IF Lowering Corporate Tax is so bad for the economy...

[betsy]

If lowering the Corporate Tax is so bad for the economy, then how come Ontario Liberal Mcguinty supports it in Ontario?

The Ontario NDP have been highlighting the differing positions of the Ontario Liberals and the federal Liberals on corporate tax cuts. In the 2009 Ontario budget, the McGuinty government committed to incrementally lowering the provincial corporate tax rate from 14 per cent to 10 per cent by July 1, 2013. Last week in Question Period, Ontario NDP leader Andrea Horwath read a quote denouncing corporate tax cuts by Ontario Premier Dalton McGuinty’s brother, David McGuinty, Liberal MP for Ottawa South.

The NDP argue that the province doesn’t need a corporate tax cut, because in 2008 Ontario’s combined federal-provincial corporate tax rate was already lower than all 50 U.S. states. According to government publications, Ontario’s combined corporate tax rate was indeed lower than the all U.S. states in 2008.

http://www.yourvote2011.ca/?p=1477

The Provincial NDP are saying the same thing as their big brothers. But Provincial Liberals definitely do not agree with Ignatieff's policy.

[WIP]

If lowering the Corporate Tax is so bad for the economy, then how come Ontario Liberal Mcguinty supports it in Ontario?

So, that makes corporate tax cuts right, as long as there is a Liberal politician supporting them? Have you considered that multinational corporations have been blackmailing entire nations in the same way they do with smaller jurisdictions like provinces and cities, with their threats of moving somewhere else in search of lower taxes, cheaper labour, and special perks like sales tax revenues? It is time to stop the race to the bottom that so called "free trade" and reducing corporate taxes and investment income taxes have helped to create.

This story that Harper is trying to advance about lower corporate taxes creating jobs might be plausible if it were not for the American example of the failure of supply side economics. Now Harper wants to give us the same joys! Lower corporate taxes will not be used for capital investment or creating jobs here. They will enrich the earnings of shareholders, and if any new jobs are created, they will be overseas! The corporate tax rates should be raised rather than lowered.

[Bryan]

Provincial NDP in Manitoba most definitely believes in lower corporate taxes too.

[msj]

A better question to ask is: if reducing business taxes is so good for the economy then why did Harper raise income taxes on business trusts from 0% to 15%?

[nittanylionstorm07]

Raising taxes nationally is not the same as raising taxes provincially or locally.

If you cancel free trade agreements and raise taxes federally, it's a lot more difficult for corporations to move as compared to raising taxes provincially where it's a lot easier to just move over to the next province.

[M.Dancer]

Raising taxes nationally is not the same as raising taxes provincially or locally.

If you cancel free trade agreements and raise taxes federally, it's a lot more difficult for corporations to move as compared to raising taxes provincially where it's a lot easier to just move over to the next province.

Did you know there are far more trade restrictions within Canada than there are to trade outside of Canada?

Just saying....

[Posc Student]

It's not really that Ignatieff does not support it, he voted for it several years ago. What he has said is that Canada already has low corporate taxes compared to other G8 countries and that the money could be better used. He believes that when the economy is good you cut taxes and when it's bad you keep them the same.

I don't know how I feel about his whole theory but I think it's quite clear.