Quote:
Originally Posted by YyjFlames
Generally people don't understand how much tax revenue these types of projects generate and how the taxes benefit their lives considerably.
This one project has a $1.5b price tag, and in construction, about 15-25% of that goes to direct taxes (income taxes and the layers of corporate taxes mainly). It also generates a bunch of indirect spin off taxes during the construction process and afterwards, and establishes long term taxes from the increased land value and business revenue.
Projects like these, if planned well, provide considerable benefits to the broader population.
The problem is that it's tough to show exactly how this revenue benefits the broader population (health care is free, right!), but you can certainly see a rich guy wearing a fancy suit chewing on a $100 steak in the new restaurant and we can all imagine the fat cats making bank off a 69 storey building (despite the crazy risk it takes to build something like this).
|
A $1.5b project, on completion, also reduces your property taxes by 0.15% or so. If Calgary can do 100 of these projects...could save you 15% or more on your property tax! Switch to GEICO today!