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the silent platform





Joined: 09 Sep 2006
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Location: Winnipeg

PostPosted: Thu Sep 28, 2006 8:38 am    Post subject: corporate tax cuts Reply with quote

i was just wondering what you all thoguht of the corporate tax cuts included in the recent budget... they seemed to be under-reported.

Item 1: Eliminate Capital Tax by Jan.1st 2006.
Item 2: Eliminate Corporate Surtax by Jan.1st 2008
Item 3: Cutting General Corporate Tax to 19% by 2010

from what i have heard (someone please confirm), all corporate taxation in canada equates to a mere 8% of the yearly operating budget, whereby income tax makes up 59% of that same operating budget. taking that into account i would think we should be seeing more income tax cuts to the middle class than corporate cuts.

discuss...
biggie





Joined: 06 Sep 2006
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Location: Ottawa, Ontario

PostPosted: Thu Sep 28, 2006 9:42 am    Post subject: Reply with quote

Corporate tax cuts are a great thing - they encourage foreign investment, allow canadian corporations to grow better, and increase our overall competitiveness on the global market(something recent studies have shown we're falling back in).

When we give corporations tax breaks - we all win.

Wouldn't mind seeing some more income tax cuts though...

I'd also like to see small biz get another cut as well...
kwlafayette





Joined: 03 Sep 2006
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Location: Saskatoon Saskatchewan

PostPosted: Thu Sep 28, 2006 10:50 am    Post subject: Reply with quote

Would be nice. It would be great if business actually had to debate whether it was more advantageous to do business in Canada, or China.
hatrock





Joined: 22 Sep 2006
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PostPosted: Thu Sep 28, 2006 12:42 pm    Post subject: Reply with quote

Corporate tax cuts also allow good companies to distribute a profit share to their employees. This is what my company does. This extra income then of course gets taxed.

I'm hoping that as more of this former corporate tax revenue streams through to income tax, income tax cuts would be next.
biggie





Joined: 06 Sep 2006
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PostPosted: Thu Sep 28, 2006 6:31 pm    Post subject: Reply with quote

agreed -

wacko jacko and his cronies don't seem to understand how helpful big business for the economy...

good thing they only have 20 something % of support ;)

thats about 20% too much, but 20% i'd rather they have than the liberals..
Craig
Site Admin




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PostPosted: Thu Sep 28, 2006 7:56 pm    Post subject: Reply with quote

You don't have to look any further than Ireland to appreciate the positive effects of business tax cuts.
kwlafayette





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Location: Saskatoon Saskatchewan

PostPosted: Fri Sep 29, 2006 9:27 am    Post subject: Reply with quote

Yeah, Ireland went from an economic backwater to one of the more successful countries in Europe didn't it? As I recall, Intell has a chip fab there, and they were doing some of Apple's manufacturing as well.
biggie





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PostPosted: Fri Sep 29, 2006 10:03 am    Post subject: Reply with quote

kwlafayette wrote:
and they were doing some of Apple's manufacturing as well.


SHHHHHH... the left will be all over that!!
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