Justin Trudeau is Doing a Great Job

[ArcticCrusher]

9 hours ago, 1trailmaker said:

so how is Trudeau and the other dude protected from taxes?  have you looked into it?  baaaa baaaaa

lol on the 70% tax increase too funny how all politician can spin things

 

Deliberately missing?  you bet

No, its bang on, however its not an 70% increase its a 70% effective tax rate on passive investment.

You can read this, its long and over your head and shows how middle class businesses are screwed the most.

http://moodysgartner.com/wp-content/uploads/Aug-Sept-2017-Private-Company-Taxation-Seminar-Presentation.pdf

[04nightfire]

Was talking with the FIL this morning.  If him and the MIL were to pass away today, my wife, her sister and me would be hit with 1mill in taxes on the business.  Can't say I have that laying around for a rainy day.  Business would most likely close up 

[ArcticCrusher]

29 minutes ago, 04nightfire said:

Was talking with the FIL this morning.  If him and the MIL were to pass away today, my wife, her sister and me would be hit with 1mill in taxes on the business.  Can't say I have that laying around for a rainy day.  Business would most likely close up 

Pg 128 and 129 in my above post shows just how much you would get screwed.

Having a business worth say 6 million would currently result in taxes owing of 1.6 if sold to a family member as opposed to 1.4 if sold to an arms length company.  That will change to 2.7 mil with the Libtard proposals.  I'm sure your not alone.  You know the old saying about businesses failures following kids, 'if the second one doesn't fail the third one will for sure'.  Now the government will pretty much ensure that stops at the second.    

 

[1trailmaker]

2 hours ago, ArcticCrusher said:

No, its bang on, however its not an 70% increase its a 70% effective tax rate on passive investment.

You can read this, its long and over your head and shows how middle class businesses are screwed the most.

http://moodysgartner.com/wp-content/uploads/Aug-Sept-2017-Private-Company-Taxation-Seminar-Presentation.pdf

I don't claim to know the entire tax code like  you do

 

These new taxes would be on the companies deferred capital?

[ArcticCrusher]

17 minutes ago, 1trailmaker said:

I don't claim to know the entire tax code like  you do

 

These new taxes would be on the companies deferred capital?

Retained earnings are taxed at the small business tax rate, then if placed in a passive investment they are taxed at the highest tax rate currently and then when paid out as dividends or they are used in the business.  Current tax integration laws gives no preference of taxation of retained earnings, only deferral but cash flow is vital to the operation of a small business.  This change will hurt business as they will be forced to take that out.  It takes many years to develop capital to expand businesses, this governments shows just how stupid they are.

In a way its quite similar to a pension except the pension earnings are not taxed while they grow, passive investments are heavily taxed.

 

[dirtybeacher]

[revrnd]

He has 2 years in his mandate. Still a lot of boil water advisories in place. The MMIW inquiry is a fiasco. Is he delusional in thinking he is going to effect change in 2 years?

The indigenous are going to find out pretty fast he thinks of them just like the rest of us, voters to fool.

Edited September 24, 2017 by revrnd

[ArcticCrusher]

So much for the middle class paying less taxes.

Fail, how are you spending the extra cash?

 

http://business.financialpost.com/personal-finance/liberal-changes-have-only-led-to-higher-taxes-for-the-middle-class-despite-claims-otherwise-report

[1trailmaker]

35 minutes ago, ArcticCrusher said:

So much for the middle class paying less taxes.

Fail, how are you spending the extra cash?

 

http://business.financialpost.com/personal-finance/liberal-changes-have-only-led-to-higher-taxes-for-the-middle-class-despite-claims-otherwise-report

  ya lets just work with the percentile that will make our claims seem true said the Conservative ONEWAY based institute

I have no doubt a family member making 100k with a partner making nothing paid less in the one year of income splitting.  (which was here 1 tax year)

that same family where both made 50k are not paying more, they already were under Harpers schemes.

 

This same report came out about income tax splitting, where so many are paying less taxes - except a single mom or dad or any partners making the same money ect ect ect

 

How about getting a better break down lets start with Single Moms making xxK a year? 

How about Family with not kids?

How about a single person making 60k a year?

Ya I can make a list too  

 

 

Not sure how FRASER gets a hold of private income tax statements - but lets take the twisted percentiles numbers as  fact.

 

 

Answer to your question is GOLF - I guess I am in the low percentile that is paying less - lucky me

 

Edited September 26, 2017 by 1trailmaker

[ArcticCrusher]

6 minutes ago, 1trailmaker said:

  ya lets just work with the percentile that will make our claims seem true said the Conservative ONEWAY based institute

I have no doubt a family member making 100k with a partner making nothing paid less in the one year of income splitting.  (which was here 1 tax year)

that same family where both made 50k are not paying more, they already were under Harpers schemes.

 

This same report came out about income tax splitting, where so many are paying less taxes - except a single mom or dad or any partners making the same money ect ect ect

 

How about getting a better break down lets start with Single Moms making xxK a year? 

How about Family with not kids?

How about a single person making 60k a year?

Ya I can make a list too  

 

 

Not sure how FRASER gets a hold of private income tax statements - but lets take the twisted percentiles numbers as  fact.

 

 

Answer to your question is GOLF - I guess I am in the low percentile that is paying less - lucky me

 

 

This is who they looked at, a typical Canadian couple.  So you are disputing the numbers?

 

 

Quote

Lammam’s report analyzed income taxes for 3.88 million Canadian couples with at least one child. The families were broken into five categories. Eighty-one per cent of those earning in the middle income bracket, between $77,000 and $107,000 annually, are paying higher income taxes after the recent changes (an average of $840 per year more). Of the second-lowest quintile, earning between roughly $51,000 and $77,000, 69 per cent are paying higher overall income taxes ($382 higher per year). The highest quintile, earning over $150,000, saw just 51 per cent pay higher income taxes, or $1,151 higher per year. 

 

[1trailmaker]

15 minutes ago, ArcticCrusher said:

 

This is who they looked at, a typical Canadian couple.  So you are disputing the numbers?

 

 

 

I can dispute the brackets and get different numbers YES

notice the low end is 50k?  why? because it would throw the twisted numbers off.

 

Dude percent game is played well here

[ArcticCrusher]

13 minutes ago, 1trailmaker said:

I can dispute the brackets and get different numbers YES

notice the low end is 50k?  why? because it would throw the twisted numbers off.

 

Dude percent game is played well here

Cause its the low end of middle class for couples.  Being single doesn't help.

 

They purposely left out the welfare mamma's with 5 kids cause that would skew the numbers.

Edited September 26, 2017 by ArcticCrusher

[The Rocket]

Ya - we don't pay enough!

Only 9.4% of taxpayers make $100K or more and collectively pay 73.1% of ALL FEDERAL INCOME TAX.

 

HIGH-INCOME CANADIANS PAY FAIR SHARE OF TAX: REPORT

Staff, with files from The Canadian Press / September 25, 2017

Two new reports offer insight on Canadian taxpayers, as tax fairness takes centre stage in the wake of Finance’s proposed tax reforms for businesses and incorporated professionals.Read: How Finance’s tax proposals will squeeze biz owners

 

A study from the Canadian Taxpayers Federation, which uses data from 2014, finds that people who make more than $100,000 account for just 8.4% of taxpayers but pay 52% of the total tax bill. And those with incomes of $250,000 or higher represented 1% of all tax filers in 2014, and paid 21.1% of all federal income tax.

“Prime Minister Justin Trudeau recently claimed that the middle class pay too much in taxes and the wealthiest don’t pay enough,” says study author Mark Milke, in a release. He’s referring to comments made by Trudeau earlier this month after a caucus meeting in Kelowna, B.C.

“The middle class could always use a tax break. But it is false to say higher-income Canadians do not pay their fair share,” says Milke.

The Canadian Centre for Policy Alternatives says just 0.7% of Canadian families are going to be impacted by the government proposal to not allow businesses to sprinkle income to other family members.

Read: How proposed tax changes target income sprinkling

Prime Minister Justin Trudeau says the government is figuring out how to ensure the proposed small business tax changes will make the tax code fair without stifling growth for small businesses and startups.

The Liberals have been saying for weeks the proposals circulated in a discussion paper by Finance Minister Bill Morneau in July were meant for discussion, and the final legislation will take into account feedback from Canadians.

[The Rocket]

4 hours ago, 1trailmaker said:

I can dispute the brackets and get different numbers YES

notice the low end is 50k?  why? because it would throw the twisted numbers off.

 

Dude percent game is played well here

With the pending $15 minimum wage - someone working for Min wage in Ontario will make over $30K a year.  So $30K is the ENTRY point to the workforce. 

[1trailmaker]

4 hours ago, ArcticCrusher said:

Cause its the low end of middle class for couples.  Being single doesn't help.

 

They purposely left out the welfare mamma's with 5 kids cause that would skew the numbers.

left out single mom making 49k who pays less tax and receives way more today than yesterday

Notice they only compared it to last year of Harper when  he added income splitting -

Lets agree they didn't just say 80% of workers pay more, they didn't give that number for a reason ONEWAY

[1trailmaker]

1 hour ago, The Rocket said:

Ya - we don't pay enough!

Only 9.4% of taxpayers make $100K or more and collectively pay 73.1% of ALL FEDERAL INCOME TAX.

 

HIGH-INCOME CANADIANS PAY FAIR SHARE OF TAX: REPORT

Staff, with files from The Canadian Press / September 25, 2017

Two new reports offer insight on Canadian taxpayers, as tax fairness takes centre stage in the wake of Finance’s proposed tax reforms for businesses and incorporated professionals.Read: How Finance’s tax proposals will squeeze biz owners

 

A study from the Canadian Taxpayers Federation, which uses data from 2014, finds that people who make more than $100,000 account for just 8.4% of taxpayers but pay 52% of the total tax bill. And those with incomes of $250,000 or higher represented 1% of all tax filers in 2014, and paid 21.1% of all federal income tax.

“Prime Minister Justin Trudeau recently claimed that the middle class pay too much in taxes and the wealthiest don’t pay enough,” says study author Mark Milke, in a release. He’s referring to comments made by Trudeau earlier this month after a caucus meeting in Kelowna, B.C.

“The middle class could always use a tax break. But it is false to say higher-income Canadians do not pay their fair share,” says Milke.

The Canadian Centre for Policy Alternatives says just 0.7% of Canadian families are going to be impacted by the government proposal to not allow businesses to sprinkle income to other family members.

Read: How proposed tax changes target income sprinkling

Prime Minister Justin Trudeau says the government is figuring out how to ensure the proposed small business tax changes will make the tax code fair without stifling growth for small businesses and startups.

The Liberals have been saying for weeks the proposals circulated in a discussion paper by Finance Minister Bill Morneau in July were meant for discussion, and the final legislation will take into account feedback from Canadians.

There is no doubt we pay too much to the feds today and yesterday - when I brought this up under  Harper you all disagreed

 

You should be taxed extra just for being a ONEWAY nuisance

 

 

A recent U.S Congressional Budget Office study found that Canadian corporations, on average, paid an effective tax rate of 8.5 per cent — a lot lower than the statutory combined federal and provincial corporate tax rate of 26 per cent.

 

Every year, the richest 10 per cent get tax breaks of almost $58 billion. Those breaks have an impact on our capacity to deliver the services that make Canada a great place to live: health care, child care and education.

 

 

RR if we are going to protect these huge money earners, you and I will be the ones to pay the bills - take your pick

 

 

[1trailmaker]

1 hour ago, The Rocket said:

With the pending $15 minimum wage - someone working for Min wage in Ontario will make over $30K a year.  So $30K is the ENTRY point to the workforce. 

I agree wages need to go up

same goes for the 100k club you guys drool over, it is worthless by todays standards

[ArcticCrusher]

35 minutes ago, 1trailmaker said:

left out single mom making 49k who pays less tax and receives way more today than yesterday

Notice they only compared it to last year of Harper when  he added income splitting -

Lets agree they didn't just say 80% of workers pay more, they didn't give that number for a reason ONEWAY

Its obvious taxes did not go down for 90% of Canadians.

22 minutes ago, 1trailmaker said:

There is no doubt we pay too much to the feds today and yesterday - when I brought this up under  Harper you all disagreed

 

You should be taxed extra just for being a ONEWAY nuisance

 

 

A recent U.S Congressional Budget Office study found that Canadian corporations, on average, paid an effective tax rate of 8.5 per cent — a lot lower than the statutory combined federal and provincial corporate tax rate of 26 per cent.

 

Every year, the richest 10 per cent get tax breaks of almost $58 billion. Those breaks have an impact on our capacity to deliver the services that make Canada a great place to live: health care, child care and education.

 

 

RR if we are going to protect these huge money earners, you and I will be the ones to pay the bills - take your pick

 

 

On your effective tax rate.

Quote

c. The effective corporate tax rate is the percentage of income from a marginal investment—that is, an investment that pays just enough to make the investment worthwhile—that must be paid in corporate income taxes.

I would like to know how a small corp can pay less than 15% on 100K they wish to retain?   Now it won't be worth it.

 

[The Rocket]

1 hour ago, 1trailmaker said:

There is no doubt we pay too much to the feds today and yesterday - when I brought this up under  Harper you all disagreed

 

You should be taxed extra just for being a ONEWAY nuisance

 

 

A recent U.S Congressional Budget Office study found that Canadian corporations, on average, paid an effective tax rate of 8.5 per cent — a lot lower than the statutory combined federal and provincial corporate tax rate of 26 per cent.

 

Every year, the richest 10 per cent get tax breaks of almost $58 billion. Those breaks have an impact on our capacity to deliver the services that make Canada a great place to live: health care, child care and education.

 

 

RR if we are going to protect these huge money earners, you and I will be the ones to pay the bills - take your pick

 

 

Tax the "rich" that is the answer to all your problems.  

Then out of the other side of you mouth you say the government employees making $100k a year + need to make more. 

You're a fool. 

[1trailmaker]

1 minute ago, The Rocket said:

Tax the "rich" that is the answer to all your problems.  

Then out of the other side of you mouth you say the government employees making $100k a year + need to make more. 

You're a fool. 

YOU SHOULD BE TAXED MORE IS WHAT i SAID

second I said the 100k list is worthless, never once asked for more money - I did say all wages need to go up

[ArcticCrusher]

10 minutes ago, 1trailmaker said:

YOU SHOULD BE TAXED MORE IS WHAT i SAID

second I said the 100k list is worthless, never once asked for more money - I did say all wages need to go up

The only growth the Trudeau tax changes are going to make is to fuel the underground economy.

[1trailmaker]

5 minutes ago, ArcticCrusher said:

The only growth the Trudeau tax changes are going to make is to fuel the underground economy.

more for everyone it seems like a win

[ArcticCrusher]

24 minutes ago, 1trailmaker said:

more for everyone it seems like a win

Umm, no its not.

[1trailmaker]

good cbc National tonight on illegal border crossings

[ArcticCrusher]

Again most middle class are paying more taxes with Truetard.

 

http://business.financialpost.com/opinion/what-middle-class-tax-cut-your-family-is-probably-paying-more-under-trudeau#comments-area