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The
Blogging Party of Canada
Policy
on
Fiscal
Structure and
Taxes
Federal
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Freezing EI premium
rates at current levels, a measure that will especially help small businesses,
which employ more than half of all Canadians.
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Canceling all tax
treaties with tax havens like Barbados. Canadian corporations should
not be permitted to establish shell companies in tax havens and then bring profits
home tax-free like Paul Martin did with his Canada Steamship Lines.
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Implementing annual
balanced budgets
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– exempting years of
extreme revenue shortfalls and disasters and acts of God
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– and reducing the
debt-to-GDP ratio by maximizing the benefits of a growing economy
and strong borrowing and debt management measures.
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Allowing a debate over
what should be done with any unforeseen surplus instead of retroactively
applying all of it against the national debt.
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Encouraging the Bank of
Canada to promote a lower interest rate, which results in amore stable
economy, a lower dollar and a better environment for key export
industries and tourism
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Bringing some of
Canada’s national debt under the control of the Bank of Canada, as it
used to be, and paying the interest to ourselves as opposed to chartered
banks.
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Corporate
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Reversing corporate tax
reductions, recognizing that Canadian corporate taxes are now well
below US corporate tax levels.
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Imposing hefty fines for
polluters that match the clean-up costs (the polluter-pay principle).
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Ending
the practice of letting corporations deduct fines for environmental infractions or
unsafe workplaces from their taxes.
Closing corporate and very high income tax loopholes like the one
that let a prominent Canadian family move $2 billion out of Canada through
trust accounts and never pay a cent of income tax on the transaction.
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Increasing corporate
taxes slightly, but creating a tax benefit for all money spent on
charitable organizations, and environmental training and responsibility.
For example, if a company shows it has taken steps to improve its environmental
responsibility by implementing a training program in proper handling of
dangerous chemicals, then any money spent on that should be included for a
sizeable tax exemption.
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Personal
| Implementing an inheritance
tax on inheritances of more than $1 million, exempting in-family
transfers of small businesses and family farms.
small businesses. |
| Not lowering, but
abolishing personal income tax, instead implementing a 20% GST on non essential
items. Also, adding to the list of essential items things such as cars under
$50,000, clothes under $100 per item, feminine hygiene products, educational
supplies, fossil fuels (excluding premium grade gasoline), household
appliances |
| Making personal private
capitol gains from the sale of property tax exempt. Corporate capital gains
will still be taxable. |
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