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Originally Posted by Flames0910
Slashing them to 8% was the original bad policy so let's not let the UCP off the hook for Kenney's "failed experiment" in corporate welfare either.
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Not to mention slashing the corporate tax didn't equate to hiring more people. Many O/G companies used the downturn to switch to things like machine learning, robotic process automation and automated systems; many used the time to beef up ERP systems like SAP S/4HANA, Oracle NetSuite, and Dynamics 365. They also gave more profits back to shareholders.
Then we saw O/G companies pulling profits and not really re-investing them back into the Alberta economy as one would expect. Here's an article about it last year:
CBC: Oil industry booming, but profits aren't staying in Alberta like they used to
It's even debateable if the Job Creation tax cut actually created more jobs at all.
One thing I get frustrated with proponents about "job creation" tax cuts is that reality isn't a textbook from 1994. "Jobs" in the classical sense are no longer the spending priority when companies have extra corporate capital, unless the corporation is actively looking to
give people jobs, which is hardly the mantra of a competitive organization. Shareholders and operational efficiency are usually prioritized first.