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We know all about the NDP's 'tax heavy platform'.
We know all about their 'unpopular schemes'.
We'll all pay a lot less taxes under a Conservative government, right? After all, The Globe and Mail's told us so, hasn't it?
Well, guess what?
The sanctimonious corporate shills got it wrong.
They got it wrong again, and again, and again.
Yesterday the Canadian Centre for Policy Alternatives -- having bothered to, you know, read -- published a study comparing the Conservative and NDP tax cut plans. It's findings?
Nearly twice as many Canadian families would get a bigger tax cut under the New Democratic plan:
64% of Canadian families would save more under the NDP's tax cut plan, 36% under the Conservative plan.
Families earning $100,000 or less would save an average of $540 under the NDP's plan -- 16% more than under the Conservative plan.
Typical Canadian families, those earning between $40,000 and $60,000 a year, would save an average of $690 under the NDP's plan -- 81% more than under the Conservative plan.
Is that so hard to understand? People who can't figure this stuff out shouldn't be writing about economics.
If I didn't know better, I'd think this election were being covered by Yankees!
A little civilization's all I'm asking for!
OK (calm down Ian), for those too lazy or incompetent to figure it out for themselves, here are the relevant numbers:
Income Group |
Pop. (mil) |
Pop. (%) |
Total Income Tax Savings CP (mil) |
Total Income Tax Savings NDP (mil) |
|
Min - 20K |
2.96 |
19.8 |
241 |
500 |
20K - 30K |
1.83 |
12.3 |
211 |
763 |
30K - 40K |
1.52 |
10.2 |
235 |
720 |
40K - 50K |
1.21 |
8.1 |
333 |
798 |
50K - 60K |
1.08 |
7.2 |
541 |
782 |
60K - 70K |
0.91 |
6.1 |
725 |
829 |
70K - 80K |
0.90 |
6.0 |
1,024 |
780 |
80K - 90K |
0.82 |
5.5 |
1,160 |
716 |
90K - 100K |
0.67 |
4.5 |
1,046 |
530 |
100K - 150K |
1.94 |
13.0 |
4,039 |
902 |
Over 150K |
1.09 |
7.3 |
3,663 |
-1,831 |
All figures based on party tax plans once fully phased in.
As one can see families making $70,000 and below (64% of the population) realize greater gains under NDP's tax plan, while families making above $70,000 (36% of the population) do better under the Conservative plan.
Simple addition shows that 11.89 million Canadian families earning $100,000 or less would receive $6.42 billion dollars in tax cuts under the NDP's plan, but only $5.52 billion under the Conservative plan. This yields an average tax cut of $540 a year under the NDP's plan and just $464 a year under the Conservative plan.
Likewise, the 2.29 million Canadian families earning between $40,000 and $60,000 would receive $1.58 billion dollars in tax cuts under the NDP's plan, but only $874 million under the Conservative plan. Again, this yields an average tax cut of $690 a year under the NDP's plan and just $381 a year under the Conservative plan.
(The Liberals, of course, have no plan to reduce taxes on low- and middle-income families.)
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