New report finds low corporate taxes are harmful to the economy

petros

petros

The Central Scrutinizer
Nov 21, 2008
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captain morgan said:
Have any insights on the CCA issue as it relates to decisions to develop, upgrade, expand, etc?

... i thought not

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Works in finance he says. LOL

If he knew what CCAs were, he wouldn't call them subsidies.
 
taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
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mentalfloss said:
THE HIGH COST OF LOW CORPORATE TAXES

A deep dive into the financial statements of Canada’s biggest corporations shows these companies pay far less than the official corporate tax rate.

For every dollar corporations pay to the Canadian government in income tax, people pay $3.50. The proportion of the public budget funded by personal income taxes has never been greater.

At a time when Prime Minister Justin Trudeau has made tax fairness a centrepiece of his government, the Toronto Star and Corporate Knights magazine spent six months poring over tax data to determine how much income tax corporations are really paying.

We found the amount of tax most big companies pay has been dropping as a proportion of their profits for years, and not only because the corporate tax rate has been cut repeatedly. Canada’s largest corporations use complex techniques and tax loopholes to reduce their taxes significantly below the official corporate tax rate set by the government.

Our analysis of the financial filings of Canada’s 102 biggest corporations shows these companies have avoided paying $62.9 billion in income taxes over the past six years.

The 2011-2016 audited financial statements of all large Canadian corporations (those worth more than $2 billion) reveal they paid an average of 17.7 per cent tax.

During that time, the average official corporate tax rate in Canada for this group of companies was 26.6 per cent.

That 8.9 per cent gap translates into tens of billions of dollars that could have been used to pay for the schools, roads, hospitals, police and paramedics we all rely on.

Canada's Corporations pay less tax than you think | Toronto Star
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Another flat out lie.

mentalfloss said:
In 2015/16 — the most recent statistics available — Canadians paid $145 billion in income tax, while corporations paid $41 billion.
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And your point? Actually only some Canadians paid that income tax. Many, like you pay no income tax at all. SO it is the high income workers that are carrying the load for the lazy.
 
Cannuck

Cannuck

Time Out
Feb 2, 2006
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mentalfloss said:
Look, we already know cap's an expert on pipeline projects (none of which have been built yet), petros' is an expert on the absence of oil subsidies (which have already been confirmed by numerous sources), and Angstrom is an expert on life (heh).
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One has to wonder, with all that expertise, why they havent run for office. I mean, Pete's so smart, 6 months as Mayor of Regina, the place would no longer be a shithole
 
C

Curious Cdn

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Cannuck said:
One has to wonder, with all that expertise, why they havent run for office. I mean, Pete's so smart, 6 months as Mayor of Regina, the place would no longer be a shithole
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A nice lake surrounded with trees would help, too.
 
mentalfloss

mentalfloss

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Jun 28, 2010
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Cannuck said:
One has to wonder, with all that expertise, why they havent run for office. I mean, Pete's so smart, 6 months as Mayor of Regina, the place would no longer be a shithole
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He's going to invest in tulips.
 
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