Skip to main content

Home/ Economic Challenges Research/ Group items tagged NDP

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Noah Schafer

Election sealed corporate tax cuts; Canada needs more - The Globe and Mail - 0 views

www.theglobeandmail.com/...article2017147

Canada NDP USA Corprate tax

shared by Noah Schafer on 05 Jun 11 - No Cached
  • The election determined only that corporate tax rates won’t go up. It did not determine that they won’t go down – as, almost certainly, they will – through the next four years.
  • The average rate in 28 of the member countries of the OECD is 20 per cent.
  • In the campaign, the government asserted correctly that Canada’s corporate tax rate was the lowest in the G7. This, alas, wasn’t saying much. Four of the G7 countries have the four highest corporate tax rates in the world: U.S. (39.2 per cent); Japan (35.5 per cent); France (34.4 per cent); and Germany (30.2 per cent).
  • ...8 more annotations...
  • Canada’s rate (at this moment, 27 per cent).
  • As Canada trimmed, the world trimmed, too: 75 countries aggressively cut corporate tax rates in the past decade. China’s corporate tax rate is 20 per cent – discounted to 15 per cent for companies that invest in strategically important industries.
  • combined federal-provincial statutory tax rate of 25 per cent, won’t
  • The “Bowles-Simpson Plan,” proposed by President Barack Obama’s commission on fiscal reform, suggests a federal rate of 28 per cent. The Wyden-Gregg Plan, proposed by Democratic and Republican legislators, suggests 24 per cent. The China-OECD Plan, advanced by the non-partisan U.S. Tax Foundation, suggests 20 per cent
  • These rates are federal rates and don’t include corporate rates levied by the states: nominally, on average, 6.6 per cent; in fact, on average, 4.2 per cent. Thus a U.S. federal rate of 20 per cent (the China-OECD Plan) would produce a comprehensive “America rate” of 24.2 per cent
  • Canada’s goal assumed an “America rate” of 39.3 per cent: a competitive advantage for Canada of 14.3 percentage points.
  • when you add the federal rate and the average provincial rate (19 plus 12.5), you have a “Canada rate” of 31.5 per cent – the fourth-highest rate in the world: and twice as high as China’s most competitive rate.
  • The Conservative government took a lot of heat for incrementally lowering Canada’s corporate tax rate.
1 - 1 of 1
Showing 20▼ items per page