Federal Government Wants To Close Tax Loopholes for Wealthy Canadians: Here’s What We’re Reading
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Here’s what we’re reading today.
1. Finance Minister proposes tax changes to close loopholes for wealthy
“Finance Minister Bill Morneau is proposing to close loopholes that allow wealthy Canadians to avoid higher tax rates, largely by targeting people who incorporate themselves and then draw income from their businesses while paying lower corporate taxes.
“There has been an eight-fold increase in the number of corporations in Canada since the 1970s, while the gap between personal tax and business tax rates has grown significantly. As of 2017, there is a 37.2 per cent gap, meaning income derived from a business faces a much lower tax burden.”
– CBC News
2. John Tory wants Toronto to get a share of pot revenues
“While the province plans to regulate the sale of pot in an as yet-to-be determined retail distribution model, it will ‘be on the shoulders of municipalities,’ to pick up ‘a big part’ of the added licensing, zoning by-law enforcement and policing costs, Tory wrote in a letter to Ontario Premier Kathleen Wynne.”
3. Republican’s ‘Plan C’ on Obamacare, Repeal Now, Replace Later, Has Collapsed
“The collapse of the Senate Republican health bill — and the failing struggle to find yet another alternative — highlighted a harsh reality for Senate Republicans: While Republican senators freely assailed the health law while Mr. Obama occupied the White House, they have so far not been able to come up with a workable plan to unwind it that would keep both moderate Republicans and conservatives on board.”
+1: Why is the US the only rich country without universal health care? – Quartz
4. At this point, Amazon can crush a company just by filing for a trademark
“Amazon is an unstoppable beast, consuming all industries that are ripe for disruption and unfortunate enough to cross its path. On Monday, its latest victim was the struggling food delivery service Blue Apron.”
– Gizmodo
+1: Uber employees are miserable – BuzzFeed News
5. Why are neo-liberals such big babies?
“Pundits like Jonathan Chait resent the term, but only because it’s being used to attack them.”
+1: Stop telling students free speech is traumatizing them – New York Magazine
