Report: Careless Profits
Summary
Report
Table of contents
- Introduction
- Table: Deaths from covid-19 by ownership type, 2020
Polluters, Pay!
About this campaign
Canadian governments give away billions of taxpayer dollars every year in subsidies and special tax treatment to the fossil fuel industry, while it makes record profits and worsens the enormous long-term costs of the climate crisis.
Tax the Rich
About this campaign
Currently, the super-rich pay a smaller proportion of their income and wealth in taxes than the rest of us, while the richest 1% of the population controls 25% of Canada's wealth.
Nine out of ten Canadians, across Party lines, support our calls for a wealth tax on the richest Canadians, and increasing the tax rate on the highest incomes.
How corporate profiteering led to rising inflation
An interview with C4TF economist DT Cochrane about how corporate profiteering is fuelling inflation and driving up the cost of living. The Breach, 2 May 2022.
The Fair Tax News, 30 April 2022
30 April 2022
As most of us were filing our own taxes, and the links between record-breaking corporate profits and inflation, inequality and the housing crisis were under scrutiny, the federal budget fell short on ensuring corporations pay their fair share. ...
Report: Analysis of the 2022 Federal Budget
Summary
Report
Budget 2022 took some steps in the right direction for tax fairness, especially for corporate transparency. However, it will raise only a fraction of potential revenue from the most profitable corporations, richest individuals and biggest polluters, while leaving major tax loopholes wide open.
Rather than fulfilling numerous Liberals promises on fair taxation made since 2015, Budget 2022 makes more promises to “review” and “study” ways to solve problems for which there are obvious and effective solutions that could be implemented immediately.
Budget 2022 strikes critical blow against corruption with commitment for a publicly accessible beneficial ownership registry
Canada confirms an accelerated timeline for registry implementation by 2023.
Report: The Rise of Corporate Profits in the Time of Covid
Summary
Report
HIGHLIGHTS
1. Canadian corporate profit margins skyrocketed in 2021.
- From 2002 to 2019, corporate profit margins averaged 9%. In 2021, they were 16%.
- Extreme profit margins drove profits per firm up by 68% over 2019.
- More than 90% of the increase in sales revenue per firm was profit.
2. Profit margins have soared for both commodity and non-commodity companies.
Budget 2022 should tax record-breaking corporate profits linked to inflation and inequality: new report
Canadian corporations made record profit margins in 2021, which are contributing to inflation and will worsen inequality, according to a new report by Canadians for Tax Fairness: