Saturday, May 24, 2014

Trudeau and Wynne: big on corporate tax cuts

Justin Trudeau has thrown his support behind Kathleen Wynne in the 2014 Ontario election. One thing both have in common: a love for corporate tax cuts.

Unlike Michael Ignatieff, Trudeau fully supports Harper’s $14 billion a year in corporate tax cuts.

Unlike Andrea Horwath, Wynne fully supports Dalton McGuinty’s $2.4-billion a year in corporate tax cuts.

(Who knows, if Wynne wins her coveted majority, she might cut them another $1-billion a year as McGuinty planned before losing his majority.)

Despite Liberal attempts to smear Andrea as “right-wing”, the fact is she’s the only leader who vows to cancel the Liberal corporate tax cuts.

Who benefits?

The idea that corporate tax cuts “create jobs” has been thoroughly debunked. In fact, corporate taxes are so low in Canada, we have the lowest corporate tax rate of all major economies according to KPMG.

Since they don’t create jobs or benefit society in any way, shape or form, why are right-leaning Liberals and conservatives so hot and heavy for this corporate welfare?

One word: portfolio. If you possess a lot of assets in stocks, corporate tax cuts will increase profits, raise share value and beef up your portfolio.

Conclusion

If you’re an average hardworking Canadian, you’ll just have to pray you’ll win the lottery so you can take advantage of these tax cuts for the wealthy.

If you are not so fortunate, you take comfort, that in the service of your country, you are paying a bigger share of taxes from an exploding income tax burden.

Now what was Justin Trudeau saying about there being two types of people: the middle class and those who live off their assets?

1 comment:

  1. You obviously have no clue - please refer to Fraser Institute on value of tax cuts in creating jobs !

    ReplyDelete