The Fraser Institute released a study this morning which should be of interest to politicians who don’t understand The Effect of Corporate Income and Payroll Taxes on the Wages of Canadian Workers. Here’s what their new study has to say today about corporate taxes in Canada:
“…we find that a 1% increase in the statutory corporate income-tax rate reduces the (inflation-adjusted) hourly wage rate by between 0.15% and 0.24%, depending on the model specification (these results are for workers employed in the private sector). Based on these results, if the 2012 unweighted average combined corporate income-tax rate for the ten provinces (27.34%) increased by just one percentage point to 28.34%, the national hourly wage rate in the following year would decrease by between $0.13 and $0.20, which translates into annual wages that are lower by between $254 and $390.” Continue reading A First Step for Justin
Today, the Fraser Institute released this year’s Economic Freedom of the World report. This report “measures the economic freedom (levels of personal choice, ability to enter markets, security of privately owned property, rule of law, etc.) by analyzing the policies and institutions of 157 countries and territories… using 42 distinct variables to create an index, ranking countries based on economic freedom, which is measured in five Areas: 1 Size of Government, 2 Legal Structure and Security of Property Rights, 3 Access to Sound Money, 4 Freedom to Trade Internationally, and 5 Regulation of Credit, Labour and Business.” The report uses 2013 statistics because that is the most current data year.
Property rights in Area 2 are our most fundamental and important rights. For many Canadians, property is their greatest asset and one they are placing considerable dependency on for a comfortable retirement. If a state doesn’t provide a strong legal structure and security of property rights, then it is seriously remiss, indeed. Canadians may think their economic property rights are secure, however, that is not exactly true. Continue reading Economic Freedom and Property Rights
Today is the start of the 2015 Global Entrepreneurship Summit (GES). The co-host this year is Kenya where the conference is being held. According to one U.S. government source, “GES is an annual summit bringing together entrepreneurs –- including social entrepreneurs — business people, venture capitalists and foundations for an intense two-day conference to network, learn from each other, and identify ways to improve the entrepreneurial ecosystem. GES is a White House initiative that partners with a different host country each year to showcase the dynamism of the local environment and hopefully strengthen entrepreneurial infrastructure.” Naturally President Obama will be there, but maybe this year he should take along some help. Continue reading Obama, Take Harper!
When the NDP government was elected in Alberta, I sold two of my six oil stocks. Yesterday morning before Stephen Harper’s agreement with the G7 was announced to phase out fossil fuels by 2100, I sold two more. This morning I won’t sell my last two. Reason? One of the companies is not active in Canada, the other is on an acquisition march and might become a take-over target itself.
That’s about all the uncertainty I can tolerate in the oil and gas industry. I don’t want to lose any more sleep over the Prime Minister’s commitment. I’ll leave the sleepless nights to Harper and he will be having them. Why? Because in the coming months his Conservative government will likely lose any hope of forming a majority government in the next election and his party may not even form a minority one. In fact, by the end of the year, they may not have much political clout at all. ‘Eastern treachery’ will cost him dearly in the West, although many Conservative voters in provinces to the east of Ottawa aren’t going to be very happy either. Continue reading Harper Stumbles
Last week the Doomsday Clock moved one minute closer to midnight. Time now, 11:55 PM. Five minutes to doomsday. This symbolic timepiece was conceived to reflect nuclear danger in 1947. Originally set at 11:53 PM, since then it has limped along through 20 changes. In the last few years, the original concept has fizzled into uselessness.
The most blatant limping began on the evening of October 22, 1962 when President Kennedy came on TV and announced that the Soviet Union had installed missile sites capable of delivering nuclear warheads on the United States. Construction of sites was also underway for delivery as far north as Hudson Bay and as far south as Peru. The U.S. proposed that 1) ‘All ships of any kind bound for Cuba from whatever nation or port will, if found to contain cargoes of offensive weapons, be turned back’ and 2) ‘It shall be the policy of this nation to regard any nuclear missile launched from Cuba against any nation in the western hemisphere as an attack by the Soviet Union on the United States, requiring a full retaliatory response upon the Soviet Union.’ Continue reading Doomsday Clock Fizzles Along