Corporate profits continue to rise as corporate taxes fall
Few single figures capture the power of corporations as well as the corporate profit rate.1
Few single figures capture the power of corporations as well as the corporate profit rate.1
For immediate release: September 23, 2024
18 September 2024
Canadians are suffering from an ongoing housing crisis. While home ownership is increasingly out of reach for multiple generations, average rent prices are outpacing the cost of living, which is contributing to poverty, intimate partner violence, unsafe living conditions, and increased houselessness.
We are saddened to learn of the passing of the founder of Canadians for Tax Fairness, Larry Gordon.
2021 should have marked a turning point for progressive taxation in Canada. The COVID-19 pandemic laid bare the deep inequities within our economy.
Recommendations:
1. Implement a permanent excess profits tax to raise revenue from corporations who profited off the pandemic and discourage future crisis profiteering
2. Implement a minimum tax on corporate book profits
Post-pandemic inflation and a worsening affordability crisis have left many Canadians struggling to make ends meet.
There’s a lot of fear-mongering about who’s going to be impacted by the changes to capital gains taxation.