Flaherty’s Christmas List — all Mixed Up

Following recent dismal reports on rising unemployment, stagnant GDP growth, and a deteriorating economic outlook, we can only hope federal Finance minister Jim Flaherty will provide some Christmas cheer with changes “to better promote job creation and economic growth” (as he’s  asked for advice on through his pre-budget consultations). Unfortunately, Santa Flaherty seems to…
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Taxing Capital Gains

The following also appears in The Globe and Mail’s Economy Lab: Earlier this week, Kevin Milligan questioned proposals “to increase the tax on capital gains.” Currently, Canadian income tax applies to only 50 per cent of capital gains. Milligan argues that light personal taxation is justified for income that has…
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Giving Thanks for Neil Reynolds

I rarely praise Neil Reynolds, but today’s column is a must-read. The point is that taxing large inheritances should appeal not only to those of us concerned about highly unequal outcomes, but also to those simply concerned about equality of opportunity. It may or may not be possible to justify…
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C. D. Howe Shills for Oil Companies

The C. D. Howe Institute is out this morning with a press release entitled, “Raising Oil and Gas Royalties Does Not Benefit Provincial Coffers.” A complete analysis of the accompanying 30-page paper – featuring many graphs, tables and regressions – will take time. But here is my initial take. Background…
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