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 ...
Hmm, I always figured with a Freepname like dfwgator, that you lived n Florida or Louisiana.
We are the Gord. Sorey, eh, but you’re aboot to be assimilated, hoser. It mainly means you’ll watch more hockey and your kids will get marks instead of grades.
Socialist women and children hit hardest.....
Gee, this makes me think about a certain 2016 security conference in Halifax. The one that John McCain, Christopher Steele, and Tim Kaine all attended...
Here is a YouTube video of Vice President Joe Biden celebrating the fact that the Democrat Party and the globalists are engineering “unrelenting unstoppable” migration that makes white Americans a minority in their own country. This is how genocide starts.
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