Housing Crisis, Packed Hospitals and Drug Overdoses: What Happened to Canada?
Housing Crisis, Packed Hospitals and Drug Overdoses: What Happened to Canada?
From Toronto to Vancouver, some residents are losing faith in a government social safety net that is central to the country’s identity.
What a mystery this is.
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Corporate taxes used to cover over 30% of government revenue, it's 10% now. The top marginal income tax rate peaked in the 1960s at somewhere around 80% on income exceeding ~3M/year (today's money). We've had 4 decades of tax cuts while the cost of delivering services has increased more or less with the inflation rate. Private equity funds now have favourable tax treatment, and stock buybacks, previously considered illegal stock manipulation is a common practice. And so on and so forth.
If you want what you had, you have to do what you did.
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I'm inclined to suspect the corporate taxes covering 30 percent down to ten, is more related to an increase in government spending and increasing individual's taxes, than cutting corporate, because, believe it or not, they tax the living shit out of businesses, much more and it'll start to cause failures. Often times businesses that would be quite profitable just on the other side of the border, are barely making it despite comparable sales, and taxes go up tomorrow,
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Corporations aren’t your friends, they aren’t going to give you any preferential treatment that they aren’t seeing the better side of.
Capital flight is also not a thing, it’s a bogeyman set up by conservatives to avoid raising taxes.
Businesses also won’t leave. Their remarkable treatment in Canada will go down to slightly less remarkable. They moan and groan and set up a whole ad campaign about how this is going to hurt the consumer but that means it’s working. And if you mean “small business” there are so so so many way ways to create exceptions or offer grants to Canadians starting or operating small businesses, where the target is larger oligopolies and conglomerates.
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It's absolutely a thing, most corporations are a couple people running a business, and capital flight is absolutely a fucking thing, Just look at the difference between Saskatchewan and Alberta over 50 years because of different tax/government policies with the same base conditions and people. And then look at Montana for a third perspective of the same base conditions. It is so tiring listening to people buy these asinine takes in complete rejection of reality.
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Funny that you mention complete rejection of reality... Did you even read the article?
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I posted it for the title, not cause I believe everything I read in it.
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Well then your a fucking idiot. And I vote you off this country fuck face
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Being called this by what appears to be a Liberal supporter is actually a compliment.
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Once again. Corporations aren’t your friend, no matter the head count. It’s that simple. Don’t simp for people who don’t give a fuck about you or your family. Full stop.
Second. Again. Capital flight is a boogeyman. Alberta and Sask aren’t comparable. Alberta has cities, amenities and established populations, Sask doesn’t. If you want to take anything flight seriously, how about brain drain in our high paying, sought after career sectors, where we educate our population only for them to leave for better opportunities elsewhere? Doctors aren’t going to stay for the pittance, and software engineers aren’t going to keep staying for the remarkable amount of investment the government is putting to try to establish STEM in Canada because the private sector isn’t competitive with their salaries. Fuck your capital flight, if these are the corporations you’re afraid of leaving I’m more than willing to say goodbye, because the ones who fill the gaps will likely see the case studies and change course.
I’ll give you a spoiler alert. They’re not going anywhere. Just like they haven’t left Aus, NZ or the other dozen and change 1st world countries with high corporate tax rates than Canada. It’s not happening, you’re afraid of a ghost.
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they tax the living shit out of businesses
Yeah. It's how we spend on keeping Canadians healthy and happy like every other happy country does. Keep up.
And TEN IS LESS THAN THIRTY like it was in the Good Old days we seemed to survive before, in those years when we built things like bridges and railways (those are the rotting, unmaintained things we non-helicopter-owning wage-slaves use) like Sweden and Denmark do to this day.
increase in government spending
TAX AND SPEND. Keep up. It's a whole thing.
quite profitable just on the other side of the border
Unless you mean on Miquelon or Greenland, you must be talking about the border to that user-pays, fuck-the-plebes, birth-slavery, medical-bankruptcy hell to our south.
Having lived there, I fervently hope you aren't holding that nearly-fascist mess as a goal. Alberta is cruel enough for us; let's not go full American.
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they tax the living shit out of businesses, much more and it'll start to cause failures.
Why?
Taxes are on revenues, not gross profits. That's why EBIT exists as a performance measure.
As a quick example of a made up corp:
Gross profits 1.1B
COGS + OpExp 1.0B
EBIT 100M
Taxes 10% (30%)
Revenues 90M (70M)
Now mom and pop barely alive
Gross profits 500k
COGS + OpExp 500k
EBIT 0
Taxes 10% (30%)
Revenues 0 (0)
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Hey genius, people don't continue on with businesses of zero net. Taxes in many provinces are at the point what would be otherwise profitable businesses aren't worth it, that's why you see so many abandoned. Taxes aren't just on revenue, they're on every aspect.
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Hey genius,
Not a genius, just a bit of experience with small non-profits that share commonality with small businesses.
people don't continue on with businesses of zero net.
They absolutely do. A lot of my friends are professionals that run net zero after they pay themselves.
Taxes in many provinces are at the point what would be otherwise profitable businesses aren't worth it, that's why you see so many abandoned.
No, they are abandoned because they failed or the owner didn't want to run them anymore
Taxes aren't just on revenue, they're on every aspect.
Yeah sure, but that has to do with an increase in COGS, not the increase of tax on the business. There as soany impacts on COGS that you can't narrow it down to a single thing. Even large corps switch between vetricalizing and not depending on situations beyond more than just tax.
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Lets break this down for you. Take beer. a bar doesn't pay gst, pst or lct when it buys it, only when it sells it, but there's already an excise and other taxes on it long before it reaches point of final sale. so say 45-55 dollars price a 24 case for the liquor store or bar if in a province with a form of LCB monopoly yet. the bar can't sell it for less than 70 bucks or it's paying you to leave with it. 75 now as of the federal increase depending on province, just to not lose money selling beer to leave the premises, and you don't want to increase it to a point you make money off that, because it's at least getting people in the door because you're price matching the liquor store, Then the carbon tax. the bills. the taxes on those, the tax tax tax on tax. if you do manage to make any money after all that, they tax that too. Small business books look like the shit people used try kill the sheriff of Nottingham and prince john for.
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That's a long winded explanation for saying taxes are one part of COGS. Do taxes impact COGS? Absolutely. But so do other regulations, market pressureus, trade deals, weather, road repairs, train breakdowns, flu season intensity, water table levels, how much commission the sales guy gets, etc, etc, etc.
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