Is there a possible exception for professions funded by governments? Your 50% maximum upper tax bracket suggestion is one way. Could the federal government provide a partial exemption from the new rules for those who are paid by governments?
I certainly am appreciative of our doctors and value the great and necessary services which they provide however I cannot manage to muster up a lot of sympathy for them having to pay taxes consistent with their income.
Realizing that you qualify your slant toward the issue of incorporated professionals, I think one of the most important taxation challenges is to properly define ‘small business’.
If as I believe ‘it’ to have been the ’employer’ of the great majority in the post-agrarian age; and, was largely responsible for the ‘growth’ of the modern economy – perhaps it ought not to be income taxed at all, considering that any earnings are best left to ‘growth’ (and for the resentful, it should be pointed out, that any profits removed could only go to the shareholders, who are income taxed).
As for how big business should be defined or separated off taxation-wise … well, that’s a distant, be not unrelated issue, none of which will be resolved by treating small business like the big guys.
Hi Bill
Is there a possible exception for professions funded by governments? Your 50% maximum upper tax bracket suggestion is one way. Could the federal government provide a partial exemption from the new rules for those who are paid by governments?
I assume all are fully using their TFSA.
Jim
Jim Kirby | August 27, 2017 |
I certainly am appreciative of our doctors and value the great and necessary services which they provide however I cannot manage to muster up a lot of sympathy for them having to pay taxes consistent with their income.
Bob MacKenzie | August 26, 2017 |
Good analysis Bill. We would be far better off if PM Selfie put as much effort into creating wealth as he does into taking money .
barry h | August 26, 2017 |
Realizing that you qualify your slant toward the issue of incorporated professionals, I think one of the most important taxation challenges is to properly define ‘small business’.
If as I believe ‘it’ to have been the ’employer’ of the great majority in the post-agrarian age; and, was largely responsible for the ‘growth’ of the modern economy – perhaps it ought not to be income taxed at all, considering that any earnings are best left to ‘growth’ (and for the resentful, it should be pointed out, that any profits removed could only go to the shareholders, who are income taxed).
As for how big business should be defined or separated off taxation-wise … well, that’s a distant, be not unrelated issue, none of which will be resolved by treating small business like the big guys.
Gordon a.... | August 26, 2017 |