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Opinion

15:45, 40 Avenue crosswalk was a half-second and a half step from a disaster for a child

Published

7 years ago

3 minute read

Tuesday June 20, 2017, approximately 3:45 pm, a crosswalk a half block from Eastview Middle School was a split second or half step away from a disaster.
Just north of the school zone, a student awaits to cross 40 Ave on the crosswalk. North bound city bus stops in the right hand lane. Oncoming southbound traffic stops and the student steps out and just as he gets to the second lane a truck goes roaring by in the passing lane. The student half ran and half flew back to the curb.
More vehicles flew by, the bus driver beeped his horn to warn the student, the driver leaned out the window and tried to slow traffic but only after several vehicles roared by before a vehicle stopped to let the young boy cross the road in a designated crosswalk.
The city has often times had a vehicle there doing the dreaded photo radar stint, and I can see why. These vehicles were doing more than 50 kmh just meters into the 50kmh zone in a crosswalk with children waiting to cross. It would be no contest who would lose between a small child trying to get home and a speeding truck or car.
What can the child do differently? Sprout wings? What can the drivers do? Slow down and think about your surroundings. A crosswalk, traffic is stopped, school zone, and pedestrians on the sidewalk may suggest something,
.Perhaps it is time to install lights at the crosswalk? Could we extend the 30 kmh zone past the crosswalk?
The problem is us, the drivers, we need to focus on our driving, not the clock or the destination, but on our driving. That child wanted to get home, perhaps he was hungry, had to use the facilities or even wanted to play a game or watch television, but he did not have tonnes of steel protecting him, or hundreds of horses helping him hurry. The drivers had the advantage and they used it.
The irony is that some of those drivers were parents picking up their children, worrying about their children’s safety. Probably rushing home to make dinner, before playing ball, or watching their favourite show. Being the danger that they try to protect their children from.
I do not think that the drivers were even aware of how close they came to injuring or killing a child. They probably just thought bus was stopped at a bus stop, the cars were stopped to drop off or pick up children.
If we can’t fix the drivers, can we install lights or do we need a footbridge to protect our children?
I do know that I will be glad to see that photo radar vehicle just north of Eastview Middle School next time.

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Prime minister’s misleading capital gains video misses the point

Published on May 19, 2024

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From the Fraser Institute

By Jake Fuss and Alex Whalen

According to a 2021 study published by the Fraser Institute, 38.4 per cent of those who paid capital gains taxes in Canada earned less than $100,000 per year, and 18.3 per cent earned less than $50,000. Yet in his video, Prime Minister Trudeau claims that his capital gains tax hike will affect only the richest “0.13 per cent of Canadians”

This week, Prime Minister Trudeau released a video about his government’s decision to increase capital gains taxes. Unfortunately, he made several misleading claims while failing to acknowledge the harmful effects this tax increase will have on a broad swath of Canadians.

Right now, individuals and businesses who sell capital assets pay taxes on 50 per cent of the gain (based on their full marginal rate). Beginning on June 25, however, the Trudeau government will increase that share to 66.7 per cent for capital gains above $250,000. People with gains above that amount will again pay their full marginal rate, but now on two-thirds of the gain.

In the video, which you can view online, the prime minister claims that this tax increase will affect only the “very richest” people in Canada and will generate significant new revenue—$20 billion, according to him—to pay for social programs. But economic research and data on capital gains taxes reveal a different picture.

For starters, it simply isn’t true that capital gains taxes only affect the wealthy. Many Canadians who incur capital gains taxes, such as small business owners, may only do so once in their lifetimes.

For example, a plumber who makes $90,000 annually may choose to sell his business for $500,000 at retirement. In that year, the plumber’s income is exaggerated because it includes the capital gain rather than only his normal income. In fact, according to a 2021 study published by the Fraser Institute, 38.4 per cent of those who paid capital gains taxes in Canada earned less than $100,000 per year, and 18.3 per cent earned less than $50,000. Yet in his video, Prime Minister Trudeau claims that his capital gains tax hike will affect only the richest “0.13 per cent of Canadians” with an “average income of $1.4 million a year.”

But this is a misleading statement. Why? Because it creates a distorted view of who will pay these capital gains taxes. Many Canadians with modest annual incomes own businesses, second homes or stocks and could end up paying these higher taxes following a onetime sale where the appreciation of their asset equals at least $250,000.

Moreover, economic research finds that capital taxes remain among the most economically damaging forms of taxation precisely because they reduce the incentive to innovate and invest. By increasing them the government will deter investment in Canada and chase away capital at a time when we badly need it. Business investment, which is crucial to boost living standards and incomes for Canadians, is collapsing in Canada. This tax hike will make a bad economic situation worse.

Finally, as noted, in the video the prime minister claims that this tax increase will generate “almost $20 billion in new revenue.” But investors do not incur capital gains taxes until they sell an asset and realize a gain. A higher capital gains tax rate gives them an incentive to hold onto their investments, perhaps until the rate is reduced after a change in government. According to economists, this “lock-in” effect can stifle economic activity. The Trudeau government likely bases its “$20 billion” number on an assumption that investors will sell their assets sooner rather than later—perhaps before June 25, to take advantage of the old inclusion rate before it disappears (although because the government has not revealed exactly how the new rate will apply that seems less likely). Of course, if revenue from the tax hike does turn out to be less than anticipated, the government will incur larger budget deficits than planned and plunge us further into debt.

Contrary to Prime Minister Trudeau’s claims, raising capital gains taxes will not improve fairness. It’s bad for investment, the economy and the living standards of Canadians.

Authors:

Jake Fuss
Director, Fiscal Studies, Fraser Institute
Alex Whalen
Associate Director, Atlantic Canada Prosperity, Fraser Institute
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“I think he’s strongly pro-death,” Carlson replied.  

“I think he’s not the only one. I think there are a lot of other people. I don’t understand what that motivation is… but I think those are some of the evils that we’re up against,” Rodgers commented.  

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“No,” Rodgers replied. 

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