Trudeau proposes increasing income tax rate to 93%

[androhn]

One day Trudeau will need to see a Doctor for health reasons. We can only hope this Dr prescribes him some common sense.

Liberals: Justin, there is a terrible Dr shortage in B.C

Trudumb: Duh, lets raise taxes on doctors, that will fix it. I need to generate millions to give to terrorists!

[Gone_Fishin]

Vancouver doctor is backing Ottawa's proposed tax changes for small business owners, calling on the need for a more equitable tax system.

Dr. Robert Woollard, a family practitioner and professor in UBC's Faculty of Medicine, is one of 280 doctors who have signed a petition that says the tax revenue gained in closing off loopholes for incorporated practices would pour money back into the health-care system and fund social programs.


http://www.cbc.ca/beta/news/canada/brit ... -1.4295433

He's a tenured professor at UBC, that is, he draws a teaching salary. This punitive, regressive tax policy won't affect his take home pay one red cent.

[maryjane48]

so your going to say because he has other work he doesnt know how doctors run their company ? lol get real

[maryjane48]

jousting match erupted Monday between Prime Minister Justin Trudeau and Conservative Leader Andrew Scheer as the Liberal government's plan to end "unfair" tax advantages for some wealthy small business owners dominated the return of Parliament.

As they exchanged blows, the two leaders gave what is likely a preview of the themes that will underlie their respective election campaigns in 2019 as each tries to position himself as the champion of the middle class.

Scheer kicked off the first question period of the fall sitting by accusing Trudeau of hiking taxes on hard-working, middle-class small business owners, including farmers, mechanics, fishers and, particularly, female entrepreneurs who, he asserted, won't be able to afford to take maternity leave.

"As Conservatives, we believe in raising people up, not tearing people down," Scheer said. "Conservatives wake up every day trying to think of new ways to lower taxes. Liberals wake up every day trying to find new ways to raise taxes."

The new Tory leader, who took over the post in May, vowed that the "pain will only be temporary," promising that Conservatives would fight the proposed tax changes "every step of the way" and "save local businesses."

Trudeau countered by accusing Scheer of siding with the wealthiest Canadians at the expense of their truly middle-class counterparts.

"(Conservatives) have been going around the country telling every doctor they meet that they stand with them, that they will defend their right to pay lower taxes than the nurses who work alongside them," the prime minister said.

"We don't think that's fair."

[Rwede]

Are you in favour of the federal Liberals' tax plan?

Total Votes: 3142
Yes 26.23%
No 64.19%
Undecided 9.58%


Bad news for Justin Taxalot.

[Rwede]

Vancouver doctor is backing Ottawa's proposed tax changes for small business owners, calling on the need for a more equitable tax system.

Dr. Robert Woollard, a family practitioner and professor in UBC's Faculty of Medicine, is one of 280 doctors who have signed a petition that says the tax revenue gained in closing off loopholes for incorporated practices would pour money back into the health-care system and fund social programs.


http://www.cbc.ca/beta/news/canada/brit ... -1.4295433

He's a tenured professor at UBC, that is, he draws a teaching salary. This punitive, regressive tax policy won't affect his take home pay one red cent.

Haha, of course, these tax slaps don't affect this granola-munching "doctor," so he reverts to his far left "tax everyone except me" stance just like a typical left wing professor.

He may have a PhD, but he knows squat about taxation and the devastating effect this will have on the economy, especially on low income employees who will be losing their jobs.

The professor is looking after his own interests - he's tenured, so he has no fear of losing his job or the lucrative salary that comes with it. He doesn't care about all the people working for small businesses that will bear the brunt of this horrible taxation shift from Justin's rich buddies to the middle and lower income classes.

[Keith Duhaime]

so your going to say because he has other work he doesnt know how doctors run their company ? lol get real

1. Even if he does have a company on the side and he's an employee, his status as employee with everything from access to EI to a pension plan to limits on RRSP contributions severely curtails his tax options relative to a doctor running solely their own practice. So don't start comparing apples to oranges.

2. The estimates I've seen are that these changes would bring in about an extra $16 billion/year. But in the meantime, since we are talking about physicians, governments can't get it together to properly allocate the ~$50 billion/year in healthcare costs attributable to lifestyle choices back to those individuals that actuarially incur them and now they expect the self employed to throw another $16 billion/year on the pyre?

Sorry, but the governments of this country need to demonstrate the can be responsible and fair first before they go soaking the person who put their blood, sweat, and tears into their own enterprise. And even if it si not their own enterprise and for example are the CEO of a major corporation with a $500k/year paycheque, is it fair given the personal efforts they might have put in to get that job for the taxman to grab more of their paycheque than that of the employee earning 1/10th their salary? Define and rationalize 'fair'? - And remember, this is Canada, a land birth lottery winners. There are probably in the neighbourhood of 50 plus other individuals on this planet born in circumstances by no fault of their own that make them envious of the opportunities Canadians are born with. Either answer that, or admit you're just another Trumpster, just subsititute 'Canadians' for 'Americans' in 'Americans First'. It's philosophically the same thing.

[Gilchy]

1. Even if he does have a company on the side and he's an employee, his status as employee with everything from access to EI to a pension plan to limits on RRSP contributions severely curtails his tax options relative to a doctor running solely their own practice. So don't start comparing apples to oranges.

2. The estimates I've seen are that these changes would bring in about an extra $16 billion/year. But in the meantime, since we are talking about physicians, governments can't get it together to properly allocate the ~$50 billion/year in healthcare costs attributable to lifestyle choices back to those individuals that actuarially incur them and now they expect the self employed to throw another $16 billion/year on the pyre?

Sorry, but the governments of this country need to demonstrate the can be responsible and fair first before they go soaking the person who put their blood, sweat, and tears into their own enterprise. And even if it si not their own enterprise and for example are the CEO of a major corporation with a $500k/year paycheque, is it fair given the personal efforts they might have put in to get that job for the taxman to grab more of their paycheque than that of the employee earning 1/10th their salary? Define and rationalize 'fair'? - And remember, this is Canada, a land birth lottery winners. There are probably in the neighbourhood of 50 plus other individuals on this planet born in circumstances by no fault of their own that make them envious of the opportunities Canadians are born with. Either answer that, or admit you're just another Trumpster, just subsititute 'Canadians' for 'Americans' in 'Americans First'. It's philosophically the same thing.

One small correction: the changes are estimated to bring only $250 million a year, not $16 billion.

Over and above that, Trudeau keeps making references to people making "250,000 per year paying less in taxes than someone making $50,000 per year", which is impossible and untrue. Even if you don't take a penny out of a company, the company would pay roughly $37,000 in tax, and then more based on any income or dividends drawn. The $50,000 wage would pay $10,600 in BC, or $26,400 LESS than the business owner, before the business owner draws any personal income.

[Keith Duhaime]

One small correction: the changes are estimated to bring only $250 million a year, not $16 billion.

Thanks! Maybe the $16 billion was for all the tax reforms Trudeau et al. eventually promise. My argument still stands though. Manage what you got first and fairly allocate those unnecessary healthcare costs and there will be more than enough in already to cover government spending, make real investments in the future (as opposed to intergenerational expense transfer aka debt for our kids to pay off) and even pay down some of that debt.

[Rwede]

The Liberals brought in a tax hike that their election platform forecast would raise $2.8 billion in new revenue.

As the new financial report revealed, it actually reduced income tax revenue by more than $1 billion.

The deficit number was 23 per cent lower than predicted last March — but 80 per cent higher than the Liberals said it would be in their platform.

In that document, they said the ratio of debt to GDP would fall every year until it hit 27 per cent in 2019-20 — the year in which, they said, the budget would be balanced.

In fact, debt-to-GDP levels actually went up to 31.2 per cent last year, and at Tuesday’s press conference Trudeau refused to commit to a timeline on balancing the budget.

While there was evidence of economic growth in the 2016-17 numbers, the real reason the deficit fell is that program expenses were $3.7 billion lower than predicted in the budget.

This might normally be a cause for celebration, but in this case it was because infrastructure payments were lower than expected: the government couldn’t get the money out the door quickly enough.

That, and a 10 per cent reduction in defence spending, put a gloss on a fiscal year in which revenues were down and spending up sharply.

Liberal tax plan A — hiking the top rate — has not worked, and they are now relying on plan B — tightening the rules around private corporations — to bolster income tax receipts. It probably won’t work either.

But the Liberals need that money, which explains this bizarre transformation.

The Great Unifier is now promoting division by demonizing the wealthy and those working hard to join them.


http://nationalpost.com/opinion/john-iv ... oesnt-work

[Gone_Fishin]

Trudeau hypocrisy wakens a dead horse for more flogging

FIRST POSTED: TUESDAY, SEPTEMBER 19, 2017 01:35 PM EDT | UPDATED: TUESDAY, SEPTEMBER 19, 2017 02:19 PM EDT


If Tory leader Andrew Scheer was beginning to think he was flogging a dead horse when it comes to attacking Justin Trudeau’s plans to close tax loopholes for those “wealthy” tax-cheaters in small business, the pony just neighed.

It’s not quite ready for the glue factory

Hypocrisy can be a real leveler, of course, especially when it comes in the form of a gift horse.

Why, for example, would our prime minister, a trust-fund baby from the get-go, have three registered businesses — the one for his speaking engagements now apparently defunct — if it were not for the tax advantages that such private corporations offer?

It begs an answer.

Did he incorporate to limit his liability for business risk? Was it to save tax or defer paying tax to a later date because the small-business corporate tax rate for the first half-million earned is around 13%, as compared to a top personal tax rate of about 44%?

Was it because private corporations don’t have withholding taxes, CPP or EI deducted by companies that hire its services?

These are all questions that Scheer should put to Justin Trudeau the next time he deems to show up for Question Period.

snip


Surely the prime minister had reasons to incorporate three distinct businesses, otherwise he would not have done it.

Or are we to take him as a fool prone to needlessly flushing money down the toilet?

One Toronto law firm calling itself “Ontario’s No. 1 Incorporation Services” offers “fast and reliable all-inclusive pricing” of $599, plus HST, to incorporate a business federally, and $699, plus HST, to incorporate strictly as an Ontario small business.

So, there is a price to pay. Maybe not a lot, but a price.

What, then, are Justin Trudeau’s reasons? Certainly, members of the opposition, as well as various MPs in Trudeau’s own caucus, would like to know what possessed him to incorporate, not once but three times.

It is not as if the Trudeau Liberals have not heard dissent over their proposed tax changes to small business.

“Every MP is hearing loud and clear across the country that this is what people are literally freaking out about,” Tory House leader Candice Bergen told the HuffPost. “This is a serious blow to local businesses, and the fact that Trudeau is doubling down, and being incredibly tone-deaf and stubborn on this, is only making it worse.

“People are really, really scared.”

It is time, therefore, to put the question to Justin Trudeau.

The horse he rode in on could use a little more flogging.

http://www.torontosun.com/2017/09/19/tr ... e-flogging

[Dizzy1]

Become a politician - the biggest tax loophole of them all

[blueliner]

This is what happens when you put folks who do not understand economics or fiscal responsibility in power.

No kidding dear Justin was born with a golden spoon in his mouth .

[Gone_Fishin]

BNN's Daily Chase: Billionaire said to exit Canada over Morneau tax plan


At least one Canadian billionaire has apparently decided to pack up and leave the country because of Bill Morneau’s plan to tighten up tax rules. Business Council of Canada CEO John Manley – a former Liberal finance minister and deputy prime minister – told the Canadian Press that a successful business leader informed him he left the country with “billions of dollars” as a result of the government’s controversial tax plan. And Manley is warning more could head for the exits. "You won't know about it because they're not going to buy ads or report it — they'll just go," he told CP. Today we’ll dive deeper into the threat of capital and talent fleeing the country.

[Rwede]

Duh. Exactly what I predicted would happen.

What a bunch of idiots Trudeau and his gang of morons are.


BUSINESS
Big Money Leaving Canada Over Tax Changes, John Manley Says

Former Liberal finance minister says he's worried about the impact of the new rules.

09/21/2017 15:08 EDT | Updated 15 hours ago
Andy Blatchford Canadian Press


OTTAWA — A big Canadian player has quietly picked up his chips and is heading for the exit amid the tumult over the Trudeau government's controversial tax proposals.

A business owner has informed John Manley, the head of an organization representing Canada's largest corporations, that he has moved billions of dollars outside the country since the Liberals formally proposed their tax changes in mid-July.

The government's proposals to eliminate several tax incentives have awakened a broad array of vocal opponents — from the small business community, to farmers, to tax planners, to professionals like doctors and lawyers. Some backbench Liberal MPs have also publicly expressed their concerns.

In the background, the Liberals' proposed tax reforms are also seen as a threat by a much-smaller, more-silent group of Canadians: wealthy leaders of big business.

Manley, a former Liberal finance minister in the Chretien government, said the elements of the government's plan to tighten rules on passive investment portfolios and the transfer of family businesses have created worries for some members of his organization, the Business Council of Canada.

The financial concerns have been compounded by the government's accompanying messages that Manley believes have "vilified'' higher-income Canadians.

Many of his members, he added, have been taken aback by rhetoric that they see as pitting the middle class against the wealthy.

"I don't get it at all — I thought that one of the successes of Prime Minister (Justin) Trudeau was that he was the unifier, he was bringing people together,'' said Manley, who noted the broader economy would eventually feel the sting of losing too many big job creators.

http://www.huffingtonpost.ca/2017/09/21 ... _23218305/