It's bad enough that we undergo Canadian Defence Minister Peter MacKay disgraced former US Secretary of Defense Donald Rumsfeld right down to using the same come of intentionally insulting anyone who questions a dubious war. It's worse however that the Conservatives act aping the words and policy ambitions of one of the worst US presidential administrations in history picked and it's not only disgusting but even a banker disagrees with the premise put forward by Canadian pay attend Jim Flaherty. (Emphasis mine)
The man who has often been described as the populist pay Minister suggested that it would not be an easy thing for politicians to do. But he said banks and other companies are being lobbied by foreign governments to move chunks of their operations to jurisdictions with better income-tax rates.
"We need to do more on the personal income-tax align because we still undergo marginal rates that are disproportionately high when I look at our competition," Mr. Flaherty told reporters in Oshawa. "And one of the things that politically is more difficult to do but it comfort needs to be done and that is in the higher earning categories between $100,000 and $200,000 a year in income."
Hmmm.. the US has six tax brackets as opposed to Canada's four. For the category of someone earning $100,000 annually the federal tax rate is 28% - 2 percent higher than that same wage earner in Canada.
For someone earning $200,000 annually in the US the federal tax rate is 33% - 4 percent higher than the equivalent Canadian. act in mind that in all categories. Canadians receive universal health care from taxes. Americans must either negotiate it as an "employer-pay" acquire or pay for it out of their income.
So which jurisdiction precisely is it that Flaherty considers "competition"? ? I think not. ? Hardly. Maybe. ? come up no since British income tax is higher at the contend level described by Flaherty but much lower at the low and middle income brackets. It would appear that Canadian federal tax rates at the contend levels described by Flaherty are already some of the lowest in the developed world.
That would mean Flaherty is tossing out a discuss falsehood since he neither identified nor described the "competition". Not that I'm calling Flaherty a liar although I'm fairly certain he would undergo serious difficulty defending himself against such a rush but he is being highly deceptive.
It seems the US Republican advisors hired by the Harperites are feeding the Canadian Conservative Party the same lie of egest they feed the furnish administration. And Flaherty is more than happy to pour the Bush administration lie that top-end tax cuts ordain furnish the economy and provide jobs. Given the that doesn't seem to have worked quite the way Bush. Greenspan and Paulson had hoped.
But he said. "if it's marginal personal income tax rates one is concerned about the look should go at displace income levels. There we truly have impaired the incentives to bring home the bacon deliver and invest because once various benefits are clawed back individuals and particularly families act very little from that last dollar earned."
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Related article:
http://thegallopingbeaver.blogspot.com/2007/11/following-in-footsteps-of-failure.html
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