Post Secondary Education for Your Kids vs Tax Cuts for Foreign Corporations
Today the Liberal unveiled the Learning Passport. This will provide $1,000 a year to every student in post-secondary education, $1,500 for students from low-income families. This tax-free cash will provide a huge boost to cash strapped families who have been suffering to afford putting their kids through school with the rising tuition rates in recent years. It will also allow students to attends a post-secondary institution who otherwise couldn't have afforded to go.
Given today's economy we need to get more people attending a post-secondary insitutions to remain competitive. This policy takes great strides in that direction.
How are the Liberals going to pay for it? By rolling back those corporate tax cuts. This is a great strategy because it presents voters with a clear choice: money for their kids education, or money for big banks, big oil and foreign corporations.
Given today's economy we need to get more people attending a post-secondary insitutions to remain competitive. This policy takes great strides in that direction.
How are the Liberals going to pay for it? By rolling back those corporate tax cuts. This is a great strategy because it presents voters with a clear choice: money for their kids education, or money for big banks, big oil and foreign corporations.
Labels: corporate tax cuts, education, learning passport
posted by A View From The Left at 8:02 PM
2 Comments:
My understanding is the corporate tax cuts apply to all corporations domestic or foreign. I should note former Liberal John Manley supports them and the Ontario provincial government does too. While it is unappealing to lower corporate taxes, the danger is with high ones they will go elsewhere which means fewer jobs and less tax revenue long-term. In addition most corporations plan their budgets in advanced so better to at least give them a year's warning or if they come up short, it usually means lay offs, not lower bonuses as most might wish to think. Off course one could make the cuts conditional on creating more jobs and not outsourcing so they at least have a positive impact.
As for the learning passport this does seem like a good policy. And I think the most sensible tax hike is to raise the GST back to 7% which would bring in even more revenue.
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