Wednesday, April 23, 2014

Harper appears to have convinced much of the public that corporate income tax cuts and incentives for business are the essential tools for Canada’s prosperity.

In late March, Forum Research reported more than 60 per cent opposed. And on May 2, the parties that strongly opposed corporate tax cuts won more than 60 per cent of the votes, with Mr. Harper getting less than 40 per cent.

Once taxes are cut for corporations the only option left for the federal government to deal with the growing deficit will be to cut transfer payments to the provinces.

The Harper government is lowering corporate income tax rates 1.5 per cent to 16.5 per cent in 2011 and to 15 per cent in 2012.

Cutting the rate further to 16.5% will mean another $2.8 billion annually.

This will have a devastating impact on public services such as health and education. Currently 21.2% ($1.5 billion) of our province’s total revenue comes from health and social transfers and cost shared programs.

We all know a lower corporate tax has little impact on investments. Federal corporate tax rates have fallen 28% in 2000 to 18% in 2010. But investment remained the same !

Read More :

The Folly Of Tax Cuts

Tax Cuts Will Be Disastruous

Most Oppose Tax Cuts

 

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