Kevin O'Leary nails it.

[robaur]

Corporate tax rate increased from 10% to 12%.

Let's play a little math game. A change of 2% incrementally is an increase of 20%.

Let's say the corporate tax was 1% and it was raised to 2%. It's a 100% growth!!! What are corporations going to do!!!???!!!

Point being....20% increase is misleading....its only a 2% incremental raise. Depends on how you look at it. It's not the end of the world.

Just depends on how you look at it and which media outlet is printing the headline.

[GirlySports]

Originally Posted by jammies

Do people actually expect the NDP to fix the economy? I certainly don't. I ust find it comical how many people expect them to do far worse than the PCs, who were vastly incompetent in every way except propaganda and populist twaddle.

They fix my economy. Free healthcare!

[MelBridgeman]

Originally Posted by robaur

Corporate tax rate increased from 10% to 12%.

Let's play a little math game. A change of 2% incrementally is an increase of 20%.

Let's say the corporate tax was 1% and it was raised to 2%. It's a 100% growth!!! What are corporations going to do!!!???!!!

Point being....20% increase is misleading....its only a 2% incremental raise. Depends on how you look at it. It's not the end of the world.

Just depends on how you look at it and which media outlet is printing the headline.

Think it's the 2 percent that is misleading.

If your taxable income is 100K your tax was 10K
With a 12 percent rate it is now 12K that's not 2 percent more that's 20 percent more

10K-12K=2K
2K of 10K is 20 percent.

You are paying 20 percent more taxes now.

[firebug]

Originally Posted by MelBridgeman

Think it's the 2 percent that is misleading.

If your taxable income is 100K your tax was 10K
With a 12 percent rate it is now 12K that's not 2 percent more that's 20 percent more

10K-12K=2K
2K of 10K is 20 percent.

You are paying 20 percent more taxes now.

But cash is king brotha

How much less cash do I have after your draconian 20% tax increase?

88k vs 90k or 2.2% less.

[White Out 403]

This whole 20% thing is very Fox news like. If this tax raise was done by their team, they'd call it for what it is.. 2%.

[MarchHare]

Originally Posted by Resurrection

This whole 20% thing is very Fox news like. If this tax raise was done by their team, they'd call it for what it is.. 2%.

The tax rate went up by 2%. Corporations now have to pay 20% more provincial tax than they had to before. Both sides can legitimately claim they are right depending on what point they're trying to make.

Think of it this way: CO2 is only 0.04% of the atmosphere. If human activity caused that number to increase to 0.08%, the climate change deniers would say, "Atmospheric CO2 composition only increased by 0.04%. That's such a minuscule amount. What's the big deal?" whereas climate scientists would say, "Atmospheric CO2 composition increased by 100%! This is huge!"

[pylon]

Regardless of what a d-bag Leary is, one thing is true.

Putting the NDP in charge of this province is the equivalent of putting Greenpeace in charge of Chevy's truck division. It's just a bad a fit.

[Makarov]

Originally Posted by pylon

Regardless of what a d-bag Leary is, one thing is true.

Putting the NDP in charge of this province is the equivalent of putting Greenpeace in charge of Chevy's truck division. It's just a bad a fit.

Hyperbole notwithstanding, who says it's a bad fit? Perhaps we end up with the most fuel efficient, non-polluting line of trucks in the marketplace? Seems to me that might be successful.

[Tinordi]

So I guess this thread concludes that Kevin O'Leary actually did not nail it.

[Jacks]

No, he may be a pompous ass but he nailed it.

[chemgear]

Originally Posted by firebug

But cash is king brotha

How much less cash do I have after your draconian 20% tax increase?

88k vs 90k or 2.2% less.

Originally Posted by MarchHare

The tax rate went up by 2%. Corporations now have to pay 20% more provincial tax than they had to before. Both sides can legitimately claim they are right depending on what point they're trying to make.

Think of it this way: CO2 is only 0.04% of the atmosphere. If human activity caused that number to increase to 0.08%, the climate change deniers would say, "Atmospheric CO2 composition only increased by 0.04%. That's such a minuscule amount. What's the big deal?" whereas climate scientists would say, "Atmospheric CO2 composition increased by 100%! This is huge!"

LOL, this is so wacky I'm not sure whether to laugh or cry.

I look forward to tomorrow when all the gas stations in town jack up gasoline prices to $2.00/L. "Gas prices haven't doubled, they haven't gone up 100%, and it's not draconian, you merely have 2% less cash every year. It's nothing, what's the big deal?"



Don't give the NDP any ideas with this btw.

[White Out 403]

At work I can pre buy stock options ... up to a maximum of 15% of my pay cheque.

2 weeks ago, I legitimately changed my deduction. I went from 4% to 8%. (for ease of numbers.. I did something different but whatever)

If you listen to team Conservative cheering on here... they would suggest that I should explain to my wife that my stock deductions are now 100% higher than before. That's how stupid this conversation is.

Let's compare these two explanations.

1) "Hey Wife, my stock option is 8% now, not 4%. I've increased it by 4%"

2) "Hey Wife, my stock option is 8% up from 4%.... I've increased my stock option by 100%"

Which one of these sounds stupid, convoluted, and unnecessarily complicated and will likely result in a follow up question?

We're already measuring this number as a % of something. To measure the increase as a % of that % is stupid and unnecessary. If this was just rent for instance, and we were dealing with Dollars... ya, % matters and provides context. My 1000$ a month rent is now 1500? Thats a huge increase.. and math can tell us how much a % of an increase it is. If my monthly rent is instead 20% of my monthly earnings some how ... and it went up to 25%.... why the #### would you want to make things so complicated and calculate the % increase on a % already?? No one does their budgets this way do they? Really??

Literally no one at my work place explains it with option #2. People on team conservative are doing it because it sounds scary and we all know how the right wingers love to get peoples dander up and pedal fear. It's actually really pathetic that were still even debating it. If team Blue was still in charge they'd be saying it the other way, but, you can't sell fear with such a small number like a 2% increase. Politics has become such a game and a sporting like event that people are acting in such outrageous and nonsensical ways I honestly can't bring myself to try and enter that mindset. It's like Bill Clinton trying to change the meaning of "is".

[Jacks]

Originally Posted by Resurrection

Which one of these sounds stupid, convoluted, and unnecessarily complicated and will likely result in a follow up question?.

Haha, wow. I vote for that whole rant.

[Street Pharmacist]

12% is an absolutely normal tax rate.

Almost no business is changing plans based on that. When your profits are super volatile and your in a volatile market, a 2% difference on your operating income factors not at all in your long term or short term decision making.

If your operating income is $100M one year, $20M the next, $120M the year after, then a loss of $20M, how much do you care about that 2%? Sure you don't like it, but your not changing any plans based on it

[White Out 403]

Originally Posted by Jacks

Haha, wow. I vote for that whole rant.

My respect for you after that clever jab has gone up. I did respect you before by 20%. That zinger raised it by 50%.

Who knows how much I actually respect you, really.

[FireGilbert]

This thread is funny. So Albertans finally get their collective heads out of the sand and kick out a corrupt, entitled government that wasted the provincial wealth and failed to diversify the economy, yet the economic woes are being blamed on the new 5 month old government.

Also, if you don't like the NDP you are free to vote them out in 4 years time. You don't actually have to leave them in government for 40+ years.

[Slava]

Originally Posted by Resurrection

At work I can pre buy stock options ... up to a maximum of 15% of my pay cheque.

2 weeks ago, I legitimately changed my deduction. I went from 4% to 8%. (for ease of numbers.. I did something different but whatever)

If you listen to team Conservative cheering on here... they would suggest that I should explain to my wife that my stock deductions are now 100% higher than before. That's how stupid this conversation is.

Let's compare these two explanations.

1) "Hey Wife, my stock option is 8% now, not 4%. I've increased it by 4%"

2) "Hey Wife, my stock option is 8% up from 4%.... I've increased my stock option by 100%"

Which one of these sounds stupid, convoluted, and unnecessarily complicated and will likely result in a follow up question?

We're already measuring this number as a % of something. To measure the increase as a % of that % is stupid and unnecessary. If this was just rent for instance, and we were dealing with Dollars... ya, % matters and provides context. My 1000$ a month rent is now 1500? Thats a huge increase.. and math can tell us how much a % of an increase it is. If my monthly rent is instead 20% of my monthly earnings some how ... and it went up to 25%.... why the #### would you want to make things so complicated and calculate the % increase on a % already?? No one does their budgets this way do they? Really??

Literally no one at my work place explains it with option #2. People on team conservative are doing it because it sounds scary and we all know how the right wingers love to get peoples dander up and pedal fear. It's actually really pathetic that were still even debating it. If team Blue was still in charge they'd be saying it the other way, but, you can't sell fear with such a small number like a 2% increase. Politics has become such a game and a sporting like event that people are acting in such outrageous and nonsensical ways I honestly can't bring myself to try and enter that mindset. It's like Bill Clinton trying to change the meaning of "is".

Maybe no one says they've increased their contribution by 100%, but I bet a lot of people would say they've doubled their contribution.

[EldrickOnIce]

Originally Posted by Slava

Maybe no one says they've increased their contribution by 100%, but I bet a lot of people would say they've doubled their contribution.

That's exactly what almost everyone would say. Doubled their contribution, are now buying twice as much, etc.
Only in some circumstances would they say they they increased their contributions by 4 % points.

[GGG]

For those who are upset about the increase should the corporate tax have been lowered and should it have been lowered? Or is 10% the goldilocks tax rate

[EldrickOnIce]

Imo, it more the optics of everything combined. The economy reeling, bottom falling out of oil prices, tax hikes, royalty review, etc.
12‰ by itself isn't killing anyone or anything.