Revealing Conservative Lies About Corporate Tax Cuts
The Conservative Government of Stephen Harper has reduced the federal income tax rates of Canadian corporations to the point where they are among the lowest in the world and intends to continue reducing them even further. He uses the catch all slogan of “keeping Canada competitive” as his excuse for this outright theft of your lifestyle expectations which he then transfers into the offshore bank accounts of his friends in the corporate elite.
The general corporate income tax rate has been falling since 1960 when it was arguably too high to be competitive on the international market. On Jan. 1, 2011 it fell from 18% to 16.5% and is scheduled to fall to 15% on Jan. 1, 2012.
PricewaterhouseCoopers expects the ongoing federal reductions to corporate tax rates to be maintained as planned in Tuesday’s budget.
Federal Corporate Income Tax Rates, Selected Years, %
Corporate tax rate on general income
Corporate tax rate on manufacturing and processing income
Federal surtax rate
1960
41
41
0
1970
40
40
1.5
1980
36
30
1.8
1990
28
24.5
0.84
2000
28
21
1.12
2001
27
21
1.12
2002
25
21
1.12
2003
23
21
1.12
2004
21
21
1.12
2005
21
21
1.12
2006
21
21
1.12
2007
21
21
1.12
2008
20.5
20.5
0
2009
20
20
0
2010
18
18
0
2011
16.5
16.5
0
2012
15
15
0
When compared to personal tax rates, the scheduled reduction in corporate taxes to 15% will result in corporations being taxed at the same rate as the lowest level of personal income tax....

Comments posted by ronzig@rogers.com