Thread by @timethief

"Make Canada Work for People Who've Done the Work" @PierrePoilievre who voted against #CERB shares a press release amending the budget that reflects zero compassion for low income earners and the #disabled

A re-elected Liberal government will:
Continue to ensure that secondary earners—mostly women—can exclude up to $14,000 of their working income when income-testing the #CanadaWorkersBenefit, so that families can receive up to $2,400.
canada.ca/en/revenue-age…

1/2 You can read abut the Liberal Party Policies for disabled people at liberal.ca/our-platform/d… #CanadaDisabilityBenefitAct was unanimously adopted Febeuary 2, 2023 as a federal income supplement for working-age persons with disabilities.

2/2 With the introduction of CPP enhancement in 2019 the monthly maximum disability amount increases each month. The monthly amount in January is $1,538.67 and increases to $1,546.05 in December. N.B. The benefit amounts are reviewed each January to reflect the cost of living.

The following summary provides an overview of Bill C-22, the #CanadaDisabilityBenefit Act. This summary is not a legal document and is not intended for use in interpreting the Bill.

So @PierrePoilievre did not address disabled people in his press release statement to amend the budget because the Liberals Bill C-22 is in effect. Disabled people expecting any additional assistance from the Conservatives are out of luck.

Let's unpack @PierrePoilievre's vague "powerful paychecks with lower taxes" in response to Liberal policy.
A re-elected Liberal government will:
Raise #corporateincometaxes on the largest, most profitable banks and insurance companies who earn more than $1 billion per year and ⬇️

introduce a temporary #CanadaRecoveryDividend that these companies would pay in recognition of the fact they have recovered faster and stronger than many other industries.

Create a #minimumtaxrule so that everyone who earns enough to qualify for the top bracket ⬇️

pays at least 15 % each year (the tax rate paid by people earning less than $49,000), removing their ability to artificially pay no tax through excessive use of deductions and credits.
Note: A tax on luxury cars, boats, and planes came into force on September 1, 2022. ⬇️

As per sections 9 and 34 of the #SelectLuxuryItemsTaxAct, subject vehicles valued over $100,000 will be taxed the lesser of: 1) 10% of the taxable amount of the vehicle, and 2) 20% of the amount above the price threshold. ⬇️

Significantly increase the resources of the Canada Revenue Agency to combat #aggressivetaxplanning and #taxavoidance that allows the wealthiest to avoid paying the taxes they owe.
This will increase CRA’s resources by up to $1 billion per year to close Canada’s tax gap. ⬇️

Modernize the general anti-avoidance rule regime in order to focus on economic substance and restrict the ability of federally regulated entities, including financial institutions such as banks and insurance companies, to use tiered structures as a form of corporate ⬇️

corporate tax planning that flows Canadian-derived profit through entities in low-tax jurisdictions in order to reduce taxes back in Canada. (offshore accounts). Work with our international partners to implement a #globalminimumtax so that the biggest companies in the world ⬇️

are not able to escape the taxes they owe here in Canada.

Eliminate #flowthroughshares for oil, gas, and coal projects to help promote clean growth and Canada’s transition to a net-zero economy. ⬇️

Implement a #nationalantiflippingtax and move forward with Canada’s first ever national tax on non-resident, non-Canadians on vacant land and residential property.⬇️

Move forward with a #nationaltaxonvapingproducts and require tobacco manufacturers to pay for the cost of federal public health investments in tobacco control.⬇️

Liberal Party of Canada policies are very specific unlike @PierrePoilievre 's vague "powerful paychecks with lower taxes". And, frankly, I have no idea what that means.

Now let's unpack @PierrePoilievre's 2 a word salad that rivals the worst bafflefab (incomprehensible or pretentious language, especially bureaucratic jargon) ever.

Let's start with Poilievre's "lower prices" and the fact that the PM does not control cost of living increases (fuel oil, groceries, housing, mortgage rates, interest rates).

https://twitter.com/timethief/status/1627099536882794497

Let's move onto to deal with Poilievre's 2. "inflationary carbon tax hikes" which is rooted in #climatechangedenial. Since 2008 British Columbia, Manitoba and Quebec have had both carbon taxes and income triggered carbon tax rebates/credits for low income households. ⬇️

Since 2008 British Columbia, Manitoba and Quebec have had both carbon taxes and income triggered carbon tax rebates/credits for low income households. www2.gov.bc.ca/gov/content/ta… ⬇️

“In documents tabled with the Standing Committee on Finances (FINA), Governor Macklem revealed that the Liberal Carbon Tax increased inflation by 0.4 per cent. Woo hoo! Compare that to this.
One of the biggest environmental problems in the world today is outdoor air pollution⬇️

Data from the World Health Organization (WHO) shows that an estimated 4.2 to 7 million people die from air pollution worldwide every year and that nine out of 10 people breathe air that contains high levels of pollutants. Consider the impact of that on healthcare costs.⬇️

And evidence from Canada and Europe over the past three decades to show that carbon taxes changed relative prices but did not increase the overall price level. Instead, they were slightly #deflationary. cepr.org/voxeu/columns/… ⬇️

Lastly, let's unpack Poilievre's #deficitspending #inflation and #interestrates. Fiscal deficits are negative balances that arise whenever a government spends more than it brings in during the fiscal year. Such imbalance is common among contemporary govts all over the world. ⬇️

An increase in the fiscal deficit can boost a sluggish economy by giving more money to people who can then buy more & invest more. The govt introduced Canada Emergency Response Benefit to help workers, students and businesses facing hardship resulting from the COVID-19 outbreak

Stephen Harper's fixation on a #balancedbudget failed to build him a reputation as a solid economic manager during 9 years and 8 months time when there was no pandemic and he ended up running a #deficit. The #regressiveeconomicpolicies like those instituted by the Harper govt⬇️

austerity, cuts to public spending, tax cuts, suppression of workers’ wages, elimination of public service jobs and a narrow focus on the resource sector are all policies we Canadians should all want to avoid repeating. ⬇️

6 charts show Stephen Harper has the worst economic record of any Prime Minister since World War II pressprogress.ca/6_charts_show_… ⬇️

We need to be aware that #taxcuts lead to #inflation. They only help the rich and reduce the government services on which lower-income individuals rely.

What are the economic policies of the Conservative Party? Conservatives advocate #taxcuts, reduced government spending, free markets, #deregulation, #privatization, free trade, and minimal government debt. #Deregulation is the reduction or elimination of govt power in a

particular industry, and that leads to the elimination or reduction of #environmentalprotectionregulations and #consumerprotectionregulations.
#Deregulation in the financial industry was the primary cause of the 2008 financial crash.⬇️

re: smaller govt = fewer civil servants with adequate pay & benefits delivering fewer social services.

Research shows people are happier when govt policies assure them of fair wages, fair treatment at work and a social safety net that provides security when the market fails ⬇️

All citizens are happier when they know that the minimum payoff for hard work is sufficient income for living.
So, should govt policies should serve the interests of citizens or those of the market?

Last and least is Poilievre's 3.

Take a close look at that sentence while recognizing that housing supply, subdivision, zoning and building permits are under Provincial/Territorial and Municipal authority and jurisdiction. No PM can arbitrarily change the authority and jurisdictions ⬇️

set out in the constitution and charter. canada.ca/en/intergovern… We elect who represents us provincially and in municipalities but @PierrePoilievre has a plan to increase #housingsupply that interferes with that critical freedom.

He proposes to replace who we elect Provincially and Municipally and the policies they set with our support with a sole #gatekeeper or single ruling federal party that wields supreme power and authority to compel increasing housing supply via extortion. ⬇️

If so our Canadian democracy would become a ... drumrolll ...🥁fascist state with him as dictator, if he were PM😳

@threadreaderapp please unroll this thread

There is abundant proof from the 2019 data that B.C. carbon pricing is having an effect. Overall emissions barely rose. Other measures point to effectiveness of carbon taxes in B.C.: per capita emissions have trended down, as has amount of emissions generated per dollar of GDP.

Results suggest #carbontax did not significantly increase #inflation, with dynamic effects estimated around zero. Instead we find support for relative price changes, increasing cost of energy but leaving the price of other goods and services unaffected. ideas.repec.org/p/gii/giihei/h…

The long-run gains may be huge. As pressure mounts on carbon-intensive industries to de-carbonize, we'll end up with a world where there's very little carbon to tax. #carbontax
Carbon taxation and #inflation. Evidence from Canada and Europe via @YouTube