本文发表在 rolia.net 枫下论坛Liberals Expose Conservative Capital Gains Tax Cut
Ottawa - Conservative Leader Stephen Harper's proposed capital
gains tax cut creates a massive tax loophole that will deliver in the
order of $6 billion over 5 years in federal tax cuts to the richest one
per cent of Canadians, Finance Minister Ralph Goodale and Revenue
Minister John McCallum said today.
"This $6-billion dollar windfall will benefit the wealthiest
Canadians. In fact, the bulk of the total benefit of the Harper tax cut
will go to the 140,000 Canadians who earn more than $100,000 a year and
report capital gains," said Minister Goodale. "That is only 0.6 of
one percent of the 23 million people who file taxes in this country."
Minister Goodale said Harper's tax cut for the rich is even more
outrageous since he would implement it at the same time as he would
roll back the Liberal government's tax cuts for low and middle-income
Canadians.
"This is staggering. Understand that more than 95 per cent of
Canadians will never see any benefit from this plan, but they will pay
for it in spades - through higher personal income taxes and the loss
of valued government programs," said Minister Goodale.
Minister McCallum, a former Chief Economist of the Royal Bank of
Canada, spelled out the scale and regressivity of the loophole.
He said that the tax benefit for those 34,000 Canadians who earn more
than $250,000 a year and report capital gains would average about
$115,000 over five years - roughly twice the average annual household
income.
"That's a huge benefit to a select and wealthy few," McCallum
said. "I cannot think of a tax cut that is more skewed to the rich than
this one."
McCallum added the Conservatives' costing of this measure is a
massive under-estimate of the actual costs.
"Any competent financial planner can find half a dozen ways to ensure
you never pay. This promise comes close to a de facto elimination of
the capital gains tax for individuals," he said.
He said the Conservatives have completely miscalculated the cost of
this commitment. They said it would cost the federal government $150
million a year, which is only 7 per cent of the federal government's
revenue from the capital gains tax on individuals. The true cost would
likely be about $1.7 billion a year to the federal treasury.
"Is this incompetence, or are they trying to hide this massive
windfall for the rich?" asked McCallum.
He also noted that the Conservatives did not put any limitations on the
range of capital assets that would qualify, which means the impact of
the proposal could be even greater, as this loophole could
significantly alter investor behaviour.
"We have to ask how Mr. Harper intends to pay for this. Will this tax
cut for the very wealthy be funded by cancelling the national child
care program, backing away from our Kyoto commitments or cancelling the
Kelowna accord?" said Minister Goodale.更多精彩文章及讨论，请光临枫下论坛 rolia.net
Ottawa - Conservative Leader Stephen Harper's proposed capital
gains tax cut creates a massive tax loophole that will deliver in the
order of $6 billion over 5 years in federal tax cuts to the richest one
per cent of Canadians, Finance Minister Ralph Goodale and Revenue
Minister John McCallum said today.
"This $6-billion dollar windfall will benefit the wealthiest
Canadians. In fact, the bulk of the total benefit of the Harper tax cut
will go to the 140,000 Canadians who earn more than $100,000 a year and
report capital gains," said Minister Goodale. "That is only 0.6 of
one percent of the 23 million people who file taxes in this country."
Minister Goodale said Harper's tax cut for the rich is even more
outrageous since he would implement it at the same time as he would
roll back the Liberal government's tax cuts for low and middle-income
Canadians.
"This is staggering. Understand that more than 95 per cent of
Canadians will never see any benefit from this plan, but they will pay
for it in spades - through higher personal income taxes and the loss
of valued government programs," said Minister Goodale.
Minister McCallum, a former Chief Economist of the Royal Bank of
Canada, spelled out the scale and regressivity of the loophole.
He said that the tax benefit for those 34,000 Canadians who earn more
than $250,000 a year and report capital gains would average about
$115,000 over five years - roughly twice the average annual household
income.
"That's a huge benefit to a select and wealthy few," McCallum
said. "I cannot think of a tax cut that is more skewed to the rich than
this one."
McCallum added the Conservatives' costing of this measure is a
massive under-estimate of the actual costs.
"Any competent financial planner can find half a dozen ways to ensure
you never pay. This promise comes close to a de facto elimination of
the capital gains tax for individuals," he said.
He said the Conservatives have completely miscalculated the cost of
this commitment. They said it would cost the federal government $150
million a year, which is only 7 per cent of the federal government's
revenue from the capital gains tax on individuals. The true cost would
likely be about $1.7 billion a year to the federal treasury.
"Is this incompetence, or are they trying to hide this massive
windfall for the rich?" asked McCallum.
He also noted that the Conservatives did not put any limitations on the
range of capital assets that would qualify, which means the impact of
the proposal could be even greater, as this loophole could
significantly alter investor behaviour.
"We have to ask how Mr. Harper intends to pay for this. Will this tax
cut for the very wealthy be funded by cancelling the national child
care program, backing away from our Kyoto commitments or cancelling the
Kelowna accord?" said Minister Goodale.更多精彩文章及讨论，请光临枫下论坛 rolia.net