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 ...
Servo:
(sadly) Oh, I wish I was blowing up Prince Edward Island,
And going on to bomb Ontario, heh heh!
(harshly)The destruction of Canada and all of its culture,
Is by far my fav-o-rite scenario!
In order of their bitching about how Trump’s tax cut will adversely affect their countries: #1 The Krauts, #2 The Aussies, and now #3 Canuckistan. If you ever wanted objective evidence of how America has been carrying the world, you have to look no further than “Our Allies,” The UN, and the “Open Borders Crowd!”
I mean, the people buy their milk in bags.
Plastic bags.
That LEAK.
I am not sure our cultures are compatible.
Somehow failing to care. America first - not like we don’t have tons of problems we need to focus on first before caring about anyone else.
I love a carbon tax. Now just explain what the tax is on? Carbon is just a big piece of black rock. It just sit there. How does it pollute?
Well gosh
Ross Perot’s Giant Sucking Sound from south of the border.
I like my milk in bags.
Fun bags!!!
Right.
Wait’ll the Canadians see the tailspin their little boy “leader” is going to send them in soon enough.
All the feeeeeeelings in the world can’t change reality.
No thanks. We have enough liberal wankers heading here to escape the consequences of their own lefty choices. It's better fit for Minnesota.
I think Idaho should annex them.
“No thanks. We have enough liberal wankers heading here to escape the consequences of their own lefty choices. It’s better fit for Minnesota.”
Ok but Idaho annexing Canada is a much funnier shape.
cheer up Canada...you always have curling
And we’ll always have The Stanley Cup!
Canada's biggest export: Hockey Players 😀
Maybe Obama does. After all, he knows some people speak Austrian.
Some Canadian expatriates could have been treated better in estate cases and other cases. It’s also rather base and embarrassing for political people up there to complain about some of their cleaner politicians being “too American.” Canada is becoming a little mobbed up.
Obviously, Canada should abolish its corporate tax and, recognizing the stupidity of business taxation, exempt business profits from taxation until paid out to individuals.
Then the US should do the same and, at the individual level, reestablish the Reagan rates. Thereby restoring Canada to its proper place in the order of nations.
Well, it is Canaduh...
the elephant is about to do something in the bed
OK, goodnight
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