Re: CBC Braces For Deep Budget CutsMar 12th, 2012
Of course there is. That's the whole purpose behind lots of government funds. My company get's R&D tax credits from the Feds. Some from the province too. All my hours are tax deductible, to the tune of about 35% of my salary. Up to the first $3 million in qualified expenditures. After the $3 million amount is reached, it drops to 20% on everything else.Quote has been trimmed, See full post:
They're called SR&ED credits. These tax credit subsidies are valuable to the government, because for every $1 the government gives up in taxes, they get back $1.17 roughly in the taxable spin-offs. Companies hire more employees, and buy more equipment, and all of that generates more revenue for the government.
So, let's look at the CBC data we have and do some simple math. $1.7 billion turned into $3.7 billion. Let's use a constant population to make it easy, say 34 million. That means that for the $50 that they collected from each of us, it generated nearly $109 in economic activity. That's a multiplier.
We have city cops here. Why do we need the RCMP? There's some out there who would probably even say we don't need them at all. So who get's to pick and choose what they pay for? Some people would disagree with you, and if you take your money back, what's to stop others from taking their money back? I'm pretty sure Gerry says no to death, so funding wars is likely out for him, and lots of others too.
Junior gave taxpayers borrowed money to spend. He might as well have cut out the middle man and gave the money directly to businesses.