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Mac





Joined: 02 Sep 2006
Posts: 5500
Reputation: 104
votes: 35
Location: John Baird's riding...

PostPosted: Fri Jan 18, 2008 1:41 am    Post subject: CTF urges Ottawa to reduce tax brackets Reply with quote

Simply, flatten, cut out the red tape... it all sounds too good to believe... Let's hope Ottawa is listening.

-Mac

Federation urges Ottawa to reduce tax brackets

Updated Thu. Jan. 17 2008 1:14 PM ET

The Canadian Press
OTTAWA -- The Canadian Taxpayers Federation is calling on Ottawa to lower personal income taxes and cut the number of tax brackets in half.

In a study released Thursday morning, the federation recommends the federal government move to two income tax rates of 15 per cent and 25 per cent by 2012, down from the current four brackets.

The taxpayers federation says doing so would remove about 1.4 million low-income Canadians from the tax rolls since their income wouldn't be high enough to tax.

The study also recommends raising the basic personal and spousal exemptions each to $15,000 by 2012 and increasing the child credit to $2,200 by 2012.

It suggests keeping only a handful of deductions, such as registered retirement savings plans and allowances for spouses and children.

The taxpayers federation says its plan will result in nearly $70 billion in personal income tax relief over the next four years.
Cool Blue





Joined: 21 Sep 2006
Posts: 3130
Reputation: 114.9
votes: 10
Location: Ontario

PostPosted: Fri Jan 18, 2008 5:59 am    Post subject: Reply with quote

Sounds like the old CA proposal of a "flatter tax" during the 2000 election.
Mac





Joined: 02 Sep 2006
Posts: 5500
Reputation: 104
votes: 35
Location: John Baird's riding...

PostPosted: Fri Jan 18, 2008 4:28 pm    Post subject: Reply with quote

That's one of the reasons why I posted it... That and the fact that CIV didn't described the CTF as being a "right-wing think tank" or similar.

-Mac
FF_Canuck





Joined: 02 Sep 2006
Posts: 3360
Reputation: 73.4
votes: 17
Location: Southern Alberta

PostPosted: Fri Jan 18, 2008 9:36 pm    Post subject: Reply with quote

This is proposal is far to reasonable to get any where, I'm afraid. While I have no doubt that the increased prdocuctivity would pay for itself, we'd still need big spending cuts, and you know how that would go over...
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CTF urges Ottawa to reduce tax brackets

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