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UPDATE: The Toronto Star is reporting much larger numbers regarding both tax cuts and increases. More information will be available soon, when the NDP posts it's full platform online.
UPDATE II: Apparently the the NDP's tax plan does not include $9.5 billion in tax increases, as originally posted, but actually nets $9.5 billion in increased taxes over five years. However, the vast majority of the NDP's tax measures are still revenue neutral, paying for tax reduction on middle- and low-income families with tax increases on corporations and the wealthy. I have changed the post accordingly.
Business reporter Darren Yourk, of The Globe and Mail, predictably botched coverage of the NDP's election platform today.
The New Democratic platform includes tens of billions of dollars in both tax cuts and tax increases. The plan nets $9.5 billion from tax increases on corporations, million dollar estates, and incomes above $250,000. The platform actually reduces tax rates -- for the bottom 97% of Canadians.
So what was The Globe and Mail's headline?
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"NDP's 'moderate' platform heavy on taxes"
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Go figure.
Here are Yourk's first two 'graphs:
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"The NDP promised voters Wednesday it will deliver balanced budgets in the next five years while still spending big, unveiling a platform that would be paid for by $9.5-billion worth of tax increases."
"Party leader Jack Layton released the bright orange platform book in front of a hometown crowd in Toronto, saying he would increase income taxes on those who earn more than $250,000 and roll back more than $2-billion in corporate tax cuts that were introduced by the Liberals in January to help pay for $79-billion in new program initiatives."
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The NDP's tax cuts eliminate the GST on essential items, eliminate the income tax for earners under $15,000 and substantially increase the child tax credit.
At no time are the amounts of these tax cuts mentioned in Yourk's story. At no time does he mentioned that the NDP's tax cuts outweigh most increases.
This is unacceptable. This kind of sloppy 'journalism' could well effect the outcome of our election.
So, I urge everyone reading to email The Globe and Mail and Darren Yourk:
comments@globeandmail.ca
dyourk@globeandmail.ca
As our Conservative friends would say: demand better.
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