Success: Away from the low growth and high regulation of an America under Washington's thumb, our northern neighbor is economically strong. As 2011 ends, Canada has announced yet another tax cut — and will soar even more.
The Obama administration and its economic czars have flailed about for years, baffled about how to get the U.S. economy growing.
In reality, the president need look no further than our neighbor, Canada, whose solid growth is the product of tax cuts, fiscal discipline, free trade, and energy development. That's made Canada a roaring puma nation, while its supposedly more powerful southern neighbor stands on the outside looking in.
On Thursday, Canadian Prime Minister Stephen Harper announced that he will slash corporate taxes again on Jan. 1 in the final stage of his Economic Action Plan, dropping the federal business tax burden to just 15%.
Along with fresh tax cuts in provinces such as Alberta, total taxes for businesses in Canada will drop to 25%, one of the lowest in the G7, and below the Organization of Economic Cooperation and Development average.
"Creating jobs and growth is our top priority," said Minister Jim Flaherty. "Through our government low-tax plan ... we are continuing to send the message that Canada is open for business and the best place to invest."
It's not just that Canada's conservative government favors makers over takers. Harper's also wildly popular for shrinking government. "The Harper government has pursued a strategic objective to disembed the federal state from the lives of citizens," wrote University of Calgary Professor Barry Cooper, in the Calgary Herald.
Harper also has made signing free trade treaties his priority. Canada now has 11 free trade pacts in force, and 14 under active negotiation — including pacts with the European Union and India, among others.
"We believe in free trade in Canada, we're a free-trading nation. That's the source of our strength, our quality of life, our economic strength," Flaherty said last month.
Lastly, Canada has pursued its competitive advantage — oil. And it did so not through top-down "industrial policy," but by getting government out of the way.
Harper has enacted market-friendly regulations to accomplish big things like the Keystone Pipeline — and urged President Obama to move forward on it or else Canada would sell its oil to China.
These policies have been well-known since the Reagan era. But in a country that's been institutionally socialist since the 1950s, Harper's moves represent a dramatic affirmation for free market economics.
For Canada, they've had big benefits.
Canada's incomes are rising, its unemployment is two percentage points below the U.S. rate, its currency is strengthening and it boasts Triple-A or equivalent sovereign ratings across the board from the five top international ratings agencies, lowering its cost of credit.
Is it too much to ask Washington to start paying attention to the Canadian success story?
These sound principles work every time they are tried, and they have led to a transformation in Canada.
Imagine what they could do in the U.S.
http://news.investors.com/Article/596263/201112291827/tax-cuts-give-canada-economy-a-boost.htm
YES!!! Not to mention their government health care!!
AntwortenLöschenWhich you didn't mention.
AntwortenLöschenYep!
AntwortenLöschenThey can keep their Keystone pipeline.
AntwortenLöschenThere is no guarantee that they are going to sell all of that muck to the US. They just want to use us for transport. Canada has more government than this article leads one to believe.
It's funny how a lowering of taxes has made Canada better, that and they have a healthcare system which is run by the state. Maybe it is also because they don't go charging off half cocked to un-winnable and ultimately expensive and futile wars. But hey, this is politics and when have facts ever mattered in politics.
AntwortenLöschenMy God! I post an article about how Canada is getting back on the right track and the LEFT (you hacks here) can do nothing but whine.
AntwortenLöschenI am happy that Canada is doing better. Why can't you be?
I do wish you would for once in your posting career stop making out that everyone who is not as far right as Mussolini is the 'left', much less that when facts are presented that they are somehow whining. Fact; as you point out, Canada is doing well, or at least well compared to many, good for them. Fact; They have a state run health service. I wonder what other facts are causing them to do so well, facts that you would not want to admit?
AntwortenLöschenThe point is that having smaller government and lowering taxes will, in the long run be beneficial, but only if those tax breaks and De-regulation are targeted at making things better for the vast majority of citizens not the minority or the corporations.
AYE.;...... there is the rub. In order for there to be sustained growth........EVERYBODY must benefit! Its a simple concept really!
AntwortenLöschenSimple people can't catch that Ron. Ayn Rand has poisoned their minds.
AntwortenLöschenYeah, I guess thats right.........In which case, those of us who can thank our way out of wet paper bag are really screwed.
AntwortenLöschenWhat does this have to do with the article. So some Canadian has to wait in line for six months to get a pap smear (BUT IT"S FREE) and how is this relevant?
AntwortenLöschenI am sorry I called you the LEFT...but you are. My Ron is as far left as they come. SANYNTJ tries to be middle of the road but he is a solid DEMOCRAT and LSU Fan.
Embrace it.
I am sorry the headline did not read;
CANADA Taxes the 1% at a 99.9% rate and the State takes over all Private Business
Maybe then the whining would stop.
Randy - on the RIGHT and not afraid to own it.
Randy on the Right? I never would have guessed! Oh BTW.......I haven't heard any of us "whining".
AntwortenLöschenFirst, my name is SAYNTJ as in saint j.
AntwortenLöschenSecond, I will not defend my political affiliation to a hack job like yourself, you have yet in any debate we have had to prove that you are anything more than a neo-con talking points zombie. You don't merit my audience. You are NOT a conservative. You are a fraud. A wanna be Limbaugh or Hannity. BTW, neither one of them believe the bullshit that they say.
Only roadkill is in the middle of the road.
LSU fan? Don't be pissy because the unable to fight Irish couldn't beat a sub par FSU. Once again you were wrong. You don't know politics or sports.
The only reason I don't pity you is because you at least amuse me from time to time...like a loud fart.
You cant own the right when you are wrong.
Since you call it whining what do you think your fake wanna be conservative idiots are going to do when Obama wins because you couldn't find not ONE single decent candidate to defeat a weak candidate on the left?
So Randy, Erick, Kevin, or whatever your name is try just for one day(Make it an April Fools prank) to use something besides sophomoric and intellectually dishonest tactics when making a point...or at least find a point.
OK, i'm trying to decide who i love more between Neil and SayntJ.
AntwortenLöschenYou both have made valiant efforts to debunk the typical, repetitive, boring same old Right wing talking points. I'm afraid it's all in vain though. Our friend Randy does not concede a point even when shown it to be flawed at least.
I'm imagining him wetting his pants when he found this article that has SOME facts that fall right into the Wingnuts' small government, payoff corporations, let poor people die world view.
Mozel tov, Randy. You must be so happy. And if it weren't for those nasty little details and differences which make life in Canada more livable for ALL it's people (and the fact that we didn't let you get away with ignoring them) you'd probably have wet yourself in another way ;-)
Sorry, but you are just so dishonest in your representation and reaction to dissenters.
And i'm so sick of yours and your fellow Righties' dismissal of the real benefits of a state run healthcare system.... something most other industrialized countries have which do have their problems, like all bureaucracies do, but manage not to have people go bankrupt or die (yes people have died from lack of proper medical care) because they can't manage the costs or get denied coverage.
Maybe it's the desperation talking. Don't worry... we survived Bush, you'll survive another Obama year ;-)
This is the last time that I will post good news about Canada. You think people would just be happy for Canadians but NO.
AntwortenLöschenAmazing.......
People are happy for Canada, if you open your eyes you would see that. If on the other hand you want to have a toddler tantrum because people have pointed out that your views are not the whole truth, then don't let anyone stop you. But you will be in a minority of one when it comes to reading bad things about Canada into this blog.
AntwortenLöschenWhat is more amazing is your ignorance, maybe you like to believe all the rubbish that the far right idiots throw out, but for those who can think independently, it is still just rubbish.
Maybe if you weren't trying to goad "the Left", which is the real reason behind your "good Canada news", you'd realize Canada has always done a better job of making life fair for ALL it's citizens, not just the rich and well connected.
AntwortenLöschenWhy don't you try to figure out how Canada does that AND manages to lower taxes.
Maybe ask some Canadians instead of combing right wing sites trying to bolster your tax cutting agenda.
If the US can provide health care like Canada and other nations do, and still have a FAIR and sane tax policy, I'm all for it. Trouble is, you and your ilk are still clinging to a FAILED trickle down theory.
That didn't work then and for damn sure won't work now and hasn't worked yet!!!!!!!
AntwortenLöschenYup. For the numbnuts like Randy it's the definition of insanity... doing the same thing and hoping for a different outcome.
AntwortenLöschenFor the real power elite it's the lie they still get the idiots to believe.
Pathetic.
I thought so! ;-P
AntwortenLöschenTax cuts or tax increases have little or no bearing on job creation.
AntwortenLöschenEffective taxes do.
I am so tired of this argument. Businessmen, which I was for over 10 years don't operate in that mindset. We base our operation on the premise that we will make more than we pay out!
Every honest businessman knows this. Why is this still being debated?! Its irrelevant! If I hire someone, its called overhead...duh...tax deduction!
Can't we start having a real debate about issues that are true and not talking points!
Hating on the UNDEFEATED LSU Tigers makes you a hater!
AntwortenLöschenI can't remember...how many games did Notre Dame win besides the bowl game they won...oops...I forgot they lost.
Lol!
I'm afraid we can't.
AntwortenLöschenIt doesn't fit their agenda. And as long as idiots CONTINUE to fall for it it will remain that way.
And it's gone beyond talking points. It's "the big lie" at this point.
I guess the better question would be can't the uninformed ever wake up to the lies their being told?
Notre Dame got robbed.
AntwortenLöschenNobody at LSU goes to school so I am pulling for Nick Saban again.
Everyone have a great New Years eve. I am off to see Mission Impossible.
~ Numbnuts
Enjoy your New Years, numbnuts.
AntwortenLöschenHave fun watching Tom run from his gay thoughts.
Lol!
Good to see you on form posting mindless drivel with no substance again. Time to refute your meaningless words again.
AntwortenLöschen1 Hugo Chavez is a stuck up idiot who rants and raves with nonsensical politics and tries to assign views to others which are patently not the case, very much like you are doing. He is another person who likes the sound of his own rants but who has very few facts to back up his words, you two should get on like a house on fire.
2. The left in America is still right of center when it comes to looking at world politics, and looking at the policies which they talk about, taxation is certainly not their only target.
3. You may well be right that raising taxes would not work, but if those in the country, both individuals and companies stopped avoiding taxes so much, maybe there would not be the tax burden on the rest of the tax payers. As you say Canada gets it, and there is far less tax avoidance there too, what does that say about the tax dodgers?
In that report about the richest 8274 people, did it mention how much tax they paid or how much tax was earned off those $240 billion or indeed how much government subsidy was given to the companies which they control? and how much as a percentage did that equate to the average tax payer?
4. How much of that government spending over the next 24 days is down to military adventures in foreign lands which the last administration got America into? and how much of it is down to paying interest on the debts which have been accrued over the last 30 or more years and not addressed by any government of either party?
5 good for those people earning so much, all power to them. How many more people were driven into poverty and lost everything due to the greed and mis-selling of financial products by banks who acted with criminal negligence just to squeeze a few extra pennies profit which was then paid in multimillion dollar bonuses?
6. if those stats you give about the rich paying that proportion of taxes, then it is good to know that they are paying something, it would hardly be patriotic to avoid paying taxes after all. Yet many on the talk shows tout the idea of the rich being taxed less because it brings more employment. Politics being what it is, there are often big claims like this, and all parties do it with their own policies. What I have yet to see is proof of this claim, the number of rich people in America is growing, yet the number of unemployed is growing faster. The number of jobs being exported to other countries (ironically in the case of the motor industry, with bail out money) is growing, particularly to places where the wages are so much lower. Also along side the lowering of taxes for the rich, the same people proposing that measure are also the same ones who don't like illegal immigration. Why then do so many companies who pay into the funds of various candidates employ so many illegal immigrants? These people are working and there are many who seem to arrive and walk straight into jobs so there must be work available. Why are Americans not doing that work?
7. How long has that debt been on the rise? When did the deficit get established and how many governments have ignored it to the detriment of all American tax payers? This is not the work of a single president, it has been growing for ages. When is someone going to actually tackle that problem and who owns the debt?
It is the facts and the details which the rhetoric from all sides ignore. Coming out with statements is one thing, being honest about the whole situation is something totally different and something which I have yet to see a politician of any party really do.