Dion’s Liberal Tax Plan

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So, Stephan Dion has promised a huge tax plan if he gets elected as prime minister in the next federal election. The idea is to encourage less energy use, but still make it affordable for citizens to pay for it.

Here’s what he is proposing:

  • $10 tax/tonne of gas emissions in first year
  • $40/tonne by 4th year
  • Lowest tax bracket from 15% to 13.5%
  • Middle tax bracket from 22% to 21% (first in years)
  • Highest tax bracket from 26% to 25%
  • General corporate income-tax rate cut by one percentage point by 4th year
  • Small businesses receive an additional cut of one percentage point
  • Tax breaks for green technologies and research and development
  • Child tax benefit of $350/child, on top of the existing child benefit
  • $150 annual credit to rural residents
  • $200 annual tax breaks for northern residents
  • $1 billion contingency fund to help charities and others with unexpected cost increases

Who pays:

  • 8.2% increase in home heating-oil up costs in 4th year
  • 4.9% increase in diesel costs
  • 8.4% increase in propane costs
  • 95?Ǭ¢ price increase for gas barbecue propane tank
  • $203 increase in average energy bill of a home heated by oil
  • $266 increase in average energy bill of a home heated by natural gas
  • $1,380 tax break to cover energy costs for a family of four earning $80,000

Thoughts?

10 thoughts on “Dion’s Liberal Tax Plan

  1. Stephen Harper is an economist so I think I would trust him with this stuff over Dion. Besides Stephen Harper has already proven that he can lower taxes (GST) and make the economy better.

  2. You’re kidding, right?

    What about the increase in the lowest tax bracket from 15% to 15.5% when he first took power? What about the decrease in personal exemption amount from $9,300 to $8,900 when he took power? What about making the childcare benefit taxable, thereby increasing total taxes to every household with children under 6?

    Harper has increased taxes more than he has decreased them.

    And using the GST as an example? I would hardly call $2 for every $100 much of a tax break. I get more of a break with my Superstore coupons ($30 on $250).

    I’d like to see him give us a 2% decrease in income tax. Now THAT would be a tax break.

    I’m interested to hear how you think he has improved the economy. Everything I have read says that at best the economy is stagnant, and at worst has declined.

  3. meh. I wouldn’t give credit or indict any politician for the Canadian economy as of late.

    With our close coupling to the US economy which has been tanking for months and our strong dollar shrinking our exports, it’s almost outside of the country’s leader’s control.

    It’d be nice if someone would come up with a plan to limit this semi-inflationary trend we’ve seen of late.

    The whole ‘carbon tax’ nonsense is a red herring.
    There’s nothing to be gained except political points on that particular topic.

  4. I didn’t know that Kim, I live in the US now so the only tax I pay in Canada is the sales tax when I go to visit. I agree with Rick though, It is the US economy that hurt the Canadian economy.

  5. $1,380 tax break to cover energy costs for a family of four earning $80,000

    Nice to see those that can afford to pay their energy bill get a tax break when those that are low income don’t get that right. Nice touch.

  6. Mum, lower income families get a bigger tax break. Their tax bracket is dropping 1.5%, while the others are dropping by only 1%. In addition, low income families are more likely to have children, thus being more likely recipients of the increase in child tax benefit. It’s even more if they live in a small town.

  7. I guess my main concern is that he doesn’t have anything remarkable about his past. He’s been forgettable as a party leader and a bit like a reed in the wind on policies.

    I certainly have no issue in particular that I can remember that he championed. Perhaps this will be his first.

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