,
8 tweets,
4 min read
Read on Twitter
One more obvious thing about the Fraser Institute tax "study": What is a "profit tax"? Except for this chart, it is never defined or mentioned again in the report itself, so we don't know what it is. It isn't in the Income Tax Act. More fakery. #cndpoli
Is it a capital gains tax (gain on certain types of investments)? You'd think they'd use that term if it was. Even so, a family would have to have a capital gain of about $15-20,000 a year to have a capital gain tax liability of $4,726 a year. #cdnpoli
Or is it the tax on corporate "profits", which is exactly what the Fraser Institute deceptively rolls into their calculation of Canadians' "tax burden", even though their chart and headlines say clearly (and dishonestly) that this is "Tax bill of the average Canadian family"...
Finally, it is charming to see the Fraser Institute's defenders struggling to work the math backwards to justify their numbers. Stop it. It won't work, because the numbers are cooked and these are not "family" tax numbers - the fine print says so. #cdnpoli
When caught the Fraser Institute justified burying all the taxes and regulatory fees paid by corporations into the "Tax bill of the average Canadian family" saying that those taxes are passed onto the consumer. That's some gold-plated Austrian / Calgary School economic BS.
And here is where they say they've included all corporate taxes into your "personal" tax calculation. The reason? Another Fraser Institute paper that no one takes seriously. (Clemens & Veldhuis (2003): Who pays business taxes? A different view. Fraser Forum). #cdnpoli
So all the corporate taxes paid by Loblaws, Bombardier, Bell, Rogers, Power Corporation, Imperial Oil, etc., are actually included by the Fraser Institute when they calculate your family's taxes. This makes the numbers swell & angries up the voter to demand lower taxes. #cdnpoli
...including justifying a lower corporate tax rate (see how that works?) and conservative cutting back of services, which is the whole point of the Fraser Institute - deceiving Canadians about their tax burden to drive a popular demand for cuts that benefit companies.
