Alberta budget news

[darklord700]

Originally Posted by yads

Yes, the real cause is tax cuts that happened 12 years ago.

The Redford government should get off from their high horse. Nothing seems to be their problems, it's bituman bubble, no sales tax, revenue roller coaster, you name it. That's the proven leadership that we get from Redford.

[darklord700]

I listened to the BC budget speech yesterday. And their Finance Minister said that they will not spend more money than thier tax take in and they presented a balanced budget for 2013. I would like to see Horner say the same think, not spending more than you make for Alberta.

[Rathji]

Originally Posted by darklord700

I listened to the BC budget speech yesterday. And their Finance Minister said that they will not spend more money than thier tax take in and they presented a balanced budget for 2013. I would like to see Horner say the same think, not spending more than you make for Alberta.

As long as it doesn't increase taxes, right?

[yads]

Originally Posted by darklord700

The Redford government should get off from their high horse. Nothing seems to be their problems, it's bituman bubble, no sales tax, revenue roller coaster, you name it. That's the proven leadership that we get from Redford.

What an odd reply. I was commenting on the Alberta Federation of Labour President blaming the shortfall on tax cuts that happened 12 years ago, instead of the terrible collective bargaining contracts given out much more recently to unions that he represents.

[darklord700]

Originally Posted by Rathji

As long as it doesn't increase taxes, right?

Damn right.

[Rathji]

Originally Posted by darklord700

Damn right.

Yet you are expecting a statement made in a province with a PST to be made in Alberta, where you would not support a PST.

It is hard to compare the income tax rates of the 2 provinces, but they seem about the same overall. Anyone know how you could compare them as far as funds they bring in? or is this info available somewhere that a quick Google isn't finding?

BC rates are:

5.06% on the first $37,568 of taxable income, +
7.7% on the next $37,570, +
10.5% on the next $11,130, +
12.29% on the next $18,486, +
14.7% on the amount over $104,754

I wouldn't mind that tax structure here. Would reduce my provincial tax burden by 3-4%

[Senator Clay Davis]

Originally Posted by darklord700

I listened to the BC budget speech yesterday. And their Finance Minister said that they will not spend more money than thier tax take in and they presented a balanced budget for 2013. I would like to see Horner say the same think, not spending more than you make for Alberta.

Beyond Rathji pointing out the whole BC already has a PST thing, Christy Clark is proposing raising raxes on business and the wealthy. I'm just guessing but that's a total no-no for the Wildrose Party (i.e. they would never do it). So again, pretty poor comparison.

[crazy_eoj]

Originally Posted by Senator Clay Davis

Beyond Rathji pointing out the whole BC already has a PST thing, Christy Clark is proposing raising raxes on business and the wealthy. I'm just guessing but that's a total no-no for the Wildrose Party (i.e. they would never do it). So again, pretty poor comparison.

BC also has much higher unemployment and much lower median after tax income than Alberta.

Coincidence?

[Mean Mr. Mustard]

Originally Posted by crazy_eoj

BC also has much higher unemployment and much lower median after tax income than Alberta.

Coincidence?

Did the oilsands immigrate to Alberta due to the lower tax rates?

[crazy_eoj]

Originally Posted by Mean Mr. Mustard

Did the oilsands immigrate to Alberta due to the lower tax rates?

I guess so. I mean the BC gas deposits finally immigrated because of lower royalty/tax rates, right? They couldn't possibly have been there all that time.....

[Senator Clay Davis]

Originally Posted by crazy_eoj

I guess so. I mean the BC gas deposits finally immigrated because of lower royalty/tax rates, right? They couldn't possibly have been there all that time.....

You aren't seriously comparing the value of the oilsands with natural gas deposits right? Especially since its a wash since we too have natural gas...And what does any of this have to do with the initial argument, that BC is proposing to balance their budget, which Wildrosers approve of, but are doing so by having things like higher taxes and a PST, which Wildrosers hate?

[bizaro86]

Originally Posted by Rathji

I wouldn't mind that tax structure here. Would reduce my provincial tax burden by 3-4%

The Alberta personal exemption is higher, so you wouldn't save as much as you think. A comparison of taxes paid by different wage groups can be found on the last page of this document.

http://www.abchamber.ca/wp-content/u...titiveness.pdf

The peak savings is about 1.7% of income for someone who makes ~70k.

[GP_Matt]

Originally Posted by bizaro86

The Alberta personal exemption is higher, so you wouldn't save as much as you think. A comparison of taxes paid by different wage groups can be found on the last page of this document.

http://www.abchamber.ca/wp-content/u...titiveness.pdf

The peak savings is about 1.7% of income for someone who makes ~70k.

I was surprised that there is so little difference between the three provinces.
I wonder if tax breaks are drastically different. ie Alberta has a pretty good charitable tax credit that I think is better than the other provinces.

The difference between Alberta and BC/Ontario probably becomes really apparent as your salary goes up.

[bizaro86]

Originally Posted by GP_Matt

I was surprised that there is so little difference between the three provinces.
I wonder if tax breaks are drastically different. ie Alberta has a pretty good charitable tax credit that I think is better than the other provinces.

The difference between Alberta and BC/Ontario probably becomes really apparent as your salary goes up.

The same document I linked above indicates AB isn't cheaper than BC until ~115k, which is higher than I would have expected. Of course, at that point it's quite a bit better since their highest marginal tax rate is 4.7% higher than ours, so the "Alberta Advantage" kicks in quick once you're past that point.

[opendoor]

Originally Posted by bizaro86

The Alberta personal exemption is higher, so you wouldn't save as much as you think. A comparison of taxes paid by different wage groups can be found on the last page of this document.

http://www.abchamber.ca/wp-content/u...titiveness.pdf

The peak savings is about 1.7% of income for someone who makes ~70k.

Are those Alberta numbers correct? They look a little low based on quick math (income minus $16775 X 10%) and a couple of online calculators. In the $60-80K range I think the difference between BC and Alberta is about 2% of income ($1200-1500 a year).

Though any straight across comparison is tough because of BC's sales tax and MSP premiums, as well as various deductions each province has.

[bizaro86]

Originally Posted by opendoor

Are those Alberta numbers correct? They look a little low based on quick math (income minus $16775 X 10%) and a couple of online calculators. In the $60-80K range I think the difference between BC and Alberta is about 2% of income ($1200-1500 a year).

Though any straight across comparison is tough because of BC's sales tax and MSP premiums, as well as various deductions each province has.

I'm not sure, that's just something I found on a quick google. I did a quick mental math check that it was close to reasonable but nothing more. It might be ~2% as opposed to the 1.7% I posted.

It was put up by the AB chamber of commerce as a campaign piece for lower AB tax rates, so they wouldn't have any incentive to understate Alberta taxes, but it could have an error in it.

[crazy_eoj]

Originally Posted by Senator Clay Davis

You aren't seriously comparing the value of the oilsands with natural gas deposits right? Especially since its a wash since we too have natural gas...And what does any of this have to do with the initial argument, that BC is proposing to balance their budget, which Wildrosers approve of, but are doing so by having things like higher taxes and a PST, which Wildrosers hate?

I never proposed any of the things you said so not sure why you are bringing it up.

And Wildrosers like high employement and high incomes. It's part of the reason why Alberta averages among the highest per capita tax revenues even with a flat tax.

Don't forget, BC also spends considerably less than Alberta. We would have to cut 4 billion from our budget to even begin the comparison.

[Jacks]

http://www.qr77.com/News/Local/Story.aspx?ID=1894789

Premier Alison Redford admits the Alberta government has a spending problem

Wow, that's quite the admission for her.

Wonder how she plans to fix that?

Premier Alison Redford admits the Alberta government has a spending problem, but she says it's up to Albertans to decide if we have a revenue problem. Redford was on the Rutherford show on QR77 Friday morning talking about Alberta's financial problems. She says next month's budget will contain well thought out cuts, while maintaining spending, "What you're going to see is an incredible commitment to maintaining spending which is really important in these times."
Redford says they've spent a lot of time looking at areas to cut, rather than instituting across the board cuts.

Wow, what courage.

[Dion]

If Redford had a conversation with Albertans we would have told her this along time ago.

Premier Alison Redford conceded Friday that Alberta has a spending problem, but she says she is working to curb it.

“Do we have a spending problem?” she asked herself in a Calgary radio interview. “I think we do have a spending problem and that’s one of the reasons we’ve undertaken the results-based budgeting process, which I think will actually have both short-term and long-term impacts.”

Redford also backed off the contention that Alberta has a revenue problem — one she starkly outlined on provincial television last month when she announced the province faced a $6 billion shortfall in resource revenue due to the discounted price of Alberta bitumen.

The premier again stressed she has no plans to introduce a provincial sales tax and added that she would not repeal or amend the Taxpayers Protection Act that makes it against the law to introduce a sales tax without holding a provincial referendum.
“We will not take away the right of Albertans to decide on that issue,” Redford said

http://www.calgaryherald.com/news/al...617/story.html

[darklord700]

Redford's admission of spending problem is a positive sign. But she doesn't seem to have a clear understanding of numbers. One day, it's bitumen bubbles and it's reliance on cyclical resource revenue. Her job is to manage it and not to frivolously spend taxpayer's money before thinking it through. I can count a few instances that she spent before she though.
Money to the hundreds of millions to the teachers union, firefighter union, $400 increase of AHIS and building of clinics.

Now she has finally realized that money doesn't grow on tree and taxpayer's wallet is not hers to fulfill her socialist dream.

Redford is forced to admit "HER" spending problem thanks to the press for calling her out.