I think this was originally Trudeau's idea.
https://toronto.ctvnews.ca/ontario-...retroactive-rebates-to-begin-in-may-1.5837346
https://toronto.ctvnews.ca/ontario-...retroactive-rebates-to-begin-in-may-1.5837346
Daycare
- Thread starter Darts
- Start date
We have had that in Quebec for many years. Both my kids went to 7$/day daycare. Anything to help young Canadian families have kids is a win-win.
Especially in our current crazy cost of living situation.
Especially in our current crazy cost of living situation.
It is very important for the economy to give both parents access to the work force.
Have you noticed the every single business has a Help wanted sign up.
Why do both parents need to work? Shouldn't a single income be able to support a family like it used to?
So we are subsidizing daycare so both parents can go to work.
Why?
Because our politicians have made living unaffordable...and to remedy their incompetence they need more tax dollars.
Tax dollars buy "free stuff" to give to people who keep voting for them.
When that money runs out, they can't afford to give more free stuff so they need more money from taxes to stay in power.
Taxes make everything more expensive.
So someone who works a part-time job will quit and can collect welfare and make the same...or more...with someone else's money.
...and we're all happy about $10/day daycare?
OMFG
Because it beneficial for society, i.e. the economy. The higher the labour participation percentage is, the higher will the GPD, taxes and general living standards be.
Really? My dad worked and my mom stayed at home with the kids. Blue-collar non-union worker managed to raise a family, buy a home and new cars along the way and put the kids through school.
Try that today...never happening.
Why?
Best household was when one parent stays home to look after the kids
...daycare are not substitute to parenting, they're an alternative...
Capitalism drives innovation and growth. That's not the issue.
Socialism is the issue. Someone else's money has to pay for "free stuff" our politicians bribe voters with to stay in power.
Sure, socialism is the reason salaries for the middle class has fallen relative to everything else, so your dream of a one salary family with a women staying home to look after children
Is no longer feasible.
Give me a break.
So how do you do that?
How do you make it so that only one person in a relationship needs to work to support a family?
Also, taxes (all types) were (much?) lower in the 50's and 60's. Then Trudeau the Elder came on the scene.
Corporate taxation was not.
The offloading of corporate taxation as a percentage of overall taxation onto the backs of the working folk was a seismic shift.
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Long story short. I think income by corporations as a % of total income has also declined.
Long story - fact:
100 years of Canadian income taxes (thestar.com)
100 years of Canadian income taxes
You have to go back 65 years to 1952 to find the last year that people and corporations paid the same amount in income tax. Since then, the gap has steadily grown. Here’s how we got here
By Toby A.A. Heaps Corporate Knights, Marco Chown Oved Investigative Reporter
Thursday, December 14, 2017
Canada’s top corporations often pay far less than the official average corporate tax rate. As revealed by a Toronto Star/Corporate Knights investigation, Canadian companies have used complex techniques and loopholes to reduce their tax bills by $62.9 billion over the past six years.
As corporate tax rates have dropped, people have had to make up the difference. In 2015-2016, for every dollar that corporations paid in tax, the Canadian public paid $3.50.
You have to go back 65 years to 1952 to find the last year that people and corporations paid the same amount in income tax. Since then, the gap has steadily grown. Here’s how we got here:
1917: Finance minister Sir Thomas White introduced “temporary” corporate and personal income taxes to finance the war effort.
1926: Over a series of four budgets, finance minister James A. Robb cut taxes on lower and middle income brackets in half and for the top bracket by a third. His reforms went through shortly before he died days following the October 1929 stock market crash.
1939: The excess profits tax was introduced to tax profits above a “standard level” determined by Ottawa. In 1942, the tax rate was increased to 100 per cent of the “excess profits,” of which 20 per cent would be later refunded.
1943: Finance minister J.L. Ilsley introduced “pay as you earn” measure, where employers deduct employees’ projected taxes from their paycheques.
1962: John Diefenbaker appointed a Royal Commission on Taxation, later called “the Carter Commission” after its chair, Toronto accountant Kenneth Carter.
1967: The Carter Commission report found that low-income earners were paying more than their fair share of income taxes because of how the tax code treated different types of income, and recommended that Canada consider a “buck is a buck,” and tax it, regardless of its source. The commission’s recommendations would have seen 50 percent of the population have their taxes reduced by more than 50 percent, 10 percent would have their taxes increased by more than 15 percent and the rest would not see much change.
1973: Finance minister John Turner indexed exemptions and tax brackets to inflation.
1974: Turner introduced subparagraph 95(2)(a)(ii) of the Income Tax Act, which allowed Canadian companies to bring home dividends tax-free from tax havens like Barbados.
1978: A presentation by two Price Waterhouse accountants (Bob Brown and Carl Steiss) for the Institute of Chartered Accountants showed how 95(2)(a)(ii) could be used to create cross border double dip structures, deducting the same interest expenses multiple times. It was in the days before everybody had a cell phone, and mid-way through the presentation about 80 percent of the room full of accountants emptied out to find pay phones to call back to the office to let them know there was this new trick that could be used to slash corporate tax bill.
1981: Finance minister Allan MacEachen caught the public by surprise with a revenue enhancing budget proposing to reverse tax breaks for the rich and reduce taxes on 12 million Canadians albeit by an “infinitesimal amount.” It didn’t go over well, and opposition, much of it from business lobbies led to the unwinding of many of its 150 proposed tax measures.
1987: Conservative finance minister Michael Wilson began a Canadian tax reform that included a transition from the Manufacturer’s Sales Tax to the Goods and Services Tax (GST).
1997: The Mintz Technical Committee on Business Taxation Report recommended cutting tax rates and scaling back many of the corporate tax breaks. Over the next 20 years, the federal government and the provinces reduced personal and corporate taxes, but left many of the corporate tax breaks in place.
2007: Conservative finance minister Jim Flaherty promised a crack-down on tax loopholes, putting an end to the practice of companies borrowing in Canada to fund business operations abroad, then deducting the interest paid against Canadian profits. “The free ride is over,” he said. “Everyone’s going to pay their fair share.” After being besieged by the business community who said the change would hobble them internationally, Flaherty threw in the towel and the change never went through.
Bear in mind that most income is earned by individuals and not corporations. If the tax take from individuals is higher than it is for corporations it is because individuals have a higher income as a group than corporations.
There must be a chart that shows aggregate income by individuals vs aggregate income by corporations.
There must be a chart that shows aggregate income by individuals vs aggregate income by corporations.
