Roundup: Scaling back on tax promises

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With a boatload of spending promises but almost no details in how he plans to pay for the, Thomas Mulcair appears to be scaling back on how much of that shortfall he plans to make up by raising corporate income taxes because as he’s quickly learning, that’s not going to raise all that much money. He also likes to use the phrase “making different choices like cancelling income splitting,” but that’s also maybe a couple of billion, which isn’t going to pay for a whole lot. It also seems to me that by pushing back a number of promises, like the childcare spaces, to full implementation some eight years down the road, it seems to indicate a theory that economic growth is on the way, and soon there will be plenty to fill the coffers. That ignores the fact that a) the projected surpluses depend on continued austerity, which the NDP keep promising to reverse, and b) economists are starting to warn that this slow growth may be the new normal and not just a hangover from the last financial crisis. With no plans to create economic growth coming from any of the parties, it’s going to be uncomfortable trying to come up with promises for major spending plans while maintaining balanced budgets, like they also plan. (And yes, the Liberals still have their own costing figures to produce as well). What the corporate tax piece doesn’t mention are the NDP plans to tax stock options, which economist Kevin Milligan has questions about:

https://twitter.com/kevinmilligan/status/635570314882125824

https://twitter.com/kevinmilligan/status/635570827103047680

https://twitter.com/kevinmilligan/status/635571426313945088

https://twitter.com/kevinmilligan/status/635571982348644352

https://twitter.com/kevinmilligan/status/635581074584682497

On the campaign:

  • Stephen Harper announced yet another boutique tax credit, this time for membership dues of service organizations. Also, he’s not changing his limited questions policy.
  • Justin Trudeau sent a letter to Quebec premier Philippe Couillard outlining his desire to be a “true partner” of the provinces.
  • The Liberals are expected to announce a major policy around veterans’ benefits today.
  • Here’s a recap of last week on the campaign.

Good reads:

  • The Ontario government disputes Mulcair’s claim that they support his childcare policy because they don’t have enough information about how it will be funded.
  • Apparently we rank fairly low among OECD countries for public pensions.
  • Here’s a video comparison of the three parties’ childcare benefit promises.
  • Here’s a fact-check of Trudeau’s flexible work hours announcement (spoiler: It won’t amount to much).
  • Christopher Curtis offers a portrait of Trudeau on the campaign trail.
  • Aaron Wherry muses about the issues of control and how that erupted into the ClusterDuff mess.

Odds and ends:

As part of their announcement to protect BC salmon, the Conservatives used a picture of an Atlantic salmon. *slow clap*

Here’s a bit of Ottawa history related to our first general election.

Scott Feschuk gives us his take on the election to date.