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Canada could get squashed by Trump's tax overhaul
CBC News ^ | 12/23/2017 | Aaron Wudrick

Posted on 12/23/2017 6:34:32 PM PST by simpson96

Prime Minister Pierre Trudeau once remarked that Canada's relationship with the United States was like sleeping next to an elephant: "No matter how friendly and even-tempered is the beast, one is affected by every twitch and grunt."

Well, forget twitches and grunts. With the biggest tax cut in decades being signed into law south of the border, the elephant is about to start doing somersaults in the bed – and if our own politicians don't take action, the Canadian economy could end up getting squashed.(snip)

Policy wonks south of the border will debate the pros and cons of the bill, which will see taxes go down for the vast majority of Americans. But from a Canadian standpoint, we should be focused on what it means for our country's tax competitiveness.

Previously, Canada could boast about lower business taxes: the Canadian average combined federal-provincial rate of 26.7 per cent, compared favourably to an American average combined federal-state rate of 39.1 per cent. That advantage is now history: with passage of the Tax Cuts and Jobs Act, the new average American rate is just 26 per cent.

Worse still, the Trudeau government is heading in the opposite direction on taxes generally: while it recently resurrected a promise to lower taxes for small business, the general rate is unchanged. It has promised a national carbon tax in 2018, scheduled a payroll tax hike beginning in 2019 to pay for higher Canada Pension Plan contributions, and even introduced an automatic tax escalator on alcohol.

While the government did cut income taxes last year, one study suggested that the average Canadian family was actually paying an additional $840 in taxes.

(Excerpt) Read more at cbc.ca ...


TOPICS: Business/Economy; Canada
KEYWORDS: canada; squashed; trumptaxcuts
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Lumberjack Song
Monty Python
I’m a lumberjack
And I’m OK
I sleep all night and I work all day
(He’s a lumberjack
And he’s OK
He sleeps all night and he works all day)
I cut down trees
I eat my lunch
I go to the lavatry’
On Wednesdays I go shopping
And have buttered scones for tea
(He cuts down trees
He eats his lunch
He goes to the lavatry’
On Wednesdays He goes shopping
And has buttered scones for tea
I cut down trees)
I’m a lumberjack
And I’m OK
I sleep all night and I work all day
I cut down trees
I skip and jump
I like to press wild flowers
I put on women’s’ clothing and hang around in bars
(He cuts down trees
He skips and jumps
He likes to press wild flowers
He puts on women’s’ clothing and hang around in bars?)
I’m a lumberjack
And I’m OK
I sleep all night and I work all day
I cut down trees
I wear high heels
Suspendies’ and a bra
I wish I’d been a girly
Just like my dear pa-pa
(He cuts down trees
He wears high heels?)
(He’s a lumberjack
And he’s ok
He sleeps all night and he works all day)


21 posted on 12/23/2017 6:50:20 PM PST by gov_bean_ counter (Free Republic has been reduced to a gathering place for the inane, banal, and obtuse.)
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To: simpson96

Won’t happen.
Canada will do fine.
Remember, their press is infected with the same stupidity drug what infects ours.


22 posted on 12/23/2017 6:51:53 PM PST by Da Coyote
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To: ClearCase_guy

“Most of the world seems heavily dependent on the idea that America will happily go on losing, transferring our wealth to them forever.”

Which means we all were right when we said we were being fleeced.


23 posted on 12/23/2017 6:52:37 PM PST by CodeToad (CWII is coming. Arm Up! They Are!)
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To: Billthedrill

“It’s not gonna be that easy. How many missionaries do you know who speak Canadian?”

ehh.

https://www.buzzfeed.com/cylapanin/real-canadian-slang-and-what-they-mean?utm_term=.krqV267yym#.rpNqknJ11g


24 posted on 12/23/2017 6:52:38 PM PST by IWONDR
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To: simpson96

Boo hoo.

25 posted on 12/23/2017 6:53:27 PM PST by Tolerance Sucks Rocks (Women prefer men with money and muscles. DUH!)
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To: bagster

Lumberjacks? They’re ok I hear.


26 posted on 12/23/2017 6:53:40 PM PST by xp38
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To: simpson96

27 posted on 12/23/2017 6:53:41 PM PST by bgill (CDC site, "We don't know how people are infected with Ebola.")
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To: LostInBayport

CANADIAN MINISTER OF MOVIES: This is not aboot diplomacy, this is aboot dignity...
AMERICAN DELEGATION: [laughing]
CANADIAN MINISTER OF MOVIES: ...This is aboot respect. This is aboot realising that humans...
AMERICAN DELEGATION: [laughing]
CANADIAN AMBASSADOR: You guys are d___s!


28 posted on 12/23/2017 6:53:41 PM PST by dfwgator
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To: Billthedrill

All the missionaries have to know is “aboat”, “sorey”, “oh, yah” and “eh?”


29 posted on 12/23/2017 6:54:08 PM PST by Tolerance Sucks Rocks (Women prefer men with money and muscles. DUH!)
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To: dfwgator

Haha.


30 posted on 12/23/2017 6:54:45 PM PST by bagster (Even bad men love their mamas.)
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To: simpson96

Canada could, you know, implement pro growth policies and rope in socialism a bit?

I know, I know ... fantasy!


31 posted on 12/23/2017 6:55:03 PM PST by Rurudyne (Standup Philosopher)
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To: simpson96

It has promised a national carbon tax in 2018,

...

How lovely.

I’m so glad Trump won.


32 posted on 12/23/2017 6:55:32 PM PST by Moonman62 (Make America Great Again!)
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To: Billthedrill

“It’s not gonna be that easy. How many missionaries do you know who speak Canadian?

You forgot the “eh?”


33 posted on 12/23/2017 6:55:44 PM PST by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: Tolerance Sucks Rocks
Don't forget,

I'm going to my mum's hoose and drink some beers and have some smokes, eh.

34 posted on 12/23/2017 6:56:19 PM PST by bagster (Even bad men love their mamas.)
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To: backwoods-engineer

“Can we just annex them, send in missionaries...”

Probably not even necessary in the Prairie Provinces, they’re ready tonight...that is, if it doesn’t interfere with hockey.


35 posted on 12/23/2017 6:58:37 PM PST by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: Tolerance Sucks Rocks
All the missionaries have to know is “aboat”, “sorey”, “oh, yah” and “eh?”

Hey hoser, take off, eh? For the Great White North. It's a beauty way to go, eh?

36 posted on 12/23/2017 7:00:18 PM PST by ROCKLOBSTER (RATs, RINOs...same thing)
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To: simpson96

The globalists hate Trump. Another positive sign.


37 posted on 12/23/2017 7:02:04 PM PST by Spok ("What're you going to believe-me or your own eyes?" -Marx (Groucho))
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To: backwoods-engineer

There already are gun stores everywhere up here. We should just make sure everyone has mandatory ownership.


38 posted on 12/23/2017 7:03:57 PM PST by Catholic Canadian
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To: Billthedrill

“It’s not gonna be that easy. How many missionaries do you know who speak Canadian?”

Not many, Hoser! Eh?


39 posted on 12/23/2017 7:06:11 PM PST by Panzerlied ("We shall never surrender!")
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To: simpson96

All that the idiot socialist Trudeau liberal government can do is follow Trump’s lead by cutting corporate taxes and middle class income tax?

Don’t hold your breath, Trudeau would rather ruin Canada itself than traduce his own socialist values.

IN short, Trudeau is an idiot.

Canadians have tired of him.


40 posted on 12/23/2017 7:06:15 PM PST by Candor7 (Obama Fascism) http://www.americanthinker.com/articles/2009/05/barack_obama_the_quintessentia_1.html)
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