Increases to the Marginal Effective Tax Rate taking even more of your hard-earned money
New Conservative leader Pierre Poilievre is correct when he says governments discourage work with taxes and clawbacks. The Marginal Effective Tax Rate (METR) measures what government takes from each new dollar earned in taxes and clawbacks of income-related government benefits. In his leadership acceptance speech and an August 19 video called “Make work pay,” Poilievre…
If Canada continues to subsidize areas that aren’t economically viable, the standard of living in our country will continue to erode
An unusual amount of international attention was given to the Greenland election earlier this month due to plans for a rare-earth mine. This vast country has a population of only 50,000 and is an autonomous territory of the kingdom of Denmark. Denmark transfers US$740 million to a year to help fund Greenland’s government. This huge…
Should we continue to offer direct financial relief to citizens even beyond the pandemic?
Modern monetary theory (MMT) now plays a role in your life, whether you know it or not. The theory argues that a nation can never truly run out of money, and it advocates quantitative easing to solve a nation’s debt and unemployment problems. Historically, quantitative easing and currency devaluation have been used as last-resort options…
Finland acknowledged its two-year experiment a total failure
The COVID-19 crisis has brought back to the forefront the idea of a universal basic income or guaranteed annual income. It’s an idea that should be abandoned. In response to the economic crisis caused by the COVID-19 restrictions, the Canadian government has implemented the Canada Emergency Response Benefit (CERB). Eligible people receive $2,000 for a…
Governments inevitably make a mess of social welfare programs, wasting money, discouraging work and encouraging dependence
Long before the COVID-19 recession, the generosity of Canadians, measured by charitable donations, was already steadily falling. From 2008 to 2018, the percentage of tax-filers donating to charity fell from 24.1 per cent to 19.4 per cent. And the percentage of aggregate income donated to charity fell from 0.62 per cent to 0.54 per cent.…
Allowing employers to adjust quickly will improve the chances jobs are waiting for returning workers when the crisis subsides
By Alex Whalen and Niels Veldhuis The Fraser Institute Aside from the enormous health-related challenges due to the COVID-19 virus, employers and workers are feeling major economic pain with job loss, reduced income and revenue. The ability of businesses to adjust quickly will be key to stabilizing the economy and laying the foundation for recovery.…
On Tuesday, while activists reportedly tried to “arrest” Premier John Horgan at his house in British Columbia, Prime Minister Justin Trudeau spoke to the House of Commons, stressing the need for “patience” as rail blockades continue to prevent freight and passenger movement across Canada. The #ShutDownCanada movement is in full swing across the country, with…
The need for income security among middle-class Canadians is accelerating as the labour market changes
In Canadian policy circles, basic income has come to mean a stipend paid to families or individuals without the many conditions and rules that govern existing income assistance programs. The amount received is gradually reduced as income from other sources increases. However, basic income is not just about welfare reform. A basic income is most…
Prime Minister Justin Trudeau is following in the footsteps of his father. That’s leading to fiscal calamity and regional dissent
By Jason Clemens, Milagros Palacios and Niels Veldhuis The Fraser Institute As the dust settles from the federal election – which further exacerbated Western frustration, if not outright separatist sentiments – it’s worth considering the policy ebbs and flows of the Liberal Party under Pierre Trudeau and his son Justin. Therein lies the explanation and…
Any voluntary increase in spending by the federal government would further exacerbate the deficit
By Jake Fuss and Milagros Palacios The Fraser Institute Many economists have warned of a U.S. recession in the near future, in part due to the rise of trade protectionism, political turmoil and market volatility. Of course, a U.S. recession will also harm the Canadian economy and create significant problems for federal finances. So when…
New Conservative leader Pierre Poilievre is correct when he says governments discourage work with taxes and clawbacks. The Marginal Effective Tax Rate (METR) measures what government takes from each new dollar earned in taxes and clawbacks of income-related government benefits. In his leadership acceptance speech and an August 19 video called “Make work pay,” Poilievre…
