- The Economist
- January 12, 2012 - 09:14
Mr. Phelps, if you take on the assignment of educating these commentors, you will have a massive job as the level of education is very low, as it is with all business people. Should you except this assignment we wish you well in your Impossible Mission!
- January 11, 2012 - 10:46
While correct in that corporatins are "very speical pesons" they certainly are not living, breathing souls. They are simply accounting devices. Any taxes paid by corporations are essentially double taxed for the same activity when taxes are paid by shareholders. It is easy for those who want to influence policy to point to some faceless group of evildoers, "the Corporations" to try to drive for higher payments by others for benefits enjoyed by government officials and bleeding heart loosers. There is plenty to be fixed in the corporate world but one thing is not the Canadian tax structure. Further, if your indivivual tax burden is as you have said (probably more like Wild Rose stated) you should take your winnings and leave the table.
- Colin Burke
- January 11, 2012 - 07:47
Wild Rose, you are very nearly completely correct. But the government's maintaining the military is one of the things which enable it to practice theft as "taxation." Our military ought to be a militia of all able-bodied male citizens maintaining ourselves as our military. That this would not be practicable in a society surviving on its members' working for others in specialized jobs so as to make our defence itself a specialized job, is one of the great faults of our great capitalist economic system.
- January 11, 2012 - 05:55
Interesting observation Russel, Each family is a corporation being made so by taxing it as a total entity particularly where husband and wife work and are taxed on the total of their earnings, not individually. I like your idea of deductions for the running of this corporation Equal rights indeed.
- January 11, 2012 - 12:04
Actually, PeterTwo, families and married couples are never "taxed on the total of their earnings." However, retired couples are allowed to split pension incomes for tax purposes. This measure to allow seniors to save money was introduced by the federal government a couple of years ago, and they are promising to allow all married couples to split their incomes for tax purposes once the budget is balanced. Let's hope that happens soon!
- January 10, 2012 - 22:18
Wangersky is missing some key points, as usual: 1. When corporations are hit with higher taxes, they pass on the cost to their employees and consumers. 2. If Canada's corporate tax rate is higher than that in other jurisdictions, then corporations will use accounting measures to shift their profits to those other jurisdictions. That means they will pay taxes in those other jurisdictions instead of in Canada. It also works the other way around. If we have lower corporate tax rates, more corporations will choose to pay their taxes in Canada instead of elsewhere. 3. Since the federal Conservative government began phasing in its corporate tax rate reductions five years ago, corporate tax revenues in this country have actually increased each year, which illustrates point 2 above.
- Wild Rose
- January 10, 2012 - 08:32
Taxes are theft! I pay 60% of my income in taxes and we should lower taxes for those of us who work hard. Corporations shouln't have to pay tax because it makes them less profitable and when they are their stocks go down which effects the stockholder which i am. I never took a cent from this great counrty and it makes me sick that there are people who are welfare cheats and enviromentalist and immigrants and the so-called poor who are bleeding the country dry. People should stant up on their own feet. The only thing the goverment should do is fund the police and the army and let the private sector do everything else. People just dont' respect private property and hard working taxpayers and if they don't work they should look out for them selves!