Wednesday, September 21, 2005

Canada second highest business taxes in the world

Canada's economy as we all know is a branch plant of the USA. There's
not really anything sizeable done here that isn't owned by an American
company. Why? Because we have the second highest business taxes in the
world. Second only to Communist China, as it happens. The Americans
are investing with untaxed foreign money, that's why they own
everything. Hell, that's how I bought my house! Made money in the
States, bough a house in Canada with it. No way I could have saved up
the down payment in Canada. Nuh uh.

What's the Liberal plan to fix our economy?

> In a campaign-style speech yesterday, Paul Martin spoke at length
> about the Liberal government's economic strategy, but there was no
> mention of tax reform.
> Instead, the Prime Minister concentrated on the need to boost
> education, and it now appears that education and skills training
> rather than tax cuts will form the core of any productivity push from
> Ralph Goodale, the Finance Minister, ahead of the next election.
They want to produce a country of unemployed Ph.D.s, pretty much. Cheap
skilled peons for American business to use and for Ottawa to tax.
Here's the breakdown:

> Canada's marginal effective tax on business capital -- combining such
> things as depreciation deductions together with capital and corporate
> tax rates -- averaged 39% in 2005, the second-highest among 36
> industrial and leading developing countries.
> Canada was lower than China at 45.8%, but higher than Brazil at 38.5%,
> the United States at 37.7% and Germany at 36.9%.
> Importantly, Canada's marginal effective tax rate (METR) was well
> above burgeoning economic engines like India at 24.3%, Poland at 20.2%
> and Ireland, which has slashed its rate to 13.7% and seen economic
> growth explode.

And the tax on those chronically unemployed yet ever so educated workers?

> Marginal income tax rates -- taxes paid on additional earnings
> received -- like overtime work or bonuses -- discourage extra effort.
> This is especially true for lower-income brackets because benefits and
> credits are clawed back if income rises only a small amount.
> C.D. Howe says the average federal-provincial marginal tax rates for
> families with two children is about 60% in the $25,000 to $35,000
> income range. Once $20,000 in income is reached, marginal tax rates
> are never below 40% and tend to be close to 50%.
> If a mother with three children enters the work force, earning a
> modest income of about $30,000, she will pay significant income, sales
> and payroll taxes as well as lose child tax benefits and other
> income-test credits.
Branch plant economy. Yeah baby. Even the European Worker's Paradise
has lower taxes that Canada. And what do we get for our money? Adscam.

But hey, the Harper Conservatives are EVILE! Bad men, fear the bad men!

The TAX ME Phantom

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