October 28th, 2020

Thanks for helping the rich get richer


By Letter to the Editor on January 17, 2020.

I happen to be over 65 years old, but my wife is under 65. She just received notification this morning that her prescription coverage for seniors is being cut off, effective March 1. At the same time, we read that due to cuts in provincial corporate tax, executive pay and bonuses are soaring to new heights.

We would just like to thank Premier Kenney for his vision and leadership, which are making it possible for my wife and I to contribute to the prosperity of other Albertans (well, some, anyway) in such wonderful ways. Well done, Mr. Kenney!

Kent Peacock

Lethbridge

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johnny57

Maybe we can get Mr.Kenny to write you a cheque Kent! How many zeros would you like at the end of it?

grinandbearit

i do not think it is unreasonable for people to have some confidence in retirement plans and benefits as they plan retirement. Because some provincial government has an irrational hate on against public employees is not a reason to undo plans for successful income during retirement. This government does not respect people who have worked or are working for a living.

George McCrea

A great idea would be for those wind, solar and anything green companies to forgo their corporate tax deductions and subsidies and contribute to your cause. What do you think??

grinandbearit

Gosh George. Those companies’ tax breaks would not actually make up the relevant shortfall in benefits. In fact I do not think they would pay for the gold flake on the doorknobs of oil and gas executives’ yachts
.

George McCrea

Gosh darn it, imagine those CEO’s
Through managing 10000 employees and
Creating wealth for investors get their doorknobs. Wind solar and the
Green gang doing the same. They can pay their share

wheatking5

g&b: Many small oil and gas firms have shut their doors after and were owned/operated by average working Albertans. The fact that you state a remark about gold plated doorknobs, I realized another definition of a doorkn*b.

meisplayfull2

Can anyone provide some real information on the 4.7 billion in tax cuts. Is this per year?? How does one define a corporation or is it all business?? I think I would prefer some kind of tax credits for economy stimulation , like an individual gets the nonrefundable credit for charitable donations over a straight tax break but just would like to understand the analytics of the 4.7B. Even a web link to a detailed article would be appreciated

diplomacy works

meisplayfull2 – from a conservative friendly source, the Financial Post:

““Reducing the corporate tax does not provide any financial advantage before you are profitable, which is true of most new ventures in the initial years,” said Robert Price, founder of Calgary-based Bōde, a digital real-estate company. “What is the bigger picture approach to successful economic diversification? The UCP tax change is short-term thinking.”

It does a good job explaining the UCP ideological thinking, why it’s unlikely to work and why most of us are terribly worried about the cutting to diversification and the betting on 4.7B in tax cuts creating jobs.

In fact Husky and Encana & others took their cuts and moved south of the border anyway.

George McCrea

It is a reduction of 1% in the corporate
tax rate per year for 4 years
This reduces the current corporate tax rate
Of 12% to 8%. Expected or estimated tax reductions
To corporations are 4.7 billion over four years
Even mum and pops get the reduction along with
All our favorite grocery stores, hair stylists, bakeries and
Restaurants.
To note prior to the NDP the corporate tax rate
Was 10% which they increased to 12%.

wheatking5

Thanks George for the numbers. I am planning a small start up. I will set up where I have certainty. Most business capital works on this basis.

Fedup Conservative

diplomacy works has it right, those us whose careers were in finance know that reducing taxes for corporations only makes CEOs a lot richer. Who does Kenney make pay for his support of his rich friends while he makes them a lot richer, the stupid seniors who were dumb enough to elect him. Wait until you see what his plans for our health care system are going to cost you. You can’t force a lot more privatization onto the backs of the people without it costing you a lot of money, as my American relatives will tell you. .

biff

curious how there are so many regular folk that just roughly eke out an honest living, and, yet, they cannot see who all are picking one’s pockets. it is not just deft pocket picking, even, it is a violent yank and grab. kenney is not even an iota about the masses, he is about himself and the big boys that are thieving our wealth.