New report finds low corporate taxes are harmful to the economy

[Corduroy]

That is essentially the point we have been trying to make. How do you want to define fair share?

From each according to his ability, to each according to his need.

 

[captain morgan]

Let's say a Corp has a profit of $1,000,000. A chunk goes to the Feds, the Province and Municipality.

Call it 25% for the sake of example.

Say the Corp has 1000 shares and each share gets a dividend of $750.

That $750 in Joe Blow's hands now gets taxed again at the personal income tax rate so in reality almost half that Corporation's income went to Govt.

Add in payroll taxes, business licensing and the various contributions like CPP or EI.

That % figure changes upwards

The point is the rich pay less. The poor paying more is just gravy.

WTF?

No they don't. Taxes are on a sliding scale. You've heard the term " the more you make the more they take" haven’t you?

2016 Federal income tax rates. $45,282 or less. 15% $45,282 to $90,563. 20.5% $90,563 to $140,388. 26% $140,388 to $200,000. 29% More than $200,000. 33% * These amounts are adjusted for inflation and other factors in each tax year.

Don't forget the provincial tax component and hell, we haven't even touched on the muni taxes either

From each according to his ability, to each according to his need.

Thank you Ms Lenin

 

[Corduroy]

My pleasure, Comrade Morgan.

 

[petros]

Add in payroll taxes, business licensing and the various contributions like CPP or EI.

That % figure changes upwards

And Carbon Tax.

 

[Twin_Moose]

flat taxes infer to me that poor people pay more. We currently graduate the system so that the more you make the more you pay, therefore if the system changes to a single rate it must rise for those in the lowest brackets.

Yes the low income will pay a little more while the high income earners will pay the same. just for easy math lets use 25%, and lets use the bench mark of $100,000.00 as high income earner his tax bill would be $25,000.00 dollars on a basic T4 form, where lets use 25,000.00 for low income earner that would be $6250.00 on a basic T4. that would be a fair proportionate tax system. Basic living and below are tax free as before, and Corp. tax would be the gravy on top.

 

[petros]

If anyone still wants to bark about the privelege of employment and social benefits offered after having an understanding of the cost of providing that package has screws loose.

 

[captain morgan]

And Carbon Tax.

Seeing how we're talking fairness here, what say that everyone, regardless of the # on your tax return, gets a GST rebate cheque.

... That would be fair, right?

 

[Cannuck]

Why isn't fair for all tax payers pay their proportionate fair share we all enjoy the same amount of services, in fact the lowest income persons probably enjoy more services than the upper income persons

Why is proportion of income the standard for fairness? Why not number of children or age?

 

[petros]

Seeing how we're talking fairness here, what say that everyone, regardless of the # on your tax return, gets a GST rebate cheque.

... That would be fair, right?

Of course. That would pay for a nice holiday.

Tourism is essential to economies.

 

[Cannuck]

Let's say a Corp has a profit of $1,000,000. A chunk goes to the Feds, the Province and Municipality.

Municipalities don't tax profits. **** you're a moron

 

[petros]

Why is proportion of income the standard for fairness? Why not number of children or age?

CTB silly.

Municipalities don't tax profits. **** you're a moron

In business it equates to about 12% kicked to the municipality by Feds and Province and commercial property taxes.

Need a link dink?

 

[Twin_Moose]

Why is proportion of income the standard for fairness? Why not number of children or age?

Why wouldn't that be included in the tax deduction portion of the income tax?

 

[petros]

Why wouldn't that be included in the tax deduction portion of the income tax?

No CTB if you didn't.

 

[Walter]

Let's say a Corp has a profit of $1,000,000. A chunk goes to the Feds, the Province and Municipality.

Call it 25% for the sake of example.

Say the Corp has 1000 shares and each share gets a dividend of $750.

That $750 in Joe Blow's hands now gets taxed again at the personal income tax rate so in reality almost half that Corporation's income went to Govt.

Dividend income is taxed at a lower rate than regular income, but it's still too much.

 

[Corduroy]

Why is proportion of income the standard for fairness? Why not number of children or age?

A tax on age? That might actually work. People are always saying it'll take years to pay off the debt. Why not tax years?

A progressive tax that keeps everyone the same age, but what's the optimal age?

 

[captain morgan]

CTB silly.



In business it equates to about 12% kicked to the municipality by Feds and Province and commercial property taxes.

Need a link dink?

How about use of muni resources.

Muni taxes are (in part) a % based on the value of a home... The allocation for education per child isn't different from one community to another... The cities don't plow the streets of neighborhoods based exclusively on how much property tax they paid.

... i'm just thinking about fairness here

A tax on age? That might actually work. People are always saying it'll take years to pay off the debt. Why not tax years?

A progressive tax that keeps everyone the same age, but what's the optimal age?

Birth til death

 

[Cannuck]

CTB

Never got any despite having three kids silly

 

[petros]

A tax on age? That might actually work. People are always saying it'll take years to pay off the debt. Why not tax years?

A progressive tax that keeps everyone the same age, but what's the optimal age?

Quit Stalin and give your opinion.

 

[Cannuck]

CTB silly.



In business it equates to about 12% kicked to the municipality by Feds and Province and commercial property taxes.

Need a link dink?

Don't bother. Municipalities don't charge income tax...and property taxes aren't based on income moron.

 

[petros]

Never got any despite having three kids silly

Of course you didn't.