I should preface this by saying I am likely voting for Carney, but this backdoor stuff has gotta stop from all sides.
I propose that we push our representatives to regulate or remove the ability to dodge taxes. It’s welfare for the wealthy. They won’t be ‘paying taxes twice,’ as Carney states in the article. They would need to be paying it once for there to be a second instance.
This brings me to my second point. We also need to stop welfare for profitable entities: banks, corporations, and even individuals in the 1% pay net zero tax when you account for their government incentives and loopholes.
Less tax equals the enshittification of our health care, infrastructure, social insurance, and everything else that makes us NOT MURCANS.
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It does, but what i find interesting is that no one is asking how rich PP is.
How does a career politician accumulate that much wealth.
He’d rather not say. Good thing he’s not getting elected. It’s almost like he did a cost-benefit analysis and decided it would cost him too much personally to get elected as PM.
He won’t obtain a security clearance…
Shit is sus af
Capital gains should be considered a distinct issue from the use of offshore tax havens.
There is an argument to be made that a low capital gains tax increases investment which is something Canada needs as we rebuild our economy. There’s also an argument against it, that the market has failed and the government needs to take a more active role in areas like providing housing and distributing food.
However there is no such duality of arguments with tax havens. This would be an excellent issue for Carney to show leadership on, especially given his status as an insider and his participation in these schemes.
Would love to see this addressed in a debate or press conference Q&A.
I mean, how do we cut taxes AND increase spending? Trump-style Tariffs for thee and not for me?
This country needs an education on tax reform for the 1%. Since corporations are people, they’re in the 1%, also.
Our debt-to-GDP ratio is unconcerning despite the excesses of the Harper and Trudeau deficits.
So thanks to Martin and Cretien’s work in the 90 and early 2000s we have runway to increase spending and cut taxes. This is important to stimulate demand under these conditions, because we do not want capital locked away in savings or invested abroad during a time we need to build new infrastructure and industries.
As a mostly irrelevant aside, Corporations are not people in Canada — that is a quirk of American law and in general it doesn’t mean as much as people sometimes imply it does.
Wealth inequality must be addressed. Closing tax haven loopholes feels like it should be part of that. I’m not sure if corporate taxes would be more effective than wealth taxes or sharply progressive income taxes. It might be. Perhaps a progressive corporate tax would be useful? The specifics are way outside of my wheelhouse though — but it is Carney’s wheelhouse.
