Taxes – Part 2

21 04 2011

Once you have completed part one, read over the party platforms on taxes and economic policies.  This page on the Globe and Mail is a good starting point.  There are links to each party’s website where there are more details.

Which party platform do you prefer?  Comment and give reasons on this post.

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9 responses

25 04 2011
thebetterchris

I think the NDP has one of the better standpoints on taxation for several reasons.

Namely, the benefits for the small business tax rate and the increase in tax for larger corporations. I think that corporations have often been given too much leeway and I think with these new impliments, new, emerging businesses will have an easier time starting up.

Also, benefits for veterans and the plans to integrate them into new jobs is also a very clever idea. This doesn’t give them any of the government’s money, but instead boosts the economy by giving them jobs, which benefits both parties.

Finally, as I said in the post about food, I believe that promotion of local foods is a great thing. Boosting farmers markets and local produce both promotes economic growth of smaller business as well as helping the environment by cutting down transportation.

P.S. Jack Layton’s moustache doesn’t quit. That’s a pretty good point within itself.

25 04 2011
Linda Lei

I perfer Bloc Québécois’s economic policy. First, the party focuses on supporting the forest industry which can generate hundreds of thousands of revenue for the country. Secondly, the party realizes to help small businees growing can decrease umemployment rate. I agree to impose surtax on families because it can bring more money in for the government that can be spended on welfare, small businesses, employment insurance and small job budget. I agree with Bloc Québécois on the point that creating tax shelter for banks and big corporation is not necessary due to the extra money can be used elsewhere.

26 04 2011
bgray8

I believe that the NDP is displaying the best economic platform mainly because of their suggestion to contribute to both new and current businesses. Their tax changes directed at these two different business levels are both seen as a way to help start up new companies, while rewarding long lasting companies for their contributions. This seems like a good way to keep former businesses satisfied, while allowing for new companies to feel welcome.

26 04 2011
aenamorado

In terms of taxation, I would choose orange.

The main reason is that their aim is to create jobs. They are not hitting the typical said solution of tax cuts for corporations. They are almost going to the source and injecting it with life. They are doing this through a job creation tax credit. It provides the incentive to hire more people, thus with increased job creation in theory should increase economic activity.

I also feel that cutting small business taxes will really foster growth in that sector. Taxes would not stamp out the community gems and the long running family businesses, but would rather allow them to grow and adapt. And even though, they will be reversing the corporate tax cut, what allows Canada to remain competitive in comparison to our closest neighbor is the fact that the NDP will still keep it below the rates of the US.

26 04 2011
Carolyne Wang

I like the Liberal party’s platform most because of their policies on health and the environment. I like the party’s plans to promote healthy living by imposing stricter restrictions on trans fats and sodium, as these factors are key in causing heart disease and obesity, which is increasing in Canada. The Healthy Start program that provides healthy food to low income families is important as well because low income families have on average lower levels of physical activity and are more prone to unhealthy eating, and thus are more likely to become obese and develop heart disease and diabetes. Preventing health problems such as heart disease and obesity will be more economical than letting these problems run rampant and pose greater costs on Canada’s healthcare system in the future. Lastly, the Liberals’ plan to implement a cap and trade system for GHG emissions will be very effective, because through economics class we saw the benefits this system would bring, such as the creation of a market of pollution credits and more flexibility for companies with different production capabilities.

26 04 2011
Oleksandr Yesikov

I think the NDP has the best economic platform because their new tax benefits will affect the majority of Canadian citizens unlike the liberals where it only affects a small portion of people that are somehow connected to corporations. What i most like about their platform is that they are going to control the interest rate at which the credit cards can charge you because some of these companies charge unbelievable rates. I also like the fact the tax breaks are going to be focused more on the middle class people than the upper class because those people need the money more. I also like the tax credit that they will offer to employers for hiring new workers because i think this will decrease our unemployment rate.

26 04 2011
Dylan Huber

I like the liberal’s policy. First off I liked the idea of putting 3 billion dollars to get rid of the deficit that the conservatives put the country in. I also liked the idea of freezing the corporate tax rate since it already is competitive and there is no real reason to drop it. I would rather it be mismanaged by a bureaucratic nightmare then allowed to just sit in the pockets of foreign companies. It also really easy not to pay the corporate tax in the first place so cutting it is just taking away from what may potentially be taken. I also like the idea of investing in digital technologies however I dislike the only truly canadian companies they mentioned were Open Text and RIM. Ubisoft and EA only have offices in Canada. Despite being a very unstable area, it also very high yield and offers a lot of opportunity. I also applaud the efforts for the buy local funds and standards on salts. I simply hope it does not go like this:
http://www.cbc.ca/news/canada/story/2011/04/26/f-product-label-fresh-produce.html
Aside from semantics issues, the liberal values mirror my own and that is why i support their platform.

27 04 2011
susanyinshan

I prefer NDP’s party platform for economic policies, because they truly considers the needs of the small businesses and companies and each and every individuals all over Canada instead of favouring just the big corporations and upper class individuals. First, they introduced the cutting of the small business tax to a rate around 9% from the original 11%, which will allow more small companies to operate without going out of business or bankrupt. Then, they introduced the increase in the corporate tax to a rate around 19.5% from its current 16.5%, which will restrict the big companies from expanding too quickly and gaining too much profit and market shares. Lastly, they introduced the idea to limit the credit card interest rates to a maximum of 5% over prime rate, which will dramatically help the number of people who are deep into debt because credit card is usually the one that is the main cause to household debt as it has some of the highest interest rates.

28 04 2011
ilzz

I would agree most with the Conservative position. All of the other parties are making promises with hectic price tags which our government cannot necessarily afford. The conservatives put forward a modest proposal which would cause an increase of doctors in under-served rural areas, by forgiving parts of their student loans.
Moreover, the conservative platform targets the people’s health directly. Rather than promising to somehow get more doctors to treat unhealthy people, they encourage citizens to join gyms by using tax credits. This could actually put an ease on the health system if it works.
The last health accord in 2004 made by Paul Martin allowed provinces to practically take as much money from the federal government for healthcare as they wanted. This is obviously unreasonable and the conservatives plan to change this in 2011.

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