Are the proposed Liberal tax changes a tax on the rich or an attack on small business?
Sunday on Cross Country Checkup: Taxing the rich.
More from this episode:
Which, of course, we knew was was coming. Economic equality was one of the main planks of Justin Trudeau's election campaign. He promised his government would make sure poorer Canadians share in the wealth.
So when Finance Minister Bill Morneau introduced his proposed changes to the tax system this summer, it was all about fairness, he said. The Liberal government says it's time to crack down on tax strategies that allow wealthy Canadians to use private corporations to pay lower tax rates than middle class Canadians. The reforms would mean the wealthy could no longer use income sprinkling, passive investments and business capital gains breaks to reduce income tax.
Cue the howls of outrage, but not from folks we generally think of as very rich. People like doctors and farmers are fearful of losing various tax breaks. Small-businesses owners are angry too, saying the proposed changes will hurt middle-class business owners and their families the most.
What do you think? Some say the Liberals have demonized the wealthy ignited a class war. Others say its time the rich pay their fair share. Are these tax reforms the right way to do it? Do you think the tax changes will stifle entrepreneurial spirit, maybe push professionals and job creators to flee the country to more tax-friendly climes? Or are those crying "tax chaos" simply trying to preserve the perks that keep them comfy?
With breaking news from the NDP leadership race, we will also be taking your thoughts on new leader Jagmeet Singh and will be providing news updates on the Edmonton attack.
GUESTS
Corinne Pohlmann
Senior vice-president of national affairs for the Canadian Federation of Independent Business
Dennis Howlett
Executive Director of Canadians for Tax Fairness
John Ivison
Political columnist for the National Post, based in Ottawa
Paul Boothe
Fellow of the Institute for Competitiveness and Prosperity at the Ivey School for Business
What we're reading
CBC.ca
- Finance Minister Bill Morneau gets a 'tongue lashing' on tax reforms
- Premiers want federal tax proposals on agenda at first ministers' meeting
- In tax fight, it's Scheer's mechanic vs. Trudeau's doctor
- Small business owners say they are unfairly targeted by proposed tax changes
- Backlash against tax changes shows how hard it is to promote equality: Don Pittis
- 4 tweaks Ottawa could make to settle nerves around proposed tax changes
- 'It could be catastrophic': Morneau draws criticism from business, concerns from N.S. premier
- Come talk to us about tax changes, Yukon businesses ask Bill Morneau
- N.B. doctors ready to leave if new tax measures are implemented: survey
- Female physicians who finance own maternity leave fear tax hike could force them from profession
- The Current: 'A system that works for all Canadians': Finance Minister Bill Morneau defends tax plan
Globe and Mail
- Tax changes to make system fair, not stifle business growth: Trudeau
- Inside the Liberals' controversial tax changes: What's proposed, why, and what's next (subscribers only)
- Morneau's talk of 'dead money' ignites new criticism in tax debate (subscribers only)
- Federal tax proposals penalize businesses that want to transition to next generation
National Post
- With proposed Liberal reforms impacting less than 10% of small businesses, this tax revolt will fail: John Ivison
- Know the dirty little secret about taxing the rich? It doesn't work: John Ivison
Maclean's
- How the Liberals might be able to salvage their tax reform plan
- Inside Ottawa's crackdown on small business tax loopholes: The payoff is going to be less than expected
Canadian Business
National Newswatch
Toronto Star
- Bill Morneau not swayed by backlash to Ottawa's proposed tax changes
- Suggestions for Morneau's tax changes
- Trudeau's sinister stand against doctors
Tyee
- Canadians Fed Up With Anti-Tax Rhetoric, Says Reform Advocate
- Fair Tax System Down the Drain if Loopholes Aren't Closed
Canadian Medical Association Journal