What could possibly go wrong? The highest marginal tax rate for federal and provincial taxes for Albertans in 2014 was 39 per cent. In 2016, it is 48 per cent.
h/t Plainzfyre
What could possibly go wrong? The highest marginal tax rate for federal and provincial taxes for Albertans in 2014 was 39 per cent. In 2016, it is 48 per cent.
h/t Plainzfyre
Don’t forget to add municipal tax, HST, gasoline tax, higher than cost user fees, etc, when computing total tax burden. Then add indirect effects like paying higher prices for goods and services because corporations are getting hit with higher taxes as well.
I’d get out of Dodge as well, if I had the dough. If the government isn’t going to be responsible in their spending, then the hell with them.
Yup – That’s what I’ve been saying.
Then they want matching contributions funneled through the Red Cross international filter before they’ll help out the people of Fort Mac.
F*CK YOU I’ve already given, so have most in Fort Mac as well.
Just look at Ontari-owe and see how bad it will get. And to think, Notly hasn’t even implemented a provincial sales tax yet which will likely happen due to the massive cleanup costs up on Fort Mac….It’s coming. Welcome to progressive Canada….sigh
Yes, and the list of subversive ways that governments get into our wallets is near endless.
Any intelligent economist(the key is finding one)will tell you that people will modify their behavior when faced with new parameters. A XX% tax increase will not automatically net $XX revenue because people will take action to avoid paying those high taxes. Especially if they believe these new tax rates to be punitive and abusive. Up and leaving is about as drastic a reaction as you can have.
Only the leftist mentality could conceive driving away our best producers and capital investors as wise economic policy.
I am starting to think that most economists are like IPCC scientists. Too scared of damaging their careers to speak out about the dedication to a faulty narrative by their peers.
O’leary attempts to explain a few things to Notley:
http://www.huffingtonpost.ca/kevin-oleary/an-open-letter-from-kevin_b_9385016.html
Interesting reading the CBC comments section. Most of the commenters hate the rich. Being poor is a self-fulfilling prophesy when you hate the rich.
Oilers and Flames won’t be winning the cup any time soon. It’s hard to attract top talent to any organization when you’re taxing them to death.
Progressives do not care what they rule as long as they rule and their goal is to imement a progressive agenda. The outcome of that matters not.
Never forget all of this started with the progressive Danielle smith.
I saw tax exodus to Alberta 30 years ago. A quite wealthy Winnipegger I knew bought a house in Calgary and paid for it in record time with tax savings. His company still operated in Winnipeg and other places. The problem with taxes is people only pay as much as they choose to pay. They always have the option of moving or rearranging their affairs. Moving out of the country only works if your name is Bronfman and you get excused from capital gains tax. If the oil doesn’t start pumping soon, Notley may have a $20 billion deficit.
Just go Galt. One of the commenters here that’s a regular figures $40-50k is the sweet spot so far as bennies and other stuff goes. IMHO, I think closer to the bottom end of that but YMMV.
The comments at CBC are exactly what I expected,”filthy rich guy leaves town while we peasants suffer”, etc.
I don’t believe the sjw’s who are the audience for CBC have a clue about economics,nor do they want to learn,just spend their lives yowling about injustice.
I posted that the government has no right to your money,speculated that Alberta teams will now have a hard time attracting top NHL stars, and mentioned how global warming was all about taxation, my comment should be gone in ten minutes.
I’m working on “going Galt”, the sweet spot is below $30K but it’s going to take me some effort to get below $40K. Carbon taxes on my home heating was the last straw – it’s hard to imagine the mind set of a government thinking they can do that and get away with it. It’s a sign of how low we’ve sunk that they did it with impunity, back in “the good old days” Canadian politicians trembled with fear before they jammed their hands into our pockets. And don’t think the NDP can’t get re-elected, all our culture and media has saturated the population with the idea of voting as left as possible, any political association with conservatism or capitalism is leprous to a large voter segment. I’m amused by the use of sexuality to excite the population, flogging the sexual issues, gays, transgender, washrooms, abortion, even “women” (a commodity in pop culture and advertising), stirs people up on a very basic level… “Sex! we’re for it, they’re against it” is how it comes across to the television-addled bozo’s ears.
Kathleen Wynne’s twin sister is running the once great Alberta.
Nose dive, here it comes!
I think I’ve figured out how progressives develop economic ideas. They are unrealistic optimists who understand neither human nature nor the concept of action-reaction. They can only imagine things going exactly as pictured in their heads. Next, get think tanks and academics to produce studies that support their ideas and only their ideas. Never request or include sceptical or opposing ideas. Then, when humans fail to respond the way they’re supposed to in their imaginary world, fly into a rage and propose increasingly authoritarian policies. The escalation from nudge to shove to sucker punch happens very quickly with progressives. Examples – wealth taxes (France 90%), corporate inversions, sin taxes and the black market, voluntary green energy, etc.
I did learn something interesting about London: they rely on high consumption taxes, VAT, instead of high income taxes. Apparent this is attractive to high income residents. Perhaps if Alberta combined their flat tax rate with a new consumption tax to cover deficits and expenses they’d regain the Alberta Advantage. Seems more sensible than taxing the product that not only powers their economy but is essential for keeping warm in the winter and travelling to work.
The green fascist by the name of Shannon Phillips (a Greenpeace supporter) rather arrogantly said that Albertans will have to change their “behaviour” when the enormous carbon TAX kicks in. I will do exactly that….change my behaviour…but not like she thinks. I will stop tipping completely, I will not donate to charities any longer, I will go underground and will look for “cash only” goods and services and any other way that I can get around government theft.
Bumper sticker:
Help Grow Your Local Underground Economy – Vote NDP or Liberal
Vote N.D.P, you are never done paying.
Income is a sin tax.
Government bureaucrats insist that high taxes is good policy as it discourages bad behaviour.
For example the cigarette and liquor theft by tax.For your own good of course.
Under this philosophy 100% taxation is double plus good.
At 50% the disincentive to engage in productive work is near total.
The compliance issues,endless threats of theft and violence made against you by Government for failure to comply, ends up driving honest people out of whole sectors of the economy.
When governed by thieves, using rules made by those thieves for their benefit, corruption runs rampant.
False incentives lead the market astray, bubbles form, ponzi schemes originate from legislation.
Society breaks down.
Only the bent and criminal elements prosper, encouraging the rest of us to “Get Bent”. It pays and has no obvious consequences…except you wind up with cities you do not want to live in,laws that govern all yet none.
You get Canada where the sponges, the takers, overwhelm the productive. Those productive, being somewhat smarter, adapt to the situation.
There is a reason the destroyers hate businesspeople.
Business most always pays lip service to law and gets on with selling people what they need.
So mocking the ideologues.
Ideologues attempt to control business.
where they succeed you get societal collapse.
Most High Income earners can also reduce their workloads and take reduced income if they choose to. It’s easy to create a better balanced work/ life environment once they make working for the extra senseless.
Also reduce purchasing high value consumables like expensive vehicles/ toys/ appliances, and run your existing consumables for years longer than you normally would.
Stop ALL charitable donations, most are frauds and it only encourages Liberal Governments to waste it on the Third World as a form of institutional welfare plantations.
As of Jan 2016, I’ve done all of the above, reducing my Income and workload by more than 50%. So far it’s been pretty damned nice, I spend my extra time looking for Alberta fire-sale deals. I’ll ramp up once Nutley and her NDP sorority are kicked to the wayside in a few years.
Tax the Rich ! To the barricades, mon ami ! Man the barricades ! … oops LGBTQ-QQ-eieio the barricades !
One can comfortably “Go Galt” in Canada with a gross income of $30k-$40k if the house is paid for. It’s even better if you’re self employed.
I don’t see this point at all. Higher taxation always leads to more wealth. Look at NB, their top marginal rate is 58% and they’re doing great.
Remember, we’re all part of government, so if we give them more, we’ll be “better off.”
This is because government is smarter than the great unwashed.
They get better results with our money than we can. Look at Venezuela and Greece; case closed.
Until that fails, then it’s capitalism’s fault.
something interesting about London: they rely on high consumption taxes, VAT, instead of high income taxes.
YES… that is a much better tax system. Reduce income taxes or eliminate them entirely. Tax people on what they consume. Little or no tax on the basics, higher taxes on luxuries. The more one consumes then the more they utilize the ‘system’ and the more tax they pay to keep it running.
Murray Edwards has donated millions $$$$ to charities, hospitals, universities etc. I doubt he will stop his philanthropy to Albertan causes just because he resides in London. The only thing he will stop doing is funding the NDP in Alberta and Zoolander McSelfie federally.
…and it simplifies the system. Both flat taxes and consumption taxes are easy to manage and efficient. Generous rebates/direct support for the poorest are also easy to manage. You’d think compliance costs would be much lower for businesses, taxpayers and government (less CRA staff and tax accountants). Fewer reasons for tax havens, political lobbying and payoffs, wining and dining CRA investigators…Oh, perhaps that’s why we can’t have a simper tax system. Too many entrenched interests benefiting from the current system.
Seems time to mention the Laffer Curve on tax rates as it doesn’t seem to have made it to this thread yet
https://en.wikipedia.org/wiki/Laffer_curve
The shape of the Laffer curve is uncertain and disputed, but with a name like that it’s bound to be funny.
More proof that Red Rachel bungled her handling of the Fort McMurray fires:
https://www.youtube.com/watch?v=JNhZnfyaC3U
I really love watching the exodus out of AB. The idiots who voted for the downfall of Canada (Turdeau) are heading back to their god-forsacken places they helped create. But not to worry,they are SJW’s who are just parasites who live off the productive.
Understanding the Laffer curve is really quite simple: At a tax rate of 100% how much tax will be collected? Zero. Pretty much the same at 99% and 98%. keep dropping it until tax collections become positive and continue dropping them until tax collected starts dropping and then stop. Vote pimping politicians just won’t buy into the model because it conflicts with the politics of envy, resentment and hatred. As Thatcher said in the Commons to some Labour MP, “you’d raaather the poor get poorah then the rich get richer”.
Extremely revealing:
The Martin Mars is Canada’s largest water bomber. It’s staged at Sproat Lake BC, a short flight away from Fort McMurray and could have been used in the fight against the massive wildfire … The bomber wasn’t there because the company that owns it wasn’t asked by Alberta government officials to make it available to fight fires in Alberta.
…
Premier Notley said that “every single resource that is needed to fight that fire will be dedicated no holds barred.” Sure. Except contracting the Martin Mars when it was available and the C130 bomber and flight crew that Coulson Flying Tankers is offering. The government hasn’t taken them up on their offer of help because they do not see the need.
…
In all the government spending Alberta does, the highest per capita in the country, the place Rachel Notley saw fit to cut was wildfire management. She didn’t make a single cut to bureaucracy in health and government. Not a penny in inefficiency could be found there. The only places she could cut? Agriculture and the safety of Alberta’s forest communities.
It’s good to see some people still do investigative reporting.
Yes, that was obvious. It’s an oversimplification that’s more amusing than valid.
In reality it’s not a simple bell curve or parabolic distribution as shown, rather it’s usually skewed by so many external factors that make it virtually useless to predict an optimal tax rate.
When I was reading the comments in the CBC.Ca article, I also noticed many anti-rich comments. I’ve learned a long time ago that Leftists not only hate the the rich, they usually hate everyone, including themselves. The predominant feeling among leftists is feeling inadequate.
That explains their reasoning and their subsequent woes.
as has been sais many times, socialism is great until you run out of other people’s money, or those people just leave and take their money with them.
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