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  • Originally posted by KC View Post
    Incomes are also higher because we borrow.
    You could maybe make the argument for that with govt positions and incomes, but most of the tax dollars come from the private sector. So unless the argument is that our incomes are higher than all other provinces because all our private companies borrow just to make up the difference in incomes, then I don't think that makes sense.

    Also, our federal income tax remittances have been higher for a long time. Even during periods where we did not have to borrow and had surpluses.
    If you are taking about personal loans, mortgages, helocs, etc. That is done with after tax dollars and the CRA obviously does not tax it, so it doesn't show up in our income tax remittances. Though you could argue it might show up in our consumption taxes remittances.
    Last edited by nobleea; 28-10-2019, 09:02 PM.

    Comment


    • Originally posted by nobleea View Post
      There were other odd comments on the equalization formula. For example for every albertan that retires to BC (and not in AB) that CPP and OAS cheque they receive is counted as a federal transfer to BC. So the fact that AB is so young and few end up retiring here makes our equalization payment much worse. We would pay out much less per capita.

      If the equalization fund were completely abolished and all the funds were distributed evenly among Canada's population, we'd still be out billions. It's just a fact because we make so much money. Even after the oil crash, Ft Mac has the highest median incomes in the country.

      The equalization payouts are strictly because we make so much. Our provincial deficits are because our provincial income and sales taxes are so low (compared to the rest of the country) and/or we spend so much.
      The same situation exists for health care for the Alberta resident that retires to BC or elsewhere (for instance, some people from the Martimes go back there after working in Fort Mac for many years). The taxes paid in Federally came while the person was an Alberta resident, but the services consumed later in life for the same person would be paid by the Federal government to another province.

      Comment


      • The fact is we haven't gotten equalization payments for decades all because our incomes are so high. Not because QC spends so much on free tuition and cheap daycare or whatever it is. And because we've always had a young population both due to the fact that young people follow the work (And money) and old people tend to retire to warmer climes after making all that money.
        The reasons for have not provinces getting more of our federal tax dollars are the same as they've always been even before Kenney changed the formula when he was in federal cabinet.

        If we were to drop our provincial income taxes substantially that would be the easiest way to 'keep' more of our federal tax dollars under the current scheme. Of course, that results in a massive deficit at the provincial level, but the equalization program doesn't care about the provinces expenses, only it's income potential.

        There's no quick answer.

        Comment


        • Alberta actually has made out quite well since the Conservative changes to the major transfers distribution formulas, of which equalization is about 1/4 worth in dollars.

          Per-capita change major transfers 2007-2020 ($000,000)
          2007-8 2019-0 % change
          Average 1434 2097 46.2
          NL[i] 2882 1465 -49.2
          PEI 3110 4160 33.8
          NS 2611 3484 33.4
          NB 2958 4078 37.9
          QC 1902 3013 58.4
          ON 948 1465 54.7
          MB 2510 3111 23.9
          SK 1316 1465 11.3
          AB 797 1465 83.8
          BC 1021 1465 43.5
          [i] Both Newfoundland and Labrador and Saskatchewan received some equalization in 2007-8 but because of increased fiscal capacity due to resource development their 2019-20 transfers consist only of CHT and CST
          http://www.formac.ca/starrspoint/201...kes-to-forget/
          Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

          Comment


          • Stop clouding the issue with facts. Everyone knows that reality has a well known liberal bias.

            Comment


            • Originally posted by nobleea View Post
              Originally posted by KC View Post
              Incomes are also higher because we borrow.
              You could maybe make the argument for that with govt positions and incomes, but most of the tax dollars come from the private sector. So unless the argument is that our incomes are higher than all other provinces because all our private companies borrow just to make up the difference in incomes, then I don't think that makes sense.

              Also, our federal income tax remittances have been higher for a long time. Even during periods where we did not have to borrow and had surpluses.
              If you are taking about personal loans, mortgages, helocs, etc. That is done with after tax dollars and the CRA obviously does not tax it, so it doesn't show up in our income tax remittances. Though you could argue it might show up in our consumption taxes remittances.
              Good point. However, in just a few years we’ve borrowed $60 some billion and that will continue to climb. So the $60 billion went into the economy and sloshed about.

              Some of it in direct payments to recipients but much of it for program spending which would include wages. The $60 billion of borrowing and spending sustained jobs, rescued the economy and so on but it nonetheless allowed the system to sustain jobs, jobs which then paid a portion of the income as federal income taxes. (Same for borrowing which flowed into corporate coffers creating taxable profits.)


              Now... other provinces have even larger deficits and debts, yet receive equalization.

              Looking at the balance of corporate income taxes vs personal income taxes would be interesting.
              Last edited by KC; 30-10-2019, 12:08 PM.

              Comment


              • Originally posted by KC View Post
                Looking at the balance of corporate income taxes vs personal income taxes would be interesting.



                https://lop.parl.ca/sites/PublicWebs...ons/201701E#a3
                Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

                Comment


                • Well ol' Scheer resigns.

                  Not a moment too soon.

                  From what Top_Dawg saw he was a dangerous neanderthal like Harper.

                  All they wanted to do was:

                  - ban abortion
                  - repeal same sex marriage
                  - frogmarch all the gays into box cars and herd them into forced conversion therapy boot camps

                  Top_Dawg hopes the Conservatives finally pick a leader focused on economic issues instead.

                  Comment


                  • Originally posted by Top_Dawg View Post
                    Well ol' Scheer resigns.

                    Not a moment too soon.

                    From what Top_Dawg saw he was a dangerous neanderthal like Harper.

                    All they wanted to do was:

                    - ban abortion
                    - repeal same sex marriage
                    - frogmarch all the gays into box cars and herd them into forced conversion therapy boot camps

                    Top_Dawg hopes the Conservatives finally pick a leader focused on economic issues instead.
                    They tried focusing on the economy , people preferred airy fairy JT, who is sending this country into another recession.
                    Animals are my passion.

                    Comment


                    • Following two quarters of slower growth, economic output strengthened in the second quarter of 2019 as exports advanced. However, final domestic demand was lower as household spending slowed and non-residential business investment declined. Investment in housing increased for the first time since late 2017.

                      Goods production expanded in the second quarter, following two consecutive quarterly declines. Increases in oil extraction bolstered goods output as oil production limits in Alberta eased. Higher output in resource industries contributed to improvements in business productivity and capacity utilization. The output of services industries strengthened in the second quarter, supported by increases in wholesaling and real estate activity.

                      Employment continued to strengthen during the first half of 2019, led by gains in full-time work and among private-sector employees. Higher employment among youth and older workers accounted for most of the net gain over the first six months of the year. All of the net increase in employment during the first half was in service industries.
                      https://www150.statcan.gc.ca/n1/pub/...019014-eng.htm
                      Giving less of a damn than ever… Can't laugh at the ignorant if you ignore them!

                      Comment


                      • Originally posted by H.L. View Post

                        They tried focusing on the economy , people preferred airy fairy JT, who is sending this country into another recession.
                        Ah yes, H.L. much preferrers Conservatives to run the economy.

                        From Stephen Harper during the 2008 election. The election started on Sept. 7 and internal government documents showed that the economy was already in recession.

                        Sept. 15: "My own belief is if we were going to have some kind of crash or recession, we probably would have had it by now."

                        Sept. 16: "The Canadian economy's fundamentals are solid."

                        https://www.cp24.com/quotes-from-pri...-2008-1.354125

                        Comment


                        • Originally posted by H.L. View Post

                          They tried focusing on the economy , people preferred airy fairy JT, who is sending this country into another recession.

                          Top_Dawg knows that.

                          Satire H.L.

                          Satire

                          Comment


                          • Originally posted by Top_Dawg View Post


                            Top_Dawg knows that.

                            Satire H.L.

                            Satire
                            For you, but for the lefties..????
                            Animals are my passion.

                            Comment


                            • looks like sour grapes is still sour
                              A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices.

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