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.
A Common Sense Approach
And Calgary is the most unequal city
Analysis by the Parkland Institute and the Canadian Centre for Policy Alternatives of new data on Canada’s richest 1% shows that Alberta has become the country’s most unequal province and Calgary its most unequal city. The new data shows that incomes (adjusted for inflation) for the top 1% of Albertan doubled between 1982 and 2010, posting a shocking increase of $320,000. By comparison, the bottom 90% of Albertans saw their incomes increase by a total of only $3,900 over the same time period.
Alberta's Taxes Are Too Low
According to the Alberta Government, “If Alberta had any other provincial tax system, Albertans and Alberta businesses would pay at least $11 billion more in taxes each year.”
Corporate Profits and Taxes in Alberta
Alberta’s economy has seen tremendous economic growth, but the lion’s share of that growth has been benefiting private corporations.
In recent months both the Premier’s Council for Economic Strategy and former Premier Peter Lougheed have emphasized the need for Alberta to stop relying on volatile energy revenues to fund public services and infrastructure. A new report released today by the U of A’s Parkland Institute takes the conversation to the next level by discussing how we can change our tax system to accomplish that goal.
Financing the Priorities of Calgarians
Based on Calgarians' stated infrastructure and social priorities, this report considers the City's options for paying for those priorities justly and sustainably. We highlight infrastructure and social spending benefits, privatization costs, and issues around property taxes.
Parkland Institute releases new report
CALGARY – A new report released this morning by the University of Alberta’s Parkland Institute says that Calgarians’ vision of their city requires excellent public services and infrastructure, and that City Council will need to find fair and sustainable revenue streams to pay for them.
Albertans Pay Highest Out-of-Pocket Costs for Services
Think tank says returning to 1999 tax structure would put Alberta in a surplus position
EDMONTON— A new fact sheet released this morning by the University of Alberta’s Parkland Institute says that the “flat tax,” introduced by Ralph Klein in 2001, is costing the province in excess of $5 billion a year. Given the projected deficit of $4.3 billion this year, simply returning to the progressive tax structure that existed in 1999 would be more than enough to move the province from a deficit budget to a surplus budget.