Thursday, February 3, 2011

Memo to Harperville: Corporate tax cuts carry a big stink

According to a recent poll, PM Stephen Harper (an influential resident of Harperville, a community just down the road from Oilpatch) will find future corporate tax cuts a tough sell.

“Watch out Stephen Harper: Your political opponents might be on to something when it comes to corporate taxes. A new poll, taken exclusively for QMI Agency, finds that four in 10 Canadians believe that not only should the government scrap a planned round of corporate tax cuts, the government should be hiking corporate income taxes.” (Jan 31, London Free Press)


So begins a news clip from just a few days ago.

Though Harper’s ideology is embraced by 10% of those polled (only 15% of men say that companies should pay less tax; only 6% of women say the same), 43% of Canadians now believe otherwise.

Special note: 51% of those aged 45 - 54 believe that companies should pay more.

In other words, perhaps, as we age we see the wisdom of having big business contribute more to infrastructure, health care, social services, pensions, education, etc. Big business benefits from all of those things.

And guess what? More Canadians are approaching their senior years than ever before. So, the number of those opposed to lower taxes for corporation may swell. (If you’ve got a few bucks, this would be a good time to invest in Geritol).

Another Special note: 23% believe taxes are about right and 24% have no opinion.

That’s a lot of people who may shift affections or develop feelings about taxes as lifestyles are eroded by climbing household expenses while corporations are getting huge breaks. (In my city alone, taxpayers are footing a bill of over $13 million each year so that big business can get a break on water bills, development fees and what not).

I believe the big stink in Harperville is getting stinkier.

And it wasn’t me.

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A quick look at the OIL Barrel - life will get costlier, for sure.

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