How is the tax regressive? It's a sales tax - if you buy more stuff, you will pay more of the tax. If you have less money and buy less stuff, you will pay less of the tax…
'Regressive' is more of a definition thing (in economics).
If everyone pays the same % of tax it's, by def'n, regressive. If I make 10000 a year, and you make 20000, I will pay a greater percentage of my income in tax (assuming we consume the same).
'Progressive' taxes typically increase with increasing income.
VancouverSun, on CEO salary comparisons and why the 'no' side gets it wrong: http://www.vancouversun.com/touch/story.html?id=10842847
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NSMBA member.
'Regressive' is more of a definition thing (in economics).
If everyone pays the same % of tax it's, by def'n, regressive. If I make 10000 a year, and you make 20000, I will pay a greater percentage of my income in tax (assuming we consume the same).
'Progressive' taxes typically increase with increasing income.
If you assume people with lower incomes spend a greater proportion of their income on taxable essentials than people with higher incomes, then it is regressive in practice too. Oh, yeah … did you see the BC Libs just gave tax relief to people making over $150,000 a year while dropping the low-income floor for tax from $19,000 to $18,000?
How is a surtax expiration a tax relief?
It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp
Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells
If you assume people with lower incomes spend a greater proportion of their income on taxable essentials than people with higher incomes, then it is regressive in practice too. Oh, yeah … did you see the BC Libs just gave tax relief to people making over $150,000 a year while dropping the low-income floor for tax from $19,000 to $18,000?
I was just stating definitions. There was nothing normative about what I posted. Im fully on board with progressive tax structures (where possible).
How is the tax going to be implemented? There are business groups that say it will cost businesses thousands of dollars to deal with the new tax. I though it was just an increase in the PST at the checkout, which shouldn't cost businesses anything.
Changing any tax will never be free for businesses, but this will likely be one of the cheaper ones to change given assuming that it's just a change of the rate. If they mess with what's exempted from PST then that goes out the window - you've effectively got a new tax.
If you're a small business running through a single EPOS system and QuickBooks, then you just change it and you're pretty good. If you're a bigger business, you probably have a more involved change to make with IT folks coordinating the change and ensuring your reconciliation processes are good to go. That requires planning and testing.
Business groups will view any tax increase as a potential loss of customers due to increase to cost of goods and services, so they have a vested interest in finding something wrong with the tax.
Yeah but, is it the Board of Trade or Chamber of Commerce that's on side here? At least one is………
Freedom of contract. We sell them guns that kill them; they sell us drugs that kill us.
Wow… $6million bucks to hold this plebiscite and another $4 million of municipal funds being spent to push the yes vote. I can think of better ways to spend $10 million of our tax dollars. Ugh.
$181,000,000.00 in cycling infrastructure over next 10 years…..
Freedom of contract. We sell them guns that kill them; they sell us drugs that kill us.
How is a surtax expiration a tax relief?
noun: tax relief, remission of a proportion of income tax due on earned income.
For anyone that cares, the BC high income surtax was implemented as a temporary measure, beginning on Jan 1, 2014 and expiring on Dec 31, 2015. So it seems that the new budget just kills the surtax earlier than planned.
With changes from Stevie and Christy, I'll save about $4-5k on taxes this year.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
If you assume people with lower incomes spend a greater proportion of their income on taxable essentials than people with higher incomes, then it is regressive in practice too.
While it is technically regressive, the amount being asked for is so small that its bearable for most, the benefits are far more progressive though, the rich guy with more disposable income will likely contribute a lot more to the fund than the minimum wage guy, and is less likely to use the things being paid for. Many essentials are PST exempt, food for example.
Yeah but, is it the Board of Trade or Chamber of Commerce that's on side here? At least one is………
I know the Surrey Board of Trade is in favour, not sure about the others, but most likely the realize the benefit of transportation to their economies.
Wow… $6million bucks to hold this plebiscite and another $4 million of municipal funds being spent to push the yes vote. I can think of better ways to spend $10 million of our tax dollars. Ugh.
Well lets not waste it, and vote yes and get on with this, if we vote no, we'll be moaning about our transportation system for another 10 years before going through all this again.
Seems like communities that get the most benefit are suggesting a yes vote…
It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp
Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells
Will a 'no' vote be our Rob Ford moment? http://globalnews.ca/video/1856062/former-vancouver-chief-planner-brent-toderian-weighs-in-on-transit-plebiscite
NSMBA member.
This is a must watch if you can vote and it needs shared!
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