Mitt Romney’s résumé at Bain should be a slam dunk. He has been a successful capitalist, and capitalism is the best thing that has ever happened to the material condition of the human race. From the dawn of history until the 18th century, every society in the world was impoverished, with only the thinnest film of wealth on top. Then came capitalism and the Industrial Revolution. Everywhere that capitalism subsequently took hold, national wealth began to increase and poverty began to fall. Everywhere that capitalism didn’t take hold, people remained impoverished. Everywhere that capitalism has been rejected since then, poverty has increased.
Taxation
Speak Out Against Ridiculous Tax Hike
The amount of money you have for groceries, your mortgage payment and putting clothes on your kids is under attack. Again. The Manitoba Federation of Labour and the Manitoba Business Council (represents many CEOs of the largest businesses in Manitoba) want you to pay an 8% sales tax on everything you buy instead of the current rate of seven.
Tax Credits Unfair And Ineffective
My article on tax credits, with a particular focus on Saskatchewan’s recently removed Film Tax Credit, has been published today.
Tax Credits Unfair And Ineffective: Why politicians like them, and you shouldn’t
Tax credits are designed to reduce the financial burden on a particular industry to create jobs and improve living standards for all. They do so by encouraging outside investment into a local economy and provide incentives to existing business to expand. The theory is sound, but is a tax credit the best way to achieve these aims?
Featured News
Demand Fairness from Ottawa and Edmonton
A few weeks ago, Albertans voted to reduce the inequities in the federal equalization program. The deficit between the dollars that leave to and come back from Ottawa has recently been as high as $27 billion in one year. During times of crisis, it feels like salt in...
Inflation: They Win, You Lose: Politicos, Cronies Fleece Canadians with Monetary Expansion
One of the most widespread economic myths is that inflation—the reduced purchasing power of a currency—is a win for a nation, a sign of a booming economy. For the privileged classes in government and with initial access to monetary expansion, it is a win. For everyone...
Subsidizing Separatism in Quebec: Public Subsides for Political Parties
The Frontier’s new review of public subsidies to political parties is out: such subsidies have cost $330 million since 2000 and have mainly helped the sovereigntist movement in Quebec.
Media Release – Subsidizing Separatism in Quebec: Public Subsidies for Political Parties
Public subsidies have the pernicious effect of helping the Quebec sovereigntists do more campaigning and advertising than would otherwise be possible. Despite the opposition in late 2008 to ending taxpayer subsidies for political parties, continued subsidies are not in the interest of any federalist party interested in winning seats in Quebec.
Twenty Years of Stimulus for East Germany
Economically, reunification has been devastating for the east. It need not have been. Two decades after the fall of the Berlin Wall, West German politicians look on with satisfaction at the results of 20 years of reconstructing East Germany. East German town centers...
Michael Moore is Right–On Film Tax Subsidies: Time to dump generous and inefficient
Tax relief is a useful end but not when done through sector-specific credits that distort incentives to favour one industry over another, such as occur with the film industry.
Tax and Growth in Manitoba and Saskatchewan: Good tax policy is not a silver bullet for economic growth, but it helps.
Tax policy too often focuses on which groups get what in the short term. Smart tax reform looks at how the type and level of taxes affect economic behavior and long-term prosperity.
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David MacKinnon Speaks on Taxation and the Economy
Listen to David MacKinnon speak about costs of Public Industry in Canada here. (30 minutes)
Manitoba’s Government Pay Premium: Manitoba taxpayers foot the bill for unusually high public servant salaries
Public servants in Manitoba enjoy a larger government “pay premium” than comparable workers in other Canadian jurisdictions. FC052
Times are Tough for (Almost) Everybody
In 1991, federal public servants enjoyed a “pay premium” of 34% compared to the average weekly wage earned by individuals working in other occupations. In 2008, the gap was 59%.
The Ultimate Tax On Economic Growth
Even in the best of times, Canada’s capital gains taxes produce insignificant revenue. In 2006, a good year, federal and provincial governments collected $3.5-billion in capital-gain tax revenue – less than 1 per cent of total tax revenue. It’s time to encourage entrepreneurial activity. It’s time to release – for productive employment elsewhere – much of the brain power held needlessly captive by Canada Revenue.