'Corporate Tax Cuts To Create Jobs Is Pure Economic Voo Doo'
Canada's corporate sector is hoarding $483 Billion in retained earnings that are NOT being used to expand the economy and create jobs. Yet, Stephen Harper is committed to giving another $6 Billion in tax dollars to these same big corporations!
"But an analysis of Statistics Canada figures by The Globe and Mail reveals that the rate of investment in machinery and equipment has declined in lockstep with falling corporate tax rates over the past decade. At the same time, the analysis shows, businesses have added $83-billion to their cash reserves since the onset of the recession in 2008. [...]
Jim Flaherty, the Harper government’s Finance Minister, acknowledged in a telephone interview that corporate tax cuts are a tough sell when companies are still hoarding cash. But over the long term, he said, his “comfort zone” comes from the fact that business leaders and economists have widely endorsed tax cuts as a job creation tool.
“Most importantly,” he said, “it’s a confidence builder in Canada, and it’s a way of branding Canada.”
The Globe & Mail
HUH?! A way of branding Canada? You mean as a Right wing corporate Welfare State where the rich get richer on the tax dollars of average working people?