Opinion
UCP Tax Cut Hits the Target but Misses the Mark
Opinion by Cory G. Litzenberger
Well for fear of being lynched, let me talk about how I think the UCP’s Job Creation Tax Cut may be (partially) incorrect.
While I applaud politicians for laying out their plans in advance of an election, my fear is that the plan is too slow in implementation and cuts too far.
I think a tax cut needs to be moderate and quick – not slow and deep.
Here are my thoughts for various tax changes we need to do in Alberta:
General Corporate Income Tax Rate:
Instead of cutting by 1% per year over 4 years, bring it back by 2% to 10% from 12% in the first year and keep it there.
By delaying the cut as the UCP currently proposes, it could reduce the impact it will have on the economy as the change to the bottom line will not be impacted enough for a corporation to make larger investment until year two or three of the plan.
Quicker action by government will result in quicker action by business, resulting in quicker action in the economy and job creation.
10% also still makes us the lowest jurisdiction in Canada.
Personal Income Tax change to 3 brackets:
– 8% for first $50k
– 10% for the next $100k
– 12% for over $150k
This reduction from 10% on the first $50,000 saves roughly $600 in personal income tax (after factoring in the basic personal tax credit) for every individual making more than $50,000 a year.
It also saves 2% for those making under $50,000 currently.
This is an important cut in order to reward people that call Alberta home, as you will see below.
A rich person paying 12% in Alberta on their personal income is better than them paying 0% because they live somewhere else.
Harmonized Sales Tax (HST) 5%
Yes, I think we need to remove the inflationary and regressive carbon tax as it is way too high of a burden and causes a ripple effect in inflationary pricing how it was implemented.
However, I suggest we implement a 5% HST (which is a flow-through for businesses and does not have the same impact on pricing).
Now, hear me out before you break out the yellow vest!
Currently, anyone visiting our province as either a tourist or a temporary worker from another province are using our infrastructure like roads, water, and yes, even hospital emergency rooms.
When these non-Alberta residents file their personal tax returns, they file it based on their home province of residence as of December 31. Since most of them don’t have a permanent residence in Alberta, this results is them paying income taxes to other provinces, while using our infrastructure for free.
Other provincial residents not paying any taxes in Alberta while here unfairly puts the cost on all of us that live here.
If we implemented an HST similar to the GST program, low income households would still receive credit back (just like GST credit) to offset most (if not all) of any HST they pay.
The $600 in income tax savings we mentioned above for everyone else, is equivalent to $12,000 of taxable supplies consumed ($24,000 in a double income household where they each make over $50,000 of income).
Don’t forget that basic grocery and shelter do not have sales taxes, and if Andrew Scheer gets elected, neither will basic home heating.(https://twitter.com/andrewscheer/status/854364648388182016)
This income tax reduction of $600 to $1,200 would offset much of the sales tax you would pay, but would now start to charge non-Alberta resident visitors and workers.
The reason for an HST instead of a PST is that currently, an HST is required to be charged by all GST registrants across Canada. If you are a GST registrant, you are automatically an HST registrant.
For example, in my office in Red Deer, I have to charge my Ontario customers HST and send it in to the government even though my business is in Alberta.
An HST could reduce the potential for tax leakage out of our province by funneling it back to Alberta because of other retailers in other provinces requiring to charge it on things purchased outside of, or shipped to, Alberta.
Results
– a competitive corporate tax rate to attract investment and do it quicker than the original UCP plan;
– low personal income tax to attract wealthy individuals (and their tax residency) back to Alberta to make it their place of residence, again, quickly;
– removal of the inflationary carbon tax;
– insertion of a relatively low cost HST so that we can get back some of that transfer payment money from the residents of other provinces.
In Summary
– Reduce Corporate moderately and quickly.
– Reduce Individual moderately and quickly.
– Remove Carbon tax.
– Implement an HST.
I know that the slight mention of a sales tax in Alberta makes the hair on the back of your neck stand straight up, and for many conservative politicians, they would resign before suggesting it. However, even as a fiscal-conservative tax accountant like myself, I believe that if it is implemented properly with tax reductions elsewhere, it can add to the bottom line for the province.
I also think it can do so without being a burden to those that live here by taxing those that don’t.
———
Cory G. Litzenberger, CPA, CMA, CFP, C.Mgr is the President & Founder of CGL Strategic Business & Tax Advisors; you can find out more about Cory’s biography at http://www.CGLtax.ca/Litzenberger-Cory.html
Peter Doocy asked directly, “What happened to the Epstein client list that the Attorney General said she had on her desk?” Here’s how Leavitt tried to explain it.
The Epstein client list was supposed to be SITTING on Pam Bondi’s desk for review.
But months later, the DOJ says no such list even exists.
Karoline Leavitt was just asked why there was such a reversal in so little time.
Her responses today are raising eyebrows.
On February 21st, Pam Bondi told the world the Epstein client list was “sitting on [her] desk right now to review,” explaining it was part of a directive ordered by President Trump.
Shortly afterward, she and Kash Patel pledged to end the Epstein cover-up, promising to fully disclose the Epstein files to the public, hold accountable any government officials who withheld key evidence, and investigate why critical documents had been hidden in the first place.
But ever since late February, it seems the cover-up wasn’t exposed but buried even deeper by those who promised transparency.
First, they handed out the so-called “Epstein files” to influencers like golden Willy Wanka tickets, only for everyone to discover that almost all of the contents inside were already public and contained no new revelations.
Fast-forward to May, and suddenly Kash Patel and Dan Bongino are declaring firmly that Epstein killed himself.
“I’ve seen the whole file. He killed himself,” Bongino stated bluntly to Fox News’s Maria Bartiromo.
Today, the Trump-appointed DOJ and FBI released a new report that’s turning heads and raising plenty of questions.
They concluded that Epstein had no clients, didn’t blackmail anyone, and definitely killed himself.
FBI Concludes Epstein Had No Clients, Didn’t Blackmail Anyone, and Definitely Killed Himself
This article originally appeared on Infowars and was republished with permission.
They also released surveillance footage and claimed it showed no one entered Epstein’s cell area, supporting the suicide ruling.
But people aren’t convinced. Some allege the video cuts off, with a minute of footage missing between 11:59 PM and midnight.
Monday, White House Press Secretary Karoline Leavitt responded to questions about the Epstein client list in light of these new DOJ and FBI statements.
A reporter asked, “Karoline, the DOJ and FBI have now concluded there was no Jeffrey Epstein client list. What do you tell MAGA supporters who say they want anyone involved in Epstein’s alleged crimes held accountable?”
Leavitt replied, “This administration wants anyone who has ever committed a crime to be accountable, and I would argue this administration has done more to lock up bad guys than certainly the previous administration.”
She continued, “The Trump administration is committed to truth and transparency. That’s why the Attorney General and the FBI Director pledged, at the president’s direction, to do an exhaustive review of all the files related to Jeffrey Epstein’s crimes and his death. They put out a memo in conclusion of that review.”
“There was material they did not release because frankly it was incredibly graphic and contained child pornography, which is not something that is appropriate for public consumption,” she added.
“But they committed to an exhaustive investigation. That’s what they did and they provided the results of that.”
“That’s transparency,” Leavitt said.
Leavitt was also pressed about Attorney General Pam Bondi’s comments in February when she claimed she had the Epstein list “on [her] desk.”
Peter Doocy asked, “Okay, so the FBI looks at the circumstances surrounding the death of Jeffrey Epstein. According to the report, this systematic review revealed no incriminating client list. So what happened to the Epstein client list that the Attorney General said she had on her desk?”
Leavitt responded, “I think if you go back and look at what the Attorney General said in that interview, which was on your network, on Fox News—”
Doocy pushed back, “I have the quote. John Roberts said: ‘DOJ may release the list of Jeffrey Epstein’s clients, will that really happen?’ And she said, ‘It’s sitting on my desk right now to review.’”
Leavitt explained, “Yes. She was saying the entirety of all of the paperwork, all of the paper in relation to Jeffrey Epstein’s crimes, that’s what the Attorney General was referring to. And I will let her speak for that.”
“But when it comes to the FBI and the Department of Justice, they are more than committed to ensuring that bad people are put behind bars.”
So, after months of patiently waiting, the American people get a nothing burger that simply repeats the same old claims we heard under Bill Barr.
Even worse, it’s purported that this is what “transparency” and “accountability” look like.
The story went from saying the Epstein client list was “on my desk” to “actually, there is no client list.”
And the newly released video footage raises questions and, in the age of AI, proves nothing.
If there’s really nothing to hide, why does it still feel like they’re hiding everything?
And most importantly—who’s still being protected?
Thanks for reading to the end. I hope you found this timeline of events and recap helpful.
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This past week has seen (some) Canadians celebrating their heritage— now that Mike Myers has officially reinterpreted Canadian culture as a hockey sweater and Mr. Dressup. This quick-change was so popular that Canadian voters even forgot an entire decade of Justin Trudeau.
In the United States, the people who elected Donald Trump– and not Andrew Coyne– to run their nation celebrated Independence Day with stirring renditions off The Star Spangled Banner, although few could surpass the brilliant performance of the song by the late Whitney Houston at the 1991 Super Bowl.
The CDN equivalent is some flavour of the month changing the words to O Canada at the Grey Cup game. Canada’s national anthem has always been open to interpretation by people who may or may not have Canada in their hearts. At the 2023 NBA All Star Game Canadian chanteuse Jully Black became the latest singer to attempt a manicure to the English lyrics of O Canada, penned for the 1880 Saint-Jean-Baptiste Day ceremony ( Calixa Lavallée composed the music, after which words were written by the poet and judge Sir Adolphe-Basile Routhier. The English lyrics have “evolved” over the years, just like the dress code for the CDN PM..)
Black amended the first line from “our home and native land” to our home ON native land”. Because something-something. But this creative license is nothing new. Unlike Chris Stapleton, Marvin Gaye or Whitney Houston with the Star Spangled Banner, interpreters of O Canada have seen fit to amend the lyrics to their sensibilities. Roger Doucet, famed anthem singer of the Montreal Canadiens in the 1970-80s, tried to add the words “we stand on guard for truth and liberty” in place of the first “we stand on guard for thee”.
In 1990, having nothing better to do, Toronto City Council voted 12 to 7 in favour of recommending that the phrase “our home and native land” be changed to “our home and cherished land” and that “in all thy sons command” be partly reverted to “in all of us command”. (The latter was officially adapted.)
While those attempts had mixed outcomes it appears it’s just a matter of time till Ms. Black’s class-conscious culling of the words is accepted. Being generous we here at IDLM thought we’d short-circuit piecemeal attempts to create a throughly Woke version of the anthem that would last till the latest fad come along. Herewith our 2023 definitive O Canada that even— maybe only— Justin Trudeau could love:
“O Canada” (Ignores the French fact in our culture) Change to “Eau Canada”
“Our home on native land” (ignores indigenous land claims) Change to “Get off our land, settlers”
“True patriot love in all of us commands” (Only true patriot love? There were officially 78 kinds of relationships in Trudeaupia. And commanding love?) Change to “Love the one you’re with”.
“With glowing hearts we see thee rise” (rise suggests triumph of white triumphalist dogma) Change to “Non judgementally we oppose the crushing impacts of Euro-based autocracy”
“The true north strong and free” (How can anyone be strong or free when we support America’s killing fields?) Change to “Heteronormative thinking must be stamped out at our borders. If we even have borders anymore.”
“From far and wide” (Body shaming) Change to “Obesity is a disease that is not helped by putting it in the national anthem.”
“O Canada” (biased against A, B, AB blood types) change to “Science Must Be Believed”
“We stand on guard for thee” (Spreads hate against the non ableist community) Change to “Please remain seated.”
“God keep our land” (God? God? What is this, the Reformation) “Change to “It’s your thing”
”Glorious and free” (Glorious harkens to the bourgeois subjugation of Indigenous thought processes by white Christian priests) Change to “A genocidal state if there ever was one”.
“O Canada we stand on guard for thee/
O Canada we stand on guard for thee” The denial of trans rights is used twice here to emphasize the intolerable burdens faced by people of the LGBTQ2R community as they seek respect and compensation for the evils of the founding oppressors.) Change to “Eau Canada, after 6.5 hours of intensive lectures on the gender, race and dissociative application of class war on your citizens you may someday come to understand that this song is a manifestation of your bigotry and exploitation of minorities— and why rhyming lines like “thee and free” is the work of the devil or J.K. Rowling, whomever comes to mind first.”
There. That wasn’t so tough, was it? Flows trippingly off the tongue like Mark Carney refusing a special inquiry into China buying the electoral process. Or perhaps we should simply accept a literal translation of the original French lyrics:
“O Canada!
Land of our ancestors
Glorious deeds circle your brow
For your arm knows how to wield the sword
Your arm knows how to carry the cross;
Your history is an epic
Of brilliant deeds
And your valour steeped in faith
Will protect our homes and our rights.”
Yikes. That’s downright fascistic. But it’s Quebec, and we have to allow them their peccadilloes. So circle your brow with glorious deeds, grab a cross and a sword and valour steeped in faith. And remember we must be adaptable in the new era.
Unless it’s Alberta using the adapting to fuel its CO2-belching machines. In which case it’s man the battlements and follow Mike Myers into the fight.
Bruce Dowbiggin @dowbboy is the editor of Not The Public Broadcaster A two-time winner of the Gemini Award as Canada’s top television sports broadcaster, his new book Deal With It: The Trades That Stunned The NHL And Changed hockey is now available on Amazon. Inexact Science: The Six Most Compelling Draft Years In NHL History, his previous book with his son Evan, was voted the seventh-best professional hockey book of all time by bookauthority.org . His 2004 book Money Players was voted sixth best on the same list, and is available via brucedowbigginbooks.ca.
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