Finance Minister Jim Flaherty BEGS Corporate Sector To Create Some Jobs With The BILLIONS In Tax Cuts They Have Received
Is Finance Minister Jim Flaherty about to discover one of the most fatal flaws in Conservative Party ideology?
Those not afflicted with rabid conservatism know that the flaw is giving billions in no strings attached corporate tax cuts AND ASSUMING that these will equate into the creation of new jobs for Canada's economy.
Finance Minister Jim Flaherty sounds like he is flogging a dead horse and is leaving job creation up to his corporate brethren:
“Our country’s long-term prosperity is linked to reaching beyond our borders for economic opportunities that serve to grow Canada’s trade and investment.[...] Our government cannot do this alone. Private-sector business investment must also help lay the foundation for a sustained, long-run expansion of Canada’s economy and job growth.
The government has lowered corporate and personal income taxes, encouraged purchases of new technologies and equipment with capital cost write-offs and sliced bureaucratic red tape for businesses. But ultimately, it is up to you in the private sector to take advantage of all of these strengths and to invest, to create jobs and to grow our economy,”
Hon. Jim Flaherty
Minister of Finance
One year ago economist Erin Weir cautioned Mr. Flaherty on the flaws in this approach ... but did Mr. Flaherty listen??
-Erin Weir: Rationalizing Corporate Canada’s Cash Stash