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#Budget2023 makes hefty investments in clean economy, health and affordability but mostly misses the mark on how to pay for it. 1/4
The good news: stock buyback tax announced in the fall financial update and a new tax on dividends in the financial sector will bring over $1 billion a year from rich corporations. 2/4
The bad news: NO expansion the excess profits tax to other sectors as recommended by FINA, NO movement to match Biden's 15% minimum book profits tax to limit corp tax avoidance, AND continuation of huge tax loopholes like 50% discount on capital gains means one thing: 3/4
Ordinary Canadians will pay for the bulk of the new spending, now and in the future, while wealthy corporations and individuals remain under-taxed.
To sum up: @JustinTrudeau and @cafreeland missed a perfect opportunity to make fair taxation part of our future. #TaxTheRich
4/4
To sum up: @JustinTrudeau and @cafreeland missed a perfect opportunity to make fair taxation part of our future. #TaxTheRich
4/4
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