Wednesday, September 12, 2018

Don't Let America Drag Us Into Its Cesspool In the Name of Competitiveness

A disturbing report from Price Waterhouse Coopers prepared on behalf of the Business Council of Canada (the usual suspects) warns that the Trump tax cuts could put 635-thousand Canadian jobs at risk and cause a 4.9 per cent drop in Canada's GDP.

The dodgy narrative is that, unless Canada follows suit, cutting taxes for corporations and the wealthy, it's economic Armageddon for Canada.

It's time to tell PwC and the Business Council to shove it straight up their fat arses. That vaunted tax cut they clearly want Canada to emulate is adding somewhere between 1 to 1.5-trillion dollars in deficit that working class Americans are going to have to shoulder.

If the only way to protect Canada's deeply integrated economy is by waging class warfare on the Canadian people as the United States has done then it's time we became less integrated and quickly. If we have to take a hit so be it but let's get something worthwhile out of it for the sacrifice starting with more independence and a whole lot less Trump toadyism.

It's time to see the big accounting houses, PwC, KPMG, etc. and their corporate clients for what they are - shake down artists.


Jay Farquharson said...

12,800 refugee kids now imprisioned in US Concentration Camps, thousands abused, 568 still missing, dozens dead.

Anonymous said...

According to KPMG, America's corporate tax rate was 40% before Trump's corporate tax restructuring, repatriating and cutting. Now it's 27%.

What is Canada's rate after 30 years of continuous corporate tax-cutting at both a federal and provincial level? 26.5%

It's interesting how the Fake News Media can push the idea we have to lower corporate taxes to remain competitive because no one will even bother to look up the numbers.

They don't have to demand the people believe 2 + 2 = 5. Gullible people just eat it right up along with whatever else is put in their prole-feed.

Bill Hicks said...

I'm an American who is old enough to remember the 1970s, the last decade before the election of Reagan and the beginning of America's rapid descent into godawful neoliberalism that has literally turned this country into a hellhole of hidden poverty and hideous exurbia. And since the beginning of the ultra-neoliberal Bush/Obama/Trump administration, the excess cash possessed by the wealthy from their ill gotten gains has been allowed to flow back into the city centers and destroy everything that was interesting or unique about them in the name of regentrification.

Don't do it, Canada.

Clarke said...

This report is completely bogus. The US tax cuts have not resulted in a wave of new business investment, and the benefits are vastly slanted towards the top one percent who are not necessarily dumping it into consumer spending in the US. US unemployment is low, but wages remain flat. There is no hard evidence of this, but the authors of this report have been arguing for tax cuts since the lobby group was formed in the 1970s. There is little evidence for the efficacy of tax cuts for doing much of anything aside from reducing government revenues.

Trailblazer said...

The 1% are becoming richer and KPMG love it.
With extreme wealth comes the ability to control the narrative.
We really do live in dangerous times.