Monday, October 14, 2013

Mulcair right on corporate taxes

Greedy businessmen said cut their taxes and they would invest the money to “create jobs” and boost the economy. Harper gladly obliged them.

What was the end result? Job prospects haven’t been this dismal since the Great Depression. Economic and productivity growth are also at historic post-war lows.

Not only that, corporations pocketed the savings. (Say it ain’t so!) Businesses are hoarding $800 billion of “dead money” — which is how Con Finance Minister Jim Flaherty described it.

What’s worse is that we’re borrowing $15 billion a year to pay out to these grifters!

We’re #1

According to KPMG, which writes a guide for international businesses, Canada has the lowest effective corporate tax rate among ALL major economies:

“Corporate income taxes are lowest in Canada (7.3 per cent effective corporate income tax rate), France (14.7 per cent), and China (14.8 per cent).
“At the other end of the scale, effective corporate income taxes exceed 30 per cent in Japan (31.5 per cent), Brazil (36.1 per cent), and Italy (37.6 per cent).”

Mulcair promises to end Harper’s failed corporate tax cuts.

Common sense from Mulcair

Mulcair promises to reverse these tax cuts, which is obviously the smart thing to do. When it comes to very costly government policy that fails to get results, one doesn’t continue to throw good money after bad.

Free market train wreck

Corrupt plutocrats have made a huge mess of the global economy with 30 years of self-serving free-market reforms. These trickle-up economics created towering levels of inequality and debt, hollowed out the middle class and culminated in a global economic meltdown.

When are we going to come to our senses and tell these “Masters of the Universe” to go to hell? Civilization won’t survive much more the likes of them…

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