Economy 53,075 Posted January 27, 2018 Share Posted January 27, 2018 https://www.google.ca/amp/business.financialpost.com/news/economy/morneau-vows-to-keep-canada-competitive-in-face-of-u-s-corporate-tax-cuts/amp The finance minister says Canada will not ignore the tax cuts in America and the potential reduction in Canadian competitiveness vs the US and will consider measures to increase competitiveness and make sure that includes taxes US Corporate taxes are now only 21%. In Canada they are even lower at 15% but when factoring in bigger loopholes in US tax system, the effective tax rate is now actually about the same so Canada no longer has a tax advantage over the US Link to post Share on other sites More sharing options...
Luc 4,776 Posted January 27, 2018 Share Posted January 27, 2018 A race to the bottom. It's like a trade war, where lowering business taxes is similarly protectionist as raising import tariffs is. The solution? Have a WTO-like organisation which strives to keep countries sovereign in their business tax levels: not the businesses get to decide by using their leverage, but countries remove this leverage together to make them the ones that decide how much they tax business. If all developed countries had roughly equal business taxes, environmental regulations and wages, countries would be competing with eachother for the best education and best living circumstances instead. Link to post Share on other sites More sharing options...
ShockPop 7,747 Posted January 27, 2018 Share Posted January 27, 2018 I honestly think having employees should be tax deductible. Raise minimum wage, give tax cuts for employing more full time workers. Everyone gets richer, the economy is fuelled by people spending, the baby Jesus has a great birthday. Link to post Share on other sites More sharing options...
Economy 53,075 Posted January 27, 2018 Author Share Posted January 27, 2018 7 hours ago, Luc said: A race to the bottom. It's like a trade war, where lowering business taxes is similarly protectionist as raising import tariffs is. The solution? Have a WTO-like organisation which strives to keep countries sovereign in their business tax levels: not the businesses get to decide by using their leverage, but countries remove this leverage together to make them the ones that decide how much they tax business. If all developed countries had roughly equal business taxes, environmental regulations and wages, countries would be competing with eachother for the best education and best living circumstances instead. I've said this before. But I don't see it happening Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted January 29, 2018 Share Posted January 29, 2018 On 1/26/2018 at 11:50 PM, Luc said: A race to the bottom. It's like a trade war, where lowering business taxes is similarly protectionist as raising import tariffs is. The solution? Have a WTO-like organisation which strives to keep countries sovereign in their business tax levels: not the businesses get to decide by using their leverage, but countries remove this leverage together to make them the ones that decide how much they tax business. If all developed countries had roughly equal business taxes, environmental regulations and wages, countries would be competing with eachother for the best education and best living circumstances instead. Somewhat euphamistic. ∆∆∆∆∆ Cost of living and employer regulations will never be globalized.. even if democracy was used everywhere the sheer cultural diversity is too broad for that to happen.... Many places the employers have leverage to offer any low pay wages or you don't work...... Socialist economies are so heavily regulated that private enterprises is no better than being government owned. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,075 Posted January 31, 2018 Author Share Posted January 31, 2018 On 29/01/2018 at 8:51 AM, Woolfsmck said: Somewhat euphamistic. ∆∆∆∆∆ Cost of living and employer regulations will never be globalized.. even if democracy was used everywhere the sheer cultural diversity is too broad for that to happen.... Many places the employers have leverage to offer any low pay wages or you don't work...... Socialist economies are so heavily regulated that private enterprises is no better than being government owned. I think he or she meant on Corporate taxes specifically I see a lot of problems that could arise from that. I do however see problems of having to compete for the rich too Just look at Amazon's second headquarters. Cities are offering so many freebies to get them to pick their city. A struggling small business could never Link to post Share on other sites More sharing options...
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