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Thread: Jason Kenney and the UCP Performance - first year of power

  1. #501

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    What pundits bely the fact that most corporations pay far less than the nominal tax rates or pay no taxes for years because of the complex tax codes that have all sorts of loopholes, writeoffs, credits carry overs and other schemes that are unavailable to the general public.

    Corporations are lined up with politicians to spend millions on lobbying lower tax rates, subsidies, tax free incentives and other corporate welfare and are the first to threaten moving jobs elsewhere if they don't get what they want. Many of the offenders are foreign multinationals who shift huge amounts of profits out of the country or have set up offshore tax havens and then falsely claim that they are losing money and pay zero taxes.

    If they lower the tax rate, then there should be a minimum mandatory tax rate ( suggest a minimum of 5% ) even if the company is losing money.
    If should be factored in as a cost of doing business like rent or utilities. If a company cannot pay their minimum base tax rate then they are not being run correctly. Furthermore, all the subsidies, loopholes and corporate welfare of this communist corporate system, should be shut down. If a company can't pull itself into profitability without sucking on the teat of the taxpayer bosom, then they don't deserve to exist.

    Just look at your property taxes. The COE cares not a bit if you can survive on your income or lost your job, you have to pay their tax.
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  2. #502
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    So let’s make sure we have a job and income to do so. Scaring corporations away is not the answer. A society needs corporations, if they leave, we leave. I hate the thought of having to move away to find work. As corporations keep on shutting down or moving we move closer to a situation like the Atlantic provinces. Not necessarily large companies. A lot of medium and small ones. Driven through the ghostly streets of Nisku lately?

  3. #503
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    ^^

    it's not as simple as saying "corporations pay far less than the nominal tax rates or pay no taxes...".

    the intention of the tax act is that all income is ultimately taxed at the same rate. one of the reasons that corporations are taxed at a lower rate is under the assumption that earnings will - at some point - be paid to the shareholders. that money will then be taxed as income on their returns. corporations pay a lower rate and dividends are taxed at a lower rate than "regular income". taken together however, there should be no difference in the taxes paid on individual earnings and he cumulative taxes paid on corporate income and received dividends.

    i agree with you completely that the system is inordinately complex and there are too many examples of vested or special interest group incentives that are ultimately unavailable to the general public but it's also worth noting that the vast majority of those are not available to the vast majority of corporations either.

    as for the "minimum mandatory tax rate" you suggest, the hst and property taxes and payroll taxes and wcb contributions and cpp contributions and ui contributions likely already (rightfully) serve that function. what you are proposing instead is exactly the same as the property tax example you cite. that issue is less likely appropriately solved by making the income system more like the property tax system (i.e. a tax on capital and not on income) but by making the property tax system more like hst (i.e. it should be assessed and paid based on services provided to the asset, not on the value of the asset).
    "If you did not want much, there was plenty." Harper Lee

  4. #504

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    Quote Originally Posted by Drumbones View Post
    So let’s make sure we have a job and income to do so. Scaring corporations away is not the answer. A society needs corporations, if they leave, we leave. I hate the thought of having to move away to find work. As corporations keep on shutting down or moving we move closer to a situation like the Atlantic provinces. Not necessarily large companies. A lot of medium and small ones. Driven through the ghostly streets of Nisku lately?
    Or, we could concentrate on attracting a variety of corporations. Ones that aren't all tied to the same volatile commodity price. One reason Edmonton weathered the lower oil price better than Calgary did is because cowtown is much more dependent on oil companies, particularly head offices.

    An economy is like a diet. A varied and balanced one is much healthier than one based on just a few items.

    I'd hope that the government would take that into consideration but the UCP seems particularly focused on O&G.

  5. #505

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    Do as we say, not as we do. - Jason Kenney

    Funny how Muir says that cancelling the pipeline is
    economic advantage for the good ole USA.
    yet those same Americans are paying him. Are those Americans working against their own country?

    Actually, foreign funding flows to both sides of Alberta’s oil sands battle

    Last month, when Jason Kenney announced the creation of a $30-million war room to fight for Alberta’s oil industry, one of the people standing on stage with him, looking on approvingly, was Stewart Muir, executive director of Resource Works, a British Columbia group that was created to rally support for petroleum projects like the Trans Mountain pipeline that will move Alberta bitumen to the Pacific.

    ---

    Muir, who stood with Kenney and Krause when Kenney announced his war room, for instance, has taken $27,500 from Devon Energy, an Oklahoma company that until recently had a piece of the oil sands.


    The fact that he is working for American oil interests hasn’t stopped him from denouncing those who take money from American environmentalists:


    “At one level, this is the story of how American money was used to weaponize eco-radicals on Canada’s west coast, resulting in economic advantage for the good ole USA. Criminal that it’s still happening,” he tweeted on April 13.

    https://www.macleans.ca/news/canada/...Nj3D7B57rGLaMs

  6. #506

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    Quote Originally Posted by kkozoriz View Post
    Quote Originally Posted by Drumbones View Post
    So let’s make sure we have a job and income to do so. Scaring corporations away is not the answer. A society needs corporations, if they leave, we leave. I hate the thought of having to move away to find work. As corporations keep on shutting down or moving we move closer to a situation like the Atlantic provinces. Not necessarily large companies. A lot of medium and small ones. Driven through the ghostly streets of Nisku lately?
    Or, we could concentrate on attracting a variety of corporations. Ones that aren't all tied to the same volatile commodity price. One reason Edmonton weathered the lower oil price better than Calgary did is because cowtown is much more dependent on oil companies, particularly head offices.

    An economy is like a diet. A varied and balanced one is much healthier than one based on just a few items.

    I'd hope that the government would take that into consideration but the UCP seems particularly focused on O&G.
    Edmonton has steady-core-services-government-spending which uses debt when oil royalties dip. So it should perform better than Calgary when oil and gas prices fall. Calgary relies on fresh-development-capital and high energy margins, which attract fresh development capital. Maybe Calgary needs a larger share of government expenditures to diversify and stabilize its economy.

    I’m not sure how we possibly bring more value into Alberta than does Calgary. Moreover during high oil prices and oil production expansions Calgary thrives. It then figuratively falls from a greater height.

    As for attracting a variety of companies how do we do that? Subsidies? Lower taxes? Incentives? Deregulation? Targeted efforts?

    We need new value added export corporations in order to replace oil and gas exports. Domestic (Alberta) goods and services just shuffle the money whereas oil and gas brings in the money.
    Last edited by KC; 07-07-2019 at 05:12 PM.

  7. #507
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    Quote Originally Posted by kcantor View Post
    Quote Originally Posted by seamusmcduffs View Post
    ^examples of such businesses? Actually a source of a general trend would be better. One company leaving doesn't show the overall picture. If companies are leaving, that doesn't necessarily mean there's a net loss of business if new companies are coming in or being started.
    It's a bit of a stretch to say this is an example of the companies flocking to the states. You can see the general trend is down for foreign investment in Canada, but it also started before Trudeau was elected.

  8. #508
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    Quote Originally Posted by gwill211 View Post
    Quote Originally Posted by seamusmcduffs View Post
    ^examples of such businesses? Actually a source of a general trend would be better. One company leaving doesn't show the overall picture. If companies are leaving, that doesn't necessarily mean there's a net loss of business if new companies are coming in or being started.

    Almost every oil and gas company has left Alberta for greener pastures elsewhere.. this is a known fact. It continues to get worst.
    You mean when the global price of oil tanked, and made our expensive-to-produce oil not as economically feasible to produce? Sure, I guess if we can't blame the oil prices on Notley anymore, we can always blame Trudeau.

  9. #509

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    You can see longer term merchandise exports via the link.



    Merchandise Exports
    “PUBLISHED - Jul 5, 2019

    Alberta's international merchandise exports were $11.97 billion in May 2019, 17.4 % higher than the same period last year and an all-time monthly high. Canadian exports increased by 8.2% over the same period. In Alberta, all year-to-date export categories increased, except for basic and industrial chemical, plastic and rubber products (-6.4%). Exports of industrial machinery increased by 28.9% year-over-year, the most of any product category.”


    https://economicdashboard.alberta.ca/MerchandiseExports

  10. #510
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    "
    ‘Protest Papers’ reveal extent Canadian democracy is ‘captured’ by foreign oil companies, says former Alberta MLA"


    In 2014, the British Columbia Civil Liberties Association (BCCLA) filed a complaint with the CSIS watchdog, the Security Intelligence Review Committee, alleging it overstepped legal boundaries by spying on conservation and community groups opposed to the now-defunct Northern Gateway Pipeline in northern B.C.
    The heavily redacted documents showed CSIS staffers, whose names were blacked out, explaining how the agency shared “classified information” with petroleum companies at briefings in Ottawa.
    Despite Fortier ruling that there was no wrongdoing, the substance of the report is a problem for Taft. He said years of oil industry outreach seems to have penetrated Canada’s law enforcement agencies in order to advance its interests at the expense of Canada’s. “Canadians need to understand the oil industry is meeting and lobbying every agency of any interest right across Canada constantly,” he said. “They wine and dine, they give splashy presentations. This is an extraordinary, sophisticated political campaign that’s gone on for decades.”

    Last month Kevin Walby, an associate professor in the department of criminal justice at the University of Winnipeg, warned that information-sharing between police and oil companies could result in
    a breach of democratic rights
    for those seen as potential “eco-terrorists” by pipeline proponents.

  11. #511
    Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

  12. #512

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    We don't need no edumacashum!

    Or, from the movie Yellowbeard

    If there's one thing I've learned, it's learning things never taught me nuthin'. And books is the worst.

  13. #513

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    Quote Originally Posted by noodle View Post
    Now this is a better form of assistance than corporate income tax cuts which only benefit those companies making profits and not those struggling with higher costs and liquidity issues.

  14. #514

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    Yeah, it's not like schools need funding or anything.

  15. #515

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    Quote Originally Posted by kkozoriz View Post
    Yeah, it's not like schools need funding or anything.
    Other taxpayers will have to pick up the tab or the government can always borrow more. (An age old solution.) Education cuts will also likely help reduce the costs.

    Of course, instead of cutting Corp income taxes could raise corporate income taxes. Lower upstream costs help keep companies afloat and companies that don’t go bankrupt can potentially become profitable. To avoid paying corporate income taxes surviving companies can always spend more of their discretionary income to raise their expenses. (Basically reinvest 100% or face parting with a percentage as corporate income taxes.)

    Also companies that stay afloat and avoid bankruptcy can continue to employ people who can the continue to pay taxes and spend their income. (Though unemployment does help bring in injections of EI monies from Ottawa.)
    Last edited by KC; 11-07-2019 at 03:24 PM.

  16. #516

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    Socialism for corporations, rugged capitalism for schools.
    Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

  17. #517

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    Quote Originally Posted by noodle View Post
    Gotta pay back your corporate handlers.

    Give a million and get 23 back, what a deal...

    What next, a CRL for the oil & gas industry, you know the ones owned by foreign multinationals.

    CRL = Corporate Revenue Lobby
    Last edited by Edmonton PRT; 11-07-2019 at 04:07 PM.
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  18. #518

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    Quote Originally Posted by noodle View Post
    Socialism for corporations, rugged capitalism for schools.
    Yup. Private schools seem safe despite the demands for their demise.

    Or maybe this will kill off the way education funds follow the student and ensure that the public schools capture all the funding.

  19. #519

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    'Kamikaze' Alberta UCP leadership candidate fined $68,000 for irregular donations

    Former United Conservative Party leadership hopeful Jeff Callaway has been fined $68,000 for irregular campaign contributions during the 2017 race in Alberta.


    The fines include a $15,000 penalty for colluding with Calgary businessman Robyn Lore in order to "circumvent a contribution limit," according to details published Tuesday on the provincial election commissioner's website.


    They also include soliciting or accepting a $60,000 contribution "the contestant knew or ought to have known was from a prohibited person or entity," according to the election commissioner's site.

    https://www.cbc.ca/news/canada/calga...ines-1.5216446

  20. #520
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    I think most UCP people don’t care.
    "Talk minus action equals zero." - Joe Keithley, D. O. A.

  21. #521
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    Reminds me of the "bulk donation" Katz gave Redoford in 2011/12.
    Mom said I should not talk to cretins!

  22. #522

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    ^^^ There's actually been a correction. It's not $68,000.

    It's $70,000.

    Originally, the site listed $68,000 in fines, but an additional $2,000 fines was later added.
    (same link as above)
    Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

  23. #523
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    Kind of surprised that this hasn't been raised here: https://www.cbc.ca/news/canada/calga...tion-1.5215730

    Can't say I have high hopes that our provincial government is going to do anything useful to combat the opiate crisis. I'm sure that they will, however, open up the Nixon-era "How To Wage The War On Drugs" manual and see what regressive, idiotic policies they can dust off. Maybe mandatory minimums for drug possession? That'll do the trick!

  24. #524

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    Supervised injection sites are just a tool of Big Nalaxone!
    Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

  25. #525
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    Read the whole Rick Bell piece that the CBC article links to. It's absolutely staggering: https://calgarysun.com/opinion/colum...ddictions-boss

  26. #526

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    I'm never surprised at how regressive the UCP's policies are, nor how much their base eats it up, but yeeesh that is a truly terrible opinion column, even for the Calgary Sun.
    Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

  27. #527
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    ....wtf, so the minister of addictions thinks that safe injection sites are probably just a tool for BiG pHArmA to get more people on drugs? That's what I'm getting from that tweet.

    Great, we have a conspiracy theorist in charge of the opioid crisis, perfect timing.

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