In the 2021 Platform for Tax Fairness, Canadians for Tax Fairness advocates a series of policies that would bring over $90 billion dollars in revenue to the federal government, without increasing taxes on working or middle-class Canadians, allowing for increased investment in public services that yield high rates of economic and social return.
The Conservative platform is chock full of tax cuts and credits, including lots of putzy boutique ones for particular interests and bigger ones for business. These would reduce federal revenues by over $50 billion over the next five years and lead to significant real cuts to federal programs. (Read on Rabble.ca.)
With vast popular support across party lines, over $14 billion in additional revenue available, only the wealthiest individuals and corporations able to benefit from the current system, and international momentum to end the race to the bottom on tax, there's never been a better time to tackle tax havens.
The Green Party plan does a better job than many other current and past plans for tax fairness, even if many elements of their platform appear cobbled together from different sources without a strong understanding of the issues.
During the past two decades, the federal corporate income tax rate has been slashed in half. Now, corporations control almost half of all Canadian assets and two-thirds of Canadian economic activity, yet contribute less than 20% of federal tax revenue. What should we do?