Whether on corporate income, labour, international trade or anything else, taxes in Canada impose a huge economic cost
As Canadians prepare their tax returns, it’s fair to ask if we get good value for all the taxes we pay. We have a little extra time to ponder this, since the federal government has given Canadians another month to file tax returns as a result of the COVID-19 pandemic, to June. 1. So do…
COVID-19 has meant some shortages at grocery stores. But overall, the supply chains developed over decades fill our needs
Even as COVID-19 has put much of the economy into shutdown and caused a run at grocery stores on some staples, most of us remain generally well-supplied with food. That’s something to be thankful for. It’s one of the significant wonders of the modern economic system that most people, very few of whom are directly…
The best way to enrich society is to encourage billionaires to produce even more. We should never tax creativity of any kind out of existence
According to many, confiscatory taxes should be levied against the wealthiest members of society until billionaires are taxed out of existence. Just ask devotees of U.S. Democratic Party luminaries Bernie Sanders and Elizabeth Warren, their ideological counterparts in left-wing circles in Canada, and even 62 per cent of the audience at a recent TVO debate…
A more open immigration policy is one of the easiest ways a government can increase economic freedom, improve growth and cut poverty
One of the big policy issues for the federal government this year, as well as in the Conservative leadership race, is immigration. It’s an area worthy of attention. By a margin of 63 to seven per cent, according to a recent Leger poll, Conservative voters want their new leader to decrease rather than increase immigration…
When it comes to how and how much workers should save for retirement, the federal government doesn’t know better than Canadians themselves
As the calendar flipped to 2020, the federal government again made the Canada Pension Plan (CPP) tax more expensive, even though CPP doesn’t help the economy or workers. The combined employee and employer contribution rate has risen from 10.2 per cent in 2019 to 10.5 per cent this year, while the maximum taxable amount (but…
The Alberta government has not only set out a better direction on program spending, it also has a better plan on taxes
Alberta Premier Jason Kenney’s government delivered its first budget in October following the United Conservative Party’s victory over the NDP earlier this year. That budget sets a course Ontario should follow. Kenny’s mandate from voters was similar to that of Ontario Premier Doug Ford: to reverse course on the previous administration’s overspending, deficits and tax…
When the government makes employment more expensive, the sure result is fewer jobs
The federal government began 2019 by taking a bigger bite out of workers’ paycheques: the combined employer and employee Canada Pension Plan payroll tax rose from 9.9 per cent of earnings to 10.2 per cent. It’s the first of five annual payroll tax hikes. By the time the CPP tax hike is fully phased in, a…
The economic damage of supply management to Canadian families is significant. But we failed to get rid of it in recent trade talks
The new United States-Mexico-Canada Agreement (USMCA) is a mixed bag for Canadians. The bright side is that it’s certainly better than having no trade agreement, and is more desirable than the massive uncertainty that comes with not knowing whether an agreement will be reached. On the down side, trade between Canada and the United States…