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taxes

Taxes and fairness, Part 1: Danny’s other legacy

in Featured/Indy Essay/Journalism by

We hear a lot about Muskrat Falls as Danny Williams’ legacy, but it is hardly the only problem he left us to sort out. He rejigged provincial income tax rates between 2007 and 2010 so as to primarily benefit our wealthiest citizens. The result is that people earning in excess of $100,000 a year have since received – in the form of reduced taxes – more money than the province normally raises through income tax in an entire year. Income distribution changing Income figures for 2015, recently released by the Canada Revenue Agency (CRA), reveal our province to be profoundly divided. Our income distribution now exhibits a strangely inverted symmetry: more than half the people earn only a fifth of the income, while a fifth of the people earn more than half. This pattern is new and results from changes in provincial government policy that favour high-income earners. This policy…

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Looking back at a decade of PC tax cuts

in A Measured Opinion by

With the province reeling from a crash in oil prices and record budget deficits, we look back on a decade of tax cuts by the PC Government, and how much they cost.

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Budget 2015 is bad for the economy

in Holding the Line by

The PC’s austerity budget ignores the fiscal realities of a resource-based economy.

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Let’s raise taxes on the rich

in A Measured Opinion by

Years of unaffordable tax breaks for rich people have contributed to a yawning budget deficit. It’s time to reverse course.

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The time for a carbon tax is now

in A Measured Opinion by

With oil prices falling and budget deficits growing, a carbon tax is the smartest way to deal with the province’s fiscal crisis.

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When one door closes…

in Uncategorized by

The dropping price of oil reveals more than just the dangers of relying on oil revenue. It also reveals the dangers of letting high income earners and corporations skip by without paying their fair share of taxes.

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Government debt, social progress: working out the balance

in Going Deeper by

Why individual and government debts are different in a very important way

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Dollars and Nonsense

in Going Deeper by

Why income splitting is an unjust waste of money

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Anatomy of a boom (Part 2)

in Politics by Numbers by

If the boom has not led to a marked increase in inequality, the same cannot be said for government policies. They markedly increased our levels of inequality.

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How is our 1% different?

in Featured/Politics by Numbers by

Ownership of stocks, bonds, real estate and professional incomes set the 1% apart from the rest of us.

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Case for amalgamation ‘weak’ – report

in Daily Indygestion/Email Indygestion/Journalism by

A consultant’s report commissioned by the City of St. John’s is suggesting that the case for amalgamating the Northeast Avalon isn’t strong. “The report does not present a compelling case for amalgamation and may in fact offer reinforcement to opponents of amalgamation,” wrote Robert Smart in a memo obtained by the CBC. Smart said the report found amalgamation would likely decrease taxes for St. John’s residents but increase taxes in Mount Pearl and Paradise. Source: CBC

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Economic Action Plan, pt. 1

in Featured/Journalism/Politics by Numbers by

What does the feel-good ad about taxes tell us?

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