller and medium companies who cant afford the big lawyer bills.
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So if I look up corporate tax revenues, it'll say zero, right?
 
Jetboogieman said:
Oh deary me. Commie Sympathizer, commie lib governments...

I'm glad your dogmatism in American politics doesn't spill over too much into Canadian politics.
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He was branded one because he was one, and he lead Kanuckistan down the dark road of socialism. He was a Commi-Lib, back when Commi-Libs were coool baby. Groovy. Dontcha know it?

I know Kanuckistan well, having lived there too.

Obama is America's Trudeau in so many ways. Arrogant, defiant, economically illiterate, and dislikes the United States; that's why Tru-Obama seeks to change it radically.

Whereas Obama bows, Trudeau shouted Viva Castro! upon arrival in Cuba. Obama knows he has to follow Alinsky's Rules and seem non-threatening... but the game is up on America's Trudeau. It took Americans up to the start of the Tea Party, and election of Brown to figure Obama out. Kanuckistani's never really figured Trudeau out, letting the Commi Sympathizer serve for some 15-years. His political HIV still infects the country.

ACLU: A History of Ideological Exclusions
1952 - PIERRE TRUDEAU (Former Prime Minister of Canada)

The State Department blacklisted Pierre Trudeau after he attended an economic conference in Moscow. Though branded as a communist sympathizer, Trudeau got into some trouble in the Soviet Union after throwing a snowball at a statue of Stalin. In spite of these early diplomatic problems, Trudeau later served four terms as Canada's Prime Minister.
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Pierre Trudeau - A Systematic Look at Trudeau's Legacy
Mr. Trudeau's legacy has been particularly forgettable. The social models he promoted and admired, from outright Communism to the lib-left's peculiar quasi-Marxist, quasi-Keynesian structures of command economy, have not only been discarded and discredited, but ended up "in the dustbin of history," to borrow the Politburo's favourite idiom.
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David Frum (whose piece in The Wall Street Journal was titled "A Great Man, but a Catastrophic Prime Minister"), writing in this paper, helped to dispel one particularly misleading myth about Mr. Trudeau with his accurate description of Canada's Charter of Rights and Freedoms as "the opposite of a liberty-enhancing document."
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Mr. Castro acted as pallbearer at Mr. Trudeau's funeral because he and the former prime minister of Canada were friends. On a 1973 visit to Havana, Mr. Trudeau felt moved to shout "Viva Castro!"
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Mr. Trudeau embraced Communist despots wherever he could find them. On his four visits to China between 1960 and 1979, he continually played the role of appeaser and apologist, first to Mao Zedong, and later to his heirs. In 1973, he defended Mao's policies in Canada's Parliament, oblivious to (or uncaring about) the fact that he was seeking accommodation with a system responsible for the deaths of some 80 million people. In 1981, Mr. Trudeau expressed sympathy for Poland's General Wojciech Jaruzelski. This was after the notorious general in his trademark pink Neophane glasses banned Solidarity and jailed or sent into hiding its leaders, including Lech Walesa. In 1983, Mr. Trudeau argued with some passion in Parliament that he simply "couldn't believe" the Soviets would knowingly destroy a commercial airliner. This was after the Kremlin finally admitted knowing that Korean Air Flight 007 was a passenger plane, and justified shooting it down along with its 269 passengers because it was "spying."
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But in an astounding reversal, even the mention of Mr. Trudeau's Communist associations has been viewed as not quite comme il faut in Canadian society.
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Mr. Trudeau's economic ideas embraced wage-and-price control, deficit financing, confiscatory taxation, intrusive social engineering and the National Energy Policy.
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It's possible to quantify the economic results of Mr. Trudeau's legacy of Big Government, as the columnist Eric Margolis did recently. The national debt grew from $11.3-billion in 1968 to $128-billion in 1984. The annual federal deficit went from zero to $25-billion. Ottawa's spending rose from 30% of Canada's total economic output to nearly 53%; our dollar plummeted from around US$1.06 in 1970 to 66 cents today. The unemployment rate has been running between three and five percentage points higher here than in the United States, and Canada reduced itself from being one of the world's three richest nations 30 years ago (along with Switzerland and the U.S.) to one of the three leading debtor nations in the West, alongside Belgium and Italy.
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Though Canada no longer runs an annual deficit, the debt Mr. Trudeau entrenched, and Brian Mulroney continued to cultivate, remains. Today it exceeds half a trillion dollars.
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No... Trudeau was a free market Capitalist and staunch anti-Communist all the way.:roll:

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Trudeau ushered in multi-culturalism as official Canadian policy. Worst move ever in Canadian politics. He was a flaming liberal, and that's being kind to him. I grew up in Canada during those years, and it was nasty. I was too young to realize most of what was going on, but as I matured I began to feel the pinch of liberalism everywhere. Trudeau also began the move to universal healthcare, you know, that free thing all Canadians would get.

Of course it really wasn't free at all.. :)

Harper is worlds apart, and although not a perfect conservative, a planet size difference to the American left, and RINO's we have here. He's also very well spoken, and IMO make Obama's speech abilities look juvenile!


Tim-
 
PeteEU said:
To be fair, Irelands low tax rate did not have much impact on the failed Irish economy or even the "Celtic Tiger".

As for the OP biased partisan hatchet job.. the US has the highest tax rate on paper yes, but in reality most major companies dont pay much at all since they have deductions, tax breaks and miss-use tax laws to avoid paying any taxes at all. The only ones really "hurting" may be the smaller and medium companies who cant afford the big lawyer bills.
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Canada doesn't have any of that?

I've been paying business taxes for ten years, now and I've never paid zero.
 
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PeteEU said:
As for the OP biased partisan hatchet job.. the US has the highest tax rate on paper yes, but in reality most major companies dont pay much at all since they have deductions, tax breaks and miss-use tax laws to avoid paying any taxes at all. The only ones really "hurting" may be the smaller and medium companies who cant afford the big lawyer bills.
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There are legitimate tax breaks given because they stimulate an economy, but most of those big companies getting unfair tax breaks get them because of ridiculous earmarks and similar mechanisms where the federal government decides to put its thumb on the scales to decide which companies deserve to be the big winners. Doesn't it sort of remind you of recent injustices like: waivers for Obamacare, ethanol subsidies, extreme wind and solar energy tax credits?
 
zimmer said:
Undoing the damage of the Commi sympathizer Trudeau and a series of Commi-Lib governments. Who would have thought Kanuckistan might be a better place to set up shop than the US. My, how far we've sunk.

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Of course personal taxes are going up
 
zimmer said:
Undoing the damage of the Commi sympathizer Trudeau and a series of Commi-Lib governments. Who would have thought Kanuckistan might be a better place to set up shop than the US. My, how far we've sunk.

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Centers which have recruited Canadian trained doctors to move to the US now they the trend is reversing, in part due to the high insurance rates, Obamacare, and the fact that doctors will be among "the rich" the Obama government wants to attack.

Helping Canada also is the refusal of the American government to drill for more oil while Canada is drilling more than ever and exporting more than ever to their neighbour down south. Throw in NAFTA and low taxes and Canada, it they can manage to stay conservative, wkll do quite well.

But having said that, i would prefer that US policies change in order that both countries can do well, just as we have done in the past.
 
Grant said:
Centers which have recruited Canadian trained doctors to move to the US now they the trend is reversing, in part due to the high insurance rates, Obamacare, and the fact that doctors will be among "the rich" the Obama government wants to attack.

Helping Canada also is the refusal of the American government to drill for more oil while Canada is drilling more than ever and exporting more than ever to their neighbour down south. Throw in NAFTA and low taxes and Canada, it they can manage to stay conservative, wkll do quite well.

But having said that, i would prefer that US policies change in order that both countries can do well, just as we have done in the past.
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Taxes are higher in Canada then the US, the US is drilling for a lot of oil in Montana, the Dakota's and in the North East for natural gas. Doctors in Canada are limited in what they can earn due to universal health care. I doubt Obama care is going to cause doctors earn more in Canada then the US. I expect the high Can dollar is the main reason for the return of doctors to Canada
 
Lord Tammerlain said:
Taxes are higher in Canada then the US, the US is drilling for a lot of oil in Montana, the Dakota's and in the North East for natural gas. Doctors in Canada are limited in what they can earn due to universal health care. I doubt Obama care is going to cause doctors earn more in Canada then the US. I expect the high Can dollar is the main reason for the return of doctors to Canada
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There's not much new oil exploration going on in Montana and the Dakotas, by comparison. Most of the new drilling that's taking place is natural gas exploration.
 
Grant said:
Centers which have recruited Canadian trained doctors to move to the US now they the trend is reversing, in part due to the high insurance rates, Obamacare, and the fact that doctors will be among "the rich" the Obama government wants to attack.

Helping Canada also is the refusal of the American government to drill for more oil while Canada is drilling more than ever and exporting more than ever to their neighbour down south. Throw in NAFTA and low taxes and Canada, it they can manage to stay conservative, wkll do quite well.

But having said that, i would prefer that US policies change in order that both countries can do well, just as we have done in the past.
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I agree with this... on the scale of the ****storm, Canada's going to do all right all things considered... Canada is VERY resource rich, not just in oil, but also in things like Uranium, and potash (thankfully that was not sold to the Chinese).

That said, don't think that Canada is immune to the economic crisis... they got many of the same scams and frauds that the americans have been dealing with... but with 1/10th the people, the scale of the fraud is also about 1/10th... which is still pretty much an impossible fraud to pay back on though regardless. Also, canada DOES depend on a healthy US dollar and has effectively had a policy of ensuring that the Canadian dollar stays close to, but below parity with the US dollar, for the most part at least....
 
BmanMcfly said:
I agree with this... on the scale of the ****storm, Canada's going to do all right all things considered... Canada is VERY resource rich, not just in oil, but also in things like Uranium, and potash (thankfully that was not sold to the Chinese).

That said, don't think that Canada is immune to the economic crisis... they got many of the same scams and frauds that the americans have been dealing with... but with 1/10th the people, the scale of the fraud is also about 1/10th... which is still pretty much an impossible fraud to pay back on though regardless. Also, canada DOES depend on a healthy US dollar and has effectively had a policy of ensuring that the Canadian dollar stays close to, but below parity with the US dollar, for the most part at least....
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Canada has held up well because raw material prices have held up well.

This is not due to being next to the US, but due to the demand for the raw materials in China, India and some other developing nations. Manufacturing in Ontario and Quebec have been devastated
 
apdst said:
Canada doesn't have any of that?

I've been paying business taxes for ten years, now and I've never paid zero.
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So you are a multibillion dollar business?
 
PeteEU said:
So you are a multibillion dollar business?
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Multimillion dollar businesses don't pay nothing, either.

Any business that reports a profit, pays taxes on that profit.

The fairy tale that million dollar+ corporations don't pay income taxes, at all, is the best brainwashing job in modern times.
 
zimmer said:
Focus was on business, but you are right... on a personal level... neither are that attractive.

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Cutting taxes when you have a deficit is not a good thing either, as the deficit will have to be paid in the future through higher taxes. Controlling spending (which has been done in Canada) to eliminate the deficit and pay down debt would be my ideal. I would much rather have a surplus and use it to pay down the debt then see tax cuts and deficit spending
 
Lord Tammerlain said:
Taxes are higher in Canada then the US, the US is drilling for a lot of oil in Montana, the Dakota's and in the North East for natural gas. Doctors in Canada are limited in what they can earn due to universal health care. I doubt Obama care is going to cause doctors earn more in Canada then the US. I expect the high Can dollar is the main reason for the return of doctors to Canada
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Doctors don't tend to uproot their practices and families because of currency fluctuations.
 
Lord Tammerlain said:
Canada has held up well because raw material prices have held up well.

This is not due to being next to the US, but due to the demand for the raw materials in China, India and some other developing nations. Manufacturing in Ontario and Quebec have been devastated
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Not really.

Canadian Unemployment

Canada has very generous unemployment benefits and I know that there are jobs around for those who want them.

But certainly Canada relies a great deal on raw materials and are thus dependent somewhat on the economies of other nations. But some of these natural resources, such as water and oil, are pretty steady sources of income despite any serious downturns in other economies. And with the broadenng of Canadian exports to the Asian market we have become less dependent on the American economy though it still remains, by far, our greatest trading partner. The reverse is also true.
 
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