Let’s All Feel Sorry for the Tarsands Industry
On behalf of Westerners with an IQ above 85, let me just say that Tom Mulcair does not owe me an apology for stating the obvious truth that the currency adjustments caused by our massive oil exports have consequences for other sectors of the economy. And let me also say that this doesn’t help, either:
Travis Davies, a spokesman for the Canadian Association of Petroleum Producers, said the oil and gas industry is the single largest capital investor in the country. He said most of the industry’s $100 billion-plus in revenue goes back into royalties, operating costs and capital investment.
He said the industry as a whole pays $3 billion in corporate income taxes.
Oh, boo hoo. Stop lobbying for Chinese and American oil companies, start looking for a Canadian citizen who pays a 3% income tax rate on a 12-figure income, and I will feel sorry for your clients.
That sort of marginal rate, incidentally, must warm the heart of Minister of State for Small Business Maxime Bernier, who thinks that corporations should not be required to pay any taxes at all. None! Zip! Nada!
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sushi
With regard to the tar sands, the Alberta royalty on conventional production was 25%. The royalty on tar sands production is 1% and remains at that low level until such time as the producer completes full cost recovery of their tar sands investment.
What this implies is that the Alberta tar sands is heavily subsidized by the state. Alberta likes to talk of its red in tooth and claw freebooting capitalism but really it is welfare for the wealthy.
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With regards Bernier I agree with him. Rescind all taxes for corporations.
And then tariff them for using the public roadways, tariff them with the education costs of every person they hire, tariff them for the police protection of their plants and facilities, tariff them for the cost of maintaining a free market, tariff them for the provision of clean water and air, tariff them for the cost of the defense forces needed to defend the state.
Sixth Estate
I kind of doubt Bernier would interpret that in any way as “agreement” with him.
sushi
I like this quote from the Calgary Herald reference above:
“He should be ashamed of himself for attacking the West, dividing our country, and not even having visited the places he is attacking. It is unconscionable for someone who wants to be the prime minister of the country to be so utterly irresponsible,” Moore fumed.
Mulcair should ask Moore if Harper has ever visited Dildo, NFLD, a place about to come uinder attack by the mechanism of changes to UI.
Mulcair should then ask Moore not about someone “wanting to be PM” but about the utter irresponsibility of the person who IS the PM.