https://www.msn.com/en-ca/news/world/can...ar-BBHb2tB

Quote:Prime Minister Pierre Trudeau once remarked that Canada's relationship with the United States was like sleeping next to an elephant: "No matter how friendly and even-tempered is the beast, one is affected by every twitch and grunt."

Well, forget twitches and grunts. With the biggest tax cut in decades being signed into law south of the border, the elephant is about to start doing somersaults in the bed – and if our own politicians don't take action, the Canadian economy could end up getting squashed.


Federal rate cut

The Tax Cuts and Jobs Act , which was signed into law by President Donald Trump on Friday , lowers the tax rate on high income earners and expands the child tax credit for families, among other things. But the centrepiece is the single largest business tax reduction in American history, dropping the federal rate from 35 per cent to 21 per cent beginning in 2018.

Policy wonks south of the border will debate the pros and cons of the bill, which will see taxes go down for the vast majority of Americans. But from a Canadian standpoint, we should be focused on what it means for our country's tax competitiveness.

Previously, Canada could boast about lower business taxes : the Canadian average combined federal-provincial rate of 26.7 per cent, compared favourably to an American average combined federal-state rate of 39.1 per cent. That advantage is now history: with passage of the Tax Cuts and Jobs Act, the new average American rate is just 26 per cent.

Quote:Last year, even before any big American tax cuts, the Trudeau government's own Advisory Council on Economic Growth noted that foreign direct investment (FDI) is "a critical driver of economic growth" and observed that Canada was "falling behind" in securing FDI.

It's not as if Canada can count on other advantages to mitigate being competitive on taxes; regulatory uncertainty , for example, helped kill large projects such as Energy East.

President Trump regularly leans on American companies to invest more at home – a big problem for us considering American companies currently account for half of all FDI in Canada . Add a tax cut to that political pressure, and it could mean potentially big job losses as businesses head across the border and divert new investment stateside.

Quote:Simply put, Canada's current tax policy leaves us as sitting economic ducks. Our politicians need to move quickly, and start thinking of ways to keep Canadian tax levels competitive with our American counterparts.

another oh shite momento from libturd pez dispenser.....

on the flip side, at least they got those reformed isis fellers coming back for more......that oughta ease his pain.....

are world leaders ******* retarded......it's hardly a wonder the dems paid for the dossier propaganda bs that is now coming back to bite dem where it really hurts......

once people become optimistic and have incentive thru opportunity to gain a better lifestyle both emotionally and economically, the dippos are finished......

this is where I give thanks to 8 years of ZERO and hill-lair-liar.....couldn't have done it w/o dems.......how long it lasts remains to seen.....

however, right now it's happening XACLY! as scripted.....

#fucktheposers

#winningnevergetsboring

(12-24-2017 12:15 AM)stinkfist Wrote:  once people become optimistic and have incentive thru opportunity to gain a better lifestyle both emotionally and economically, the dippos are finished......

this is where I give thanks to 8 years of ZERO and hill-lair-liar.....couldn't have done it w/o dems.......how long it lasts remains to seen.....

Remains to be seen indeed. The congressional GOP still has a lot to prove to me that they understand what the Presidential election was about. They have to sack up and show they have what it takes to make the tough decisions but I like where the momentum is taking us.

Trudeau's glass slippers are quickly turning into the velcro trainers commonly seen in the average American nursing home.

(12-24-2017 12:15 AM)stinkfist Wrote:  another oh shite momento from libturd pez dispenser.....

on the flip side, at least they got those reformed isis fellers coming back for more......that oughta ease his pain.....

are world leaders ******* retarded......it's hardly a wonder the dems paid for the dossier propaganda bs that is now coming back to bite dem where it really hurts......

once people become optimistic and have incentive thru opportunity to gain a better lifestyle both emotionally and economically, the dippos are finished......

this is where I give thanks to 8 years of ZERO and hill-lair-liar.....couldn't have done it w/o dems.......how long it lasts remains to seen.....

however, right now it's happening XACLY! as scripted.....

#fucktheposers

Never underestimate the power of a good spin job. See the 1992 Presidential Election, where we were four years out of one of the most prosperous administrations in the country's history. Reagan proved that true Conservative economic principles worked. So in '88, we got George H.W. Bush, who in trying to please the Democrat Party and "correct" a "slumping economy", raised taxes. It backfired because he broke a campaign promise. Also, the national debt was starting to become a concern. Enter H. Ross Perot, who garnered enough support from fiscal conservatives to give Bill Clinton the White House.

Of course, the mainstream media helped fuel the fire by constantly saying we were in a recession when we really weren't. And they confessed twenty years later that the so-called recession had ended earlier than they were telling the public. Once again, public manipulation of the vote.

Bottom line: A myriad of factors led to a magnificent spin job by the "mainstream" media and the Democrat Party that made the general voting public forget about the Reagan years and that policies linked to Conservatism (in its truest form, of course) when enacted really do work.