The Alberta government boasts in every budget that with its “Tax Advantage” program, Albertans pay the lowest taxes in Canada, and maybe even in North America. All personal and corporate incomes are taxed at a single 10-per-cent rate – except for small businesses, which pay a low 3-per-cent rate.
Budget cuts of 1990s did lasting damage
It’s curious how the proponents of the “cut first and ask questions later” approach to provincial budgeting continue trying to spread the myth Ralph Klein’s cuts in the 1990s were necessary, and that somehow Alberta and Albertans are better off because of them. It’s as if they believe that singing the same refrains over and over will make them true. But the reality is that these claims are as false today as they were back in 1993.
In response to the latest Alberta revenue crisis, Premier Jim Prentice has increasingly been beating the austerity drum. But is an austerity agenda the best way for the province to deal with the current fiscal crunch?
Alberta needs income and corporate tax reform
It has now been a couple of weeks since Alberta Premier Jim Prentice floated the idea of a provincial sales tax in a speech to the Edmonton Economic Development Corporation (EEDC) luncheon (a trial balloon which Albertans soon overwhelmingly deflated, according to a somewhat-questionable poll on the issue).
Earlier this month, Josh Bilyk, president of the Alberta Enterprise Group, wrote an op-ed piece critiquing Public Interest Alberta’s efforts to advocate for fair reforms to our province’s personal and corporate income tax systems and to discuss with Albertans how additional revenues could be used for the public good.
A new fact sheet released this morning by the Parkland Institute in response to the 2014 Alberta Budget says that the Alberta government has missed an opportunity to address a significant roadblock to improved health, happiness, prosperity, and overall well-being for the province.
Progressive Income Tax in Alberta
The Case for Action by the Government of Alberta on the Social Determinants of Health
New report shows that fair and progressive taxes could solve Alberta’s fiscal woes
A new report released this morning by the U of A’s Parkland Institute says that the solution to Alberta’s current fiscal woes, and to growing inequality in the province, lies in an increase in corporate taxes and a return to a progressive tax system—a move that a majority of Albertans would support.