Professor of Economics at the University of Toronto.
Mar 22, 2021 • 8 tweets • 2 min read
Sure, if we're going to get serious about capital gains taxation, let's pick on the one asset THAT ALREADY PAYS ANNUAL WEALTH TAX (1/7)
theglobeandmail.com/opinion/editor…
A $900,000 house in Toronto sold for $250,000 in 2000, a big gain for sure. But that owner has paid about $125,000 in property taxes and $40,000 in transfer taxes.
Feb 7, 2019 • 4 tweets • 1 min read
I see @jyduclos nodding in the background, so I am pretty sure Trudeau is right, not Poilievre. Sorry, Pierre!
Here's are average tax burdens for each 5% of the income distribution. The bottom 40% of taxpayers pay less than 5% of their income in taxes.
Jan 11, 2019 • 6 tweets • 1 min read
Interesting thread from Kevin.
This week I've been looking at data on trust from the General Social Survey 2013 that speaks to some of this. (Working on a new class). Some basic facts from the survey follow ...
About 17% of Canadians are mistrust strangers: they "cannot be trusted at all" AND if they found wallet in street would be "very unlikely" to return it.
About 15% of those people are also xenophobes: ppl who speak a foreign language "cannot be trusted at all".
Here is my paper estimating how Equalization increased provincial tax rates since 1972. Cutting Equalization in half would cause tax rates to fall about 7 percentage points on average in receiving provs…
