Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks -- Ignore unavailable to you. Want to Upgrade?

To: Stockbull who wrote (281)	11/28/2000 11:14:27 PM
From: Robert Salasidis	Read Replies (1) \| Respond to of 548

I could have enough write-offs if I decided to sell. However the cut in the capital gains tax was the best move of the last 8 years. It is now relatively competitive with US rates (and if one more cut to 40% inclusion rate is made it will be at par in Ontario, and slightly over in Quebec. In Alberta, it would be way below the US rates at that point. My main concern is income, and when it comes to productivity concerns, income is almost as important as capital gains. I agree that the cap gains was the right area to tackle first, but now we should deal with the other side of the equation in order to remain at least in the same playing field as the US. The election of Bush (if it does happen) may actually be of benefit to Canada, as a US tax rate cut would limit the options locally, requiring at least a similar percentage rate cut in order to not increase the spread in tax rate differential between the US and Canada. This may also have the added bonus effect of limiting program spending. My main argument against increased program spending is that in tougher times it is always taxes that go up and spending is almost never cut. Freezing increased spending, allowing GDP growth to make it a smaller percentage of the GDP, and subsequent targeted (and accountable) spending down the road would be the way to go (and to some extent was was was done over the past 5 years at the federal and provincial levels).